How did a 90% tax bracket affect the rich?
Honest question, as I don’t know. How did the rich deal with this, in the 40’s and 50’s? I know the rich existed.
Tax rates, 1913-2011
Tax Foundation: U.S. Federal Individual Income Tax Rates History, 1913-2011
Interesting note, while the top rate in 1950 was 91%, the lowest rate was 20%. So they collected a lot more from the entire spectrum, not just the rich. Adjusted for inflation, the 91% rate was on incomes above $1,862,072. The 20% rate was up to $18,621, also inflation adjusted.