Effective tax rates on the top 1% for 100 years

[Zoom-boing]

How well did those corporations do at running them before we had to bail them out?

Who bailed them out? Government. Now the government wants to take hold of 'non-financial' type businesses. Lather, rinse, repeat.

They should not have been bailed out to begin with. They should have declared bankruptcy, restructured, etc. If that didn't work and they ended up failing, so be it. Something better would have evolved and hopefully those individuals would have learned from the mistakes of the previous ones.

 

[Zoom-boing]

So, what do "the rich" pay in federal income taxes? Nothing, right? That, at least, is what most people think. And Democratic presidential candidate Barack Obama wants to raise the top marginal rate for "the rich" -- known in some quarters as "job creators."

A recent poll commissioned by Investor's Business Daily asked, in effect, "What share do you think the rich pay?" Their findings? Most people are completely clueless about the amount the rich actually do pay.

First, the data. The top 5 percent (those making more than $153,542 -- the group whose taxes Obama seeks to raise) pay 60 percent of all federal income taxes. The rich (aka the top 1 percent of income earners, those making more than $388,806 a year), according to the IRS, pay 40 percent of all federal income taxes. The top 1 percent's taxes comprise 17 percent of the federal government's revenue from all sources, including corporate taxes, excise taxes, social insurance and retirement receipts.

RealClearPolitics - Articles - In Defense of the Rich

 

[Gunny]

Look at the chart and soak it in.

When you have gotten a feel for what the top 1% have paid during our history think about the years everyone thinks were the Glory years...the 50s.... then think of the years that lead to horrible economic messes.....Right before the 1929 crash.......the years right before this mess............... Now go look at the tax rates in each of those periods.


See the pattern?

Yep. Your chicken little alarmism is stale.

 

[Kalam]

The 50s was a great time according to all.......

All straight white Protestants...

 

[Chris]

Outstanding thread, Truthmatters. The truth hurts.

Bush's tax cuts for the rich are part of the reason we are in the mess we are in. That and the invasion of Iraq. We need to raise the top rates back to 39% and get the fuck out of Iraq.

 

[Jon]

Raising taxes on the rich is one thing. Raising taxes on the rich AND phasing out their deductions is another.

But, it's not even about raising taxes. I don't care how much taxes Americans pay. For all I care, we could all pay 50% of our income in taxes, if it were necessary to run this country. What I can't understand is why we're raising spending by more than we're raising taxes, AND we're only raising taxes on one income group when the programs being supported are supposed to help the entire country.

If we wouldn't waste so much money on unnecessary programs, everyone could pay less in taxes.

 

[Chris]

Raising taxes on the rich is one thing. Raising taxes on the rich AND phasing out their deductions is another.

But, it's not even about raising taxes. I don't care how much taxes Americans pay. For all I care, we could all pay 50% of our income in taxes, if it were necessary to run this country. What I can't understand is why we're raising spending by more than we're raising taxes, AND we're only raising taxes on one income group when the programs being supported are supposed to help the entire country.

If we wouldn't waste so much money on unnecessary programs, everyone could pay less in taxes.

Something we can all agree on.

However, some things that the right opposes could save us a lot of money...universal healthcare, green energy, cutting the miltary budget, etc.....

 

[Skull Pilot]

Raising taxes on the rich is one thing. Raising taxes on the rich AND phasing out their deductions is another.

But, it's not even about raising taxes. I don't care how much taxes Americans pay. For all I care, we could all pay 50% of our income in taxes, if it were necessary to run this country. What I can't understand is why we're raising spending by more than we're raising taxes, AND we're only raising taxes on one income group when the programs being supported are supposed to help the entire country.

If we wouldn't waste so much money on unnecessary programs, everyone could pay less in taxes.

Something we can all agree on.

However, some things that the right opposes could save us a lot of money...universal healthcare, green energy, cutting the miltary budget, etc.....

Something i won't agree on is the fucking government confiscating 50% of my earnings.

And really green energy won't be saving you any money especially if Obama's cap and trade tax gets passed. The price of everything will go up and there will be less money available to invest in alternative energy sources. You tell me how when your electric bill nearly doubles and the cost of everything that is produced, and transported rises because of the cap and rape tax how you'll be saving money?

 

[Gunny]

Outstanding thread, Truthmatters. The truth hurts.

