Patrick O Rly New Orleans Saints Fan y u do dis? Member since Aug 2011 25716 posts
re: How about a 100% income tax on the rich? (Posted on 2/3/13 at 10:37 am to Powerman)
quote: I understand a high rate on income over that level but 100% removes all incentive to make more than that
Seems silly
I got into a discussion on youtube (I know) with this guy who was proposing we have a 90% tax rate on the 400 something billionaires we have in America. He said they'll still be rich.
Assuming you could get them to stay in the country and actually pay that 90% tax rate, it still wouldn't come close to covering our current spending levels, and I'd imagine this idjit would be for increased spending.
The weird thing is all the socialist started calling me a psychopath and a selfish a-hole. What the hell? I want for everyone to keep as much of their money as they can, but I'm the a-hole huh?
eelsuee LSU Fan 2B+!2B Member since Oct 2004 3671 posts
re: How about a 100% income tax on the rich? (Posted on 2/3/13 at 12:41 pm to Powerman)
quote: And neglect the state income tax deduction on federal taxes...
No, if you do that you will get something closer to his 63% claim. I am assuming his claim was with no deductions. The 51% is what the cited group calculated as his actual INCOME tax.
ETA: not paying a 39.6% tax on the already paid 12.3% state tax is a saving of just under 5% of total income tax.
I want for everyone to keep as much of their money as they can, but I'm the a-hole huh? 