When the Progressive Income Tax Rates were high were the Rich or the Wealthy people still Rich did t

When the Progressive Income Tax Rates were high were the Rich or the Wealthy people still Rich did they still have more money than the average person or citizen they still had money left over ?

The logic of Taxing the Rich, and Why Dems are Afraid to Use It

Wednesday, October 17, 2007

Well, the highest marginal tax rate under Republican Dwight Eisenhower was 91 percent. It dropped under JFK to the 70 percent range.
robertreich.org...

Go ahead, raise the taxes on success. It's one more reason for people to not bother trying, or to leave the USA altogether. We did - and we won't come back by our own choice any time soon. We're too worried about the future there.

What is it now, half the country is on some form of welfare? That is not supportable, no matter how much tax you take from the wealthy. There aren't enough of the wealthy to support that many people - not forever. Then what?

There's nothing wrong with "the Rich" paying their fair share is there??

I for one don't think so. I would love to see the tax code simplified to the point of a flat tax. NO DEDUCTIONS. You make $x, you pay $y, PERIOD.

Same deal with corp. taxes. I get sick and tired of hearing the BILLIONS of dollars in corp taxes that don't get paid due to loop holes.

As far as American companies shipping jobs over seas, we should tax them the value of the unemployment insurance for each job that they ship over.

Why does it matter?
To raise taxes is to take away from some to give to others.
If I go from say $150k a year, taxed at 40%, only to go to $300k a year and then taxed at 50%, then why move up in life? It is punishment.

Very plain and simple.

Originally posted by ctdannyd

As far as American companies shipping jobs over seas, we should tax them the value of the unemployment insurance for each job that they ship over.

That is called 'Protectionism" and only brings about the further decline of an economy.

Originally posted by macman

Originally posted by ctdannyd

As far as American companies shipping jobs over seas, we should tax them the value of the unemployment insurance for each job that they ship over.

That is called 'Protectionism" and only brings about the further decline of an economy.

Really?

We can keep sending our jobs over seas.

Then the only thing we'd need to teach our kids in school would be to say, "...would you like fries with that?..."

reply to post by ctdannyd


Wouldn't that be great! I agree with you 100 percent, but I think the government knows they can squeeze more money out of the working class the way the system stands now. I think it's a fair plan. Everyone gets taxed at the same percentage, and no more tax laws that find ways to pick our pockets.

I talk to an older dude in his 60's that remembers the highest tax bracket being around 70%. One thing we like to talk about is the tax code and how there are too many breaks for the rich and corporations. What people forget to realise is that the reason why the rich are that is due to exploiting the labor of others and the infrastructure of the US, so yes there taxes do need to be higher to support the system they profit so very much from. The other issue I see is the cap on social security payments, there shouldn't be a cap. Reason being, as a percentage, it puts a higher tax burden on what's left of the middle class and the poor to support social security, the very people it's supposed to be benefiting.

reply to post by mikejohnson2006


There is a difference, I think, in taxing excessively "rich" people who are simply millionaires and taxing the ultra rich that make guys with $5 million in the bank look like peasants.

Taxing people who make a few million seems to me punishing success. Taxing people that make 10+ million to billions is punishing excess. For instance, if Sam Walton (creep) and his family (creeps) were taxed at a rate of 80% they'd still have almost $50 billion dollars. Bill Gates would still have over $10b

Another perspective .. the CEO of Walmart makes in 1 hour what her average employee makes in an entire year. www.guernicamag.com... rnica+%2F+Blog%29

THAT .. to me .. is inequality .. it is quite frankly unamerican.

It's not that corporations should be FORCED to do anything .. it used to anyways be expected that they would take care of their own. They'd make it big, secure their wealth, and let the corporation take care of not only the employees but the towns they reside in. A PERFECT example is the founder of Hershey chocolates.

www.ideafinder.com...

Towards the end of his life he became ill and couldn't make it to a Christmas Mass, most of the town showed up outside his window and sang Christmas carols. Can you imagine doing that for the CEO of Walmart .. Citi Bank .. Exxon? Greed and brutal capitalism is not the way America was intended.

Originally posted by ctdannyd
There's nothing wrong with "the Rich" paying their fair share is there??

I for one don't think so. I would love to see the tax code simplified to the point of a flat tax. NO DEDUCTIONS. You make $x, you pay $y, PERIOD.

So, if you make $40,000, you'd be ok paying out 15% of that? I know the guy making a million a year would be more amenable to a flat tax but the lower income folks wouldn't. The tax rates, as they stand, are skewed against the wealthy. If you switch to a flat tax, they'd be thrilled.

Oh yes....the 'ol "I'm jealous others have more than me, so I feel they should pay more out than everyone else" argument

My family for generations back worked their arses off to obtain the wealth they had. They never depended on the system. They started and built up businesses, invested wisely and were extremely successful. They donated to charities and helped out those in need - of their own free will.

