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Mon Jun 6, 2022, 02:33 PM

Historical U.S. Federal Individual Income Tax Rates & Brackets, 1862-2021


Okay, it's difficult to be exact in subject of economy but there are definite trends and results that can be traced.

In the early 1960's when America Was Great ( minus the equal rights issues.. ahem) the top tax bracket was 90% !!

In the 70's the top tax was still 70%.

These high taxes and the allowable write offs encouraged the high earners to INVEST their money into buildings, products, developments and other businesses that created all kinds of jobs and the system functioned well make the U.S. the best economy in the world.

Now, at a paltry 35% on the top earners, the wealthiest now stash their cash away in banks or foreign countries or stock buy backs.
Our current tax rate is closer to where it was in the 1920's ( 25% top) just before the Great Depression hit than to the 70% top tax when the U.S. was doing well.

Today's big money is now out of circulation among wage earners.

The U.S. was in debt at approx 120% of GDP after WWII, the high taxes and reinvestment into our own economy brought us out of that huge debt.

We used to be more of a socialist country.

We could use some more of that now.

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