Bush's tax cuts for the rich are part of the reason we are in the mess we are in. That and the invasion of Iraq. We need to raise the top rates back to 39% and get the fuck out of Iraq.

Oh this is good. Truthmatters endorsed by the other quack that comes as closest to her screwballery as anyone.

 

[Gunny]

Raising taxes on the rich is one thing. Raising taxes on the rich AND phasing out their deductions is another.

But, it's not even about raising taxes. I don't care how much taxes Americans pay. For all I care, we could all pay 50% of our income in taxes, if it were necessary to run this country. What I can't understand is why we're raising spending by more than we're raising taxes, AND we're only raising taxes on one income group when the programs being supported are supposed to help the entire country.

If we wouldn't waste so much money on unnecessary programs, everyone could pay less in taxes.

Bingo.

 

[Truthmatters]

I would say wars for Haliburtons bottem line were a waste of money.

Note that under you guys Hero Reagan it was 50% for years.

 

[Gunny]

I would say wars for Haliburtons bottem line were a waste of money.

Note that under you guys Hero Reagan it was 50% for years.

Surely you can deflect better than that? We never fought a war for Haliburton, I am not a "you guys", and Reagan was not my hero.

And you're STILL a class bigot, proponent of theft, and a ditz.

 

[editec]

Economic bubbles seem to happen every time the superwealthy and merely wealthy have a lot of money (in relation to the working classes).

Everybody seems to understand inflation in the demand side, (that's when those evil unions make the poor industrialist pay lgood salaries) but apparently having inflation on the supply side is beyond most of our abilities to understand.

That's why we keep having enormous run up in the Stock market prices then devastating crashes in the market.

Now if the super wealthy were just super wealthy and that didn't effect the rest of our economy, then really who would care?

But that isn't what happens when income distributions get wildly out of whack.

Now we know, the NEO-Cons set out to bankrupt this nation by spending spending spending and tax breaking, tax breaking, tax breaking and we have the National debts to prove it, too.

They hoped that by bankrupting the nation they could FORCE us to give up those social services they SO object to.

But these same nitwits (and the even bigger nitwits who support them) still don't seem to understand that society is a CONTRACT between classes.

So when one of those classes cannot make a living then the society as whole will go down.

As ours appears to be right now.

Nice work Neo-Cons!

You broke America.

 

[Chris]

Gunny's hero.....

 

[Truthmatters]

I would say wars for Haliburtons bottem line were a waste of money.

Note that under you guys Hero Reagan it was 50% for years.

Surely you can deflect better than that? We never fought a war for Haliburton, I am not a "you guys", and Reagan was not my hero.

And you're STILL a class bigot, proponent of theft, and a ditz.

You are not the only one here huh?


Are you now going to pretend the right doesnt idiloze Reagan?

grow the fuck up.


The only people who gained anything in this war was Haliburton and blackwater, it was fought for them because it sure as hell was not fought with the American peoples best interest in mind.

 

[Gunny]

Gunny's hero.....

Sure thing, moron. No mortal man is my hero. Clear that up for your befuddled mind any?

 

[Truthmatters]

Reagan had a 50% tax on them for Years.

I think they can survive a 39% tax rate.

 

[Gunny]

I would say wars for Haliburtons bottem line were a waste of money.

Note that under you guys Hero Reagan it was 50% for years.

Surely you can deflect better than that? We never fought a war for Haliburton, I am not a "you guys", and Reagan was not my hero.

And you're STILL a class bigot, proponent of theft, and a ditz.

You are not the only one here huh?


Are you now going to pretend the right doesnt idiloze Reagan?

grow the fuck up.


The only people who gained anything in this war was Haliburton and blackwater, it was fought for them because it sure as hell was not fought with the American peoples best interest in mind.

No, TM, YOU grow the fuck up. You come on here prattling 2nd grade bullshit and even post shit yourself that disproves your accusation.

If you can't get a fucking clue as to what's actually going on in the world, and can't even read and comprehend at the 2nd grade level where your own damned post contradicts your lying-ass accusations, then please don't share.

That crap about Haliburton and Blackwater is nothing BUT delusional bullshit.

When you want to be taken seriously, try posting something rational for once, you fucking moron.

 

[Gunny]

Reagan had a 50% tax on them for Years.

I think they can survive a 39% tax rate.

I think it's not your place to say. Your opinion isn't worth shit. And you are a class bigot and thief.

 

[Truthmatters]

how does this post disprove anything Ive said?