Showing posts with label The Rich. Show all posts
Showing posts with label The Rich. Show all posts

12/26/2012

Liberal Myth of 91% Tax On the Rich Debunked

Posted by Brian

When talking about raising the tax rates on the rich, liberals loooove to point out that tax rates on the so-called rich during the Eisenhower/Kennedy years were 91%, and that it was a period of general prosperity.  The fact is, tax rates were 91% during that time.  But what they don't tell you is that those rates were not what they actually paid.  Due to deductions and other exemptions (what liberals like to call "loopholes"), literally no one paid a 91% tax rate.  In fact, no one paid anywhere even remotely close to that rate.

Mark Levin addressed this liberal myth on a recent "best of" show, pointing out what the "effective" tax rate was, that is, what people actually paid in taxes.

So what did the "rich" pay as a percentage back during the 50's "boom" economy?

$200,000-$500,000 group:
Tax as Share of Amended AGI (%)
1953 = 45.9
1954 = 39.3
1955 = 36.8
1956 = 37.4
1957 = 38.6
1958 = 36.9
1959 = 33.8
1960 = 33.1
1961 = 31.5

$500,000-$1,000,000 group:
Tax as Share of Amended AGI (%)
1953 = 46.3
1954 = 38.7
1955 = 35.6
1956 = 36.7
1957 = 36.6
1958 = 36.0
1959 = 32.1
1960 = 30.8
1961 = 29.1

Over $1,000,000 group:
Tax as Share of Amended AGI (%)
1953 = 49.3
1954 = 38.8
1955 = 35.8
1956 = 36.1
1957 = 40.0
1958 = 33.1
1959 = 30.6
1960 = 31.3
1961 = 27.2

From The Straight Dope

The highest rate paid during the Eisenhower years was the 49.3% rate paid by those making over $1 million back in 1953.  By 1961, their effective rate was down to 27.1%!  Hardly the 91% that liberals trumpet every time they can get to a microphone.

Myth busted!


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12/05/2012

CA Teachers Piss On Our Children To Protect Their Own Interests

Now THIS is rich!  The California Teachers Association which spends more on elections than any other business, individual or PAC out there, has produced a "fairy tale" video which shows a rich man urinating on a poor person, supposedly illustrating "trickle-down economics".  On top of this, the person the get to narrate this video is the long time leftist, and millionaire, Ed Asner.  In other words, an evil 1%'er.
The only ones pissing on anyone are these marxists and leftists who support policies which keep the poor in a perpetual state of poverty, while educating them with this kind of propaganda.  Apparently for this bunch of marxists, supporting and getting a retroactive tax hike successfully passed in the Land of the Lost, known as the state of California, is not enough.
The unions always preface all of their messages with "do it for the children".  These unions and teachers don't care about the children. They only care about their pensions and benefits, and they are willing to piss on the children to protect them.

Tax the Rich:  An animated fairy tale
 
Tax the rich: An animated fairy tale, is narrated by Ed Asner, with animation by Mike Konopacki. Written and directed by Fred Glass for the California Federation of Teachers. An 8 minute video about how we arrived at this moment of poorly funded public services and widening economic inequality. Things go downhill in a happy and prosperous land after the rich decide they don't want to pay taxes anymore. They tell the people that there is no alternative, but the people aren't so sure. This land bears a startling resemblance to our land.
Posted by Brian
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11/30/2012

Dem 'Gang Of Six': Tax Policy Must Be A "Global System"

Posted by Brian

A new 'Gang of Six', led by some of the most "Progressive" Democrats in Congress, has promised that increasing tax rates on the so-called wealthy is "just the beginning".

Reps. Jan Schakowsky (D-Ill.), Michael Honda (D-CA), Keith Ellison (D-Minn.), John Conyers (D-Mich.), Raúl Grijalva (D-Ariz.), and Barbara Lee (D-Calif) are the new 'Gang of Six', and comprise some of the most leftist members of Congress. All are member of the 'Progressive Caucus', a freak-show which, in addition to those listed above, also includes such intellectual luminaries as Sheila Jackson Lee (video) (D-TX), Pete Stark (video), George Miller (video), and Maxine Waters (video) (all D-CA), Hank Johnson (D-GA), who once expressed concern of Guam "tipping over" from too much military equipment and personnel on the island (video),

When these scumbags say it is only the beginning, believe them.  They know that taxing the rich will have virtually no effect on reducing the deficit, even if they were to confiscate all of their wealth and income.  There simply aren't enough people in this category to have any measurable effect.  This is simply a case of pitting people against each other, "coveting" what others have.  In return , these "Demokrats" promise to punish those who have more, and redistribute it to those with less. But since there are not enough of the rich to close the chasm in the deficit, these leftists will have to redefine the word "rich" to ever lower levels of income. Eventually, people who earn 50 or 60 thousand a year will find that they are now classified as rich.

What's more chilling is their call for a "global" system.  In other words, turning over U.S. sovereignty to the United Nations. This would be a "one-world" system, with the U.N. in charge of confiscating wealth from the wealthiest countries, and redistributing it to those they decide worthy. Instituting programs with benign-sounding goals and names like "combating poverty", and "sustainable development", with a U.N. action plan called "Agenda 21", a U.N. plan for "social engineering" and "communitarianism" on a global scale. Government worthy of a George Orwell novel.

Rep. Allen West was correct in saying that there are a sizable number of these members of Congress who are Marxists.  His so-called inflammatory statement should be common sense for anyone who simply listens to what these people say, do, and advocate for.  All that's required is a knowledge of history, and knowing what the great communists and socialist dictators throughout history have said and done.  For this he was eviscerated in the media for stating out loud what should be obvious to anyone who pays even marginal attention to what these people say.

Are you paying attention?


Liberal Democrats: Higher rates for wealthy 'just the beginning'
By Jonathan Easley - 11/30/12 09:19 AM ET    

A group of House Democrats has formed its own “Gang of Six” to push for progressive tax reform — in which the expiration of the Bush-era tax rates for the wealthiest Americans is “just the beginning.”
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12/01/2011

Chuck Woolery On Taxing The Rich



Posted by Brian