Why Not Raise the Top Tax Bracket to 90%?

[KMAN]

If higher taxes on the rich is the answer to fix our economy... Why not raise the top tax rate back to 90%?

Shoot, just the taxes from Hollywood would make a huge dent in our deficit.

 

[Mr. President]

Because they earned their money and they should keep it. The same way you dont want to pay 90%

 

[Tech_Esq]

Because they earned their money and they should keep it. The same way you dont want to pay 90%

Unless I miss my guess, he is engaging in sarcasm to make a point. The social democrats are supposed to come back and say something smart

 

[WillowTree]

If higher taxes on the rich is the answer to fix our economy... Why not raise the top tax rate back to 90%?

Shoot, just the taxes from Hollywood would make a huge dent in our deficit.

hollywood is demcwats, and we all know democwats don't pay taxes..

 

[Mr. President]

At least until they get elected discovered and forced to pay

 

[WillowTree]

Because they earned their money and they should keep it. The same way you dont want to pay 90%

Unless I miss my guess, he is engaging in sarcasm to make a point. The social democrats are supposed to come back and say something smart

oxymoronic thought right there..

 

[sealybobo]

Because they earned their money and they should keep it. The same way you dont want to pay 90%

Can we compromise?

Clearly the way both parties spend, our government needs additional money.

Now you can't approve of borrowing from China and putting it on the debt, can you?

So where are we going to come up with the money to pay off what we have already spent?

You think your taxes should be raised? That'll dramatically affect your prosperity. In my opinion, you and I already get taxed too much.

So why not roll back the tax cuts back to what they were when Reagan was in office? Rich people were still rich back then. And the economy was good so that middle class people could become rich.

Are you in favor of Oligarchy?

Oligarchy (Greek Ὀλιγαρχία, Oligarkhía) is a form of government where power effectively rests with a small elite segment of society distinguished by royalty, wealth, family, military influence or religious hegemony.

We're heading that way buddy with your free market capitalism no regulations blabla

 

[mattskramer]

If higher taxes on the rich is the answer to fix our economy... Why not raise the top tax rate back to 90%?

Shoot, just the taxes from Hollywood would make a huge dent in our deficit.

Are you just being silly. Practically everything is relative. Why not lower it to .5%?

 

[DiamondDave]

You won't see the entitlement junkies and the "raise the tax" idiots asking to raise taxes if you would have an equal % tax on all citizens on every dollar earned (with the elimination of tax loopholes)..

They will whine and complain about "fair share" for others.. as long as it is fair share that does not include them

You would also see them call for reduction in wasteful spending and handouts if they actually had to pay the same rates as everyone else... but for now, they will not complain about it because it is coming out of someone else's pockets

 

[NOBama]

If higher taxes on the rich is the answer to fix our economy... Why not raise the top tax rate back to 90%?

Shoot, just the taxes from Hollywood would make a huge dent in our deficit.

Because if they do that, they know that 90% of the 1% of the people your talking about will move their companies abroad and leave this country to fin for itself. Plus, you'll have to watch foreign movies for the rest of your life because all those actors being talked about above, who act like they like what you’re suggesting would be living next to the 90% of the 1% of the people who left this country to fin for itself.

That's why.

 

[sealybobo]

You won't see the entitlement junkies and the "raise the tax" idiots asking to raise taxes if you would have an equal % tax on all citizens on every dollar earned (with the elimination of tax loopholes)..

They will whine and complain about "fair share" for others.. as long as it is fair share that does not include them

You would also see them call for reduction in wasteful spending and handouts if they actually had to pay the same rates as everyone else... but for now, they will not complain about it because it is coming out of someone else's pockets

All the great minds have discussed doing this, and Republicans had an opportunity to do this, and now the Democrats have a chance, and NONE OF THEM seem to want to do it. They seem to like the progressive tax system.

That's why.


PS. If you add up all the gas taxes, school taxes, income taxes, property, sales, etc taxes, middle class Americans pay enough in taxes. Get that thru your thick skull.

So where do we get the rest that we need for this country to operate smoothly and for all the Defense spending you insist on?

Should we,

a. Get it from the rich or
b. Borrow from china and just double the debt because you don't want to raise anyones taxes.


Sorry, your party spends too much. Raise our taxes anymore or allow the oil companies to gouge us and the economy will go into a Depression.

