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Being in the top 20% doesn't mean i am making "around" 70K, it means im making MORE then 70K.
Theres two ways of looking at this, lets say at a 75% flat tax, we provide a 2K per person per month basic income. Id be doing great. (btw that 75% flat tax IS about what it would take to provide a 2K per month basic income to every man woman and child). If we taxed everyone at 75% and provided no benefit you would have a point. But heres the thing, taxes provides benefits. How efficiently they do so is the question you should discuss. And corporate tax? Represents less then 9% of all taxes collected. Turns out big companies are pretty good at using loopholes.
Inflation is not a normal part of economics. Inflation is a direct result of the scheme known as the fractional banking where every dollar is borrowed into existence at interest. When you purchase an automobile for say $10000 you float a loan at interest which means the actual price of the vehicle is $10000+interest. The money used to purchase that vehicle never existed prior to your borrowing it and is loaned into existence at the point you sign the contract. The price of the vehicle has just been inflated via the interest on your signature on the loan. This same phenomena happens when the US government borrows the money it needs to place into circulation from the Federal Reserve.
If the Treasury printed the money the government needed as the Constitution dictates, and the fractional banking system was eliminated, there would be no inflation and your earning would not loose value when you attempted to save them.
Everyone paying a mortgage would be hosed just to start off with. Seriously, inflation serves a purpose, it cause people to invest instead of just letting their money sit in a bank like you want. You arent even trying to educate yourself on the purpose of inflation, or why we have inflation target.
Interesting, I missed that reply to me. I took my 44% number from another study of taxation at the time. I assure you I didn't just estimate it. Even at the rate you indicated it is still FAR FAR higher then todays. But a long ways from 75% effective. Except...it was in regards to federal taxation, how much more did state taxes, and other taxation add to it? I suspect for many the effective hit 60%. But I have no actual numbers to figure that out with.
.30 vs. .25 is not "FAR FAR" higher, the way I see it.
Good point about state taxes. In my state of WA taxes have gone through the roof over the last several decades. But the tax increases have all been regressive, i.e. disproportionately coming out of the pockets of the poor. Sales taxes, gas taxes liquor taxes, etc.
Dimmyocrats drool at the thought of building an even greater New-Deal country. That is the plan when the Meeegrantays give the Doltocrats an even great share of power.
Yes, raise taxes higher and higher.....build the great failed monster called Fedgov EVEN bigger. More Baby Momma Bennies, all day Babysitting/brainwashing for your kiddies,
Osamacare2 = UHC........on and on!
Top marginal tax rate on the rich was something like 90% from 1954 to 1971. This era was also the golden age of America and had the biggest improvement in the middle class.
Top marginal tax rate on the rich was something like 90% from 1954 to 1971. This era was also the golden age of America and had the biggest improvement in the middle class.
I'm sure that had nothing to do with the destruction of the industrialized world now did it?
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