Just think of all the gains the American people would have realized had they been able to invest their witholdings in the market instead of failing Social Security.
The Dow pushing on 17k ... The goverment showing record debt.
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The Social Security money was invested in supply side tax loopholes subsidizing the rich so far down the laffer curve that they never returned the investment. Workers were taxed to death so Mitt Romney could pay less than 13% tax & many others paid nothing at all. Everyone should pay the same tax rate regardless of income. Everyone should pay at least 19% federal tax, because that is the average spend rate over the past 50 years. Paying less means you are stealing from me & other middle income paying 39% effective tax rate.
The laffer curve max tax revenue rate is 33%. Tax rates should never be above that. But government unified the budget making payroll taxes go to fund government so they could lower the dividend tax rate. The working class paid most of the taxes in this country subsidizing so the rich & poor could pay much less. Everyone paying a combined effective tax rate above 33% deserves a tax cut.
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Overall I've payed about 55% in federal, state and local taxes when you include SS taxes. America has more than just federal taxes, thus your laffer curve does not just apply to federal tax. The feds are spending to much. Or are you saying we need to end all state and local governments or force them to subsist on 14%? Huh?
Not only did Romney pay the top tax rate on his income he then also had to pay another 13% on top of the top tax rate for interest earned on American investments that he made from his taxed income. Taxes on capital gains is double taxation. Why do you libtards have to be so disingenuous?
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