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In reply to the discussion: "Name a Country Where 70% Tax Worked" [View all]moose65
(3,166 posts)3. This framing always irks me
No one ever paid 70% of their entire income in taxes. The 70% was the marginal rate on the top level of income.
Whenever Republicans rail against Democrat tax increases, they deliberately conflate the marginal rate with the effective rate and make it seem like people will be paying the top rate on ALL their income. They use that to scare people and it drives me bananas.
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"Marginal" wasn't mentioned originally (when Dell was told at once the US had the rate up to 1980)
muriel_volestrangler
Mar 2021
#31
We worship rich guys and pretend they know about things they have no idea about
Johnny2X2X
Mar 2021
#47
Your 2016 stats were rendered irrelevant by Trump's 2017 tax cuts for the rich.
SunSeeker
Mar 2021
#53
Yup. Payroll taxes, sales taxes, utility/use fees, etc. are how the poor get soaked with taxes.
SunSeeker
Mar 2021
#51
So tax capital gains at the same marginal rates that person would have for income
muriel_volestrangler
Mar 2021
#35
The following companies had effective rates of 0% or less, according to the report:
UpInArms
Mar 2021
#30
It depends on how one defines "worked." And Republicans have a different definition.
Beartracks
Mar 2021
#63