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Politics : PRESIDENT GEORGE W. BUSH
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To: Kenneth E. Phillipps who wrote (537219)2/9/2004 5:37:10 PM
From: Neocon   of 769670
 
First instituted in 1913, the income tax rate hit an all time high of 91 percent for upper income earners in 1962. John F. Kennedy, perhaps the first supply-sider to occupy the White House, brought the rate down to 70 percent arguing the high rate was stifling economic growth. That wasn't nearly far enough for Ronald Reagan, whose 1981 tax reform promised a 30 percent cut over three years. Five years later, a massive tax reform bill closed loopholes and brought the top rate down to 28 percent. Soon, loopholes were back, and George Bush raised the top rate back to 31 percent, followed by Bill Clinton who jacked the top rate to 39.6 percent in 1993 and gave Americans their current five-tier system.

cnn.com

Now, what is it precisely you are referring to? The Social Security tax hike? I am not sure of the figures on that one......
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