Generally when talking about tax rates in this context it's about the income tax. There is no wealth tax in the U.S. I don't think there ever has been one eit

Generally when talking about tax rates in this context it's about the income tax. There is no wealth tax in the U.S. I don't think there ever has been one either. Reagan believed the tax on labor should be less than the tax on capital. I agree with him on this but the current Republican party has deviated quite far from where even Reagan stood.