Does anyone else out there think it's kind of ludicrous that the Fat Cats are bellying aching about Obama's plan to tax people that make over $250,000 a year at the same rate that Ronald Reagan did?
They are calling it Socialism now, but when Reagan did it they called it an economic miracle.
Looks to me like the fatties don't want to pay a penny. They want everyone else to get stuck with their share of the load.
Its a repeal of the Bush tax cuts on the wealthy. Its nothing more than what they were paying 10 years ago.
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Originally posted by Nik
Its a repeal of the Bush tax cuts on the wealthy. Its nothing more than what they were paying 10 years ago.
It's not even a repeal...he's just letting them expire.
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Originally posted by Hometown
They are calling it Socialism now, but when Reagan did it they called it an economic miracle.
Reagan cut the rates. Allowing the Bush cuts to expire would increase rates. Tax revenue went up after the Reagan cuts. Unfortunately, the congress spent it even faster.
Would you be happy to return to 1980 tax rates? Married filing jointly the rate for the $ between $85,600 to 109,400 was 59%. The rate for $215,400 and over was 70%. Ah, for the good old days.