Yet......many out there feel they are entitled to receive handouts from them (and others like them) because they are more successful.

No. Absolutely not. People earn it, they should do what they want with it. And it is ridiculous and selfish to think that those who have more should dish it out to those who have less.

What is more ridiculous are all the generations after having to pay inheritance taxes on money THAT WAS ALREADY TAXED. That money gets re-taxed over and over and over - each time it is handed down. Yeah, that is fair

Originally posted by Schkeptick
It's one more reason for people to not bother trying, or to leave the USA altogether.

I really, really, really don't buy that one bit... It does not account for the 50's for example. It does not
Count for the guitar player who plays for free, the artist who sells masterpieces for squat or the techies who
Push the boundaries because they have always done so. That is the base human in you
Pouting... I try and fail endlessly for free and you make it sound as if if homeless and millions (as opposed to billions) is comparable, it is not. If these people you speak of want to give up on life, I assure you there are many more who are willing to step up.

Originally posted by greeneyedleo
Oh yes....the 'ol "I'm jealous others have more than me, so I feel they should pay more out than everyone else" argument

My family for generations back worked their arses off to obtain the wealth they had. They never depended on the system. They started and built up businesses, invested wisely and were extremely successful. They donated to charities and helped out those in need - of their own free will.

Yet......many out there feel they are entitled to receive handouts from them (and others like them) because they are more successful.

No. Absolutely not. People earn it, they should do what they want with it. And it is ridiculous and selfish to think that those who have more should dish it out to those who have less.Reinvest it, or get out of here

What is more ridiculous are all the generations after having to pay inheritance taxes on money THAT WAS ALREADY TAXED. That money gets re-taxed over and over and over - each time it is handed down. Yeah, that is fair

It is ridiculous not to see that this trend is not good for the majority of Americans.
These low tax rates have not create the prosperity forecasted by Ronald and Rand.
These rates are creating an economy that mirrors the pre depression economy actually.
Can you provide any recent evidence that retaining these low tax rates is good for America and Americans?
You want to give ice cream and cake everyday, maybe ten years is enough
Until america gets it's fiscal house in order.

Gotta love the double standard with Supply Siders on this issue.

Supporters of supply side love to cry foul when stating the wealthiest Americans should pay their taxes. Somehow it's seen as a "penalty".

Yet these same supporters never claim that Joe Blow in Idaho who makes 50k is being penalized.

Why are only the rich people being penalized? Everyone else pays their taxes. Seems to me rather, that they're only under the illusion of entitlement. As if the less than affluent didn't earn their money. It's a scam. People found a way to sucker the rest of us................and somehow convinced others that it's a good idea!

why dont you people starting thinking about the 74 million americans who pay no tax whatsoever before you start trying to make others pay more.

you people and this government is not entitled to money they didnt earn.

cant be any more clear on that fact.

stop with the freaking robbing hood deal.

Let's say your income tax is 20%. This is without including deductions or other taxes at the state level. Now you must work to make the money that you have to pay 35% of to the government. Since the average American works around 50 weeks a year, 5 days a week, 8 hours a day that is about 2,000 hours a year. So if you just take out of that the amount of money you must give the government (20%) from your income of per se $100,000 then you pay $20,000 to the government. What this is equivalent to is being forced by threat of imprisonment (what happens if you refuse to pay taxes?) to work 1.6 hours a day, 1 day a week, 10 weeks, 400 hours a year without recieving an income.

Definition of slavery: "the state or condition of being held in involuntary servitude as the property of somebody else."

Don't you think that walks a little too close to the line of slavery? Sure no one is forcing you to work but you must work to survive and if you work (legally) then you are forced to pay income taxes.

reply to post by Schkeptick


Yeah.. I'd rather work for 30k, and get taxed.. 12% than make 250k and get taxed 25%.

Because in the end, I'm not making anymore money than the 30k guy..

reply to post by neo96


No
That's another issue. This topic is about progressive tax, and how wealthy people don't want to pay their share.

reply to post by spinalremain


yeah 74 millions americans are not paying there share but go after the ones who do pay.

NO!

Obviously this is a volatile topic. My only point in previous posts on this topic is that we have to find a way to get everyone pay their "fair share". Sure, we have to come up with just what that is, but we should define it and live by it.

My whole life, I've worked, paid my bills, helped put my kids through school, just like many other John Q citizens have, but, I'm still willing to supplement those who are struggling. I don't consider that as digging into my pockets, I feel it's a moral responsibility.

There's a faction of people that are completely ok with the old Eskimo (no intent to dis Eskimo's here!) tradition of putting the old or indentured out on the proverbial ice berg and let 'em go... I thought we were better than that, I still believe we are, and I'll keep pushing for those that aren't to take a hard look at themselves.

Seems in the world today there's a very polarized position on just about everything.

Me...I'm going to watch the new Transformer movie and see if the new gal is as good as Megan Fox ;-) !