Our current fed tax collections represent 14.4% of our GDP. That's about 4% less than historical averages, at a time when we have only 3 workers for every one retiree. Also, because of compensation in the form of stock options (which are taxed at 15% as capital gains) and the business expense deductions, etc, Warren Buffets of the world are taxed at a lower effective rate than the working class and middle class. That's a fact! "Not fair"? Shove it!
This is very misleading. Currently we have the lowest combination of local/state/federal tax collections since 1950. Currently, our highest marginal tax rate is 35%. Compare that to the highest rates throughout history. Under Eisenhower, the highest tax rate was 91%. Under Nixon, 77%. Ford, 70%. Even Reagan, 50%. Is 35% enough? No. Look at the deficit explosion since the Bush tax cuts of 2001 and 2003. The result? A $14 trillion national debt.
The gov dsn't control GM. Under cap the motive is 2 max $, it is contradictory to say "caps want to give workers the best wage". Use curr. sources. Did u go to a Univ?
Our current fed tax collections represent 14.4% of our GDP. That's about 4% less than historical averages, at a time when we have only 3 workers for every one retiree. Also, because of compensation in the form of stock options (which are taxed at 15% as capital gains) and the business expense deductions, etc, Warren Buffets of the world are taxed at a lower effective rate than the working class and middle class. That's a fact! "Not fair"? Shove it!
MatteoTorgy 10 months ago
This is very misleading. Currently we have the lowest combination of local/state/federal tax collections since 1950. Currently, our highest marginal tax rate is 35%. Compare that to the highest rates throughout history. Under Eisenhower, the highest tax rate was 91%. Under Nixon, 77%. Ford, 70%. Even Reagan, 50%. Is 35% enough? No. Look at the deficit explosion since the Bush tax cuts of 2001 and 2003. The result? A $14 trillion national debt.
MatteoTorgy 10 months ago
The gov dsn't control GM. Under cap the motive is 2 max $, it is contradictory to say "caps want to give workers the best wage". Use curr. sources. Did u go to a Univ?
uclahistory 1 year ago