The Fed Brought a Knife to an Inflation Gun Fight - Ep 873
The Peter Schiff Show Podcast
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Taxes in the 1970s and 1980s
In 1970 the top tax bracket kicked in at an income of a hundred thousand dollars per person or two hundred thousand dollars for a family to put that in perspective if you adjust it for the official CPI which says that prices are about seven and a half times higher today than they were in 1970. Today's top tax bracket of 37% doesn't kick in for married couples until they have 647,850 dollars filing jointly or for single filers until they have annual income of 539,900. In 1970 people hit the 36% bracket so just 1% below with household incomes as low as 24,000 using a CPI that would be a 36% rate for individuals with annual incomes of just 90
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