4 ms·
From the 1950s, when the marginal rate was >90%: https://taxfoundation.org/taxes-rich-1950-not-high/ https://taxfoundation.org/taxes-rich-1950-not-high/ > per
by pofilat 8y ago
From the 1950s, when the marginal rate was >90%:
https://taxfoundation.org/taxes-rich-1950-not-high/ https://taxfoundation.org/taxes-rich-1950-not-high/
> per the Piketty, Saez, and Zucman data ... The average tax rate on the 0.1 percent highest-income Americans was 50.6 percent in the 1950s, compared to 39.8 percent today.
From 1979 onward:
http://www.cbo.gov/sites/default/files/cbofiles/attachments/effective_tax_rates2004.pdf http://www.cbo.gov/sites/default/files/cbofiles/attachments/...
Highest effective tax rate, before Reagan's reforms, was 37% of the income of the top 1%
- monocasa 8y agoI asked about the deductions, not just the marginal rate. My understanding is it matched what's more typical in Japanese C-levels these days. You don't have a crazy salary, but your car is a company car, the company has a deal with the good schools to cover tuition for your kids, you don't pay for breakfast, or lunch ever because you'd be at the office so the company handles it, etc. Edit: Guys, there's several ways to being down the marginal rate, deductions are only one of them.