ok

😎

https://goo.gl/images/zhggsU

In 1944-45, “the most progressive tax years in U.S. history,” the 94% rate applied to any income above $200,000 ($2.4 million in 2009 dollars, given inflation). In World War Two, tax law revisions increased the numbers of “those paying some income taxes” from 7% of the U.S. population (1940) to 64% by 1944.
Tax Rates of the Mid-20th Century - Teachinghistory.org

https://www.mnn.com/earth-matters/wilderness-resources/stories/muslim-youth-group-cleans-national-parks-government-shutdown?fbclid=IwAR1S0A1v3jS3WiAkMy5gs94wDtBRG3jkXWAToYcy62pvMuqYVqYeiaj6CPU

Based

@Leo (BillNyeLand) the effective tax rate ever however was 45%

It doesn’t matter what tax rate it was in that time. What matters how much tax was payed

With an effective tax rate of 45% that seems not even close to 90%

We can’t look at it in face value, this happens in countries like Denmark etc

The effective tax rate is much lower,

There are so many ways to avoid taxes and it was the case back then in USA

Then shouldn’t the effective tax rate for a 70% marginal rate should be much lower than the effective tax rate for a 90% marginal rate

@Leo (BillNyeLand) Yeah I'm just saying

@BaneOfThots scroll up

@Jack H. Obviously you’ve never gotten disrespect from a Trump supporter if you’re a Trump supporter lol

???

I’m an SJW and my SJW friends don’t treat me like shit I guess that means all SJWs are good people!!!!!

What do you want me to say? Literally nothing that I say will get you to change your mind that Trump is basically a God.

wut

I said the article was bs

and Obama lies

As I said in the other chat. You will dismiss anything that disagrees with your worldview as fake news.

dude

where did I mention fake news

Well I read the article about the Trump debt and I was shocked in the first paragraph, so let’s begin .

**”to 3.5 percent to 4 percent. These projections are above the 2-3 percent healthy growth rate. When growth is more than that, it creates inflation. Too much money chases too few good business projects. Irrational exuberance grips investors. They create a boom-bust cycle that ends in a recession. Trump’s Fiscal Year 2019 budget lowered annual growth rates down to between 2.4 percent and 2.9 percent annually.”**

What a load of horseshit. Growing an economy fast DOES NOT cause inflation. This was seen in Reagan’s economic growths of 7% where inflation was very low compared to the double digits it was in when he entered office( with low growth). What causes inflation is the regulations and taxation’s that pull up costs and then prices. What else causes inflation is the expansion of the money supply.

What it wrote about the boom and bust cycle was garbage. Boom and bust cycles are artificially created by the federal reserve which is central bank that manipulates interest rates by artificially lowering them to “boost growth”.Credit and monetary expansion leads to malinvestments in a boom which is inflationary and a bubble. After a while these investments seem unprofitable and are dropped and a bust occurs. The bust is necessary as the all the malinvestments that took place need to be liquidated.

**”Jobs Act. It cuts the corporate tax rate from 35 percent to 21 percent beginning in 2018. The top individual income tax rate drops to 37 percent. It doubles the standard deduction, and eliminates personal exemptions. The corporate cuts are permanent, while the individual changes expire at the end of 2025. But it won't stimulate the economy enough to make up for lost tax revenue.”**

That’s odd because Trump is reaching 3% annual growth this year and tax revenues have went up since the tax cuts.

`I said the article was bs`

**”According to the Laffer curve, tax cuts only do that when the rates were above 50 percent. It worked during the Reagan administration because the highest tax rate was 90 percent.”**

That’s wrong, the Laffer curve doesn’t have a defined point.

Marginal tax rates for the highest under Reagan were 70% before he cut them. Secondly inflation adjusted tax rates were around 20%. America had NEVER had a tax rate as high as 90%. Inflation adjusted the highest is 70% and the effective tax rate as the highest is 45%. Which is the highest it’s ever been for the top tax rate.(edited)
**”In addition, military spending must also be cut. Obama spent $770 billion in FY 2017. Instead of cutting, Trump added $40 billion. In FY 2019, he asked for an additional $20 billion, taking total military spending to $886 billion. “**

Why military spending, not social security or Medicare which takes up more of the budget? Unlike under Obama, Trump wants the military at tip top shape
In other words the article is complete propaganda and lies

This is why

I said the article was bs

Hence why I said that you will dismiss anything that disagrees with your worldview as fake news.

Dude I explain why

just read it

I did

Alright

thats why

I wrote something above it aswell about the Obama's debt article

I'm aware

thats why

I didn't yell fake news

(Even though theres literally fake news in it, such as the marginal tax rates)