@guardian

#UShistory #Economics #Equality

(8/n)

...reduced the marginal #tax rate from 70% to just 50%. In 1988, #RonaldReagan and the #GOP slashed it even more to just 28%.👈

The only time in post-WWI #US history that the #MaginalIncomeTaxRate was even lower for a few years, had been in 1925 (25%), which proved to be unsustainable.

After that, it went back up to 39% and stands now at 37%..."

[For a more detailed discussion, see:
https://mastodon.social/@HistoPol/109976532688427491]

"As #BarackObama’s...