The 1930s and 1940s top tax brackets were reversed under Johnson and Nixon - but that left the top tax bracket at about 70%.
We may blame Reagan and Bush 41 for cutting it far further (to 50% and then <40%).
@michael_w_busch @coolcalmcollected with those high brackets came the growth of businesses specializing in packaging and selling tax shelters. Business was brisk in these products
That would be a reason to create better rules.
@michael_w_busch @patrascan @coolcalmcollected My workplace subscribes to a bunch of our country's top finance rags, and the whining on print in them by the richest people here who "had to flee the country and move to Switzerland to escape the taxes" just makes my blood boil. One of them even managed to play the victim when he realised he'd been kicked out of the national healthcare system as a consequence!
@veronica @michael_w_busch @patrascan @coolcalmcollected
"I found a way to not pay into a system... And now I can't benefit from that self-same system! In being oppressed!"