Did you know?

During the 1950s and early 60s, the highest tax bracket was over 90%.  Granted, this was a marginal rate, meaning that not all of someone’s income was taxed at this rate.

This was an effort to discourage mindless greed, and it was thought that this would ultimately benefit the economy.  The theory was that it was better for 20 people to buy a Ford, Plymouth, or Chevrolet as opposed to one ultra wealthy person buying a Rolls Royce.

Of course, very few people actually paid this tax rate.  The effective tax rate, which is an average of what all taxpayers end up owing, was about 23.5%.

THE MORE YOU KNOOOOOOOOOOOOOOOWWWWWWWW…

53 Notes/ Hide

  1. jsh reblogged this from moneyisnotimportant
  2. somethingstephanie reblogged this from moneyisnotimportant
  3. progressivehumanity reblogged this from moneyisnotimportant
  4. jayveeyoursforever answered: no i don’t have any idea about that coz i’m not a kind of a person who is always wanting to know about something..
  5. minigigi reblogged this from quotingthecrisis
  6. uscopyrightcenter answered: but needed for most the things to reach a state where we can say Money Is Not Important
  7. quotingthecrisis reblogged this from moneyisnotimportant
  8. okdemocrats reblogged this from moneyisnotimportant
  9. adversiting answered: E o que fazer com essa saudade que me está me matando aos poucos?
  10. milenasantanas2 answered: :) k
  11. shitgotswag reblogged this from moneyisnotimportant
  12. acrypto answered: Basically that’s a salary cap.
  13. hiid answered: A year ago it was the tea party, this year the occupy movement and next year will be another ? Are there any difference compared to Bush era?
  14. bleghkero reblogged this from moneyisnotimportant
  15. randofernando reblogged this from moneyisnotimportant
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  18. brownchina reblogged this from moneyisnotimportant
  19. lowbornd reblogged this from moneyisnotimportant
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  21. iameverythingudreamof answered: how did that 23.5% tax rate work?
  22. amyisnotgothic answered: did not know, but I know now … thank you
  23. peterspidermanparker reblogged this from moneyisnotimportant
  24. moneyisnotimportant posted this