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I stopped here because its almost impossible to believe that someone is old enough to post here, and doesnt understand the difference between tax rates, and tax liabilities..
Hint, NO ONE paid 90% in taxes...
You're right. Thanks for correcting yet another of Chad's inaccurate claims. I am getting tired of doing so!
Yes, I did tell you. They said no as soon as the offer was made. I even told you what they said.
no you didnt.. you just keep saying
"but they did" but you cant cite for me what bill in the Senate was turned down by the House which involved cutting business tax rate from 35% to 28%..
I'm sorry but you just saying it, doesnt make it true if it starts with a lie..
The deficit has been set to fall to $514 billion in 2014 from $1.2 trillion in 2008. Less than half of what was handed to Obama by a small government, less government spending, republican.
Keep drinking the Kool-Aid conservatives...the GOP needs you to remain ignorant.
The Reality is Senate and House Rep and Conservatives has been holding the President feet to the fire. President Obana has been forced to reduce the Nations Debt.
President Bush was 1.2 Trillion , but emergency funding to the Banking Industries and Fanny Mae and Mac.
After the Banks paid back the loans Bushes Debt was around 750 million before the great House bubble it was even lower and we had record GDP growth year over year.
Free market system does work, but is corrupted by Gov. Intervention.
Over all there is no excuse for any administration to abuse and waste taxpayers money.
I stopped here because its almost impossible to believe that someone is old enough to post here, and doesnt understand the difference between tax rates, and tax liabilities..
Hint, NO ONE paid 90% in taxes...
In 1952 they paid 92% on taxable Income over $400,000.
The following is the tax rate Schedule from 2013.
Married Filing Jointly or Qualifying Widow(er) Filing Status
Tax Rate Schedule Y-1, Internal Revenue Code section 1(a)
10% on taxable income from $0 to $17,850, plus
15% on taxable income over $17,850 to $72,500, plus
25% on taxable income over $72,500 to $146,400, plus
28% on taxable income over $146,400 to $223,050, plus
33% on taxable income over $223,050 to $398,350, plus
35% on taxable income over $398,350 to $450,000, plus
39.6% on taxable income over $450,000.
The first step to getting rid of the debt is to reducing, and getting rid of, the deficit. Is that not true?
So bad things that happens during Obama being president is his fault because he's in charge, good things are not because...
Yeah, not drinking Kool-Aid...sure...whatever you say chief.
This subserviant worship of Obama and his gang of traitorous crooks does nothing to enhance your intellectial image.
And let me let you in on a little secret ... intelligent people have long ago realized that whatever comes out of the mouths of these gangsters is most likely not just a lie, but the exact opposite of the truth.
And additionally, another little secret ... the debt can never be eliminated, so long as the system as it has existed for the last 101 years continues to be a debt based system.
When you create money at interest ... and each dollar created has interest attached, where does the money come from to pay the interest? It doesn't exist!
Let's use an example ... the FED creates the very first $1000. That's all the money that exists .. $1,000. 3% interest is attached to that $1,000 .... that's $30. So the total debt is $1,030. But if only $1,000 exists .. where does the $30 come from to pay the interest?
The truth .... the very simple truth is, from the very first dollar created in 1913, under the Federal Reserve Act, debt was created that can never be repaid. And this is by DESIGN, to plave the nation in debt to the banker gangsters which is impossible to get out of.
There were many, many deductions allowed. Nobody was paying 90% income tax. You could even claim what you owed on a department store credit card! There were so many claims, in fact, that a law was passed in 1968 with more restrictions.
What a dishonest load of crapola. You are trying to compare Bush's last fiscal year to 0bama, when Bush had emergency spending to avert an intergalactic financial crisis???? Did you subtract the $750 billion in TARP from the 2009 fiscal year? Shouldn't you subtract it, since it was paid back?
You are comparing every year under 0bama as if he faced the same financial crisis as Bush, which is tough to pull off since the recession ended in June 2009.
GW Bush (wasted) $3.4 trillion dollars.
Bush did $2.5 trillion dollars of tax cuts for the rich, and added that $2.5 trillion dollars (plus interest) to our national debt.
Then Bush attacked Iraq in the name of Sept 11 (when Iraq had nothing to do with Sept 11.)
And Bush wasted $900 billion dollars attacking Iraq.
There were many, many deductions allowed. Nobody was paying 90% income tax. You could even claim what you owed on a department store credit card! There were so many claims, in fact, that a law was passed in 1968 with more restrictions.
I only posted what I read and heard. And you are correct nobody paid 90% tax rates on 100% of their income.
I apologize for confusing things (I admit I was confused myself.)
But in 1952 there was a 92% tax rate on taxable Income over $400,000.
Just like there was a 39.6% tax rate on taxable income over $450,000 in 2013.
And in 1952, with the "92%" tax rate, there were (again) numerous deductions so they were actually paying more like 70%.
Also, when John F. Kennedy lowered the maximum tax rate from 91% to 70%, the economy improved and government revenue increased. In other words, high taxes are bad for the economy.
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