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A Tax rate story the Republicans ignore

Posted by on Oct. 5, 2012 at 12:02 PM
  • 15 Replies
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Most Republicans wish for a return to the values of the 50's. Do they realize that the top income tax rate during the 50's was 90% and that middle class and low income families did not have to pay income tax? It wasn't until millionaires started moaning about being persecuted that the tax rate crept down for millionaires and up for the middle class. Not so coincidentally, the economy tends to tank every time millionaires get their corporate welfare.

by on Oct. 5, 2012 at 12:02 PM
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meriana
by Gold Member on Oct. 5, 2012 at 12:09 PM
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Just like we always hear that millionaires worked so hard for their money and should be able to keep much more of it but NEVER hear that those in the middle and lower income groups work hard for their money and should be able to keep much more of it, instead they tend to be classified as lazy moochers who want everything handed to them.

radioheid
by Libertarian on Oct. 5, 2012 at 12:13 PM
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During the 1950s, our steel industry and manufacturing were in full boom. China and third world countries hadn't taken our industries yet, and people were so gung-ho American that they didn't oppose a peacetime draft and were willing to pay higher prices for American-made goods. 

I wasn't aware the top tax rate was 90%. In fact, I'm not even sure I believe that.

If we are to turn our economy around, about the only practical way to do it is to restrict wages and require business owners to pay employees more, while waging heavy taxes on outsourcing overseas to discourage business owners from moving. NOBODY wants to hear that, but it is the only way to keep our jobs at home and guarantee the populace makes enough to eat without excessive use of social welfare programs.

Very "un-libertarian" of me, I know, but I really don't see any other solution. Business owners, particularly big business, have become so greedy and stingy that Americans can't get by without intervention. The rich are getting richer, and the poor are getting called "the 47%", and all that title entails, ignoring the glaringly obvious fact that the rich are directly responsible for the plight of their workers.


"Roger that. Over."

R   A   D    I    O    H    E    I    D

Sisteract
by Whoopie on Oct. 5, 2012 at 12:17 PM
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It's easier it seems to get $1 from 100 people than to get $100 from 1 person.

Smoke and mirrors I tell you.

I do not think the Middle is supposed to know about all the unique advantages that are afforded those in the other groups.

I do find it interesting that many in the middle complain ad nauseum about the entitlements for the lower groups, while virtually ignoring the advantages that only those at the tip top enjoy. WHY is that? Are people so in awe with the wealthy? Do they worship at the altar? Or are the poor an easy target? Does shite always flow downhill?

Seems a rather "bullyish" approach-

JoshRachelsMAMA
by JRM on Oct. 5, 2012 at 12:27 PM
Source?

Quoting jadedcynic:

Most Republicans wish for a return to the values of the 50's. Do they realize that the top income tax rate during the 50's was 90% and that middle class and low income families did not have to pay income tax? It wasn't until millionaires started moaning about being persecuted that the tax rate crept down for millionaires and up for the middle class. Not so coincidentally, the economy tends to tank every time millionaires get their corporate welfare.

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AdrianneHill
by Platinum Member on Oct. 5, 2012 at 12:28 PM
Because they assume they will be the rich ones one day and don't want to lose out on all of the perks when they get super rich at any second now.

Quoting Sisteract:

It's easier it seems to get $1 from 100 people than to get $100 from 1 person.

Smoke and mirrors I tell you.

I do not think the Middle is supposed to know about all the unique advantages that are afforded those in the other groups.

I do find it interesting that many in the middle complain ad nauseum about the entitlements for the lower groups, while virtually ignoring the advantages that only those at the tip top enjoy. WHY is that? Are people so in awe with the wealthy? Do they worship at the altar? Or are the poor an easy target? Does shite always flow downhill?

Seems a rather "bullyish" approach-

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Lissa0985
by Bronze Member on Oct. 5, 2012 at 12:41 PM
Great more stupidity from the left.

Can you name one "millionaire" or even a "so-call rich person" from the '50s that actually paid a 90% of their income (or wealth) in taxes. No you can't.

If 90% tax rates is so wonderful, why was the federal government revenue as a percent of GDP ran about 21%

Hmm maybe; it is because people didn't pay that rate.

Lastly, if all you liberals out there that think taxes are so wonderful. Please feel free and pay that rate to the government ... No one is stopping you. Oh that's right, you feel it is better to take from others instead of doing things for yourself.
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meriana
by Gold Member on Oct. 5, 2012 at 12:44 PM
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Quoting JoshRachelsMAMA:

Source?

