Here is a chart from the National Taxpayers Union that shows the history of the lowest and highest income tax brackets from 1913 to 2000.
Note that from 1936 to 1980 the top tax rate was over 70%. High income earners were paying 70% or more of their income in taxes. In 1981, Reagan passed the most sweeping tax cuts in history where the highest rate went to 50% in 82-86, 38.5% in 87, and finally to 28% in 88-90.
The rate was increased, thanks to Bush 41 and Clinton to 39.6% in 1993 where it has been since.
During this same time, the lowest rate has been from 4% to 15%, where it remains today.
So what is fair? Liberals say the "rich" are not paying their fair share of taxes. They seem to think that somebody paying nearly 40% of what they earn to the Federal Government is not enough. Would Liberals be happier if the rich paid over 70% again?
According to another chart from the National Taxpayers Union, in 2004, the top 1% of income earners paid 36.89% of the Federal taxes and the top 50% pay 96.7% while the bottom 50% of income earners paid 3.3%. The rich are more than paying their fair share. Half of the people fund the government while the other half are going along for the ride. Is that fair?
For those Liberals who believe in a progressive tax, we have it. The bottom rate is 15% while the top rate is over double that at 39.6%. The new Democrat majority will want more, however. So you will see them bash the rich and playing their tried and true class warfare game in an effort to raise their taxes.
It's simply not true. The facts are what they are.