Re:Living on a Reduced Income in 1868
by gruez on Wednesday August 17, 2022 @08:47AM
(#32495562)
>91% top marginal tax rate of the day
it's worth noting that even though the top marginal rate today is only 37%, tax as % of GDP stayed mostly the same since the 1960s. The difference can be explained by the fact that the 91% tax rate was accompanied by a plethora of deductions, which reduced the effective tax rate.
it's worth noting that even though the top marginal rate today is only 37%, tax as % of GDP stayed mostly the same since the 1960s. The difference can be explained by the fact that the 91% tax rate was accompanied by a plethora of deductions, which reduced the effective tax rate.
https://fred.stlouisfed.org/series/FYFRGDA188S