07-25-2018, 04:30 PM
(07-25-2018, 03:45 PM)michaelsean Wrote: Well let me ask this because I don't know how to look it up. What percentage of income tax did the wealthy pay in 1960 compared to today. That's an easier way for me to think about it.
I started doing my whole lengthy post thing, then scrapped it. I'm not sure of the figures, but it would've definitely been a higher percentage given the top tax rate at 91%, though you'd have to make around $3,148,000 in 2013 dollars to reach that mark. Also, at the time capital gains were taxed at a higher rate than they are, today.
"A great democracy has got to be progressive, or it will soon cease to be either great or a democracy..." - TR
"The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little." - FDR
"The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little." - FDR
