What the wealthiest in America paid in taxes:
The top marginal tax rate in 1980 was (approximately) seventy percent and in 2013 was (approximately) forty percent.
In 1955, a ninety-one percent tax rate was charged on income "over $3,425,766 when adjusted for inflation." - Tax Foundation, Tax Policy Center, Alan Reynolds, from an article (11/24/15) by Andrew Syrios in Mises Daily Articles/ Mises Institute,
Please see the Carbuncle Moon post of 11/29/17.
The current Republican Tax Plan in Congress:
Sets "a top individual income tax rate of 37 percent, below 38.5 percent in the Senate bill and 39.6 percent in the House bill (which is also the rate under current law)." - Vox/ Dylan Matthews/ 12-18-17
As America's wealth is situated in the hands of fewer and fewer banks, corporations, and people, 50 % would be fair for the top marginal tax rate...
Please see Carbuncle Moon posts of: 12/2 and 12/1/17.
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Kevin O'Kendley is the owner of Carbuncle Moon, and the author of all original material on the website (there has been a very limited editorial input in some of my work). Quoted sources are noted. I am responsible for all posts. Kevin O'Kendley: P.O. Box 172, Winterport, Maine, 04496/ and then my next address... email@example.com.
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