Down through the years, rates as high as 90% were not uncommon. It has remained low ever since, according to data from the Tax Policy Center, never rising above 40%. This is expected to involve investments to fight poverty, reduce childcare costs, establish a national paid leave program and introduce both free prekindergarten and community college. When Ronald Reagan became president in 1981, he slashed taxes, sending the marginal tax rate tumbling from 70% when he took office to just 28% when he departed. The marginal tax rate is the highest tax rate paid on someone's income and it only applies to income above a certain level.
Ronald Reagan accomplished his goal of Roosevelt economics.
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Ronald Reagan accomplished his goal of Roosevelt economics .
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