Gold Supporting Member
- Apr 15, 2016
- Reaction score
- Tallahassee, FL
Your ignorance of our taxes at the time is not surprising.What the fucks were paying before Reagan. That would be their fair share.How much more should the "rich" pay and who do you classify as "rich"?
Specifically, what is a "fair share"?
You see, when they paid their fair share, we had enough money for schools, highways, and we were even able to have a space program.
You have a bit of a foggy memory about the Eisenhower Days. Either that or you have gotten your talking points from the DailyKOS who left out a few..."minor" details.
I have done this before but I’ll do it again for your edification, from (1963). It will do for our purposes. Anyone (a single person) earning $4,000 per year or less paid income tax at the rate of 20%. Adjusted for inflation, that would be $31,800.00 per year. That translates to everyone earning LESS THAN $31,800 PER YEAR TODAY WOULD PAY 20% INCOME TAX. Gosh, that sure would eliminate that 48% that pay no income tax today! Way to go!
As for the top rate of your beloved 91% in 1963, that was paid by those earning over $400,000.00 Adjusted for inflation, that would be $3,186,770.00 today. Do you want to tell us that 1% of the nation earns of 3.2 MILLION PER YEAR? Really?
In the same year, employees paid 3.625% for Social Security and the employer paid nothing. Not quite the 15.2% of today.
Now, do you really want to go back to those rates? Are you aware of the long, long list of deductions in 1963? All interest on everything and the list goes on.
Federal Income Tax Brackets for Tax Year 1962 (Filed April 1963)
FICA & SECA Tax Rates
The Inflation Calculator