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

[OnePercenter]

First of all, I doubt you would be getting much revenue from that 70% tax bracket, cuz most rich guys won't be paying it, just like they didn't in the 1950s and 60s. They'll be putting their money in assets or investments that aren't subject to that ridiculous rate. Those rich people in the fortune 500 that make more than $10 mil? Gone. They'll be moving to Canada or somewhere else, or at least their money will be going offshore, you can bet on that. Corp HQs won't be in the US, they'll move to Ireland or somewhere.

My question is, what are the lower tax brackets? What would the rate be for the guy making only $1 mil? $2 mil? $5 mil? Where is the breakdown?

Consider this:

. Super-wealthy families often keep their wealth in the form of investments and other assets that can be converted into taxable income on their own schedule. Jeff Bezos may be worth $160 billion, but in 2017 he reportedly paid himself an annual salary of just $81,840, with total compensation (including deductible expenses) of $1.6 million. Taxing 70 percent of all salary and wages above $10 million (or even $1 million) would not even touch the Amazon founder.

Alexandria Ocasio-Cortez’s 70 Percent Tax Cannot Finance Socialism | National Review


BTW, I'm a retiree on a fixed income south of $40k/yr, if anyone cares.

Right, and Lebron James who is due to make 35 Mil a year would take a big hit, Which would be kind of interesting in the sports world. Suddenly all those guys making the super max contracts would be just taking home the same as the run of the mill guys.

My guess is that you don't understand that all of these "super max contracts" are corporations or corporate trusts that currently PAY 1.5% of revenue under tRump.

 

[Toddsterpatriot]

First of all, I doubt you would be getting much revenue from that 70% tax bracket, cuz most rich guys won't be paying it, just like they didn't in the 1950s and 60s. They'll be putting their money in assets or investments that aren't subject to that ridiculous rate. Those rich people in the fortune 500 that make more than $10 mil? Gone. They'll be moving to Canada or somewhere else, or at least their money will be going offshore, you can bet on that. Corp HQs won't be in the US, they'll move to Ireland or somewhere.

My question is, what are the lower tax brackets? What would the rate be for the guy making only $1 mil? $2 mil? $5 mil? Where is the breakdown?

Consider this:

. Super-wealthy families often keep their wealth in the form of investments and other assets that can be converted into taxable income on their own schedule. Jeff Bezos may be worth $160 billion, but in 2017 he reportedly paid himself an annual salary of just $81,840, with total compensation (including deductible expenses) of $1.6 million. Taxing 70 percent of all salary and wages above $10 million (or even $1 million) would not even touch the Amazon founder.

Alexandria Ocasio-Cortez’s 70 Percent Tax Cannot Finance Socialism | National Review


BTW, I'm a retiree on a fixed income south of $40k/yr, if anyone cares.

Right, and Lebron James who is due to make 35 Mil a year would take a big hit, Which would be kind of interesting in the sports world. Suddenly all those guys making the super max contracts would be just taking home the same as the run of the mill guys.

My guess is that you don't understand that all of these "super max contracts" are corporations or corporate trusts that currently PAY 1.5% of revenue under tRump.

You think if Lebron's contract pays him $35 million, this year,
his actual tax paid is 1.5% of $35 million, $525,000?

You're so full of shit.

 

[OnePercenter]

Funny how $Trillions for the MIC, tax cuts for the rich or bailing out too big to jail fail banks never seem to be a problem but when it's about programs for 'ordinary' people it's suddenly unaffordable..

Foolish, uninformed statement. Not surprising coming from a radical Progressive.

Specifically, who do you suggest take our place as the leader of the free world?

The tax cuts have stimulated what had been a lagging economy. Have you looked at the jobs market lately?

The rescued by the bank bailout was repaid early, with interest. Not so with the bailout of the American auto manufacturers.

Except

40% of American middle class face poverty by the time they reach age 65: Study

Working-Class Families Are Getting Hit From All Sides - Center for American Progress

Seems that the trump/Putin plan is working.

 

[Toddsterpatriot]

Addressing climate change is a national security issue, but renewable energy is also a jobs issue, a health issue and a pocketbook issue for each American family.

throw in the trash the 44 separate energy tax breaks, anchored by advantages for big oil companies that get billions of dollars in beneficial tax treatment.

What advantages do "big oil companies" get that is not available to other businesses?

We have addressed "climate change" which has been happening for billions of years. When does the rest of the world act?

What advantages do "big oil companies" get that is not available to other businesses?

