Tax Time

[resident_evil]

Interestingly, even the lowest earners paid at a rate of 20 - 22 %.

Good idea..

You mean back in 1955?

 

[Arkady]

Well, you failed miserably this time. Try again?

Of course. I'm always willing to try again. This particular audience certainly presents its challenges, though.

 

[resident_evil]

Of course. I'm always willing to try again. This particular audience certainly presents its challenges, though.

You have your share of avid supporters (i.e. Swimmer). :0)

 

[Arkady]

Interestingly, even the lowest earners paid at a rate of 20 - 22 %.

Good idea..

I'd love to know how that worked, because it's really hard to picture how lower earners scraped by with such high taxes. By the late 1960s, wage scales were such that it makes sense they could get by. Even minimum wage, in 1968, was over $11 in today's money, and men, at least, had higher real median incomes than they have today. But in the mid-1950s, minimum wage was even a bit lower than today, adjusted for inflation and median real incomes were quie a bit lower. I wonder if there were bigger exemptions.