Day: January 16, 2016

History of income tax rates

Anibal Group LLC RealtyNetWorth.com Uncategorized

See if you notice any trends. If so, please comment what you see.4372605-Render-Unto-Caesar-Newspaper-ficititious-headlines-about-Income-Tax-Time-Also-includes-image-of-flag-Stock-Photo[1]

History of income tax rates adjusted for inflation (1913–2010)[70][71]
Number of First Bracket Top Bracket
Year Brackets Rate Rate Income Adj. 2016 Comment
1913 7 1% 7% $500,000 $12 million First permanent income tax
1917 21 2% 67% $2,000,000 $36.9 million World War I financing
1925 23 1.5% 25% $100,000 $1.35 million Post war reductions
1932 55 4% 63% $1,000,000 $17.3 million Depression era
1936 31 4% 79% $5,000,000 $85.3 million –
1941 32 10% 81% $5,000,000 $80.4 million World War II
1942 24 19% 88% $200,000 $2.9 million Revenue Act of 1942
1944 24 23% 94% $200,000 $2.69 million Individual Income Tax Act of 1944
1946 24 20% 91% $200,000 $2.43 million –
1964 26 16% 77% $400,000 $3.05 million Tax reduction during Vietnam war
1965 25 14% 70% $200,000 $1.5 million –
1981 16 14% 70% $215,400 $561 thousand Reagan era tax cuts
1982 14 12% 50% $85,600 $210 thousand Reagan era tax cuts
1987 5 11% 38.5% $90,000 $187 thousand Reagan era tax cuts
1988 2 15% 28% $29,750 $59.5 thousand Reagan era tax cuts
1991 3 15% 31% $82,150 $143 thousand Omnibus Budget Reconciliation Act of 1990
1993 5 15% 39.6% $250,000 $410 thousand Omnibus Budget Reconciliation Act of 1993
2003 6 10% 35% $311,950 $401 thousand Bush tax cuts
2011 6 10% 35% $379,150 $399 thousand –
2013 7 10% 39.6% $400,000 $406 thousand American Taxpayer Relief Act of 2012