- Bottom tax rate, with deductions, is 4%.
- That bottom tax was on the first $4,000 which inflation adjusts to $50,000.
- At $250,000 ($20,000 in 1919) the tax rate is 17%.
- At one million dollars ($80,000 in 1919) the tax rate is 47%.
- The top tax rate is imposed on people taking in over $12.5 million (one million 1919 dollars). It is 73%.
Monday, August 10, 2009
Tax Like It's 1919 Again
The government is all at sixes and sevens trying to figure out what to do with CEOs who pay themselves and their co-workers exorbitant bonuses and salaries for sitting around screwing up the economy. It ain't that hard, just bring back the 1919 tax rates.