A Progressive page that totes the Presidents Social Justice agenda.
As I troll through their numerous post (they have a strict policy of reporting trolls...) I discovered a direct link to the Whitehouse website, under a heading of Roll back tax policy to Eisenhower levels.
According to the Petition that is posted to the Whitehouse Website it aims to:
Roll back taxes to the rates of America's Golden Age. The trendy new-fashioned tax rates we've embraced in the recent years have been disastrous for economic growth. It's time to embrace the traditional tax rates that worked for our fathers and our grandfathers.Looking at a list of present-day companies formed in the 50's, it's easy to see that Eisenhower's tax rates created a fertile environment for business.America does not need Avant-garde tax theory: America needs tax rates that have stood the test of time. Roll back taxes to Eisenhower levels.Now, whats ironic is the words "Roll Back". I'd say roll ahead, but thats just me.
But what you don't see in the wording of the petition is this. At what level of income does this petition call for a Roll back on taxes to America's Golden Age.
So with that said, here is the tax rate for income levels from the Eisenhower's Golden Age (1953- 1961):
| Year | $10,001 | $20,001 | $60,001 | $100,001 | $250,001 | $500,001 | $1M |
|---|
| 1954 | 38% | 56% | 78% | 89% | 91% | 91% | 91% |
|---|---|---|---|---|---|---|---|
| 1956 | 26% | 38% | 62% | 75% | 89% | 91% | 91% |
| 1958 | 26% | 38% | 62% | 75% | 89% | 91% | 91% |
| 1960 | 26% | 38% | 62% | 75% | 89% | 91% | 91% |
| 1961 | 26% | 38% | 62% | 75% | 89% | 91% | 91% |
Current Tax Rates:
| Year | $10,001 | $20,001 | $60,001 | $100,001 | $250,001 | $372,950 | $1,000,000 |
|---|
| 2010 | 10% | 15% | 15% | 25% | 33% | 35% | 35% |
|---|
And for a little fun, some comments from the Facebook page, that I found as lunacy.
Our trendy low tax rates have been disastrous. That much is true. Because of them, America can't afford to pay for it's spending. That means more burden is on the safety nets to provide the people with the resources for basic living, which is unsustainable because even as the rich get richer, they pay less taxes to support the government.OK, since when is it the responsibility of the rich to support our Government?
But what stands out is "Can't afford to pay for it's spending".....
THEN STOP SPENDING!
Tax Rate under Pres. Eisenhower was 91% whereas today its only 18% for the wealthy.Can you say CLUELESS DIMWIT!
ALRIGHT, Who's been into my paint chips????The lot of you have over indulged, I'd say!
It isn't fair for 90% of people to be taxed on every dime of earned income while people making over 100K don't.This person OD'd on the paint chips!
Another truth is millionairres do not work harder than you and I. Well, not me anywayWAAAAAAA. I work harder then everyone.
SH*T, these moonbats are off their rocker.
5 comments:
"Spread the wealth". Dumb liberals think they will get paid.
And they say the are highly educated. Yeah, right!
Spread the wealth up! Give it to the Job Creators! So they can make us jobs... I say we don't tax the rich and instead we have forced labor camps for people if they can't afford tax of food. Make them earn it!
As a Conservative- please stop giving us a bad name. Spell check your writing. Also, compare the income/tax relationship with changes in current dollar value- ie; 10k in Eisenhower's time is not equivalent to 10k today. This is due to something called inflation. I suggest you look it up. Also, research the companies and individuals who were sbuject to the 90% tax, and see how they managed not to pay it, but invested in their communities and our national infrastructure (we still enjoy the railway systems they built, partially to keep their actual profit below the mark for the higher tax rate. Investing in the communities and the well-being of their workers also earned them worker loyalty, and higher production levels (something we lack in comparison to the rest of the world today). Think about that next time you check your facebook while at work. The system that existed allowed the average man to save his money and re-invest in property and technology, and it allowed companies to remain profittable in the world market, while strengthening our society (through independently funded social welfare - not through taxes!). The high tax rate encouraged personal and corporate responsiblity - something else we lack today.
Anon, based on your comments, I find it hard to swallow this part of it "As a Conservative"
And the point to the post had nothing to do with dollar value, but rate of taxation. My research has found that back in the "Golden Age" it truly wasn't 91% when you figure in all the deduction both businesses and individuals had. More then today, for average business to save his money and re-invest. Today, business spends 42% of their profits back in to complying with micro- regulation the fed have placed on them.
And lastly
"Spell check your writing" "sbuject"
May I suggest you do the same.
Post a Comment