Quote:
Originally Posted by TheDA
50% income tax now! Since when? It's only 40% at the moment.
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People like to exagerate. It's like when neo-cons brought up how in the 1960's the US had a tax rate as 90%. Making it sound as if some "poor" millionaire was paying 90% of his income in taxes. Um no the 90% tax rate only applied to income over $5 million. Which would be about $25-$30 mil in today's dollars. The number of people that made over $5 milion a year back then was around 1000.