TOP FEDERAL INCOME TAX RATES SINCE 1913 (top brackets in nominal dollars) .... 21.2% income tax plus 3.8% Medicare tax;
TOP FEDERAL INCOME TAX RATES SINCE 1913 (top brackets in nominal dollars) Top Regular Rates Above Capital Wages & Unearned Taxable Inc. Gains Year Other Earned except cap gains (joint) of Max Capital Gains Taxation 1913-15 1916 1917 1918 1919-21 1922 1923 1924 1925-28 1929 1930-31 1932-33 1934-35 1936-37 1938-40 1941 1942-43 1944-45 1946-47 1948-49 1950 51-64 64-67 1968 1969 1970 1971 1972-75 1976-77 1978 1979-80 1981 1982 1983 1984-86 1987 1988-90* 1991-92 1993-96 1997-2000 2001 2002 2003-05 2006-07 2008-09 2010-12 2013-on *1988-90 detail:
7% 15% 67% 77% 73% 58% 43.5% 46% 25% 24% 25% 63% 63% 78% 78% 80% 88% 94% 86.5% 82.1% 84.4% 91% 70% 75.3% 77% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 38.5% 28%/33% 31.9% 43.7% 43.7% 43.2% 42.7% 39.0% 38.6% 38.3% 37.9% 44.6%
7% 15% 67% 77% 73% 58% 43.5% 46% 25% 24% 25% 63% 63% 78% 78% 80% 88% 94% 86.5% 82.1% 84.4% 91% 70% 75.3% 77% 70% 70% 70% 70% 70% 70% 70% 50% 50% 50% 38.5% 28%/33% 31.9% 40.8% 40.8% 40.3% 39.8% 36.1% 35.7% 35.4% 35.0% 44.6%
28% 33% 28%
28% 33% 28%
$ 500,000 2,000,000 2,000,000 1,000,000 1,000,000 200,000 200,000 500,000 100,000 100,000 100,000 1,000,000 1,000,000 2,000,000 2,000,000 2,000,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 203,200 203,200 215,400 215,400 85,600 109,400 168,900 90,000 * 84,100 255,100 275,000 297,350 307,050 319,200 343,100 365,300 379,300 390,100 31,050 75,050 155,780
15% 15% 67% 77% 73% 12.5% 12.5% 12.5% 12.5% 12.5% 12.5% 12.5% 31.5% 39% 30% 30% 25% 25% 25% 25% 25% 25% 25% 26.9% 27.5% 32.3% 34.3% 36.5% 39.9% 39% 28% 23.7% 20% 20% 20% 28% 28%/33% 28.9% 29.2% 21.2% 21.2% 21.2% 16.1% 15.7% 15.4% 15% 25%
Realized gains taxed same as other income " " " " Maximum rate " " " " " " Sliding exclusion of 70%>10 yrs; 0% 6 months; 25% maximum " " " " " " Transition " " " 50% exclusion, minimum tax effects " " 60% exclusion 50% or 60% exclusion, etc.,transition 60% exclusion " " Maximum rate Realized gains taxed same as other income Maximum rate " " " 18% top capital gains rate in rare cases Reduced maximum rate, which also applied to dividends " " " 21.2% income tax plus 3.8% Medicare tax; also on dividends
28% 33% 28%
Notes: 1. 1991-2009 and post 2010 rates include the tax-rate effects of the personal exemption phase-out and the partial itemized deduction disallowan enacted in 1990. These provisions began to be phased out in 2006, were eliminated in 2010-12, and are scheduled to be reinstated in 2013. 2. 1993-2012 top regular rates on earned income include the 2.9% Medicare tax. 3. 2013-on top rates include the 3.8% Medicare tax on most earned and unearned income for high-income taxpayers enacted in 2010, and the scheduled expiration of the Bush tax cuts after 2012. 4. The definition of taxable income varied very substantially over the years. Taxable income is always substantially below actual income. 5. For multi-year periods with indexed tax brackets (post-1984) the top-bracket starting points are the averages for the periods. Citizens for Tax Justice, November 2011.
