The impact of taxes in retirement- many retirees underestimate the role taxes will play. In addition, given the country's rapidly aging population and terribly high debt levels, it is increasingly likely that tax rates will go up, possibly significantly, in the coming years. The IRS and the graduated income tax both came into existence in late 1913. Here is a look at the history of the highest marginal tax rates since then. Note that the high was an incredible 94% in 1944 and 1945, and that it was 70% as recently as the 1970's.
A look at today's tax rates-attractive from an historical standpoint but expiring in less than 5 years on 12/31/25.