When I started my career as a CPA in 1977, the top Federal tax rate was 70%. It kicked-in at $203,200 (MFJ). The National debt was $699 billion and about 33% of GDP.
In 1986, it was 50% kicking in at $175,200.
In 1995, it was 39.6$ starting at $256,000
In 2005, it was 35% starting at $326,450
In 2015, it was 39.6& starting at $464,851
Today it is 37% starting at $731,200. Today the National Debt is $33 trillion, and it's 121% of GDP.
After careful consideration, I'd have to say that our tax system isn't working.
How do current federal individual income tax rates and brackets compare historically?
taxfoundation.org