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gamerfreak
gamerfreak
Joined: Dec 28, 2014
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January 30th, 2019 at 4:43:42 PM permalink
Quote: Steverinos

Top marginal tax rate in the 50's was 91%, back when America was great. Lots of people got rich during the 50s. No cries of socialism. The irony is lost on #MAGA supporters.

It's far past time to redistribute.


LMAO most republicans do not understand mariginal tax rates.

The GOP has their entire working class base convinced that the scary socialists are trying to steal 70% of the $40k they earn each year.
Steverinos
Steverinos
Joined: Jul 6, 2016
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January 30th, 2019 at 4:54:25 PM permalink
They either don't understand marginal tax rates or they are intentionally being dishonest about them. There is no middle ground.

https://twitter.com/SteveScalise/status/1081579535114608640

She never advocated for taxing 70% of your income Steve. Tell the damn truth. Or admit your incompetence.

https://twitter.com/GroverNorquist/status/1081692282477256707

It's hard to believe even Grover Norquist doesn't understand them, right? So if we knows he knows, what's the only other possibility?
RS
RS
Joined: Feb 11, 2014
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Thanks for this post from:
RogerKint
January 30th, 2019 at 5:17:49 PM permalink
Quote: Steverinos

They either don't understand marginal tax rates or they are intentionally being dishonest about them. There is no middle ground.

https://twitter.com/SteveScalise/status/1081579535114608640

She never advocated for taxing 70% of your income Steve. Tell the damn truth. Or admit your incompetence.

https://twitter.com/GroverNorquist/status/1081692282477256707

It's hard to believe even Grover Norquist doesn't understand them, right? So if we knows he knows, what's the only other possibility?


Fact is you (general) would be taxed at a rate of 70% on something. Itís obviously not 70% of your paycheck. And we all damn well know this isnít the Democrats end game. Itís just the start.
cmlotito
cmlotito
Joined: Jun 3, 2013
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January 30th, 2019 at 5:51:15 PM permalink
In the good old days of 70-90% tax rates wasn't there many more loopholes back then then there is now so most people didn't pay that high of a percentage? And when tax rates were lowered many of those loopholes were abolished? If I'm way off please be kind in smacking me down. Thank you.
Dalex64
Dalex64
Joined: Feb 10, 2013
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January 30th, 2019 at 7:17:14 PM permalink
The proposal is to tax at 70% taxable income in excess of 10 million dollars.

From what I could tell, in 2014, the top 1% earned more than 456,000 dollars in adjusted GROSS income (which is greater than their taxable earnings)

What percentage of Americans earn more than 10 million in taxable earnings?
RS
RS
Joined: Feb 11, 2014
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January 30th, 2019 at 7:26:32 PM permalink
Quote: Dalex64

The proposal is to tax at 70% taxable income in excess of 10 million dollars.

From what I could tell, in 2014, the top 1% earned more than 456,000 dollars in adjusted GROSS income (which is greater than their taxable earnings)

What percentage of Americans earn more than 10 million in taxable earnings?


Emphasis mine.

Does it matter? No. Wrong is wrong.
tringlomane
tringlomane
Joined: Aug 25, 2012
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January 30th, 2019 at 7:32:18 PM permalink
Quote: RS

Quote: Dalex64

The proposal is to tax at 70% taxable income in excess of 10 million dollars.

From what I could tell, in 2014, the top 1% earned more than 456,000 dollars in adjusted GROSS income (which is greater than their taxable earnings)

What percentage of Americans earn more than 10 million in taxable earnings?


Emphasis mine.

Does it matter? No. Wrong is wrong.



What's so wrong about a progressive tax system? Would you rather just have a national sales tax and totally screw over the lower and middle class instead? Trump and other multimillionaires would probably have an orgasm over it.
unJon
unJon 
Joined: Jul 1, 2018
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January 30th, 2019 at 7:42:24 PM permalink
Quote: tringlomane

Quote: RS

Quote: Dalex64

The proposal is to tax at 70% taxable income in excess of 10 million dollars.

From what I could tell, in 2014, the top 1% earned more than 456,000 dollars in adjusted GROSS income (which is greater than their taxable earnings)

What percentage of Americans earn more than 10 million in taxable earnings?


Emphasis mine.

Does it matter? No. Wrong is wrong.



What's so wrong about a progressive tax system? Would you rather just have a national sales tax and totally screw over the lower and middle class instead? Trump and other multimillionaires would probably have an orgasm over it.

You are fighting the last war. Global sovereign debt is too high to ever expect it will be paid back. We are living at the frothy end of the worldís biggest ponzi scheme. Future generations will be paying our debts for their entire lifespans or those debts will be defaulted on.

As the best orator in US history said: The war is inevitable.
The race is not always to the swift, nor the battle to the strong; but that is the way to bet.
Dalex64
Dalex64
Joined: Feb 10, 2013
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January 31st, 2019 at 5:36:47 AM permalink
Quote: RS

Quote: Dalex64

The proposal is to tax at 70% taxable income in excess of 10 million dollars.

From what I could tell, in 2014, the top 1% earned more than 456,000 dollars in adjusted GROSS income (which is greater than their taxable earnings)

What percentage of Americans earn more than 10 million in taxable earnings?


Emphasis mine.

Does it matter? No. Wrong is wrong.



The bold bit, about how many it affects, was aimed more to your statement "Fact is you (general) would be taxed at a rate of 70% on something."
I'm not sure exactly what you meant by that, but if only a fraction of 1% is affected, then you (general) would not be taxed at a rate of 70% on anything.
RonC
RonC
Joined: Jan 18, 2010
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January 31st, 2019 at 5:54:21 AM permalink
WEALTH TAX...

So...you start with $50 million in wealth and get $2.5 trillion on money that either already had taxes paid on it or was tax free for some reason. That doesn't raise enough money to fund the taxpayer-funded programs that you want, so where do you go from there? Money that has already been subjected to taxes, or were accumulated (legally) tax free, should not be subjected to additional taxes. When they get those having a million in wealth, how will you feel? Many of us get there over our lifetime...
Last edited by: RonC on Jan 31, 2019

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