Top-bracket tax rates collapsed from 92 to 37 percent since 1953

Evidence

In 2019, the top 1 percent of households accounted for 75 percent of all capital gains in the US, and the top 0.1 percent earned nearly half of all capital gains income, a trend that has only intensified in the last few years. Moreover, while sales taxes, excise taxes (on fuel), and taxes on alcohol—which we all pay equally regardless of income—are growing in most American states, taxes on the top income brackets are declining (from 92 percent in 1953 to 37 percent in 2023) as are federal corporate taxes (from 35 percent to 21 percent in 2017). — Clara E. Mattei, Escape from Capitalism, 147

Categorization

Category: Factual Claims

Related

• Top income-tax rates fell from 92 to 37 percent between 1953 and 2023 (similarity 0.98)
• Top US tax rate cuts correlate with income concentration, not economic growth (similarity 0.81)