St. Louis will drop minimum wage from $10 to $7.70.

[johnsobas]

sethnintendo said:

numberwang said:

 

The top 20% of income earners pay 85% of all income tax, the lower 50% pay nearly no income tax at all.

Somehow the rich managed to survive just fine while getting taxed at a 90% rate under Eisenhower and before him.  I'm sure they are doing amazing at 39% now.

http://www.politifact.com/truth-o-meter/statements/2015/nov/15/bernie-s/income-tax-rates-were-90-percent-under-eisenhower-/

nobody paid the 90%, there was way more deductions and loopholes back then and the 90% tax rate would have been on money over inflation adjusted 3.5million dollars.  Taxes as percentage of GDP did not even go up.  Look at this chart and tell me where the 90% rate did anything.  

http://www.taxpolicycenter.org/statistics/source-revenue-share-gdp