Government wants its foot in the door, then it is off to the races.Fed income tax started in 1913,1% above $3000. It went HIGHER marginal rate quickly

[Votto]

Other countries are expecting it and knowing we won't will bring about the collapse.




Funny how so many argue against this but then support what will bring it about.

I think most have resigned themselves to trying to simply buy more time before the inevitable as every person and everything man puts his hand to eventually fails and dies.

Even their precious AI and data centers.

 

[Toddsterpatriot]

Sixteenth Amendment to the United States Constitution - Wikipedia

en.wikipedia.org

The Fed now wants an EV tax of $150, because you are not buying gas and paying those taxes. Forget that you are using electricity to charge your EV and are paying those taxes.

How quickly will that tax be $5000 per year?

It took about 30 years for the marginal FEDERAL INCOME TAX to go from 1% to MUCH HIGHER.

Government just wants it toe in the door, then it quickly moves into your bedroom.

It took about 30 years for the marginal FEDERAL INCOME TAX to go from 1% to MUCH HIGHER.

The top rate in 1913 was 7%.
It jumped to 67% in 1917 and 77% in 1918.

 

[ColonelAngus]

How are you an anarchist and support big government? That makes zero sense.
Just because people call themselves something doesnt mean its true.
Look at MAGA. They call themselves conservatives but they support socialism, wars, big spending, foreign aid etc.
Same with liberals. They call themselves that, but then they believe in the exact opposite of what liberalism is. Such as a huge fed govt.
Those statists always rape words.

Posters to this board claim to be anarchists, but they are pro big government.

Of course it is antithetical to reality. Of course it is an oxymoron.

These people are just run of the mill communists looking to conceal their true identity and intentions.

Like THE BLM LEADERS STEALING MILLIONS OF DOLLARS OF DONATIONS AND BUYING HOMES IN WHITE NEIGHBORHOODS IN CALIFORNIA.

 

[Votto]

It took about 30 years for the marginal FEDERAL INCOME TAX to go from 1% to MUCH HIGHER.

The top rate in 1913 was 7%.
It jumped to 67% in 1917 and 77% in 1918.

Give a Leftist an inch, and they will take your whole freak'in country and the world!!

 

[task0778]

No, no it doesn't.

Eventually the Republic will just fold as there is not enough wealth in the entire world to pay down that much debt.

The American people have been conned all these years.

If enough investors believe that the interest on the national debt gets so high that enough investors believe the risk of not getting paid off, that's when they stop buying enough new debt to service existing debt. And that is when this country will face a real fiscal nightmare. Will the gov't begin to monetize the debt by printing more new money, in concert with a very large QE Fed policy? That means the quick rise of inflation that by that time will already be too high, and that is when everything turns to shit. But what else can the politicians do? Balance the budget? LOL, they'll try everything before that.

At the present time, foreign entities are not reducing their exposure to US Gov't securities but that could change. I understand, what's more secure that a US Treasury note back by the US Gov't? Today nothing is, but do not assume that will always be the case. Don't know, maybe a new bitcoin kind of currency, a basket of securities from several gov'ts. The idea has been floated more than once but didn't fly. That could change though, and then what?

We'll be in undiscovered territory when it comes to that point. Nobody knows what the fallout will be, but it's hard to see it otherwise than a total chaotic catastrophe. I do believe in one thing though, the way out requires the sound fiscal principle of spending less that you take in; guys, there's no way in hell you can pay down the debt if you continue to outspend your revenue. If you don't manage to do that, then eventually your economy collapses.

 

[pknopp]

I think most have resigned themselves to trying to simply buy more time before the inevitable as every person and everything man puts his hand to eventually fails and dies.

Even their precious AI and data centers.

One would think if people were doing this they would know that continuing to waste billions on stupid wars will only bring it about sooner.

No, I think for far too many their hate has become all consuming.

 

[Dont Taz Me Bro]

Yep, the fraudsters in Congress stole $40 trillion from the US taxpayers and now they want to increase your taxes to pay for their corruption.

