Should the United States go back to a top federal tax rate of 70%?

[TroglocratsRdumb]

I don't think you understand the term communist. Do you consider the United States of the 1950s to have been a communist country? Nope, that was the Soviet Union, our enemy. The average top federal tax rate during the 1950s was 90% in the United States. But we were still a Capitalist democracy locked in confrontation with the Communist Soviet Bloc. Elvis Presley was still rich when he was paying 90% of his income in taxes.

It's you who dosen't understand the term communist....The base premise of any income tax is that ALL of your earnings belong to The State first, and what you take home is what they've allowed you to keep.

Always remember the Democrat Motto: Your Paycheck is Our Paycheck

 

[Oddball]

Your living in a fantasy land if you think the United States would be able to survive with the spending levels pre-1913 or that those pre-1913 revenue generating methods would be enough to fund much of anything.

Good.

How much money do you think the federal government needs per year right now?

.About 5%-10% of its current budget.

 

[Rustic]

how is it moral for any government to confiscate 70% of your INCOME? Remember, income is not even "profit."

Well, where does your income come from? If you are a U.S. citizen living in the United States, it comes from the U.S. MARKET. Your income is based essentially on your market value. How much your house is worth is based on the MARKET. You were lucky to be born into the United States and its market. You are lucky to be able to take advantage of that market. The U.S. market was built long before you were born. It was protected, built, and grown by generations that came before you. In order for that market to continue, it needs a stable government that is able to protect it and maintain order. The government needs revenue to do that and the only way it can get that revenue is through taxes.

You’re saying the federal government is not corrupt?
We are basically allowing the inmates to run the Asylum... Career politicians/deep state people are not the cream of the crop by any means... in fact opposite is true

 

[U2Edge]

I don't think you understand the term communist. Do you consider the United States of the 1950s to have been a communist country? Nope, that was the Soviet Union, our enemy. The average top federal tax rate during the 1950s was 90% in the United States. But we were still a Capitalist democracy locked in confrontation with the Communist Soviet Bloc. Elvis Presley was still rich when he was paying 90% of his income in taxes.

It's you who dosen't understand the term communist....The base premise of any income tax is that ALL of your earnings belong to The State first, and what you take home is what they've allowed you to keep.

Communism is an economic system where there is no private ownership of anything. That's not what the United States was from 1945 to 1980 when the top federal tax rate was never below 70%.

You're not really that quick on the uptake, are ya?

With the income tax, who is it that is telling you how much they will take and how much you will get to keep?...Hint: it's not you, tovarich.

In a democracy, the citizen votes for elected representatives whom they want to implement the policies they desire. So in a sense it is YOU who decides. We elect are leaders in this democracy who decide on the tax rates. We can also vote them out of office if they don't do what we want. The United States has always been and still is, a democracy.

No son, it's a Republic.

You claim to be a republican? Smells like fake news to me son. I don't know a single Republican who supports socialist/communist financial policies like this and I know a shit-ton of Republican's...

I'm a Republican makes I support a strong military, national defense, as well as defending U.S. national interest abroad. You know, the Republicanism of Ronald Reagan, George H.W. Bush, George W. Bush, and John McCain.

Having a top federal tax rate of 70% on the rich is NOT socialism or Communism.

Do you think the United States was a communist state from 1945 to 1980?

 

[Lesh]

You're not really that quick on the uptake, are ya?

With the income tax, who is it that is telling you how much they will take and how much you will get to keep?...Hint: it's not you, tovarich.

Said in a response to a communism claim

The whole concept is obviously way over your head...Just STFU.

Sure. Life must be great when you have the memory of a goldfish

 

[Oddball]

I'm a Republican makes I support a strong military, national defense, as well as defending U.S. national interest abroad. You know, the Republicanism of Ronald Reagan, George H.W. Bush, George W. Bush, and John McCain.

Having a top federal tax rate of 70% on the rich is NOT socialism or Communism.

Do you think the United States was a communist state from 1945 to 1980?

You're as much a "republican" as was Lincoln Chafee.

 

[Oddball]

You're not really that quick on the uptake, are ya?

With the income tax, who is it that is telling you how much they will take and how much you will get to keep?...Hint: it's not you, tovarich.

Said in a response to a communism claim

The whole concept is obviously way over your head...Just STFU.

Sure. Life must be great when you have the memory of a goldfish

Go play with your crayons, child.

 

[Rustic]

It's you who dosen't understand the term communist....The base premise of any income tax is that ALL of your earnings belong to The State first, and what you take home is what they've allowed you to keep.

