Quote:
Originally Posted by DTK
Interesting thing about the 50's and 60's, - by any measure the time of greatest American prosperity - the highest marginal tax rates were between 70-91%.
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And there is not a millionaire in the U.S. who actually PAID 70 to 91% of their money to the govt.
Not one. They all used every trick in the book and probably paid less taxes than the millionaires of today (technology wasn't around to catch them as easily back then)
I can't even begin to wrap my head around the 39% tax rate that is being proposed.
Can you?
Can you actually imagine making ONE MILLION dollars this year and then taking no deductions and actually writing a check for $390,000.00 to the U.S. govt. to use to bomb another country?
That's $390,000.00 you COULD have spent on your own family. I can't even imagine it.
And the only reason that the American people aren't outraged is because of the payroll tax. They never even SEE their money so they don't miss it. Then they get a "tax refund" at the end of the year and think it's the greatest thing ever.
Those of us who pay a check every quarter to the feds know better.