lionkoy5555@lemmy.world to

No Stupid Questions@lemmy.world · 9 hours ago

Is it really possible to tax the rich?

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Is it really possible to tax the rich?

lionkoy5555@lemmy.world to

No Stupid Questions@lemmy.world · 9 hours ago

And what would happen if we did?

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disguy_ovahea@lemmy.world
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8 hours ago
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/
- adarza@lemmy.ca
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  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.

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