To put this in context, a 70% rate on the top marginal income tax bracket is not unprecedented, or even high by historical standards [1]:
> Sanders said income tax rates under Eisenhower were as high as 90 percent.
> A look through the records shows that top earners in the eight years of Eisenhower’s presidency paid a top income tax rate of 91 percent. It was even a bit higher before he took office.
> Sanders said income tax rates under Eisenhower were as high as 90 percent.
> A look through the records shows that top earners in the eight years of Eisenhower’s presidency paid a top income tax rate of 91 percent. It was even a bit higher before he took office.
> We rate Sanders’ statement True.
[1] https://www.politifact.com/truth-o-meter/statements/2015/nov...