In 1935, Franklin D. Roosevelt raised the top income tax rate to 79 percent, from 63 percent, and raised the income level that qualified for that rate to $5 million (about $75 million today) from $1 million. As the economist Bruce Bartlett has noted, that 79 percent rate apparently applied to only one person in the entire country:
John D. Rockefeller
courtesy of Digbysblog
Who Is Cowtown Pattie?
- Cowtown Pattie
- I was Lillie Langtry in another life, and might have a crush on Calamity Jane.
1 comment:
Interesting. The way things have gone in rercent years, a million bucks of buying power doesn't buy what it used to. A million bucks is chuump changed to the people we bailed out. Sigh. And I just found out that benefits have been cut to low income people (mostly elders).
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