Depletion allowance

How many people do big oil companies employ? How many counties do these big oil companies work in? Idiots like you, only think about you, and how much a victim of liberalism you are, because you are a miserable wretch who cant make it in the world....

How many people does big oil employ?

View attachment 239999

I'm not seeing them......List of largest employers in the United States - Wikipedia

Diversity and inclusion | ExxonMobil

Exxon-Mobil, almost 28,000 US employees.

Industries at a Glance: Oil and Gas Extraction: NAICS 211

All oil and gas producers, about 152,400 total employees.

 

[OnePercenter]

First of all, I doubt you would be getting much revenue from that 70% tax bracket, cuz most rich guys won't be paying it, just like they didn't in the 1950s and 60s. They'll be putting their money in assets or investments that aren't subject to that ridiculous rate. Those rich people in the fortune 500 that make more than $10 mil? Gone. They'll be moving to Canada or somewhere else, or at least their money will be going offshore, you can bet on that. Corp HQs won't be in the US, they'll move to Ireland or somewhere.

My question is, what are the lower tax brackets? What would the rate be for the guy making only $1 mil? $2 mil? $5 mil? Where is the breakdown?

Consider this:

. Super-wealthy families often keep their wealth in the form of investments and other assets that can be converted into taxable income on their own schedule. Jeff Bezos may be worth $160 billion, but in 2017 he reportedly paid himself an annual salary of just $81,840, with total compensation (including deductible expenses) of $1.6 million. Taxing 70 percent of all salary and wages above $10 million (or even $1 million) would not even touch the Amazon founder.

Alexandria Ocasio-Cortez’s 70 Percent Tax Cannot Finance Socialism | National Review


BTW, I'm a retiree on a fixed income south of $40k/yr, if anyone cares.

Right, and Lebron James who is due to make 35 Mil a year would take a big hit, Which would be kind of interesting in the sports world. Suddenly all those guys making the super max contracts would be just taking home the same as the run of the mill guys.

My guess is that you don't understand that all of these "super max contracts" are corporations or corporate trusts that currently PAY 1.5% of revenue under tRump.

You think if Lebron's contract pays him $35 million, this year,
his actual tax paid is 1.5% of $35 million, $525,000?

You're so full of shit.

That's what the corporation pays, Lebron pays tax on what he is paid by his corporation which tends to be walking around money.

 

[Toddsterpatriot]

First of all, I doubt you would be getting much revenue from that 70% tax bracket, cuz most rich guys won't be paying it, just like they didn't in the 1950s and 60s. They'll be putting their money in assets or investments that aren't subject to that ridiculous rate. Those rich people in the fortune 500 that make more than $10 mil? Gone. They'll be moving to Canada or somewhere else, or at least their money will be going offshore, you can bet on that. Corp HQs won't be in the US, they'll move to Ireland or somewhere.

My question is, what are the lower tax brackets? What would the rate be for the guy making only $1 mil? $2 mil? $5 mil? Where is the breakdown?

Consider this:

. Super-wealthy families often keep their wealth in the form of investments and other assets that can be converted into taxable income on their own schedule. Jeff Bezos may be worth $160 billion, but in 2017 he reportedly paid himself an annual salary of just $81,840, with total compensation (including deductible expenses) of $1.6 million. Taxing 70 percent of all salary and wages above $10 million (or even $1 million) would not even touch the Amazon founder.

Alexandria Ocasio-Cortez’s 70 Percent Tax Cannot Finance Socialism | National Review


BTW, I'm a retiree on a fixed income south of $40k/yr, if anyone cares.

Right, and Lebron James who is due to make 35 Mil a year would take a big hit, Which would be kind of interesting in the sports world. Suddenly all those guys making the super max contracts would be just taking home the same as the run of the mill guys.

My guess is that you don't understand that all of these "super max contracts" are corporations or corporate trusts that currently PAY 1.5% of revenue under tRump.

You think if Lebron's contract pays him $35 million, this year,
his actual tax paid is 1.5% of $35 million, $525,000?

You're so full of shit.

That's what the corporation pays, Lebron pays tax on what he is paid by his corporation which tends to be walking around money.

That's what the corporation pays

Prove it.

 

[OnePercenter]

Addressing climate change is a national security issue, but renewable energy is also a jobs issue, a health issue and a pocketbook issue for each American family.

throw in the trash the 44 separate energy tax breaks, anchored by advantages for big oil companies that get billions of dollars in beneficial tax treatment.

