Thread: Taxes
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Old 02-20-2019 | 08:01 AM
  #178  
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Originally Posted by bohicagain
70% marginal tax rate. The marginal tax rate was up to the 90's% for income above 200k (About 2.8 million in today's $$)

Back then debt was around 25% of GDP.
Since Regan cuts jumped to 40% and increased from there. Marginal tax rate of 70% is well below the max rate during the post WWII boom.

Free market where corporations are buying back stock instead of paying more?

Our current PWA is from 2016. Tax cut in 2018. You really think Delta will negotiate a contract with a higher gains then in 2016?
So you're advocating for 70%? You realize very few people actually paid that on any significant portion of their income? Let alone the joke of a 90% rate. And the WWII Boom wasn't because of that but because we were the last man standing and the only manufacturing powerhouse left on earth with the only in demand reserve currency on earth. That's something that's not likely to repeat, and certainlly wasn't because all the Bourgeoisie were having 90% of their income confscated LOL! that was being avoided almost completely. What idiot would work for 90% gone off the top then state after that then sales after whats left? Pipe dream.

And how exactly do you force companies to not buyback stock (which I'm also a critic of)? Order them to liquidate that money to the workers? LOL yeah right good luck with that, it might work once, then they'll make sure that money goes elsewhere next time.

Reagan's debt only increased because Tip and Ted promised spending cuts that never transpired and Reagan fell for it. Same "deal" as their mass amnesty 1.0 that flipped CA blue for the next 1000 years in exchange for border security that never transpired and now we're on the verge of mass amnesty 2.0 that will flip the country Maduro socialist for 1000 years (or worse).

Neither side has the appetite for govt/spending cuts, which BTW were the real reason for the post WWII recovery. Bush doubled the debt in 8 years and Obama doubled it again in 8 years. No one will cut anything unless its offset by even more spending elsewhere and even then its hard. Tax and spend ourselves into prosperity by confiscating the vast majority of everything from everyone is not going to work out very well for your airline pilot ambitions.

As for C19 what do you mean "higher gains"? Are you referring to the same percentage raise as last time? Any gains? Any gains over inflation? I don't know what the end product will be at this point and no one else really does, but what does that have to do with income tax brackets either way?
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