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!!!