Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: SilentZ who wrote (708580)	4/11/2013 4:14:06 PM
From: Tenchusatsu	1 Recommendation Read Replies (1) of 1574043

Z, there is no correlation to progressive taxation there. The top tax bracket was 90% back then, but that was on income well over $2.5M in today's dollars, and even then, the rich usually paid no more than 40% thanks to the VERY generous deductions allowed. Like I said, get rid of the deductions. Flat tax on all income above $50K. No more FICA or Medicare tax. Too bad the flat tax will never pass, not just because of bleeding hearts like yourself, but because politicians will never let go of their favorite tool in shaping the economy, which is the tax code. Tenchusatsu

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