One aspect of what can be found in the NYT article is a graph that shows the people at the very top of the income pyramid paying a 70% tax rate in 1950. However

One aspect of what can be found in the NYT article is a graph that shows the people at the very top of the income pyramid paying a 70% tax rate in 1950. However, there's a nominal tax rate versus what someone actually winds up paying after various deductions an loopholes. An earlier study by the same authors of this latest publication that the NYT is citing indicates that those in the top 1% were paying around 40% in 1950. Based on that, I find the claim that those at the very top paid 70% in 1950 to be highly doubtful. Am I right about this? Well, I guess I'll have to wait a week for this latest book to be published, or until the NYT issues a correction. The earlier study from these same authors, which was cited in the link I posted above, can be found at: https://academic.oup.com/qje/article/133/2/553/4430651/ https://academic.oup.com/qje/article/133/2/553/4430651/