What was the federal income tax rate in 1960?
Federal – 1960 Single Tax Brackets
| Tax Bracket | Tax Rate |
|---|---|
| $0.00+ | 20% |
| $2,000.00+ | 22% |
| $4,000.00+ | 26% |
| $6,000.00+ | 30% |
What was the tax rate in 1956?
Federal – 1956 Married Filing Separately Tax Brackets
| Tax Bracket | Tax Rate |
|---|---|
| $14,000.00+ | 47% |
| $16,000.00+ | 50% |
| $18,000.00+ | 53% |
| $20,000.00+ | 56% |
What was the highest federal tax rate in 1960?
91%
The top marginal tax rate in 1960 was 91%, which applied to income over $200,000 (for single filers) or $400,000 (for married filers) – thresholds which correspond to approximately $1.5 million and $3 million, respectively, in today’s dollars. Approximately 0.00235% of households had income taxed at the top rate.
What was the top tax bracket in the 1950s?
For tax years 1944 through 1951, the highest marginal tax rate for individuals was 91%, increasing to 92% for 1952 and 1953, and reverting to 91% 1954 through 1963. For the 1964 tax year, the top marginal tax rate for individuals was lowered to 77%, and then to 70% for tax years 1965 through 1981.
What was the tax bracket in 1950?
Federal – 1950 Single Tax Brackets
| Tax Bracket | Tax Rate |
|---|---|
| $2,000.00+ | 22% |
| $4,000.00+ | 26% |
| $6,000.00+ | 30% |
| $8,000.00+ | 34% |
What was the tax rate in the 1930s?
The economy boomed, growing by 59 percent between 1921 and 1929. In 1930, Herbert Hoover raised tax rates from 25 percent to a maximum of 63 percent, and Franklin Roosevelt boosted them to 79 percent later in the decade. The 1930s, to put it mildly, are not remembered as one of the American economy’s better decades.
What was the federal income tax rate in 1957?
Federal – 1957 Single Tax Brackets
| Tax Bracket | Tax Rate |
|---|---|
| $6,000.00+ | 30% |
| $8,000.00+ | 34% |
| $10,000.00+ | 38% |
| $12,000.00+ | 43% |
What was the income tax rate in 1965?
The Revenue Act of 1964, which reduced tax rates and introduced a minimum standard deduction, helped lower the av- erage tax rate to 11.6 percent for 1965.
What was the federal income tax rate in 1965?
Federal – 1965 Single Tax Brackets
| Tax Bracket | Tax Rate |
|---|---|
| $2,000.00+ | 19% |
| $4,000.00+ | 22% |
| $6,000.00+ | 25% |
| $8,000.00+ | 28% |
What was the highest US tax rate in history?
The highest income tax rate jumped from 15 percent in 1916 to 67 percent in 1917 to 77 percent in 1918. War is expensive.