martybegan
Diamond Member
- Apr 5, 2010
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I just wish Obama would stopping such a pussy and raise corporate tax rates to 50% or 70% or so.
Cuz then we'd have a lot more money 'n stuff.
.
Nah...we couldn't do that...the majority of Americans want that so it'll never happen. Besides...nobody is proposing we go all the way back to the rates of Republican President Dwight Eisenhower...Clinton rates would suffice.
Dwight D. Eisenhower
Marginal Tax Rate on Regular Income over $400,000: 92% - 91%
Maximum Tax Rate on Long-Term Capital Gains: 25%
Bill Clinton
Marginal Tax Rate on Regular Income: over $250,000: 39.6% - over $288,350: 39.6%
Maximum Tax Rate on Long-Term Capital Gains: 29.19% - 21.19%
Barack Obama
Marginal Tax Rate on Regular Income: over $372,950 - over 388,350: 35%
Maximum Tax Rate on Long-Term Capital Gains: 15%
In 1955 $400,000 was the equivalent of almost $3.5 million dollars. How many people do you think actually made that much?
It was a tax on a few hundred people, that's it. It was mostly for symbolism, not for income. It was also a legacy of WWII and the need to fund the Marshall Plan.
And we need to fund the rebuilding of our infrastructure. As well as scientific R and D.
There is enough money out there for that, the problem is excessively sized government sucks up too much of it.