#incometaxrate — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #incometaxrate, aggregated by home.social.
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#UShistory #Economics #Equality
(7/n)
...prosperity...."👈
Let's have a brief review of the #US' 20th century #IncomeTaxRate:
"👉From 1918 through 1981 (easy to remember ;)) the marginal rate in the #US varied between 70% and 94% percent.👈
[#MarginalTaxRate: the percentage of your income you must pay to the #Treasury on the last dollar you earn in progressive tax systems.]
And then, #Reagonomics and #TEFRA happened, the Tax Equity and #Fiscal Responsibility Act of 1982.
👉It...