tangerinegreen555
Well-Known Member
When I grew up, the top tax rate was a whopping 91% after you hit $400,000something. I don't remember hearing many complaints because nobody made that much. Through around 1967, the highest paid baseball player made $125,000. Johnny Carson had most of his salary deferred for years through the '60s waiting for a lower tax rate. His lawyers told him they were coming because the wealthy were lobbying for it.
JFK cut the tax rates for the first time. To 67%. From 91%. Think about that a second.
You can Google those old tax rates. And people wonder why we have such income disparity today?
All you would have to do truly secure social security is raise the fucking cap or make it unlimited. If some centerfielder is making $25 million a year, he can afford to pay into SS the whole way up to that $25 million. Especially since the current highest tax rate is 37%. The same tax rate that was once 91% all through the 1940s and 50s.
When Ali fought Frazier in 1971 and they both got $2.5 million, they cleared like $780,000. I remember Ali telling Howard Cosell that on TV. After taxes and expenses he made $780,000. Still an astronomical amount of money in 1971. More than any other sport for a whole season at the time.
I'll never understand what the flying fuck is wrong with heavily taxing rich people making millions a year? They did it before and it worked just fine. They can afford it and still have millions more than the common people.
It takes either a very wealthy person or a complete idiot to support tax breaks for millionaires and billionaires. They've successfully lobbied for our current tax rates over the last 50 years to get them lower. And then they get common buffoons to vote in favor of it by giving them a bag of peanuts for their tax break. The whole tax system has been compromised by the super wealthy. They get what they want because stupid voters let them.
JFK cut the tax rates for the first time. To 67%. From 91%. Think about that a second.
You can Google those old tax rates. And people wonder why we have such income disparity today?
All you would have to do truly secure social security is raise the fucking cap or make it unlimited. If some centerfielder is making $25 million a year, he can afford to pay into SS the whole way up to that $25 million. Especially since the current highest tax rate is 37%. The same tax rate that was once 91% all through the 1940s and 50s.
When Ali fought Frazier in 1971 and they both got $2.5 million, they cleared like $780,000. I remember Ali telling Howard Cosell that on TV. After taxes and expenses he made $780,000. Still an astronomical amount of money in 1971. More than any other sport for a whole season at the time.
I'll never understand what the flying fuck is wrong with heavily taxing rich people making millions a year? They did it before and it worked just fine. They can afford it and still have millions more than the common people.
It takes either a very wealthy person or a complete idiot to support tax breaks for millionaires and billionaires. They've successfully lobbied for our current tax rates over the last 50 years to get them lower. And then they get common buffoons to vote in favor of it by giving them a bag of peanuts for their tax break. The whole tax system has been compromised by the super wealthy. They get what they want because stupid voters let them.
