Reply #23: No, that's taking all income at the top rate...

[JHB]

Income of $60k was equivalent to about $9k in 1966 (according to online inflation calculators).

Someone making 9k in 66 would pay portions over 6 tax brackets ranging from 14% to 22% (and with standard deductions would likely top out at the 19% bracket).

There were about 2 dozen brackets back then. A teacher wouldn't see all that much difference, but someone making 10x as much would definitely be facing a higher tax bill, or taking steps to shelter their money.