Dems. Jobs, and a 49% Top Marginal Tax Rate

Several media outlets reported today that Democrats appointed to the "supercommittee" have a plan to raise the top federal marginal tax rate to 49%. Taking state and local taxes into account, top tax rates will go to 79%.

Democrat Party: "Nobody needs to make that much money." "The government needs the money." "We have to keep the promises we made."

Reality: Taxes crush job creation. ObamaCare crushes job creation, because small businesses won't hire people when hiring people places such an onerous burden on their bottom line.

More reality: Democrats, throughout history, have made America less competitive. The auto industry in Detroit collapsed because fat and happy union workers were working less and getting more. In fact, at GM, they were paid not to work. Who wouldn't take that deal?

Still more: The Democrat dream of creating a utopian society of equal outcome is dead. It goes against human nature. There should be a minimal safety net, for those who truly can't take care of themselves. For everybody else, guess what: China and India are coming for your jobs. You can cling to this ridiculous dream of retiring at 55 when you drove a bus for a living on the backs of honest working people, or you can realize that your model never worked at all.

Still more reality: the baby boom generation, with few exceptions, sucks. You leeches and maggots - not all of you, but you know who you are - took economic prosperity and success away from your children and grandchildren. And now that your ridiculous, socialist ideology has been declared dead on arrival, you freaking free love hippies fight harder than ever to protect it, and protect your comfortable life, bought on the backs of your children. And you're working so hard to prevent this country from becoming what it has been for all but a blip in its history: a center-right nation.

My suggestion to you is, if you want your social security, Medicare, and Medicaid, then endorse economic policies that will generate the necessary tax revenue to keep you in the lifestyle you clearly think you're entitled to. In other words, you had your chance to run the country, and you failed. Your entire generation is a waste of oxygen. It is long past time for you to step aside.

Originally posted by sasquatch672
Several media outlets reported today that Democrats appointed to the "supercommittee" have a plan to raise the top federal marginal tax rate to 49%. Taking state and local taxes into account, top tax rates will go to 79%.

Democrat Party: "Nobody needs to make that much money." "The government needs the money." "We have to keep the promises we m ...[text shortened]... ntire generation is a waste of oxygen. It is long past time for you to step aside.

More reality - I was born in 1955, since then there have been more GOP presidents than Dems. Blame goes both ways.

Originally posted by sasquatch672
Several media outlets reported today that Democrats appointed to the "supercommittee" have a plan to raise the top federal marginal tax rate to 49%. Taking state and local taxes into account, top tax rates will go to 79%.

Democrat Party: "Nobody needs to make that much money." "The government needs the money." "We have to keep the promises we m ...[text shortened]... ntire generation is a waste of oxygen. It is long past time for you to step aside.

A top marginal tax bracket of 49% isn't so bad (where did 79% come from?? no state's taxes are that high) if the start of that bracket is high enough. If, for example, the 49% bracket starts at $5m of income, then big deal? You think it really helps the economy that a major CEO only gets to keep $22 million and not $25 million? That has nothing to do with jobs at all because salaries paid to employees are tax deductible in any case.

Originally posted by badmoon
More reality - I was born in 1955, since then there have been more GOP presidents than Dems. Blame goes both ways.

Presidents aren't kings. It takes Congress too and Democrats have long had power in Congress during your lifetime.

Having said that, both sides are to blame. GW was quite the Progressive.

Originally posted by badmoon
More reality - I was born in 1955, since then there have been more GOP presidents than Dems. Blame goes both ways.

A bit more reality. Programs, especially social entitlements, almost never go away, no matter who is elected to Congress or the Presidency. The same is true of bureaucracies and their regulations, effective or not, relevant or not, they go on forever.

The blame, I'm afraid goes to the people who are blissfully to self indulgent to reject the latest goodies promise by government, and vote against the free lunch promises.

Originally posted by sasquatch672
Several media outlets reported today that Democrats appointed to the "supercommittee" have a plan to raise the top federal marginal tax rate to 49%. Taking state and local taxes into account, top tax rates will go to 79%.

Democrat Party: "Nobody needs to make that much money." "The government needs the money." "We have to keep the promises we m ntire generation is a waste of oxygen. It is long past time for you to step aside.

China and India hire people like me. 😉

So do Jews, Koreans, Central American immigrants...

In fact the only ones who never seem to hire me are the [COMMENT REMOVED DUE TO ETHNIC PREJUDICE]

Baby Boomer hippies are harder to demonize when you look at the world they were born into and how they improved it. Things like discrimination, a recent history of World Wars, etc.

The top marginal tax rate in the US was 70% or higher during about 5 decades in the 20th Century. 49% is too low.

Yeah, I think there's some very sloppy and/or selective math going into that 79% rate.

"More reality: Democrats, throughout history, have made America less competitive. The auto industry in Detroit collapsed because fat and happy union workers were working less and getting more. In fact, at GM, they were paid not to work. Who wouldn't take that deal?"

And the Democrats won WWII while the Republican party wanted to leave Hitler alone.

Originally posted by KazetNagorra
The top marginal tax rate in the US was 70% or higher during about 5 decades in the 20th Century. 49% is too low.

When marginal tax rates were very high, there were also selective tax deductions, credits and rebates. That's why the damned tax code is about twice as long as the Bible, and not even the most competent IRS investigators know all of it.

How about simplification? How about before asking the people who already pay the most to pay more, ask the deadbeats to pay something, or at least get off the teat?

Originally posted by kbear1k
"More reality: Democrats, throughout history, have made America less competitive. The auto industry in Detroit collapsed because fat and happy union workers were working less and getting more. In fact, at GM, they were paid not to work. Who wouldn't take that deal?"

And the Democrats won WWII while the Republican party wanted to leave Hitler alone.

Keep it simple. Bastiate in "the Law" does so. Legal Plunder is when you take something from someone who earned it, and give it to someone else.

The rationalizations for doing so don't alter the facts, any more than the motives of a regular armed thief do.

"Legal Plunder is when you take something from someone who earned it"

Define "earned it" - it's not right when CEOs sit on each other's compensation committees and give themselves huge salry increases even if they do a terrible job. It's not right when the advantages of globilization (which I'm neutral on) are not passed down to the rank and file in an organization but instead go to a select few at the top of an organization. We do not have Capitalism in this nation. Rather we have crony capitalism where the majority of the benefits are garnered by a select few at the top. In the past more agrarian societies it was called serfdom.

Originally posted by normbenign
Keep it simple. Bastiate in "the Law" does so. Legal Plunder is when you take something from someone who earned it, and give it to someone else.

The rationalizations for doing so don't alter the facts, any more than the motives of a regular armed thief do.

Arbitrarily calling something X and then saying X is bad. Solid reasoning there.

Originally posted by normbenign
Keep it simple. Bastiate in "the Law" does so. Legal Plunder is when you take something from someone who earned it, and give it to someone else.

The rationalizations for doing so don't alter the facts, any more than the motives of a regular armed thief do.

Rent is Legal Plunder.

Originally posted by AThousandYoung
Rent is Legal Plunder.

That's just idiotic.