I don't see how you can reconcile "always" with the fact that the US had a top marginal tax rate of 92% in 1952. https://en.wikipedia.org/wiki/Income_tax_in_th

I don't see how you can reconcile "always" with the fact that the US had a top marginal tax rate of 92% in 1952. https://en.wikipedia.org/wiki/Income_tax_in_the_United_States#History_of_top_rates https://en.wikipedia.org/wiki/Income_tax_in_the_United_State... You're leaving out the role of social upheaval.