canceled.2021.3
Former Vice President
In a thread I started this morning, I asked our lefty friends to come up with some areas in which they would cut federal spending. Of course not surprisingly, not a one of them could come up with anything. I even threw them a bone and cut some military spending for them. Still nothing.
https://www.justplainpolitics.com/showthread.php?87963-Thought-experiment-for-our-liberal-friends
And then of course there were these two responses from our good friend GayRod, who apparently just likes to parrot left wing talking points he hears on NPR and PMSNBC and never really does his own research
Now, one of the major complaints from our lefty friends is that this tax cut that passed will "raise taxes on the poor"
So now for the fun part. I picked the year 1955 since GayRod just said 1950s, I thought I would just split the difference. Here are the marginal tax rates from 1955 for people married filing jointly
$0-$4,000 = 20%
$4,000-$8,000 = 22%
$8,000-$12,000 = 26%
$12,000-$16,000 = 30%
$16,000-$20,000 = 34%
$20,000-$24,000 = 38%
$24,000-$28,000 = 43%
$28,000-$32,000 = 47%
$32,000-$36,000 = 50%
$36,000-$40,000 = 53%
$40,000-$44,000 = 56%
$44,000-$52,000 = 59%
$52,000-$64,000 = 62%
$64,000-$76,000 = 65%
$76,000-$88,000 = 69%
$88,000-$100,000 = 72%
$100,000-$120,000 = 75%
$120,000-$140,000 = 78%
$140,000-$160,000 = 81%
$160,000-$180,000 = 84%
$180,000-$200,000 = 87%
$200,000-$300,000 = 89%
$300,000-$400,000 = 90%
>$400,000 = 91%
That is the marginal tax table from 1955 based on 1955 income. What would that look like adjusted for inflation? Well here you go
$0-$36,000 = 20%
$36,000-$72,596 = 22%
$72,596-$108,894 = 26%
$108,894-$145,192 = 30%
$145,192-$181,490 = 34%
$181,490-$217,788 = 38%
$217,788-$254,086 = 43%
$254,086-$290,385 = 47%
$290,385-$326,683 = 50%
$326,683-$362,981 = 53%
$362,981-$399,279 = 56%
$399,279-$471,875 = 59%
$471,875-$580,770 = 62%
$580.770-$689,664 = 65%
$689,664-$798,559 = 69%
$798,559-$907,453 = 72%
$907,453-$1,088,944 = 75%
$1,088,944-$1,270,434 = 78%
$1,270,434-$1,451,925 = 81%
$1,451,925-$1,633,416 = 84%
$1,633,416-$1,814,906 = 87%
$1,814,906-$2,722,360 = 89%
$2,722,360-$3,629,813 = 90%
$3,629,813 = 91%
Now here are the Marginal Tax Rates for 2017 for married filing jointly
$0-$18,650 = 10%
$18,650-$75,900 = 15%
$75,900-$153,100 = 21%
$153,100-$233,350 = 28%
$233,350-$416,700 = 33%
$416,700-$470,700 = 35%
>$470,700 = 39.5%
So GayRod or any other liberal who likes to spout off the leftwing talking point of "lets return to the tax code of the 1950s", do ya really wanna? I say fuck it. Let's do it. Finally the people who haven't been paying their fair share will start.
I mean if you make $18,650 or less a year, your income taxes will fucking double. Isn't that awesome GayRod?
Now you don't get to cherry pick the tax code GayRod. You said you wanted the tax code that meant the tax code in its entirety.
*For full disclosure this does not take into account the myriad of deductions available in the 1950s, so it isn't a complete apples to apples comparison with regards to the effective tax rates of 1955 to 2017. I just wanted to make GayRod look foolish
https://www.justplainpolitics.com/showthread.php?87963-Thought-experiment-for-our-liberal-friends
And then of course there were these two responses from our good friend GayRod, who apparently just likes to parrot left wing talking points he hears on NPR and PMSNBC and never really does his own research
Assess tax rates from the 1950’s for two years and use the income to pay a huge chunk of the debt!
That tax code worked... very low deficit if at all. Let’s go back to the golden age!
Now, one of the major complaints from our lefty friends is that this tax cut that passed will "raise taxes on the poor"
So now for the fun part. I picked the year 1955 since GayRod just said 1950s, I thought I would just split the difference. Here are the marginal tax rates from 1955 for people married filing jointly
$0-$4,000 = 20%
$4,000-$8,000 = 22%
$8,000-$12,000 = 26%
$12,000-$16,000 = 30%
$16,000-$20,000 = 34%
$20,000-$24,000 = 38%
$24,000-$28,000 = 43%
$28,000-$32,000 = 47%
$32,000-$36,000 = 50%
$36,000-$40,000 = 53%
$40,000-$44,000 = 56%
$44,000-$52,000 = 59%
$52,000-$64,000 = 62%
$64,000-$76,000 = 65%
$76,000-$88,000 = 69%
$88,000-$100,000 = 72%
$100,000-$120,000 = 75%
$120,000-$140,000 = 78%
$140,000-$160,000 = 81%
$160,000-$180,000 = 84%
$180,000-$200,000 = 87%
$200,000-$300,000 = 89%
$300,000-$400,000 = 90%
>$400,000 = 91%
That is the marginal tax table from 1955 based on 1955 income. What would that look like adjusted for inflation? Well here you go
$0-$36,000 = 20%
$36,000-$72,596 = 22%
$72,596-$108,894 = 26%
$108,894-$145,192 = 30%
$145,192-$181,490 = 34%
$181,490-$217,788 = 38%
$217,788-$254,086 = 43%
$254,086-$290,385 = 47%
$290,385-$326,683 = 50%
$326,683-$362,981 = 53%
$362,981-$399,279 = 56%
$399,279-$471,875 = 59%
$471,875-$580,770 = 62%
$580.770-$689,664 = 65%
$689,664-$798,559 = 69%
$798,559-$907,453 = 72%
$907,453-$1,088,944 = 75%
$1,088,944-$1,270,434 = 78%
$1,270,434-$1,451,925 = 81%
$1,451,925-$1,633,416 = 84%
$1,633,416-$1,814,906 = 87%
$1,814,906-$2,722,360 = 89%
$2,722,360-$3,629,813 = 90%
$3,629,813 = 91%
Now here are the Marginal Tax Rates for 2017 for married filing jointly
$0-$18,650 = 10%
$18,650-$75,900 = 15%
$75,900-$153,100 = 21%
$153,100-$233,350 = 28%
$233,350-$416,700 = 33%
$416,700-$470,700 = 35%
>$470,700 = 39.5%
So GayRod or any other liberal who likes to spout off the leftwing talking point of "lets return to the tax code of the 1950s", do ya really wanna? I say fuck it. Let's do it. Finally the people who haven't been paying their fair share will start.
I mean if you make $18,650 or less a year, your income taxes will fucking double. Isn't that awesome GayRod?
Now you don't get to cherry pick the tax code GayRod. You said you wanted the tax code that meant the tax code in its entirety.
*For full disclosure this does not take into account the myriad of deductions available in the 1950s, so it isn't a complete apples to apples comparison with regards to the effective tax rates of 1955 to 2017. I just wanted to make GayRod look foolish