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The income tax rate jumped to 63% on 1% in 1932! Could this be the Depression Era.
A tax rate of over 50% (peaking at 94%) is nothing less than highway robbery. Don't you feel guilty that you support such injustice?
Great Depression was caused by tax increase and Big Gubbamint spending
1925 to 1929 the 1% tax rate was 25 , much lower than it had been for years.
Top US Marginal Income Tax Rates, 1913--2003 (TruthAndPolitics.org)
Take a look at this chart and its numbers.
When we have lowered the tax rate on the 1% in this country what have they done to thank us??????
They fucked our economy.
LOL, did your mom drop you on your head when you were a kid? The chart you linked doesn't support your assertion.
It's amazing how you government worshiping drones yip and yap in support of everyone paying as much tithes as possible to your politician gods, except of course yourselves.
I take it niether of you actually looked at the chart of the years we gave big tax cuts to the 1%.
I also note neither of you could remark on the Facts presented.
Tell me what the rate was in the years leading up to the great depression?
Top US Marginal Income Tax Rates, 1913--2003 (TruthAndPolitics.org)
Take a look at this chart and its numbers.
When we have lowered the tax rate on the 1% in this country what have they done to thank us??????
They fucked our economy.
LOL, did your mom drop you on your head when you were a kid? The chart you linked doesn't support your assertion.
It's amazing how you government worshiping drones yip and yap in support of everyone paying as much tithes as possible to your politician gods, except of course yourselves.
Truthmatters is a classic example of the state education system.... Not taught HOW to think, they are taught WHAT to think.
Top US Marginal Income Tax Rates, 1913--2003 (TruthAndPolitics.org)
Take a look at this chart and its numbers.
When we have lowered the tax rate on the 1% in this country what have they done to thank us??????
They fucked our economy.
LOL, did your mom drop you on your head when you were a kid? The chart you linked doesn't support your assertion.
It's amazing how you government worshiping drones yip and yap in support of everyone paying as much tithes as possible to your politician gods, except of course yourselves.
Truthmatters is a classic example of the state education system.... Not taught HOW to think, they are taught WHAT to think.
I take it niether of you actually looked at the chart of the years we gave big tax cuts to the 1%.
I also note neither of you could remark on the Facts presented.
Tell me what the rate was in the years leading up to the great depression?
Truth.... so what percentage of their money should the government take? Give us a percentage of their total income?
1) Lower tax rates do not mean less tax revenue.
The tax cuts of the 1920s
Tax rates were slashed dramatically during the 1920s, dropping from over 70 percent to less than 25 percent. What happened? Personal income tax revenues increased substantially during the 1920s, despite the reduction in rates. Revenues rose from $719 million in 1921 to $1164 million in 1928, an increase of more than 61 percent.
According to then-Treasury Secretary Andrew Mellon:
The history of taxation shows that taxes which are inherently excessive are not paid. The high rates inevitably put pressure upon the taxpayer to withdraw his capital from productive business and invest it in tax-exempt securities or to find other lawful methods of avoiding the realization of taxable income. The result is that the sources of taxation are drying up; wealth is failing to carry its share of the tax burden; and capital is being diverted into channels which yield neither revenue to the Government nor profit to the people.
The Kennedy tax cuts
President Hoover dramatically increased tax rates in the 1930s and President Roosevelt compounded the damage by pushing marginal tax rates to more than 90 percent. Recognizing that high tax rates were hindering the economy, President Kennedy proposed across-the-board tax rate reductions that reduced the top tax rate from more than 90 percent down to 70 percent. What happened? Tax revenues climbed from $94 billion in 1961 to $153 billion in 1968, an increase of 62 percent (33 percent after adjusting for inflation).
According to President John F. Kennedy:
Our true choice is not between tax reduction, on the one hand, and the avoidance of large Federal deficits on the other. It is increasingly clear that no matter what party is in power, so long as our national security needs keep rising, an economy hampered by restrictive tax rates will never produce enough revenues to balance our budget just as it will never produce enough jobs or enough profits In short, it is a paradoxical truth that tax rates are too high today and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now.
The Reagan tax cuts
Thanks to bracket creep, the inflation of the 1970s pushed millions of taxpayers into higher tax brackets even though their inflation-adjusted incomes were not rising. To help offset this tax increase and also to improve incentives to work, save, and invest, President Reagan proposed sweeping tax rate reductions during the 1980s. What happened? Total tax revenues climbed by 99.4 percent during the 1980s, and the results are even more impressive when looking at what happened to personal income tax revenues. Once the economy received an unambiguous tax cut in January 1983, income tax revenues climbed dramatically, increasing by more than 54 percent by 1989 (28 percent after adjusting for inflation).
