Tapati (tapati) wrote,
Tapati
tapati

Reagan Taxed the Rich More Than Obama

Through most of the Reagan presidency, the upper tax bracket was 50% and the income level that % started at was in the 100K range. In the 1950s the highest tax bracket paid 91-2% Today that upper bracket starts in the upper 300Ks and is 35%. President Obama only wants to increase it back to Clinton level of 39%. I guess the Tea Party was a little late in getting started, huh?

For a history of the highest and lowest tax brackets and percentages for each year we've had income tax in the U.S., please check out:

http://ntu.org/tax-basics/history-of-federal-individual-1.html
Tags: finance, politics, taxes
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