Do you know what the top marginal income tax rate was under Republican President Dwight D Eisenhower?
61-69, M
This page is a permanent link to the reply below and its nested replies. See all post replies »
BizSuitStacy · M
Yes. 91%. Is this some sort of "look at the tax rate under a republican president" thing? Check your history...those extreme tax rates go back well before Eisenhower. In 1944 & 1945, the highest marginal rate in history was 94% under FDR.
Do you know what the top marginal income tax bracket was in 1912?
Do you know what the top marginal income tax bracket was in 1912?
justanothername · 51-55, M
@BizSuitStacy I’d say the top income in 1912 was considerably less than what it is in 2023
BizSuitStacy · M
@justanothername it was 0%. There was no institutional federal income tax prior to 1913. Lincoln flirted with them as Revenue Acts in the 1860s to pay for the civil war. It stopped between 1872 and 1912, with a one year exception in 1894.
The Wilson-Gorman Tariff Act of 1894 was controversial and the supreme court ruled all income taxes were unconstitutional until the 16th amendment was ratified. Tax rates were very low until 1917, when the top marginal rate hit 67%.
The Wilson-Gorman Tariff Act of 1894 was controversial and the supreme court ruled all income taxes were unconstitutional until the 16th amendment was ratified. Tax rates were very low until 1917, when the top marginal rate hit 67%.