According to then-U.S. Representative Jack Kemp (R-NY), one of the chief architects of the Reagan tax cuts:
At some point, additional taxes so discourage the activity being taxed, such as working or investing, that they yield less revenue rather than more. There are, after all, two rates that yield the same amount of revenue: high tax rates on low production, or low rates on high production.
LOL, did your mom drop you on your head when you were a kid? The chart you linked doesn't support your assertion.
It's amazing how you government worshiping drones yip and yap in support of everyone paying as much tithes as possible to your politician gods, except of course yourselves.
Truthmatters is a classic example of the state education system.... Not taught HOW to think, they are taught WHAT to think.
More like a classic example of progressive brain washing if you ask me, I beginning to suspect he/she is a graduate of the Khmer Rouge re-education camps or something.
Top US Marginal Income Tax Rates, 1913--2003 (TruthAndPolitics.org)
Take a look at this chart and its numbers.
When we have lowered the tax rate on the 1% in this country what have they done to thank us??????
They fucked our economy.
LOL, did your mom drop you on your head when you were a kid? The chart you linked doesn't support your assertion.
It's amazing how you government worshiping drones yip and yap in support of everyone paying as much tithes as possible to your politician gods, except of course yourselves.
Truthmatters is a classic example of the state education system.... Not taught HOW to think, they are taught WHAT to think.
Obama and the Dems needs to insist on a top rate of 91% again.
I take it niether of you actually looked at the chart of the years we gave big tax cuts to the 1%.
I also note neither of you could remark on the Facts presented.
Tell me what the rate was in the years leading up to the great depression?
Truth.... so what percentage of their money should the government take? Give us a percentage of their total income?
And then explain this
The Historical Lessons of Lower Tax Rates
1) Lower tax rates do not mean less tax revenue.
The tax cuts of the 1920s
Tax rates were slashed dramatically during the 1920s, dropping from over 70 percent to less than 25 percent. What happened? Personal income tax revenues increased substantially during the 1920s, despite the reduction in rates. Revenues rose from $719 million in 1921 to $1164 million in 1928, an increase of more than 61 percent.
According to then-Treasury Secretary Andrew Mellon:
The history of taxation shows that taxes which are inherently excessive are not paid. The high rates inevitably put pressure upon the taxpayer to withdraw his capital from productive business and invest it in tax-exempt securities or to find other lawful methods of avoiding the realization of taxable income. The result is that the sources of taxation are drying up; wealth is failing to carry its share of the tax burden; and capital is being diverted into channels which yield neither revenue to the Government nor profit to the people.
The Kennedy tax cuts
President Hoover dramatically increased tax rates in the 1930s and President Roosevelt compounded the damage by pushing marginal tax rates to more than 90 percent. Recognizing that high tax rates were hindering the economy, President Kennedy proposed across-the-board tax rate reductions that reduced the top tax rate from more than 90 percent down to 70 percent. What happened? Tax revenues climbed from $94 billion in 1961 to $153 billion in 1968, an increase of 62 percent (33 percent after adjusting for inflation).
According to President John F. Kennedy:
Our true choice is not between tax reduction, on the one hand, and the avoidance of large Federal deficits on the other. It is increasingly clear that no matter what party is in power, so long as our national security needs keep rising, an economy hampered by restrictive tax rates will never produce enough revenues to balance our budget just as it will never produce enough jobs or enough profits In short, it is a paradoxical truth that tax rates are too high today and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now.
The Reagan tax cuts
Thanks to bracket creep, the inflation of the 1970s pushed millions of taxpayers into higher tax brackets even though their inflation-adjusted incomes were not rising. To help offset this tax increase and also to improve incentives to work, save, and invest, President Reagan proposed sweeping tax rate reductions during the 1980s. What happened? Total tax revenues climbed by 99.4 percent during the 1980s, and the results are even more impressive when looking at what happened to personal income tax revenues. Once the economy received an unambiguous tax cut in January 1983, income tax revenues climbed dramatically, increasing by more than 54 percent by 1989 (28 percent after adjusting for inflation).
According to then-U.S. Representative Jack Kemp (R-NY), one of the chief architects of the Reagan tax cuts:
At some point, additional taxes so discourage the activity being taxed, such as working or investing, that they yield less revenue rather than more. There are, after all, two rates that yield the same amount of revenue: high tax rates on low production, or low rates on high production.
Please TM tell me how can a tax cut increase revenue?
And what would you proposed tax hikes do to revenue?
LOL, did your mom drop you on your head when you were a kid? The chart you linked doesn't support your assertion.
It's amazing how you government worshiping drones yip and yap in support of everyone paying as much tithes as possible to your politician gods, except of course yourselves.
Truthmatters is a classic example of the state education system.... Not taught HOW to think, they are taught WHAT to think.
