5 ms·

> income tax that caps out at 90% Kind of like it was in the 50s back when America was "great again"?

• rsync 9y ago
  I am obligated, any time these very high historical tax rates are mentioned, to point out that these were very special, very specific actions taken to discourage war profiteering during world war two. The extremely high marginal rates that did indeed exist were not implemented as part of a tax regime nor were they enacted to redistribute wealth - they were a patriotic wartime measure enacted to ensure nobody got rich on war contracts. They have almost no relation to our current discussion of tax rates and taxation.
  • tossaway1 9y ago
    Maybe so, I'm not an expert on such matters, but the highest tax rate was 50% or higher from 1932-1986. I would say that is relevant to our current discussion.
• valuearb 9y ago
  You realize that almost no one ever paid 90% or anything close to that, don't you? The tax code that had a 90% rate also had massive deductions.