▁in ▁the ▁ 1 9 8 0 s ▁and ▁the ▁Bush ▁administration ▁in ▁the ▁early ▁ 2 0 0 0 s ." ▁ ▁During ▁Republican ▁President ▁Ron ald ▁Re agan ' s ▁ten ure ▁in ▁office ▁the ▁top ▁marg inal ▁income ▁tax ▁rate ▁was ▁reduced ▁from ▁over ▁ 7 0 ▁to ▁ 2 8 ▁percent , ▁high ▁top ▁marg inal ▁rates ▁like ▁ 7 0 % ▁being ▁the ▁sort ▁in ▁place ▁during ▁much ▁of ▁the ▁period ▁of ▁great ▁income ▁equality ▁following ▁the ▁" Gre at ▁Com pression ". ▁ ▁The ▁lowest ▁marg inal ▁rate ▁for ▁the ▁bottom ▁fell ▁from ▁ 1 4 ▁to ▁ 1 1 ▁percent . ▁However ▁the ▁effective ▁rate ▁on ▁top ▁ear ners ▁before ▁Re agan ' s ▁tax ▁cut ▁was ▁much ▁lower ▁because ▁of ▁loop hol es ▁and ▁char itable ▁contributions . ▁ ▁Robert ▁B ella fi ore ▁and ▁Mad ison ▁Mau ro , ▁writing ▁for ▁the ▁Tax ▁Foundation , ▁calculated ▁that ▁effective ▁tax ▁rates ▁for ▁the ▁rich est ▁Americans ▁has ▁decl ined ▁since ▁ 1 9 8 6 . ▁But ▁the ▁share ▁of ▁income ▁tax es ▁paid ▁by ▁the ▁rich est ▁Americans ▁has ▁increased , ▁due ▁to ▁tax ▁exp end it ures ▁increasing ▁the ▁number ▁of ▁low - in come ▁Americans ▁with ▁negative ▁tax ▁rates . ▁ ▁Tax es ▁on ▁capital ▁ ▁Tax es ▁on ▁income ▁derived ▁from ▁capital ▁( e . g ., ▁financial ▁assets , ▁property ▁and ▁business es ) ▁primarily ▁affect ▁higher ▁income ▁groups , ▁who ▁own ▁the ▁vast ▁majority ▁of ▁capital . ▁For ▁example