I looked through the series of tubes and found an interesting subject to discuss and you have offered NOTHING but personal insults.
I think you need resemble your own remarks little girl.
Truth.... so what percentage of their money should the government take? Give us a percentage of their total income?
And then explain this
The Historical Lessons of Lower Tax Rates
1) Lower tax rates do not mean less tax revenue.
The tax cuts of the 1920s
Tax rates were slashed dramatically during the 1920s, dropping from over 70 percent to less than 25 percent. What happened? Personal income tax revenues increased substantially during the 1920s, despite the reduction in rates. Revenues rose from $719 million in 1921 to $1164 million in 1928, an increase of more than 61 percent.
According to then-Treasury Secretary Andrew Mellon:
The history of taxation shows that taxes which are inherently excessive are not paid. The high rates inevitably put pressure upon the taxpayer to withdraw his capital from productive business and invest it in tax-exempt securities or to find other lawful methods of avoiding the realization of taxable income. The result is that the sources of taxation are drying up; wealth is failing to carry its share of the tax burden; and capital is being diverted into channels which yield neither revenue to the Government nor profit to the people.
The Kennedy tax cuts
President Hoover dramatically increased tax rates in the 1930s and President Roosevelt compounded the damage by pushing marginal tax rates to more than 90 percent. Recognizing that high tax rates were hindering the economy, President Kennedy proposed across-the-board tax rate reductions that reduced the top tax rate from more than 90 percent down to 70 percent. What happened? Tax revenues climbed from $94 billion in 1961 to $153 billion in 1968, an increase of 62 percent (33 percent after adjusting for inflation).
According to President John F. Kennedy:
Our true choice is not between tax reduction, on the one hand, and the avoidance of large Federal deficits on the other. It is increasingly clear that no matter what party is in power, so long as our national security needs keep rising, an economy hampered by restrictive tax rates will never produce enough revenues to balance our budget just as it will never produce enough jobs or enough profits… In short, it is a paradoxical truth that tax rates are too high today and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now.
The Reagan tax cuts
Thanks to “bracket creep,” the inflation of the 1970s pushed millions of taxpayers into higher tax brackets even though their inflation-adjusted incomes were not rising. To help offset this tax increase and also to improve incentives to work, save, and invest, President Reagan proposed sweeping tax rate reductions during the 1980s. What happened? Total tax revenues climbed by 99.4 percent during the 1980s, and the results are even more impressive when looking at what happened to personal income tax revenues. Once the economy received an unambiguous tax cut in January 1983, income tax revenues climbed dramatically, increasing by more than 54 percent by 1989 (28 percent after adjusting for inflation).
According to then-U.S. Representative Jack Kemp (R-NY), one of the chief architects of the Reagan tax cuts:
At some point, additional taxes so discourage the activity being taxed, such as working or investing, that they yield less revenue rather than more. There are, after all, two rates that yield the same amount of revenue: high tax rates on low production, or low rates on high production.
Please TM tell me how can a tax cut increase revenue?
And what would you proposed tax hikes do to revenue?
I gave you historical numbers and you give me a biased sites bullshit in return?
Look at the rates under Reagan
Greatest era of peacetime expansion in human history.
Truthmatters is a classic example of the state education system.... Not taught HOW to think, they are taught WHAT to think.
More like a classic example of progressive brain washing if you ask me, I beginning to suspect he/she is a graduate of the Khmer Rouge re-education camps or something.
Go back to meisers and find an argument to refute this baby
Look at the rates under Reagan
You do realize that under Reagan America (BY AMERICANS) produced 28% of the world's goods in 1987. That is the highest percentage that America (or anyone) has ever produced of the world's goods.
Reagan was also responsible for producing 20 million jobs and reversed the worst economic President's Presidency!
The laffer curve....read about it...it only works up to a certain degree on tax cutsAnd then explain this
The Historical Lessons of Lower Tax Rates
Please TM tell me how can a tax cut increase revenue?
And what would you proposed tax hikes do to revenue?
I gave you historical numbers and you give me a biased sites bullshit in return?
The numbers come from government data.
The facts are the facts.
Those tax cuts resulted in increased government tax revenue.
So answer the question.
Why did those tax cuts increase government tax revenue and what would a huge tax hike do to tax revenue?
I'd say pretty damn well!
The laffer curve....read about it...it only works up to a certain degree on tax cutsI gave you historical numbers and you give me a biased sites bullshit in return?
The numbers come from government data.
The facts are the facts.
Those tax cuts resulted in increased government tax revenue.
So answer the question.
Why did those tax cuts increase government tax revenue and what would a huge tax hike do to tax revenue?
How did the tax hike during the Clinton era do?
