Effective tax rates on the top 1% for 100 years

[manu1959]

lets just tax the rich till they are poor.............

no wait....lets just pay everyone 150k per year no matter what they do or who they are......

ah the american dream......start penniless and make 150k per year....

of course if we all make 150k the government will have to take 2/3 because there are no more rich or successful corporations to tax......

or you can fly to cuba and see this system in action.....

of course the ruling class (politicians and party members) are doing just fine....

anyone her ever lived in the soviet union before the collapse....

 

[editec]

The workers (of every class, INCLUDING THE SUPERWEALTHY) are the source of all wealth, folks.


But when the sueprwealthy are rewarded for their contribution in excess, the same thing happens...

they invest on the supply side, while the demand side is going down since the demand side isn't making enough to BUY enough.

Meanwhile, in order to get the demand side enough money to buy stuff, the CREDIT game starts.

Eventually many americans are borrowing just to keep their heads above water.

And those borrowing Americans always think that things will get better so they'll be able to catch up, but since they're being GOUGED for credit, they cannot.

Then the market tanks and everybody wonders why.

Idiots!

Your assessment fails to mention that the demand side borrowed to live above their means, not within them.

No, it didn't.

Eventually many americans are borrowing just to keep their heads above water.

And those borrowing Americans always think that things will get better so they'll be able to catch up, but since they're being GOUGED for credit, they cannot.

What you are apparently failing to understand is that people initially start living at their means, then inflation combined with flagging wages put them in a position where they find themslves living above their means.

Since they're optismists (most of us are after all) they think that things will improve when in fact the working classes have been losing purchaing power since 1969.

If your salary is beating inflation you're fine.

But if it is consistenly not beasting inflation (and here I mean REAL inflation, not the fiction the government keeps posting) then you're going to get screwed.

You can downsize your life only so far.

But since many people are set up in structured debts for their mortgages and so forth, they cannot EASILY downsize their costs of living.

If that hasn't been the case for you?

Hey, lucky you!

 

[Truthmatters]

Like I said facts mean nothing to them.

 

[Jon]

Its the big mistakes that caused this not the mistakes of the little guy.

The little guys mistakes could have been absorbed if the big guys had the right rules keeping them from gouging the little guy.

Typical Democratic response. You're okay with the little guys screwing up because it's up to the rest to cover their asses.

Bullshit. We're all responsible here, and we should all pay for it.

 

[manu1959]

Like I said facts mean nothing to them.

talking to yourself again......

 

[Jon]

What you are apparently failing to understand is that people initially start living at their means, then inflation combined with flagging wages put them in a position where they find themslves living above their means.

Since they're optismists (most of us are after all) they think that things will improve when in fact the working classes have been losing purchaing power since 1969.

If your salary is beating inflation you're fine.

But if it is consistenly not beasting inflation (and here I mean REAL inflation, not the fiction the government keeps posting) then you're going to get screwed.

You can downsize your life only so far.

But since many people are set up in structured debts for their mortgages and so forth, they cannot EASILY downsize their costs of living.

If that hasn't been the case for you?

Hey, lucky you!

Again, you're passing the buck. People began to live above their means, period. THAT was their fault.

 

[Truthmatters]

So you are going to claim that that is the cause of this mess?

 

[Jon]

So you are going to claim that that is the cause of this mess?

One of many causes, yes. I'm not naive or ignorant enough to blame any one event, person, or group of people. This mess is the result of mistakes by all of America, not just one party or one class of people.

 

[manu1959]

who was in charge of the system that allowed this to happen.....

 

[Jon]

who was in charge of the system that allowed this to happen.....

Many people. It happened over the course of many years.

Besides, playing the blame game gets us nowhere. That's what Obama is doing now. He's crying about how he inherited this mess and yadda yadda yadda. The blame game is for children. If we want to get through this, we stop looking back and we start looking forward. Unfortunately, with this current spending frenzy, the future looks pretty bleak too.

 

[manu1959]

who was in charge of the system that allowed this to happen.....

Many people. It happened over the course of many years.

Besides, playing the blame game gets us nowhere. That's what Obama is doing now. He's crying about how he inherited this mess and yadda yadda yadda. The blame game is for children. If we want to get through this, we stop looking back and we start looking forward. Unfortunately, with this current spending frenzy, the future looks pretty bleak too.

i agree....which is why i keep saying it....there were a series of decissions made over the past 3-4 decades which set things in motion.....no one as far as i can tell did anything to stop it.....in fact as far as i can tell politicians only tossed more fuel on the fire.....

that siad.....all i see now is more fuel being tossed on the fire.....

the logic that bush fucked all this up so we are going to spend even more money than he did and not really change any of the decission that put us where we are is only compounding the stupidity....

 

[Truthmatters]

So you are going to claim that that is the cause of this mess?

One of many causes, yes. I'm not naive or ignorant enough to blame any one event, person, or group of people. This mess is the result of mistakes by all of America, not just one party or one class of people.

I did NOTHING to add to this problem.

I warned it was coming, it was many on the right who refused to listen and or act to stop it.

 

[manu1959]

So you are going to claim that that is the cause of this mess?

One of many causes, yes. I'm not naive or ignorant enough to blame any one event, person, or group of people. This mess is the result of mistakes by all of America, not just one party or one class of people.

I did NOTHING to add to this problem.

