[bitsage]

The highest marginal tax rate in the US was 94% in the mid 1940s, and that doesn’t even mean people were paying 94% of their income to taxes. If you look at federal revenue as a percentage of GDP in decade intervals, starting from 1944, you’ll find that the ratio hasn’t changed much since then [1]. Funny enough, it has actually crept slightly upward.

1. https://fred.stlouisfed.org/series/FYFRGDA188S

[coliveira]

Thanks for the 94% correction. But there is no need for the percentage of GDP to increase, it's only enough that the richer pay more, so less will be payed by the lower classes. Not only that, but a reduction in loopholes is also needed. The goal is not to prevent people from making more but to prevent concentration of wealth, so we need to make it harder and harder for huge fortunes to accumulate instead of supporting it.