Just thinking you might be interested in this b/c of your political interests. I do a lot of internet research about the deficit/debt because I'm kind of a finance nerd.Thanks for the links and info, Cody!
Anyway, using these two sites, you can see what our personal tax brackets have been and would be nowadays.
Using the first site, you can see a history of tax brackets going back to the beginning of the income tax. Using the second, you can plug in the numbers from earlier years to see what the current brackets should be, if we used the same rates.
Using 1964 as an example, you can see that a couple in that year who made $9,000 was taxed at 23.5%, but in 2011 that salary is worth $62,000 and will be taxed 15%. A couple that made $400,000 was taxed at 77%, which is equivalent to $2.7 million today, but our top rate is 35%.
Just thought you might like checking that out.
Wednesday, May 4, 2011
Taxes, Then and Now
A lot going on, and not a lot of time to blog, so I'm reprising a note I got from a friend that I found to be fascinating.