Top .1% of wealth about to exceed bottom 90% :

[AZ Progressive]

4. Progressive Taxes were meant to be harsh on the Rich to make wealth distribution more equal

The top tax rate in 1917 was 67% on those making more than the equivalent of $35 million dollars in todays money. In 1919 it was 73% on those making the 2013 equivalent of $13.2 million dollars. Taxes were lowered during the 20's, obviously leading to the Great Depression. When FDR came into office, the top tax rate was put high again, at 63% for those making the 2013 equivalent of $16.7 million, raised to 79% in 1936, and in the early 40's it crept as high as 94% before coming down to 91% from 1946 to 1963. Ultimately this high top tax rate was in place until Reagan, which lowered the top tax rate to 50%, 38.5% in 1987, and then eliminated the progressive tax altogether with a 28% tax rate in 1988. Clinton reinstated it at not even as high as the Reagan years before 1987.

Why does progressive tax legislation work? It puts disincentives for the rich to hoard money, instead they pour it back into the business which includes hiring people and paying them better wages.

Progressive tax legislation, as the graph shows, worked in keeping the rich under control.