What advantages do "big oil companies" get that is not available to other businesses?

We have addressed "climate change" which has been happening for billions of years. When does the rest of the world act?

What advantages do "big oil companies" get that is not available to other businesses?

Depletion allowance

How many people do big oil companies employ? How many counties do these big oil companies work in? Idiots like you, only think about you, and how much a victim of liberalism you are, because you are a miserable wretch who cant make it in the world....

How many people does big oil employ?

View attachment 239999

I'm not seeing them......List of largest employers in the United States - Wikipedia

Diversity and inclusion | ExxonMobil

Exxon-Mobil, almost 28,000 US employees.

View attachment 240017

Industries at a Glance: Oil and Gas Extraction: NAICS 211

All oil and gas producers, about 152,400 total employees.

All oil and gas producers, about 152,400 total employees.

The entire oil industry doesn't come close to the top 25 employers.

Retail, health, and IT far outnumber the oil industry.

 

[boedicca]

First of all, I doubt you would be getting much revenue from that 70% tax bracket, cuz most rich guys won't be paying it, just like they didn't in the 1950s and 60s. They'll be putting their money in assets or investments that aren't subject to that ridiculous rate. Those rich people in the fortune 500 that make more than $10 mil? Gone. They'll be moving to Canada or somewhere else, or at least their money will be going offshore, you can bet on that. Corp HQs won't be in the US, they'll move to Ireland or somewhere.

My question is, what are the lower tax brackets? What would the rate be for the guy making only $1 mil? $2 mil? $5 mil? Where is the breakdown?

Consider this:

. Super-wealthy families often keep their wealth in the form of investments and other assets that can be converted into taxable income on their own schedule. Jeff Bezos may be worth $160 billion, but in 2017 he reportedly paid himself an annual salary of just $81,840, with total compensation (including deductible expenses) of $1.6 million. Taxing 70 percent of all salary and wages above $10 million (or even $1 million) would not even touch the Amazon founder.

Alexandria Ocasio-Cortez’s 70 Percent Tax Cannot Finance Socialism | National Review


BTW, I'm a retiree on a fixed income south of $40k/yr, if anyone cares.

Right, and Lebron James who is due to make 35 Mil a year would take a big hit, Which would be kind of interesting in the sports world. Suddenly all those guys making the super max contracts would be just taking home the same as the run of the mill guys.

My guess is that you don't understand that all of these "super max contracts" are corporations or corporate trusts that currently PAY 1.5% of revenue under tRump.

You think if Lebron's contract pays him $35 million, this year,
his actual tax paid is 1.5% of $35 million, $525,000?

You're so full of shit.

That's what the corporation pays, Lebron pays tax on what he is paid by his corporation which tends to be walking around money.

Link?

 

[OnePercenter]

First of all, I doubt you would be getting much revenue from that 70% tax bracket, cuz most rich guys won't be paying it, just like they didn't in the 1950s and 60s. They'll be putting their money in assets or investments that aren't subject to that ridiculous rate. Those rich people in the fortune 500 that make more than $10 mil? Gone. They'll be moving to Canada or somewhere else, or at least their money will be going offshore, you can bet on that. Corp HQs won't be in the US, they'll move to Ireland or somewhere.

My question is, what are the lower tax brackets? What would the rate be for the guy making only $1 mil? $2 mil? $5 mil? Where is the breakdown?

Consider this:

. Super-wealthy families often keep their wealth in the form of investments and other assets that can be converted into taxable income on their own schedule. Jeff Bezos may be worth $160 billion, but in 2017 he reportedly paid himself an annual salary of just $81,840, with total compensation (including deductible expenses) of $1.6 million. Taxing 70 percent of all salary and wages above $10 million (or even $1 million) would not even touch the Amazon founder.

Alexandria Ocasio-Cortez’s 70 Percent Tax Cannot Finance Socialism | National Review


BTW, I'm a retiree on a fixed income south of $40k/yr, if anyone cares.

Right, and Lebron James who is due to make 35 Mil a year would take a big hit, Which would be kind of interesting in the sports world. Suddenly all those guys making the super max contracts would be just taking home the same as the run of the mill guys.

My guess is that you don't understand that all of these "super max contracts" are corporations or corporate trusts that currently PAY 1.5% of revenue under tRump.

You think if Lebron's contract pays him $35 million, this year,
his actual tax paid is 1.5% of $35 million, $525,000?

You're so full of shit.

That's what the corporation pays, Lebron pays tax on what he is paid by his corporation which tends to be walking around money.

