In 1960, the top marginal tax rate was 91%, applying to income over $200,000 for single filers — equivalent to roughly $1.5 million in today’s dollars.
Adding to that, why not have capital gains tax be progressive tax brackets too? That way you don’t disencentivize poorer people investing and have high rates for wealthy people.
Adding to that, why not have capital gains tax be progressive tax brackets too? That way you don’t disencentivize poorer people investing and have high rates for wealthy people.