Top tax rates were at 70% when Microsoft and Apple were founded

[GoneBezerk]

Idiot...you will lose your Pizza Hut job gathering plates off tables if the tax rate goes to 70%

You really expect the man on the street to pay a 70% tax

No, I don't. Read the link below:
What is a marginal tax rate?

 

[Lakhota]

Most rank and file NaziCons are too stupid to know what a "marginal" tax rate is.

 

[Darkwind]

Yes, I do! Why wouldn't I?



We should rise the capital gain tax as well.

Why don't we stop the bullshit here and tell the truth for once.
You guys want to get as much money as you can in the hands of government as possible.

BS is that claim of yours. What we want the rich to pay their fair share. And not "to the government", but to seniors and disabled, to support children in poor families, to support our military, etc.

They already pay their fair share. So your reply is pure BS.

 

[ilia25]

Most rank and file NaziCons are too stupid to know what a "marginal" tax rate is.

Yes, that's fascinating.

 

[Lakhota]

Mark 12:17 Then Jesus said to them, "Give to Caesar what is Caesar's and to God what is God's." And they were amazed at him.

 

[ilia25]

They already pay their fair share. So your reply is pure BS.

No, they don't. The rich are getting ever bigger share of the pie -- their incomes are growing much faster than those of 99%.

 

[Lakhota]

Ten Numbers the Rich Would Like Fudged | Alternet

 

[Cammmpbell]

Link to any person in American history that paid 70% taxes.

That's right, this thread is made for the stupid libs on these boards.

Stupid is as stupid does. We just finished kicking your right wing asses and you and the stupid Fox News can't admit it.

Corporations and the upper 1% have made their inroads into the tax structure over the last sixty years....that's for sure. To one of those paper shuffling heirs a payroll tax would seem like a pittance:

 

[ScienceRocks]

They already pay their fair share. So your reply is pure BS.

No, they don't. The rich are getting ever bigger share of the pie -- their incomes are growing much faster than those of 99%.

If they earn it, why not? Someone sitting on their ass doing nothing probably doesn't deserve part of that pie. Generally we should and must reward our innovators.

 

[ba1614]

And how many people were in the "top tax rate" at that time compared to today?

Personally, I would rather the country have lots of rich people paying the taxes rather than a few rich people paying 70%. But that's just me, I believe the more rich people the better, I know that goes against the progressive wet dream, but there it is.

I would much rather have a nation with a very strong middle class paying the 35% or so we pay, than a nation with 1% paying 13%. Not only is the nation stronger, the government has more money to make the repairs that our infrastructure so direly needs. Why should a person with an income like that of Romney pay only 13%, or less, while someone making 100k off the sweat of their brow pays 35% total SS, Medicare, and Federal Income Tax? Time for all income to be taxed at the same rate as that of the middle class.

Give as much money to charity as Mr Romney does and you would get a lot of that tax back.

Make half the country that pays no federal tax pay federal tax. Nobody should be exempt from it.

And not once in my life did someone elses being rich hold me back from also succeeding. This is all bullshit excuses for the healthy useless.

 

[ilia25]

They already pay their fair share. So your reply is pure BS.

No, they don't. The rich are getting ever bigger share of the pie -- their incomes are growing much faster than those of 99%.

If they earn it, why not?

Because the rich are not earning it by working harder.

They are NOT working harder than they used to 10 or 30 years ago. It's their sheer dumb luck that the post-industrial economy rewards them ever more for doing the same job.

 

[Skull Pilot]

Most rank and file NaziCons are too stupid to know what a "marginal" tax rate is.

That particular ignorance is spread equally over the flock.

 

[Skull Pilot]

They already pay their fair share. So your reply is pure BS.

No, they don't. The rich are getting ever bigger share of the pie -- their incomes are growing much faster than those of 99%.

There is no pie.

Wealth is not a zero sum game.

If people wanted to make more money they could but it's been my experience that people don't want to do anything out of their comfort zone.

Most people don't want to give up their Monday night football or their Men's softball beer league in order to do something that will improve their financial situation.

But these same people want to take more from people who sacrifice in order to succeed.

 

[editec]

ALL income regardless of how it is made ought to be taxed at the same rate.

If the top rate on income from labor is 36%, so too ought the top rate for investment bea 36%.

Now conservatives are fond of explaining to us that what is rewarded with tax dollars you'll get more of.

But apparently they aren't entirely on board with the other part of that astute observation.

What is PUNISHED by taxation you'll also get less of.

So we punish (by taxation) workers more harshly than investors.

And still some of us wonder why the working class feels angry and cheated.

 

[Skull Pilot]

ALL income regardless of how it is made ought to be taxed at the same rate.

If the top rate on income from labor is 36%, so too ought the top rate for investment bea 36%.

Now conservatives are fond of explaining to us that what is rewarded with tax dollars you'll get more of.

But apparently they aren't entirely on board with the other part of that astute observation.

What is PUNISHED by taxation you'll also get less of.

So we punish (by taxation) workers more harshly than investors.

And still some of us wonder why the working class feels angry and cheated.

Why is the answer always higher taxes.

I do agree that all income regardless of the source should be taxed at the same rate but a lower rate on gross income with the end of all the deductions, exemptions and tax credits would bring in more money as well.
A simple tax code would allow us to cut the size of government tax enforcement agencies thus increasing net revenue even more

 

[Cammmpbell]

They already pay their fair share. So your reply is pure BS.

No, they don't. The rich are getting ever bigger share of the pie -- their incomes are growing much faster than those of 99%.

If they earn it, why not? Someone sitting on their ass doing nothing probably doesn't deserve part of that pie. Generally we should and must reward our innovators.

That "sitting on their ass" remark just places your dumb ass into the same arena as Romulus. When that bastard referred to 47% of the electorate as "takers" he sealed his doom and rightly so.

You folks just don't get it. Well....just keep on tuning in to Faux and four years from now you'll find your ass between your shoulder blades again.

 

[TakeAStepBack]

Top tax rates were at 70% when Microsoft and Apple were founded

Cum hoc, ergo propter hoc?

I believe so, yes....

 

[Truthmatters]

I guess they forgot to tell Steve Jobs and Bill Gates that high tax rates kill incentives to innovate.

How about the top tax rate when IBM emerged?

teh LIE that top tax rates are what drives the economy is just insanity

 

[TakeAStepBack]

Top tax rates were at 70% when Microsoft and Apple were founded

Cum hoc, ergo propter hoc?

I believe so, yes....

So we have to ask; was the federal budget balanced at that time? Was there enough revenue to do that, and perhaps pay down debt?

 

[Too Tall]

The point of rising top marginal rates:
1. Cut the budget deficit while providing enough funding to the social programs.
2. Rise the after tax income of 99% by reducing their taxes.

I got these quotes from the Cato link YOU provided.

I provided that link (at a request of one particularly fuck-faced moron) as a typical example of right-wing lies

High taxes do not shrink the tax base, unless you believe that billionaires are ready to risk a jail time to save money.

And high taxes do not kill incentives and innovation, which is the point of the OP.

OK, since you do not believe the Cato link, how about providing a link to prove that "high taxes do not shrink the tax base." Keep in mind that high marginal tax rates are not the same as the effective tax that people actually pay.

I assure you that the monied few do put their money in tax free bonds to preserve capital rather than send it to Washington. And that most assuredly does shrink the tax base.