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Why we REALLY need Bernie
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13/05/2016 08:39:45
 
 
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12/05/2016 23:39:49
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Forum:
Politics
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Divers
Thread ID:
01636131
Message ID:
01636329
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53
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>I am tired of giving money to a federal government that does not value it the way I do.

No one likes to pay taxes. Even Jesus put the tax collectors below prostitutes on the moral scale.

However, the rich in this country have had their relative tax rates steadily reduced over the past several decades and it shows. Our infrastructure is in terrible shape.

We need to jack up rates on upper incomes- big time- at the federal, state and local levels.

Bernie would start by taking the cap off FICA and Medicare withholdings- great move.
Next, we need to get the inheritance tax on amounts over $10 million close to 90%
Then we need to get the rates on incomes over $1million annually back up into the 90% range where it was when Reagan took office.
One of the unnoticed effects of lower rates was that the value of deductions decreased to the point that businesses and individuals spent a lot less. High tax rates actually increase business spending.

That sounds crazy in today's terms, but that's how things were after WWII, when we had longest sustained boom in the country's history.
Anyone who does not go overboard- deserves to.
Malcolm Forbes, Sr.
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