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re: In 2015, top 20% of income earners paid 83.9% of all federal income taxes

Posted on 9/28/17 at 12:00 pm to
Posted by Machine
Earth
Member since May 2011
6001 posts
Posted on 9/28/17 at 12:00 pm to
quote:

This NEVER happened.


keep that head in sand
Posted by Nuts4LSU
Washington, DC
Member since Oct 2003
25468 posts
Posted on 9/28/17 at 12:01 pm to
quote:

This NEVER happened.


Yes, it did. The highest tax bracket was at one time over 90%. And that was when the U.S. economy boomed like never before or since. I'm not saying the high tax rate caused the boom, but I am saying it sure as hell didn't stop it or prevent it as many today claim higher taxes do.
This post was edited on 9/28/17 at 12:02 pm
Posted by HailHailtoMichigan!
Mission Viejo, CA
Member since Mar 2012
69304 posts
Posted on 9/28/17 at 12:04 pm to
quote:

The highest tax bracket was at one time over 90%
While technically true, the sheer amount of exceptions and deductions made the effective tax rate closer to 40%.

But let's step back.

It is immoral to confiscate 90% of somebody's income.

That is blatantly authoritarian.
Posted by udtiger
Over your left shoulder
Member since Nov 2006
98826 posts
Posted on 9/28/17 at 12:06 pm to
quote:

Yes, it did. The highest tax bracket was at one time over 90%.


I didn't say that. You said people paid this, which they did not.
Posted by Janky
Team Primo
Member since Jun 2011
35957 posts
Posted on 9/28/17 at 12:07 pm to
quote:

he highest tax bracket was at one time over 90%.


For anything earned over $3M.
Posted by Machine
Earth
Member since May 2011
6001 posts
Posted on 9/28/17 at 12:08 pm to
quote:

It is immoral to confiscate 90% of somebody's income.
that's the thing about morality. its subjective

some would say its immoral for a man to make 20 million dollars in a year, and honestly, i wouldn't feel the slightest bit of pity for him if he only got to take hom 2 million dollars.

i know i know, how can anybody survive on a mere 2 million dollars a year, and while lifestyle changes may occur, like having to sell your private island in the Caribbean or one of your four planes. people would just have to scrape by.
Posted by RogerTheShrubber
Juneau, AK
Member since Jan 2009
260576 posts
Posted on 9/28/17 at 12:09 pm to
quote:

Yes, it did. The highest tax bracket was at one time over 90%


The tax code was a couple of pages then there was a thousand pages of exemptions. No one paid more than 40-45%
Posted by Centinel
Idaho
Member since Sep 2016
43337 posts
Posted on 9/28/17 at 12:10 pm to
quote:

the people who thrive off the system


Exactly. The people sucking up 60% of the budget.


Posted by RogerTheShrubber
Juneau, AK
Member since Jan 2009
260576 posts
Posted on 9/28/17 at 12:10 pm to
quote:

that's the thing about morality. its subjective



Not always.
Posted by roadGator
Member since Feb 2009
140479 posts
Posted on 9/28/17 at 12:11 pm to
quote:

like having to sell your private island in the Caribbean or one of your four planes.


Who would be able to buy the private island being sold if you had your way? Everyone would be taxed to death and not be able to afford it.

Posted by Centinel
Idaho
Member since Sep 2016
43337 posts
Posted on 9/28/17 at 12:11 pm to
quote:

some would say its immoral for a man to make 20 million dollars in a year, and honestly, i wouldn't feel the slightest bit of pity for him if he only got to take hom 2 million dollars.

i know i know, how can anybody survive on a mere 2 million dollars a year, and while lifestyle changes may occur, like having to sell your private island in the Caribbean or one of your four planes. people would just have to scrape by.



Here's the important point:

It's NOT YOUR GODDAMN MONEY.

Posted by Machine
Earth
Member since May 2011
6001 posts
Posted on 9/28/17 at 12:11 pm to
quote:

Exactly. The people sucking up 60% of the budget.

those lucky bastards renting 600 square foot apartments and working at mcdonalds for the rest of their lives.
Posted by HailHailtoMichigan!
Mission Viejo, CA
Member since Mar 2012
69304 posts
Posted on 9/28/17 at 12:12 pm to
quote:

some would say its immoral for a man to make 20 million dollars in a year, and honestly, i wouldn't feel the slightest bit of pity for him if he only got to take hom 2 million dollars.


Who is for you to decide?

