All told, over the period 1932-1980, nearly half a century, the top federal income tax rate in the United States averaged 81 percent.

Thomas Piketty
All told, over the period 1932-1980, nearly half a century,...
All told, over the period 1932-1980, nearly half a century,...
All told, over the period 1932-1980, nearly half a century,...
All told, over the period 1932-1980, nearly half a century,...
About This Quote

All told, over the period 1932-1980, nearly half a century, the top federal income tax rate in the United States averaged 81 percent. This quote is from a passage in Chapter One of The Audacity of Hope by Barack Obama. In that chapter, Obama discusses his views on the taxation of the rich. According to Obama, "In a democracy, we do things by majority vote." But "the great challenge of our time is to make democracy work again," he writes. According to Obama, "there is no justification for a handful of billionaires," who control a disproportionate amount of wealth in this country.

Source: Capital In The Twentyfirst Century

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  1. All told, over the period 1932-1980, nearly half a century, the top federal income tax rate in the United States averaged 81 percent.
  2. Income from labor [in the United States] is about as unequally distributed as has ever been observed anywhere.
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