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A comment on A majority of Americans support raising the top tax rate to 70 percent. Parent comment

Re:A majority of Americans support raising the top tax rate ... by danans on Wednesday January 16, 2019 @03:50PM (#18925015)
> because there were so many exemptions.

The effective tax rate was lower primarily because 91% was the top marginal tax rate. Even those who paid the top marginal rate still had most of their income taxed at lower marginal tax rates, just as it is today.

Also, a large number of exemptions still exist today.

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Re:A majority of Americans support raising the top tax rate ... by hackeraccount on Wednesday January 16, 2019 @04:06PM (#18925248)
It used to be that all interest was deductible.
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Re:A majority of Americans support raising the top tax rate ... by danans on Wednesday January 16, 2019 @07:31PM (#18927198)
This seems ripe for tax evasion. Two parties could loan each other the same amount, through different shell entities, and both could deduct the interest on the payments to the other.
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