17. February 2014 · Comments Off · Categories: Tax Rate · Tags: , , ,

TAX RATE DURING WWII

Op-ed: We require World War II tax program to attack issues about house front

During the previous several years I've had the advantageous fortune to satisfy for lunch each different Friday with a little group of neighbors along with a unique customer to speak regarding active issues plus occasions at house plus found on the nationwide scene. The topics discussed at a latest …
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I am reading an post inside Wikipedia:

http://en.wikipedia.org/wiki/Income_tax_in_the_United_States

It has a chart which claims which the greatest bracket inside 1944 went about 94%… is this true? I recognize Wikipedia often has mistakes… this really doesn’t appear possible! That signifies which several whom produced a million $ (I imagine which will be the inside the greatest bracket) might need to pay $ 940,000 inside federal taxes… they will be left with $ 60,000 (plus perhaps nonetheless need to pay state taxes!). In truth, the historic taxes bracket for the greatest money appears to usually been high than today, at smallest till the Reagan era (I do need to acknowledge I think he was right inside reducing… I don’t care how much we create, anything over 50% is ridiculous!!)… yet it does create me question why the heck individuals are complaining thus much regarding taxes today…

Answer by Brutal Chaos
yep its 100% correct

Answer by PJ
It was truly excellent. I don’t think it was 94%.

Folks utilized to have more sense of civic responsibility.

http://www.truthandpolitics.org/top-rates.php

It looks like it was 94% – here is a separate website which states which. With alternative % for different years.

Answer by Wayne Z
Yes, it was which significant.

Two factors to keep in mind though.

1) It is a marginal taxes rate. Just the money above a certain amount was taxed at which rate.

2) Really, few persons prepared which much cash inside the ’50s.

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