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31 sats \ 8 replies \ @Bell_curve 1 Feb \ parent \ on: Replace The Income Tax With Tariffs? Politics_And_Law
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.
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