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Taxes on the Rich Were Not That Much Higher in the 1950s
The top 1 percent of Americans today do not face an unusually low tax burden, by historical standards. In the 1950s, when the top marginal income tax rate reached 92 percent, the top 1 percent of taxpayers paid an effective rate of only 16.9 percent.
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There are a number of sources of state and local tax collections each with important implications for revenue stability and economic growth. Which taxes does your state and/or locality rely on most?
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