I was talking with some coworkers about the tax rates of 50-60-70 years ago and how the rate was up to 90 percent. One of them said this meant if you made a million dollars then the gov took 900K and you kept 100K. Is that right? I was under the impression that we all start at the same percent but once you hit certain thresholds of earnings (like 250K), THEN every dollar after would apply to the much higher rate. If anyone could clarify this for me I'd appreciate it.