Communism is an economic system where there is no private ownership of anything. That's not what the United States was from 1945 to 1980 when the top federal tax rate was never below 70%.

You're not really that quick on the uptake, are ya?

With the income tax, who is it that is telling you how much they will take and how much you will get to keep?...Hint: it's not you, tovarich.

In a democracy, the citizen votes for elected representatives whom they want to implement the policies they desire. So in a sense it is YOU who decides. We elect are leaders in this democracy who decide on the tax rates. We can also vote them out of office if they don't do what we want. The United States has always been and still is, a democracy.

No son, it's a Republic.

You claim to be a republican? Smells like fake news to me son. I don't know a single Republican who supports socialist/communist financial policies like this and I know a shit-ton of Republican's...

I'm a Republican makes I support a strong military, national defense, as well as defending U.S. national interest abroad. You know, the Republicanism of Ronald Reagan, George H.W. Bush, George W. Bush, and John McCain.

Having a top federal tax rate of 70% on the rich is NOT socialism or Communism.

Do you think the United States was a communist state from 1945 to 1980?

Socialism is and always will be a failure no matter how much lipstick you try to put on it

 

[task0778]

Why do liberals look at Venezuela and see success?

I'm a Republican by the way. I look at the United States from 1945 to 1980 when the top federal tax rate was never below 70% and I see success!

That's because from 1945 to 1980 almost nobody paid the top rate. AND, for much of that time period the US was the only economic game in town, the rest of the world was in shambles coming out of WWII. Look at Britain, Sweden, France, and ANY other country that raised their top marginal tax rate to 70% or higher since 1970, you know what their top income earners did? They left their homeland for somewhere else where the tax burden wasn't so ridiculously high. Democrats always say, if we raise the top rate by 30% then we'll get 30% more revenue from the top earners, BUT the truth is the EVERY TIME they do that it NEVER actually happens. EVERY TIME. Why? Because drastic changes in tax rates ALWAYS results in behavioral changes in rich investors. Such as sell out, pack up, and leave for other places that are more business friendly. And that means less investments, both foreign coming in and domestic, and that means less economic growth. And that means fewer jobs and lower wages.

Class dismissed.

 

[Fort Fun Indiana]

That's because from 1945 to 1980 almost nobody paid the top rate.

And they do now?

 

[U2Edge]

how is it moral for any government to confiscate 70% of your INCOME? Remember, income is not even "profit."

Well, where does your income come from? If you are a U.S. citizen living in the United States, it comes from the U.S. MARKET. Your income is based essentially on your market value. How much your house is worth is based on the MARKET. You were lucky to be born into the United States and its market. You are lucky to be able to take advantage of that market. The U.S. market was built long before you were born. It was protected, built, and grown by generations that came before you. In order for that market to continue, it needs a stable government that is able to protect it and maintain order. The government needs revenue to do that and the only way it can get that revenue is through taxes.

You’re saying the federal government is not corrupt?
We are basically allowing the inmates to run the Asylum... Career politicians/deep state people are not the cream of the crop by any means... in fact opposite is true

You'll find less corruption and crime among the Federal government than you will among individual members of society. Most people who work for the federal government value and believe in law and order. A higher percentage of private citizens try to get around the law and break it, than those who are working in office to preserve it.

 

[Lesh]

You’re saying the federal government is not corrupt?
We are basically allowing the inmates to run the Asylum

It is a hell of a lot MORE corrupt now than it was two years ago. Or have you missed all the resignations in disgrace.

Yes..the inmates ARE running the asylum as evidenced by that insane press conference just yesterday

 

[Rustic]

Why do liberals look at Venezuela and see success?

I'm a Republican by the way. I look at the United States from 1945 to 1980 when the top federal tax rate was never below 70% and I see success!

That's because from 1945 to 1980 almost nobody paid the top rate. AND, for much of that time period the US was the only economic game in town, the rest of the world was in shambles coming out of WWII. Look at Britain, Sweden, France, and ANY other country that raised their top marginal tax rate to 70% or higher since 1970, you know what their top income earners did? They left their homeland for somewhere else where the tax burden wasn't so ridiculously high. Democrats always say, if we raise the top rate by 30% then we'll get 30% more revenue from the top earners, BUT the truth is the EVERY TIME they do that it NEVER actually happens. EVERY TIME. Why? Because drastic changes in tax rates ALWAYS results in behavioral changes in rich investors. Such as sell out, pack up, and leave for other places that are more business friendly. And that means less investments, both foreign coming in and domestic, and that means less economic growth. And that means fewer jobs and lower wages.

