New Deal Revenue Act of 1935 imposed an income tax of 79% on incomes over $5 million. This tax rate affected about how many US taxpayers at that time?

In 1935, Roosevelt called for a tax program called the Wealth Tax Act (Revenue Act of 1935) to redistribute wealth. (Other people called it "Soak the Rich Tax".)

In that year, Franklin D. Roosevelt proposed raising the annual tax rate for individuals earning over $50,000 a year. The bill imposed an income tax of 79% on incomes over $5 million. As to the overall budget, the rich, according to the editors of the Saturday Evening Post, couldn’t provide the revenues needed; they simply didn’t have enough money. The Revenue Act that was finally approved raised the top tax bracket from 63% to 79% for any American making over $5 million a year. The highest tax rate was designed for just one person: John D. Rockefeller.

It is said by some sources that when Rockefeller threatened to reduce his support for the various programs he financially supported, many concessions were made...