Tax rates

The tax rates have gone up and down over the years mostly going up during time of war. In WW 2 the top rate was 94%. After the war Eisenhower did not want to lower rates because it looked like it was just for the rich so instead many different deductions were introduced which are pejoratively referred to as loop holes. The top rate held steady at 91% until the Revenue Act of 1964 where the top rate was lowered to 70%. The Economic Recovery Act of 1981 lowered the top rate from 70% to 50%. Then the Tax Reform Act of 1986 lowered the top rate to 28%. Since then it has bounced around in the 30% range with the top rate today of 37%. The top 20% of wager earners pay 91% of all income tax. The cry of pay their fair share is often heard but just how much is that. My answer to the question of who is rich is anyone who makes twice what you do. If you make $50,000 anyone making more than $100,000 is rich. If you make $25,000 anyone making $50,000 is rich. From my perspective no one needs more than one million dollars per year but of course if I made that much I would consider the rich as anyone making more than $2 million.