The People Are Taxed To Much!

Discussion in 'Politics' started by ihopehefails, Feb 1, 2010.

  1. ihopehefails
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    ihopehefails BANNED

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    This is the first generation that I can think of that actually faces the possibility of living a lower living standard than their parents. The reasons for this are many but has anyone ever thought that the cost of government is so large that the taxes we pay for it are consuming everything we earn?

    Add up the cost of all taxes and you will see that the percent of the average person's income is substantial and ask yourself is all the social programs that those pay for and the benefits that they might give balance out the net affect of taking almost (i'm guessing here) 30% of our income. Wouldn't there be a greater positive effect on poverty if we reduced our total tax burden to 10% (or less)?
     
  2. Truthmatters
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    Its due to a shrinking middle class which was grown by the FDR programs.


    The right has worked really hard to diminish the middle class in favor of the 1%.
     
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  3. Luissa
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    Luissa Annoying Customer Supporting Member

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    In Never Never Land, maybe!
     
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  4. VaYank5150
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    VaYank5150 Gold Member

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    Fair enough. Where do we cut first? And how much?
     
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  5. Wry Catcher
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    Wry Catcher Platinum Member

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    Simple solutions to complex issues may have unintended consequences. For example, George W. Bush pushed through a tax cut which increased the federal deficit, on which we pay interest. Where is the cost benefit to the taxpayer in that?
    I'd rather we pay as we go, as suggested by Obama. But an earmark to one member of congress is a critical need to another (and an emotion based argument in the final anaylysis).
    btw, many of the taxes we pay are local and state, and don't forget to include fees charged for many things which once were free.
     
  6. EriktheRed
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    EriktheRed Eh...

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    That usually is the rub, isn't it?
     
  7. Titanic Sailor
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    Titanic Sailor Senior Member

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    I think every Democrat should have their taxation raised, and pay for the big government they love so much. The rest of the nation get a 50% reduction in taxation.
     
  8. ihopehefails
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    ihopehefails BANNED

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    We can start by eliminating all income taxes.
     
  9. ihopehefails
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    ihopehefails BANNED

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    I'm trying to figure where you get your info from because if you actually propose taxing people less then wouldn't that mean that more money in the pockets of those that are being taxed? Its like saying taking no action is an action that harms someone else and I can't see how taking no action can be called as an action that actually harms other people.

    Perhaps it is what good communist should say?
     
  10. Political Junky
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    Political Junky Gold Member

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    Daily Kos: State of the Nation

    52.38% top marginal tax rate: Eisenhower, King of the Socialists
    by mbzoltan


    Thu Oct 30, 2008 at 10:54:53 AM PST

    Only in 1988 and 1989 (Ronald Reagan's final 13 months in office) was the TOP MARGINAL rate down to 28%. It was 69.13% when he went into office, and went from 69.13%-50% from 1981-1986, then 38.5%, then 28%.

    Barack Obama has proposed a top marginal tax rate of 39.6%, which was the rate under Bill Clinton. So with the exception of 13 months of Reagan's time in office, Obama's rate is lower than Reagan's.

    Furthermore, really look at those rates. Take the Tax Policy Center's historical top marginal tax rate chart. Under previous Republicans:

    Taft: (1909-1913)--income tax began in 1913 at 7% for top rate
    Harding: (1921-1923): 56%-73%
    Coolidge (1923-1929): 24%-56%
    Hoover (1929-1933): 24%-63% (63% after Roosevelt took power)
    Eisenhower (1953-1961): 91-92%
    Nixon (1969-1974): 70-77%
    Ford: (1974-1977): 70%
    Reagan (1981-1989): 28%-69.13%
    Bush I: (1989-1993): 28%-39.6% (39.6% after Clinton took power)

    Low taxes for the TOP RATES are the exception even under Republican presidents, not the norm.

    Under all Republican presidents since federal income tax began, NOT including the years where the Republican transfered power to a Democrat (i.e the Republican was only in office for 1-3 months at the beginning of the year), the top marginal tax rate average was 52.38%, a full 12%+ HIGHER than Barack Obama's proposal. I took the 49 years during which the Republican was in power for the majority of the time, added the tax rates, and divided by 49 to get the figure of 52.38%.

    Barack Obama wants to raise the top marginal tax rate to Bill Clinton's former rate, which is 12%+ LOWER than the average for all Republican presidents combined.

    People get confused about tax brackets as well. 39.6% tax rates aren't going to apply to ALL income--just to the top tax bracket income.

    This handy tax bracket form helps you compute your "effective" tax rate--the percentage of your total income that you actually pay in taxes, considering the first $8,025 is taxed at 10%, the next $8,026-$32,550 is taxed at 15%, and so on.

    You do not see the TOP marginal tax bracket--currently 35%, proposed to be 39.6% under Barack Obama--until you reach $357,701 in income.

    Everything under $357,701 is taxed between 10% and 33%.

    Food for thought. 52.38%.
     
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