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All the Perl that's Practical to Extract and Report

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  • by ziggy (25) on 2005.10.27 9:16 (#44207) Journal
    At the highest incomes, income taxes are a staggering 45%.

    As Frej pointed out, Finland's tax system is progressive, not flat, so this is a marginal rate.

    Through the Kennedy Administration (IIRC), the US Marginal tax rate was about 60%. It was somewhat high until the Reagan administration, when the tax code was cleaned up and replaced with a three(?)-step rate structure (with oodles of shelters). That "high" tax rate was justified at the time because it was a 60% tax on all income above $1MM/year (back when $1MM was really a lot of money), the government needed money to fight the Red Menace, pay off the debts incurred fighting WWII, and fund the Marshall plan to rebuild Europe.

    All told, high marginal tax rates aren't the most evil thing in +++ NO CARRIER