One of the major accomplishments for the Kennedy administration was a major tax cut that finally brought the top rate under 80% — a threshold that hasn’t been cleared since. However, the combined costs of Lyndon Johnson’s Great Society and the ever-expanding war in Vietnam helped keep the top rate above 70% for the remainder of the decade.
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2 thoughts on “Then and Now: The Top Tax Rates Over the Last Century”
Property taxes are illegal, because the property owner has to carry the expenses of the more numerous none property owners. Taxes should apply equally to all Americans.
It does. Cecelia, don’t you imagine that the property owners, by way of their financial advisors,are accounting for property taxes in the rents charged to their tenants? That would include commercial property, certainly. It simply makes sense to pass some of that on, since it’s a cost of doing business. Being a renter doesn’t indicate a lack of intelligence. I’m sure it’s also something your restrauranteur, jewelry store, furniture store, or other favorite place, consider when first deciding on pricing for goods and services.