"This would not have happened 100 years ago when the top tax bracket was ~90%."
Not to be too pedantic, but 100 years ago was a great time to be a millionaire, the highest tax brackets were inconsequential, the tax for the top bracket of $500,000 was 7%. Rockefeller didn't have too much tax planning to worry about.
The high brackets came with the depression and later WWII.
Not to be too pedantic, but 100 years ago was a great time to be a millionaire, the highest tax brackets were inconsequential, the tax for the top bracket of $500,000 was 7%. Rockefeller didn't have too much tax planning to worry about.
The high brackets came with the depression and later WWII.