CLEP US History II

Category - Economic Development

The highest rate for personal income tax in U.S. history was:
  1. 94%
  2. 84%
  3. 74%
  4. 64%
  5. 54%
Explanation
Answer: A - In 1944 and 1945 (the final years of World War II), the highest income tax rate in U.S. history was levied: citizens earning over $200,000 were required to pay 94%. The top tax rate remained above 90% for 20 years, until 1964, when it was dropped to 77%. The top tax rate in the 21st century has been in the ballpark of 35%.
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