Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
Thats a pipe dream.This is scary foolish. Yeah, the top rate used to be 70%, but that was before we had Medicaid and Medicare and a fraction of the regulations that we have now, and we had hundreds of billions of dollars parked overseas precisely because of that absurd top marginal rate.
In case you haven't noticed, the economy has begun to boom under Trump and his historic tax cuts. We haven't seen this kind of growth in manufacturing jobs in decades. Just last month the economy added over 300,000 new jobs.
Americans are failing financially.
Over the past few decades, tax burden has been shifted from the upper class to the lower and middle. Whether you know it or not, class warfare began some time ago and the 99% are losing.
Maybe I will keep the Tundra for keg runs....Ewe don't think at all and just proved it again. Besides your Toyota.
Oooooo come on Aldo...you would miss me and you know it.....No I'll sell the Tundra for a scooter and a closet full of board shorts and scuba gear......Not hardly, I know a moron when I see one. Ewe are one, off to Fiji with your American Tundra!
Go on git!
Oooooo come on Aldo...you would miss me and you know it.....No I'll sell the Tundra for a scooter and a closet full of board shorts and scuba gear......Not hardly, I know a moron when I see one. Ewe are one, off to Fiji with your American Tundra!
Go on git!
Libs can't shoot any better than a skinny.....With every bullet so far!
Oh my...we need a special prosecutor....oh wait....we have one and he has proved nothing....Trump is a failure because he became rich and the President of the United States?.
You do know that wealth inequality is because you lazy ass fuckers dont get off your welfare asses and get a job. I used to be a minimum wage puke when I was 18 but got skills given to me by God and was able to go to Saudi Arabia and make a small fortune all tax free. Or you can keep being a victim of liberalism and stay poor and yes my income will increase while your stays the same.Ronald Reagan oversaw several changes to the tax code that greatly accelerated wealth inequality and inflated executive compensation. First, stock options, which are the largest portion of executive compensation, were no longer required to be expensed by the company. They don't even have to report them on their balance sheet. Say Company A gives their executive 100,000 options to buy the stock at ten bucks. If the stock is sitting at 20 bucks at the close of the fiscal year the company has a one million dollar liability. Before Reagan, they would have to report that on their balance sheet. After Reagan, they didn't.
Then there are accounting firms certifying a companies financial reports. Prior to Reagan if an accounting firm certified results that turned out to be inaccurate they could be held liable for ALL the misstatement. After Reagan, only a small portion. The end result, prior to Reagan maybe a handful of companies would restate their earnings. After Reagan, well it numbers in the hundreds.
Then there are corporate stock buybacks. Prior to Reagan they were considered artificial manipulation of the stock price and were illegal under almost all circumstances. Now, well it is Katy bar the door, and it is common practice.
The first step in slowing the continued increase in wealth inequality is to change those three things back to the way they were. The second step is to do what Reagan actually supported, tax earned and unearned income the same. The third step is to increase the marginal tax rate on the top ten percent of taxpayers. Step four is to revoke Trumps corporate tax cut and honestly, increase the corporate tax rate to somewhere around forty percent.
Increased wealth inequality, a wildly fluctuating stock market, stagnant wages, they are all signs that our low tax rates are not encouraging investing, they are encouraging speculation and rent-seeking. It is past time that we restructured the tax code to encourage real investing and eliminate rent seeking behavior.
What a total bunch of bullshit. Most people that live at or below the poverty level work, and work damn harder than I do, or you do for that matter. Sure, education is the ticket out. My six kids demonstrate that in spades. But a quality education is expensive. People living at the poverty level sometimes devote forty percent or more of their income to support one college student, and that is WITH financial aid and loans. Our system is fubared. Every year we LOSE more great minds than can ever be delivered by the "one percent". Hell, Donald Trump is a shining example of why elitism is a failure. I mean they say he avoids rainstorms because of his hair but I think it is because he is as dumb as a turkey and would drown in one.
Stupid ass.
tRump is a silver spoon kid. He started rich. He's POTUS because Putin made it that way.
Didn't see Trump's picture there anywhere.....Oh my...we need a special prosecutor....oh wait....we have one and he has proved nothing....Trump is a failure because he became rich and the President of the United States?.
You do know that wealth inequality is because you lazy ass fuckers dont get off your welfare asses and get a job. I used to be a minimum wage puke when I was 18 but got skills given to me by God and was able to go to Saudi Arabia and make a small fortune all tax free. Or you can keep being a victim of liberalism and stay poor and yes my income will increase while your stays the same.
