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RUMMYisFROSTED

(30,749 posts)

10. All have incomes in the upper brackets.

Reply to KharmaTrain (Reply #5)

Sun Dec 25, 2011, 09:51 AM

Dec 2011

The base $174K salary puts them in the top 6.745% of earners.

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Top marginal income tax rate should be fifty percent [View all] Syrinx Dec 2011 OP

one of the lefty talkers on the radio suivezlargent Dec 2011 #1

sounds good to me Syrinx Dec 2011 #2

Even that high would not be bad for big business lefthandedlefty Dec 2011 #6

That makes sense Cresent City Kid Dec 2011 #31

You realize taxes owed are a function of 2 things (tax rate and taxable income) joeglow3 Dec 2011 #68

This message was self-deleted by its author HereSince1628 Dec 2011 #3

Anything online to read about that you can point to? BootinUp Dec 2011 #27

This message was self-deleted by its author HereSince1628 Dec 2011 #28

It's because the really rich are making money off the entire world. dkf Dec 2011 #4

This logic has limits quaker bill Dec 2011 #30

Its not flight so much as lessening the attraction for the world's best and brightest to move here. dkf Dec 2011 #32

There is little in the way of policy to fix this quaker bill Dec 2011 #34

We don't tax wealth, we tax income. Many other countries tax both. Bluenorthwest Dec 2011 #86

Here's The Rub... KharmaTrain Dec 2011 #5

All have incomes in the upper brackets. RUMMYisFROSTED Dec 2011 #10

That will give rich people even more leverage - you have to keep them rich hack89 Dec 2011 #7

50% is way too low. unblock Dec 2011 #8

If you add it all up, it already much higher than that. Minarchist Dec 2011 #9

Implying those in the top brackets actually pay all those taxes. nt Modern_Matthew Dec 2011 #11

Many of those taxes fall disproportionately on lower income earners. CJCRANE Dec 2011 #12

I agree that income taxes must be progressive, but not one of the taxes I listed Minarchist Dec 2011 #19

100 years ago was 1911... CJCRANE Dec 2011 #23

"weak governnment that is beholden to corporations" Minarchist Dec 2011 #33

Government exists for the people CJCRANE Dec 2011 #52

If only you were right--and I wish you were. Minarchist Dec 2011 #61

Tennessee Valley Authority certainly went somewhere. LanternWaste Dec 2011 #82

Are you sure you're in the right place? jmowreader Dec 2011 #103

Those who have the most are not those who work the hardest. Marrah_G Dec 2011 #53

I disagree--all of the people I know who do well, are workaholics. Minarchist Dec 2011 #62

This is not about those doing "well" Marrah_G Dec 2011 #66

You are speaking like a right-winger here LeftishBrit Dec 2011 #77

It is not right-wing for one to advocate against the Greek model of government's role. Minarchist Dec 2011 #81

First of all, the crisis in Greece is mainly due to the banking crisis, not to their 'model of LeftishBrit Dec 2011 #85

The Greek government was in cahoots with the bankers; thus, they facilitated the crisis. Minarchist Dec 2011 #89

Since the Reagan Revolution (which included decentralizing and privatizing gov't) has destroyed ... ieoeja Dec 2011 #94

Oh great. HughBeaumont Dec 2011 #92

You want to go back to how it was 100 years ago? The Genealogist Dec 2011 #69

Technology-wise? No. -- Big Government Totalitarianism-wise? Yes. Minarchist Dec 2011 #79

Big Government Totalitarianism?? In America? LeftishBrit Dec 2011 #88

100 years ago our nation was not the most prosperous but was the most grantcart Dec 2011 #72

Allow me to laugh MFrohike Dec 2011 #74

Even better is some of the taxes he lists jmowreader Dec 2011 #104

Haha, missed that MFrohike Dec 2011 #105

Lol, welcome to DU. Union Scribe Dec 2011 #35

How many billionaires do you know? Minarchist Dec 2011 #36

None. That's why I'm so surprised to hear they're truckers. Union Scribe Dec 2011 #38

Well, if you don't know any, that should tell you that there are not very many of them. Minarchist Dec 2011 #39

Ah, poor one percenters. Union Scribe Dec 2011 #47

I view all nameless-faceless individuals the same--without knowledge there can be no judgement. Minarchist Dec 2011 #63

You realize that most wealthy people in this country did exactly *nothing* to earn it? Ikonoklast Dec 2011 #71

That is not true. But I suppose it sounds good if one is engaged in the art of manipulating sheep. Minarchist Dec 2011 #80

