S & P Dire Warnings

[piece-itpete]

Originally Posted by BlueStreak

Oooooo, you big government loving capitalism hater you!

Dave

LMAO!

Pete

[Tom Joad]

Originally Posted by piece-itpete

Hey we agree on something, there should be strict enforcement of antitrust laws.

Pete

Nice try, trying to divert the discussion Pete, but that was not what I am talking about as you well know.

We need to redistribute the wealth.

And for starters we need to tax the Hell out out of the rich.

Did you know that in 1942 FDR (the greatest American President of all time, whom you despise) proposed a 100% income tax on all income over $25,000? That would be about $365,000 in today's dollars. And he "settled" for 94% on everything over $200 K. That's about $3 million in today's dollars.

Now that's what I call negotiating!

A 94% income tax on all income over $3 million a year would be awesomely good for our economy.

[piece-itpete]

What was the actual rate?

Pete

[finnbow]

Originally Posted by piece-itpete

What was the actual rate?

Pete

Up to 90%. See footnote 5.

http://www.ntu.org/tax-basics/histor...ividual-1.html

[Bigerik]

Originally Posted by Tom Joad

Nice try, trying to divert the discussion Pete, but that was not what I am talking about as you well know.

We need to redistribute the wealth.

And for starters we need to tax the Hell out out of the rich.

Did you know that in 1942 FDR (the greatest American President of all time, whom you despise) proposed a 100% income tax on all income over $25,000? That would be about $365,000 in today's dollars. And he "settled" for 94% on everything over $200 K. That's about $3 million in today's dollars.

Now that's what I call negotiating!

A 94% income tax on all income over $3 million a year would be awesomely good for our economy.

Yeah, but look at how badly the US economy and people did in the years, and decades after that. We wouldn't want to go to a 1950's type economy, would we?

[Tom Joad]

Originally Posted by piece-itpete

What was the actual rate?

Pete

I guess I should have included links for my sources, although why, I don't know, you hardly ever do. But then I do need to hold myself to a higher standard than you baggers.

http://flaglerlive.com/26685/gc-fdr-and-taxes/

http://www.ntu.org/tax-basics/histor...ividual-1.html

http://www.bls.gov/data/inflation_calculator.htm

[nailer]

Originally Posted by Tom Joad

Did you know that in 1942 FDR ... proposed a 100% income tax on all income over $25,000? That would be about $365,000 in today's dollars. And he "settled" for 94% on everything over $200 K.

Well there was the war to pay for.

[finnbow]

Originally Posted by nailer

Well there was the war to pay for.

We have two to pay for. Somehow, Dubya thought cutting taxes would somehow pay for his wars.

[Tom Joad]

Originally Posted by finnbow

We have two to pay for. Somehow, Dubya thought cutting taxes would somehow pay for his wars.

I believe Dubya, and his handlers knew exactly what they were doing.

Starting two wars on our Bank of China credit card and then cutting taxes for the rich had the double benefit of enabling them to funnel hundreds of billions of dollars to their buddies in the Military Industrial complex while at the same time breaking the federal budget so that they could use that as an excuse to go after Social Security, Medicare, and the safety net.

And as an extra bonus, a black man came along and got elected President, giving them a scapegoat to blame it all on.

[piece-itpete]

Worked beautifully.

How's the stimulus fit into this plan?

Pete