This number is ignoring that the tax structure of the time was quite a bit different than today. It's more enlightening to look at effective tax rates, which de

This number is ignoring that the tax structure of the time was quite a bit different than today. It's more enlightening to look at effective tax rates, which depending on the year were around 20-40%. (Edit: Actually very rarely far from 20%. http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?DocID=456&Topic2id=20&Topic3id=22 http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Doc... shows effective personal tax rates on the 1% from 1979, and this http://www.freeby50.com/2010/08/effective-tax-rates-1934-to-2009.html http://www.freeby50.com/2010/08/effective-tax-rates-1934-to-... shows average effective taxes from before then (and after match the first link fairly closely).)