Eisenhower's Salary Cap

In the 1950s, Local income taxes were 3%; State income taxes 6%; and any excess of income over $400,000/yr was taxed by the Federal government at 91%. 3+6+91=100. Eisenhower put a 100% tax on all income over $400,000/yr, which is effectively a salary cap. And it affects ALL Americans - not just the rich.

So if a fry cook made over $400,000 in taxable income, the excess over 400k would be GONE. Sorry!

Same goes for the unemployed single mom. Same goes for the Wall Street fat cat. Same goes for the weapons manufacturer. Same goes for the student who just won the lottery. This was shared sacrifice that the politicians talk about so much today. No one in the 1950s took home over $400,000/yr: shared sacrifice!!!

A 1950s Washington DC barbecue conversation, in America's current political and media climate

Here's a conversation you did NOT hear in the 1950s at a DC Barbecue:

Post-war greedy fuck #1: The government is reaming me with these taxes, fukkin Eisenhower!

Post-war greedy fuck #2: How much did YOU pay?

Post-war greedy fuck #1: Almost $9 million dollars! I kept my war-time $10 million/year salary and now at 90% for anything over $400,000, I only take home about $1.1 million. Fucking poor and all their handouts!

Post-war greedy fuck #2: I'm in the same boat, pulling down $5 million, I only take home $600,000.

Post-war greedy fuck #1: Some say that we could just leave all that extra tax money in the company, to hire our neighbors who are out of work, but I need that new Limo with the air conditioning and the bar.

Post-war greedy fuck #2: Yeah. "Let *me* pay those taxes for you - just hire me - you're throwing that money down the drain, giving it to the government," is what I hear people say. Fuck them! - I am the employer - they ever heard of a poor man hiring someone?