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Originally Posted by minoru_tanaka
Is that number right? Sounds a bit insane. Why would I bother trying to make $300K instead of 200K if in the end all I get is 9K more?
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Since 1950, the lowest unemployment rate was in 1953, when it was at 2.5%, and personal tax rates back then was 91% for anyone making more than $200,000.
$200,000.00 in 1953 is $1,641,790.26 in 2011. Thus, anyone making $1.6 million would be taxed marginally at 91%. Tax rates were high back then, and it didnt stop people from making more money.
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This was the top personal income tax rate, not the corporate.
200,000K back then was the equivalent of $1.6 Million today. back then a can of coke probably costs only 5 cents, and a meal at the restaurant would be 50 cents or so.
it's like saying, if you made $1.6 million a year, you only keep $9,000 on the next $100,000 you make.