This is why we need to tax the wealthy

[jc456]

Trickle down means don't tax the rich

When? Name a tax plan that did not tax the rich

 

[Jarlaxle]

What you philistines and stepaniak the cretin started with, and your first post, was bs. Lol.

Is "philistine" the current page on your word of the day calendar?

Golfing Gator …this dude claims to be a Veteran….is this what your military often turns out?

Hey...there are plenty of kooks. (We have a couple on this site.) Bowe Bergdhal, Tim McVeigh, and Nadal Hassan are veterans.

 

[jc456]

Reagan took the top tax rate from 70% to 28%,, dupe

Nope. You lie. Why?

The first tax cut (Economic Recovery Tax Act of 1981) among other things, cut the highest personal income tax rate from 70% to 50% and the lowest from 14% to 11% and decreased the highest capital gains tax rate from 28% to 20%

 

[bripat9643]

Reagan took the top tax rate from 70% to 28%,, dupe

So the rich were still getting taxed after Reagan. In fact they paid more total taxes even though their rates were lower

 

[Papageorgio]

Reagan took the top tax rate from 70% to 28%,, dupe

So Reagan did tax the rich, just not at a rate you liked. that’s fair.

 

[jc456]

So the rich were still getting taxed after Reagan. In fact they paid more total taxes even though their rates were lower

He was wrong though, he said 70 to 28, when it was 70 to 50 and every bracket went down. Completely falsely made

 

[TruthNotBS]

It’s false

Why do you believe it's false? What's false about it?

 

[TruthNotBS]

I never put on ignore anyone who supplies daily doses of laughs.

You laugh in foolish ignorance.

 

[Papageorgio]

You laugh in foolish ignorance.

Yes I do, at your foolish ignorance. Thanks for the laughs, I really appreciate you.

 

[TruthNotBS]

Reagan took the top tax rate from 70% to 28%,, dupe

No one ever paid the actual highest marginal tax rate, but rather maybe 50%-60% of it due to legal loopholes like tax credits, tax deductions, rebates..etc. So if the highest tax rate is 28%, they're paying at best 15% or less. I believe the highest marginal tax rate should be at a higher income bracket than it is now. It should be for people with annual incomes in the millions not those who earn six figures.

 

[TruthNotBS]

Yes I do, at your foolish ignorance. Thanks for the laughs, I really appreciate you.

You're under a strong delusion due to your foolish ignorance. Whatever you say that is negative or insulting, returns to you fivefold. It returns to the sender.

 

[TruthNotBS]

Lefties try hard to believe that all things that made us everything we are has timed-out.
Our Constitution and founding documents
The Bible and Christianity
The moral order that made us exceptional
Our economic system (capitalism)
Our right to sovereignty
The English language
Heterosexuality
Whiteness
Likemindedness
Normality

It has all timed-out and run its course….none of it is useful in the LibTardian shithole full of purple hair degenerate begging wackos with nose rings and neck tattoos.

francoHFW
ChristianMan

The "income system" has nothing to do with Christianity. Income systems are replaced with others when technology warrants it. You've also been hoodwinked by capitalists to believe that capitalism works without government when history shows that it doesn't. When markets fail the government intervenes to avoid a major collapse in the nation's economy and social unrest.

 

[Papageorgio]

You're under a strong delusion due to your foolish ignorance. Whatever you say that is negative or insulting, returns to you fivefold. It returns to the sender.

Why thank you kind sir, to be truthful what you say doesn’t bother me, I just find it amusing and just opinions that you cut and paste, which has little thought or fact, just opinions from biased left wing nuts.

 

[TruthNotBS]

Why thank you kind sir, to be truthful what you say doesn’t bother me, I just find it amusing and just opinions that you cut and paste, which has little thought or fact, just opinions from biased left wing nuts.

That's all you can do, claim that I'm wrong without actually presenting arguments that refute my position. You're just full of hot air.

 

[Papageorgio]

No one ever paid the actual highest marginal tax rate, but rather maybe 50%-60% of it due to legal loopholes like tax credits, tax deductions, rebates..etc. So if the highest tax rate is 28%, they're paying at best 15% or less. I believe the highest marginal tax rate should be at a higher income bracket than it is now. It should be for people with annual incomes in the millions not those who earn six figures.

