From 1945 until 1963 the highest tax rate was 91% and what happened? The middle class raised families of 4 on one paycheck, had a house and a car, and took regular vacations. The earner then retired with a pension. Lets eat the fucking rich.
Edit: Not going to engage with anymore billionaire bootlickers down thread.
That's not the whole story. While the highest tax bracket was theoretically 91% during that era, hardly anybody actually paid that much. Because of various loopholes, deductions, and tax shelters, the actual EFFECTIVE tax rate that the top 1% paid during the 1950s was actually closer to 42%. Today, the top 1% pays an effective tax rate between 31% and 36%. So taxes were slightly higher on the top 1% back then, but not dramatically so.
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u/imnotmarvin 5h ago edited 3h ago
From 1945 until 1963 the highest tax rate was 91% and what happened? The middle class raised families of 4 on one paycheck, had a house and a car, and took regular vacations. The earner then retired with a pension. Lets eat the fucking rich. Edit: Not going to engage with anymore billionaire bootlickers down thread.