An economist at the forefront of the growing global push for a billionaire wealth tax is welcoming news that U.S. Democratic presidential nominee Kamala Harris is embracing calls for a minimum levy on the United States' richest individuals.
In the 1950s the top marginal tax rate for couples filing jointly making over $400,000/year was 91%. Adjusting for inflation, that’s $5,200,000. Just to put our current tax structure in context.
In the 1950s the top marginal tax rate for couples filing jointly making over $400,000/year was 91%. Adjusting for inflation, that’s $5,200,000. Just to put our current tax structure in context.