Prison1203 · 61-69, M
Answer me this, why are dummycrats still voting no to opening the government when EVERY REPUBLICAN has voted yes ?
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Prison1203 · 61-69, M
@JSul3 the rich provide more taxes than any other group they pay 90% if not more of all taxes collected, I guess you want them to pay 100% of what they make so they move their businesses to other countries
JSul3 · 70-79
@Prison1203 I urge you to go back and read the history of what rich people paid in taxes.
In the United States, the top marginal income tax rate for the wealthiest individuals exceeded 50% for several decades, primarily from 1932 to 1986.
Key periods when the top marginal rate was over 50% include:
1930s-1940s (Great Depression and WWII): The top rate was increased to 63% in 1932 and then steadily climbed, reaching its historical peak of 94% in 1944 and 1945.
1945-1963 (Post-WWII era): The top rate remained exceptionally high, mostly at 91%.
1964-1981: The rate was lowered to 77% in 1964, and then stabilized at 70% from 1965 until 1981.
1982-1986: As a result of the Economic Recovery Tax Act of 1981, the top rate was reduced to 50%, where it remained until the Tax Reform Act of 1986 lowered it further.
It is important to note that the marginal tax rate applies only to income that falls within the highest tax bracket, and due to various deductions and loopholes available at the time, the effective tax rate (the actual percentage of total income paid in taxes) for the very rich was often lower than the statutory marginal rate. However, the effective tax rates were still generally higher in the mid-20th century than they are today.
The highest top marginal federal income tax rate in U.S. history was 94% during World War II, specifically for the tax years 1944 and 1945. This rate applied to taxable income over $200,000 (which is equivalent to over $3 million in today's dollars).
Following the war, the top marginal rate remained high, generally at least 91% until the early 1960s, and then at 70% until 1981. The current top marginal federal income tax rate is 37%.
Do you see a trend here Pat?
We have a select few that have the vast majority of wealth in this country. The wage gap between rich and poor continues to widen.
In the United States, the top marginal income tax rate for the wealthiest individuals exceeded 50% for several decades, primarily from 1932 to 1986.
Key periods when the top marginal rate was over 50% include:
1930s-1940s (Great Depression and WWII): The top rate was increased to 63% in 1932 and then steadily climbed, reaching its historical peak of 94% in 1944 and 1945.
1945-1963 (Post-WWII era): The top rate remained exceptionally high, mostly at 91%.
1964-1981: The rate was lowered to 77% in 1964, and then stabilized at 70% from 1965 until 1981.
1982-1986: As a result of the Economic Recovery Tax Act of 1981, the top rate was reduced to 50%, where it remained until the Tax Reform Act of 1986 lowered it further.
It is important to note that the marginal tax rate applies only to income that falls within the highest tax bracket, and due to various deductions and loopholes available at the time, the effective tax rate (the actual percentage of total income paid in taxes) for the very rich was often lower than the statutory marginal rate. However, the effective tax rates were still generally higher in the mid-20th century than they are today.
The highest top marginal federal income tax rate in U.S. history was 94% during World War II, specifically for the tax years 1944 and 1945. This rate applied to taxable income over $200,000 (which is equivalent to over $3 million in today's dollars).
Following the war, the top marginal rate remained high, generally at least 91% until the early 1960s, and then at 70% until 1981. The current top marginal federal income tax rate is 37%.
Do you see a trend here Pat?
We have a select few that have the vast majority of wealth in this country. The wage gap between rich and poor continues to widen.
Prison1203 · 61-69, M
@JSul3 history has no bearing on today’s world as far as taxes go
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Mike Johnson, and all Trumps collaborators are deeply ill intentioned toward the American people. Lawrence O'Donnell called them "sadistic zombies", an apt name.
Trump and his allies cannot be reformed. They have to be overthrown, driven out of power and retribution delivered.
Trump and his allies cannot be reformed. They have to be overthrown, driven out of power and retribution delivered.