You said:
"Here is where we part ways. The financially fortunate are not fodder for socialists to pillage. Why is it you believe the government knows how to spend the fortunates $$ more wisely or efficiently than those that were smart enough to earn it in the first place ?"
My POINT is that the 'financially fortunate' should and can pay more. Look back to the 90% top rates in the 50's on income over $400,000. The country did okay... When you have hedge fund speculators paying 15% 'carried interest' rates on billions in income, that isn't right in my book....
Historical Income Tax Rates & Brackets
Tax Rates 1
Bottom bracket
Top bracket
Calendar Year
Rate
(percent)
Taxable Income Up to
Rate
(percent)
Taxable
Income over
1913-15
1
20,000
7
500,000
1916
2
20,000
15
2,000,000
1917
2
2,000
67
2,000,000
1918
6
4,000
77
1,000,000
1919-20
4
4,000
73
1,000,000
1921
4
4,000
73
1,000,000
1922
4
4,000
56
200,000
1923
3
4,000
56
200,000
1924
2 1.5
4,000
46
500,000
1925-28
2 1?
4,000
25
100,000
1929
2 4?
4,000
24
100,000
1930-31
2 1?
4,000
25
100,000
1932-33
4
4,000
63
1,000,000
1934-35
3 4
4,000
63
1,000,000
1936-39
3 4
4,000
79
5,000,000
1940
3 4.4
4,000
81.1
5,000,000
1941
3 10
2,000
81
5,000,000
1942-434
3 19
2,000
88
200,000
1944-45
23
2,000
5 94
200,000
1946-47
19
2,000
5 86.45
200,000
1948-49
16.6
4,000
5 82.13
400,000
1950
17.4
4,000
5 91
400,000
1951
20.4
4,000
5 91
400,000
1952-53
22.2
4,000
5 92
400,000
1954-63
20
4,000
5 91
400,000
1964
16
1,000
77
400,000
1965-67
14
1,000
70
200,000
1968
14
1,000
6 75.25
200,000
1969
14
1,000
6 77
200,000
1970
14
1,000
6 71.75
200,000
1971
14
1,000
7 70
200,000
1972-78
814
1,000
7 70
200,000
1979-80
814
2,100
7 70
212,000
1981
8 9 13.825
2,100
7 9 69.125
212,000
1982
8 12
2,100
50
106,000
1983
8 11
2,100
50
106,000
1984
8 11
2,100
50
159,000
1985
8 11
2,180
50
165,480
1986
8 11
2,270
50
171,580
1987
8 11
3,000
38.5
90,000
1988
8 15
29,750
1028
29,750
1989
8 15
30,950
1028
30,950
1990
8 15
32,450
1028
32,450
1991
8 15
34,000
31
82,150
1992
8 15
35,800
31
86,500
1993
8 15
36,900
39.6
250,000
1994
8 15
38,000
39.6
250,000
1995
8 15
39,000
39.6
256,500
1996
8 15
40,100
39.6
263,750
1997
8 15
41,200
39.6
271,050
1998
8 15
42,350
39.6
278,450
1999
8 15
43,050
39.6
283,150
2000
8 15
43,850
39.6
288,350
2001 8 15 45,200 39.1 297,350
2002 8 10 12,000 38.6 307,050
200311 8 10 14,000 35.0 311,950
2004 8 10 14,300 35.0 319,100
2005 8 10 14,600 35.0 326,450
2006 8 10 15,100 35.0 336,550
2007 8 10 15,650 35.0 349,700
2008 8 10 16,050 35.0 357,700
-------------------------------------------------------------------------------- |
