This is a table of the top marginal tax rate faced by married couples for most of the last century in the US.
Note that these are top marginal rates only, not average effective rates. That is,
The table is limited to married couples merely to make the presentation simpler.
| Tax year | Top marginal tax rate (%) |
Top marginal tax rate (%) on earned income, if different<1> |
Taxable income over-- |
|---|---|---|---|
| 1913 | 7 | 500,000 | |
| 1914 | 7 | 500,000 | |
| 1915 | 7 | 500,000 | |
| 1916 | 15 | 2,000,000 | |
| 1917 | 67 | 2,000,000 | |
| 1918 | 77 | 1,000,000 | |
| 1919 | 73 | 1,000,000 | |
| 1920 | 73 | 1,000,000 | |
| 1921 | 73 | 1,000,000 | |
| 1922 | 58 | 200,000 | |
| 1923 | 43.5 | 200,000 | |
| 1924 | 46 | 500,000 | |
| 1925 | 25 | 100,000 | |
| 1926 | 25 | 100,000 | |
| 1927 | 25 | 100,000 | |
| 1928 | 25 | 100,000 | |
| 1929 | 24 | 100,000 | |
| 1930 | 25 | 100,000 | |
| 1931 | 25 | 100,000 | |
| 1932 | 63 | 1,000,000 | |
| 1933 | 63 | 1,000,000 | |
| 1934 | 63 | 1,000,000 | |
| 1935 | 63 | 1,000,000 | |
| 1936 | 79 | 5,000,000 | |
| 1937 | 79 | 5,000,000 | |
| 1938 | 79 | 5,000,000 | |
| 1939 | 79 | 5,000,000 | |
| 1940 | 81.1 | 5,000,000 | |
| 1941 | 81 | 5,000,000 | |
| 1942 | 88 | 200,000 | |
| 1943 | 88 | 200,000 | |
| 1944 | 94 <2> | 200,000 | |
| 1945 | 94 <2> | 200,000 | |
| 1946 | 86.45 <3> | 200,000 | |
| 1947 | 86.45 <3> | 200,000 | |
| 1948 | 82.13 <4> | 400,000 | |
| 1949 | 82.13 <4> | 400,000 | |
| 1950 | 84.36 | 400,000 | |
| 1951 | 91 <5> | 400,000 | |
| 1952 | 92 <6> | 400,000 | |
| 1953 | 92 <6> | 400,000 | |
| 1954 | 91 <7> | 400,000 | |
| 1955 | 91 <7> | 400,000 | |
| 1956 | 91 <7> | 400,000 | |
| 1957 | 91 <7> | 400,000 | |
| 1958 | 91 <7> | 400,000 | |
| 1959 | 91 <7> | 400,000 | |
| 1960 | 91 <7> | 400,000 | |
| 1961 | 91 <7> | 400,000 | |
| 1962 | 91 <7> | 400,000 | |
| 1963 | 91 <7> | 400,000 | |
| 1964 | 77 | 400,000 | |
| 1965 | 70 | 200,000 | |
| 1966 | 70 | 200,000 | |
| 1967 | 70 | 200,000 | |
| 1968 | 75.25 | 200,000 | |
| 1969 | 77 | 200,000 | |
| 1970 | 71.75 | 200,000 | |
| 1971 | 70 | 60 | 200,000 |
| 1972 | 70 | 50 | 200,000 |
| 1973 | 70 | 50 | 200,000 |
| 1974 | 70 | 50 | 200,000 |
| 1975 | 70 | 50 | 200,000 |
| 1976 | 70 | 50 | 200,000 |
| 1977 | 70 | 50 | 203,200 |
| 1978 | 70 | 50 | 203,200 |
| 1979 | 70 | 50 | 215,400 |
| 1980 | 70 | 50 | 215,400 |
| 1981 | 69.125 | 50 | 215,400 |
| 1982 | 50 | 85,600 | |
| 1983 | 50 | 109,400 | |
| 1984 | 50 | 162,400 | |
| 1985 | 50 | 169,020 | |
| 1986 | 50 | 175,250 | |
| 1987 | 38.5 | 90,000 | |
| 1988 | 28 <8> | 29,750 <8> | |
| 1989 | 28 <8> | 30,950 <8> | |
| 1990 | 28 <8> | 32,450 <8> | |
| 1991 | 31 | 82,150 | |
| 1992 | 31 | 86,500 | |
| 1993 | 39.6 | 89,150 | |
| 1994 | 39.6 | 250,000 | |
| 1995 | 39.6 | 256,500 | |
| 1996 | 39.6 | 263,750 | |
| 1997 | 39.6 | 271,050 | |
| 1998 | 39.6 | 278,450 | |
| 1999 | 39.6 | 283,150 | |
| 2000 | 39.6 | 288,350 | |
| 2001 | 39.1 | 297,350 | |
| 2002 | 38.6 | 307,050 | |
| 2003 | 35 | 311,950 |
This graph is a plot of year (first column in the table) against the corresponding
top marginal rate (second column in the table) (in blue).
Where the top marginal rate on earned income differs (1971--1981), it is
also plotted (in red).
For a more detailed discussion, see the references below. Note that
Most of the data were taken from reference [3]. Some of the footnote text was drawn and modified from reference [2].
| <1> | This figure is cited when the top marginal rate for earned income differs from that for unearned income. |
| <2> | For 1944-1945, the highest tax rate was subject to a maximum effective rate limitation equal to 90% of statutory "net income." |
| <3> | For 1946-1947, the highest rate was subject to a maximum effective rate limitation equal to 85.5% of statutory "net income." |
| <4> | For 1948-1949, the highest tax rate was subject to a maximum effective rate limitation equal to 77% of statutory "net income." |
| <5> | For 1951, the highest tax rate was subject to a maximum effective rate limitation equal to 87.2% of statutory "net income." |
| <6> | For 1952-1953, the highest tax rate was subject to a maximum effective rate limitation equal to 88% of statutory "net income." |
| <7> | For 1954-1963, the highest tax rate was subject to a maximum effective rate limitation equal to 87% of statutory "taxable income." |
| <8> | For 1988-1990, some taxpayers faced a 33% marginal tax rate in an income bracket above the one cited for the 28% rate. However, the marginal rate returned to 28% above this 33% bracket. That is, for all sufficiently high incomes, 28% was the marginal rate. |
| [1] | "2003 tax rate schedules," in Internal Revenue Service, 2003 Tax Table |
| [2] | Robert A. Wilson and David E. Jordan, "Personal exemptions and individual income tax rates, 1913-2002" (Rev. 6-02), in Internal Revenue Service, Statistics of Income Bulletin (Publication 1136), Spring 2002, pp. 216-225 |
| [3] | "Table A.--U.S. individual income tax: personal exemptions and lowest and highest bracket tax rates, and tax base for regular tax, tax years 1913-2003" (Rev. 4-2003), in Internal Revenue Service, Statistics of Income Bulletin (Publication 1136), Winter 2002-2003 |
| [4] | "Tax brackets by year," under "Tax Facts," Urban-Brookings Tax Policy Center |
Page last updated on 2004 February 15