>>509300332You don't understand what it is the communists are complaining about. You would need to understand not what it is that they want, but what they want to go back to.
World War I
In order to finance U.S. participation in World War One, Congress passed the 1916 Revenue Act, and then the War Revenue Act of 1917. The highest income tax rate jumped from 15 percent in 1916 to 67 percent in 1917 to 77 percent in 1918. War is expensive.
After the war, federal income tax rates took on the steam of the roaring 1920s, dropping to 25 percent from 1925 through 1931.
The Depression
Congress raised taxes again in 1932 during the Great Depression from 25 percent to 63 percent on the top earners.
World War II
As we mentioned earlier, war is expensive.
In 1944, the top rate peaked at 94 percent on taxable income over $200,000 ($2.5 million in todayโs dollars3). Thatโs a high tax rate.
The 1950s, 1960s, and 1970s
Over the next three decades, the top federal income tax rate remained high, never dipping below 70 percent.
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, claiming that it was a two-tiered flat tax, expanded the tax base and dropped the top rate to 28 percent for tax years beginning in 1988.4 The hype here was that the broader base contained fewer deductions, but brought in the same revenue. Further, lawmakers claimed that they would never have to raise the 28 percent top rate.
The 28 percent top rate promise lasted three years before it was broken.
Essentially they want to go BACK to a 50-70% tax rate for top earners.