View Poll Results: Do you think Obama wants to redistribute wealth?

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  • Yes

    96 80.00%
  • No

    24 20.00%
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Thread: Do you think Obama wants to redistribute wealth?

  1. #321
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    Re: Do you think Obama wants to redistribute wealth?

    Quote Originally Posted by Fruityfact View Post
    Great argument..bravo turtle i expect nothing less from ya.
    Anyways i'm not advocating for tax rates like that anyways.
    The point being that our current tax bracket is LOW..trickle down itself was redistribution of wealth

    tax revenue, as a percentage of GDP in 1955 ( under the old 20-90% marginal rates) was 7.3% for individuals, 4.5% for corporations
    in 2011... it was 7.3% for individuals, 1.2% for corporations

    the high for individuals was in 2000.. at 10.2% of GDP
    the high for corporations was in 1945 at 7.2% of GDP

    Historical Source of Revenue as Share of GDP

  2. #322
    global liberation

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    Re: Do you think Obama wants to redistribute wealth?

    Quote Originally Posted by Fruityfact View Post
    First, anything above 400k would be taxed at 90% because we have progressive taxation.
    But regardless as turtle mentioned earlier the effective tax rates were no where near as high as the marginal rates
    I know what progressive taxation is, I went to HS. My question is, what tax rates did 20k, 30k and 50k pay? Those are probably more relevant. See, 90% is ridiculous and most people agree. But was the middle class actually paying income tax back then? If so, that's the lesson to learn from that particular past.

  3. #323
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    Re: Do you think Obama wants to redistribute wealth?

    Quote Originally Posted by Thrilla View Post
    tax revenue, as a percentage of GDP in 1955 ( under the old 20-90% marginal rates) was 7.3% for individuals, 4.5% for corporations
    in 2011... it was 7.3% for individuals, 1.2% for corporations

    the high for individuals was in 2000.. at 10.2% of GDP
    the high for corporations was in 1945 at 7.2% of GDP

    Historical Source of Revenue as Share of GDP
    Thanks for the numbers..They help show that the burden is increasingly falling on those not in the top tax brackets or those not being a large corporation(which i personally think is bad)
    Men do what they have to when they want to, Great men do what they have to, even when they don't want to.

  4. #324
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    Re: Do you think Obama wants to redistribute wealth?

    Quote Originally Posted by ecofarm View Post
    So if one made 200k, one took home 20k after federal income tax alone was deducted? I don't believe that. What would be the point of working anything but a menial job that one doesn't have to care about.

    What was the tax bracket on 30k? Would I net the same?!

    only earning over 400k are taxes at 90%... the earnings below 400k were taxed at 23 different rates.

    you make 30 k...
    ok...

    from 0 to 2,000 - 22,2%
    from 2,001 to 4,000 -24.6%
    from 4,001 to 6,000 - 29%
    from 6,001 to 8,000 - 34%
    from 8,001 to 10,000 -38%
    from 10,001, to 12,000 -42%
    from 12,001 to 14,000 - 48%
    from 14,001 to 16,000 - 53%
    from 16,0001 to 18,000 -56%
    from 18,001 to 20,000 - 59%
    from 20,001 to 22,000 - 62%
    from 22,001 to 26,000 - 66%
    from 26,001 to 32,000 - 67%

    you first 2k was taxed at 22.2 %, the 2nd 2k was taxed at 24.6%.. and so on and so on... until you reached the 67% bracket on your final 4 grand

    this is all before deductions, of course... these are marginal rates, not effective rates.

  5. #325
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    Re: Do you think Obama wants to redistribute wealth?

    Quote Originally Posted by Navy Pride View Post
    What do you think and why would he want to do that?
    I think Obama knows that America must have a robust Middle Class. How he goes about that is problematic unless he can change the tax incentives so US profits abroad are repatriated for investment HERE in the US.

  6. #326
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    Re: Do you think Obama wants to redistribute wealth?


  7. #327
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    Re: Do you think Obama wants to redistribute wealth?

    Quote Originally Posted by Navy Pride View Post
    What do you think and why would he want to do that?

    Could you define this "redistribute wealth" for me? What exactly do you mean? Give less corporate welfare and more social welfare?
    Alex Carey:

    ... the 20th century has been characterized by three developments of great political importance: The growth of democracy, the growth of corporate power, and the growth of corporate propaganda as a means of protecting corporate power against democracy.

    Australian social scientist, quoted by Noam Chomsky in World Orders Old and New

  8. #328
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    Re: Do you think Obama wants to redistribute wealth?

    How can anybody say no tho this question?

    Obamacare takes money from people that can afford health care and gives it to people that can't

    That is the definition of redistribution.

  9. #329
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    Re: Do you think Obama wants to redistribute wealth?

    Quote Originally Posted by Thrilla View Post
    from 0 to 2,000 - 22,2%
    from 2,001 to 4,000 -24.6%
    from 4,001 to 6,000 - 29%
    from 6,001 to 8,000 - 34%
    from 8,001 to 10,000 -38%
    from 10,001, to 12,000 -42%
    from 12,001 to 14,000 - 48%
    from 14,001 to 16,000 - 53%
    from 16,0001 to 18,000 -56%
    from 18,001 to 20,000 - 59%
    from 20,001 to 22,000 - 62%
    from 22,001 to 26,000 - 66%
    from 26,001 to 32,000 - 67%

    you first 2k was taxed at 22.2 %, the 2nd 2k was taxed at 24.6%.. and so on and so on... until you reached the 67% bracket on your final 4 grand.
    Hahaha

    Let people graph/show THOSE rates and see what people think about it, instead of just a little graph with the top.

  10. #330
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    Re: Do you think Obama wants to redistribute wealth?

    Quote Originally Posted by Mason66 View Post
    How can anybody say no tho this question?

    Obamacare takes money from people that can afford health care and gives it to people that can't

    That is the definition of redistribution.
    Heathcare costs have sky rocketed because of cost shifting...

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