For tax years 1944 through 1951, the highest marginal tax rate for individuals was 91%, increasing to 92% for 1952 and 1953, and reverting to 91% for tax years 1954 through 1963. For the 1964 tax year, the top marginal tax rate for individuals was lowered to 77%, and then to 70% for tax years 1965 through 1981.
The top 1% of the people gather in 25% of the income produced in the United States. This income is not spent as some would have you believe. It accumulates as wealth in the form of expensive homes, bank and investment accounts where it just sits there and does NOTHING.
It’s time to correct this great inequity. In the past this correction was effected by revolution and guillotines. Today we have the liberty to pass laws. Lets do it for for heaven’s sake.