2026-10-13 02:00 UTC
Does anyone actually know how taxes work in the US? Eisenhower didn’t tax millionaires at 90% only the top portion of their income got taxed that high. The US has a progressive tax bracket system, look it up if you want to know more about us taxes than 99.9 percent of US citizens.
Replies (1)
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@Rivalarrival@lemmy.today 2026-10-13 03:21
Nobody earned enough to be taxed in the top bracket. That was the entire point. To avoid that top bracket, businessmen lowered prices, or paid employees higher wages, or purchased tax deductible goods and services. What they didn’t do was take additional profit, because the IRS would claim 91% of those profits. Everything the businessman did to avoid that punitive top tier was of great benefit to the economy.