No one is "entirely self-made", despite what Ovarian Lottery Winner Steve Forbes tells you . . . HughBeaumont Dec 2011 #90

The problem with your thesis is that PRIVATE wealth created the common wealth. Minarchist Dec 2011 #91

Ha ha ha ha ha. No man is an island. NONE. HughBeaumont Dec 2011 #93

Add up all the millionaires in this country who inherited their wealth. Ikonoklast Dec 2011 #95

"How to Become As Rich As Bill Gates" Starry Messenger Dec 2011 #101

Good grief that is an old meme The Genealogist Dec 2011 #67

Where do you thing the top rate should begin? taught_me_patience Dec 2011 #13

I am for 50% after the second $1 M and add 1 % for every additional Million until you get to 99% Vincardog Dec 2011 #22

I agree Under Dog Dec 2011 #75

As I said in the OP, I'm not sure where that top tax rate should begin Syrinx Dec 2011 #29

I have tried this approach at DU before with about the same luck NNN0LHI Dec 2011 #14

Why so low? For 40 years it was 70-90% JHB Dec 2011 #15

In the 50s and 60s there were about two dozen income tax brackets... JHB Dec 2011 #16

I disagree Stinky The Clown Dec 2011 #17

Between 55-60% is more like it with at least 3 more brackets. TheKentuckian Dec 2011 #18

I started one reply and it sounded kind of snarky... 99Forever Dec 2011 #20

specify the rate you want collected cthulu2016 Dec 2011 #21

It's possible that the surplus cash was invested CJCRANE Dec 2011 #25

That money is not stagnant hack89 Dec 2011 #41

If it's not moving around in the real economy then it's stagnant IMO. CJCRANE Dec 2011 #43

That cash can't create demand hack89 Dec 2011 #44

But if you tax the 1% more CJCRANE Dec 2011 #45

It should be 95% Taitertots Dec 2011 #24

If you're looking to maximize revenue without negative consequences to the economy overall PETRUS Dec 2011 #26

So what happens when you run out of rich people to tax at that level? hack89 Dec 2011 #37

It's not my plan PETRUS Dec 2011 #40

you have a false sense of self worth PowerToThePeople Dec 2011 #49

They are still not going to work their asses off for money they will never see. nt hack89 Dec 2011 #50

wrong PowerToThePeople Dec 2011 #51

They don't work their asses off now. nt TBF Dec 2011 #100

Great. That would open up market opportunities for other companies. Overseas Dec 2011 #55

Or give the money back to the shareholders hack89 Dec 2011 #57

I remember the days when making a decent profit was enough. We weren't crazed about maximizing Overseas Dec 2011 #84

We never did before, why would we do so in the future? Ikonoklast Dec 2011 #73

I imagine you believe no one in the top brackets worked very hard LanternWaste Dec 2011 #83

THAT is what PISSES ME OFF about our Party Leadership. bvar22 Dec 2011 #42

I agree. Overseas Dec 2011 #56

A lot of speculation. We don't need to pluck numbers out of thin air....we should look at what wiggs Dec 2011 #46

I'd be OK with it only if it kicked in at $300,000 income mainer Dec 2011 #48

Before raising any taxes, I want to see the government stop spending money on illegal wars slackmaster Dec 2011 #54

According to economist Richard Wolff the top rate was 91% during FDR's administration... truth2power Dec 2011 #58

Sadly, he ignores the other half of the equation for determining taxes owed. joeglow3 Dec 2011 #70

ah, the myth of the loophole hfojvt Dec 2011 #76

I trust my 15 years experience as a tax CPA (half for Big 4 firms) joeglow3 Dec 2011 #96

meaning you started in 1996 hfojvt Dec 2011 #97

I have studied this joeglow3 Dec 2011 #98

UNL? Well that explains a lot. Their degrees are worthless. hfojvt Dec 2011 #99

My "worthless" degree has done a lot for me joeglow3 Dec 2011 #102

I don't know. I'll send that message to him. Can't say I'll get a reply, as he gets truth2power Dec 2011 #78

Taxation should be progressive primavera Dec 2011 #59

I Agree with Your Post, However Higher Tax Rates Won't Solve The Income Gap Yavin4 Dec 2011 #60

50% isn't bad... NightTemplar Dec 2011 #64

I don't know why people keep saying 250k Syrinx Dec 2011 #106

It should be at least 70% roamer65 Dec 2011 #65

Herbert Hoover raised it to 60% when the Great Depression hit. Crunchy Frog Dec 2011 #87