Appendix I: U.S. Marginal Income Tax Rates Since 1913

Year/ /Low/ /High/ /Critical Events
1913/ / 1%/ / 7%/
1916/ / 2%/ /15%/
1917/ / 2%/ /67%/ /WW I
1918/ / 6%/ /77%/
1919/ / 4%/ /73%
-20
1921/ / 4%/ /73%/
1922/ /4%/ /56%/
1923/ / 3%/ /56%/
1924/ /1.50%/ /46%/
1925/ /1.50%/ /25%/ /Great Depression
-28
1929/ /0.38%/ /24%/
1930/ /1.13%/ /25%/
-31
1932/ /4%/ /63%/ /Roosevelt '33-45
-33
1934/ /4%/ /63%
-35
1936/ /4%/ /79%
-39
1940/ /4.40%/ /81.10%/ /WW II
1941/ /10%/ /81%/
1942/ /19%/ /88%/
-43
1944/ /23%/ /94%
-45
1946/ /19%/ /86.45%
-47
1948/ /17%/ /82.13%
-49
1950/ /17%/ /84.36%//Truman ‘45-53
1951/ /20% /91%/ /Korean War
1952/ /22%/ /92%/ /Eisenhower (53-61)
-53
1954/ /20%/ /91%/ /Kennedy '62-3
-63
1964/ /16%/ /77%/ /Johnson ‘63-8
1965/ /14%/ /70%/
-67
1968/ /14%/ /75.25%/ /Viet Nam War
1969/ /14%/ /77%/
1970/ /14%/ /71.75%/ /Nixon ‘69-74
1971/ /14%/ /70%/ /Carter ‘77-81
-81 /14% /70%/ /74 & 79 oil crises
1982/ /12%/ /50%/ /Reagan ’81-9
-86
1987/ /11%/ /38.50%/
1988/ /15%/ /28%/ /1st Gulf War
-90
1991/ /15%/ /31%/ /Bush #1 ’89-93
-92
1993/ /15%/ /39.60%/ /Clinton ’93-01
-2000
2001/ /15%/ /39.10%/ /9-11
2002/ /10%/ /38.60%/ /Bush #2 ’02-08
2003/ /10%/ /35%/
-09