Right, that’s the real problem. We’re over hear bickering about income tax rates, while the wealthy are sitting there playing a shell game with : income? Find the income. Which cup is it under? If you tax the right one, you win a prize. Just like any shell game, the only way to win is to not play.
And what was the capital gains tax rate at that time? Why do wealthy people get to call their income something else and get taxed less on it?
You have to go even further back, for a time when both sources of income were taxed the same