Have a link that shows no one ever paid the actual highest marginal rate? In the 80’s many tax breaks were reduce or totally eliminated.

 

[Papageorgio]

That's all you can do, claim that I'm wrong without actually presenting arguments that refute my position. You're just full of hot air.

You are full as hot air as well, you can have any position you want, not my business, but just as you have an opinion. Which I agree to disagree with you and enjoy your posts. Not sure what your issue is.

 

[pknopp]

Then why are we taking in "refugees" on the Southern border?

It's in our laws they can come.

 

[pknopp]

You claim it's capitalist, not her.

I never. I said it's what many pretend is capitalism.

 

[TruthNotBS]

Have a link that shows no one ever paid the actual highest marginal rate? In the 80’s many tax breaks were reduce or totally eliminated.

The notion that the wealthiest individuals in the 1950s and subsequent decades did not pay the actual marginal tax rates, and often paid less due to various tax strategies, is supported by several sources.

1. Effective Tax Rates vs. Marginal Tax Rates in the 1950s: Although the top marginal tax rate in the 1950s was as high as 91%, the effective tax rate that the wealthiest Americans actually paid was significantly lower. For instance, between 1950 and 1959, the top 1% of taxpayers paid an average of 42.0% of their income in federal, state, and local taxes, which is considerably lower than the marginal rate. The effective income tax rate for this group was only 16.9% in the 1950s. This discrepancy is attributed to the fact that the 91% tax bracket applied only to income over $200,000 (equivalent to about $2 million today), which affected a small number of households. Additionally, the majority of the income for households in the 91% bracket was not actually subject to that top rate. Significant tax avoidance and lower reported income due to high marginal rates also contributed to this discrepancy.
2. The Situation for the Top 0.1%: Similarly, for the top 0.1% of households, the effective income tax rates in the 1950s were around 21.0%, despite the high marginal tax rates of the era. The reasons are similar to those for the top 1%: the high marginal rates applied only to very high incomes, and significant portions of their income were not subjected to these top rates. Additionally, higher marginal rates likely encouraged tax avoidance and lower reported incomes.
3. Historical Context and Spending: It's also important to consider the historical context of taxation during this period. For example, the high tax rates in the 1950s, particularly during the Eisenhower administration, were predominantly used for Cold War and military spending rather than domestic needs. This period saw a significant portion of federal spending directed towards military efforts, with domestic spending being a smaller part of the budget. The support for higher taxation on the wealthy during this era was also influenced by global geopolitical dynamics, including fears of communism and fascism.
4. Income Taxation from 1960 to 2000: A study available on JSTOR, titled "Reported Incomes and Marginal Tax Rates, 1960-2000: Evidence and Policy Implications," provides further insights into the relationship between reported incomes and marginal tax rates over this period. This study can offer a more detailed analysis of how income reporting and tax policies evolved during these decades.

In summary, while the nominal marginal tax rates were very high for the wealthiest individuals during the 1950s and later decades, the actual effective tax rates paid by these individuals were significantly lower, primarily due to the structure of the tax brackets, tax avoidance strategies, and the specific application of the highest marginal rates to only portions of their income.

References:

• 
  Tax Foundation - Taxes on the Rich Were Not Much Higher in the 1950s:URL: Taxes on the Rich Were Not That Much Higher in the 1950s
• JSTOR - Reported Incomes and Marginal Tax Rates, 1960-2000:URL: https://www.jstor.org/stable/20061888

 

[TruthNotBS]

You are full as hot air as well, you can have any position you want, not my business, but just as you have an opinion. Which I agree to disagree with you and enjoy your posts. Not sure what your issue is.

You talk shit about me, without presenting any evidence or at least refuting my position. All you have is smack talk - hot air. I'm willing and able to debate the issue with you, but you're a pathetic punk unable to discuss my point of view which you're shitting on. All of you right-wing Republicans are the same. You're all full of hot air.