Originally Posted By Mr X Socialism? Hardly. This is the highest rates that AMERICA imposed during times of crisis... <a href="http://mjperry.blogspot.com/2007/03/history-of-us-tax-code-highest-rate.html" target="_blank">http://mjperry.blogspot.com/20...ate.html</a> Were we Socialist back then? Who cares? I say, raise the rates through the roof, just as they did back then during times of crisis. The President is being far too KIND by not insisting that taxes be raised through the roof STARTING RIGHT NOW. Sure, they paid a paltry 25% in the roaring 20's (shall we call today's situation "the roaring naughts"? ). But that all went up right quick, and rightly so. Do it now. Fast and dirty. They'll be pissed, but they'll manage to get over it. Let the rich bail us out of this mess, I say (heck, THEY contributed greatly to causing it!).
Originally Posted By DAR It makes me think that: A) I'm glad I'm not rich B) There really is no incentive to being rich.
Originally Posted By Mr X ***B) There really is no incentive to being rich.*** Well, you could argue the same for the current tax rate. The rich CURRENTLY pay more in percentage terms than the poor. So what's the incentive to be rich, right now?
Originally Posted By ecdc I agree 92% is a bit much. But some conservatives have been quick to label Obama a socialist for raising taxes on the rich by a couple of percentage points - check out how high they were during Nixon's administration. And Eisenhower's. And I think the "incentive to be rich" thing is completely bogus. It's the shallowest argument conservatives have. They make it sound like people like me are sitting at home going, "Well, I *was* going to go out tomorrow and start a business to become a multi-millionaire, but now forget it! Taxes are too high." Yeah, because I'd rather make $60,000 a year and pay 15% taxes than make $500,000 a year and pay 40% taxes. That makes a whole lotta sense.
Originally Posted By mawnck >>But nobody should have 92% of the wages taken from them.<< That's not how tax brackets work. No one was getting 92% of their wages taken from them. Ever.
Originally Posted By DyGDisney The rich manage to cheat the government on their taxes anyway, so what's the point. If the rich actually PAID what they OWE we probably wouldn't be in this mess!
Originally Posted By DyGDisney As a matter of fact, most people cheat on their taxes. If EVERYONE paid what they owe, we probably wouldn't be in this mess! How are we to run our country without everyones contribution? I do understand that the government isn't always good about their spending either, so that would help too. But I know several people who lie on their taxes, heck, their little bit won't hurt, right?
Originally Posted By DyGDisney >>>B) There really is no incentive to being rich.<<<< Be poor, it's cheaper!
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Originally Posted By disneydad109 the rich are anyone who has more then I do,get those fat cats !!!!!!!!!
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Originally Posted By EighthDwarf California has the highest taxes in the land....look how well that's serving our state. The best way to breed failure is to eliminate the incentives for success.
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Originally Posted By Dabob2 There are all kinds of taxes. California tied its hands years ago with Prop 13; which served a purpose at the time but now serves as a strait jacket. Without an adequate property tax base, as other states have, CA has no choice but to raise other taxes.
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Originally Posted By mrkthompsn Obama said he's going to bring us out of this economic slump from the middle class up. OK middle classers: you have until this Friday to submit your business plan. The year is flying by.
