If your point is that our current taxes aren't that much different than back then... you need to finish the math.
If the current rate is 33% and then with everything else it's 53.3%...
and back the rate was 60% ... then with everything else it would be... much, much higher. Right?
And I just double checked. The top tax rate in 1971 was 80% over $250,000
$250,000 in 1971 dollars is over
TWO MILLION dollars in today's money.
So, no. The current tax rate is nothing close to what it used to be.
Back in the 1970s a multi-millionaire would pay over 80% taxes on money earned after their first $2 million (equivalent) and that's JUST the federal rate. Plus the provincial. Plus whatever else was happening.
The rich used to pay their fair share and now they don't.
I stand by every assertion from my previous comment.
The working class got fucked by the rich getting tax breaks.
Because now schools, hospitals, housing, crime prevention, everything is underfunded because the richest of the rich bribed politicians into cutting THEIR taxes so that us working class folks get fewer services.
Tax the rich more.
For 2026:
The Federal tax rate for income over $254,482 is 33%.
The Ontario tax rate on income over $220,00 is 13.16%., which is added to the Federal income tax.
At $254,482 the Ontario surtax has kicked, in making the total Federal and Ontario marginal tax rate 53.3%.
Not really much less than the 60% you mentioned. And $254,482 annual income, in Ontario, does not qualify as "mega-rich", imho...