S
sergbelxx
Guest
it goes like this:
anyone making over 1 million dollars a year will get taxed at a 40% rate for any income over 1 million dollars. Then anyone making over $3 million will pay 45% top margin on any income up to $5 million. Any income over $5 million per year will be taxed at a rate of 50%.
One thing people claim a lot is that people will stop working? lol are you kidding me?
You mean to tell me that if your salary is 80 million dollars a year, and you are paying a 50% tax rate on that last 75 million that you will not work because you only get to keep 37.5 million of that 75 million? that is silly. In the past wealthy americans were taxed at much higher rates, and they paid it ...and they did not leave the country or go dump their assets elsewhere.
Also in the past, when the top margings were much higher the USA economy grew to be the envy of the world and things like budget deficits were very minimal proplems.
So if you are going to criticize my proposal, please be sure to address a) that people still will work and make tons of money even at a 50% top margin and that only the wealthiest 2% of the country are impacted. b) also address the myth that economy will go to pots if the richest americans pay a top margin of up to 50%.
Here are some facts...so that we ..talk about facts:
Partial History of
U.S. Federal Income Tax Rates
Since 1913
Applicable
Year Income
brackets First
bracket Top
bracket Source
1913-1915 - 1% 7% Census
1916 - 2% 15% Census
1917 - 2% 67% Census
1918 - 6% 73% Census
1919-1920 - 4% 73% Census
1921 - 4% 73% Census
1922 - 4% 56% Census
1923 - 3% 56% Census
1924 - 1.5% 46% Census
1925-1928 - 1.5% 25% Census
1929 - 0.375% 24% Census
1930-1931 - 1.125% 25% Census
1932-1933 - 4% 63% Census
1934-1935 - 4% 63% Census
1936-1939 - 4% 79% Census
1940 - 4.4% 81.1% Census
1941 - 10% 81% Census
1942-1943 - 19% 88% Census
1944-1945 - 23% 94% Census
1946-1947 - 19% 86.45% Census
1948-1949 - 16.6% 82.13% Census
1950 - 17.4% 84.36% Census
1951 - 20.4% 91% Census
1952-1953 - 22.2% 92% Census
1954-1963 - 20% 91% Census
1964 - 16% 77% Census
1965-1967 - 14% 70% Census
1968 - 14% 75.25% Census
1969 - 14% 77% Census
1970 - 14% 71.75% Census
1971-1981 15 brackets 14% 70% IRS
1982-1986 12 brackets 12% 50% IRS
1987 5 brackets 11% 33% IRS
1988-1990 3 brackets 15% 28% IRS
1991-1992 3 brackets 15% 31% IRS
1993-2000 5 brackets 15% 39.6% IRS
2001 5 brackets 15% 39.1% IRS
2002 6 brackets 10% 38.6% IRS
2003-2008 6 brackets 10% 35% IRS
this graph is also very telling in terms of showing what happens in excess money is funneled to the richest americans via tax policy. What gets me is how you get some mope making $30-40,000 a year defending the right of the super rich to pay less taxes.
http://static1.firedoglake.com/1/files//2008/09/top-1-share-to-2005.gif
smelly your everyone should contribute argument is a false argument.....the real issue here is not that the guy making $20,000 a year pay another 5 or 10% of his income...whoopee....gee we got another $1500 out of that guy...that makes you happy? no the issue is saying to the guy making 10 million a year "hey anything you make over 5 million you have to pay half of it in taxes" thats another 5 million dollars into the public treasury to help society function better etc.... which is more important?
no the money is not going to welfare..thats also a false argument...it pays for the wars in iraq and afghanistan and for roads and bridges and highways and border patrol...and maybe healthcare....very important and noble things...its a lie to say it all goes to lazy welfare people. Once again..I repeat, for decades since 1913, the USA richest americans paid way higher in taxes than they do today...and we did great as a country.
Poocat...you ignore my facts that we have had much higher tax rates than I mention in the past and the horrible things you predict would happen did not happen. In fact, the evidence suggest that our economy has done better over the years generally when taxes were highest. Look at my chart of tax rates since 1913..also compare that to the graph I gave a link to. You people are just repeating what you have heard..you cannot refute facts.
www. were we a socialist country under Eisehower? under Kennedy? Under Nixon?? Did the country go to pots? no.....so try again. why do you not address the facts????
YOU GUYS SEE HOW MUCH ORDINARY AMERICANS ARE WHINING ABOUT PEOPLE WHO MAKE OVER 1 MILLION HAVING TO PAY A BIT MORE TAX? AND HOW THOSE MAKING OVER $5 MILLION WOULD HAVE TO PAY JUST 15% MORE IN TAX THAN THEY DO NOW?
LOL
well Jeff...finally makes a reasonable comment. He accepts my facts, but just says he does not think the rich should pay anymore than anyone else. fair enough Jeff....thats honest debating...but just keep in mind ...going back to 1913 most years the rich did in fact pay way more than 60% top marginal tax rate....so our country was very accepting of that...all the way up until Reagan came to office.
anyone making over 1 million dollars a year will get taxed at a 40% rate for any income over 1 million dollars. Then anyone making over $3 million will pay 45% top margin on any income up to $5 million. Any income over $5 million per year will be taxed at a rate of 50%.
