• TranscendentalEmpire@lemmy.today
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    1 day ago

    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.