A Serious Question for Liberals - Tax Rates

Discussion in 'Politics' started by tooAlive, Dec 3, 2012.

  1. tooAlive
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    tooAlive Silver Member

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    Whenever there's talk about tax rates and what the "fair share" should be for the wealthy to pay, there's always a few liberals that bring out the argument of how top marginal tax rates were as high as 94% back in 1944. This is true. They were also 91% back in 1946, and and 77% in 1964.

    Now, assuming people actually payed those taxes back in the day. Here's my question;

    Lets say we raised the top marginal tax rate for all income above $250k to 94%, just like they were back in the day.

    If we have someone already earning $250k, what is their incentive to increase their earnings $100k for a total of $350k, if they'd only get see $6,000 of it?


    Essentially only getting to keep 6 cents of every dollar earned over $250k.

    Again, lets say the top marginal tax rate only affected income over $500k. What incentive would a person have to earn $600k, when in reality, they'd only see $6,000 of their newly earned income?
     
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    Last edited: Dec 3, 2012
  2. BlindBoo
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    BlindBoo Gold Member

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    Back in the days of 90+% tax rates the deductions were much more lucrative as well.
     
  3. DiamondDave
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    DiamondDave Army Vet

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    But I thought the deductions, exceptions, loopholes, etc for the rich were bad?? (and they were more more lenient then)... and I thought it was bad when people find ways to skirt the rates??

    So.. do those supporting this bullshit high rates want them with or without the various loopholes??
     
  4. tooAlive
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    tooAlive Silver Member

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    And they say Mitt Romney was a flip-flopper..
     
  5. Politico
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    Politico Gold Member

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    Comparing 1935 to now is ridiculous. Not even close to the same situation. Taxes obviously should not be 90%. But all the deductions people can take should be eliminated.
     
  6. Ravi
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    Ravi Diamond Member

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    Who has asked to raise tax rates that high? Not to mention that back then the deductions were much greater and the wealthy could deduct almost any "expense" that they pleased.

    You really should do a little studying before you start talking out of your ass.
     
  7. tooAlive
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    tooAlive Silver Member

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    There are plenty of liberals on here who have mentioned the '40's top tax rates and implied that people did just fine with them.

    If you haven't, then this post wasn't aimed toward you.
     
  8. KissMy
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    KissMy Free Breast Exam

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    We do not need a high marginal rate that encourages the rich to skirt paying taxes. We must have tax enforcement on the rich. The rich must actually pay a larger rate than the poor & middle class or they are benefiting from the tax system & burdening the rest of us.
     
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  9. tooAlive
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    tooAlive Silver Member

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    20% of the wealthiest Americans are already paying 70% of all federal taxes. What burden are you talking about?
     
  10. Ravi
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    Ravi Diamond Member

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    That's something different then. With all the deductions, people back then DID do fine with those rates. Because no one actually paid them.

    It doesn't matter if I've said it or not, you are passing off falsehoods as truths.

    Yet another reason Republicans lost the election.
     
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