In 1960, the top marginal tax rate was 91%, applying to income over $200,000 for single filers — equivalent to roughly $1.5 million in today’s dollars.
Fun fact: In 1966, the Beatles released “Taxman”, protesting the 95% tax rate imposed by the Labour government. It was their first political song. https://en.wikipedia.org/wiki/Taxman
I know that Lemmy is always on the side of poor, starving artists. So when you demand higher taxes, bear in mind that only one of the four Beatles lived long enough to become a billionaire.
When the King of Rock, Elvis Presley, died in 1977, he only had a wealth of $5 million. Today, poor Taylor Swift is only a billionaire, and we’re all appalled how little she gets from streaming. Think about how terrible it would be, if all that money went to taxes.
Yet, Elvis Presley managed to have his jet, and a gaudy house, and as many peanut butter hamburgers as he wanted. Just like Swift (maybe minus the hamburgers). I wonder how she does it.
Fun fact: In 1966, the Beatles released “Taxman”, protesting the 95% tax rate imposed by the Labour government. It was their first political song. https://en.wikipedia.org/wiki/Taxman
I know that Lemmy is always on the side of poor, starving artists. So when you demand higher taxes, bear in mind that only one of the four Beatles lived long enough to become a billionaire.
When the King of Rock, Elvis Presley, died in 1977, he only had a wealth of $5 million. Today, poor Taylor Swift is only a billionaire, and we’re all appalled how little she gets from streaming. Think about how terrible it would be, if all that money went to taxes.
Yet, Elvis Presley managed to have his jet, and a gaudy house, and as many peanut butter hamburgers as he wanted. Just like Swift (maybe minus the hamburgers). I wonder how she does it.