lionkoy5555@lemmy.world to No Stupid Questions@lemmy.world · 20 hours agoIs it really possible to tax the rich?message-squaremessage-square53fedilinkarrow-up1111arrow-down16file-text
arrow-up1105arrow-down1message-squareIs it really possible to tax the rich?lionkoy5555@lemmy.world to No Stupid Questions@lemmy.world · 20 hours agomessage-square53fedilinkfile-text
minus-squaredisguy_ovahea@lemmy.worldlinkfedilinkarrow-up48·19 hours agoThe highest bracket was taxed at 70% until Reagan’s first plan in 1981 lowered it to 50%. It’s currently at 37% under Trump’s 2018 tax plan. https://taxfoundation.org/data/all/federal/historical-income-tax-rates-brackets/
minus-squarejballs@sh.itjust.workslinkfedilinkEnglisharrow-up9·8 hours agoKeep in mind that’s Income Tax. Most rich people don’t actually have income, they have capital gains.
minus-squareadarza@lemmy.calinkfedilinkEnglisharrow-up30·18 hours agopeaked during ww2 at 94% on high incomes (over what would be about 2.5m today). stayed at 70% or above until reagan… the entire 50s, 60s, and 70s.
The highest bracket was taxed at 70% until Reagan’s first plan in 1981 lowered it to 50%.
It’s currently at 37% under Trump’s 2018 tax plan.
https://taxfoundation.org/data/all/federal/historical-income-tax-rates-brackets/
Keep in mind that’s Income Tax. Most rich people don’t actually have income, they have capital gains.
peaked during ww2 at 94% on high incomes (over what would be about 2.5m today). stayed at 70% or above until reagan… the entire 50s, 60s, and 70s.