How did USA survive all those decades ago when the rich had super high tax rates?

How did USA survive all those decades ago when the rich had super high tax rates? like 70% or even 90% top marginal income tax rates, estate taxes, where corporations paid higher taxes.....and where there was strong regulations in place to control banks and wall street from spinning out of control and taking our... show more How did USA survive all those decades ago when the rich had super high tax rates?
like 70% or even 90% top marginal income tax rates, estate taxes, where corporations paid higher taxes.....and where there was strong regulations in place to control banks and wall street from spinning out of control and taking our country and economy down?

I mean....go back and look at the time between 1936 all the way to about 30 years ago, that top tax rate never went below 70% at all.

Our country generally speaking in the post world war 2 period all the way up tp about 30 years ago was the greatest economy ever..americans enjoyed the highest standare of living, we innovated the most, there was no challenge we could not meet.

Then things started changing...and we were promised better results from those changes, as more deregulation came about and lower taxes on business and the wealthy generally came about. But now it more looks like it was a bunch of snake oil salesmen selling us a lot of bull.

Its like we were great and they changed things...and now things are not great.

I am especially interested in knowing what Repblicans think of this as well as Democrats.
Update: Partial History of U.S. Federal Marginal Income Tax Rates Since 1913 Applicable Year Income brackets First bracket Top bracket Source 1913-1915 - 1% 7% IRS 1916 - 2% 15% IRS 1917 - 2% 67% IRS 1918 - 6% 73% IRS 1919-1920 - 4% 73% IRS 1921 - 4% 73% IRS 1922 - 4% 56% IRS 1923 - 3% 56% IRS... show more Partial History of
U.S. Federal Marginal Income Tax Rates
Since 1913
Applicable
Year Income
brackets First
bracket Top
bracket Source
1913-1915 - 1% 7% IRS
1916 - 2% 15% IRS
1917 - 2% 67% IRS
1918 - 6% 73% IRS
1919-1920 - 4% 73% IRS
1921 - 4% 73% IRS
1922 - 4% 56% IRS
1923 - 3% 56% IRS
1924 - 1.5% 46% IRS
1925-1928 - 1.5% 25% IRS
1929 - 0.375% 24% IRS
1930-1931 - 1.125% 25% IRS
1932-1933 - 4% 63% IRS
1934-1935 - 4% 63% IRS
1936-1939 - 4% 79% IRS
1940 - 4.4% 81.1% IRS
1941 - 10% 81% IRS
Update 2: 1942-1943 - 19% 88% IRS 1944-1945 - 23% 94% IRS 1946-1947 - 19% 86.45% IRS 1948-1949 - 16.6% 82.13% IRS 1950 - 17.4% 84.36% IRS 1951 - 20.4% 91% IRS 1952-1953 - 22.2% 92% IRS 1954-1963 - 20% 91% IRS 1964 - 16% 77% IRS 1965-1967 - 14% 70% IRS 1968 - 14% 75.25% IRS 1969 - 14% 77% IRS 1970 -... show more 1942-1943 - 19% 88% IRS
1944-1945 - 23% 94% IRS
1946-1947 - 19% 86.45% IRS
1948-1949 - 16.6% 82.13% IRS
1950 - 17.4% 84.36% IRS
1951 - 20.4% 91% IRS
1952-1953 - 22.2% 92% IRS
1954-1963 - 20% 91% IRS
1964 - 16% 77% IRS
1965-1967 - 14% 70% IRS
1968 - 14% 75.25% IRS
1969 - 14% 77% IRS
1970 - 14% 71.75% IRS
1971-1981 15 brackets 14% 70% IRS
1982-1986 12 brackets 12% 50% IRS
1987 5 brackets 11% 33% IRS
1988-1990 3 brackets 15% 28% IRS
1991-1992 3 brackets 15% 31% IRS
1993-2000 5 brackets 15% 39.6% IRS
2001 5 brackets 15% 39.1% IRS
2002 6 brackets 10% 38.6% IRS
2003-2009 6 brackets 10% 35%
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