Liberal utopia. 61% tax rate

[Synthaholic]

Unbelievable. Let's see if those idiots continue to vote for democrats.

Top earning New Yorkers could face 61.2% combined tax rate under House plan, Californians may face 59% rate

The proposals include a 3% surtax on taxpayers earning more than $5 million a year. They would also raise the top marginal income tax rate to 39.6%.

www.cnbc.com

What was the tax rate during the time that you wingnuts want to get back to, the Eisenhower administration, which you thought was Peak America? I'll wait.

 

[Synthaholic]

Why don't you just take it all?

Your stupidity is matched only by your comedic value.

 

[Synthaholic]

How do you know how much someone can spend in a year?

View attachment 538875

Our country prospers on investment. Taking all the money from the productive and doling it out in malt liquor and cigarettes to "the poor" deprives the country of investment capital. No investment, no jobs, no paychecks, more poor.

Racist piece of shit says what?

 

[Mr Natural]

What was the tax rate during the time that you wingnuts want to get back to, the Eisenhower administration, which you thought was Peak America? I'll wait.

Somewhere in the 90 percent range.

Back in the 1950s when America was great.

 

[Synthaholic]

Back in the day, when America was great (the 1950s), the top tax rates were in the 90 percent range.

Maybe we need to return to those Glory Days.

I figured someone would beat me to it.

I think the only thing we can ever count on, ever take to the bank as the absolute gospel, is that Republicans are full of shit, and habitual liars. They've never let us down on that count.

 

[Dont Taz Me Bro]

They mostly arent investing it.

And your evidence of that is where?

 

[GMCGeneral]

The problem with the Left is they don't want to address the 800 pound gorilla in the room. And that is out of control spending. We don't have a revenue problem, we have a SPENDING problem. I bet there is not one Leftist turd here who can even balance a checkbook.

 

[Rambunctious]

I don't know why dems want to raise taxes...they just print the money they think they need...the crash is looming...don't get caught in it....

 

[Winston]

In fact, they are. America has the highest rate of private investment in the world.

Do you think "the rich" just fill up huge vaults with coins and gems like Scrooge McDuck?

View attachment 538879

Anyone with money knows that Scrooge McDuck is an idiot. Money sitting around in vaults, or buried in the backyard, or stuffed into exceptionally large mattresses is money lost.

The rich, if they want to stay rich, have no choice but to invest their money where it will work for them ... and us.

I have to step in here and clear up a misperception. Savings verses investment. The reality is there is very little investment being done by the rich. There is a whole lot of saving going on. While real investment can expand the frontier curve, which benefits us all, savings does the opposite by extracting "rents" from the economy without increasing production. Now to the misperception, bonds certainly, and stocks that are not purchased in an IPO, are not "investments". They are vehicles for savings. If you go out and purchase a lawn mower and start a lawn mower business, you are investing. But if you sell "stock" in that business, the people that purchase that stock are merely saving in a certificate that they hope to sell someday for a profit. If you purchase more lawn mowers and hire more help with the funds from the stock sale, that would be investing. But when that stock is sold on an exchange, it is savings.

The biggest problem with our economy, and it has been that way for almost forty years, is rent seeking. And the wealthy, like the Koch brothers, have moved mountains to bury the well known economic concept of "rents". For instance, google "free market". You will find definitions from such sources as Investopedia that claim a "free market" is one free from government regulation. That is not Adam Smith's definition of a free market. His definition says a free market is one free from "rents". So, what are "rents"?

It is simple, in a properly functioning free market that frontier curve is expanding when companies seek to make more pie. But when companies use their resources to garnish more of the pie that is already there, well that is rent seeking. Increasing income without increasing production. The most common example of rent seeking is when companies, or individuals, donate to politicians in order to gain some type of competitive advantage that allows them to get more of the pie that is already there. But that is not the only example. Something that is quite visible where I am located is the segmentation of the grocery market. Ingle's supermarkets is based out of Asheville, NC. The owner has purchased all the properties in Asheville suitable for a grocery store. He leaves the property undeveloped. He purchases the properties to keep out the competition. The profit that he makes over and above the amount he would make if there was competition is what is called "rents". And the money he spends purchasing those properties is rent seeking.

 

[Crepitus]

But it doesn't give you the right to take it either.

They need to make a contribution to society.

 

[Crepitus]

In fact, they are. America has the highest rate of private investment in the world.

Do you think "the rich" just fill up huge vaults with coins and gems like Scrooge McDuck?

View attachment 538879

Anyone with money knows that Scrooge McDuck is an idiot. Money sitting around in vaults, or buried in the backyard, or stuffed into exceptionally large mattresses is money lost.

The rich, if they want to stay rich, have no choice but to invest their money where it will work for them ... and us.

I meant investing in real things, not the stock market.

 

[Crepitus]

That's mighty white of you.

That's odd, I'm fairly swarthy.

 

[fncceo]

I meant investing in real things, not the stock market.

The stock market is very real ... that is why stocks are referred to as equity.

When you buy a bond, you're buying debt.

 

[AzogtheDefiler]

Still about 8% too light if it's on income over $100,000,000.00.

You love to punish success.

 

[Crepitus]

You love to punish success.

Nope i love to make sure all the people who helped him get there get their share too.

 

[AzogtheDefiler]

Nope i love to make sure all the people who helped him get there get their share too.

LOL what % of that money you tax goes to them? Dummy

 

[fncceo]

Nope i love to make sure all the people who helped him get there get their share too.

If you can't chew the tribe's leather, you cannot share in the tribe's spoils.

 

[Crepitus]

And your evidence of that is where?

Winston Explains it much better than I could in post #29.

 

[Toddsterpatriot]

While real investment can expand the frontier curve, which benefits us all, savings does the opposite by extracting "rents" from the economy without increasing production.

Interest earned from lending is economic "rent"?
How is that "rent" extracted from the economy?

 

[Quasar44]

airplanemechanic
Lol
Ignoramus white leftist lol