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Re: Do you know how much Eisenhower raised taxes? 

By: ribit in FFFT | Recommend this post (2)
Tue, 20 Sep 11 1:51 AM | 84 view(s)
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Msg. 33770 of 65535
(This msg. is a reply to 33749 by clo)

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clo
...the effective tax rate (that which is paid after deductions etc) is the same now as it was then.




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Liberals are like a "Slinky". Totally useless, but somehow ya can't help but smile when you see one tumble down a flight of stairs!




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The above is a reply to the following message:
Do you know how much Eisenhower raised taxes?
By: clo
in FFFT
Mon, 19 Sep 11 9:10 PM
Msg. 33749 of 65535

Do you know how much Eisenhower raised taxes?

Today, the top income tax rate is 35 percent, starting at $373,650 for individuals and couples.

By contrast, during the eight years of the Eisenhower presidency, the top rate averaged roughly 90 percent, typically hitting individuals making $200,000 a year or couples making $400,000 a year.

In 2010 dollars, that's equivalent to $1.6 million for an individual and $3.2 million for a couple.
Someone making the 1954 equivalent of $373,650 in today's money would have paid a tax rate of 72 percent back then.
 

http://www.politifact.com/truth-o-meter/statements/2010/sep/22/barack-obama/barack-obama-says-taxes-are-lower-today-under-reag/


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