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

Originally posted by macman
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.

Why move up in life? Maybe because under your example, you're still making much more money at 300K than 150K? And people are motivated by more than just money in life. Crazy but true!

Also, how do you explain the rich when the tax rate was 90% or 70% in this country? They were somehow still motivated to do their jobs and move up in life.

The wealthy have it sooooo good in this country and it baffles me that people are somehow coaxed into defending them. They are paying lower taxes than they have in decades. They don't pay social security on income over 100K (While everyone else pays on the entirety of their paychecks), in some instances they actually pay less taxes than someone that makes considerably less than them.

The real problem is when such a small percentage of the population is continually accumulating more and more of the wealth, while paying lower and lower tax rates, it makes for a huge imbalance in the wealth distribution in this country. I believe the US has the biggest inequality of wealthy of any country in the world. That's not alarming to anyone?

Originally posted by neo96
reply to post by spinalremain

 

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

NO!

Isn't it because they make such a low amount of money that they don't qualify? Big, big, big gulf of the "haves and have nots", and they things are going it's only going to get worse.

Originally posted by Miraj
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..

Take home pay at 30K with 12% tax is $26,400.

Take home pay at 250k with 25% tax is $187,500

Do you have any idea what you are talking about? I would take the $187,000 job without any doubt. Maybe i am the stupid one?

To answer the OP's question, yes the rich manged to stay rich. The 70-90% tax was on income, and not on the wealth they already had accumulated. It simply made it harder for folks to get wealthy enough to compete with the elite. This is one reason that high tax rates don't work. It ends up leaving control of the economy in the hands of the people that have already accumulated the most wealth.

The ideal system in my mind, taxes wealth rather than income. If you spend everything you make then you pay no taxes. Exempt savings up to $1,000,000 in net assets. Then start a progressive wealth tax from there. Max it out at about 3% a year for the very wealthy ($100,000,000 or more). Then replace the corporate tax with a flat tax on revenues of 5% or a national sales tax of 5% (consumers will pay it either way).

I estimate national wealth at $70 trillion ($55 Trillion in 2009) . I estimate you can get about $1.4 Trillion in tax revenue from this. GDP was $15 trillion in 2010 so another $750 billion from this. So this brings us to to $2.15 trillion in annual tax revenue. According the GOA the operating cost to the government was $2.02 trillion in 2010. This differs from the total budget as some of the spending is offset by social security tax, medicaire tax and premiums, user fees, gas taxes, etc.

So we are already where we need to be under this tax plan. As the economy grows and tax revenues rise we can start eliminating our national debt and ultimately be able to lower these already low rates.

Any major objections out there to this plan?

reply to post by origamiandurbanism


i dont care no matter the income you get taxed you dont tax one group and give a free pass to others.

74 million arent paying taxes and if those 74 paid at least 500 bucks that equals 37 billion dollars.

does the us constitution mean nothing to you people you can not tax or steal from a minority to pay for the majority.

get that.

you people have no right to deem how much someone can make and how much more they can be taxed and let ofthers get off scott free.

take someone elses hard earned cash just dont take yours and when there are no more rich because thats what a progressive tax is it keeps eating away until theres nothing left.

no i am not having any part of that and anyone who does support that is nothing but fascist.

If you keep putting the tax burdens on the successful then this is going to turn into a Galt's Gulch scenario.

You poor people need to get off your lazy butts and go find jobs. There's Port-a-Potty and telemarketing. You poor people need to learn to fit more to a dwelling and eat more ramen. Of course, I wouldn't hire you, you're poor people. You're obviously uneducated and uncultured. I wouldn't look you in the eyes, much less be in the same space as you.

I feel like this is the attitude of the elite. Frankly, I wish the elite would get fed up and leave. I'm sure we'll do just fine without them.

/cry

So you have to drive your 100k Mercedes for another year before you trade it in for a brand new one.

Take away 10 percent from a person that makes 30 grand a year and that hurts them big time..

Take away 10 percent from a millionaire and they cant buy that second cottage on the lake this year.

TAX the rich more PERIOD !!!

Cut the FREE LOADERS also !!!

I am sick of pulling the weight for BOTH ends of the spectrum....

Originally posted by Zaanny
TAX the rich more PERIOD !!!

How does a tax on being successful make any kind of sense?

I thought it might help to post a chart of the 2012 federal budget proposal.
www.whitehouse.gov...

Originally posted by Miraj
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..

Apparently they do not teach the same math in school today, that they did when I went to school.

30000 - 12% = 26400
250000-25% = 187500

wow, do they not teach kids percentages these days?

We can keep sending our jobs over seas.

Really.
How do we ship our jobs overseas?
What kind of packaging does it require?
If we ship in bulk can we get a better shipping rate?

The jobs don't leave, the corporations leave. And let them leave. I am under the belief we don't need them. We should start learning how to take care of it in our community then a single corp. wont amass a their own spy network. findarticles.com...

I just love that line, “The rich are greedy because they don’t want us to take their money!” Why would someone be angry that they actually worked hard and succeeded just to have a government supported by the envious masses come and take their earned wealth by force? So many of these ‘Liberals’ cry about the rich being greedy with the money they earned but have no problem, in fact they even support envy.

Definition of envy: “the resentful or unhappy feeling of wanting somebody else's success, good fortune, qualities, or possessions”

That sounds awfully familiar.

wealthy people don't want to pay their share.

by spinalremain

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!

by spinalremain

Not to mention how some people feel that somehow somewhere they were given a right to decide where people must draw the line on wealth.

Taxing people that make 10+ million to billions is punishing excess.

by RockPuck

It is mob rule. Because the majority of the people are not rich they feel that they are entitled to take from the minority of the people, why? Because they do not have the number of people to actually fight back in a way that we can see, however they do control the employment and investment in an economy. This all sounds like 3 wolves and a sheep voting on what to have for dinner. It’s purely mob rule, i.e. democracy, and a complete abandonment of our Republican values.

Thanks you envious bastards for turning America away from republican virtues.

reply to post by neo96


They pay no income taxes, they pay sales tax, and property tax, and I am sure it adds up to more than 500 bucks a year. Not to mention they pay SS and medicare as well, do not believe that 74 Mil people in this country pay no taxes, please watch your partisan rhetoric.

Originally posted by eazyriderl_l
We can keep sending our jobs over seas.
the above was a quote that didn't go right.

Really.
How do we ship our jobs overseas?
What kind of packaging does it require?
If we ship in bulk can we get a better shipping rate?

The jobs don't leave, the corporations leave. And let them leave. I am under the belief we don't need them. We should start learning how to take care of it in our community then a single corp. wont amass a their own spy network. findarticles.com...

the whole thing is messed now

Originally posted by macman
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.

Because you cannot do math?

$150K - 40% = $90K
$300k - 50% = $150k

Why would you want almost double the money?

Originally posted by Misoir Thanks you envious bastards for turning America away from republican virtues but we are finally waking up to your little game. It is high time the law puts you in your place whether you like it or not.

I hope you're joking. BTW, I'm a socialist

Originally posted by neo96
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.

Like GE?

Originally posted by gentledissident
BTW, I'm a socialist

Because Socialism works out in the long run.

Originally posted by eazyriderl_l a single corp. wont amass a their own spy network. findarticles.com...

What makes you think this is for spying?

Originally posted by Nosred

Originally posted by gentledissident
BTW, I'm a socialist

Because Socialism works out in the long run.

I cannot find one society that has tried my way.