Did you know that once upon a time, the high bracket marginal federal income tax rate was a whooping 90%.
Add in some state & local taxes, and uber-earners were shelling every piece of marginal income to the government.
My surprises:
(1) the 90% rates hung in for almost 30 years.
(2) it was JFK, not Reagan that made the first cuts
Chart extracted from an IBD editorial:
http://www.ibdeditorials.com/IBDArticles.aspx?id=303088374745338
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