Appreciating how expensive housing is, we still have to laugh when people complain about the high 7 percent interest rates of today. Again, we can go back to the Truman-Eisenhower eras, when tax rates were about 90 percent for the upper income earners. Today, they pay slightly more percentage-wise than you or I pay, and in the case of corporations, sometimes much less. Ohio, where I am from, has federal, state, local and R.I.T.A. (regional income tax agency).

Source: The Herald July 03, 2024 16:59 UTC