Bernie Sanders
Related: About this forumI just heard the latest anti-sanders talking point
from relatives who listen to BS.
Bernie wants to tax 90 cents from every dollar people make.
This is same people who spread the birther BS and anti-ACA talking points
JackInGreen
(2,975 posts)That shit'll stick.
InAbLuEsTaTe
(24,122 posts)Bernie & Elizabeth 2016!!!
MannyGoldstein
(34,589 posts)He wanted a top tax rate of 91% - and both houses of Congress were controlled by Republicans.
And the country grew like gangbusters.
arcane1
(38,613 posts)Ed Suspicious
(8,879 posts)merrily
(45,251 posts)Critics regarded it as one of the finest U.S. military memoirs, and it was a major financial success as well. Eisenhower's profit on the book was substantially aided by an unprecedented ruling by the U.S. Department of the Treasury that Eisenhower was not a professional writer, but rather, marketing the lifetime asset of his experiences, and thus he only had to pay capital gains tax on his $635,000 advance instead of the much higher personal tax rate. This ruling saved Eisenhower about $400,000.[101]
https://en.wikipedia.org/wiki/Dwight_D._Eisenhower
See also: http://www.forbes.com/sites/davidmarotta/2013/02/28/dwight-d-eisenhower-on-tax-cuts-and-a-balanced-budget/
I think at least part of the reason for the high tax rate during the Eisenhower administration was that the war tax from World War II was still in effect.
http://www.cbsnews.com/news/how-would-you-feel-about-a-94-tax-rate/
IIRC, Kennedy reduced or eliminated it.
Growth was due to a lot of factors other than Eisenhower, too--not the least of which was bringing two of our biggest competitors to their knees and the national highway system conceived by prior Presidents, incl. FDR, which gave rise to a lot of suburban home and commercial building, as well as the construction of the system itself.
(Not a fan of Eisenhower.)
napi21
(45,806 posts)$$ earned OVER a stated amount. i.e. $3 million, $5 million. People hear 90% tass rate and they think "WOW, that idiot wants to take all MY PAYCHECK!"
All the Dems need to explain that fact.
DJ13
(23,671 posts)And theres sufficient loopholes to prevent that level of taxation provided the capital is spent within the US, say by expanding their business (which increases jobs).
It was a true carrot and stick taxation scheme, which built up our middle class while benefiting the 1% at the same time.
lonestarnot
(77,097 posts)Marie Marie
(9,999 posts)hedda_foil
(16,375 posts)WillyT
(72,631 posts)SoapBox
(18,791 posts)That is one of the dumbest stories I've ever heard.