Where did the myth of "historically high taxes on the wealthy" come from?

Discussion in 'Political Opinions & Beliefs' started by Dave1mo, Jun 21, 2011.

  1. Dave1mo

    Dave1mo New Member

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    Serfin' USA and (deleted member) like this.
  2. Nunya D.

    Nunya D. Well-Known Member

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  3. ModerateG

    ModerateG New Member

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    The rich have historically low taxes. They're simply lying.


    America used to tax the rich by like 70%. It's gone down gradually to what it is today. Much of the rich don't even pay taxes due to loopholes.

    In fact often the rich pay less % of taxes then poor and middle class people because poor and middle class people can't afford the loopholes. And they have 9% less taxes then in the 90s.
     
  4. Dave1mo

    Dave1mo New Member

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    Where, exactly, would you put another variable?
     
  5. technobabble

    technobabble New Member

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    the OP lies...that picture is clearly a side view cutaway of a forearm muscle.
     
  6. ModerateG

    ModerateG New Member

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    It is a really bad picture....
     
  7. waltky

    waltky Well-Known Member

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    Granny says, "Dat's right...

    ... dat's whats wrong with dis country...

    ... dem rich folks ain't payin' their fair share o' taxes."
    :fart:
    Warren Buffett: Stop Coddling the Super-Rich
    August 14, 2011 - OUR leaders have asked for “shared sacrifice.” But when they did the asking, they spared me. I checked with my mega-rich friends to learn what pain they were expecting. They, too, were left untouched.
     
  8. Wildjoker5

    Wildjoker5 Well-Known Member

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    Are you really ignoring a lot of data or just ignorant to who actually pays the bulk of tax revenues in this country?

    over 50% of "working" Americans don't pay any taxes and even most of them get more money back than they put in that year.

    The top 2% of earners in the US pays 45% of the tax revenues while only making 35% of the income. But if you add in ALL of the other 98% of Americans, sure they pay 55% while earning 65% of the income. Looks like the rich do pay their fair share. Or is it not "fair" till they are living paycheck to paycheck like everyone else that chooses to have their bills so high?
     
  9. Shiva_TD

    Shiva_TD Progressive Libertarian Past Donor

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    When addressing income taxes this is false. 38% of American households pay no income taxes and many of those actually recieve refunds for taxes they never paid.

    It is true that the tax rates were much higher in the past and more deductions were also included in the tax laws. A deduction isn't a "loophole" but is merely a consideration related to what should be allowed as a deduction. For example all interest on all loans used to be tax deductable. That deduction was eliminated for everthing but real estate today. It wasn't a "loophole" for the wealthy because even an average person buying a car with a car loan received the deduction and many of the wealthy didn't borrow to by a new car even if it was a Ferrari. They paid cash and received no deductions.

    So the higher tax rate did exist along with far more deductions and when the tax rate was reduced the deductions were also eliminated. This did not result in the wealthy paying less and the wealthy still pay a higher percentage in income taxes than anyone that has a lower net income.
     
  10. Roy L

    Roy L Banned

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    Don't be silly. You are just refusing to know the facts it identifies because you are an apologist for rich, greedy, privileged parasites. It definitely means something, and something quite important, even though the information is presented in a confusing way.
     
  11. Daybreaker

    Daybreaker Well-Known Member

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    The myth came from wealthy people. It's not like poor people control the media.
     
  12. tehduder

    tehduder New Member

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    Well...the rates under FDR, Truman and Eisenhower were 90%+, Kennedy cut the rate to 65%, LBJ kept that rate flat, and it was 70% under Nixon and Carter, Reagan cut and increased taxes multiple times but the increases mostly targeted the middle class so the average tax rate for the wealthy under him was 28%, Bush Sr and Clinton increased it to about 40%, then Bush Jr cut it to 34% and that rate has continued under Obama.

    It was true there were more ordinary deductions utilized in those times, but you didn't have the multitude of other ridiculous loopholes tailored specifically for the wealthiest and when consumer confidence and patriotism in general was at a high, putting your money in tax shelters would've been seen by most as comparable to treason. Abused deductions and loopholes have led to over a $1 trillion in lost revenue over the past decade, money which we really need considering the President which started put us in two unfunded wars and gave us an unfunded prescription drug mandate.
     
