It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Originally posted by Quadrivium
Lol your OP made me laugh. If the rich were taxed now as they were in the 60's we would still be in this mess. The only difference would be that the government would have more money to waste.
Say what you want the rich did not cause this by themselves, no more than the 49% of Americans who don't pay taxes did.
Our government is corrupt David. No matter how much you give them, and no matter from whom you take it, they will always want more.
Ever heard the saying "the rich keep getting richer while the poor keep getting poorer"?
Who makes that possible?
Who is actually working to make it happen?
Ask yourself a couple of these questions.........
»How many poor people (not elderly, most of them have worked for a living but were not able to save enough for retirement) has the government actually helped with all of the "assistance" they provide?
» If the most of these entitlement programs actually fail those whom they are intended to help, why keep pouring money into them?
» Why would our government want certain classes of people to stay poverty stricken?
» How will taxing the rich solve our problems? Be honest.
The problem we have is that many in our government want certain people poor, it provides a nice voting base. They fool these people into thinking they want to help, but actually they just want to help themselves.
If you really wanted to help the poor (again, I am not speaking of the elderly or disabled) wouldn't you offer programs that lifted their self esteem and self worth? Help them believe that they can overcome their current situation.
Or would you make it where they just got a check and foodstamps every month? By doing so you would be breaking their self image, making them feel dependant upon others, which leads to them blaming others for their situation. They begin feeling that there is no way out, so why try? They adopt the mentality that the government will provide for them.
Many good hearted people get sucked into this scam as well. They fight for more entitlements for the poor because it makes them feel like they are helping, like they are doing something good. They are led by their heartstrings into condemning these people to a type of modern slavery.
About the only solution left to us is to let the entire system crash and reboot. That and clean house in DC.
The rich in 1955 paid far more of their income in taxes than today's rich. In 2008, the new IRS data show, the top 400 paid only 18.1 percent of their total incomes in federal income tax. The top 400 in 1955 paid 51.2 percent of their total incomes in tax.
Suddenly I'm feeling like BRING IT ON! My family can survive just fine on my skills as a hunter and fisherman. And when I hear about the elites killing themselves I'm going to sit back, munch on my squirrel burger, and LAUGH MY ASS OFF!
The top tax bracket circa 1955 was 91.0%.
After loop holes and write offs, the average "paid" taxes was in 51.2% range.
To answer the "unaswerable question" posted above, as to why this can't be replicated today:
It ain't 1955 anymore.
In 1955, it would have taken YEARS to move a corporation's headquarters.
Today it can be done in a matter of days.
There are countries that will now have very good looking tax rates that the US has FTA's with. That means lots of places with no tariffs to move to.
The following fact was sent to numerous conservative pundits, politicians, and profitseekers:
Based on Tax Foundation figures, the richest 1% has TRIPLED its share of America's income over the past 30 years. Much of the gain came from tax cuts and minimally taxed financial instruments. If their income had increased only at the pace of American productivity (80%), they would be taking about a TRILLION DOLLARS LESS out of our economy.
And a question was posed:
In what way do the richest 1% deserve these extraordinary gains?
This question was not posed in sarcasm. A factual answer is genuinely sought. It seems unlikely that 1% of the population worked three times harder than the rest of us, or contributed three times as much to American productivity. Money earned from tax cuts and minimally taxed financial instruments is not productive income.