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Not that long ago we had 90% tax rate (70% effective) in USA. It's been plummeting since WWII https://en.wikipedia.org/wiki/Taxation_history_of_the_United_Sta
by njharman 10y ago
Not that long ago we had 90% tax rate (70% effective) in USA. It's been plummeting since WWII https://en.wikipedia.org/wiki/Taxation_history_of_the_United_States#Tax_rate_reductions https://en.wikipedia.org/wiki/Taxation_history_of_the_United...
- loeg 10y agoThat was a nominal but not realistic rate for the very wealthy / high income. IIRC, dividends were not taxed at that rate. More info from this commentor: https://news.ycombinator.com/item?id=14168781 https://news.ycombinator.com/item?id=14168781
- njharman 10y ago70% effective as I wrote. Today's top rates are no different, in that people including corporate artifcial ones don't pay it.