This is why we need to tax the wealthy

[Harpy Eagle]

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

He must have been in the Navy as I have no clue what he is trying to say

 

[Papageorgio]

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

Thank you for the link but it didn’t prove your point, it supported it kind of but not fully, but it works.

 

[Papageorgio]

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.

Now the Christian man is cussing and insulting as he does quite regularly, you hang on to that, Jesus would be proud of you.

 

[Natural Citizen]

This is why we need to tax the wealthy

TRILLIONS in untaxed wealth.

Thief!

 

[Billy000]

Thief!

Does this mean you don’t utilize government programs like literally everyone else?

 

[bripat9643]

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

Everything you post is false.

 

[bripat9643]

It's in our laws they can come.

No, that isn't in our laws. Biden is ignoring the laws, and you're defending his criminality.

 

[Oldestyle]

You can always ignore me, just click on my profile image and "click" ignore. That's the way to not see your arguments torn to pieces, making you feel better.

Why would you think that what you post tears my arguments to pieces? You regurgitate the same lengthy spammed post over and over again. I'm sorry but communism is a failed system. Whenever it's been tried...it's failed EPICALLY! When that's pointed out to you, your response is typical...you claim that what was tried wasn't "real" communism and that if we'll only trust you one more time that THIS time it's going to work! That it will be a "worker's paradise"! That it will be a classless society! It sounds so wonderful in theory, Christian and then real life and human nature happens and your theory implodes! Everyone being equal results in nobody being exceptional. Someone has to run your worker's paradise and they ALWAYS end up taking special status! I'm a History major. I know how this scenario plays out! I know how it ALWAYS plays out! So why don't you learn from other's mistakes and not drag us all down that same path again!

 

[pknopp]

No, that isn't in our laws. Biden is ignoring the laws, and you're defending his criminality.

If you say so.

Questions and Answers: Affirmative Asylum Eligibility and Applications | USCIS

 

[francoHFW]

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.

It's a definite indication. EVERYONE is paying about the same percentage in all taxes, a huge giveaway to the rich since Reagan...and screwjob for the country.

 

[DBA]

I proposed nothing. Your brain is mush.

So you are just being a contrarian with no real solutions?

 

[pknopp]

So you are just being a contrarian with no real solutions?

I stated my solutions.

 

[DBA]

It's a definite indication. EVERYONE is paying about the same percentage in all taxes, a huge giveaway to the rich since Reagan...and screwjob for the country.

WRONG. The bottom 50%, which I am quite sure you are in, pays an average tax rate of 3.5% while the top 1% pays an average tax rate of 25.6%. You have been fooled by the Democratic Party that feeds off of the millions of useful idiots in this country.

Summary of the Latest Federal Income Tax Data, 2022 Update

 

[DBA]

She was president of the university duhh and was ambushed by philistine scumbags...

Ambushed? She was asked a very simple question. Personally, I would have issued a follow-up based on her nonsensical response and asked her if a KKK group promoting the lynching of African Americans would have been seen as violating Harvard's code of conduct of if they would have actually had to attempt to lynch someone in order for it to be a violation. How would she have squirmed out of that one?

 

[DBA]

I stated my solutions.

And they aren't Socialist in nature? I guess I missed that.

 

[DBA]

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.

But you are wrong based on the facts.

Figures that you would want to rates to be higher only for incomes that don't affect you. That is a typical Democrat's mantra. Rules for thee but not for me.

 

[francoHFW]

Ambushed? She was asked a very simple question. Personally, I would have issued a follow-up based on her nonsensical response and asked her if a KKK group promoting the lynching of African Americans would have been seen as violating Harvard's code of conduct of if they would have actually had to attempt to lynch someone in order for it to be a violation. How would she have squirmed out of that one?

Àcademically speaking, depends on the context...dumb and dumber trumpettes want a bumper sticker answer..

 

[francoHFW]

But you are wrong based on the facts.

Figures that you would want to rates to be higher only for incomes that don't affect you. That is a typical Democrat's mantra. Rules for thee but not for me.

Flat tax system is a disastrous giveaway to the rich

 

[francoHFW]

WRONG. The bottom 50%, which I am quite sure you are in, pays an average tax rate of 3.5% while the top 1% pays an average tax rate of 25.6%. You have been fooled by the Democratic Party that feeds off of the millions of useful idiots in this country.

View attachment 889432

Summary of the Latest Federal Income Tax Data, 2022 Update

You are a brainwashed functional moron who only can think of federal income tax If you count all taxes, it's a flat tax,

 

[BluesLegend]

It's a definite indication. EVERYONE is paying about the same percentage in all taxes, a huge giveaway to the rich since Reagan...and screwjob for the country.

Flaming liberal please, enough with your dishonest spin. Who pays the ACTUAL MF'ing taxes? The top 10% (the rich) pay 71% of the MF'ing taxes. The bottom 50% pay only 3% that's pretty much nothing.