What a total bunch of bullshit. Most people that live at or below the poverty level work, and work damn harder than I do, or you do for that matter. Sure, education is the ticket out. My six kids demonstrate that in spades. But a quality education is expensive. People living at the poverty level sometimes devote forty percent or more of their income to support one college student, and that is WITH financial aid and loans. Our system is fubared. Every year we LOSE more great minds than can ever be delivered by the "one percent". Hell, Donald Trump is a shining example of why elitism is a failure. I mean they say he avoids rainstorms because of his hair but I think it is because he is as dumb as a turkey and would drown in one.
Stupid ass.
tRump is a silver spoon kid. He started rich. He's POTUS because Putin made it that way.
Oh wait!
Unless the GOP is prepared to cut ANYTHING from the trillion dollar annual military budget... you have no pointDo you not understand that "the money" has to come from somewhere???To me, comparing them to others -- saying they are the top 1% or that they own half the country-- is totally beside the point. The point is they earned that money and taking even half of it away just like that is outrageous. Why would you continue to live or work somewhere that robs you of over half your lawful earnings like that? NO WONDER PEOPLE CHEAT ON THEIR TAXES!That's not fair to the people who are the wealthiest. 70% !!!!! Way more than half their income going to the government? That is obscene.
Really?
The top 1% own half the country. You don't think they
A. Can't afford it
B. Shouldn't have to pay something approaching equivalency for that?
I'll ask you something, Lesh. What gives us the right to take that much money away from another citizen? To me, saying "he can afford it," is a nonanswer. It seems to me that destroys any incentive to either (1) work hard to build more success or (2) to live here.
Should it come from people who can barely pay their minimum bills...or from those who the system has made wealthy beyond any reasonable way to spend that wealth?
That is the whole point, the money does NOT have to come from somewhere.
The federal government is authorized to do almost nothing.
Not even pay for a standing army.
Defense was supposed to be a citizens soldier militia organized by the states.
There certainly is not supposed to be a DEA, BATF, or Homeland Security.
We could easily get rid of half the federal government and have a vast improvement.
Some of it is more questionable, like ICC, FAA, FTA, etc., but we certainly could easily cut military spending by at least half.
Libs can't shoot any better than a skinny.....With every bullet so far!
Sorry I'm straight.....I knew you would fall for me.....Libs can't shoot any better than a skinny.....With every bullet so far!
Wish ewe would try me sweetums.
Do you think our country would be better off if nobody made over 10mil? Why do you want to punish people that are successful to support people that are a drag on our economy?
What the 70% tax would do is make sure people getting close to the 10mil mark is guarentee they would go on an extended vacation or move. Why would they continue to risk investing or work hard for 30c on the dollar.
Let the rich keep their money, they buy things that keep millions employed. How many lose their jobs if the rich don’t buy a new yacht or plane or all the other things the rich buy.
I guess progressive think the wealthy just put money in the bank and let it set there. Without the investments the wealthy make most people would be unemployed or working for the government, which is what the progressives want anyway.
Trump is a failure because he became rich and the President of the United States?.
You do know that wealth inequality is because you lazy ass fuckers dont get off your welfare asses and get a job. I used to be a minimum wage puke when I was 18 but got skills given to me by God and was able to go to Saudi Arabia and make a small fortune all tax free. Or you can keep being a victim of liberalism and stay poor and yes my income will increase while your stays the same.We had Our BEST HALF CENTURY WITH HIGH RATES.
