Income Tax Rates (Top Marginal Rate)
The highest federal income tax rate applied to top earners, and each party's position on whether it should be raised, lowered, or maintained.
What changed and why
In 1960, the top marginal income tax rate was 91% — and a Republican president (Eisenhower) maintained it without serious opposition. By 2017, a Republican president cut the top rate to 37% with zero bipartisan support. Democrats have remained consistently in favor of higher top rates, while Republicans have moved from accepting high rates to treating any tax increase as a near-absolute line in the sand.
Supports raising top marginal rate to 39.6%+, higher capital gains taxes, a corporate minimum tax, and a wealth tax. Progressive wing advocates 70%+ top rates on incomes over $10M.
Supports making 2017 TCJA tax cuts permanent, further reducing the corporate rate, and eliminating the estate tax. Opposes any rate increases.
Sources for this issue (4)
- Historical Highest Marginal Income Tax Rates — Tax Policy Center (Urban Institute & Brookings Institution)
- History of Taxation in the United States — Wikipedia / Congressional Research Service
- Tax Cuts and Jobs Act of 2017 — Congress.gov
- Revenue Act of 1964 — American Presidency Project, UCSB