When did taxes start to come down?

The Week (US) - - News 11 -

Ar­gu­ing that the World War II tax regime ex­erted “too heavy a drag on growth in peace­time,” Pres­i­dent John F. Kennedy in 1963 called for slash­ing the top rate for in­di­vid­u­als from 91 per­cent to a “more rea­son­able” 65 per­cent. Kennedy’s plan met stiff re­sis­tance from con­ser­va­tive Democrats and Repub­li­cans, who wor­ried about the plan’s im­pact on the deficit. It fell to Pres­i­dent Lyn­don John­son to shep­herd a bill through Congress, with an emo­tional ap­peal to law­mak­ers after Kennedy’s as­sas­si­na­tion. The Rev­enue Act of 1964 low­ered the top in­di­vid­ual tax rate to 70 per­cent and the bot­tom rate to 14 per­cent from 20 per­cent, while re­duc­ing the cor­po­rate tax rate from 52 per­cent to 48 per­cent. It would be 17 years be­fore the next across-the­board tax cuts passed un­der Pres­i­dent Ronald Rea­gan.

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