Check this chart of top marginal taxes for decades

[rdean]

What is wrong with right wingers?

Probably the same thing that is wrong with left wingers.

If ALL of the nation's money is concentrated in the hands of only 1% of the population, then no one else has any money to spend. Result? Depression.

I suggest a couple of courses in economics. There's not a finite pile of money laying around on which 1% of the population has dibs.

The super rich don't make nearly the jobs the right thinks they do. They have been completely bamboozled.

Some of the "super rich" invest great sums of money in innovation and new products or ideas. Some of them own companies that employ large numers of people. Did you get your job from a poor person?

Even you said only "some".

 

[rdean]

How much of Bush's 2.4 trillion dollar tax cut was paid for by either "borrowing or cutting benefits"?

a. 10%

b. 50%

c. 100%

d. 0%

How much of the Bush 3 trillion dollar wars was paid for with borrowed money?

a. 10%

b. 50%

c. 100%

d. 0%

 

[Avatar4321]

What is wrong with right wingers? If ALL of the nation's money is concentrated in the hands of only 1% of the population, then no one else has any money to spend. Result? Depression. It's that "common sense" they claim they have over education. The super rich don't make nearly the jobs the right thinks they do. They have been completely bamboozled.

So instead of having money in the hands of the people, no matter how many, you'd prefer to have everyones money in the hands of political elitists who don't really care how hard you had to work to make that money and who are willing to spend it on whatever gets them more votes and power?

Id rather see someone like Bill Gates keep his well earned money then the politicians.

 

[Avatar4321]

Our national debt is somewhere around $13 trillion.

At at some piont like all debts it's going to have to be paid off.

What's the plan for that?

That would be why it would be wise to cut taxes and cut spending to pay it off now as well as jump start the economy.

 

[Avatar4321]

Our national debt is somewhere around $13 trillion.

At at some piont like all debts it's going to have to be paid off.

What's the plan for that?

Cut spending, starting with all the subsidy and entitlement programs, foreign aid, pet projects, etc.... have a flat tax rate on every dollar earned by every citizen... figure out what rate will allow us to pay for our required governmental spending plus enough to start paying down the debt... pass a constitutional amendment requiring 80% congressional approval and presidential signing to allow any deficit spending, citing the absolute constitutional authority allowing that spending... every citizen paying for the running of the government and the paying down of the debt that the government has carelessly created

Yeah, it all sounds good but you and I both know that it ain't going to happen.

Why not?

 

[Mr Natural]

Cut spending, starting with all the subsidy and entitlement programs, foreign aid, pet projects, etc.... have a flat tax rate on every dollar earned by every citizen... figure out what rate will allow us to pay for our required governmental spending plus enough to start paying down the debt... pass a constitutional amendment requiring 80% congressional approval and presidential signing to allow any deficit spending, citing the absolute constitutional authority allowing that spending... every citizen paying for the running of the government and the paying down of the debt that the government has carelessly created

Yeah, it all sounds good but you and I both know that it ain't going to happen.

Why not?

Because it requires pain and sacrifice.

And we don't do pain and sacrifice anymore. That's so 1940's.

 

[boedicca]

Note the term available in my question. Just because someone makes more money and has more assets than another does not mean that he has more protection guaranteed by government.

Of course he does. People with more assets have more to protect - try telling your homeowners insurer that you want to pay the same rates as the guy down the street in a half-abandoned mobile home.

Home and property insurance is a privately negotiated transaction, not a constitutional right the government is supposed to defend.

 

[xotoxi]

National Taxpayers Union - History of Federal Individual Income Bottom and Top Bracket Rates

This post falls under #1 on my list of policies.

http://www.usmessageboard.com/the-flame-zone/129899-my-policies.html

Your link violates #1 on your list of policies.

 

[Avatar4321]

Because it requires pain and sacrifice.

And we don't do pain and sacrifice anymore. That's so 1940's.

Yeah, it does.

The pain is coming regardless. We need to do it ourselves so we are just doing chemo instead of amputating the arm.

 

[xotoxi]

Our national debt is somewhere around $13 trillion.

At at some piont like all debts it's going to have to be paid off.

What's the plan for that?

That would be why it would be wise to cut taxes and cut spending to pay it off now as well as jump start the economy.

Cutting spending will help prevent our national debt from increasing, but how does cutting taxes help to pay off the national debt.

Cutting taxes may jumpstart the economy, but none of the money that is generated will work its way to the debt.

 

[Avatar4321]

Our national debt is somewhere around $13 trillion.

At at some piont like all debts it's going to have to be paid off.

What's the plan for that?

That would be why it would be wise to cut taxes and cut spending to pay it off now as well as jump start the economy.

Cutting spending will help prevent our national debt from increasing, but how does cutting taxes help to pay off the national debt.

Cutting taxes may jumpstart the economy, but none of the money that is generated will work its way to the debt.

Increasing revenues by stimulating the economy.

 

[boedicca]

What is wrong with right wingers? If ALL of the nation's money is concentrated in the hands of only 1% of the population, then no one else has any money to spend. Result? Depression. It's that "common sense" they claim they have over education. The super rich don't make nearly the jobs the right thinks they do. They have been completely bamboozled.

Here's the data set, Vlad.

Please show me which year the New Deal wealth redistribution ended the Great Depression

1933: 24.9, 1934: 21.7%, 1935: 20.1%, 1936: 16.9%, 1937: 14.3%, 1938: 19.0%, 1939: 17.2%.

