“I have the memory of my father saying in 1979 that he paid a 50% rate on his income.”
He paid 50% or more on his income above a certain level. My dad stopped taking contract work in the fall of about ‘65 because he hit the 91% level.
The 91% level was in the Eisenhower era.
Tax rates were cut in the Kennedy era.
from google:
A Brief History of the Top Tax Rate
Urban Institute
https://www.urban.org › sites › files › publication
PDF
by A Carasso · Cited by 1 — Reagan-sponsored tax legislation in 1981 lowered it to. 50 percent (although there already was a maximum tax on “earned” income of 50 percent).