Top US Marginal Income Tax Rates, 1913--2003 (TruthAndPolitics.org)
Historical rates (married couples, filing jointly)
Year/ Top Rate%/ Over
1913 --- 7% 500,000
1914 --- 7% 500,000
1915 --- 7% 500,000
1916 --- 15% 2,000,000
1917 --- 67% 2,000,000
1918 --- 77% 1,000,000
1919 --- 73% 1,000,000
1920 --- 73% 1,000,000
1921 --- 73% 1,000,000
1922 --- 58% 200,000
1923 --- 43.5% 200,000
1924 --- 46% 500,000
1925 --- 25% 100,000
1926 --- 25% 100,000
1927 --- 25% 100,000
1928 --- 25% 100,000
1929 --- 24% 100,000
1930 --- 25% 100,000
1931 --- 25% 100,000
1932 --- 63% 1,000,000
1933 --- 63% 1,000,000
1934 --- 63% 1,000,000
1935 --- 63% 1,000,000
1936 --- 79% 5,000,000
1937 --- 79% 5,000,000
1938 --- 79% 5,000,000
1939 --- 79% 5,000,000
1940 --- 81% 5,000,000
1941 --- 81% 5,000,000
1942 --- 88% 200,000
1943 --- 88% 200,000
1944--- 94 200,000
1945 --- 94% 200,000
1946 --- 86% 200,000
1947 --- 86% 200,000
1948 --- 82.% 400,000
1949 --- 82% 400,000
1950 --- 84.36% 400,000
1951 --- 91% 400,000
1952 --- 92% 400,000
1953 --- 92% 400,000
1954 --- 91% 400,000
1955 --- 91% 400,000
1956 --- 91% 400,000
1957 --- 91% 400,000
1958 --- 91% 400,000
1959 --- 91% 400,000
1960 --- 91% 400,000
1961 --- 91% 400,000
1962 --- 91% 400,000
1963 --- 91% 400,000
1964 --- 77% 400,000
1965 --- 70% 200,000
1966 --- 70% 200,000
1967 --- 70% 200,000
1968 --- 75.25% 200,000
1969 --- 77% 200,000
1970 --- 71.75% 200,000
1971 --- 70% 60% 200,000
1972 --- 70% 50 200,000
1973 --- 70% 50 200,000
1974 --- 70% 50 200,000
1975 ----70% 50 200,000
1976 --- 70% 50 200,000
1977 --- 70% 50 203,200
1978 --- 70% 50 203,200
1979 --- 70% 50 215,400
1980 --- 70% 50 215,400
1981 --- 69% 50 215,400
1982 --- 50% 85,600
1983 --- 50% 109,400
1984 --- 50% 162,400
1985 --- 50 % 169,020
1986 --- 50 % 175,250
1987 --- 38.5% 90,000
1988 --- 28% <8> 29,750 <8>
1989 --- 28% <8> 30,950 <8>
1990 --- 28% <8> 32,450 <8>
1991 --- 31% 82,150
1992 --- 31% 86,500
1993 --- 39.6% 89,150
1994 --- 39.6% 250,000
1995 --- 39.6% 256,500
1996 --- 39.6% 263,750
1997 --- 39.6% 271,050
1998 --- 39.6% 278,450
1999 --- 39.6% 283,150
2000 --- 39.6% 288,350
2001 --- 39.1% 297,350
2002 --- 38.6% 307,050
2003 --- 35% 311,950
`
During the 1990's, you had the best economic growth, a balanced budget, and low unemployment with a top rate of 39.6% on incomes over $250,000. But you still wage stagnant wages for the working class, and a steady erosion of the wealth of the working and middle class trickling up to the top 20% so this would indicate that the rate which provided the best balance to lift ALL Americans, not just the top 20%, were the tax rates in effect prior to the Reagan tax code changes.
Until 1980, working Americans owned 5% of the wealth of the nation. After 1980, when the promised wage boosts promised once the union movement was destroyed failed to materialize, and workers wages steadily lost buying power, workers used their savings to maintain their lifestyles, until those savings ran out, then they used their credit, and finally goverment assistance in the form of food stamps, earned income credits and other administration heavy and expensive forms of social assistance, in place of real increases in their income.
And even as wages stagnated, executive incomes soared, profits are the highest in history, and businesses have absorbed increased costs in equipment, rent, insurance, raw materials, and management salaries, they balk at paying more for their front line workers, the people who do the work which actually generates the profits. Wages, as a percentage of costs, is now back to the same levels as were last seen in the Guilded Age, the age of the Robber Barons.
https://www.history.com/news/second-gilded-age-income-inequality
Ronald Reagan oversaw several changes to the tax code that greatly accelerated wealth inequality and inflated executive compensation. First, stock options, which are the largest portion of executive compensation, were no longer required to be expensed by the company. They don't even have to report them on their balance sheet. Say Company A gives their executive 100,000 options to buy the stock at ten bucks. If the stock is sitting at 20 bucks at the close of the fiscal year the company has a one million dollar liability. Before Reagan, they would have to report that on their balance sheet. After Reagan, they didn't.
