Reply #3: 91% Was the Maximum Rate [View All]

[Blue Wally]

Before the JFK tax cuts of 1963 dropped it to 70%. It applied to all income over $250,000.

Highest rate under Clinton was 39.6%.

We need to make sure that brackets are indexed for inflation. The consensus for a progressive income tax came unglued in the 70s as inflation drove the middle class into tax brackets originally conceived for the filthy rich.

Amazingly enough, Tom Delay had some pretty good ideas several years ago on tax simplification.