claim: "when we got the income tax in 1913, the top rate was 7 percent. by 1980, the top rate was 70 percent."
author: michele bachmann
evidence_1: in 1913, the top tax bracket was 7 percent on all income over $500,000 ($11  million in today's dollars1); and the lowest tax bracket was 1 percent.2 ... the  1980s. the economic recovery tax act of 1981 slashed the highest rate from 70  to 50 percent, and indexed the brackets for inflation. then, the tax reform act of  1986, ...
evidence_2: sep 26, 2013 ... assuming that intent is best found among the people doing the intending, there's  no reason to assign much normative value to the boundaries of the original law.  in 1913 congress enacted a top rate of 7 percent and a high exemption that  spared all but 2 percent of households entirely. but just five years ...
evidence_3: jan 31, 2012 ... first of all, paul had a reason for mentioning 1913; the 16th amendment to the  constitution was ratified that year, legalizing a federal income tax, and ... the law  also put in place a graduated surtax on incomes above $20,000; the highest rate  paid, 7 percent, applied to americans making more than ...
evidence_4: u.s. federal individual income tax rates history, 1862-2013 (nominal and  inflation-adjusted brackets). october 17, 2013. to zoom in, print, select text or  search the following document, please use the grey toolbar below.
evidence_5: following world war ii tax increases, top marginal individual tax rates stayed  near or above 90%, and the effective tax rate at 70% for the highest incomes (few  paid the top rate), until 1964 when the top marginal tax rate was lowered to 70%.  kennedy explicitly called for a top rate of 65 percent, but added that it should be  set ...