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flamin lib

(14,559 posts)

3. The tax rate in the '50 on income over $5 mil was 92% after many brackets below that level.

Thu Aug 27, 2015, 12:10 PM

Aug 2015

Adjusted for inflation that would be $44 mil today. There was a truly graduated progressive tax structure that allowed us to build the best, bar none the best, highway system in the world. It allowed us to completely eliminate one disease from the face of the earth and virtually eliminate measles, mumps, rubella, tuberculosis and polio from the US. It allowed us to export vaccines and doctors instead of guns.

Today the tax structure only taxes "earned income" with only 2 brackets and "unearned income" at one constant 15%.

Not everything about the '50s was great, but the truly progressive income tax worked for everybody and everybody paid a fair share.

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In My View, The Wealthiest Should Pay At Least 90% of Our Taxes. [View all] grahamhgreen Aug 2015 OP

Since the military is keeping other countries from taking their wealth away from them Stargazer99 Aug 2015 #1

Well, the upkeep Newest Reality Aug 2015 #2

The tax rate in the '50 on income over $5 mil was 92% after many brackets below that level. flamin lib Aug 2015 #3

You want to go to the 1950s size of government? former9thward Aug 2015 #21

Adjust that for inflation. flamin lib Aug 2015 #27

The White House says they did adjust it. former9thward Aug 2015 #28

Hmmm, appears you're right. I wonder what it looks like when compared to GDP. I'll have a look and flamin lib Aug 2015 #30

No, please try to get your facts right. Nye Bevan Aug 2015 #29

welcome back, ghg Doctor_J Aug 2015 #4

Thanks Doc! grahamhgreen Aug 2015 #7

They get most of the perks of this society... hunter Aug 2015 #5

I am strongly for bringing back the marginal rates of the Ike Age, hifiguy Aug 2015 #6

Do you like the size of federal government in the Ike Age? former9thward Aug 2015 #22

What does that have to do with the price of eggs? hifiguy Aug 2015 #23

Almost no one paid those rates. former9thward Aug 2015 #26

What will we see? What will you fight for? grahamhgreen Aug 2015 #34

I am a realist. former9thward Aug 2015 #51

I actually think that they already do. could be wrong. nt clarice Aug 2015 #8

"Now own more wealth than bottom 90%" does not equal "own 90% of the wealth" taught_me_patience Aug 2015 #9

Why tax income instead of wealth? Seems arbitrary to me. In fact, it seems regressive. grahamhgreen Aug 2015 #35

Which countries tax wealth instead of income? TexasMommaWithAHat Aug 2015 #42

Yea .. that'll help Lurker Deluxe Aug 2015 #49

How bout taxing wealth over 1 billion? Just to help pay for the wars grahamhgreen Aug 2015 #50

So ... Lurker Deluxe Aug 2015 #52

In that case, why not eliminate worker income tax and only tax corps? grahamhgreen Aug 2015 #54

Here is the funny thing. I had that conversation once with a Republican and it was great... stevenleser Aug 2015 #10

We do Munificence Aug 2015 #13

If you read what I wrote, I said income. So no, there was nothing for him to tear me apart on. nt stevenleser Aug 2015 #15

The top 2.5% of tax filers payed 50% of all income taxes hack89 Aug 2015 #11

Not enough. Not if the top 1% earned 90% of the income. nt stevenleser Aug 2015 #14

So how much is enough? nt hack89 Aug 2015 #16

At the very least, a flat ratio which we don't get now primarily because stevenleser Aug 2015 #17

Completely wrong. see my post below. taught_me_patience Aug 2015 #19

Not completely wrong. I'll respond when I get back to a computer. nt stevenleser Aug 2015 #20

Yet the reichwingers always talk about the "dignity of work" hifiguy Aug 2015 #24

The top 1% earn 22% of income taught_me_patience Aug 2015 #18

They didn't. The top 1% have wealth that exceeds the bottom 90% Recursion Aug 2015 #32

Seems to me that wealth is exactly what we should be taxing. Taxing wealth would encourage spending. grahamhgreen Aug 2015 #36

So we punish those that save hack89 Aug 2015 #41

Taxes are a mutual investment. If you see them as "punishment" or "theft" RadiationTherapy Aug 2015 #43

I willingly pay a lot of taxes hack89 Aug 2015 #44

I suppose. You used the word "punish" which I found to be anti-tax in general. RadiationTherapy Aug 2015 #45

I am not rich if that is what you are implying hack89 Aug 2015 #46

My congratulations aren't implying anything except a bit of childish envy on my part. RadiationTherapy Aug 2015 #47

Ok. Good luck in return. nt hack89 Aug 2015 #48

Several Fortune 500 Corps pay no taxes at all. lpbk2713 Aug 2015 #12

Changing the subject of personal income taxes to corporate income taxes NT 1939 Aug 2015 #25

Corporations are people, my freind. grahamhgreen Aug 2015 #37

Taxing wealth rather than income is difficult Recursion Aug 2015 #31

The top quintile pays 70% of personal income taxes and receives 50% of personal income Recursion Aug 2015 #33

But does that include capital gains income? grahamhgreen Aug 2015 #38

Yes, both in the income and the tax categories Recursion Aug 2015 #39

That would work for two or three days... ileus Aug 2015 #40

i do not think the govt should ever tax more than 50% while the taxpayer is alive questionseverything Aug 2015 #53