Should the United States go back to a top federal tax rate of 70%?

[grainbely]

I think welfare folks should work for the money they receive from taxpayers.

Dont run from your fake conservative economic bullshit. Rich people making windfall profits, millions a year, arent paying for their excessive consumption of economic output. Their businesses arent paying true cost of operation. Its time to pay up. This is just the half of it. The other thing is that your awful policy begs and pleads for trillionaire oligarch overlords buying on a whim massive social and economic changes. You forfeit your freedom and your voice by pursuing such idiotic policy.

 

[JWBooth]

Should the United States go back to a top federal tax rate of 70%?

No, taxation is theft.

 

[grainbely]

how is it moral for any government to confiscate 70% of your INCOME? Remember, income is not even "profit."

Windfall income in large proportion compared to the average is essentially over consumption of the economy itself. They must pay for it. The economy costs money in many ways that are not paid for by those reaping such uneven winnings. Stop spewing weak minded propaganda. If there is EVER a deficit it should be covered by the highest earning bracket. I'd love to do that math for you and shove it down your throat but something tells me you will regurgitate more numskull talking point parables.

 

[Pilot1]

The Federal Government is collecting RECORD TAX REVENUE due to economic expansion, and a very good economy. We don't have a revenue problem, we have a SPENDING problem. Politicians of both parties figured out they can BUY VOTES with YOUR money.

 

[G.T.]

70% is hysterically too high. lol its ridiculous, really.

Its still always good for a laugh to see the amount of kooky message boarders that don't know how tax brackets work, and think that the 70% rate starts at dollar zero and is the rate for the entire wage.

I wont go fish for today's brackets/rates, but it goes like this ya goofs....

Bracket 1 = dollars zero through 10k(guessing), and is taxed @10%

Bracket 2 = dollars 10, 001 through 20k, and is taxed at 12%

etc. etc....

all the way up the brackets.


Making the top rate 70% doesnt mean that all of their dollars earned are taxed at 70%, it means dollars (x-million and one) through the rest of the income....is taxed at 70%, and all the way down the brackets, each segment of their income is taxed at that bracket's (lower) tax rate.


How many more idiots can step forward and declare that theyre idiots, itll be fun to see!

 

[Pilot1]

Taxation on every level is just WAY TOO HIGH. Government SPENDS TOO MUCH. We have record revenue coming into the Federal Government right now due to economic expansion, and a vibrant, growing economy. People are working, but we are dragging them down with high TAXES. It's not just Income Tax, it is the plethora of other taxes everyone pays that are very regressive.

 

[Mac1958]

Should the United States go back to a top federal tax rate of 70%?

It depends on how the money is spent, and what systems are in place to maintain efficiencies.

Unfortunately, the money would be treated like a piggy bank by greedy politicians who want to bring home the bacon for re-election advantage. If you'll excuse the mixed metaphors.

So, a significantly higher top rate might be paired with term limits. This country has issues that must be addressed. That would be an interesting conversation if we could keep the crazies out of it.
.

 

[sparky]

this fits here>



~S~

 

[forkup]

how is it moral for any government to confiscate 70% of your INCOME? Remember, income is not even "profit."

How is it moral for the government to borrow money to give to people who are already wealthy?

 

[JLW]

With a 21 trillion dollar debt it is inevitable that tax rates will rise. Trickle down economics has never worked. 70% tax rate seems over the top, but raising the top marginal rate to between 45 to 50% may be in the offing if the national debt continues to spiral out of control.

 

[sparky]

It's going to have to come from somewhere.......~S~

 

[EverCurious]

I will abandon you nitwits to your socialist graves before I give 70% because you fucks can't get your shit straight and earn money for yourselves or stop fucking blowing money out your asses on dumb unprofitable shit. Me and mine are already paying fucking 70% of the damned bill for the nation, piss off.

 

[Pilot1]

We have RECORD FEDERAL TAX REVENUE coming in right now. Why hurt economic expansion, growth and record employment by raising tax RATES?

 

[Marion Morrison]

Everybody is taxed at around 35%, and that's too much. The government keeps unnecessarily spending up all the tax revenue every year so they can demand more next year. That needs to stop. The government is bloated at least 1/3 more than where it should be.

If you doubt that 35%..Add in state income tax, fuel tax, communications tax, power bill tax..

They tax every damn thing.

 

[Pilot1]

Everybody is taxed at around 35%, and that's too much. The government keeps unnecessarily spending up all the tax revenue every year so they can demand more next year. That needs to stop. The government is bloated at least 1/3 more than where it should be.

If you doubt that 35%..Add in state income tax, fuel tax, communications tax, power bill tax..

They tax every damn thing.

It's more like 50% of your income when you add everything up. Include your Real Estate, and Property Taxes, Sales Taxes, Gasoline Taxes, Utility Taxes, Fed, State, and Local Income Taxes, Tolls, Fees, and Surcharges governments charge for things your taxes should pay for, etc.

 

[Marion Morrison]

Everybody is taxed at around 35%, and that's too much. The government keeps unnecessarily spending up all the tax revenue every year so they can demand more next year. That needs to stop. The government is bloated at least 1/3 more than where it should be.

If you doubt that 35%..Add in state income tax, fuel tax, communications tax, power bill tax..

They tax every damn thing.

It's more like 50% of your income when you add everything up. Include your Real Estate, and Property Taxes, Sales Taxes, Gasoline Taxes, Utility Taxes, Fed, State, and Local Income Taxes, Tolls, Fees, and Surcharges governments charge for things your taxes should pay for, etc.

Yeah, I forgot about license fees, permits, etc..

 

[petro]

how is it moral for any government to confiscate 70% of your INCOME? Remember, income is not even "profit."

OP lost me at more important government revenue.
I call it confiscation.

 

[sparky]

They tax every damn thing.

~S~

 

[Pilot1]

Well the former Governor of Maryland Martin O'Malley, a Far Left Democrat, of course, was able to get a RAIN TAX passed, so I guess anything is possible.

 

[Flash]

Yea right, like more taxation is going to somehow magically make this country more prosperous. At least that is what the Moon Bats think.

Back when we had a 70% tax rate the deductions were such that very few people ever paid at that rate.

Back then the total combined (federal, state and local) cost of government was less than 20% of GDP. Nowadays it is pushing 40%. Everybody paid fewer taxes, even the very rich that had an incremental rate of 70%.

The reason the economy grew so much was not because of the higher taxes at a 70% incremental rate for the very rich but because of the much lower burden on the economy for the cost of government at less than 20% of the GDP.