Take your time, I've only been posting it for about 6 weeks and still haven't gotten a defensible answer from anyone

your own evidence shows that the unemployment rate fell by well over 30% during the expansion that started in 1933. Even a fucking hilarious avatar can't change that.

That's not what it says at all. Unemployment decreased, but remained in the teens even as the government spent massive amounts of money. The trend, after improving, started to deteriorate. It was only when the country entered a wartime economy in 1939 that things started to improve. FDR was so worried that the economy would fall back into a recession or depression after the war, that he started on a New Deal Part Deux. Truman pushed that after the war - but Congress refused to pass it and cut taxes instead. Those tax cuts led to a post war expansion.

The End.

 

[boedicca]

National Taxpayers Union - History of Federal Individual Income Bottom and Top Bracket Rates

This post falls under #1 on my list of policies.

http://www.usmessageboard.com/the-flame-zone/129899-my-policies.html

Your link violates #1 on your list of policies.

No it doesn't. I explain why the link is relevant with my statement "This post falls under #1 on my list of policies". If I had just posted the link without the comment, then your observation would be correct.

 

[boedicca]

Cutting spending will help prevent our national debt from increasing, but how does cutting taxes help to pay off the national debt.

Cutting taxes may jumpstart the economy, but none of the money that is generated will work its way to the debt.

Cutting taxes leads to higher economic growth which increases tax receipts over all. That's how cutting taxes helps pay off the debt. Of course, this won't work unless spending is also cut.

 

[Avorysuds]

Top US Marginal Income Tax Rates, 1913--2003 (TruthAndPolitics.org)


What pattern jumps out at you?

Harding and Reagan's tax cuts generated economic growth while Hoover and FDR's tax increases created the Great Depression

Can you tell the class how increasing taxes in 1933, the start of the fastest four years of economic growth in modern history, could be considered "creating" a great depression that started 4 yrs prior?

I would think it has something to do with massive Government money being moved around. You seem to think that just because money was being printed that 35% unemployement is good.

 

[Mr Natural]

Cutting spending will help prevent our national debt from increasing, but how does cutting taxes help to pay off the national debt.

Cutting taxes may jumpstart the economy, but none of the money that is generated will work its way to the debt.

Cutting taxes leads to higher economic growth which increases tax receipts over all. That's how cutting taxes helps pay off the debt. Of course, this won't work unless spending is also cut.

No, were way too far in the hole to rely on some failed economic theory of the past. It's time to cut spending and raise taxes.

It's time for some sacrifice and pain.

 

[boedicca]

Many of us in the private sector have already endured years of sacrifice and pain. Before we take on any more, it's time to downsize government significantly.

 

[Bern80]

Cutting spending will help prevent our national debt from increasing, but how does cutting taxes help to pay off the national debt.

Cutting taxes may jumpstart the economy, but none of the money that is generated will work its way to the debt.

Cutting taxes leads to higher economic growth which increases tax receipts over all. That's how cutting taxes helps pay off the debt. Of course, this won't work unless spending is also cut.

No, were way too far in the hole to rely on some failed economic theory of the past. It's time to cut spending and raise taxes.

It's time for some sacrifice and pain.

Don't you get it? Taxes are like crack to politicians. Do you give an addict more crack in the hopes that they'll get their problem under control? Of Course not. Why the fuck does government NEED more money? To pay for the debt. Those fucks are the one's that put us their in the first place and now you're going to tell me I'm the one that has to pay for their fiscal irresponsibility? FUCK THAT. On top of that taking away the incentives to be successful is just plain stupid economic reasoning.

 

[Mr Natural]

Cutting taxes leads to higher economic growth which increases tax receipts over all. That's how cutting taxes helps pay off the debt. Of course, this won't work unless spending is also cut.

No, were way too far in the hole to rely on some failed economic theory of the past. It's time to cut spending and raise taxes.

It's time for some sacrifice and pain.

Don't you get it? Taxes are like crack to politicians. Do you give an addict more crack in the hopes that they'll get their problem under control? Of Course not. Why the fuck does government NEED more money? On top of that taking away the incentives to be successful is just plain stupid economic reasoning.

To discharge this massive national debt we've accumulated.

 

[lizzie]

No, were way too far in the hole to rely on some failed economic theory of the past. It's time to cut spending and raise taxes.

It's time for some sacrifice and pain.

Yes, we're way too far in the hole, and some sacrifice and pain will be necessary, but I doubt most people have the stomach for the kind of sacrifice and pain which will be necessary. A large number of people are going to have to buck up, grow up, and get to taking care of themselves.

Will raising taxes do the trick? Not according to a study done by the Tax Policy Center on myths of taxation:

3. Higher taxes could eliminate the federal deficit.
Washington spends more than it takes in through tax revenues, resulting in a projected budget deficit of almost $1.35 trillion in 2010, or 9 percent of GDP, according to the Congressional Budget Office. Couldn't we get rid of the deficit by raising taxes?
No. A study we conducted at the Tax Policy Center found that Washington would have to raise taxes by almost 40 percent to reduce -- not eliminate, just reduce -- the deficit to 3 percent of our GDP, the 2015 goal the Obama administration set in its 2011 budget. That tax boost would mean the lowest income tax rate would jump from 10 to nearly 14 percent, and the top rate from 35 to 48 percent.
What if we raised taxes only on families with couples making more than $250,000 a year and on individuals making more than $200,000? The top two income tax rates would have to more than double, with the top rate hitting almost 77 percent, to get the deficit down to 3 percent

Source:5 Myths about your taxes