Wars are expensive as well. If there's any large scale conflict, expect tax rates to jump through the roof. WW1 and WW2 saw rates go to 94% in the worst (arguab

Wars are expensive as well. If there's any large scale conflict, expect tax rates to jump through the roof. WW1 and WW2 saw rates go to 94% in the worst (arguably incredibly wealthy) case. > World War I In order to finance U.S. participation in World War One, Congress passed the 1916 Revenue Act, and then the War Revenue Act of 1917. The highest income tax rate jumped from 15 percent in 1916 to 67 percent in 1917 to 77 percent in 1918. War is expensive. After the war, federal income tax rates took on the steam of the roaring 1920s, dropping to 25 percent from 1925 through 1931. > The Depression Congress raised taxes again in 1932 during the Great Depression from 25 percent to 63 percent on the top earners. > World War II As we mentioned earlier, war is expensive. In 1944, the top rate peaked at 94 percent on taxable income over $200,000 ($2.5 million in today’s dollars3). That’s a high tax rate. -> https://bradfordtaxinstitute.com/free_resources/federal-income-tax-rates.aspx https://bradfordtaxinstitute.com/free_resources/federal-inco... See the historical rates: https://taxfoundation.org/historical-income-tax-rates-brackets/ https://taxfoundation.org/historical-income-tax-rates-bracke... In my opinion, people aren't ready for a world in which taxes are higher than what they're used to. But peace, and low taxes, are not likely to prevail in a disconnecting, increasingly partisan and hostile world, where most countries are tightening their belts, people are getting poorer and angrier, and tension and hunger for conflict is growing.