In the 1950s the top federal tax rate on individual earners in the U.S. exceeded 90%. The number is eye-catching to say the least, but it’s also a bit misleading.
As low-tax advocates Brian Domitrovic and Larry Kudlow reported in their 2016 book JFK and the Reagan Revolution, the actual tax rate for America’s richest was quite a bit lower. More in the 20 to 30% range. Still way too high, but much lower than the headline rate.
Read Full Article »
