In 1974, the UK's top marginal rate of tax on investments income hit 98%.
On your 75th birthday your pension assets become taxable, but only at the marginal rate of income tax.
People can now take money out of their pots as they wish, subject to their marginal rate of income tax.
At the current marginal rate of 50%, nearly half of his or her earnings will go in tax.
Including federal and state taxes, they already face a top marginal rate of 55% or so.
Those who make over $1 million will pay a marginal rate of 12.3 percent.
The top marginal rate of income tax was cut in half, to 33%.
Middle-class filers, who pay a marginal rate of 28 percent, get only 28 cents back.
A top marginal rate of income tax of over 50% is no incentive for high-flyers to move to Frankfurt.
Taxpayers can write off all of the costs (including interest payments) at their marginal rate of tax, while only paying tax on half of their capital gains.
Under the new rules the 55% rate is abolished and a saver will only pay a marginal rate of income tax on sums above the tax-free allowance.
