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Originally Posted by TheDoc
Personal tax %'s and %'s paid by corps is at a all time low, in like the last 100 years
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You should learn history. The tax payer was PROMISED that the TOP tax rate would never go above 10%.
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In 1913, 358,000 returns were filed which was 2% of all households. While the top tax rate was 7% on incomes above $500,000 ($10.9 million in 2010 dollars), the first $3,000 ($65,331 in 2010 dollars) was exempt from the the income tax for single persons.
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Do people need to pay taxes on their first 65k? Is that tax more than 1%?
