During the post-war boom in the 1950s and 1960s the highest taxable bracket was in the 90% range.
Yeah, but no one actually paid that. There were so many carve outs and loop holes back in the day that the average wealthy person paid just a little more than they are supposed to now around 40%
The big difference now is the availability of tax free loans based on stock equity.
Yeah, but no one actually paid that. There were so many carve outs and loop holes back in the day that the average wealthy person paid just a little more than they are supposed to now around 40%
The big difference now is the availability of tax free loans based on stock equity.