TOP FEDERAL INCOME TAX RATES SINCE 1913 (top brackets in 2010 dollars) Top Regular Rates Above Capital Wages & Unearned Taxable Inc. Gains Year Other Earned except cap gains (joint) of Max Capital Gains Taxation 1913-15 1916 1917 1918 1919-21 1922 1923 1924 1925-28 1929 1930-31 1932-33 1934-35 1936-37 1938-40 1941 1942-43 1944-45 1946-47 1948-49 1950 51-64 64-67 1968 1969 1970 1971 1972-75 1976-77 1978 1979-80 1981 1982 1983 1984-86 1987 1988-90* 1991-92 1993-96 1997-2000 2001 2002 2003-05 2006-07 2008-09 2010-12 2013-on *1988-90 detail:
7% 15% 67% 77% 73% 58% 43.5% 46% 25% 24% 25% 63% 63% 78% 78% 80% 88% 94% 86.5% 82.1% 84.4% 91% 70% 75.3% 77% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 38.5% 28%/33% 31.9% 43.7% 43.7% 43.2% 42.7% 39.0% 38.6% 38.3% 37.9% 44.6%
7% 15% 67% 77% 73% 58% 43.5% 46% 25% 24% 25% 63% 63% 78% 78% 80% 88% 94% 86.5% 82.1% 84.4% 91% 70% 75.3% 77% 70% 70% 70% 70% 70% 70% 70% 50% 50% 50% 38.5% 28%/33% 31.9% 40.8% 40.8% 40.3% 39.8% 36.1% 35.7% 35.4% 35.0% 44.6%
28% 33% 28%
28% 33% 28%
$ 10,903,000 40,010,000 34,071,000 14,441,000 11,851,000 2,596,000 2,550,000 6,376,000 1,251,000 1,275,000 1,367,000 16,334,000 16,093,000 30,821,000 31,151,000 29,667,000 2,596,000 2,450,000 2,087,000 1,821,000 1,810,000 1,536,000 1,360,000 1,253,000 1,188,000 1,124,000 1,077,000 921,500 754,200 679,600 606,100 516,700 193,400 239,500 344,100 172,800 * 132,600 376,900 379,150 379,150 379,150 379,150 379,150 379,150 379,150 379,150 54,500 131,600 273,200
15% 15% 67% 77% 73% 12.5% 12.5% 12.5% 12.5% 12.5% 12.5% 12.5% 31.5% 39% 30% 30% 25% 25% 25% 25% 25% 25% 25% 26.9% 27.5% 32.3% 34.3% 36.5% 39.9% 39% 28% 23.7% 20% 20% 20% 28% 28%/33% 28.9% 29.2% 21.2% 21.2% 21.2% 16.1% 15.7% 15.4% 15% 25%
Realized gains taxed same as other income " " " " Maximum rate " " " " " " Sliding exclusion of 70%>10 yrs; 0% 6 months; 25% maximum " " " " " " Transition " " " 50% exclusion, minimum tax effects " " 60% exclusion 50% or 60% exclusion, etc.,transition 60% exclusion " " Maximum rate Realized gains taxed same as other income Maximum rate " " " 18% top capital gains rate in rare cases Reduced maximum rate, which also applied to dividends " " " 21.2% income tax plus 3.8% Medicare tax; also on dividends
28% 33% 28%
Notes: 1. 1991-2009 and post 2010 rates include the tax-rate effects of the personal exemption phase-out and the partial itemized deduction disallowance enacted in 1990. These provisions began to be phased out in 2006, were eliminated in 2010-12, and are scheduled to be reinstated in 2013. 2. 1993-2012 top regular rates on earned income include the 2.9% Medicare tax. 3. 2013-on top rates include the 3.8% Medicare tax on most earned and unearned income for high-income taxpayers enacted in 2010, and the scheduled expiration of the Bush tax cuts after 2012. 4. The definition of taxable income varied very substantially over the years. Taxable income is always substantially below actual income. Citizens for Tax Justice, November 2011.
