Why is tax so much higher than it was 100 years ago?

[The True Adonis]

Fuck that... so a man that makes 250k a year got to keep 25k? What incentive is there to even make money? How does that make any sense?

It doesn`t.  He even raised 500,000 dollars in 1944 for the United States war bond effort in one day and that was how they repaid him.  In the 50s though, you had the Red Scare and every Jewish man with a bit of money was a target.  Not even fair. Thank the Republicans for that debacle and the 90 percent rate.

[Tapeworm]

I also remember finding a wallet of his in a desk with a card that said "La Kosher Nostra" and I still have a 33rd degree Mason document and the ring from one of his brothers. 

Good one, Hyman.  

[jude2]

Fuck that... so a man that makes 250k a year got to keep 25k? What incentive is there to even make money? How does that make any sense?

No that isn't how it worked. It was 90% only over the high income limit whatever number that was. You young guys didn't know about those days. The really rich really have it made today.

[Jadeveon Clowney]

He wall papered the entire downstairs with 20 dollar bills and then painted over it when the FEDS closed in.  Interesting guy.  He died when I was 3-4 years old, but I remember sitting on his lap and he would write these math problems with strings of numbers and then take his hand and run down the numbers and try to calculate it all in his head by the time his hand to the end.  He would always be very accurate to the real answer when checked by a calculator.

Guess we know who to thank for allowing you to be the white Wiggins. A plague on his house.

[The True Adonis]

No that isn't how it worked. It was 90% only over the high income limit whatever number that was. You young guys didn't know about those days. The really rich really have it made today.

That is how it worked.

[Roger Bacon]

I also remember finding a wallet of his in a desk with a card that said "La Kosher Nostra" and I still have a 33rd degree Mason document and the ring from one of his brothers. 

Damn, you know 33rds aren't like all the 32nds.  To get the 33rd degree you have to have really accomplished something.  I think the State Lodge only selects a few a year.

[littledumbells]

In 1900 at all 3 levels US govt too approx 7 percent of the nations income.

Today that is much much higher.

Can someone explain why?

  military spending and entitlements............ ..that is all

[StuartR]

I like how 90% (no pun intended) of right wing maniacs don't understand the basic concept of MARGINAL tax rates. If the top marginal tax rate is 90% for income over $1,000,000, the second bracket is 40% for $500,000-1,000,000 and the bottom rate is 20% for $0-500,000, a person making $1,000,000 in pre-tax income will take home (500,000-(20%)(500,000)) + (500,000 - (40%)(500,000)) = $700,000.

the MARGINAL tax rate is only effective on portions of income OVER the amount at which they kick in. Hope this helps.

[StuartR]

That is how it worked.

no, it's not. see above.

[deviant]

I like how 90% (no pun intended) of right wing maniacs don't understand the basic concept of MARGINAL tax rates. If the top marginal tax rate is 90% for income over $1,000,000, the second bracket is 40% for $500,000-1,000,000 and the bottom rate is 20% for $0-500,000, a person making $1,000,000 in pre-tax income will take home (500,000-(20%)(500,000)) + (500,000 - (40%)(500,000)) = $700,000.

the MARGINAL tax rate is only effective on portions of income OVER the amount at which they kick in. Hope this helps.

Good post, its not a difficult concept but the amount of people that cant get their head around it is frightening....i have colleagues who wont go for promotion or work overtime....

....in case they go into the next tax bracket and take home less than they do now.

 

Doesnt seem to matter how i explain it they still seem to think a higher tax band applies to all of their earnings and not just the amount above the new threshold....fuckwits.

[OTHstrong]

In 1900 at all 3 levels US govt too approx 7 percent of the nations income.

Today that is much much higher.

Can someone explain why?

We were on horses 100 years ago, there was very few pave roads, very few hospitals, many derived there water from a well, if there was a fire there were no fire trucks to the rescue, no ambulance. No lights at night, no security when travelling long distances, shitty schooling systems, the list is endless for what the government provides now versus what it provided in the past

Sorry bro but we got it made now, taxes for what the government provides is well worth it if you live in the city

[The True Adonis]

no, it's not. see above.

I was agreeing with you.

[jude2]

no, it's not. see above.

I know. I pay enough taxes.

[StuartR]

i have colleagues who wont go for promotion or work overtime....

....in case they go into the next tax bracket and take home less than they do now.

 
]

LOL

[StuartR]

I was agreeing with you.

miscommunication then, my mistake

[OTHstrong]

miscommunication then, my mistake

The way he responded could have meant both ways, I thought he was disagreeing with you too

[StuartR]

The way he responded could have meant both ways, I thought he was disagreeing with you too

yeah, but I should have known he was smarter than that. In any case, the idea that taxes are higher (much less "so much higher") than over the past century is literally backwards, talk about false consciousness

[3Dkiller]

because the Federl Reserve is about as Federal as Federal Express.the whole system of the IRS isn't even run by our own government.it's a privately owned entity backed by the rich oil companies,bankers and military supply conglomerates.no law in our Constitution stating we MUST pay taxes on wages earned yet owe them $1 and they'll kick in your door,remove your kids and steal everything from your last slice of bread to your shit stained underwear till you pay.the biggest mob in history...all backed by the powers of the rich...

+1

[jude2]

The way he responded could have meant both ways, I thought he was disagreeing with you too

He was look at the response to my post.