Originally posted by thepresident
Originally posted by marrasca
reply to post by IsThisThingBugged
Taxing the rich is just a another trick that most idiots will welcome. If 97% of the dollar has been devalued since the 30's, what do you think is going to happen when this quantitative easing (money printing) starts affecting inflation? I had the opportunity to live in italy during the eighties, and ten years before the acceptance of the euro, I witnessed the old currency (Lira) inflate to over 400% in just 7 years. My point is that a tax based on a fixed higher income is wrong because we will all be earning a lot of more money, but it will all be inflation. If your making 60K today, don't be surprised if you will be earning 150K in 5 years. You will earn more, but your buying power will be the same or worse.
Quote me on this, the average family income will meet or surpass the 250K threshold in less than 10 years, and will still be struggling to get by.
Open your eyes people, this attack the rich taxation policy is a trick that will blanket us ALL!
America taxed the rich at 90% during the Eisenhower and 70% during JFK
We did not have a structural deficit and the economy was more healthy in both eras
This problem with deficits began in the 80's when the rates were slashed
around 35% - low and behold the rates are still round 35% and the deficits are not reversing.
Can you explain why the tax rich policy will not work again?
I never said not to tax the rich. My point is that creating a monetary ceiling where we would be considered wealthy is wrong because during with the natural course of inflation we will all eventually hit that ceiling. Taxes should be a flat percentage for everyone, no excuses. Taxing ingenuity and success is not correct. I would not like to be held back, would you?
edit on 7-9-2012 by marrasca because: i messed up