The LuLac Edition #2103, June 26th, 2012
TAX RATE FACTS
There has been a great deal of noise made about taxing the rich. If the rich get taxed too much, they won’t create jobs. Right now we have banks sitting on their hands not loaning money. We have employers hiding behind the Health Care Act because they won’t know what it will cost. But here are the hard cold facts about the tax rates for rich people.
The tax rate now under this administration is 35%.
The tax rate under Bill Clinton was 40%.
The tax rate under Ronald Reagan was 70%.
The tax rate in the 40s and 50s was 80%.
It’s not about job creation or being afraid to invest.
It’s about greed.
And as the middle class recedes into a distant memory,
it is fast becoming about treason.
posted by David Yonki @ 9:56 PM
6 comments
6 Comments:
Sung to a mournful tune:
"I was once a member
of the almost
upper middle class,
Now I'm struggling
just to keep my ass,
above water..."
and I'm hardly in debt compared to some. I feel I'm being taxed to death on the local level.
The elimination of the Middle Class is almost totallly succesful.
The end result will be class warfare when the poor rise up against the ruling class as they
have always done down thru history. At that point the American Democracy Adventure will end! Something new will replace it.
Something to think about this evening...
Chester
What a narrow and uninformed opinion on the tax rate. It is evident you have never run a business or made your own money. When you are reliant on someone else for your money and exploit the risks they take for YOUR benefit, it is easy to assign blame and come up with an easy fix.
I hope the professor assigns you to remedial economics and introductory entrepreuership.
Sounds like Chester is Professor Cleaver's nemesis from across the hallway!
Agree with your assessments, Dave. Problem is, why then (as it seems more probable now than ever) will that very middle class elect Mitt Romney President???
It boggles my mind.
Since when are businesses in business for the benefit of the employees they have in their employment? A business by nature is profit oriented, this is the only reason for its existence.Throughout history there is ample evidence of business and industry exploiting workers. Can you cite when the opposite has been true. (Don't give me that workers get paid too much crap as evidence.) An entrepreneur does take risks as you state, but these risks are well rewarded upon success. The success most often is based on the ability of customers to buy that product or service . Maybe Mr. Yonki should assign you to read Upton Sinclair.
Can someone tell me what nation has the highest tax rate in the world today. Can someone tell me what the % of Americans with an income who pay no federal taxes is. Can someone tell me if the stat I saw the other day that said 49.1 % of all American households have at least 1 person reciving a government check is true. They say if we return to bill clintons tax rate of 39 % on the rich it will generate 70 billion a year or 700 billion over ten years ...question our projected deficit this year is 1.3 trillion what would that 70 billion reduce our deficit to hmmmmmmm 1,293,000,000,000...is that right ?
Forget about this business BA. Of course business only exists to make money but most of us put small business in the same pot as Exxon and the real money companies. They are not job creators, that's just a BS story that Boehner, Limbaugh and the other coat tail group talk about. Big business is not creating jobs, they are creating wealth and they are not paying a fair amount of taxes. Hell, Romney only paid 14% last year and he earned 21 million dollars. Obama only wanted them to pay one half of one percent and that would have fully funded the jobs bill. Nope, they needed that half percent to create jobs or so Boehner said. When they talk abouty tax reform, they talk about us giving up our mortgage interest deduction and a few other deductions that allow us to live. I am so sick of the idiots in the former middle class who support the 1% that I am almost willing to give up my deductions and my Medicare just to watch those idiots cry in their soup.
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