Top Marginal Tax Rate
37.0%
· Jan 2018
econ
scout
1948-49 Recession · Nov 1948 – Oct 1949
1953-54 Recession · Jul 1953 – May 1954
1957-58 Recession · Aug 1957 – Apr 1958
1960-61 Recession · Apr 1960 – Feb 1961
1969-70 Recession · Dec 1969 – Nov 1970
1973-75 Recession · Nov 1973 – Mar 1975
1980 Recession · Jan 1980 – Jul 1980
1981-82 Recession · Jul 1981 – Nov 1982
1990-91 Recession · Jul 1990 – Mar 1991
2001 Recession · Mar 2001 – Nov 2001
Global Financial Crisis · Dec 2007 – Jun 2009
20%
40%
60%
80%
1920
1940
1960
1980
2000
37.0%
Top Marginal Tax Rate — one value per year; US recessions are shaded on the chart.
Year
Top Marginal Tax Rate
1913
7.0%
1914
7.0%
1915
7.0%
1916
15.0%
1917
67.0%
1918
77.0%
1919
73.0%
1920
73.0%
1921
73.0%
1922
58.0%
1923
43.5%
1924
46.0%
1925
25.0%
1926
25.0%
1927
25.0%
1928
25.0%
1929
24.0%
1930
25.0%
1931
25.0%
1932
63.0%
1933
63.0%
1934
63.0%
1935
63.0%
1936
79.0%
1937
79.0%
1938
79.0%
1939
79.0%
1940
81.1%
1941
81.0%
1942
88.0%
1943
88.0%
1944
94.0%
1945
94.0%
1946
86.5%
1947
86.5%
1948
82.1%
1949
82.1%
1950
84.4%
1951
91.0%
1952
92.0%
1953
92.0%
1954
91.0%
1955
91.0%
1956
91.0%
1957
91.0%
1958
91.0%
1959
91.0%
1960
91.0%
1961
91.0%
1962
91.0%
1963
91.0%
1964
77.0%
1965
70.0%
1966
70.0%
1967
70.0%
1968
75.3%
1969
77.0%
1970
71.8%
1971
70.0%
1972
70.0%
1973
70.0%
1974
70.0%
1975
70.0%
1976
70.0%
1977
70.0%
1978
70.0%
1979
70.0%
1980
70.0%
1981
69.1%
1982
50.0%
1983
50.0%
1984
50.0%
1985
50.0%
1986
50.0%
1987
38.5%
1988
28.0%
1989
28.0%
1990
28.0%
1991
31.0%
1992
31.0%
1993
39.6%
1994
39.6%
1995
39.6%
1996
39.6%
1997
39.6%
1998
39.6%
1999
39.6%
2000
39.6%
2001
39.1%
2002
38.6%
2003
35.0%
2004
35.0%
2005
35.0%
2006
35.0%
2007
35.0%
2008
35.0%
2009
35.0%
2010
35.0%
2011
35.0%
2012
35.0%
2013
39.6%
2014
39.6%
2015
39.6%
2016
39.6%
2017
39.6%
2018
37.0%
Source: FRED · IITTRHB · econscout.com