Should we return to the pre-Reagan tax-rates of 70% ?

[kentuck]

What have we benefited from cutting taxes on the wealthy? We have not become a wealthier nation. It seems that the wealthy and the corporations took that "extra" wealth and gave it to their CEOs and executives as bonuses or used it to build plants overseas, causing America to lose its manufacturing base. What positive can you name by cutting taxes from the 70% tax rate??

[w4rma]

1. Yes. (nt)

[phantom power]

2. I think it's a great idea.

As you say, most of that money ended up in numbered accounts in Switzerland or the Caiman islands.

The years when we had a 90% tax rate on the highest brackets were the most productive in US history. And I don't recall that there was any shortage of rich people even then. And mysteriously, none of them stopped working because they were being taxed at a high rate, like we are repeatedly warned these days.

[Donnachaidh]

3. we need to get rid of *corporate personhood*

If that was a person, I'd advocate burning at the stake.

Take away THAT, and tax them at a minimum of 70%.

[fed_up_mother]

4. NO. First off, there's no national loyalty anymore, and "they" would all move offshore

If we can talk about moving to Canada, the uber wealthy can relocate as well.

We're living in different times. Many here right on FR have no loyalty to our country - in good times or bad. They'd just as soon do away with borders. Do we really think the wealthy are going to be any different?

[kentuck]

7. They usually move to where they can get people to buy their junk...

or, sometimes, good products. It's about consumerism. America has always been the #1 consumer nation in the world.

[donco]

9. Many here right on FR ??? nt

[dana_b]

11. I noticed that too.

do not insult us, please!!

[fed_up_mother]

19. I was just over at FR.

I'm a glutton for punishment. I want to read what they have to say about Michelle's portrait.

Actually, just five years ago I used to be a Republican, but FR did as good a job as any in their support for the war to drive me out of the party.

[donco]

21. Go forth my son

and sin no more.;-)

[dana_b]

24. aw, got it!

glad that you came to your senses!

[fed_up_mother]

25. Well, it was the war and healthcare that did it.

I've always been fairly moderate, but I leaned right. Now, I lean left. I'm all in favor of more European-type socialism, but definitely not as far to the left as many here.

[Donnachaidh]

18. and THEY should be refused access to the American Consumer

I'm not willing to get on my knees just because someone has *threatened* to take their toys and go away. The FACT remains WE are the best consumers they have. And if THEY want to keep that, they'll start paying taxes and start bringing jobs BACK to this country.


"Many here right on FR have no loyalty to our country" WTF is this?

[fed_up_mother]

20. Many of the wealthy in this country don't manufacturer anything

They can easily move their main domicile offshore.

The rates should be increased greatly, but not to the point of 80 or 90% at the top brackets.

[Donnachaidh]

26. the wealthy survived that rate during and after the Depression

Why should these generations not be taxed the same? Do we treat these crybabies any different? Many of the wealthy in this country are making their wealth off the banks, and other global corporations. And their number one customer is US. The US consumer.

Tax them till they bleed. They've driven our economy over the edge. If they don't like it LEAVE. But leave -without- your real estate holdings, your businesses etc.

They've left us with nothing. It's TIME they paid.

[aquart]

5. Yes.

[dkofos]

6. YES

YES


YES

[kentuck]

8. And furthermore...

Those that produce nothing, such as high paid radio talk show hosts and spoiled athletes, should pay an even higher rate.

[dana_b]

12. and overpaid movie stars. n/t

[dana_b]

10. yes.

there is a risk of corporations leaving but the jobs are going overseas anyway. We may move back to the society of the "mom and pop" store.

[corpseratemedia]

15. I'd like that...I miss those.

[dana_b]

16. I'd like to experience it

I haven't since I was really little (younger than 5). Since then it's been all big stores and malls.

[infidel dog]

13. There have been no positive results from dismantling progressive income taxes.

We now have the grossest inequality of wealth since the first age of the Robber Barons, and perhaps since Georgian England.

[Ernesto]

14. Works for me!

[960]

17. We need to do things alot more dramatic than anything being proposed in

Washington.

End corporate person-hood.

Enforce corporate taxes, end shelters and loopholes.

A straightforward budget readily available to the public. Cut government waste and let everyone know where the money is going and why it is needed.
Americans are happy to pay taxes if they get a good bang for their buck and aren't buying $6k hammers and gold toilets for fat cats in the Pentagon.

EVERYONE must be on the tax rolls, even if they only pay $1.00 - they need to be involved and have an ownership stake in our country.

There needs to be tax CUTS for the middle class (in the broad sense of the term) up to 150K single 275K jointly

Clean up the tax code, end ridiculous deductions and credits, and expand credits for programs/purchases that HELP (Green jobs, -- hell any jobs)

RAISE the marginal tax rate by adding several more brackets. Yes, I think that 70% would be a good idea for income over 2 million a year with several more brackets between current top and that level.

Estate tax: none on first 5 million. 75% on all above that.

The goal needs to be to create a prosperous middle and upper middle class with an opportunity for wealth and to live the American dream, while keeping a few families from becoming super rich at the expense of the national economy (and political structure).

[fed_up_mother]

22. End corporate person-hood. YES! Save money. Save lives.

Sociopaths can knowingly make unsafe products that injure and kill people with no liability to themselves. THAT IS WRONG.

I agree with much of what you wrote. But, again 75% estate tax will drive the wealthy out of the country.

[960]

23. That may be true, but those people are already using

illegal shelters to protect their wealth. We've got to crack down on them. If they want to keep their money off shore and take it out of the country to avoid taxes they can't have the rights and privileges of Americans. No citizenship and no business dealings here. The system needs serious reform.

[Donnachaidh]

27. fast fix for that -- JAIL TIME for not only the wealthy hiding wealth, but harder time

For anyone found helping them do so.

And not the Club Fed jails, either. Toss them facilitators in Rykers, or some other real jail.

[fed_up_mother]

29. They don't have to hide it if they just move out of the country.

[Donnachaidh]

33. already answered that *urban fearmongering* up post.

:eyes:

[960]

32. Yep.

[Kansas Wyatt]

28. 70% tax rate, with closed loopholes...

It's NOT the tax itself that drives the economy. It's the indirect effect it will have on the rich to invest more money into the economy. The rich will not want to pay 70%, so they will make investments to keep from paying high tax rates and keep ownership of their high earnings. This in turn, expands the economy and provides more and higher paying jobs.

People would be shocked at the rate in which foreign investors have taken over United States industries, just as much as some industries have been allowed to decay, because over the last 25 years, there has been NO incentive for the rich to invest money back into this country.

[kentuck]

35. Bingo !

Right on!

[Raineyb]

30. Yes. n/t

[OPERATIONMINDCRIME]

31. No Way In Hell.

Such tax rates are completely insane.

[fed_up_mother]

34. Exactly. We want people to invest their megabucks in our economy

to create more jobs, but first get rid of the insane paper investments that did nothing but destroy our economy. Force them to use the money to invest in REAL job creation instead of cooked up schemes that only benefit the few. They'll invest in real job creation again if they can't make a quick buck like they've done the last couple of decades.

[kentuck]

36. Can you name one positive development from lowering the rates...?

from 70% t0 32%? What part of our society is better off, except for the CEOs of huge corporations? Can you name one??