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When the top tax rate was 90% people making 40 K were in the 50% bracket be careful what you wish for,In the past, the marginal tax rate in the US reached 90%, so it is nothing new.
Just once, but applying a marginal tax rate.
Historical Income Tax Rates
Wolters Kluwer takes a historical look at the top marginal income tax rates in the United States.www.wolterskluwer.com
What I am saying is it can't cut spending, especially when the private debt is higher than public debt.
It needs to change its policies so that it has a positive monetary flow from the foreign sector.
The central bank can (in theory) write off the debt but has to do that in small steps. Most countries have policies against that , so the only solution is : become a net exporter or a net receiver of remittances or net receiver of interest payments ( any or all of them).
The money has already been taxed once, so you are saying nobody should pay a tax on money already taxed. Once the corporation or business is taxed, there is no need to tax individuals. Which is a principle of many conservative politicians.So you don't tax them multiple times. You just raise the marginal tax rate.
Except that the government cannot run anything more efficiently than a private business and if the train was private then only the people who use the train will pay for it and not people who will never use the train. And the people who will never use the train far outnumber the people who will.
How so?The money has already been taxed once, so you are saying nobody should pay a tax on money already taxed. Once the corporation or business is taxed, there is no need to tax individuals. Which is a principle of many conservative politicians.
Oh , I'm sure that's a myth. Just look at the banking system and how it collapsed in 2007... hardly a case of efficiency.
Then somehow China has been able to build thousands of kilometers of high speed railways . No private enterprise has matched that feat.
Oh , I'm sure that's a myth. Just look at the banking system and how it collapsed in 2007... hardly a case of efficiency.
Then somehow China has been able to build thousands of kilometers of high speed railways . No private enterprise has matched that feat.
Yes , sure , some projects are not efficient or badly planned. But that's hardly the overall case across all government institutions.Look at any government infrastructure project.
That the Big Dig In Boston for example.
700% over budget rife with corruption and political payoffs and tunnels that were falling apart in just a couple years that caused the death of a woman
Yes , sure , some projects are not efficient or badly planned. But that's hardly the overall case across all government institutions.
There is nothing abstract about a corporation or company.How so?
A company is an abstract entity with different activities. It is not an individual being taxed.
Of course it is abstract it is a man-made construct created four milenia ago.There is nothing abstract about a corporation or company.
You dont see it as double taxation? Or even triple taxation?
Tax all dollars earned, then tax it again, when it gets in the hands of an employee.
That is a lot of tax already, if every dollar is taxed once as a corporate tax than again when the employee gets paid, that means a dollar is taxed 50% to 68%. The higher tax is how much we would pay if the Democratic party got it's way and eliminated the Trump tax cut.
A dollar should only be taxed or have a portion took, once.
Not some all.Yes , sure , some projects are not efficient or badly planned. But that's hardly the overall case across all government institutions.
Public schools and universities seem to be running just fine, as well as most federal highways.
reason.com
Of course it is abstract it is a man-made construct created four milenia ago.
No, it is not double taxing.
The payroll tax is a tax paid by the employee and withheld by the company.
The main source of value for a fiat currency is the demand created by taxation. You can't really run a fiat currency without taxation.
yes, we all understand what a payroll tax isOf course it is abstract it is a man-made construct created four milenia ago.
No, it is not double taxing.
The payroll tax is a tax paid by the employee and withheld by the company.
The main source of value for a fiat currency is the demand created by taxation. You can't really run a fiat currency without taxation.
Not some all.
And you really think out public school system is running "fine"?
Families Are Fleeing Government-Run Schools
Brooklyn elementary loses one-third of its student population and eight teachers, as the first 2021–22 enrollment numbers straggle in.Chicago’s public schools are emptying. Politics makes it hard to fix
Segregation intensifies a problem schools face all over Americawww.economist.com
What particular statement do you find to "fly in the face of conventional macroeconomics"?Curious if you are making this up as you go or whether there is a book from which you learned all this. You have made a number of statements that fly in the face of conventional macroeconomics and the realities of our monetary and fiscal systems. What is your source?
foreign engineersConsidering public schooling is an almost universal world-wide policy , yes. Public schooling works just fine even at college level.
How do you explain China's success in building the largest high-speed railroad network in the world in spite of being a public project?
Taxation without a corresponding spending indeed reduces production. But government spending, as a general rule, is at least equal to taxation ( most of the time it is larger).yes, we all understand what a payroll tax is
demand created by taxation? Americans, and the entire world can do without demand created by taxation, or inflation, as our labor produces us less.
So why foreign engineers have not been able to do the same in the US?foreign engineers
you dont make senseTaxation without a corresponding spending indeed reduces production. But government spending, as a general rule, is at least equal to taxation ( most of the time it is larger).
