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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 (163852)	12/27/2013 3:19:54 PM
From: longnshort	2 Recommendations Recommended By Honey_Bee lorne Respond to of 224757

no they did hurt the economy, JFK said that in a speech and that's why he lowered the top rates are you disagreeing with John F Kennedy ? how does this taste Kenny ?

To: Kenneth E. Phillipps who wrote (163852)	12/28/2013 12:00:27 PM
From: longnshort	5 Recommendations Recommended By Carolyn Honey_Bee locogringo Thehammer Wayners Respond to of 224757

Agent: Bandits Who Killed Brian Terry Worked for Obama FBI in ‘Fast and Furious’ Scheme 8 tpnn obama is a murderer

To: Kenneth E. Phillipps who wrote (163852)	12/28/2013 12:42:55 PM
From: longnshort	1 Recommendation Recommended By Thehammer Read Replies (1) \| Respond to of 224757

Massachusetts, the model for Obamacare, has highest health costs in the United States 8 washexam

To: Kenneth E. Phillipps who wrote (163852)	12/28/2013 8:31:29 PM
From: Wayners	2 Recommendations Recommended By Honey_Bee TideGlider Respond to of 224757

Crazy. Taxes are cost and burden on investment. Risk v. Reward. Taxes increase the risk and decrease the reward acting as a force against investment.

To: Kenneth E. Phillipps who wrote (163852)

12/29/2013 12:51:08 PM

From: tonto

3 Recommendations

Recommended By
locogringo
TideGlider
Wayners

Read Replies (1) | Respond to of 224757

Kenneth, your lack of knowledge regarding effective tax rates is astounding...

Taxes on the rich under President Eisenhower

Liberals often claim that the rich paid a 91% income tax rate during the Eisenhower years, and while it is true that the top marginal rate was 91% from 1954 to 1963 that is not what matters. The important part is how much the rich actually paid.

Here were the effective individual income tax rates of the 3 very high income AGI groups.

$200,000-$500,000 group: Tax as Share of Amended AGI (%)

1953 = 45.9
1954 = 39.3
1955 = 36.8
1956 = 37.4
1957 = 38.6
1958 = 36.9
1959 = 33.8
1960 = 33.1
1961 = 31.5

$500,000-$1,000,000 group: Tax as Share of Amended AGI (%)

1953 = 46.3
1954 = 38.7
1955 = 35.6
1956 = 36.7
1957 = 36.6
1958 = 36.0
1959 = 32.1
1960 = 30.8
1961 = 29.1

Over $1,000,000 group: Tax as Share of Amended AGI (%)

1953 = 49.3
1954 = 38.8
1955 = 35.8
1956 = 36.1
1957 = 40.0
1958 = 33.1
1959 = 30.6
1960 = 31.3
1961 = 27.2

SOURCE: William Williams, The Changing Progressivity of the Federal Income Tax, National Tax Journal (1964)

Quote:

In 1954, for example, the 0.3 percent of the taxpayers with more than $40,000 AGI reported almost $13 billion in AGI (including 100 percent of capital gains but excluding exempt interest); yet their effective tax rates ranged from as little as 27 percent to 39 percent—far from the infamous rates conjured up by the Code tables.

SOURCE: Eisenhower-Era Marxist-Confiscatory Taxation: Requiem for the Rhetoric of Rate Reduction for the Rich

ir.uiowa.edu

So the rich really didn't pay anything close to 91% during the Eisenhower years, and their effective tax rate was steadily reduced.