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Scuba

(53,475 posts)

2. Um, sorry, but ...

Fri Jun 10, 2016, 11:11 AM

Jun 2016

In 1980 the highest tax rate was 70%. Today it is 39.6%

Source

In 1980 the highest tax rate on capital gains was 28%. Today it is 20%.

Source

In 1980 the highest corporate income tax rate was 46%. Today it is 39%.

Source and source

The wealthiest may pay more in taxes now, but they're paying a lower percentage than in the past. The reason they are paying more is because they are taking in a (much) larger percentage of the nation's total income.

Please prove me wrong. I'd be delighted to be wrong.

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Pic Of The Moment: No Difference Between The Two Parties? [View all] EarlG Jun 2016 OP

President Obama has done a fantastic job. nt BootinUp Jun 2016 #1

K&R a million or so times! eom BlueMTexpat Jun 2016 #4

What's his rate for offshore tax havens? nt The Far Left Jun 2016 #47

Um, sorry, but ... Scuba Jun 2016 #2

Those are not the only taxes out there, though NewJeffCT Jun 2016 #5

Do you agree or disagree that the top rates are lower than in 1980? Scuba Jun 2016 #7

the top marginal tax income rates were higher in 1980 NewJeffCT Jun 2016 #14

Still much lower than in 1980. Scuba Jun 2016 #15

Yes NewJeffCT Jun 2016 #23

Sorry, but ... aggiesal Jun 2016 #24

I initially said NewJeffCT Jun 2016 #26

So your point is that loopholes created opportunities to avoid taxes. Still true today. Scuba Jun 2016 #28

A lot of things you could deduct in 1980 went away under the tax deal under reagan 7962 Jun 2016 #37

You mentioned the following ... aggiesal Jun 2016 #32

Jimmy Carter was president in 1980... Blanks Jun 2016 #27

Those are payroll taxes, ... aggiesal Jun 2016 #19

Pete Peterson. Was he one of the billionairs that received a tax free loan from raised proceeds DhhD Jun 2016 #53

1980 is irrelevant creeksneakers2 Jun 2016 #41

Thank you. I was thinking there was something a little off with that overly sunny news story. reformist2 Jun 2016 #45

Nobody would sensibly argue that there's NO difference whatsoever between the two parties. But Gene Debs Jun 2016 #3

So THAT's what all that repeal hoo-hah was really about. I think a lot of citizens were unaware. ancianita Jun 2016 #6

The Epic Inanity of �Both Parties are the Same� L. Coyote Jun 2016 #8

Please make this an OP MH1 Jun 2016 #16

You just provided a perfect description of the "Good Cop/Bad Cop" scam. arcane1 Jun 2016 #42

And the same party complains about too much government, too big, too much Thinkingabout Jun 2016 #51

On the other hand, both parties are in agreement on wars and fracking and messing with Social djean111 Jun 2016 #9

They aren't paying a higher percentage Gore1FL Jun 2016 #10

LOL! Not nearly enough. nt Dawgs Jun 2016 #11

I'm paying more taxes now too. progressoid Jun 2016 #12

we have states that are dying on the vine due to republican governors demigoddess Jun 2016 #13

Not the time for back slapping Wibly Jun 2016 #17

would be nice to see Obama pardon Pelltier PatrynXX Jun 2016 #21

so Hillary being his chosen successor is a very good thing MariaThinks Jun 2016 #18

Don't know who's saying that PatrynXX Jun 2016 #20

well, the good cop/bad cop, faux duopoly, janus-like condition in DC stupidicus Jun 2016 #22

I agree Andy823 Jun 2016 #25

+1 lovemydog Jun 2016 #31

K & R! HuckleB Jun 2016 #29

k & r lovemydog Jun 2016 #30

... FailureToCommunicate Jun 2016 #33

Practically NO ONE ever paid those high rates. Everyone knows that. 7962 Jun 2016 #38

So? JackRiddler Jun 2016 #54

Good points. And JackRiddler, don't we WANT Hortensis Jun 2016 #55

Indeed Yo_Mama_Been_Loggin Jun 2016 #34

Yet the stock market has been soaring and millions of new jobs IronLionZion Jun 2016 #35

Explain the difference between the two parties OnyxCollie Jun 2016 #36

I am a little lost humbled_opinion Jun 2016 #39

Makes sense. Continuing Bush's wars isn't cheap, and they don't pay for themselves arcane1 Jun 2016 #40

Thanks, Obama....! ;-> nt SusanCalvin Jun 2016 #43

Yeah, that narrative is quite simplistic seanbnewyork4 Jun 2016 #44

I lulz'd KG Jun 2016 #46

Can the president take credit for the 2012 repeal of some hughee99 Jun 2016 #48

Why are we not ALL paying higher tax rates? MadDAsHell Jun 2016 #49

It's really great that they are paying more tax money. glowing Jun 2016 #50

K&R betsuni Jun 2016 #52