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I'm getting sick of people loosing their proverbial heads over this tax increase. High taxes did not destroy this great country in the 50s,60s, or 70s and they will not destroy this country in the near future.
Serious you people are worse than the news outlets in the way you over-hype this stuff.
I'll take this directly from Jack Kemp who helped bring about the massive tax breaks across all sectors in the early 1980s. Please people stop attempting to re-write history.
Please read
"In 1978, I had, along with my Senate colleague Bill Roth of Delaware, co-sponsored the Kemp-Roth Bill that advocated a 30 percent across-the-board tax rate cut. The top rate in the '70s was 70 percent, and the capital gains rate was 49 percent. I argued that lower tax rates on labor and capital would grow the economy and put an end to the Keynesian dilemma of simultaneous inflation coupled to recession." - Jack Kemp
Remember the song by the Bare naked Ladies "It's all BEEN DONE BEFORE! You ever hear that song, we'll politics are just like the song says, "It's all been done before"
I met you before the fall of Rome
And I begged you to let me take you home
You were wrong, I was right
You said goodbye, I said goodnight
It's all been done
It's all been done
It's all been done before
I knew you before the west was won
And I heard you say the past
was much more fun
You go your way, I go mine
But I'll see you next time
It's all been done
It's all been done
It's all been done before
And if I put my fingers here, and if I say
"I love you, dear"
And if I play the same three chords,
Will you just yawn and say
It's all been done
It's all been done
It's all been done before
Alone and bored on a thirtieth-century night
Will I see you on The Price Is Right?
Will I cry? Will I smile?
As you run down the aisle?
It's all been done
It's all been done
It's all been done before
[/SIZE][/SIZE]
If you're saying that 70% taxes aren't really that bad so therefore 50% is a wonderful thing, then I'm not buying it. Who is going to work with nearly 3/4 of their paycheck going to the FEDERAL government. How much would be left to pay California state taxes and then San Fran's city taxes?
Even those happy to pay 70% of their salary to taxes, if it climbs to 80%, even actors and the homeless will quit earning money.
I'm getting sick of people loosing their proverbial heads over this tax increase. High taxes did not destroy this great country in the 50s,60s, or 70s and they will not destroy this country in the near future.
Serious you people are worse than the news outlets in the way you over-hype this stuff.
I'll take this directly from Jack Kemp who helped bring about the massive tax breaks across all sectors in the early 1980s. Please people stop attempting to re-write history.
Please read
"In 1978, I had, along with my Senate colleague Bill Roth of Delaware, co-sponsored the Kemp-Roth Bill that advocated a 30 percent across-the-board tax rate cut. The top rate in the '70s was 70 percent, and the capital gains rate was 49 percent. I argued that lower tax rates on labor and capital would grow the economy and put an end to the Keynesian dilemma of simultaneous inflation coupled to recession." - Jack Kemp
Remember the song by the Bare naked Ladies "It's all BEEN DONE BEFORE! You ever hear that song, we'll politics are just like the song says, "It's all been done before"
I met you before the fall of Rome
And I begged you to let me take you home
You were wrong, I was right
You said goodbye, I said goodnight
It's all been done
It's all been done
It's all been done before
I knew you before the west was won
And I heard you say the past
was much more fun
You go your way, I go mine
But I'll see you next time
It's all been done
It's all been done
It's all been done before
And if I put my fingers here, and if I say
"I love you, dear"
And if I play the same three chords,
Will you just yawn and say
It's all been done
It's all been done
It's all been done before
Alone and bored on a thirtieth-century night
Will I see you on The Price Is Right?
Will I cry? Will I smile?
As you run down the aisle?
It's all been done
It's all been done
It's all been done before
[/SIZE][/SIZE]
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,769,842 times
Reputation: 3587
Quote:
Originally Posted by johnsonkk
If you're saying that 70% taxes aren't really that bad so therefore 50% is a wonderful thing, then I'm not buying it. Who is going to work with nearly 3/4 of their paycheck going to the FEDERAL government. How much would be left to pay California state taxes and then San Fran's city taxes?
Even those happy to pay 70% of their salary to taxes, if it climbs to 80%, even actors and the homeless will quit earning money.
Only the very wealthy would pay such a rate. 50% of $100 million still leaves you with $50 million which is still decent money.
Well then why don't we raise them across the board. You have to remmeber that many more paid taxes then then now and few got any entitlements and therefore most were suporting the government. Things like the capital gains increases means more like 655 to teh welthy. The question is would anyone risk investment when it adds to risk verus reward. Less reward means that people will not rsk investing in many thing s that creat jobs ;rather in things that don't ;such as investment in foreign markets. We have the seconf high corporate tax rates i the world how. The ral preoblem is we have 50% not paying any taxes and 69% paying less than they get in services.Its not hard to see the problem.I can remmeber paying federal income tax when i worked during clooege in the early 60's for example.
I had an interesting thought around July 4th. I heard the discussion of taxes and how many we pay, so I am planning to start August 1 and try to figure out what portion of our bills, etc. are really taxes and keep a log of what we are really paying. Want to join me in it?
You will need a box to keep the receipts in and a book to record the amount. I guess it would be all right to use the computer programs you have to record this too. A few calculations will be necessary to figure out how much of each gallon of gas is really taxes. Anyone have a link. I think a trip tik from AAA we had once showed it for every state. I am sure it is on the internet somewhere.
I am talking about all taxes, such as alcohol, cigarettes, etc. Anything you spend money on that has a tax anywhere on it. I think it is probably impossible for the average person to know about all the taxes, but we can try.
Income is not the only taxes we pay by a long shot.
GEE! What did the government DO with all that money?
I know what I would do. I'd fix my car, paint my house, if I had one, and take 2-week vacations.
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Tax Rate in the 50s - 70s was more than 70%
