Figure 14.1.

Top income tax rates, 1900-2013

100%

90%
Marginal tax rate applying to the highest incomes

80%

70%

60%

50%

U.S.
40%

U.K.
30%

Germany
20%

France
10%

0%
1900 1910 1920 1930 1940 1950 1960 1970 1980 1990 2000 2010
The top marginal tax rate of the income tax (applying to the highest incomes) in the U.S. dropped from 70% in 1980
to 28% in 1988. Sources and series: see piketty.pse.ens.fr/capital21c.