Just a Chart to Remind us All of How Federal Taxes Have Grown

[JimBowie1958]

Saw this chart online and thought I would share it.

Source

 

[Care4all]

Notice how the lowest tax rate of 1%, increased to ten times higher for the lowest incomes, to 10%....

But the highest tax rate of 7% on the very wealthiest DID NOT get increased to ten times higher, which would be at 70% and not just the 39.5%.

 

[Care4all]

And how so very low they kept the standard deduction capturing all of the poor and middle class....

We've been dicked, the wealthiest making off like bandits.

 

[JakeStarkey]

Care4all's quick analysis says loads more than the OP implies.

 

[yiostheoy]

Bracket creep.

 

[Carl in Michigan]

Notice how the lowest tax rate of 1%, increased to ten times higher for the lowest incomes, to 10%....

But the highest tax rate of 7% on the very wealthiest DID NOT get increased to ten times higher, which would be at 70% and not just the 39.5%.

The "poor" don't pay federal income tax (43%).

 

[Care4all]

Notice how the lowest tax rate of 1%, increased to ten times higher for the lowest incomes, to 10%....

But the highest tax rate of 7% on the very wealthiest DID NOT get increased to ten times higher, which would be at 70% and not just the 39.5%.

The "poor" don't pay federal income tax (43%).

Household combined incomes of 20-50k Is The Poor....not the indigent, not those on welfare, but most certainly the working poor in many, if not most, States.

NO ONE PAID INCOME TAX AT ALL, UNDER $98,400.....the standard deduction for the household was $98.4k, now it's around $12k.

The entire tax rate trend since the start has been putting taxes on to people with lower incomes and easing tax rates on the wealthiest who could afford/had means to pay.