Top income tax rates: 94% then, 37% now

SummersTimes: Public Policy Analysis from Scott Summers

During 1944 and 1945 – World War II years – the highest federal income tax rate was 94% on amounts over $200,000.

Between the years 1951 – 1963, the maximum hovered between 91% to 92% on incomes greater than $400,000.

The top tax bracket has, for the most part, edged down ever since. For 2021, it will be 37% on $523,601 or more.

Source:

https://www.irs.gov/statistics/soi-tax-stats-historical-table-23

If you don't want these updates anymore, please unsubscribe here.

If you were forwarded this newsletter and you like it, you can subscribe here.

Created with Revue by Twitter.