Green New Deal fails Senate test vote as dozens of Democrats vote 'present'

[TLK Valentine]

What was the tax rate back in the "good ol days"? (whenever that was)

In the 1950s... the tax rates for the 1% of the time was 90% -- at least on paper.

In practice, the average millionaire (bit of a contradiction in terms there) actually paid closer to 45% -- since the higher tax rates were on high wages, not necessarily investment income.

Did the Rich Really Pay Much Higher Taxes in the 1950s? The Answer Is a Little Complicated.

 

[Aldebaran]

In the 1950s... the tax rates for the 1% of the time was 90% -- at least on paper.

In practice, the average millionaire (bit of a contradiction in terms there) actually paid closer to 45% -- since the higher tax rates were on high wages, not necessarily investment income.

Did the Rich Really Pay Much Higher Taxes in the 1950s? The Answer Is a Little Complicated.

These tax system should be made far simpler, with set tax rates that are actually paid, but not unreasonable rates. For example, if millionaires were expected to pay 45% rather than 91%, the system should be set up that way without all the complications. The Fair Tax plan would be best this way.

 

[TLK Valentine]

These tax system should be made far simpler, with set tax rates that are actually paid, but not unreasonable rates. For example, if millionaires were expected to pay 45% rather than 91%, the system should be set up that way without all the complications. The Fair Tax plan would be best this way.

Except the millionaires were in fact expected to pay 91% on their wages -- which they did.

They were expected to pay a far lower rate on their investment income -- which they did.

It seems simple enough -- make money through wages, pay this rate... make money through investments, pay another -- which they did.

The point of this was to discourage CEOs from giving themselves exorbitant salaries and instead, actually investing profits back into the company -- which it did. Why give yourself a huge bonus if Uncle Sam was just going to take a huge chunk out of it?

Making money isn't always simple... it would stand to reason that taxing it wouldn't always be, either.

But fret not: those rates only applied to people who made $200k/yr., which would translate to about $2mil/yr. today... so unless that's you, what's the fuss?

 

[Tanj]

I do like being right


Trump mocks Green New Deal, pokes fun at electric cars during Michigan rally

"Because I love campaigning against the Green New Deal. I want them to make that a big part of their platform."

Sorry Don, Mitch shut it down.

No, really, I do like it.

Trump says 'young bartender' AOC has Dems 'shaking': 'They're petrified of her'

"Trump didn’t explicitly name Ocasio-Cortez in his address at the National Republican Congressional Committee dinner in Washington, though he cautioned lawmakers against being too quick to defeat the plan, in hopes of campaigning against it in his 2020 re-election bid,"

Lol, take that Mitch.

As an aside, anyone think Trump knows what the senate does, or when it does it?

 

[hislegacy]

That between Alexandria Ocasio-Cortez and Donald, she's more dignified than he is?

Why aren't you allowed to consider that?

What makes you think I need permission to consider something?

Has the left gone so far that people need permission to think. I know they had to take their cues during the SOTU, but I didn’t think it has gone down to the rank in file.

And no, she is not dignified, Not in my opinion.

 

[TLK Valentine]

What makes you think I need permission to consider something?

Loyalty above all else... Donald demands it from those beneath him.

And no, she is not dignified, Not in my opinion.

Is he?

 

[GoldenBoy89]

And no, she is not dignified, Not in my opinion.

What has she done that is undignified?

 

[DaisyDay]

Except the millionaires were in fact expected to pay 91% on their wages -- which they did.

But that's not even accurate - it's a progressive tax rate. Everyone pays the same rate - even billionaires - on the first set amount, say 10% on the first $ 10,000. Everyone pays the same rate on the next set amount, say 15% on the next $10,000. And so on. They never paid 91% on their entire wage income, only on the last tier of it.

 

[Speedwell]

But that's not even accurate - it's a progressive tax rate. Everyone pays the same rate - even billionaires - on the first set amount, say 10% on the first $ 10,000. Everyone pays the same rate on the next set amount, say 15% on the next $10,000. And so on. They never paid 91% on their entire wage income, only on the last tier of it.

Yes, we all know that--it's the top marginal rate we are arguing about.

 

[Gigimo]

What was the tax rate back in the "good ol days"? (whenever that was)

I'm curious as to when that was considering it's recently been declared that the country has never been great before?

Is that because there has not been enough crony capitalism going on to suit some folks?

 

[Aldebaran]

I'm curious as to when that was considering it's recently been declared that the country has never been great before?

Is that because there has not been enough crony capitalism going on to suit some folks?

It had been great in the past, but the leadership between 2008 and 2016 had us go from greatness to groveling for forgiveness from the rest of the world for our success.

 

[Pommer]

It had been great in the past, but the leadership between 2008 and 2016 had us go from greatness to groveling for forgiveness from the rest of the world for our success.

2009-2017?

 

[Aldebaran]

2009-2017?

Sure.

 

[Tanj]

It had been great in the past, but the leadership between 2008 and 2016 had us go from greatness to groveling for forgiveness from the rest of the world for our success.

So it was consistently, evenly great from 1776 to 2008, or was there a bump of extra greatness in there at some time point?

 

[Aldebaran]

So it was consistently, evenly great from 1776 to 2008, or was there a bump of extra greatness in there at some time point?

Of course there were ups and downs. The Great Depression wasn't so great, but winning World War 2 certainly was.

 

[Tanj]

Of course there were ups and downs. The Great Depression wasn't so great, but winning World War 2 certainly was.

Alrighty, then which particular period of great do you want again?

 

[Aldebaran]

Alrighty, then which particular period of great do you want again?

It doesn't have to be a duplication of a period we've had in the past. Greatness can be accomplished by accomplishments such as going to the moon or establishing a lasting space program, or it could be in technological achievements like the internet, or in eradicating problems such as a disease or unemployment. Right now, we're enjoying economic greatness which is helped by gaining oil independence which certainly beats being dependent on Middle East countries for our energy needs. What comes next is anyone's guess.

 

[Tanj]

It doesn't have to be a duplication of a period we've had in the past. Greatness can be accomplished by accomplishments such as going to the moon or establishing a lasting space program, or it could be in technological achievements like the internet, or in eradicating problems such as a disease or unemployment. Right now, we're enjoying economic greatness which is helped by gaining oil independence which certainly beats being dependent on Middle East countries for our energy needs. What comes next is anyone's guess.

Fascinating. Thanks.

 

[Rion]

No, not racist at all.

TFW you mispell Mondale and another user assumes that you know all the latest racist phrases that they do.