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A reminder that comparing old tax rates with modern ones is very hard, since there was a huge amount of deductions available for the high income earners, and ha
by BurningFrog 5y ago
A reminder that comparing old tax rates with modern ones is very hard, since there was a huge amount of deductions available for the high income earners, and hardly anyone actually paid anywhere near the nominal 91%.
- qeternity 5y agoIt's also arithmetically impossible to pay the highest bracket given that it's a marginal tax rate.
- chrismcb 5y agoHuh? This makes no sense. If you made over 400k you were in the guest tax bracket Yes, b you wouldn't pay 91% of your income but you would pay 91% of everything over 400k.
- throwaway0a5e 5y agoAnd there were fewer taxes and government income streams so single big taxes (like income tax) represented a larger share of an individual's overall tax burden.