Rdskns2000

Presidential Election:11/3/20- On to Iowa 2/3 & New Hampshire 2/11

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Yes I like how Fox keeps wanting to run with "The Democrats running so far left on issues like......taxes (to name one)" yet the GOP also agrees with higher tax rates over a certain level of income. 

 

Whoever wins the (D) primary needs to get their messaging on stuff like this, also bring up the fact that Trump had previously said his wealthy class of buddies would hate him for raising their taxes, then went and did the opposite.  Then cite these polls to show it is Trump (and the GOP) that is not aligned with mainstream America on the tax issue. 

 

It doesn't seem like a hard issue to win on, but leave it to the Dems.........ugh.

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25 minutes ago, Llevron said:

Obviously its not gonna happen. But getting that fox news base to actually agree with HER on THAT?? Booyyyy when her time does come they are gonna be so scared of this woman. 

 

They don't know that they're agreeing with her yet.  

 

Fox will explain it to them.  

 

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8 minutes ago, NoCalMike said:

Yes I like how Fox keeps wanting to run with "The Democrats running so far left on issues like......taxes (to name one)" yet the GOP also agrees with higher tax rates over a certain level of income. 

 

Whoever wins the (D) primary needs to get their messaging on stuff like this, also bring up the fact that Trump had previously said his wealthy class of buddies would hate him for raising their taxes, then went and did the opposite.  Then cite these polls to show it is Trump (and the GOP) that is not aligned with mainstream America on the tax issue. 

 

It doesn't seem like a hard issue to win on, but leave it to the Dems.........ugh.

 

Seems easy.  Use the word "fair" constantly, and assure everyone that increases in taxes will only affect the top 1% or a fraction of the top 1%.  I would mention what that money can be used for instead of yachts with IMAX theaters (roads!  schools!  stuff!)

 

I wouldn't get into polling if i were a candidate, but obviously, it helps that it's very popular.  .  People care less about what other people think, they just want to be told this will help them and only hurt other people (who happen to be rich). 

Edited by PleaseBlitz
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41 minutes ago, twa said:

Problem is ya'll never stop at that, next thing ya know I'm rich

 

Sorry, I meant just since 1944, when they went from 90% and stayed there until the 1960's, then went to 70%.

 

Right now, they are in the 30's.  

 

 

image.png

Edited by PleaseBlitz

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45 minutes ago, twa said:

Problem is ya'll never stop at that, next thing ya know I'm rich

 

We should tax your ass top, of course. But at a reasonable rate. 

 

But i feel you, this **** is easily abused if not watched closely. Something about a well armed militia 

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1 minute ago, Llevron said:

 

We should tax your ass top, of course. But at a reasonable rate. 

 

But i feel you, this **** is easily abused if not watched closely. Something about a well armed militia 

 

All those poor armless bears though.

 

Also if people understood how tax brackets worked, then I'd suspect the majority wouldn't have a problem with a lot higher brackets for those reporting $1mil plus incomes (or whatever the threshold is it at).

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52 minutes ago, twa said:

Problem is ya'll never stop at that, next thing ya know I'm rich

 

Not true. It didn't work that way last time the top marginal rate was very high.  Keep repeating that though because it seems to help you remain scared.

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14 minutes ago, NoCalMike said:

 

Not true. It didn't work that way last time the top marginal rate was very high.  Keep repeating that though because it seems to help you remain scared.

 

Didn't they start to collect more once they dropped it from 90?

 

I'd prefer they went after the non-profit tax scams most truly rich use drive policy and direct funds.

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1 hour ago, twa said:

 

Didn't they start to collect more once they dropped it from 90?

 

I'd prefer they went after the non-profit tax scams most truly rich use drive policy and direct funds.

 

Go after all of it. Income, NP tipoffs, estates, gains, wealth etc. 

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No one knows the struggle of Billionaires. You don't know pain until you wake up one morning and have to decide if you're going to drive the Lamborghini or the McClaren.

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6 hours ago, PleaseBlitz said:

 

Sorry, I meant just since 1944, when they went from 90% and stayed there until the 1960's, then went to 70%.

 

Right now, they are in the 30's.  

 

 

image.png

So the average highest marginal income tax through US history has only been 25.42%.  So we're above that now.

Edited by nonniey

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11 hours ago, nonniey said:

So the average highest marginal income tax through US history has only been 25.42%.  So we're above that now.

 

Your math seems very questionable on this one.  

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11 hours ago, nonniey said:

So the average highest marginal income tax through US history has only been 25.42%.  So we're above that now.

 

19 minutes ago, PleaseBlitz said:

 

Your math seems very questionable on this one.  

 

I really shouldn't have wasted my time doing this, but I just had to.  Assuming a few potential data entry errors, I got an average of 57.69%.  I think Nonniey forgot to carry a 1 somewhere.

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1 minute ago, Forehead said:

 

 

I really shouldn't have wasted my time doing this, but I just had to.  Assuming a few potential data entry errors, I got an average of 57.69%.  I think Nonniey forgot to carry a 1 somewhere.

 

I think he may be getting clever and counting years before the first income tax was instituted in the 1860s (which was temporary) or before the ratification of the 16th Amendment in 1913, which actually allowed Congress to levy an income tax directly.  Prior to that, the federal government was funded via tariffs and excise taxes on booze and sugar and other staples.  

1 minute ago, The Evil Genius said:

Can someone explain average marginal tax rate? Isn't it one or the other (average or marginal)? 

 

Average marginal tax rate = sum of actual annual top marginal tax rates / number of years.  

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So with only 11 out of 106 years being less than what he claimed as the average for that period (and a good block of it being 2-3x higher)...yeah about that 25.42%

 

🤣

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I'd love for someone to educate me on those high tax rates myself because I don't understand them.

 

When the tax rate was 94 percent what exactly did that mean?

 

I find it impossible to believe that if you made a million dollars in 1944 that you only got to keep 60 thousand of it. 

 

 

 

 

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11 minutes ago, redskinss said:

I find it impossible to believe that if you made a million dollars in 1944 that you only got to keep 60 thousand of it. 

 

I believe you are thinking of marginal rates.  So that 94% tax would not apply to say the first 10 million you make.  It would be anything over that.  However I also believe a bi-product of the high marginal tax rate was that CEO's re-invested the money in their companies, their workers, infrastructure etc etc to avoid the taxes.   As the marginal tax rate continued to be slashed, it took away incentive to re-invest that money and instead made it more appealing to just keep it all, hoarding it and dispersing it to shareholders instead of workers.  I am sure I way oversimplified it.  I am no expert on the topic either. 

Edited by NoCalMike
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37 minutes ago, redskinss said:

I'd love for someone to educate me on those high tax rates myself because I don't understand them.

 

When the tax rate was 94 percent what exactly did that mean?

 

I find it impossible to believe that if you made a million dollars in 1944 that you only got to keep 60 thousand of it. 

 

 

Marginal is the key word.  You don't pay the 94% on all of your income.  Tax brackets are tiered so that you pay a higher percentage on income over certain amounts.  

 

 

 

 

Edited by PleaseBlitz

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