lionkoy5555@lemmy.world to No Stupid Questions@lemmy.world · 1 month agoIs it really possible to tax the rich?message-squaremessage-square88fedilinkarrow-up1164arrow-down19file-text
arrow-up1155arrow-down1message-squareIs it really possible to tax the rich?lionkoy5555@lemmy.world to No Stupid Questions@lemmy.world · 1 month agomessage-square88fedilinkfile-text
minus-squareadarza@lemmy.calinkfedilinkEnglisharrow-up44·1 month agopeaked during ww2 at 94% on high incomes (over what would be about 2.5m today). stayed at 70% or above until reagan… the entire 50s, 60s, and 70s.
minus-squareAA5B@lemmy.worldlinkfedilinkarrow-up6·1 month agoAnd what was the capital gains tax rate at that time? Why do wealthy people get to call their income something else and get taxed less on it? You have to go even further back, for a time when both sources of income were taxed the same https://www.wolterskluwer.com/en/expert-insights/whole-ball-of-tax-historical-capital-gains-rates
peaked during ww2 at 94% on high incomes (over what would be about 2.5m today). stayed at 70% or above until reagan… the entire 50s, 60s, and 70s.
And what was the capital gains tax rate at that time? Why do wealthy people get to call their income something else and get taxed less on it?
You have to go even further back, for a time when both sources of income were taxed the same