Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
If you do your homework, it wasn't the increase in income taxes that allowed the US to do well, but the reduction of the capital gains tax from 28% to 20% in 1997.
The economy averaged 4.2 percent real growth per year from 1997 to 2000--a full percentage point higher than during the expansion following the 1993 tax hike (illustrated in the graph above). Employment increased by another 11.5 million jobs, which is roughly comparable to the job growth in the preceding four-year period. Real wages, however, grew at 6.5 percent, which is much stronger than the 0.8 percent growth of the preceding period (illustrated in the graph below). Finally, total market capitalization of the S&P 500 rose an astounding 95 percent. The period from 1997 to 2000 forms the memory of the booming 1990s, and it followed the passage of tax relief that was originally opposed by President Clinton. Tax Cuts, Not the Clinton Tax Hike, Produced the 1990s Boom
For your information, I want to become one of those multi millionares....so I want tax rates low. I am sickened by people who are driven by envy, and simply want someone else to pay for their bills...that is so amoral.
I though Mitts foreign affairs trip was fine. You see, America is an exceptional country, we are the world leaders. I am embarassed by the weakness of our current President....if you think being nice to every foreign country will allow us to all peacefully coexist, you are completely clueless. Leading from behind and performing group think is such weakness. We have to be strong, fair, and lead. We need a leader who will behave like this....
The percentages DO NOT MATTER. What matters are the REAL NUMBERS.
What if the top ten percent are earning 30 billion dollars and the tax system collects only $100,000, for example?
Then even if they pay the entire amount they are paying a negligible sum.
DISTRIBUTION OF INCOME MATTERS.
Yes, real numbers matter, and the top earners are paying both a higher % as well as absolute tax dollors. However, paying for a service recieve also matters, and many, many people pay for services without paying federal taxes, and those who are stuck with the bill are tired of it.
Yes, real numbers matter, and the top earners are paying both a higher % as well as absolute tax dollors. However, paying for a service recieve also matters, and many, many people pay for services without paying federal taxes, and those who are stuck with the bill are tired of it.
If YOU are going to complain, then get out the real numbers at least.
Furthermore, what makes you think that rich people do not get "services" for what they pay in taxes? Rich (and when I say rich, I mean the ultra-rich) people get MORE for their money than the average citizen. Rich people, high-status professional groups like the AMA and rich companies can actually LOBBY the government to get THEIR specific needs met. The rest of us just get whatever "trickle down" is left over. AND they get the regular benefits of being U.S. citizens like driving on the interstate and using the judicial system and whatever else there is.
Does anyone on this board actually KNOW any rich people? B
However, anyone that spends money is actively participating in employment of others. When you take a bus, you are one of the many paying customers that are keeping the bus drivers and bus maintenance people employed, and keeping the bus manufacturers in business. If there were no people taking the bus, there would be no need to make the bus or fix the bus.
When you spend money on a hair cut, you are keeping the salon employees in business.
When you spend money on phone service, you are keeping the employees of the phone company employed. If folks suddenly started cancelling their phone service, you would quickly see layoffs as a result.
That's not "hiring". That's paying for a service. They are not employees.
If YOU are going to complain, then get out the real numbers at least.
Furthermore, what makes you think that rich people do not get "services" for what they pay in taxes? Rich (and when I say rich, I mean the ultra-rich) people get MORE for their money than the average citizen. Rich people, high-status professional groups like the AMA and rich companies can actually LOBBY the government to get THEIR specific needs met. The rest of us just get whatever "trickle down" is left over. AND they get the regular benefits of being U.S. citizens like driving on the interstate and using the judicial system and whatever else there is.
Does anyone on this board actually KNOW any rich people? B
I am not sure what numbers you are speaking to. I normaly consider the CBO numbers.
If you look closely, you will see that the lowest 50% of total income, pays right at 30% of federal taxes. If we assume that they use 50% of services (and probably more) than I have a problem in asking the other 50% of the remaining income (higher earners per capita) to pay more. Yolu are suggesting it is ok to mooch and leach off the high earners....and I find that disgusting. If I want to lobby, than I join a PAC, donate some money, volunteer with an organization....so my needs can be met. Your argument has no merit with me. Again, why do you care about the ultra rich..the only reason I see is envy and greed, wanting a hadnout of their money.
