Quote:
Originally Posted by gimpy117
sure, % collected from the rich are at an all time high, but its not because "were soaking the rich" its because the rich are making crazy amounts of money. Tax rates are at 35%. They used to be much much higher...like 70-80%..but now it's 35% and they have the lion share of taxes. Why is that? Because wages for the average american have stagnated, but the top earners have seen much growth.
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Sigh.
The top marginal rate was that high—BUT NOBODY PAID IT.
Get that through your head. No one paid that tax rate. The tax system is so full of loopholes (fewer NOW), that the rate was 70%, but the "rich" still paid the same EFFECTIVE rate they do now.
The PERCENTAGE the rich pay is at a high. Not the amount. It has squat to do with "stagnation" since the lower 60% already pay basically nothing (the middle 20% matter slightly, but pull way less than their share, and the bottom 40% pay nothing). The rich pay more for a number of reasons. Fewer loopholes (and AMT), and yes, more taxpayers in the "rich" bracket as well. The lower classes are paying an all time low in income taxes. Literally less than zero for many.
Seriously, post about taxes when you grow up and pay some. Your posts on these subjects come off as if they were written by a teenager incensed about not having mommy and daddy giving them a cool enough car.