Tax Rate in the 50s - 70s was more than 70%

[MotleyCrew]

So let understand the op's post. Since we had insane taxation once upon a time, we hsould repeat the insantiy? I think perhaps every generation should learn the lessons the hard way. Tax on.

[dorock99]

Originally Posted by MotleyCrew

So let understand the op's post. Since we had insane taxation once upon a time, we hsould repeat the insantiy? I think perhaps every generation should learn the lessons the hard way. Tax on.

Nothing in my original post said anything remotely close to what you wrote. Please do not attempt to pervert my words for you own sick political view.

I made the simple point, that people are overacting to a situation that our country has already experienced and lived through.

I do not know how many times i have to state this, but I'm not for the increased tax rates, but I'm smart enough to realize the sky is not falling, and there are much more serious matters that need to be addressed.

If you honestly believe a 14 Trillion dollar economy is going to fall apart due to tax increases, I've got some beach front property in Arizona i could sell you!!

[nicet4]

Originally Posted by KevK

Only the very wealthy would pay such a rate. 50% of $100 million still leaves you with $50 million which is still decent money.

No they wouldn't.

The very rich have special vehicles to dodge taxes that you can not fathom. Search out the Kennedy family trust (of Ted Kennedy man of the people fame) and KenOil. Yeah, that's an evil oil company owned and controlled by the Kennedy family.

The biggest problem with high taxes is it forces people to do artificial things with money that would be put to better use in investments in order to preserve capital.

[GOPATTA2D]

Originally Posted by KevK

Only the very wealthy would pay such a rate. 50% of $100 million still leaves you with $50 million which is still decent money.

Give me half of your money and we'll see if you feel the same way.

[zz4guy]

Raising taxes to 70% of your income won't be a bad thing. Yeah I guess you're right. It's better than 90%!