Class dismissed.

Yep, tax money stays in DC....
The deep state makes sure of that

 

[Fort Fun Indiana]

Such as sell out, pack up, and leave for other places that are more business friendly.

Wow! How did we survive before 1980, with no rich people or businesses?!?!

 

[Slyhunter]

Should the United States go back to a top federal tax rate of 70%?

I think the United States should increase the top federal tax rate from where it is now at 39% back to 70% where it was in 1980. The top tax rate in the United States from 1945 to 1980 was NEVER lower than 70%. The time period of 1945 to 1980 saw the strongest average annual GDP growth in United States history. The national debt as a percentage of GDP was at 121% in 1945. But by 1980, the national debt was only 33% of GDP. During this time period, the United States fought the cold war which involved fighting in Korea and Vietnam as well as deterring the Soviet Union and Warsaw Pact.

How was the United States able to fight these wars, have large annual defense spending, pay for new social programs like Social Security, Medicare etc, while reducing the national debt relative to the country's wealth? It was able to do this by having a top tax rate on the richest Americans that was between 70% and 94% during the time period of 1945-1980. These tax rates on wealthy Americans DID NOT hurt the economy, ruin business etc. The country thrived with these tax rates.

Consumer spending is 80% of economic growth. Most consumers are not wealthy. They are lower class or middle class. Making sure their taxes are lower or balanced is important because they spend money when they get a raise, new job, tax break, etc. The rich though do not change their level of consumer spending when they get a tax cut or obtain more wealth. Their wealth is such that their level of consumer spending is not impacted by tax cuts or tax increases.

So going back to a 70% tax rate for the wealthiest Americans will provide more important revenue for the government without hurting the economy. This extra revenue can be used to balance the budget, pay down debt, increase defense spending, provide more money for education and health care.

The national debt has sky rocketed since 1980 and it has been difficult finding enough money for defense and domestic programs. The solution is a higher tax rate, 70% or more on the wealthiest Americans. It won't hurt the economy as shown by the superior economic growth from 1945 to 1980.

let's raise tax revenue by raising the minimum wage.

ok, someone has to pay that wage. And the person who pays that wage writes it off of his income taxes and pay less in taxes because he paid more in wages.

 

[Rustic]

You’re saying the federal government is not corrupt?
We are basically allowing the inmates to run the Asylum

It is a hell of a lot MORE corrupt now than it was two years ago. Or have you missed all the resignations in disgrace.

Yes..the inmates ARE running the asylum as evidenced by that insane press conference just yesterday

Yep, deep state personal are beyond corrupt.
High-level federal employees accountable to nobody… That is the deep state

 

[Oddball]

You'll find less corruption and crime among the Federal government than you will among individual members of society. Most people who work for the federal government value and believe in law and order. A higher percentage of private citizens try to get around the law and break it, than those who are working in office to preserve it.

Did y'all hear that?....The natural cross section of people who tend act criminally is suspended when they become bureaucrats!

 

[Rustic]

how is it moral for any government to confiscate 70% of your INCOME? Remember, income is not even "profit."

Well, where does your income come from? If you are a U.S. citizen living in the United States, it comes from the U.S. MARKET. Your income is based essentially on your market value. How much your house is worth is based on the MARKET. You were lucky to be born into the United States and its market. You are lucky to be able to take advantage of that market. The U.S. market was built long before you were born. It was protected, built, and grown by generations that came before you. In order for that market to continue, it needs a stable government that is able to protect it and maintain order. The government needs revenue to do that and the only way it can get that revenue is through taxes.

You’re saying the federal government is not corrupt?
We are basically allowing the inmates to run the Asylum... Career politicians/deep state people are not the cream of the crop by any means... in fact opposite is true

You'll find less corruption and crime among the Federal government than you will among individual members of society. Most people who work for the federal government value and believe in law and order. A higher percentage of private citizens try to get around the law and break it, than those who are working in office to preserve it.

Na, not really
High-level federal employees are accountable to nobody…
The deep state is all about career politicians and their corruption

 

[rightwinger]

Why do liberals look at Venezuela and see success?

Why do Conservatives look at Somalia and see success?

 

[Thinker101]

Ok, so it appears that some of you don't mind hiking tax rates to 1980 levels, where the top bracket was 70%. Going back to those rates, someone currently making $55,000/year would put them into a 68% tax bracket as opposed to the current 25%-30% bracket. Still sound like a good idea?