Dwain Northey (Gen X)

If the United States had maintained the corporate and high-income tax rates from the Eisenhower administration of the 1950s, the national debt today would likely be significantly lower—potentially by tens of trillions of dollars. During that era, the top marginal income tax rate for individuals exceeded 90%, and corporate taxes accounted for a much larger share of federal revenue—often over 30%, compared to less than 10% today.

Assuming similar economic growth and spending patterns, but with consistently higher revenue from top earners and corporations, the U.S. government would have collected trillions more in revenue over the past seven decades. According to some economic estimates, maintaining those higher tax rates could have generated an additional $30–50 trillion in revenue between 1960 and today. Even after accounting for potential behavioral and economic shifts—such as changes in investment or tax avoidance—conservative models still show a substantial reduction in the federal deficit and accumulated debt.

As of 2025, the U.S. national debt stands at over $34 trillion. If those higher tax rates had remained in place and even half of the estimated additional revenue had been used to offset borrowing, the current national debt could plausibly be closer to $15–20 trillion, or even less. This would have reduced interest payments, lowered fiscal pressures, and provided more room for public investment.

However, it’s important to note that such a scenario assumes political and economic conditions that could have supported such high rates over time, which may not have been sustainable in a modern, globalized economy. Still, the data strongly suggest that maintaining higher tax contributions from the wealthiest individuals and corporations would have dramatically altered the fiscal landscape of the United States.