Then there are accounting firms certifying a companies financial reports. Prior to Reagan if an accounting firm certified results that turned out to be inaccurate they could be held liable for ALL the misstatement. After Reagan, only a small portion. The end result, prior to Reagan maybe a handful of companies would restate their earnings. After Reagan, well it numbers in the hundreds.
Then there are corporate stock buybacks. Prior to Reagan they were considered artificial manipulation of the stock price and were illegal under almost all circumstances. Now, well it is Katy bar the door, and it is common practice.
The first step in slowing the continued increase in wealth inequality is to change those three things back to the way they were. The second step is to do what Reagan actually supported, tax earned and unearned income the same. The third step is to increase the marginal tax rate on the top ten percent of taxpayers. Step four is to revoke Trumps corporate tax cut and honestly, increase the corporate tax rate to somewhere around forty percent.
Increased wealth inequality, a wildly fluctuating stock market, stagnant wages, they are all signs that our low tax rates are not encouraging investing, they are encouraging speculation and rent-seeking. It is past time that we restructured the tax code to encourage real investing and eliminate rent seeking behavior.
What a total bunch of bullshit. Most people that live at or below the poverty level work, and work damn harder than I do, or you do for that matter. Sure, education is the ticket out. My six kids demonstrate that in spades. But a quality education is expensive. People living at the poverty level sometimes devote forty percent or more of their income to support one college student, and that is WITH financial aid and loans. Our system is fubared. Every year we LOSE more great minds than can ever be delivered by the "one percent". Hell, Donald Trump is a shining example of why elitism is a failure. I mean they say he avoids rainstorms because of his hair but I think it is because he is as dumb as a turkey and would drown in one.
Stupid ass.
I'm sure you see the world that way....I had an teacher once that said the truly uneducated will always believe they are the smartest folks on the planet....that's what makes you and them so dangerous....You don't think, you're a tRumper thinking is beyond ewe. Go on now git!
I had an teacher once that said the truly uneducated will always believe they are the smartest folks on the planet.
That truly defines tRump supporters.
Why is Venezuela, a country which has had multiple autoritarian leaders, and has been fucked over by the IMF since the 1970's your ONLY example of a socialist democracy?
What about Norway, Canada, the Netherlands, Switzerland, Belgium, Sweden, Finland, Japan, Australia, New Zealand, and all of the other first world countries ranking ahead of the USA in health care, education, personal freedom, quality of life, personal safety and happiness? All of these countries have cradle to the grave social programs, universal health care, abortion on demand, equal rights for women, and governments which operate within their means.
What NONE of them have is the world's largest, most expensive army, and none have spent the past 18 years continuously fighting wars on foreign soil. So start by talking realistically about what is the source of your current economic problems, starting with:
STOP RUNNING DEFICITS TO PAY FOR TAX CUTS YOU SHOULD NEVER HAVE MADE.
Sounds good, which country are you moving to?
I don't have to move. I already live in one of those countries. I've retired to a lovely little resort town which has everything I need, and what it doesn't have, I can order online or go to the City to get. Here I can live independently, close to family, do a bit of travelling, and not have to worry about copays I can't afford, filling out medical paperwork and getting pre-approvals.
I can use my savings to travel, or to indulge my hobbies and my grandchildren.
Oh yeah. Weed is legal. I can go to the dispensary and buy the nicest Lemon Kush for $125 an ounce. Life is good.
Great, another foreigner. How about you just STFU and worry about whatever country you're living in.
WE don't have to worry about the country we live in. While we have problems, we have a competent, well run government, and our electorate is smart enough to get rid of the occasional idiot that gets elected. Yes, Doug Ford, we are talking about you.
In the meantime, Ford's party isn't about to let him commit political suicide, like the Republicans are doing with Trump. But smart conservatives are biding their time until he totally fucks up, which will take slightly longer than it did with his dumb ass brother, but they neither Ford brother is anything close to smart.
You have a competent, well run government that relies heavily on the U.S.
Do you think our country would be better off if nobody made over 10mil? Why do you want to punish people that are successful to support people that are a drag on our economy?
What the 70% tax would do is make sure people getting close to the 10mil mark is guarentee they would go on an extended vacation or move. Why would they continue to risk investing or work hard for 30c on the dollar.
Let the rich keep their money, they buy things that keep millions employed. How many lose their jobs if the rich don’t buy a new yacht or plane or all the other things the rich buy.
