When the middle class was the strongest it's ever been the top rates were like 80%.




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“It is the heart of US policy to use fascism to preserve capitalism while claiming to be saving democracy from communism “ - Michael Parenti

'Happy Days' time with the Fonz etc - mid 50's the middle class was doing good - so were the unions - an the top rate was like ~95% on top dollar.. Heath care also did not cost anything like it does now.. Bend over Rover - and bring the KY!! Tax man coming for you!!! Open wide!! Say.. "ahhhhhhh"...

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There are NO white people at all in the Bible... take all the time you need with that...
Please stop feeding the trolls - they will go away if you do...

Federal Income Tax Brackets (Tax Year 1955) ARCHIVES

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Tax Bracket Tax Rate

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$0.00+ 20% $2,000.00+ 22% $4,000.00+ 26% $6,000.00+ 30%

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Romans 8;18-32 John 3;16-18

The best time to raise taxes is when tpap gets a raise!

I kid.......

Edited: 05/01/2021 at 03:43 PM by theglide

Not going to happen. As I have said, I am losing money hand over fist. It's just terrible what Biden has done to me. But, at least I don't have to worry about any tax increases and should be getting some money from the gov't. If you can't beat them, join them. Being poor ain't so bad.

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I :heart; Q

Yeah, sure you are...such drama queens you qotards


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QOP = Terrorists
FK = Gay

Well, that's a lie, you just said Biden was making you more rich the other day and that he is great for the rich people.



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I was right.

https://www.politifact.com/factchecks/2009/oct/02/michael-moore/michael-moores-film-capitalism-claims-richest-paid/

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....."Considering that the top marginal tax rate for the wealthiest Americans today is 35 percent, that figure seems astounding. But it's true that in the 1950s, the top marginal tax rates were over 90 percent......"

,,..."So in 1955, for example, when the top marginal tax rate was 91 percent, that was the tax rate owed on a person's income over $300,000. That person would, however, pay 20 percent on the first $2,000 of income; 21 percent on the next $2,000 in income; 24 percent on the next $2,000 and graduated on up to the highest rate. On average, a person making, say, $500,000 would pay substantially less than 90 percent of their income in federal taxes.".....

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We are not talking 'average' tax rates but 'marginal' ('top dollar') tax rates..

The threshold back then was about 300$k.. even if you raised this to 10 mil, the 'billionaires' would be effectively paying most of their taxes at the top dollar rates..

The current level of income disparity did not exist in the 50's.. Not many were in the 300k$ category.. Different nowadays even if you adjust the 300k for inflation..For someone with an income of 100$ mil, their effective/average rate would be getting pretty close to 90%

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There are NO white people at all in the Bible... take all the time you need with that...
Please stop feeding the trolls - they will go away if you do...

Edited: 05/05/2021 at 07:43 AM by surfsail

In the 50's something like 10 people paid the 90% rate. There were a lot more deductions back then. So, the average rate for high earners was about where it is now. No one in their right mind would stand for paying 90%. Ask the Rolling Stones.

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I :heart; Q

Stones didn't last long in Morrocco if I remember correctly.. A year or 2? Spme heavy parting fer sure! Got your plane ticket to Russia as yet?

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There are NO white people at all in the Bible... take all the time you need with that...
Please stop feeding the trolls - they will go away if you do...

93% tax rate. They left for France. No one would pay that rate. Why work for nothing?

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I :heart; Q