What was the top marginal federal tax rate for individuals in 1955?
And the correct answer to yesterday’s poll question is…
| Individual Income Tax Parameters | |||
| 1954-1963 | |||
| Taxable Income | Rate | ||
| $0 | - | $4,000 | 20.0% |
| $4,000 | - | $8,000 | 22.0% |
| $8,000 | - | $12,000 | 26.0% |
| $12,000 | - | $16,000 | 30.0% |
| $16,000 | - | $20,000 | 34.0% |
| $20,000 | - | $24,000 | 38.0% |
| $24,000 | - | $28,000 | 43.0% |
| $28,000 | - | $32,000 | 47.0% |
| $32,000 | - | $36,000 | 50.0% |
| $36,000 | - | $40,000 | 53.0% |
| $40,000 | - | $44,000 | 56.0% |
| $44,000 | - | $52,000 | 59.0% |
| $52,000 | - | $64,000 | 62.0% |
| $64,000 | - | $76,000 | 65.0% |
| $76,000 | - | $88,000 | 69.0% |
| $88,000 | - | $100,000 | 72.0% |
| $100,000 | - | $120,000 | 75.0% |
| $120,000 | - | $140,000 | 78.0% |
| $140,000 | - | $160,000 | 81.0% |
| $160,000 | - | $180,000 | 84.0% |
| $180,000 | - | $200,000 | 87.0% |
| $200,000 | - | $300,000 | 89.0% |
| $300,000 | - | $400,000 | 90.0% |
| $400,000 | - | and overa | 91.0% |
If you answered 91%, pat yourself on the back then, go seek help. I rubbed my eyes and winked a few time when I first saw the number too. You can see all of the tax brackets and marginal income tax rates since 1945 here… just in case you’re bored this weekend.
Coming this evening – Obama and McCain; Where do they Stand on Immigration Reform?
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