Lord N said:
osamanobama said:
Lord N said:
osamanobama said:
Lord N said:
Kantor said:
You can't force the very wealthiest people to pay exorbitant tax rates, because they will just refuse. They'll move elsewhere, or hire yet more people to find loopholes.
|
I'm sorry, but this is bull.
First off, where are they going to go? Every other developed country on earth (as well as some of the underdeveloped countries) has far higher tax rates than the United States. Secondly, the rich had to pay a tax rate of 91% under Eisenhower, and before Reagan's tax cuts, it was 77%, and rich people certainly weren't leaving the country en masse.
This argument gets more ridiculous every time I see it.
|
no they didnt
|
Then how might you explain this?
http://www.taxfoundation.org/publications/show/151.html
Seriously, if you're going to call me out, then at least do research and post sources.
|
you mistaking what the official tax rate was,
and what people actually paid.
you said people paid 91%, they didnt. it was much much much lower than that.
and for the Reagan example do you really want to use the time of Jimmy carter, the time of stagflation as an example of why high tax rates are good?
|
Those are income tax rates, so they ARE what people actually paid. There are also capital gains taxes, which, while lower, would still have been higher back then than what they are today.
I said that the RICH had a tax rate of 91%, which they clearly did. It's right there in plain english for anyone to see. You haven't countered anything that I've said. No matter how you slice it, the idea that the rich will pack up and leave because of higher tax rates is bull, because they had to pay FAR higher tax rates in previous times, and guess what? They didn't go anywhere.
If you want another example, the Clinton years saw some of the highest tax increases in history, and again, the rich didn't flee the country.
As for your last statement, higher tax rates have nothing to do with stagflation. Again, the rich had far higher tax rates in the 50's, 60's, and 70's while the economy was booming, and again, Clinton raising taxes in the 90's didn't exactly destroy the economy.
|
