Have The Rich Always Laughed Stiff Tax Rates Away?

| Educate!

Above Photo: Mike Cohen/Flickr

Fans of grand fortune want us to believe that the rich have never paid much more of their income in taxes than they do now. Our actual history says different.

  • Thom Rip

    The last 2 year of Amazon’s O taxes with 6, and then 13 billion dollars of profit, is unthinkable, but the tax code reality we face. Any candidates mention that yet? ..NOoo

  • D Turgeon

    And they never will, with the exception of Bernie Sanders and (maybe) Elizabeth Warren.

  • nyc girl

    Actually, despite the top marginal tax rate being 91% in the 1950’s, the effective
    rate was 42%. Additionally: “The 42.0 percent tax rate on the top 1
    percent takes into account all taxes levied by federal, state, and local
    governments, including: income, payroll, corporate, excise, property, and estate
    taxes. When we look at income taxes specifically, the top 1 percent of taxpayers
    paid an average effective rate of only 16.9 percent in income taxes
    during the 1950s.” https://taxfoundation.org/taxes-rich-1950-not-high/