Message from @sɪᴅɪsɴᴏᴛʜᴇʀᴇ
Discord ID: 534780911531851817
wtf I love Ocasio Cortez now
The highest tax rate ever in the United States has been 45%
for personal income tax , top marginal rate
This was the effective tax rate when it was 91% marginal.
For people earning over $3,400,000 inflation adjusted
Yes she wants to do that also, her 70% tax would be a marginal tax for people earning over 10 million a year
Why would you compare a 45% “effective” rate to a 70% marginal rate
It makes more sense to compare the 70% marginal rate to the highest of 94% marginal
@Leo (BillNyeLand) that’s not the point
70% is the top@marginal rate
It makes no difference if that percent isn’t the actual rate being taxed
For example there was a 90% tax rate in 1955 however the effective tax rate was 45%
@chad 10 million?
Where does it say that
It doesn’t matter how high the tax rate is if the effective tax rate is much lower. With these tax rates , most of the taxation was avoided.
That’s why we have such a lower 45% rate.
Oh it is 10 million, however that would be impossible to collect through tax avoidance. So the burden will shift back on the middle class and below
Sounds like a disaster to me and the green new deal is a disaster in itself
Wait how did u find that, I remember I read an article about it like a month ago but forgot where I read it now I can’t find it 😦
@chad about wut
They compare an effective 45% tax rate to a 70% marginal rate because they have nothing better to criticize. It is dishonest, but the lowest common denominator will never figure that out.
Thanks
Yet you’re still comparing a 70% marginal rate to a 45% effective rate on a 90% marginal rate. If your logic carries over, the effective tax rate should be about half 70%, or 35%
@BaneOfThots No I'm saying even as high as 90%, the effective tax rate was 45%
So shouldn’t 70% be even less of a problem
Nobidy denied that
(70% marginal)
What do you mean a problem
I'm just saying theres never been a tax rate higher than 45%
Not an effective tax rate
But a marginal tax rate, yes
Marginal is irrelevant then
Because it's not really paid
or taken
(stole)
It is paid, just not on one’s entire income
And it’s still a greater rate than AOC’s 70%, which is in line with her statement that we’ve had tax rates as high and higher in the past than the ones she’s proposed
Not that I would want a high tax like that
No again
we haven't