And tax receipts were 19.2% of GDP. (Tax receipts were higher at a 50% top rate than any time during the post-WWII era of 80% and 90% tax rates.) The top rate was cut to 38.5% in 1987 then 28% in 1988, and tax receipts were 18.4% and 18.2% of GDP.
FORBES: Tax Rates and the Great Fairness Debate