I guess progressive think the wealthy just put money in the bank and let it set there. Without the investments the wealthy make most people would be unemployed or working for the government, which is what the progressives want anyway.
Since when is putting money in a bank NOT an investment? Have you heard of interest?
Why does anyone care about a rise in the Income tax for those who earn more in a year than the vast number of our citizens will earn in a lifetime?
A true progressive income tax would not have so few tax brackets, reduced by Ryan and signed by Trump which didn't benefit the many, only the very few.
The argument - lol - that the wealthy create most of the jobs is BULLSHIT. One more lie by the elite establishment to keep more than their fair share, and supported by the Republican Party.
The Importance of Young Firms for Economic Growth
Food for thought from the LINK:
"Welcome Immigrants
"Immigrants were nearly twice as likely as native-born Americans to start businesses in 2014. The creation of a visa for immigrant entrepreneurs would allow these job creators to start companies in the United States."
'Remove Regulatory Barriers to Growth
"As regulations build up over time, they represent an increasing and disproportionate cost to entrepreneurial firms. Ideas to counter regulatory accumulation include the establishment of a commission to review and recommend regulatory changes to Congress and implementing sunset dates on major regulations." [NOT EO's by the Executive]
your ideas have been tried in Venezuela, once one of the richest nations on earth, now the people are eating their pets and zoo animals.
Unless the GOP is prepared to cut ANYTHING from the trillion dollar annual military budget... you have no pointDo you not understand that "the money" has to come from somewhere???To me, comparing them to others -- saying they are the top 1% or that they own half the country-- is totally beside the point. The point is they earned that money and taking even half of it away just like that is outrageous. Why would you continue to live or work somewhere that robs you of over half your lawful earnings like that? NO WONDER PEOPLE CHEAT ON THEIR TAXES!That's not fair to the people who are the wealthiest. 70% !!!!! Way more than half their income going to the government? That is obscene.
Really?
The top 1% own half the country. You don't think they
A. Can't afford it
B. Shouldn't have to pay something approaching equivalency for that?
I'll ask you something, Lesh. What gives us the right to take that much money away from another citizen? To me, saying "he can afford it," is a nonanswer. It seems to me that destroys any incentive to either (1) work hard to build more success or (2) to live here.
Should it come from people who can barely pay their minimum bills...or from those who the system has made wealthy beyond any reasonable way to spend that wealth?
That is the whole point, the money does NOT have to come from somewhere.
The federal government is authorized to do almost nothing.
Not even pay for a standing army.
Defense was supposed to be a citizens soldier militia organized by the states.
There certainly is not supposed to be a DEA, BATF, or Homeland Security.
We could easily get rid of half the federal government and have a vast improvement.
Some of it is more questionable, like ICC, FAA, FTA, etc., but we certainly could easily cut military spending by at least half.
Sounds good, which country are you moving to?
I don't have to move. I already live in one of those countries. I've retired to a lovely little resort town which has everything I need, and what it doesn't have, I can order online or go to the City to get. Here I can live independently, close to family, do a bit of travelling, and not have to worry about copays I can't afford, filling out medical paperwork and getting pre-approvals.
I can use my savings to travel, or to indulge my hobbies and my grandchildren.
Oh yeah. Weed is legal. I can go to the dispensary and buy the nicest Lemon Kush for $125 an ounce. Life is good.
Great, another foreigner. How about you just STFU and worry about whatever country you're living in.
WE don't have to worry about the country we live in. While we have problems, we have a competent, well run government, and our electorate is smart enough to get rid of the occasional idiot that gets elected. Yes, Doug Ford, we are talking about you.
In the meantime, Ford's party isn't about to let him commit political suicide, like the Republicans are doing with Trump. But smart conservatives are biding their time until he totally fucks up, which will take slightly longer than it did with his dumb ass brother, but they neither Ford brother is anything close to smart.
You have a competent, well run government that relies heavily on the U.S.
Wrong again. Our government relies on the US for NOTHING, and we're never disappointed. We buy a lot of stuff from you, but we do have other market sources, as I have noted since we stopped buying American in the wake of Trump's tariffs. We'll stop boycotting your products when Trump scraps the tariff on the steel produced in Canada, by companies owned by Americans.
Sorry I'm straight.....I knew you would fall for me.....Libs can't shoot any better than a skinny.....With every bullet so far!
Wish ewe would try me sweetums.
