Here it comes, fuel crisis is going to cascade to other sectors

[Mark Kerr]

Yup, its true. I looked it up. JFK lowered the tax rate from 91% to 70%. That is STILL astronomical numbers! Why the hell would anyone want to be rich then anyways? I would much rather be in an easier and less stressful job than have 91% of my money taken! Screw CEO, I'll take my place as humble stockboy at those precentages!

 

[Bob Smith]

91%? WTF!?!?! That CANT be right, can it?

Here ya go, Mark. http://www.heritage.org/research/features/budgetchartbook/charts_T/t1.html

 

[Bob Smith]

Yup, its true. I looked it up. JFK lowered the tax rate from 91% to 70%. That is STILL astronomical numbers! Why the hell would anyone want to be rich then anyways? I would much rather be in an easier and less stressful job than have 91% of my money taken! Screw CEO, I'll take my place as humble stockboy at those precentages!

I agree completely. What incentive is there to be wealthy if you only get to keep 10% of your income? Screw that.

From the chart, it looks like Kennedy lowered rates from 91% down to about 76%. Then LBJ lowered it to 70% before raising them back up to 76%.

Look at what Reagan did for income taxes! From 70% down to 28%! Good man.

 

[Mark Kerr]

I am seriously speechless about that 91%. That is simple highway robbery, no doubt about it. I would have left the country if I were wealthy.

Jesus, 91%? That number is so high, I would have been contemplating revolution, muskets and militias style

So that means if one earned $1,000,000 that year, they would have had $91,000 after taxes?

I am seriously going to have to sleep on this...those numbers are like a twightlight zone episode...

 

[Bob Smith]

Youd have to find a chart of the progression of the tax brackets to see at what income level the 91% kicked in. Either way, could you imagine that $1MM income being stolen and leaving you wtih $90k?? Might as well be a bagboy at the grocery store.

 

[Mark Kerr]

I read it, the 91% kicked in after one earned $400K or above.

 

[dolfe1]

I really think the revolt will happen not as we think revolt but in some other way. I mean who would of thought A Pro Wrestler would hold a public office. Or better yet a 6 time Mr Olympia Imigrant with broken english would run the WORLDS 5th largest economy?

The day is comming when the little voices will unite and be the MAJORITY

Those people you speak about are in no way little voices!

 

[Fast Food]

Those people you speak about are in no way little voices!

I'LL HAVE TO AGREE WITH DOLFE HERE....

 

[thick]

there will be a revolt. it may be our grandkids. this country has been on such a downward spiral in my eyes. I firmly believe this. This country has been going downhill way too fast lately. This is my opinion and how I see things. I could go into several situations about how I feel this country has turned to shit. I will start with the faggots and liberals and the war protesters who wouldnt do dick for this country. I guess I could go on and on but it will probably get ugly and not do anything positive for meso.

 

[bigcaboi]

there will be a revolt. it may be our grandkids. this country has been on such a downward spiral in my eyes. I firmly believe this. This country has been going downhill way too fast lately. This is my opinion and how I see things. I could go into several situations about how I feel this country has turned to shit. I will start with the faggots and liberals and the war protesters who wouldnt do dick for this country. I guess I could go on and on but it will probably get ugly and not do anything positive for meso.

NO DOUBT look at Clinton he protested on a Foreign soil and then was voted as the commander and chief of our armed forces. I am not commenting on what he did for our economy just that he was a draft dodging liar. Dont get me into the integrety and morality of the issue.
I will say this the day we take "In God we Trust" off our Money OUR ECONOMY WILL FALL!!!

 

[Bob Smith]

NO DOUBT look at Clinton he protested on a Foreign soil and then was voted as the commander and chief of our armed forces. I am not commenting on what he did for our economy just that he was a draft dodging liar. Dont get me into the integrety and morality of the issue.
I will say this the day we take "In God we Trust" off our Money OUR ECONOMY WILL FALL!!!

Its amazing that Kerry (and others) is bashing Bush for his Natl Guard service, yet supported Clinton who was the first president to have never served!

