Under Roosevelt, the top rate was raised at first to 79…
““Under Roosevelt, the top rate was raised at first to 79 percent and then later to 90 percent. Economic historian Burton Folsom notes that in 1941 Roosevelt even proposed a whopping 99.5-percent marginal rate on all incomes over $100,000. “Why not?” he said when an advisor questioned the idea.40””
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
Roosevelt considered extremely high tax rates, even up to 99.5% for top incomes, as a policy option.
In simple terms: Roosevelt once proposed near‑total tax on the wealthiest.
Key Takeaway
High taxes can be used to fund public goals.
Themes
tax policy
history
inequality
Mood
analytical
historical
Type
informative
political
When to use this quote
- war financing
- wealth redistribution
- public debate
Key Concepts
progressive taxation
government finance
Questions to Reflect On
- What are the trade‑offs of very high marginal taxes?
- How do such rates affect economic behavior?
A Different Perspective
Extreme rates may discourage investment and work.