http://www.taxfoundation.org/files/fed_individual_rate_history-june2010.pdf
2010 top rate (over $373,650 for married filing jointly) 35%
2009 top rate (over $372,950 and start of Obama Presidency 35%
2001 top rate (over $297,350 and start of Bush Presidency) 39.6%
1993 top rate (over $250,000 and start of Clinton Presidency 39.6%
1989 top rate (over $155,320 and start of Bush Presidency 28%
1981 top rate (over $215,400 and start of Reagan Presidency 70%
1977 top rate (over $203,200 and start of Carter Presidency 70%
1964 to 1976 top rate (over $200,000) 70%
1954 to 1963 top rate (over $400,000) 91%
The economy was chugging along fine during the 50s, 60s, and 70s with income tax rates on the wealthy very high. Please make the argument that a less than a four percent tax hike on the top tax bracket is going to ruin the economy.
Quote from: RecycleMichael on September 19, 2011, 02:14:14 PM
http://www.taxfoundation.org/files/fed_individual_rate_history-june2010.pdf
2010 top rate (over $373,650 for married filing jointly) 35%
2009 top rate (over $372,950 and start of Obama Presidency 35%
2001 top rate (over $297,350 and start of Bush Presidency) 39.6%
1993 top rate (over $250,000 and start of Clinton Presidency 39.6%
1989 top rate (over $155,320 and start of Bush Presidency 28%
1981 top rate (over $215,400 and start of Reagan Presidency 70%
1977 top rate (over $203,200 and start of Carter Presidency 70%
1964 to 1976 top rate (over $200,000) 70%
1954 to 1963 top rate (over $400,000) 91%
The economy was chugging along fine during the 50s, 60s, and 70s with income tax rates on the wealthy very high. Please make the argument that a less than a four percent tax hike on the top tax bracket is going to ruin the economy.
It's already ruined. There.
They can't because it won't. It will actually help a lot because the people who are looking at our fiscal crap will be reassured and the economy will stabilize and do well. The problem with that is it is directly opposite what the 1%ers want. They will never be hurt by anything the economy does anyway, so mostly don't really care about dislocation for the rest of us. What is critical is to put the squeeze on the 99% so they will vote for the next tea bagger they want to put up in front of you. So they can get more tax cuts, preferential treatment, etc.
Michael, it's well established that reality has a liberal bias. Besides, whatever facts are presented and however interesting they may be, those facts are irrelevant.