I warned it was coming, it was many on the right who refused to listen and or act to stop it.

there were many on the left who refused to listen....there were presidents on the left that added to the problem by signing into law rules which aig and others abided by which contributed to this mess....

but this post of your above any i have every read.....tells it all about you.....

you accept no responsibility for any of this.....i would imagine from where you stand .... you have never been wrong.....about anything ....ever....and neither has YOUR party.....

 

[Truthmatters]

Bullshit.

I have calle BC an asshole for signing it.

It was a republican idea and was written and championed by Rs for years.

Yes dems voted for it and should not have, they were fooled by the Rs and believed Gramm knew what he was talking about.


Deregulation is a repbulican pushed idea.

 

[driveby]

So you are going to claim that that is the cause of this mess?

One of many causes, yes. I'm not naive or ignorant enough to blame any one event, person, or group of people. This mess is the result of mistakes by all of America, not just one party or one class of people.

I did NOTHING to add to this problem.

I warned it was coming, it was many on the right who refused to listen and or act to stop it.

Ok Paul Revere, why didn't you warn us that Obama and Pelosi were going to be huge fuck ups ? ......

 

[GHook93]

they pay all kinds of taxes on purchases also.

The 1% do not work.

They earn by investment on the WORK of the rest of this country.

They are like the fat flea on the dog.

They dont help him they live off him.

Sometimes the Dog bites the flea off.

So now people with money investing in business and projects that provide jobs is a bad thing? So you would be happier if these rich bastard didn't invest their millions and sat on it? Amazing!

 

[Truthmatters]

NO Ghook ,

You just cant seem to grasp it can you?

They make money off our work and that is fine with me.

When I get mad at them is when they create a full blown disaster out of our economy for power and money.

If they dissapeared tomarrow this country would survive and a new 1% would emerge.

You seem to think we would blow away and die without them.

I think they will continue to get even richer with a 50% tax on their asses just like they did under Reagan.

 

[Gunny]

they pay all kinds of taxes on purchases also.

The 1% do not work.

They earn by investment on the WORK of the rest of this country.

They are like the fat flea on the dog.

They dont help him they live off him.

Sometimes the Dog bites the flea off.

So now people with money investing in business and projects that provide jobs is a bad thing? So you would be happier if these rich bastard didn't invest their millions and sat on it? Amazing!

TM is one of those folks that just doesn't know what time of day it is. She's a class bigot. She's willing to steal from those who earn to pay her bills. It's as simple as that.

And you make a PERFECT point. The wealthy have been hoarding their money ever since the election instead of investing it which has caused new construction to dry up. But TM won't feel sorry for you until you are on the sidewalk with nothing and a burden to society then she'll demand the wealthy get taxed even more so you can suck on Big Brother's tit.

Never mind the fact you could support yourself before she and her ilk got ahold of things.

 

[GHook93]

The workers (of every class, INCLUDING THE SUPERWEALTHY) are the source of all wealth, folks.

WRONG the workers (which I fall into) contribute to the wealth! The superwealthy got there by starting a company that took off or taking over a company that took off so the working class can have jobs! Yes there are some people who inherit the money and are as lazy as they can be, but someone down their blood-line had to start the business that got them the money. Folks you never want to prohibit or discourage innovation. That was the real killa of the USSR!

But when the sueprwealthy are rewarded for their contribution in excess, the same thing happens...

The owner is always going to make the most, since they are the ones that put in the risk in and OWN the company. Once the company takes off and becomes the cash cow don't blame the owner for cashing in on his company.

Here is a perfect example. A highschool buddy of mine's dad came over to America when he was a teenager. His dad died and his mother came to Chicago where she had a little family. They were penniless. He didn't go to highschool, rather he worked in carpentry and became a master of it. At 22 he started his own construction company with his 2 cousins and 3 young brothers. They put their sweat, blood and tears into this company and after 10 years it was a cash cow! 30 yrs all 6 of the partners are now millionaires. All of them are still the owners, but they do very little now but keep the supervisors honest, collect checks and play golf. Are you going to blame them? They took the risk in the beginning to get where they are today!

they invest on the supply side, while the demand side is going down since the demand side isn't making enough to BUY enough
Meanwhile, in order to get the demand side enough money to buy stuff, the CREDIT game starts.

Eventually many americans are borrowing just to keep their heads above water.

And those borrowing Americans always think that things will get better so they'll be able to catch up, but since they're being GOUGED for credit, they cannot.

Then the market tanks and everybody wonders why.

Idiots!

That is such backwards thinking, that I am surprised you don't tie your shoelaces together more often!

 

[GHook93]

NO Ghook ,

You just cant seem to grasp it can you?

They make money off our work and that is fine with me.

When I get mad at them is when they create a full blown disaster out of our economy for power and money.

If they dissapeared tomarrow this country would survive and a new 1% would emerge.

You seem to think we would blow away and die without them.

I think they will continue to get even richer with a 50% tax on their asses just like they did under Reagan.

You nail the top 1% they move and NO ONE replaces them! On a small scale my home town of Chicago is seeing it! It was reported on the news that we are 10% employment and have had more corporation move out of Chicago and IL than any other place in the Midwest including MI, OH and IN! Why? Because they tax us to death! We have a 10% sales taxe! The highest in the country. A 12% unprepared food sales tax, also the highest in the country. One of the highest gas taxes in the country. Some of the highest property taxes in the country. And its about to get worse. They are about to raise the corporate and INCOME tax putting us close to the top on both. They are going to make the top 10%-20% leave the state, along with the corporations! People and businesses won't come in to replace them! Now who gets hurt the most? The working class assholes, like myself!