Old Bookaroo
Silver Member
- Dec 4, 2008
- 4,475
- 3,801
Dave44:
First of all, personal Federal income taxes are at the lowest rates they've been in decades. The top 1% (based on AGI) - heck, the top 5%, pay a marginal tax rate of less than 25%. Half the corporations in America pay no Federal income tax each year. How much lower can their taxes get? Should the government send them money? More corporate welfare?
Half the Federal income tax returns show an AGI of less than $40,000 per year. The problem in America isn't that taxes are too high. Wages are too low.
You skipped the whole messy minimum wage thing Mr. Kennedy fought for.
As for President Kennedy, how about some data? What were the personal and corporate tax rates at the time - and what did President Kennedy propose as new rates?
The American economy did quite well in the 1950's. Many middle-class families enjoyed a good life with one wage earner. There were good, well-paying jobs. Many of them union. Many workers had defined benefit retirement programs. The GI Bill (another pesky Federal government program) provided college education for many - often for the first family member to attend higher education. Ditto for home ownership. The Federal government funded the vast Interstate highway system. And more.
While the highest Federal income tax rate was what - over 90%?
Why can't two working people today provide the same life for their children one worker could in the 1950s or 1960s?
Good luck to all,
~ The Old Bookaroo
First of all, personal Federal income taxes are at the lowest rates they've been in decades. The top 1% (based on AGI) - heck, the top 5%, pay a marginal tax rate of less than 25%. Half the corporations in America pay no Federal income tax each year. How much lower can their taxes get? Should the government send them money? More corporate welfare?
Half the Federal income tax returns show an AGI of less than $40,000 per year. The problem in America isn't that taxes are too high. Wages are too low.
You skipped the whole messy minimum wage thing Mr. Kennedy fought for.
As for President Kennedy, how about some data? What were the personal and corporate tax rates at the time - and what did President Kennedy propose as new rates?
The American economy did quite well in the 1950's. Many middle-class families enjoyed a good life with one wage earner. There were good, well-paying jobs. Many of them union. Many workers had defined benefit retirement programs. The GI Bill (another pesky Federal government program) provided college education for many - often for the first family member to attend higher education. Ditto for home ownership. The Federal government funded the vast Interstate highway system. And more.
While the highest Federal income tax rate was what - over 90%?
Why can't two working people today provide the same life for their children one worker could in the 1950s or 1960s?
Good luck to all,
~ The Old Bookaroo