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Old 01-13-2019, 11:33 AM  
HonestChieffan HonestChieffan is offline
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In other words you will be taxed out the ass. And it won't be just the rich.


https://www.washingtontimes.com/news...t-highest-tax/




Democrats eyeing bids for the White House also are competing to see who is willing to go the highest in raising taxes.

Rep. Alexandria Ocasio-Cortez, a New York liberal who is too young constitutionally to become president, nevertheless set a benchmark when she suggested in a “60 Minutes” interview Sunday that rates for the wealthy could top out at up to 70 percent.

Julian Castro, an Obama administration Cabinet official who has announced a testing-the-waters presidential committee, quickly jumped on the bandwagon by telling ABC News that it’s time the wealthy be tapped for their “fair share.”

“There was a time in this country where the top marginal tax rate was over 90 percent,” Mr. Castro said in praising Ms. Ocasio-Cortez’s vision. “Even during Reagan’s era in the 1980s, it was around 50 percent.”

Sen. Elizabeth Warren, a Massachusetts Democrat, who also has formed a presidential exploratory committee, hasn’t committed to a high-water mark, but she too spoke approvingly of major rate hikes.
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Old 01-13-2019, 11:36 AM   #2
displacedinMN displacedinMN is offline
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“There was a time in this country where the top marginal tax rate was over 90 percent,” Mr. Castro said in praising Ms. Ocasio-Cortez’s vision. “Even during Reagan’s era in the 1980s, it was around 50 percent.”
She is also too stupid to realize that this is why Carter was a failure economically and Reagan LOWERED taxes so the US could survive.

Dad took out a loan in 1979 on a piece of farm equipment. 17%. Great for bonds. Bad for loans.

She also does not remember the Reagan phrase "Are you better off than you were 4 years ago?" It won him the election.
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Old 01-13-2019, 11:39 AM   #3
Randallflagg Randallflagg is offline
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Originally Posted by displacedinMN View Post
She is also too stupid to realize that this is why Carter was a failure economically and Reagan LOWERED taxes so the US could survive.

Dad took out a loan in 1979 on a piece of farm equipment. 17%. Great for bonds. Bad for loans.

She also does not remember the Reagan phrase "Are you better off than you were 4 years ago?" It won him the election.


Hell, back then (with Carter), Interest rates hit around 20%.....absolute insanity.
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Old 01-13-2019, 01:36 PM   #4
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Old 01-13-2019, 01:43 PM   #5
Jim Hammer Jim Hammer is offline
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Quote:
Originally Posted by HonestChieffan View Post
In other words you will be taxed out the ass. And it won't be just the rich.


https://www.washingtontimes.com/news...t-highest-tax/




Democrats eyeing bids for the White House also are competing to see who is willing to go the highest in raising taxes.

Rep. Alexandria Ocasio-Cortez, a New York liberal who is too young constitutionally to become president, nevertheless set a benchmark when she suggested in a “60 Minutes” interview Sunday that rates for the wealthy could top out at up to 70 percent.

Julian Castro, an Obama administration Cabinet official who has announced a testing-the-waters presidential committee, quickly jumped on the bandwagon by telling ABC News that it’s time the wealthy be tapped for their “fair share.”

“There was a time in this country where the top marginal tax rate was over 90 percent,” Mr. Castro said in praising Ms. Ocasio-Cortez’s vision. “Even during Reagan’s era in the 1980s, it was around 50 percent.”

Sen. Elizabeth Warren, a Massachusetts Democrat, who also has formed a presidential exploratory committee, hasn’t committed to a high-water mark, but she too spoke approvingly of major rate hikes.
Not seeing anything about taxes being raised except for the wealthy.
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On a seperate (lol) note, Kraft is the owner of the Patriots, they are an American Football team based out of Boston. They unfortunately beat the Chiefs this year in the AFCCG (American Football Conference Championship Game) when our OL(outside linebacker) Justin Houston lined up off sides.
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Old 01-13-2019, 01:47 PM   #6
Lex Luthor Lex Luthor is offline
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It would be nice if BOTH political parties would realize that the tax rates of the late 1990s were ideal. The economy was booming and we were running government surpluses.

Not trillion dollar deficits.

Surpluses.

