It wasn't that long ago:
[T]he most successful repugican of the 20th century, Dwight D. Eisenhower, had been quite happy with a top income tax rate on millionaires of 91 percent. As he wrote to his brother Edgar Eisenhower
in a personal letter on November 8, 1954:
[T]o attain
any success it is quite clear that the Federal government cannot avoid
or escape responsibilities which the mass of the people firmly believe
should be undertaken by it. The political processes of our country are
such that if a rule of reason is not applied in this effort, we will
lose everything–even to a possible and drastic change in the
Constitution. This is what I mean by my constant insistence upon
‘moderation’ in government. Should any political party attempt to
abolish social security, unemployment insurance, and eliminate labor
laws and farm programs, you would not hear of that party again in our
political history. There is a tiny splinter group, of course, that
believes you can do these things. Among them are H. L. Hunt [you
possibly know his background], a few other Texas oil millionaires, and
an occasional politician or business man from other areas. Their number
is negligible and they are stupid.
That was a marginal tax rate, of course, but still worth noting.
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