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

Discussion in 'Politics' started by U2Edge, Jan 4, 2019.

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

  1. Yes

  2. No

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  1. The Purge
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    The Purge Gold Member

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    We wants her to be your candidate for Messiah!....we"s cants wait!!!!

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    Next she will tell us the AGE LIMIT to run is Unconditional!
     
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    Last edited: Jan 11, 2019
  2. toomuchtime_
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    toomuchtime_ Gold Member

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    It's a stupid question. Potentially everyone's income would effected by this tax increase. All the wealth in America is created by the private sector, not by the government, and nearly all funds that finance the private sector are from private investors, and the more money individuals have, the more they can afford to invest, so when we take investment capital out of the hands of private investors and give it to politicians and bureaucrats we are reducing investment in the private sector economy and that will reduce economic growth and the number of jobs created by the economy. Therefore, question is not if this tax increase will effect your income but by how much it will effect your income.
     
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  3. Cecilie1200
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    Cecilie1200 Platinum Member

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    Quote and respond to one line, and pretend the entire rest of the thread doesn't exist because you know you can't answer and you're too big a dishonest pussy to admit it Dope.

    Thank you for your surrender. You may run along and drive your imaginary Internet Maserati.
     
  4. U2Edge
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    U2Edge Gold Member

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    No, but by increasing the top federal tax rate + the strong economic growth during the Clinton years, allowed for four consecutive years of surpluses. The point is that having the top federal tax rate at 40% does not hurt economic growth. Regardless of what GDP growth is, you'll bring in more revenue with a top federal tax rate of 40% and it won't have a negative impact on the economy.
     
  5. CrusaderFrank
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    CrusaderFrank Diamond Member

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    "Give me your homeless...."
     
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  6. CrusaderFrank
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    CrusaderFrank Diamond Member

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    I have to explain that Jesus was directing his fellow Jews back to the Lord? What's next, why is the sky blue or water wet?
     
  7. U2Edge
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    U2Edge Gold Member

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    He means 70% of real GDP growth comes from consumer spending. Some put it even higher at 80%. A tax cut on lower class, and middle class income increases consumer spending. A tax cut on the rich has no impact on consumer spending.

    That's why Bush's cut of the top federal tax rate from 40% to 35% did not produce any economic growth.
     
  8. danielpalos
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    danielpalos Diamond Member

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    He should have said, Raise the minimum wage to raise more tax revenue and solve for unemployment with simple compensation.
     
  9. Oddball
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    Oddball Unobtanium Member Supporting Member

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    Liar.
     
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  10. U2Edge
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    U2Edge Gold Member

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    Most of them or all of them are likely lower class and middle class. Their incomes are in the $30,000 to $80,000 range. You want their tax rates to stay the same or be cut, because they typically spend their extra money which increases real GDP growth. So increasing their taxes to 70% would destroy the economy.

    The rich though do not change their consumer spending regardless of their tax rate. That is why it is safe for the economy to tax them at a much higher rate than the middle class. The country then benefits from all the extra revenue that is generated from the much higher tax rate on the rich.

    The tax rate is not about what is "FAIR" to a particular individual. Its about what is best for economic growth and raising revenue to support the country. The fact is, every American benefits when the country is strong. You have a stronger country when economic growth and revenue collection are both maximized.
     

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