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It's so easy for neo-socialists to pile on rich people, and put their hands in those rich pockets, just as long as you never bring up the fact that YOU might be considered "rich" to someone else, and some other socialist might be trying to steal YOUR money.
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"I should be calling collect from jail for the things I commit each night in my head" - D. Mustaine. |
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During the 70's when the top marginal rate was 75%, the top 1% paid 36% of all Federal Income Taxes. When Reagan lowered their rates to 50%, and cut out a bunch of tax deductions, the top 1% started paying 33% of all Federal Income Taxes collected, but the ensuing economic Boom more than made up for any tax revenue lost, simply because more people actually had jobs. When Reagan lowered the rates again to 28%, and cut out the last remaining big loophole (Real Estate Investments), at first revenue fell down to just 27%, because of the ensuing Real Estate Crash, then it went up to a record 36%, while at the same time generating millions of new jobs. So what's the lesson from all this? Confiscatory rates at the top don't necessarily mean more money in the Feds Coffers. During these times of "Tax Breaks to the Rich", the bottom 50% continued to see record increases in earnings, while at the same time seeing their share of taxes reduced from a high of 9% during the Carter Years, to the low of 3.07% (as of 2005) that we have today. Low Taxes for all, really does produce "Supply Side Economic" Benefits, only those who wish to ignore the Data can argue with these facts.
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http://www.nosocialism.com ----------------------------------------------- America is not a Socialist country, this is why the only democrats who ever win, are democrats who SOUND like Republicans (Hello Bill Clinton - "Low taxes, Free Trade, Welfare Reform, Era of Big Government Over" - Sounds Republican - Hello Barrack Obama - "My Tax Cut is Bigger than yours, Your Health Care Plan is Big Government, Parents need to take responsibility for their kids schooling]"). |
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Honestly, unless you're in the top 1% of income makers then I don't know why someone would vote Republican.
The way I see it. The only real Republicans are the 1%. The other 99% of Republicans are just puppets who wish they were in the top 1%. |
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Do you have your mom take your barbells up to the attack to earn her keep? Steve Martin did....but that was a comedy bit and you are speaking in earnest. I'm not sure what to make of your criticism of us socialists. |
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No but there is something wrong when 12.8% of the adjusted gross income (the bottom 50%) pay only 3.07% of the income taxes and 21.2% of the AGI (top 1%) pays nearly 40% of the income taxes. And then Obama wants to shift another $131 B to the top 1%? How do you justify the inequality?
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1. Income taxes are only one part of the government revenue figure. So it's apples-to-oranges to compare income tax rates to total federal revenue. 2. Marginal rates are only one part of the income-tax system. There could be offsetting credits, deductions, allowances, etc. 3. Messing with the marginal rates affects how the tax burden is distributed, even if you set the numbers so that total revenue is unchanged.
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Man up. |
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1. Maximum revenue for minimum collective pain -- the wealthy can pay more without it being a hardship. That's why it's practical and humane.
2. Taking the most money from those who most benefit from the system the taxes pay for. The wealthy benefit more than anyone else from the infrastructure, laws and stable society that allow them to earn and accumulate their wealth. They have the most to lose from a breakdown. That's why it's fair.
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Man up. |
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