How was it stolen when you all voted for it?

 

[Care4all]

A/I Gemini

Apparently there was no Fed prior to 1913.

It is NEVER enough money for the GUBMINT.

MAMDANI WAS FLEXING THAT HE “BALANCED THE BUDGET”.

NYC GOT A BAILOUT FROM THE STATE GOVERNMENT!

PEOPLE LIVING IN SCHENECTADY PAID NYC TAXES!

FYI NYC pays more in taxes than they get back from the state...

A/I

New York City does not just pay for itself; it heavily subsidizes the rest of New York State.
According to a joint study by the CUNY Institute for State & Local Governance and The New School, New York City generates about 54.5% of the entire state's tax revenue. However, the city only receives back about 40.5% of the state's operating expenditures.
Because NYC generates roughly 60% of the state's Gross Domestic Product (GDP), its tax dollars create a multi-billion dollar surplus that directly funds infrastructure, schools, and public services in upstate and suburban New York.

 

[Toddsterpatriot]

A/I Gemini

FYI NYC pays more in taxes than they get back from the state...

A/I

New York City does not just pay for itself; it heavily subsidizes the rest of New York State.
According to a joint study by the CUNY Institute for State & Local Governance and The New School, New York City generates about 54.5% of the entire state's tax revenue. However, the city only receives back about 40.5% of the state's operating expenditures.
Because NYC generates roughly 60% of the state's Gross Domestic Product (GDP), its tax dollars create a multi-billion dollar surplus that directly funds infrastructure, schools, and public services in upstate and suburban New York.

FYI NYC pays more in taxes than they get back from the state...

NYC pays New York state taxes?
Or NYC residents pay New York state taxes?

 

[Eman623]

Nobody ever paid anywhere close to 95%.

One month after the bombing of Pearl Harbor, the generous [Joe] Louis gave his entire $65,200 fee (about $700,000 in today’s money) from a fight to the Naval Relief Fund. Less than three months later, he gave his $45,882 purse from another fight (about $500,000 today) to the Army Relief Fund. Ever the patriot, he halted his lucrative boxing career and enlisted as a private, earning only $21 a month.

Imagine Joe's surprise when the IRS demanded he pay taxes on those donations. Louis spent the rest of his life in tax debt, eventually reaching $500K with penalties and interest. They even seized the $667 Louis' mother left him when she died.

Joe Louis vs. the IRS

www.mackinac.org

 

[ColonelAngus]

The point is THE GOVERNMENT NEVER HAS ENOUGH MONEY.

THE 1% FEDERAL INCOME TAX ON $3000 OR MORE GOT SIGNIFICANTLY HIGHER VERY QUICKLY.

Some people in California pay over 50% of their income in TAXES.

CRAZY,

 

[ColonelAngus]

All the stuff pushed by commies like Mamdani will increase.

Commie areas want a “ONE TIME WEALTH TAX”. 5% of your total wealth “ONE TIME”.

I GUARANTEE THAT IF THIS OCCURS…..IT WILL NOT BE ONE TIME!

 

[Independent thinker]

Sixteenth Amendment to the United States Constitution - Wikipedia

en.wikipedia.org

The Fed now wants an EV tax of $150, because you are not buying gas and paying those taxes. Forget that you are using electricity to charge your EV and are paying those taxes.

How quickly will that tax be $5000 per year?

It took about 30 years for the marginal FEDERAL INCOME TAX to go from 1% to MUCH HIGHER.

Government just wants it toe in the door, then it quickly moves into your bedroom.

That is their MO. Give tax breaks and incentives to everyone who buys an EV so that everyone has an EV and then up the taxes on EV's because they are now the only game in town.

 

[Admiral Rockwell Tory]

It took about 30 years for the marginal FEDERAL INCOME TAX to go from 1% to MUCH HIGHER.

The top rate in 1913 was 7%.
It jumped to 67% in 1917 and 77% in 1918.

How many hundreds of people paid that rate?