Quoting jadedcynic:

Most Republicans wish for a return to the values of the 50's. Do they realize that the top income tax rate during the 50's was 90% and that middle class and low income families did not have to pay income tax? It wasn't until millionaires started moaning about being persecuted that the tax rate crept down for millionaires and up for the middle class. Not so coincidentally, the economy tends to tank every time millionaires get their corporate welfare.

http://www.ntu.org/tax-basics/history-of-federal-individual-1.html

http://taxfoundation.org/article/us-federal-individual-income-tax-rates-history-1913-2011-nominal-and-inflation-adjusted-brackets

You'll have to scroll down on both these sites to find the rates for 1950, but she is correct.

meriana
by Gold Member on Oct. 5, 2012 at 12:51 PM
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Quoting Lissa0985:

Great more stupidity from the left.

Can you name one "millionaire" or even a "so-call rich person" from the '50s that actually paid a 90% of their income (or wealth) in taxes. No you can't.

If 90% tax rates is so wonderful, why was the federal government revenue as a percent of GDP ran about 21%

Hmm maybe; it is because people didn't pay that rate.

Lastly, if all you liberals out there that think taxes are so wonderful. Please feel free and pay that rate to the government ... No one is stopping you. Oh that's right, you feel it is better to take from others instead of doing things for yourself.

No one is saying that that is what they PAID. The rate and what is actually PAID are two different things. These days everyone talks about how high the RATE is and how horrible that is for big businesses and the wealthy however, just as in earlier times, the RATE is NOT what they are actually PAYING. Taking all into consideration, the rate these days is not horrible when looking at what past rates have been and considereing the fact that since the current rate is what it is, with all the deductions, write-offs, etc. a lot of businesses and mult-millionaires pay NO federal taxes and yet they complain about the rate being too high.

timeforprogress
by Silver Member on Oct. 5, 2012 at 1:03 PM
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I really don't understand the arguments at all.  The poor pay a huge percentage of their income in taxes at a much higher rate than the wealthy and even the middle class.  Property, transportation, utilities, goods and services, Medicare, and SS are all taxed at flat regressive rates that mean the less you make the more you pay as a percentage of your income.  You can take any random wage earner and Mitt Romney will have paid a lower percentage than them in federal taxes just based on the 15% paid into FICA alone.  It is maddening to me that we cannot simply stick to logic and reason when having these discussions.   

Quoting Sisteract:

It's easier it seems to get $1 from 100 people than to get $100 from 1 person.

Smoke and mirrors I tell you.

I do not think the Middle is supposed to know about all the unique advantages that are afforded those in the other groups.

I do find it interesting that many in the middle complain ad nauseum about the entitlements for the lower groups, while virtually ignoring the advantages that only those at the tip top enjoy. WHY is that? Are people so in awe with the wealthy? Do they worship at the altar? Or are the poor an easy target? Does shite always flow downhill?

Seems a rather "bullyish" approach-


timeforprogress
by Silver Member on Oct. 5, 2012 at 1:16 PM
1 mom liked this

The top tax bracket was on incomes of over $200,000 which would be equivalent to a salary today of over 2 million.  In other words, it would have been the pay of a company executive.  They wouldn't pay the top tax rate, because of course that would be a silly waste of money.  Instead they would take a salary just under the top marginal rate, and the rest of the funds would be reinvested into the growth of the business.  It would translate into more jobs, higher wages, and better benifits for employees.  This created a strong consumer class which further drove growth and development.  As opposed to the system we have now where CEOs take much larger salaries than 2 mil, pay their employees crap, offer no vacation time, and look to the government to subsidize the needs of their employees through Medicaid, foodstamps, and housing assistance. 


Quoting Lissa0985:

Great more stupidity from the left.

Can you name one "millionaire" or even a "so-call rich person" from the '50s that actually paid a 90% of their income (or wealth) in taxes. No you can't.

If 90% tax rates is so wonderful, why was the federal government revenue as a percent of GDP ran about 21%

Hmm maybe; it is because people didn't pay that rate.

Lastly, if all you liberals out there that think taxes are so wonderful. Please feel free and pay that rate to the government ... No one is stopping you. Oh that's right, you feel it is better to take from others instead of doing things for yourself.


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