 

[Crazedlifter]

there will be a revolt. it may be our grandkids. this country has been on such a downward spiral in my eyes. I firmly believe this. This country has been going downhill way too fast lately. This is my opinion and how I see things. I could go into several situations about how I feel this country has turned to shit. I will start with the faggots and liberals and the war protesters who wouldnt do dick for this country. I guess I could go on and on but it will probably get ugly and not do anything positive for meso.

Something's bound to happen if things don't change. I read yesterday in the WSJ about companies and their accounting practices in regards to health care for retirees. Basically they are reducing liabilty by forcing pensioners out of the plan because it is too expensive after monthly payments get to high. And this is even when corporations costs are down!

Health care is definitely gonna be one of the reasons when you find yourself retired and you have no social security and your pension does not even cover the drugs you need to stay alive!

 

[Crazedlifter]

Oh yeah. BS and Hogg got me all interested in reading the journal now.

 

[Bob Smith]

Oh yeah. BS and Hogg got me all interested in reading the journal now.

Best newspaper out there.

 

[Grizzly]

What's this crap about? No one but Mark wants to see me as emperor? Eat my ass, people! I'll remember this and this board is the first place I'll implement my "Reign of Terror".

May the heads begin to roll!

 

[Mark Kerr]

Just remember those that were loyal to your regime all along, your highness!

** Mark kisses Grizzly's ring **

P.S. If you charge anywhere close to 91% taxes, I might just turn on you too!

 

[Grizzly]

Nah, I don't need that much in tax revenue. Just enough to keep my army in tip top shape and have a couple 100MM palaces built.

Then again, keeping my concubines stocked up on the "necessary" shoes and handbags might cost a small fortune.

How about 25% taxes and "Noble Right" to deflower all women on their wedding days?

 

[Rod]

What's this crap about? No one but Mark wants to see me as emperor? Eat my ass, people! I'll remember this and this board is the first place I'll implement my "Reign of Terror".

May the heads begin to roll!

Looks like Grizzly would like other bros to kiss his ass. That seems kind of gay to me.

 

[fidobuster]

Just remember those that were loyal to your regime all along, your highness!

** Mark kisses Grizzly's ring **

P.S. If you charge anywhere close to 91% taxes, I might just turn on you too!

Don't forget that the tax we currently have is a progressive tax meaning that you pay:
15% on the amount earned up to 28.4k
25% from 28.4k to 68.8k
28% from 68.8k to 143.5
33% from 143.5k to 311.95k
and 35% on anything about 311.95k.

so, given this info, hypothetically an individual making 150k (AGI) would pay
approximately 28(.15) + 40(.25) + 75(.28) + 7(.33) = $37,500. so although this person is in the 33% tax bracket they are really only paying 25% in taxes.
just some food for thought.

My opinion is that each person is inevitably going to support taxes that are beneficial to the status class that they fall into. It's almost impossible not to. Therefore , it becomes extremely difficult to convince someone making 150k to convince someone making 40k that they should be taxed the same; and even more difficult to convince someone who has busted their balls getting to a job when they can make six figures to pay more taxes than someone who hasn't been able to do the same.
good luck finding a solution to this problem that will make everyone happy, we've been trying for hundreds of years and still haven't found one. But that's government, always changing. Someone is always going to feel like their getting the short end of the stick.

fidobuster.

 

[Bob Smith]

so, given this info, hypothetically an individual making 150k (AGI) would pay approximately 28(.15) + 40(.25) + 75(.28) + 7(.33) = $37,500. so although this person is in the 33% tax bracket they are really only paying 25% in taxes.
just some food for thought.

And this is before deductions, so you can see how my numbers of 15-17% are pretty accurate (and supported by the IRS numbers, anyway).

good luck finding a solution to this problem that will make everyone happy, we've been trying for hundreds of years and still haven't found one.

I would imagine that people were relatively happy pre-1900s when income taxes were only stolen on an irregular basis and for big things like the Civil War.