Federal Income Tax Rates Over Time
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Congress sets the rates and a baseline income amount that falls into them when a tax law is created or changed.
Federal income tax rates over time. Download toprate historical xlsx 12 15 kb. The 1950s 1960s and 1970s. That s a high tax rate. Us tax rates have changed wildly since 1913 when the current federal income tax program was first introduced.
Then the internal revenue service adjusts the income brackets each year usually in late october or early november based on inflation. Tax rate over but not over tax rate over but not over tax rate over but not over tax rate over but not over 10 0 0 17 400 10 0 0 8 700 10 0 0 8 700 10 0 0 12 400. 2021 tax rates and income brackets use these. The federal income tax would remain in effect until its repeal in 1872.
Historical highest marginal personal income tax rates 1913 to 2020. But the era s tax rate was really set with the omnibus budget reconciliation act of 1993. Download toprate historical pdf 8 91 kb. Looking to trim deficits it boosted the top tax rate to 39 6 where it stayed through the end of the decade.
Over the next three decades the top federal income tax rate remained high never dipping below 70 percent. The taxes we pay depend on two things. Average federal tax rates for all households by comprehensive household income quintile. In 1944 the top rate peaked at 94 percent on taxable income over 200 000 2 5 million in today s dollars 3.
In 1986 the top marginal income tax rate was 50 percent and the top 1 percent paid 25 8 percent of all income taxes. In 1894 democrats in congress passed the wilson gorman tariff which imposed the first peacetime income tax. Here s a look at income tax rates and brackets over the years. Download average rate historical all pdf 15 19 kb download average rate historical all xlsx 25 11 kb.
Thirty years later the top marginal income tax rate had fallen to 39 6 percent but the top 1 percent s share of income taxes had risen to 37 3 percent. Federal individual income tax rates history nominal dollars income years 1913 2013 nominal.
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