> On April 16, 2019 at 6:49 PM archer75--- via Mercedes <mercedes@okiebenz.com> > wrote: > > > Back in the late '40s a wealthy man told me he was unhappy about spending the > winter in Florida (his wife loved it) but he might as well because he only > made six cents on the dollar if he stayed and worked in New York; Wall Street > I seem to remember. Do you know what the tax rate for the wealthy was then?
In 1944, the top rate peaked at 94 percent on taxable income over $200,000 ($2.5 million in today’s dollars3). That’s a high tax rate. We've got a list member on Banned who wants to see it come back. If there was state and city income tax on top of it, I wonder if it was possible to owe more than 100% marginal rate? I have no idea how old NYS and NYC income tax is. https://bradfordtaxinstitute.com/Free_Resources/Federal-Income-Tax-Rates.aspx Mitch. _______________________________________ http://www.okiebenz.com To search list archives http://www.okiebenz.com/archive/ To Unsubscribe or change delivery options go to: http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com
