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Mar 23, 2015 · Feature; March 23, 2015; 1865–1875: When Corporations Became America’s Aristocracy 1865–1875: When Corporations Became America’s Aristocracy
Congress enacted an income tax in October 1913 as part of the Revenue Act of 1913, levying a 1% tax on net personal incomes above $3,000, with a 6% surtax on incomes above $500,000. By 1918, the top rate of the income tax was increased to 77% (on income over $1,000,000, equivalent of $16,717,815 in 2018 dollars [24]).
Apr 28, 2021 · When the Great Depression hit its lowest ebb in 1933, the unemployment rate exceeded 20 percent and America’s gross domestic product plummeted by 30 percent. Not everyone, however, lost money ...
Jun 1, 2022 · In 1820, some 94 percent of humans lived on less than $2 a day. Over the next two centuries, extreme poverty fell dramatically; in 2018, the World Bank estimated that 8.6 percent of people lived ...
- Dylan Matthews
Jun 21, 2021 · Between 2014 and 2018, he paid a total $455 million on declared income of $1.52 billion – or about 30%. But considering that Mr. Musk’s wealth grew an estimated $13.9 billion during that time ...
- Laurent Belsie
Feb 5, 2018 · According a recent CNN analysis of Federal Reserve data, as of the end of 2017, the top 1% of Americans held 38.6% of the nation’s wealth. But that doesn’t mean that today’s wealth gap is ...
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Apr 10, 2014 · 8) Wealth is much more unequal than income. You hear a lot about income inequality, but as this chart makes clear wealth inequality is much more severe. In the United States, just 1 percent of the ...
