The highest rate of income tax was during WWII. It was an eye-watering 99.5%
During the 50s and 60s it was a "more reasonable" 90%.
> The highest rate of income tax peaked in the Second World War at 99.25%.It was slightly reduced after the war and was around 90% through the 1950s and 60s.
I'm in favour of income tax, and I've spoken strongly against people who avoid their tax to extreme levels. But 90% is just nuts. I'd much rather have a 25% and actually collect it from everyone than 40% and only collect it from people who don't pay accountants to avoid it.
There's a really interesting series on UK Channel 4 called "Skint" about a poor neighbourhood in Scunthorpe. It's grim, depressing, watch.
During the 50s and 60s it was a "more reasonable" 90%.
> The highest rate of income tax peaked in the Second World War at 99.25%.It was slightly reduced after the war and was around 90% through the 1950s and 60s.
(http://en.wikipedia.org/wiki/Taxation_in_the_United_Kingdom#...)
I'm in favour of income tax, and I've spoken strongly against people who avoid their tax to extreme levels. But 90% is just nuts. I'd much rather have a 25% and actually collect it from everyone than 40% and only collect it from people who don't pay accountants to avoid it.
There's a really interesting series on UK Channel 4 called "Skint" about a poor neighbourhood in Scunthorpe. It's grim, depressing, watch.