Quote:
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From 1951 until 1963, income over $400k was taxed at 91% or 92%.
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Those numbers are simply not interesting in isolation.
* No adjustment for inflation. $400k in 1951 would be $3,267,908 today.
* No adjustment for what is considered income. The definition has changed.
* No consideration of taxing capital gains which happened at vastly different rates and different rules over time.
* Different world conditions, changing whether rich people were immigrating or emigrating and much more.