canceled.2021.1
#AMERICAISDEAD
Often times I hear the lefties scream that we should go back to the 1950s where the top marginal tax rate was 91% and we had fiscal nirvana. So I decided to go looking at what the tax rates for 1950 actually were. Here you go. Now bear in mind these are inflation adjusted numbers so these are what 1950 tax rates would like in todays income. Notice that those making under $20,000 a year would pay 20%? Now, I will use our good friend Steelplate as an example since he has on so many occasions been so kind as to tell us that he and his lovely bride earn $110,000 a year. Assuming that they file jointly, today they are in the 25% bracket. However if they went to the 1950s tax rates, they would be in the 38% bracket. That is a 52% increase in taxes for Steelplate. So Steelplate my friend, are you still interested in going back to 1950s tax rates? No cherry picking. You can't just pick the top nominal rate. These are the tax rates for EVERY SWINGING DICK in 1950. I think I will start a poll.
Tax Rate Over, But Not Over
20% - $0, $19,053
22% - $19,053, $38,107
26% - $38,107, $57,160
30% - $57,160, $76,214
34% - $76,214, $95,267
38% - $95,267, $114,321
43% - $114,321, $133,374
47% - $133,374, $152,428
50% - $152,428, $171,481
53% - $171,481, $190,534
56% - $190,534, $209,588
59% - $209,588, $247,695
62% - $247,695, $304,855
65% - $304,855, $362,015
69% - $362,015, $419,176
72% - $419,176, $476,336
75% - $476,336, $571,603
78% - $571,603, $666,871
81% - $666,871, $762,138
84% - $762,138, $857,405
87% - $857,405, $952,672
89% - $952,672, $1,429,008
90% - $1,429,008, $1,905,344
91% - $1,905,344,
Tax Rate Over, But Not Over
20% - $0, $19,053
22% - $19,053, $38,107
26% - $38,107, $57,160
30% - $57,160, $76,214
34% - $76,214, $95,267
38% - $95,267, $114,321
43% - $114,321, $133,374
47% - $133,374, $152,428
50% - $152,428, $171,481
53% - $171,481, $190,534
56% - $190,534, $209,588
59% - $209,588, $247,695
62% - $247,695, $304,855
65% - $304,855, $362,015
69% - $362,015, $419,176
72% - $419,176, $476,336
75% - $476,336, $571,603
78% - $571,603, $666,871
81% - $666,871, $762,138
84% - $762,138, $857,405
87% - $857,405, $952,672
89% - $952,672, $1,429,008
90% - $1,429,008, $1,905,344
91% - $1,905,344,
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