Proposing new taxes... 70%?
- Thread starter tlwwake
- Start date
Solid response. It’s silly idea regardless who is or was backing it.
The House will make all sorts of noise over the next two years but little will result from it.
The "again" in make America great again had taxes at 70% or higher. The greatest economic growth and growth of the middle class occurred with a top tax bracket at 70% or higher. It is not a silly idea.
I think there is a happy medium between economic growth like we've had and new taxation.
I love it when my taxes go to programs like: "Forgive student debt". Since I managed my school debt by working while going to school, and then got a degree that would actually pay the bills, and then paying what loans I carried off as quickly as possible, I should now be expected to subsidize all of those who chose to make dumber decisions. I also love that she naive enough to think we can be fossil-fuel free in 10 years, but if the proposal has the first new wind-farm being built on the coast of Martha's Vineyard, then I will listen. Not sure where the $1Trillion in new power infrastructure to do this would come from, but maybe she's got a plan for that.
The correct policy is a tuition refund not a debt forgiveness. Gotta leave it to the technocrats to iron out the policy details.
Do you think the economic growth (that did indeed begin in Obama admin) can maintain momentum with this kind of taxation?
We are talking about 2019 and beyond.. serious question to have a discussion.. not argument.
Absolutely, as long as the additional revenue is spent. There is no evidence that high marginal tax rates are a drag on growth.
I was just curious what the thoughts were. It would be interesting to find out how that works in 2019-2020
Yes. Top marginal tax rate just doesn't hurt the economy. Our post WWII taxes were insane. There are lots of other variables that have a much stronger impact, e.g. oil prices.
What O-C is doing reminded me of a book I read a while back. I think she is doing a "moon shot". Ask for the moon and if you fall short you have still gained a lot.
I'd be more interested in tax hikes if they counted all income (cap gains, etc) and not just the income earned by the working class. Obama was more than happy to roll out Warren Buffet and talk about how his secretary paid the same tax rate as he did, yet none of the actual tax proposals changed that. The extremely rich make their money via other instruments besides W-2 income, and unless these proposals are willing to understand that, it will be the Dems who will extending the wealth inequality and destroying the middle class all in one swoop.
Understand, but A) that's not what she proposed; and B) the technocrats you speak of have a history of making things an even bigger boondoggle than the original proposals.
I missed where Eisenhower wanted to replace 90+% of the U.S.'s domestic energy supply within 10 years, all paid for by the US taxpayer.
Despite his dumbass pledge to coal, trump has not brought those jobs back. Why? Because coal is inefficient, and the costs of renewable energy and natural gas production have fallen significantly.
Maybe Trump and republicans need to wake the fvck up now and join the 21st century?
How many of them actually paid that rate after taking advantage of all of the tax loopholes?
What percentage of someone else' money are you entitled to?
Nope
Now back to my question, what percentage of that top tax bracket paid the 70%?
oc is next level dumb
best not to get involved in it
best not to get involved in it
You'll not get a real answer from any of the lefties on this board.
its not someone elses money. This all goes back to Obama's "you didn't build that" which is no different than "you didn't earn that".
What percentage of your income comes from the great fortune of being born in the United States instead of Somalia?
A) Fine, but a minor repair fixes your beef with her proposal and B) the technocrats from the AOC wing haven't been given a chance. Check out https://www.peoplespolicyproject.org/ if you are interested what the think tank from the AOC wing are saying.
A good portion of it? It also goes back to the good upbringing that I had from my family and my own self discipline and work ethic.
So, now that we have confirmed that I am guilty for having been born in the US and into a hard working family, what percentage of someone else' money are you entitled to?
That your income depends on the society you live in and part of that income should pay the costs of that society.
