09/27/2026
Did you know that billionaires tax rate went from 70% to 38.5% in the 1980s? When small businesses can't afford gas, please think about why people like Elon Musk, Bill Gates, Jeff Bezos, and the other 1% want to rule our laws.
1965–1981: The top rate was 70%. It applied to the highest portion of taxable income, not to all income.
1981: The Reagan-era Economic Recovery Tax Act was enacted and began reducing rates. The top rate was still effectively 70% for part of 1981.
1982: The top rate dropped to 50%.
1987: It dropped further to 38.5%.
So, 70% → 38.5% occurred from 1981 to 1987. Only the higher bracket tax payers, aka the billionaires who actually CAN afford gas, are given the advantage of this huge reduction in taxes, at the top percentage levels. Most of us never reach these top brackets.
If you are a small business owner, I want to help you reduce your tax obligations in any way I can. Set up a consultation by calling 386-756-1208 or 386-320-6331!
