TIL that the line "There's one for you, nineteen for me" in the Beatles song "Taxman" was not an exaggeration - at the time, the highest UK tax rate was 95%.

15 points · 3 comments · view on lemmy.world

3 Comments

SYLOH@lemmy.world · 3 pts · 3y (2 replies)

In 1963 it was 91% in the USA LBJ dropped it to ~70%

DizzyMotion@lemmy.world · 3 pts · 3y (1 reply)

I'm clearly ignorant of history. Why was it so high in the 60s?

Taxes went up around 1940, and just didn't go down.