We live in a country where people earn their own income through offering goods and services to others?

You think you have a right to just take somebody's money because you think it's "too much"?

the frick is wrong with you?
Posted by skrayper
21-0 Asterisk Drive
Member since Nov 2012
30887 posts
Posted on 9/28/17 at 12:13 pm to
quote:

60% of federal spending is on 2 welfare programs


That's not quite accurate.

That 60% is for mandated benefits, not "welfare programs". Social Security, for example, is something that we pay into separately. I'm not saying it isn't broken, but it isn't a welfare program, it is a retirement program.

quote:

Social Security is funded through payroll taxes. Until 2011, Social Security collected more in tax revenues than it paid out in benefits. That's because for every beneficiary withdrawing from the fund, there were 3.3 younger workers paying into it. Over the years, this created a surplus in the Social Security Trust Fund.


So while it is part of the overall budget, it isn't paid entirely by you.

quote:

Both payroll taxes and income taxes are based on an employee's wages or salary. The difference is who pays. A payroll tax is paid at least partly by the employer, while income taxes are paid by employees. Federal payroll taxes are for Social Security, Medicare and unemployment insurance.


Medicare is also part of the same component, partially paid by payroll taxes.

quote:

The Medicare Part A Hospital Insurance program, which collects enough payroll taxes to pay current benefits. Medicare Part B, the Supplementary Medical Insurance program and Part D, the new drug benefit. Payroll taxes and premiums cover only 57 percent of benefits. The remaining 43 percent is financed from general tax revenues. That means Medicare contributes to the budget deficit. Rising healthcare costs means general revenues would have to pay for 62 percent of Medicare costs by 2030. As with Social Security, the tax base is insufficient to pay for this.


The problem with this line of logic is confusing WELFARE programs with RETIREMENT programs. One is for people who are presently capable to work, but earn to little or nothing at all and are being taken care of (with exception, of course, for those who are truly disabled and unable to do so).

The other, however, is for people who have spent 40+ years of their lives already working and paying into the system.

Why does it bother me?

Because my grandfather, who is in his 90s, gets a social security check. He fought in WWII. He worked well into his 60s and beyond. He raised 4 wonderful kids, including my mother.

And if you came up to me and told me he was taking welfare, you're going to wonder why you're suddenly on the ground and tasting copper.
Posted by RogerTheShrubber
Juneau, AK
Member since Jan 2009
260576 posts
Posted on 9/28/17 at 12:14 pm to
quote:

those lucky bastards renting 600 square foot apartments and working at mcdonalds for the rest of their lives.


With government programs to provide education and training, these people deserve it.
Posted by Machine
Earth
Member since May 2011
6001 posts
Posted on 9/28/17 at 12:14 pm to
quote:

Here's the important point:

It's NOT YOUR GODDAMN MONEY.

here's another point: IF YOU DON'T LIKE TAXES GO SOMEWHERE THEY DON'T HAVE TAXES LIKE AFRICA AND LET ME KNOW HOW THAT WORKS!
Posted by Centinel
Idaho
Member since Sep 2016
43337 posts
Posted on 9/28/17 at 12:14 pm to
quote:

those lucky bastards renting 600 square foot apartments and working at mcdonalds for the rest of their lives.




Not my fricking problem. They have food and a roof over their head. That already puts them in the 1% on this planet.
Posted by Centinel
Idaho
Member since Sep 2016
43337 posts
Posted on 9/28/17 at 12:15 pm to
quote:

here's another point: IF YOU DON'T LIKE TAXES GO SOMEWHERE THEY DON'T HAVE TAXES LIKE AFRICA AND LET ME KNOW HOW THAT WORKS!



Congrats. That has absolutely zero to do with the massive amount of money we spend on welfare programs in this country.

But statist on little statist.
Posted by RogerTheShrubber
Juneau, AK
Member since Jan 2009
260576 posts
Posted on 9/28/17 at 12:15 pm to
quote:

I'm not saying it isn't broken, but it isn't a welfare program, it is a retirement program.
Posted by Machine
Earth
Member since May 2011
6001 posts
Posted on 9/28/17 at 12:15 pm to
quote:

With government programs to provide education and training, these people deserve it.
if that sounds appealing you should strive for it. personally i'm looking for more out of life, and while i love making money, i have no problem not making as much so other people don't starve.

we can definitely cut the hell out of spending, but it really blows my mind how so many god fearing conservative christians don't give a flying f**k about their less fortunate brothers and sisters
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