Putting the highest income rate at 70% as when Reagan took office will solve income ine******y
Apr 29, 2018 12:47:42 #
Reagan's 1981 tax cut lowered the top rate from 70% to 50%. Since then national debt has ballooned and the middle class incomes have gone nowhere. Lets make America great again as it was before Reagan's e******n..
Apr 29, 2018 14:03:05 #
JFlorio
Loc: Seminole Florida
Can't think of a better way to chase wealth out of the country. Especially now days with cheaper labor readily available. You would also need to bring back many deductions that went along with that 70% rate. You would succeed in chasing me out of the country or at least much of my wealth off shore. Another loony idea from a resident OPP loon. Income ine******y will always be present because people are only equal in the eyes of God.
Chocura750 wrote:
Reagan's 1981 tax cut lowered the top rate from 70% to 50%. Since then national debt has ballooned and the middle class incomes have gone nowhere. Lets make America great again as it was before Reagan's e******n..
Apr 29, 2018 14:05:15 #
In 1950 the top tax rate was about 90%. Then the Repubs in Congress got the rate reduced and the really rich got much richer while throwing a pittance to the workers. Some things never change.
Apr 29, 2018 14:06:35 #
JFlorio
Loc: Seminole Florida
Ever tried to get a job from a poor person? Grow up. Pull yourself up and work harder or take a big chance and become an entrepreneur.
MalG wrote:
In 1950 the top tax rate was about 90%. Then the Repubs in Congress got the rate reduced and the really rich got much richer while throwing a pittance to the workers. Some things never change.
Apr 29, 2018 14:48:32 #
MalG wrote:
In 1950 the top tax rate was about 90%. Then the Repubs in Congress got the rate reduced and the really rich got much richer while throwing a pittance to the workers. Some things never change.
With all of the loopholes, deductions, armies of tax lawyers, and accountants do you really believe anybody paid 90%?
Apr 29, 2018 14:49:25 #
JFlorio
Loc: Seminole Florida
archie bunker wrote:
With all of the loopholes, deductions, armies of tax lawyers, and accountants do you really believe anybody paid 90%?
Gd catch Arch. Wasn’t even close.
Apr 29, 2018 14:50:47 #
Since 1981 the wealth of this country owned by the 1% has increased from 17% to 37%, maybe more. What more has to be said?
Apr 29, 2018 14:59:09 #
JFlorio
Loc: Seminole Florida
Chocura750 wrote:
Since 1981 the wealth of this country owned by the 1% has increased from 17% to 37%, maybe more. What more has to be said?
Probably true. You might want to prove it. It’s because of outsourcing manufacturing. Cheaper goods, cheaper labor and less regulations allow the rich to become richer. Now Trump right or wrong wants to punish this system and try to even the playing field. Yet, you lefty’s scream to the high heavens about tariffs or anything else Trump tries to use as a negotiating tool. Just confiscating wealth from the wealthy won’t work. They will move their wealth. Why do you or anyone else have the right to anyone else’s money that you haven’t earned?
Apr 29, 2018 17:58:59 #
The point is reducing income and increasing spending leads to disaster try it it buy a new home and car and quit working same thing.
I think we should hit the rich with a protection tax since the rich don't run and enlist during war time they get a Dr to say they have bone spures
I think we should hit the rich with a protection tax since the rich don't run and enlist during war time they get a Dr to say they have bone spures
Apr 29, 2018 18:21:53 #
Pre Bush cut levels allowed Clinton to produce a balanced budget with a surplus.
Going back to that level, and working the special interest loopholes and write offs that benefit the wealthy to where they pay closer to their actual base rate would knock better than half of the budget deficit off if not more.
Wealthy people and corporations are so opposed to paying taxes they would invest serious amounts into the economy. Corporations would bring manufacturing back to this country if it meant they didn't have to pay taxes. But the way corporations are structured now they have free profits they pay no to little taxes on. We are giving tax returns of hundreds of millions to billions to corporations that pay no taxes in the first place.
Going back to that level, and working the special interest loopholes and write offs that benefit the wealthy to where they pay closer to their actual base rate would knock better than half of the budget deficit off if not more.
Wealthy people and corporations are so opposed to paying taxes they would invest serious amounts into the economy. Corporations would bring manufacturing back to this country if it meant they didn't have to pay taxes. But the way corporations are structured now they have free profits they pay no to little taxes on. We are giving tax returns of hundreds of millions to billions to corporations that pay no taxes in the first place.
Apr 29, 2018 18:23:30 #
JFlorio wrote:
Probably true. You might want to prove it. It’s be... (show quote)
Where do you see Trump punishing this system? The GOP just gave a huge tax cut to the wealthy.
Apr 29, 2018 19:03:11 #
kind of like billions we pay the oil companies who show huge profits
quote=woodguru]Where do you see Trump punishing this system? The GOP just gave a huge tax cut to the wealthy.[/quote]
quote=woodguru]Where do you see Trump punishing this system? The GOP just gave a huge tax cut to the wealthy.[/quote]
Apr 29, 2018 19:06:41 #
JFlorio
Loc: Seminole Florida
woodguru wrote:
Where do you see Trump punishing this system? The GOP just gave a huge tax cut to the wealthy.
Clinton balanced the budget because he worked with a very Conservative congress and was also the beneficiary of the tech boom. If you followed my thread you’d know punishing the wealthy does not work. It’s punishing other countries that take advantage of trade deals that might or might not work. You’re a waste of time.
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