That's what the corporation pays

Prove it.

That's what all corporations pay 1.5% of revenue. Monetary liabilities are measured by corporations as a percentage of revenue.

 

[Toddsterpatriot]

What advantages do "big oil companies" get that is not available to other businesses?

We have addressed "climate change" which has been happening for billions of years. When does the rest of the world act?

What advantages do "big oil companies" get that is not available to other businesses?

Depletion allowance

How many people do big oil companies employ? How many counties do these big oil companies work in? Idiots like you, only think about you, and how much a victim of liberalism you are, because you are a miserable wretch who cant make it in the world....

How many people does big oil employ?

View attachment 239999

I'm not seeing them......List of largest employers in the United States - Wikipedia

Diversity and inclusion | ExxonMobil

Exxon-Mobil, almost 28,000 US employees.

View attachment 240017

Industries at a Glance: Oil and Gas Extraction: NAICS 211

All oil and gas producers, about 152,400 total employees.

All oil and gas producers, about 152,400 total employees.

The entire oil industry doesn't come close to the top 25 employers.

Retail, health, and IT far outnumber the oil industry.

The entire oil industry doesn't come close to the top 25 employers.

I know, their productivity has really risen over the last few years.

 

[Toddsterpatriot]

Right, and Lebron James who is due to make 35 Mil a year would take a big hit, Which would be kind of interesting in the sports world. Suddenly all those guys making the super max contracts would be just taking home the same as the run of the mill guys.

My guess is that you don't understand that all of these "super max contracts" are corporations or corporate trusts that currently PAY 1.5% of revenue under tRump.

You think if Lebron's contract pays him $35 million, this year,
his actual tax paid is 1.5% of $35 million, $525,000?

You're so full of shit.

That's what the corporation pays, Lebron pays tax on what he is paid by his corporation which tends to be walking around money.

That's what the corporation pays

Prove it.

That's what all corporations pay 1.5% of revenue. Monetary liabilities are measured by corporations as a percentage of revenue.

That's what all corporations pay 1.5% of revenue.

You're lying.
Let me know when you can prove the LeBron James corporation pays 1.5% Federal tax on his annual income.

 

[Uncensored2008]

I would like to know which members of the USMB here warm over $10 million a year.

The income above 10 million will be taxed at 70%.

Please vote in my poll.

Everyone's income would be affected commie fuck.

For one thing, the top 70% would be flowed down. Then, like Obama, Che Guevara Barbie will tout hitting the "rich" earning $200,000 a year. I'd guess at 55% or so.

You Communists hate the middle class, the bourgeoisie, more than anything in the universe. Any tax plot by you evil shits will destroy the middle.

 

[Uncensored2008]

No it would not apply to me .

What if they start taxing your food stamps, timmy?

 

[Mikeoxenormous]

Funny how $Trillions for the MIC, tax cuts for the rich or bailing out too big to jail fail banks never seem to be a problem but when it's about programs for 'ordinary' people it's suddenly unaffordable..

Foolish, uninformed statement. Not surprising coming from a radical Progressive.

Specifically, who do you suggest take our place as the leader of the free world?

The tax cuts have stimulated what had been a lagging economy. Have you looked at the jobs market lately?

The rescued by the bank bailout was repaid early, with interest. Not so with the bailout of the American auto manufacturers.

Except

40% of American middle class face poverty by the time they reach age 65: Study

Working-Class Families Are Getting Hit From All Sides - Center for American Progress

Seems that the trump/Putin plan is working.

Do you know why 40% of US citizens face poverty by the time they reach age 65, is because Unions over promise and then underpay, high taxes in certain states, and a healthcare system that is going up even after Obama promised to save them $2,500..
Of course back in the 1990's when the scare of the left was that Social Security was going to run out of money(but welfare never does, go figure) I am my good friends really starting throwing a lot of money into McDonnell Douglas stock. After it went to $300 a share and split 3 for 1, then went back up to $200 a share and split 2 for 1, it was then bought out by Boeing and those shares are up over $350 a share. You can rely on someone else to take care of you and be disappointed or you can plan your own retirement and then if something bad happens to your pension or Social Security, at least you have another source of income....That is why 40% end up in poverty at age 65..

 

[Uncensored2008]

How did Occasional Cortex's plan work in Venezuela?

Shouldn't that be Anal Occasional Cotex? (She's a rough rider..)

Nah, I like Che Guevara Barbie, it really fits the mindless twit.

