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

[Redfish]

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.

Cut Spending then we can talk tax increases.

the deficit can easily be eliminated by cutting spending, there is no need for tax increases.

 

[RealDave]

I think welfare folks should work for the money they receive from taxpayers.

Most of them work now.

 

[TroglocratsRdumb]

With a 21 trillion dollar debt it is inevitable that tax rates will rise. Trickle down economics has never worked. 70% tax rate seems over the top, but raising the top marginal rate to between 45 to 50% may be in the offing if the national debt continues to spiral out of control.

Why is it over the top? Americans were just fine with a top federal tax rate of between 70% and 94% from 1940 to 1980. The United States was a superpower without all the funding and debt problems we have today.

proud leech

 

[RealDave]

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.

Cut Spending then we can talk tax increases.

the deficit can easily be eliminated by cutting spending, there is no need for tax increases.

Yet your buddy & your party keep cutting income through unfunded tax cuts.

 

[Redfish]

A flat tax that applied to all income is the fairest kind of tax, all income, no deductions, applies to everyone. Make it 5% or 20%, but apply it equally to everyone and every penny of income. You could even have a floor below which no tax would be due in order to help low income people. But the floor should be quite low, maybe 10K/year.

I don't think our problem is how we are taxed. Any method of taxation with have its share of winners and loser. There is no such thing as "fair taxation". All taxation is unfair in some form or another.

The problem is that we spend too much money on the cost of government and therefore have to raise a ton of money, which winds up fucking everybody. Either directly or indirectly we all pay for this big bloated out of control government.

The real way to have tax reform is to stop spending so much damn money for the cost of government and to stop taxing the people so much.

Of course the welfare queens that suck off the teat of big government would hate that, wouldn't they?

The problem is that we spend too much money on the cost of government and therefore have to raise a ton of money,

Indeed, we have the military industrial complex, the homeland security industrial complex, the private prison industrial complex, the charter school industrial complex, etc..

All this is money out of the pockets of the people and into the pockets of the 1%. All this is brought to you by our corporate owned politicians.

correction: brought to you by greedy politicians owned by special interests. Corporations as an entity are not evil. some of the people running them are corrupt but the business structure of corporations is a benign concept that works.

 

[Redfish]

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.

Cut Spending then we can talk tax increases.

the deficit can easily be eliminated by cutting spending, there is no need for tax increases.

Yet your buddy & your party keep cutting income through unfunded tax cuts.

whenever tax rates have been cut and/or the tax code simplified, government revenues have increased because the GDP has increased and more people are making more money and paying more taxes.

the idea that tax cuts must be "funded" is a stupid left wing talking point with no basis in fact.

 

[LeftofLeft]

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.

Cut Spending then we can talk tax increases.

the deficit can easily be eliminated by cutting spending, there is no need for tax increases.

Yet your buddy & your party keep cutting income through unfunded tax cuts.

Cut Spending.

 

[danielpalos]

We should solve for capitalism's natural rate of unemployment with existing infrastructure and raise tax revenue by raising the minimum wage; the law of large numbers can work for us.

 

[danielpalos]

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.

Cut Spending then we can talk tax increases.

the deficit can easily be eliminated by cutting spending, there is no need for tax increases.

Yet your buddy & your party keep cutting income through unfunded tax cuts.

Cut Spending.

Tax cut economics should require automatic cuts to discretionary spending on our alleged wars on crime, drugs, and terror.

 

[AzogtheDefiler]

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.

If I make $100mil and my tax bracket is 40% I pay $40mil. How much more do you want me to pay?! Wtf!?

 

[AzogtheDefiler]

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.

Success should not be punished. Flat tax.

 

[LeftofLeft]

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.

Cut Spending then we can talk tax increases.

the deficit can easily be eliminated by cutting spending, there is no need for tax increases.

Yet your buddy & your party keep cutting income through unfunded tax cuts.

Cut Spending.

Tax cut economics should require automatic cuts to discretionary spending on our alleged wars on crime, drugs, and terror.

That’s fair. I would also add programs that are frivolous or not generating results. It doesn’t necessarily mean eliminating them but, at a minimum, a critical review.

 

[danielpalos]

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.

Success should not be punished. Flat tax.

equality is a social concept not a capital concept.

why complain about taxes when you can afford to pay more.

 

[22lcidw]

With a 21 trillion dollar debt it is inevitable that tax rates will rise. Trickle down economics has never worked. 70% tax rate seems over the top, but raising the top marginal rate to between 45 to 50% may be in the offing if the national debt continues to spiral out of control.

Why is it over the top? Americans were just fine with a top federal tax rate of between 70% and 94% from 1940 to 1980. The United States was a superpower without all the funding and debt problems we have today.

proud leech

The tax rate before Trump's tax law had the top tax rate at 39%. Progressive socialists bemoaned the rich like it was a nazi death camp. And yet never eliminated tax shelters that lowered their taxes massively. Progressives had no issue with the peons paying though. Every way that all of us gets paid needs to be looked at. And real fairness in how salaries and retiree checks are paid to citizens also at the working class level. As an example...in the poverty/poverty service scam, if you believe paying a teacher over a hundred thousand dollars a year when retired is fair then there is going to be suffering somewhere else. The poverty service scam takes a lot of money and resources away from the poverty side that has scamming also. Now to be fair there are retirees making a lot less from working in past decades. So and equitable tax system or reduction of payouts is needed. Trillions and trillions of dollars can be saved. And mot of the retirees with over paid pension benefits will not suffer.

 

[progressive hunter]

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.

Success should not be punished. Flat tax.

equality is a social concept not a capital concept.

why complain about taxes when you can afford to pay more.

how do you know what people can afford???

 

[danielpalos]

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.

Success should not be punished. Flat tax.

equality is a social concept not a capital concept.

why complain about taxes when you can afford to pay more.

how do you know what people can afford???

you can afford more than those poorer than You.

 

[AzogtheDefiler]

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.

Success should not be punished. Flat tax.

equality is a social concept not a capital concept.

why complain about taxes when you can afford to pay more.

how do you know what people can afford???

you can afford more than those poorer than You.

Idiotic statement. I may make more but have six kids so I need to make more than someone who has two kids. Honestly get an education prior to opining.

 

[progressive hunter]

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.

Success should not be punished. Flat tax.

equality is a social concept not a capital concept.

why complain about taxes when you can afford to pay more.

how do you know what people can afford???

you can afford more than those poorer than You.

THEY ARENT MY PROBLEM, JUST LIKE i AM NOT THEIRS

 

[Wry Catcher]

I think welfare folks should work for the money they receive from taxpayers.

I know you don't have a clue on the issue of "welfare". So you don't appear to be stupid, you might want to look up AFDC and TANF. Then you might have a clue and not appear so ignorant.

 

[danielpalos]

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.

Success should not be punished. Flat tax.

equality is a social concept not a capital concept.

why complain about taxes when you can afford to pay more.

how do you know what people can afford???

you can afford more than those poorer than You.

Idiotic statement. I may make more but have six kids so I need to make more than someone who has two kids. Honestly get an education prior to opining.

you are the one quibbling. those poorer than you can afford even less.