The left likes to cite historical tax rates in order to mitigate the damage their current proposals would cause.
They say that the rich paid 90% under Eisenhower.
That was the statutory rate, that wasn’t the effective rate. The left leaves out all of the loopholes that were put in place so the rich didn’t turn a gun on the government for their theft.
The left today would like to implement a 70% statutory rate and remove all loopholes, leaving a 70% effective rate. That’s not going to happen without a revolution.
Historically, effective rates were never as punitive as what the radical left is proposing.
Read more HERE
This is an incredible article! I don’t know the number of prog acquaintances who prat on and on….. …..and on….. ….about the Eisenhower tax rates.
(Mostly, it never made sense to me: who would stay around to be ripped off like that? Gerard Depardieu told France to take a hike when he renounced citizenship, refused to pay the taxes….. If you have “that kind of money,” why not?) …..Lady in Red
There’s a new poll out that reports more Democrats now support Socialism over Capitalism. Not good.
Can the FedGov vote away your rights?
What is Slavery but the ownership of another’s labor?
Even ante-bellum slaves of the American South weren’t shackled when sent out to pick cotton – their labor, however, belonged to Massah.
Play guitar, pick the Banjo, sing the spirituals … whatever … but what was earned belonged, by LAW, to Massah.
THAT is the essence of Slavery. THAT is what “slavery” means. And THAT is precisely what the socialists are proposing – make no mistake. They are demanding that you enslave yourself (as your Grandparents did with the passage of the 16th) to THEM! They are braying that it is “immoral” for you to maintain possession of the fruits of your labor. They are caterwauling that an even greater percentage of your week is occupied working exclusively for THEM!
And don’t be fooled by that “Tax the Rich” bullshit – the fact that the Rich are overwhelmingly socialistic (Soros, Pelosi, Rockefeller, O’Rourke, Zuckerberg, Bezos, Whitehouse, Hoyer, Carnahan, &c.) proves that they have no intention of giving up their swag – just taking more of yours.
Like everything else they spew, it’s a lie. Raise the “rate” to 100% and see how many of the Rich Rats will fall right into line – they know that only those who work pay taxes – the parasites don’t.
izlamo delenda est …
That’s because the right commissars weren’t in charge. But they’re here now! The czarinas you’ve been waiting for!
I think that the increase in the statutory rate would be matched by an increase in loopholes that would reward “virtuous” behavior — like investing in “green” industries and contributing large sums to Democrat campaigns and PACs. I imagine politicians on both sides of the aisle are already plotting how to benefit from compromise negotiations. The mere thought of it would make a congressional aide quiver in anticipation.
As ignorant as we think cortez is, her media handlers are worse.
Dangerous.
Flat tax, and everybody pays.
Especially the EBT crowd
Occipital-Missing Cortex and her progressive pals can lead the way by having 70% of their “stipend” taxed at the full rate. Let them lead by example instead of flapping their gums, when they have no idea what they are talking about.
Soaking the rich may sound good – until one realizes that the federal government may consider a whole lot of people wealthy. “But my household income is only $200,000…particularly in California that’s just enough to live a middle class lifestyle.” Congratulations, you may still be considered “rich,” and if you aren’t now, you will be after a few years of inflation. Pay up.
Bumping the tax rates sufficient to make leftists happy will likely devastate the economy. Consider that most people don’t buy big ticket items based on the price; they buy big ticket items based upon the payments. With housing, it is the monthly mortgage payment that is important – if a person can afford $1000 a month payments, that is what they will pay and the total price of the house is largely irrelevant. But if the government doubles the tax rates, then disposable income goes down, the monthly payments people can afford decrease, and the housing and automobile markets suffer.
Leftists in particular are very childish when it comes to economics. They believe that if they double the tax rates, they will get double the revenue. But frequently, increases in tax rates lead to decreases in tax revenues because people alter their financial lives. This progressive tax plan is a disaster in the making caused by ignorant politicians like AOC.
Google the “Red Terror” and educate yourselves.
What stupid Occupied Cervix
doesn’t understand is
The high tax rates were intended to
punish the middle class
for no other reason than their
EXISTENCE
That’s right
Since Wilson, Fdr, etc
The main goal of the American Communist Party
has been the utter destruction of the
MIDDLE CLASS
The middle class ( the hated bourgeouis )
is what principley stands in the way of
world wide communist domination.
After the destruction of the middle class
there will be no defense against
WORLD WIDE SLAVERY
Which is the goal of the
SMELLOCRAT PARTY