Back then, the high rate of tax for a company was about 50%.
There was a 95% tax rate for individuals, but you only got to pay that when you were already earning a fucking obscene amount of money, which both the Stones and the Beatles were. They couldn’t spend 5% of their money if they tried.
But those were the days when a single income could put a roof over a family of four.
Then came Reagan and Thatcher.
If you want to learn more detail, I highly recommend:
https://bbs.boingboing.net/t/heather-cox-richardson
The tax changes are covered in great detail sometime in August. I have read them, but cannot pinpoint the exact post.
