Search FAIRtax.org

Income Taxes On The Top 0.1 Percent Weren’t Much Higher In The 1950s

Income Taxes On The Top 0.1 Percent Weren’t Much Higher In The 1950s
Photo Credit: Red and Yellow Stop! Sticker by Linda Eller-Shein is licensed under Pexels NA
Lawmakers have recently announced plans that would increase the tax burden on wealthy Americans, ranging from higher marginal income tax rates to wealth taxes.
 



These proposals are flawed in several ways, including in their lack of understanding of tax history.

While marginal income tax rates have come down from their highs of 91% and 92 % in the 1950s, changes in the tax base—how much and what types of income are subject to the tax—mean the effective rates on the wealthy haven’t changed nearly as much.

According to the most recent IRS data, the top 0.1% of taxpayers paid more than 6 times the share of federal income taxes than the bottom 50% of taxpayers combined.

By historical standards, the very top income earners do not face an unusually low income tax burden.

Help FAIRtax Get In The Presidential Debates in 2020

Enacting the FAIRtax must be a prominent topic on the Presidential Debate stage. We did it before, we can do it again, but we need your help!

Your gift of $25, $50, $100 – even $1,000 or more if you can possibly spare it – will help FAIRtax.org bring an end to the IRS and promote a FAIRtax. So, I urge you, please give as generously as you can.
To donate by check:
Americans for Fair Taxation
PO Box 4929
Clearwater, FL 33758

If you need to make changes to your existing Monthly Re-Occurring Donation with new card or billing address information, then Please call Adam Yomtov our New York State Co-Director. He is assisting with the administration of our donations, technology services, and website.

Please note: Inputting your new information at our website won't update your donation. The only way to update is by calling Adam Yomtov 917-689-3931 mobile.


Americans for Fair Taxation® is a 501(c)(4) non-profit, non-partisan grassroots organization solely dedicated to replacing the current income tax system with a fair, simple and transparent national consumption tax – the FAIRtax® Plan. We rely entirely on contributions from concerned citizens like you who want a tax system that will generate jobs and stimulate the economy. Welcome to the FAIRtax team!

Connect

Share