I seem to remember 90% was, after all, the ore-Reagan tax rate for the ultra wealthy, during the post WW2 period that “conservatives” love. Haven’t fact checked that, just my memory talking.
I seem to remember 90% was, after all, the ore-Reagan tax rate for the ultra wealthy, during the post WW2 period that “conservatives” love. Haven’t fact checked that, just my memory talking.
The top tax rate was during the Eisenhower administration at 90%. What Reagan did was lower it from 79% to 37% I believe. I could be wrong — going for memory.
The top marginal rate in 1944 was 94%. It stayed at around 90% during nearly all of the 50's, 'cause that's the price America needed to pay the American people from whom the government borrowed over $10 trillion to make sure the national language wasn't German or Japanese after WWII. We paid back $9 trillion until Reagan blew a whole in the budget with his "trickle on" economics.
I seem to remember 90% was, after all, the ore-Reagan tax rate for the ultra wealthy, during the post WW2 period that “conservatives” love. Haven’t fact checked that, just my memory talking.
The top tax rate was during the Eisenhower administration at 90%. What Reagan did was lower it from 79% to 37% I believe. I could be wrong — going for memory.
The top marginal rate went from 73% to 28% during Regan's tenure.
Not so coincidentally, the budget deficit grew from about $74B to over $220B from 1980 to 1990.
The top marginal rate in 1944 was 94%. It stayed at around 90% during nearly all of the 50's, 'cause that's the price America needed to pay the American people from whom the government borrowed over $10 trillion to make sure the national language wasn't German or Japanese after WWII. We paid back $9 trillion until Reagan blew a whole in the budget with his "trickle on" economics.