Toddsterpatriot
Diamond Member
Man I get tired of dumbass users such as yourself who demand evidence but never provide your own. You come across so pathetic.Lol the official tax rate in the 50’s on the rich was 90% and the effective tax rate was double what it is now. That was a time of great economic growth. If the wealthy have a high tax rate, it forces them to invest their money into labor rather than to keep it to make a profit. Nowadays, they have so much wealth that when they get another tax cut, they just keep the money the save rather than invest it. Doesn’t it bother you that a few wealthy individuals in this country own more wealth than half of Americans combined?If they are hoarding the large majority of the nation’s income and wealth, then yeah, tax the rich. It’s the only plan that makes any sense. Close the generous tax loopholes and deductions that only rich people take advantage of.Simple. Tax the rich.
Tax the rich for gun control.
Tax the rich for college.
Tax the rich for Medicare for all.
Tax the rich for paid personal leave.
Tax the rich for making our air and water cleaner.
Tax the rich for illegals healthcare coverage.
Tax the rich for infrastructure.
Just tax the rich!
Again, that has never worked in all human history.
And if they are 'hoarding' as if you being allowed to keep what is rightfully yours is "hoarding"..... that still changes nothing. You can't stop the rich from simply leaving the country.
Remember, France tried this. Their wealth tax, backfired so badly, that thousands of people were simply leaving the country, and taking their money with them.
Venezuela tried this, and all the rich and wealthy, moved to other countries, Columbia, the US, Brazil, and other places.
Every country that has ever tried the "tax the rich" has ended up in poverty, with the rich perfectly fine to go live elsewhere.
So you can say "it only makes sense" until you destroy the country, and you will only succeed in destroying the country.
Lol the official tax rate in the 50’s on the rich was 90% and the effective tax rate was double what it is now.
Link?
If the wealthy have a high tax rate, it forces them to invest their money into labor rather than to keep it to make a profit.
If the tax rate is too high, why would they invest at all?
Doesn’t it bother you that a few wealthy individuals in this country own more wealth than half of Americans combined?
Did they steal it? Or did they make it by providing a desired good or service?
Michael Moore's film Capitalism claims richest paid top tax rate of 90 percent in the 1950s
Effective Progressive Tax Rates in the 1950s - Roosevelt Institute
Thanks for the links.
Lol the official tax rate in the 50’s on the rich was 90% and the effective tax rate was double what it is now.
Ummm…...
The data Greenberg draws on couldn’t come from a more reputable source, the Distributional National Accounts compiled by Thomas Piketty, Emmanuel Saez, and Gabriel Zucman. Greenberg points to their data series on effective top tax rates by income quantile. It shows that the effective tax rate for the top 1% of households (by income) was 42% in the 1950s, versus 36.4% today.
Thanks for proving you're a fucking idiot.