But the rich will still be rich when we raise their taxes.

Paying taxes is as American as Apple Pie.

Now cry about paying taxes you unpatriotic "real American".

 

[Iriemon]

If higher taxes on the rich is the answer to fix our economy... Why not raise the top tax rate back to 90%?

Shoot, just the taxes from Hollywood would make a huge dent in our deficit.

Higher taxes may not be the fix for the economy, but they would be fix for the deficits.

The "greatest generation" did pay top marginal rates of up to 91% in the 1950s when they were working down (relatively) the WWII debt, so you are correct that there is precendent for your suggestion.

The "pass the buck" generation has, during 3 of the last 4 administrations (excluding the current one) paid taxes that were too low for the spending, resulting in trillions of dollars of debt.

Without getting sidetracked into an argument about how progressive the taxes should be, we don't need a 90% top tax rate to pay our bills -- yet.

In 2000, a top marginal rate of just under 40% was sufficient (tho just barely) to meet spending requirements and the Govt had a surplus.

Since then, $5 trillion more debt has been incurred (with its interest requirement), as well as costly buildups in military spending, wars, and prescription drugs. 40% is no longer sufficient. Without doing the calcs, we probably need a 50% top marginal rate at this point.

If the Govt continues on a course of deficit financing, a 90% top rate may in fact be something not avoidable in the future.

That is the "gift" the pass the buck generation has left for future Americans for sake of their tax rates as low as 28 and 35%. The option for low tax rates like this, or even 40-50%, won't be available for future Americans unless something happens like wholesale elimination of benefit programs like medicare and SS.

Good luck getting the pass the buck generation to agree to that.

 

[Indiana Oracle]

Why not take it all? That would at least let everyone get down to business.

 

[DiamondDave]

Why not take it all? That would at least let everyone get down to business.

Well.. you would not see the extreme lefties on here complain

And a lot of it comes right back to the "selective equality" which they stand for... instead of equal % burden, they want extra burden on those who earn more, and handouts to themselves... it's easier to support handouts and waste when it is someone else's money...
And of course calling for higher taxes, instead of lesser spending and getting the govt out of areas it should not be in... because it is fun to spend when it's not your money

Thank God I have the 2 idiots above you on the ignore list.. I can just imagine the same repetitive bullshit

 

[Iriemon]

Why not take it all? That would at least let everyone get down to business.

Because if the Govt took it all folks would have no incentive to work or produce.

 

[Iriemon]

Why not take it all? That would at least let everyone get down to business.

Well.. you would not see the extreme lefties on here complain

I don't know if I qualify as an "extreme lefty" but I would certainly complain and loudly.

Thank God I have the 2 idiots above you on the ignore list.. I can just imagine the same repetitive bullshit

Heh heh that prevents the frustration that comes when you are forced to confront the fact that your belief in cherished myths is conclusivley proven to be wrong.

 

[Mr. President]

Because they earned their money and they should keep it. The same way you dont want to pay 90%

Can we compromise?

Clearly the way both parties spend, our government needs additional money.

Now you can't approve of borrowing from China and putting it on the debt, can you?

So where are we going to come up with the money to pay off what we have already spent?

You think your taxes should be raised? That'll dramatically affect your prosperity. In my opinion, you and I already get taxed too much.

So why not roll back the tax cuts back to what they were when Reagan was in office? Rich people were still rich back then. And the economy was good so that middle class people could become rich.

Are you in favor of Oligarchy?

Oligarchy (Greek Ὀλιγαρχία, Oligarkhía) is a form of government where power effectively rests with a small elite segment of society distinguished by royalty, wealth, family, military influence or religious hegemony.

We're heading that way buddy with your free market capitalism no regulations blabla

huh

 

[WillowTree]

if you impatient republicans will just be a little more patient you will see your taxes raised to about 90 percent.. it's coming along with the 60 seat (D) senate..
and what do you get for your taxes,, the chance to die at the hands of the terrorist with sanctimoniosity,, cause you ain't worth saving..

 

[DiamondDave]

I can't wait for the "we had a 90% rate before" argument... all the while failing to remember the deduction rules were MUCH different at that time, wherein the effective rate was still less than 50% (and if I remember correctly, just about where they are now)

 

[Xenophon]

Might as well make it 100%.

BTW, has anyone else noticed they don't even pay lip service anymore to cutting spending?