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While it’s true that the maximum tax rates in Eisenhower’s time were much higher compared with our own, they also only phased in at almost 10X more income - to
by alasdair_ 6y ago
While it’s true that the maximum tax rates in Eisenhower’s time were much higher compared with our own, they also only phased in at almost 10X more income - to hit the max tax bracket back then you needed to have an inflation adjusted income of over four million a year versus the $518,401 for today.
Moreover, such taxes seem terribly unfair for a person who works hard to get a single payout one time, versus a steady high income for many years - someone who makes ten million one time and then nothing else for nine years gets FAR more taken from them that a person who earns a million a year for ten years, despite the same total earnings.
Why should the first person have to pay so much more than the second?