78 • RUBY, WILDING & SWANSBURG
It tracks the top federal tax rate throughout history, usually from the early 1900s through today. It’s an encouraging chart. It shows that—historically sa pt eo at hk ei nr gt —i mtehsei nt ohpi smt oarryg,i lni ka le ttahxersattaer tt oodf at hy ei sRmo aurcihn gl oTwwe er nt ht iaens or following World War II. Looking at this chart, you might think, “Hey, things aren’t so bad today.” BThuet, pyrooub’dlebme wmiitshtatkoepnm. arginal tax rates is that not many pp ee or cpel ne t p. Ba yu t t thheamt 9. 1Y epse, ricne nt ht eb r1a9c5k 0e ts ,i nt o1p9 5r a0t we sa ws oenr el y naepaprl i 9e d0 tmoihlloiounseohf oalndnsuwailtihnicnocmome teoodvaeyr. $200,000—which is about $2 ³² Very few people in 1950 were paying that rate. So, it’s not a great barometer of the overall tax environment. m Th o a r t e T ’s h c t a l h o t e ’ s s e m w ly i h d a y d l I i l g e li n k q s e u w i t n o i t t a i h l n e a . w l yhzaet aAdmi fef er irceannt smme aa syupr ea —y ionn teatxheast. ³² Erica York. Tax Foundation. May 31 , 2 022 . “Income Taxes on the Top 0.1 Ptaexrecse-notnW-theere-rnic’thM-1u9c5h0Hs-ingohte-rhiinghthe 1950s.” https://taxfoundation.org/income-
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