toprate_historical - 6-Nov-08 Historical Highest Marginal...

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Unformatted text preview: 6-Nov-08 Historical Highest Marginal Income Tax Rates Top Marginal Rate 7.0% 7.0% 7.0% 15.0% 67.0% 77.0% 73.0% 73.0% 73.0% 56.0% 56.0% 46.0% 25.0% 25.0% 25.0% 25.0% 24.0% 25.0% 25.0% 63.0% 63.0% 63.0% 63.0% 79.0% 79.0% 79.0% 79.0% 81.10% 81.00% 88.00% 88.00% 94.00% 94.00% Top Marginal Rate 86.45% 86.45% 82.13% 82.13% 91.00% 91.00% 92.00% 92.00% 91.00% 91.00% 91.00% 91.00% 91.00% 91.00% 91.00% 91.00% 91.00% 91.00% 77.00% 70.00% 70.00% 70.00% 75.25% 77.00% 71.75% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00% Top Marginal Rate 70.00% 70.00% 69.13% 50.00% 50.00% 50.00% 50.00% 50.00% 38.50% 28.00% 28.00% 31.00% 31.00% 31.00% 39.60% 39.60% 39.60% 39.60% 39.60% 39.60% 39.60% 39.60% 38.60% 38.60% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% Year 1913 1914 1915 1916 1917 1918 1919 1920 1921 1922 1923 1924 1925 1926 1927 1928 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1945 Year 1946 1947 1948 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 Year 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Note: This table contains a number of simplifications and ignores a number of factors, such as a maximum tax on earned income of 50 percent when the top rate was 70 percent and the current increase in rates due to income-related reductions in value of itemized deductions. Perhaps most importantly, it ignores the large increase in percentage of returns that were subject to this top rate. Sources: Eugene Steuerle, The Urban Institute; Joseph Pechman, Federal Tax Policy; Joint Committee on Taxation, Summary of Conference Agreement on the Jobs and Growth Tax Relief Reconciliation Act of 2003, JCX-54-03, May 22, 2003; IRS Revised Tax Rate Schedules ...
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This note was uploaded on 03/03/2010 for the course ACG 6845 taught by Professor Kelliher during the Spring '09 term at University of Central Florida.

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