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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (105235)	5/22/2011 10:57:27 PM
From: Wayners	3 Recommendations Read Replies (1) \| Respond to of 224858

lol that was FDR.

To: Kenneth E. Phillipps who wrote (105235)	5/22/2011 11:33:36 PM
From: chartseer	2 Recommendations Read Replies (1) \| Respond to of 224858

They would say no one ever paid 90% income tax. Corporate rate topped out at 50% so any one in the 90% rate would incorporate and save 40%. citizen chartseer

To: Kenneth E. Phillipps who wrote (105235)	5/23/2011 6:18:47 AM
From: TideGlider	Respond to of 224858

That would kill you Kenneth lol tonto, what would they say about the 90% income tax rate way back when Eisenhower was President 60 years ago?

To: Kenneth E. Phillipps who wrote (105235)	5/23/2011 5:44:04 PM
From: TimF	2 Recommendations Read Replies (1) \| Respond to of 224858

what would they say about the 90% income tax rate way back when Eisenhower was President 60 years ago? I'd say it was an injustice, but one started by FDR and the congress then, not by Eisenhower. Also an injustice that didn't impact many people, even if you took no efforts to avoid tax liability, the 90% rate didn't kick in until what was then a very high level of income, and even the people who could in theory be effected had plenty of motivation and ability to avoid such high tax rates. In addition to an injustice, its also foolishness. Not only are such high tax rates harmful (whether the harm is people paying them, avoiding efforts to make so much because they don't care to have almost all of it taken away, or jumping through government hoops to meet the standards for tax breaks so they can avoid paying that rate), they also produce lower revenue than lower tax rates would produce.