Then the Bush tax cuts were passed, the economy went into recession, the stock market tanked, and we had our first trillion dollar deficit. The tax cuts were obviously not the sole cause of all of that, but they sure as hell didn't help, and they directly contributed to changing the annual surpluses into horrific deficits.

Returning to a 70% marginal tax rate on upper incomes would be monumentally stupid, and it would be political suicide for the Democrats if they pursue that policy. However, it was also monumentally stupid for the GOP to drastically change the tax code when the economy was booming and the government was running a surplus.
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Old 01-13-2019, 01:47 PM   #7
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Originally Posted by Jim Hammer View Post
Not seeing anything about taxes being raised except for the wealthy.
and why should the wealthy have their taxes raised?
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Old 01-13-2019, 01:49 PM   #8
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Originally Posted by Lex Luthor View Post
It would be nice if BOTH political parties would realize that the tax rates of the late 1990s were ideal. The economy was booming and we were running government surpluses.

Not trillion dollar deficits.

Surpluses.

Then the Bush tax cuts were passed, the economy went into recession, the stock market tanked, and we had our first trillion dollar deficit. The tax cuts were obviously not the sole cause of all of that, but they sure as hell didn't help, and they directly contributed to changing the annual surpluses into horrific deficits.

Returning to a 70% marginal tax rate on upper incomes would be monumentally stupid, and it would be political suicide for the Democrats if they pursue that policy. However, it was also monumentally stupid for the GOP to drastically change the tax code when the economy was booming and the government was running a surplus.
There were only surpluses if you use government accounting and are able to ignore certain liabilities. If you used business accounting then there were no surpluses.
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Old 01-13-2019, 01:52 PM   #9
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Quote:
Originally Posted by GloucesterChief View Post
and why should the wealthy have their taxes raised?
Did I say they should?
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On a seperate (lol) note, Kraft is the owner of the Patriots, they are an American Football team based out of Boston. They unfortunately beat the Chiefs this year in the AFCCG (American Football Conference Championship Game) when our OL(outside linebacker) Justin Houston lined up off sides.
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Old 01-13-2019, 01:52 PM   #10
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Originally Posted by GloucesterChief View Post
and why should the wealthy have their taxes raised?
Dems are pandering to their base: 47% or 53% of lower income (depending on whom you ask) don't pay Fed income taxes. And they have grown to expect the Government to support their lifestyles.

Fairflattax.com
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Old 01-13-2019, 01:53 PM   #11
Lex Luthor Lex Luthor is offline
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Originally Posted by GloucesterChief View Post
There were only surpluses if you use government accounting and are able to ignore certain liabilities. If you used business accounting then there were no surpluses.
If you're referring to the practice of masking the true size of the deficit by embezzling billions of dollars from the Social Security Trust Fund and replacing it with worthless IOUs, I agree with you.

However, that doesn't change the fact that the GOP tax policies since 2000 have added tens of trillions of dollars to the accumulated debt, and a trillion dollars to the yearly deficits.
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Old 01-13-2019, 01:54 PM   #12
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Did I say they should?
Seems like you were making the excuse that it was only those people being targeted. That implies support for the targeting.
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Old 01-13-2019, 01:54 PM   #13
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Originally Posted by Lex Luthor View Post
If you're referring to the practice of masking the true size of the deficit by embezzling billions of dollars from the Social Security Trust Fund and replacing it with worthless IOUs, I agree with you.

However, that doesn't change the fact that the GOP tax policies since 2000 have added tens of trillions of dollars to the accumulated debt, and a trillion dollars to the yearly deficits.
BOTH sides are guilty of this.
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Old 01-13-2019, 01:58 PM   #14
Lex Luthor Lex Luthor is offline
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BOTH sides are guilty of this.
I completely agree. I don't know why you're focusing on that. It's not the problem. It's a shitty and misleading tactic that has been used by both sides for decades, but it's not the cause of the problem we have today.
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Old 01-13-2019, 02:17 PM   #15
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I completely agree. I don't know why you're focusing on that. It's not the problem. It's a shitty and misleading tactic that has been used by both sides for decades, but it's not the cause of the problem we have today.
It is the cause of the problem!

We, the citizens, allow our local reps to get away with kicking the fiscal "can down the road".

Both sides give away more and more to win elections.
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