Forbes has published an article, “Taxing the Rich: The Evolution of America’s Marginal Income Tax Rate [Infographic],” which discusses the marginal income tax rate and its trends from the early 1900s to the modern day using a line chart graphic. The article begins as follows:
Last week, The New York Times NYT-1.6% reported that President Biden is seeking to increase taxes on the rich in order to fund childcare and education under a strategy dubbed The American Family Plan. This is expected to involve investments to fight poverty, reduce childcare costs, establish a national paid leave program and introduce both free prekindergarten and community college. The plan would be offset by nearly doubling the capital gains tax for people earning more than $1 million per year while the top marginal income tax rate would be raised from its present 37% to 39.6%.
Click here to see full article: “Taxing The Rich: The Evolution Of America’s Marginal Income Tax Rate [Infographic]”
Posted by Anthony Tran, Associate Editor, Wealth Strategies Journal
