You were confusing the top income tax rate with the effective tax rate. When the top income tax was 91% (from 1951-1964), the capital gain tax was 25%. So the e

You were confusing the top income tax rate with the effective tax rate. When the top income tax was 91% (from 1951-1964), the capital gain tax was 25%. So the effective tax rate paid by the rich was always the same, infact the rich pay more in tax today at the current top 35% rate than when it was 91%!