There are a lot less loop holes than in the past. In the 1950s taxes on the rich were 90% - but there were so many loopholes the rich in reality paid a similar tax rate to their peers today where the tax rates are lower, but there are also less loopholes.
In the 1950s the common person couldn't take advantage of most loopholes (I'm not old enough to remember, but I'd guess mortgage interest was the only useful one, the rest where $100 here and there but it never added up to much for the common person)
In the 1950s the common person couldn't take advantage of most loopholes (I'm not old enough to remember, but I'd guess mortgage interest was the only useful one, the rest where $100 here and there but it never added up to much for the common person)