  13. Wildjoker5

    Wildjoker5 Well-Known Member

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    Or pay taxes.
     
  14. Serfin' USA

    Serfin' USA Well-Known Member

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    ...it must be all those liberals...
     
  15. Shiva_TD

    Shiva_TD Progressive Libertarian Past Donor

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    What is often ignored is the political fact that income taxes are as much about members of Congress being re-elected as they are about raising revenue. Every tax deduction (loophole) was lobbied for and those that introduced those deductions received massive campaign contributions for doing so. Basically they were bought and paid for. Politicans elected to Congress love income taxes because there's so much money they can squeeze out of them in campaign contributions.
     
  16. Wildjoker5

    Wildjoker5 Well-Known Member

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    So...? Yay for Paul Ryans plan to get rid of Loop-holes and raise revenues that every GOP house member voted for?
     
  17. tehduder

    tehduder New Member

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    Of course...our mess of a tax code was brought to us by our own politicians, and this is my problem with the Dems. Aside from them habitually 180ing on things we voted them in for (like helping put an end to our unconstitutional War on Drugs which President Obama has laughed off, or completely flip-flopping on campaign finance reform), they claim to support shared austerity and raising revenues but they lobby for the same loopholes, so the only people in the top 2% that are paying taxes are those making 250-a couple million.
     
  18. BuckNaked

    BuckNaked New Member

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    The rich/elites that own the government.
     
  19. BuckNaked

    BuckNaked New Member

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    You can't take what they don't have. Even if you whine a lot about it.
     
  20. Iriemon

    Iriemon Well-Known Member Past Donor

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    Your data is false.
     
  21. Shiva_TD

    Shiva_TD Progressive Libertarian Past Donor

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    It was and is all smoke and mirrors and always will be. Most of the "loopholes" actually have valid reasons for their existance and most will not be changed in reality.

    For example, many complain about income that is being earned outside of the United States not being subject to US income taxes. That is really a valid reason for not taxing that income. It wasn't earned here and the US government doesn't have a ligitimate claim on any of that income. Many misrepresent this as being a loophole because hundreds of millions of dollars are being held in these "off shore" accounts but we really don't have a ligitimate claim on that money to begin with.
     
  22. Wildjoker5

    Wildjoker5 Well-Known Member

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    You mean the money that they make or are given? They have money, just cause they spend it on things they can't afford doesn't mean they "don't have it". Actually, they do get taxed, and live all year without it. Just at the end of the year they get it ALL or MORE THAN ALL of it back. If they weren't getting such a huge return or expecting this return, maybe they stop running up huge credit bill expecting to pay them off with the refund check. Their paychecks are taxed just like the rest of ours, now the government needs to stop redistrobuting the wealth through tax credits and deductions that the poor live without all year long.
     
  23. P. Lotor

    P. Lotor Banned Past Donor

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    One, two, three, four...
    Hrmm!
    One, two

    Let me tell you how it will be;
    There's one for you, nineteen for me.
    'Cause I’m the taxman,
    Yeah, I’m the taxman.

    Should five per cent appear too small,
    Be thankful I don't take it all.
    'Cause I’m the taxman,
    Yeah, I’m the taxman.

    if you drive a car - I’ll tax the street;
    if you try to sit - I’ll tax your seat;
    if you get too cold - I’ll tax the heat;
    if you take a walk - I'll tax your feet.

    Taxman!

    'Cause I’m the taxman,
    Yeah, I’m the taxman.

    Don't ask me what I want it for,
    If you don't want to pay some more.
    'Cause I’m the taxman,
    Yeah, I’m the taxman.

    Now my advice for those who die,
    Declare the pennies on your eyes.
    'Cause I’m the taxman,
    Yeah, I’m the taxman.

    And you're working for no one but me.

    Taxman!
     
  24. Iriemon

    Iriemon Well-Known Member Past Donor

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    That might have been appropriate in the 1950s. The good old days.
     
  25. Wildjoker5

    Wildjoker5 Well-Known Member

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    And you have proof that shows differently?
     

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