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49 sats \ 16 replies \ @freetx 1 Feb \ on: Replace The Income Tax With Tariffs? Politics_And_Law
The real horror of the income tax, can be explained by simply listing the original brackets (note: all values are in 1913 dollars)
1% on income above $4000
2% on income between $20,000 and $50,000
3% on income between $50,000 and $75,000
4% on income between $75,000 and $100,000
5% on income between $100,000 and $250,000
6% on income between $250,000 and $500,000
7% on income above $500,000
($4000 in 1913 was about $125,000 in todays money)
($20,000 was about $650,000 in todays money)
Only 3% of population was subject to the tax, and those that were 98% paid about 3% of their income. The highest possible tax rate was 7%
Look how quickly it jumped to 67 in 1917
from Brave ai...
Income Tax Rate History
The history of income tax rates in the United States has seen significant fluctuations over the years, influenced by various economic and political factors. Here is a summary of the changes in the top marginal income tax rates:
- 1913-1915: The top rate was 7%, with a regular rate of 1% and a surtax of 6%.
- 1916: The top rate increased to 15%, with a regular rate of 2% and a surtax of 13%.
- 1917: The top rate jumped to 67%, with a regular rate of 4% and a surtax of 63%.
- 1918-1921: The top rate was 73%, with a regular rate of 8% and a surtax of 65%.
- 1922-1923: The top rate was adjusted to 58%, with a regular rate of 8% and a surtax of 50%.
- 1924: The top rate was 46%, with a regular rate of 6% and a surtax of 40%.
- 1925-1931: The top rate was 25%, with a regular rate of 5% and a surtax of 20%.
- 1932-1933: The top rate increased to 63%, with a regular rate of 8% and a surtax of 55%.
- 1934-1935: The top rate was 63%, with a regular rate of 4% and a surtax of 59%.
- 1936-1940: The top rate was 79%, with a regular rate of 4% and a surtax of 75%.
- 1941: The top rate was 81%, with a regular rate of 4% and a surtax of 77%.
- 1942-1943: The top rate was 88%, with a regular rate of 6% and a surtax of 82%.
- 1944: The top rate peaked at 94%, with a regular rate of 3% and a surtax of 91%.
- 1945-1963: The top rate was 91%, with a regular rate of 3% and a surtax of 88%.
- 1964: The top rate was reduced to 77%, with a regular rate of 3% and a surtax of 74%.
- 1965-1981: The top rate was 70%, with no surtax.
- 1982-1986: The top rate was 50%, with no surtax.
- 1987: The top rate was 38.5%, with no surtax.
- 1988-1990: The top rate was 33%, with no surtax.
- 1991-1992: The top rate was 31%, with no surtax.
- 1993-2000: The top rate was 39.6%, with no surtax.
- 2001: The top rate was 39.1%, with no surtax.
- 2002: The top rate was 38.6%, with no surtax.
- 2003-2012: The top rate was 35%, with no surtax.
- 2013-2017: The top rate was 39.6%, with no surtax.
- 2018-2022: The top rate was 37%, with no surtax.
As of 2024 and 2025, the highest marginal tax rate is 37%. However, if the Tax Cuts and Jobs Act of 2017 is not extended, the top federal income tax bracket is set to rise to 39.6% in 2026.
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There were plenty of dodges in the tax code for the wealthy. They didn't pay all that money, at all. They paid the politicians to set that up for them.
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absolutely, anything to minimize your tax liability
that's the problem with Congress and CBO, they think no one will hire lawyers and accountants to create tax shelters etc
update:
one of the enduring effects of Carter and Reagan is highest bracket will never hit 40%, not even Obama and Biden had the nerve go there but we know they did
Brave ai made an error about 1986. The top bracket was cut to 28%.
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It jumped so they could do WWI. You know, the war to end all wars. They had to take the money from someone, didn't they. So, they took it from the slaves citizens.
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Lincoln imposed temporary income tax during the Civil War
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He had to steal the money for the war somehow!! That was also when gold was money.
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Civil war green backs
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They were supposedly exchangeable for gold at the going rate of $20 per ounce.
I don't know what all the legislators were thinking when they voted for the amendments. Oh, yeah, It was all done fraudulently, from the legislatures approving the amendments to the count of states that actually approved the amendments. All was fraud.
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I thought passing an amendment was supposed to be hard
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Only when you do it honestly. If you do it fraudulently it is much easier. They just fly through bribed legislatures.
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Trump doesn't have to eliminate income tax to make people happy.
Drop the highest bracket to 25 and he will be more popular than Reagan
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Didn't he do that before?
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Reagan did 28 in 1986
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37 not 25
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