Time for the Wealthy to Pony Up

Time for the Wealthy to Pony Up

In 1970, I was 22 years old. The top tax bracket in the U.S. was 71.5% for net income over $200,000. That had been 77% in the previous year. Unions were still strong, and there were still many single wage-earner households. Almost no one had medical insurance, but medical care wasn’t expensive. I had health insurance through my work — it was an insignificant expense. Even when I started my own business and had to pay all of my medical insurance, that was never an expense that concerned me. That would not be true today!



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