One thing people claim a lot is that people will stop working? lol are you kidding me?
You mean to tell me that if your salary is 80 million dollars a year, and you are paying a 50% tax rate on that last 75 million that you will not work because you only get to keep 37.5 million of that 75 million? that is silly. In the past wealthy americans were taxed at much higher rates, and they paid it ...and they did not leave the country or go dump their assets elsewhere.
Also in the past, when the top margings were much higher the USA economy grew to be the envy of the world and things like budget deficits were very minimal proplems.
So if you are going to criticize my proposal, please be sure to address a) that people still will work and make tons of money even at a 50% top margin and that only the wealthiest 2% of the country are impacted. b) also address the myth that economy will go to pots if the richest americans pay a top margin of up to 50%.
Here are some facts...so that we ..talk about facts:
Partial History of
U.S. Federal Income Tax Rates
Since 1913
Applicable
Year Income
brackets First
bracket Top
bracket Source
1913-1915 - 1% 7% Census
1916 - 2% 15% Census
1917 - 2% 67% Census
1918 - 6% 73% Census
1919-1920 - 4% 73% Census
1921 - 4% 73% Census
1922 - 4% 56% Census
1923 - 3% 56% Census
1924 - 1.5% 46% Census
1925-1928 - 1.5% 25% Census
1929 - 0.375% 24% Census
1930-1931 - 1.125% 25% Census
1932-1933 - 4% 63% Census
1934-1935 - 4% 63% Census
1936-1939 - 4% 79% Census
1940 - 4.4% 81.1% Census
1941 - 10% 81% Census
1942-1943 - 19% 88% Census
1944-1945 - 23% 94% Census
1946-1947 - 19% 86.45% Census
1948-1949 - 16.6% 82.13% Census
1950 - 17.4% 84.36% Census
1951 - 20.4% 91% Census
1952-1953 - 22.2% 92% Census
1954-1963 - 20% 91% Census
1964 - 16% 77% Census
1965-1967 - 14% 70% Census
1968 - 14% 75.25% Census
1969 - 14% 77% Census
1970 - 14% 71.75% Census
1971-1981 15 brackets 14% 70% IRS
1982-1986 12 brackets 12% 50% IRS
1987 5 brackets 11% 33% IRS
1988-1990 3 brackets 15% 28% IRS
1991-1992 3 brackets 15% 31% IRS
1993-2000 5 brackets 15% 39.6% IRS
2001 5 brackets 15% 39.1% IRS
2002 6 brackets 10% 38.6% IRS
2003-2008 6 brackets 10% 35% IRS
this graph is also very telling in terms of showing what happens in excess money is funneled to the richest americans via tax policy. What gets me is how you get some mope making $30-40,000 a year defending the right of the super rich to pay less taxes.
http://static1.firedoglake.com/1/files//2008/09/top-1-share-to-2005.gif
smelly your everyone should contribute argument is a false argument.....the real issue here is not that the guy making $20,000 a year pay another 5 or 10% of his income...whoopee....gee we got another $1500 out of that guy...that makes you happy? no the issue is saying to the guy making 10 million a year "hey anything you make over 5 million you have to pay half of it in taxes" thats another 5 million dollars into the public treasury to help society function better etc.... which is more important?
no the money is not going to welfare..thats also a false argument...it pays for the wars in iraq and afghanistan and for roads and bridges and highways and border patrol...and maybe healthcare....very important and noble things...its a lie to say it all goes to lazy welfare people. Once again..I repeat, for decades since 1913, the USA richest americans paid way higher in taxes than they do today...and we did great as a country.
Poocat...you ignore my facts that we have had much higher tax rates than I mention in the past and the horrible things you predict would happen did not happen. In fact, the evidence suggest that our economy has done better over the years generally when taxes were highest. Look at my chart of tax rates since 1913..also compare that to the graph I gave a link to. You people are just repeating what you have heard..you cannot refute facts.
www. were we a socialist country under Eisehower? under Kennedy? Under Nixon?? Did the country go to pots? no.....so try again. why do you not address the facts????
YOU GUYS SEE HOW MUCH ORDINARY AMERICANS ARE WHINING ABOUT PEOPLE WHO MAKE OVER 1 MILLION HAVING TO PAY A BIT MORE TAX? AND HOW THOSE MAKING OVER $5 MILLION WOULD HAVE TO PAY JUST 15% MORE IN TAX THAN THEY DO NOW?
LOL
well Jeff...finally makes a reasonable comment. He accepts my facts, but just says he does not think the rich should pay anymore than anyone else. fair enough Jeff....thats honest debating...but just keep in mind ...going back to 1913 most years the rich did in fact pay way more than 60% top marginal tax rate....so our country was very accepting of that...all the way up until Reagan came to office.