TIL that the line "There's one for you, nineteen for me" in the Beatles song "Taxman" was not an exaggeration - at the time, the highest UK tax rate was 95%. | Spyke

Syndicated from the fediverse. Read and engage on the original instance.

View original on lemmy.world

til·Today I LearnedbyL4sBot

TIL that the line "There's one for you, nineteen for me" in the Beatles song "Taxman" was not an exaggeration - at the time, the highest UK tax rate was 95%.

https://en.wikipedia.org/wiki/Taxman#Background_and_inspirationOpen link View original on lemmy.world

15

3 replies

In 1963 it was 91% in the USA LBJ dropped it to ~70%

3

DizzyMotion reply

I'm clearly ignorant of history. Why was it so high in the 60s?

3

SYLOH reply

Taxes went up around 1940, and just didn't go down.

3

TIL that the line "There's one for you, nineteen for me" in the Beatles song "Taxman" was not an exaggeration - at the time, the highest UK tax rate was 95%. | Spyke