The share of income going to the top 1 percent has risen dramatically following drastic cuts to top tax rates: Top 1 percent share of pre-tax income and top marginal income tax rates, 1913–2014
| Year | Top marginal tax rate | Top 1 percent share of national income (pre-tax) |
|---|---|---|
| 1913 | 7.00% | 18.8% |
| 1914 | 7.00% | 19.3% |
| 1915 | 7.00% | 18.7% |
| 1916 | 15.00% | 20.6% |
| 1917 | 67.00% | 20.1% |
| 1918 | 77.00% | 19.0% |
| 1919 | 73.00% | 21.0% |
| 1920 | 73.00% | 18.4% |
| 1921 | 73.00% | 18.1% |
| 1922 | 58.00% | 17.6% |
| 1923 | 43.50% | 16.9% |
| 1924 | 46.00% | 17.6% |
| 1925 | 25.00% | 19.9% |
| 1926 | 25.00% | 21.2% |
| 1927 | 25.00% | 20.3% |
| 1928 | 25.00% | 21.4% |
| 1929 | 24.00% | 21.2% |
| 1930 | 25.00% | 18.1% |
| 1931 | 25.00% | 15.0% |
| 1932 | 63.00% | 13.9% |
| 1933 | 63.00% | 15.2% |
| 1934 | 63.00% | 17.2% |
| 1935 | 63.00% | 17.4% |
| 1936 | 79.00% | 19.2% |
| 1937 | 79.00% | 19.0% |
| 1938 | 79.00% | 17.2% |
| 1939 | 79.00% | 18.5% |
| 1940 | 81.10% | 19.3% |
| 1941 | 81.00% | 19.5% |
| 1942 | 88.00% | 18.5% |
| 1943 | 88.00% | 17.2% |
| 1944 | 94.00% | 14.8% |
| 1945 | 94.00% | 14.3% |
| 1946 | 86.45% | 14.2% |
| 1947 | 86.45% | 14.6% |
| 1948 | 82.13% | 15.8% |
| 1949 | 82.13% | 15.2% |
| 1950 | 84.36% | 15.8% |
| 1951 | 91.00% | 14.9% |
| 1952 | 92.00% | 14.2% |
| 1953 | 92.00% | 13.3% |
| 1954 | 91.00% | 13.5% |
| 1955 | 91.00% | 14.1% |
| 1956 | 91.00% | 13.4% |
| 1957 | 91.00% | 13.2% |
| 1958 | 91.00% | 12.5% |
| 1959 | 91.00% | 13.1% |
| 1960 | 91.00% | 12.6% |
| 1961 | 91.00% | 12.5% |
| 1962 | 91.00% | 12.6% |
| 1963 | 91.00% | 12.7% |
| 1964 | 77.00% | 12.9% |
| 1965 | 70.00% | 12.8% |
| 1966 | 70.00% | 12.6% |
| 1967 | 70.00% | 12.3% |
| 1968 | 75.25% | 12.2% |
| 1969 | 77.00% | 11.5% |
| 1970 | 71.75% | 11.0% |
| 1971 | 70.00% | 11.1% |
| 1972 | 70.00% | 11.1% |
| 1973 | 70.00% | 10.9% |
| 1974 | 70.00% | 10.7% |
| 1975 | 70.00% | 10.6% |
| 1976 | 70.00% | 10.5% |
| 1977 | 70.00% | 10.7% |
| 1978 | 70.00% | 10.8% |
| 1979 | 70.00% | 11.2% |
| 1980 | 70.00% | 10.7% |
| 1981 | 69.13% | 11.0% |
| 1982 | 50.00% | 11.3% |
| 1983 | 50.00% | 11.5% |
| 1984 | 50.00% | 12.5% |
| 1985 | 50.00% | 12.6% |
| 1986 | 50.00% | 12.2% |
| 1987 | 38.50% | 13.3% |
| 1988 | 28.00% | 14.9% |
| 1989 | 28.00% | 14.5% |
| 1990 | 28.00% | 14.5% |
| 1991 | 31.00% | 13.9% |
| 1992 | 31.00% | 15.0% |
| 1993 | 39.60% | 14.6% |
| 1994 | 39.60% | 14.7% |
| 1995 | 39.60% | 15.3% |
| 1996 | 39.60% | 16.0% |
| 1997 | 39.60% | 16.6% |
| 1998 | 39.60% | 16.9% |
| 1999 | 39.60% | 17.7% |
| 2000 | 39.60% | 18.3% |
| 2001 | 39.10% | 17.3% |
| 2002 | 38.60% | 17.1% |
| 2003 | 35.00% | 17.2% |
| 2004 | 35.00% | 18.3% |
| 2005 | 35.00% | 19.4% |
| 2006 | 35.00% | 20.1% |
| 2007 | 35.00% | 19.9% |
| 2008 | 35.00% | 19.5% |
| 2009 | 35.00% | 18.5% |
| 2010 | 35.00% | 19.8% |
| 2011 | 35.00% | 19.6% |
| 2012 | 35.00% | 20.8% |
| 2013 | 39.60% | 19.6% |
| 2014 | 39.60% | 20.2% |
Sources: Piketty, Saez, and Zucman 2018; TPC 2019