More freedom?
In 1962 the lowest income tax rate was 20% and the highest was 91%.
The corporate income tax rate was 52%.
Sure there were loopholes and deductions, but the effective tax rate was still much higher than today.
Yes, dumba**, more freedom, lots more freedom. You seem to think the only criteria for freedom is more money and more gadgets. As it was, the tax rate went down a few years later. We had freedoms that people who didn’t live back then have never experienced. As I said, you either didn’t live back then or you are a left wingnut troll.
Average income in 1962 was 6,000. A family of four deducting average expenses totaling 1200 would pay a tax of about 480 or 8% of gross.
Average income now is about 52k and the same family of four would probably pay 2% of gross. A 6% saving. The 62 rates were followed by decreases in 1964.
However, there are other differences.
Social security tax on the same amount would be 2.5% and today 7.65%. A 5.15% increase.
Sales tax rates are generally higher. In CT the rate increased from 3.5% to 6.3%.
Also, state income tax rates are higher. CT went from 0% to 4-5%.
I did not find info on property tax but my guess is that those are significantly higher.
It is undeniable that the family of four is paying more tax when all things are considered. Another thing to consider is the average family income was met by one person working. Today that same average requires 2 working. It could be argued that the total tax burden needs to be met by two workers per family rather than one.