 

[Thinker101]

Kinda interesting, so many seem to feel Ocasio Cortez’s tax plan will ONLY affect those making $10 million or more. Bunch of fricken suckers.

 

[OnePercenter]

First of all, I doubt you would be getting much revenue from that 70% tax bracket, cuz most rich guys won't be paying it, just like they didn't in the 1950s and 60s. They'll be putting their money in assets or investments that aren't subject to that ridiculous rate. Those rich people in the fortune 500 that make more than $10 mil? Gone. They'll be moving to Canada or somewhere else, or at least their money will be going offshore, you can bet on that. Corp HQs won't be in the US, they'll move to Ireland or somewhere.

My question is, what are the lower tax brackets? What would the rate be for the guy making only $1 mil? $2 mil? $5 mil? Where is the breakdown?

Consider this:

. Super-wealthy families often keep their wealth in the form of investments and other assets that can be converted into taxable income on their own schedule. Jeff Bezos may be worth $160 billion, but in 2017 he reportedly paid himself an annual salary of just $81,840, with total compensation (including deductible expenses) of $1.6 million. Taxing 70 percent of all salary and wages above $10 million (or even $1 million) would not even touch the Amazon founder.

Alexandria Ocasio-Cortez’s 70 Percent Tax Cannot Finance Socialism | National Review


BTW, I'm a retiree on a fixed income south of $40k/yr, if anyone cares.

Right, and Lebron James who is due to make 35 Mil a year would take a big hit, Which would be kind of interesting in the sports world. Suddenly all those guys making the super max contracts would be just taking home the same as the run of the mill guys.

My guess is that you don't understand that all of these "super max contracts" are corporations or corporate trusts that currently PAY 1.5% of revenue under tRump.

You think if Lebron's contract pays him $35 million, this year,
his actual tax paid is 1.5% of $35 million, $525,000?

You're so full of shit.

That's what the corporation pays, Lebron pays tax on what he is paid by his corporation which tends to be walking around money.

Link?

A link to common sense? Why would an individual pay much more tax when our tax code allows them to pay much less?

 

[OnePercenter]

My guess is that you don't understand that all of these "super max contracts" are corporations or corporate trusts that currently PAY 1.5% of revenue under tRump.

You think if Lebron's contract pays him $35 million, this year,
his actual tax paid is 1.5% of $35 million, $525,000?

You're so full of shit.

That's what the corporation pays, Lebron pays tax on what he is paid by his corporation which tends to be walking around money.

That's what the corporation pays

Prove it.

That's what all corporations pay 1.5% of revenue. Monetary liabilities are measured by corporations as a percentage of revenue.

That's what all corporations pay 1.5% of revenue.

You're lying.
Let me know when you can prove the LeBron James corporation pays 1.5% Federal tax on his annual income.

That's what all corporations pay under the new tRump tax plan.

 

[OnePercenter]

What advantages do "big oil companies" get that is not available to other businesses?

Depletion allowance

How many people do big oil companies employ? How many counties do these big oil companies work in? Idiots like you, only think about you, and how much a victim of liberalism you are, because you are a miserable wretch who cant make it in the world....

How many people does big oil employ?

View attachment 239999

I'm not seeing them......List of largest employers in the United States - Wikipedia

Diversity and inclusion | ExxonMobil

Exxon-Mobil, almost 28,000 US employees.

View attachment 240017

Industries at a Glance: Oil and Gas Extraction: NAICS 211

All oil and gas producers, about 152,400 total employees.

All oil and gas producers, about 152,400 total employees.

The entire oil industry doesn't come close to the top 25 employers.

Retail, health, and IT far outnumber the oil industry.

The entire oil industry doesn't come close to the top 25 employers.

I know, their productivity has really risen over the last few years.

But comparable to the top employers the oil industry has made very little gains in employment.

 

[Toddsterpatriot]

You think if Lebron's contract pays him $35 million, this year,
his actual tax paid is 1.5% of $35 million, $525,000?

You're so full of shit.

That's what the corporation pays, Lebron pays tax on what he is paid by his corporation which tends to be walking around money.

That's what the corporation pays

Prove it.

That's what all corporations pay 1.5% of revenue. Monetary liabilities are measured by corporations as a percentage of revenue.

That's what all corporations pay 1.5% of revenue.

You're lying.
Let me know when you can prove the LeBron James corporation pays 1.5% Federal tax on his annual income.

That's what all corporations pay under the new tRump tax plan.

Yes, I heard your lie the first time.