Many of the social programs Americans view as absolutely essential today — most notably the Federal Deposit Insurance Corporation and Social Security — were born out of this era. That meant that the size of the government would have to expand, and the tax rates expanded with it. In 1932, the top tax rate nearly tripled from 25% to 63%. Then, in 1936, it jumped again to 79%.
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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.