If you look closely, you will see that the lowest 50% of total income, pays right at 30% of federal taxes. If we assume that they use 50% of services (and probably more) than I have a problem in asking the other 50% of the remaining income (higher earners per capita) to pay more. Yolu are suggesting it is ok to mooch and leach off the high earners....and I find that disgusting. If I want to lobby, than I join a PAC, donate some money, volunteer with an organization....so my needs can be met. Your argument has no merit with me. Again, why do you care about the ultra rich..the only reason I see is envy and greed, wanting a hadnout of their money.
You are straining under your delusion that the rich are victims.
I have more than enough money, thank you. I don't know why people here play the "you're just JEALOUS!" card, we're not 13 year old girls (at least I'm not). Sometimes I wonder if anyone on citydata even KNOWS any rich people. There are many rich (multi-millionaire) people in my family, and I can tell you I would not trade places with them for a second. Nor do I subscribe to the philosophy that if I were a millionaire, that my life would be substantially better. If you spend less than what you earn, you are rich. If you are a happy person (which I am) than you are richer.
You are straining under your delusion that the rich are victims.
I have more than enough money, thank you. I don't know why people here play the "you're just JEALOUS!" card, we're not 13 year old girls (at least I'm not). Sometimes I wonder if anyone on citydata even KNOWS any rich people. There are many rich (multi-millionaire) people in my family, and I can tell you I would not trade places with them for a second. Nor do I subscribe to the philosophy that if I were a millionaire, that my life would be substantially better. If you spend less than what you earn, you are rich. If you are a happy person (which I am) than you are richer.
It is not a strain, nor am I saying people are victims. What you aspire to is of no concern to me.
However, if you look at the numbers, which you are ignoring, a small % of people are paying for a disproportion of services provided by the Govt. Those who pay for those services (whcih I know I paid more than my fair share) are tired of people saying..well, we need another program, and lets just ask the folks who are high earners to use more of their disposable income to pay...they don't need it, and we believe it will help everyone. I simply want the govt to live within its means, and ask people to pay a little at least if they use services? How is that unreasonable?
It is not a strain, nor am I saying people are victims. What you aspire to is of no concern to me.
However, if you look at the numbers, which you are ignoring, a small % of people are paying for a disproportion of services provided by the Govt. Those who pay for those services (whcih I know I paid more than my fair share) are tired of people saying..well, we need another program, and lets just ask the folks who are high earners to use more of their disposable income to pay...they don't need it, and we believe it will help everyone. I simply want the govt to live within its means, and ask people to pay a little at least if they use services? How is that unreasonable?
What are these government programs that you are so upset about? What proposed programs are you upset about? Why don't you mention something specific? Why don't you list some of these outrageous numbers? People above have shown that the wealth in this country is dispersed in an incredibly disproportionate fashion, and you have ignored that, as if it means nothing. And what is so audacious about saying that someone making $100 million should pay the same tax rate as someone who earns $50k? If you're not happy with your tax bill, maybe you should do some tax planning with your accountant instead of complaining on citydata. And do you not recognize that someone who is making too little to pay federal income tax is paying an outsize share of payroll and state and local taxes in addition to sales taxes? Do you really differentiate who you're paying taxes to in your mind?
Not sure of the point, the graph illustrates investment income going up after capital gains went down....
The point is that investment income went up during Clinton and down during Bush, even though capital gains rates were lower during Bush.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I don't know why people here play the "you're just JEALOUS!" card, we're not 13 year old girls (at least I'm not). Sometimes I wonder if anyone on citydata even KNOWS any rich people. There are many rich (multi-millionaire) people in my family, and I can tell you I would not trade places with them for a second. Nor do I subscribe to the philosophy that if I were a millionaire, that my life would be substantially better. If you spend less than what you earn, you are rich. If you are a happy person (which I am) than you are richer.
