4 ms·

I didn't realize that such causes like 90+% income taxes, lower income inequality, single earner households, and high unionization rates are "conservative" too.

• CamperBob2 7mo ago
  No one actually paid 90% income taxes. I wish that myth would go away.
  • conception 7mo ago
    Of course because that’s how marginal tax rates work. As to how much actual money was taxed at 91%, we don’t really have records for that but certainly the top 0.01% paid significantly more in taxes as a rate than they do today.
    • SoftTalker 7mo ago
      There were a lot more tax shelters at that time. You only paid those top rates if you had poor or no financial advice.
  • mrguyorama 7mo ago
    So nobody would mind going back to that reality right? Companies would totally pay less in taxes than they do now, right? Oh, they fight that actually.
    • CamperBob2 7mo ago
      "That reality" was one in which the wealthy had countless deductions, loopholes, and shelters that were unavailable or inapplicable to everyone else, which (almost) everybody agreed was an undesirable state of affairs.