Posted on 06/12/2025 7:22:23 AM PDT by DIRTYSECRET
“Essentially, the 70% tax bracket at $105,000 in 1980 put an artificial cap on salaries, and once it was ended, salaries took off for athletes, entertainers, CEOs and small business owners........more money was created, and they did not get the money by stealing from or by exploiting others.”
I have the memory of my father saying in 1979 that he paid a 50% rate on his income.
I know people in their 70’s who have part-timed their way to poverty in old age but still subsist with their “benefits”. One of them said 40 years ago, “I’ll never work a full-time job. He succeeded.
“I have the memory of my father saying in 1979 that he paid a 50% rate on his income.”
He paid 50% or more on his income above a certain level. My dad stopped taking contract work in the fall of about ‘65 because he hit the 91% level.
**We really have created destructive social policies that I used to think were just the result of well-meaning incompetence.**
I had an economics professor who said the government should bury a million dollars in a canister in an open field and pay people to go looking for it. The finder keeps the money. Perhaps it would work with the welfare payments. At least they’d go home too tired to cause trouble.
Families on welfare tend to expand and the spawn of the family becomes another welfare family and they continue to grow and grow. They need to be made to break the habit. It’s like the old “Don’t Feed The Bears” signs at Jellystone. Welfare families are usually referred to as garbage dump bears.
As to stars passing and the tributes for them, so much is seen "better with age." A classical musician a century compared musicians to pigs, saying they were better "after" the sausage was made.
There's a Big Bang Episode where in the eidetic memory genius couldn't quite recall the tune -- and therefore the lyrics. Brian Wilson....
There are two major living cost problems in this country: housing and health care.
The educational system is also of low quality and too expensive.
**She crunched the numbers proving they were getting more than she was working 40/hr a week. She quit that day.**
**“I’ll never work a full-time job. He succeeded.**
I say make recipients prove they put in a 40 hour work week with paycheck stubs-paper. Confine the EBT cards to rice, beans and veggies only. Obesity will go down.
“I am for doing good to the poor, but...I think the best way of doing good to the poor, is not making them easy in poverty, but leading or driving them out of it. I observed...that the more public provisions were made for the poor, the less they provided for themselves, and of course became poorer. And, on the contrary, the less was done for them, the more they did for themselves, and became richer.” - Ben Franklin
The 91% level was in the Eisenhower era.
Tax rates were cut in the Kennedy era.
from google:
A Brief History of the Top Tax Rate
Urban Institute
https://www.urban.org › sites › files › publication
PDF
by A Carasso · Cited by 1 — Reagan-sponsored tax legislation in 1981 lowered it to. 50 percent (although there already was a maximum tax on “earned” income of 50 percent).
In California, EBT can be used at fast food places.
Thank you, I just remember I was young when he said this. I just saw that the 91% rate’s last year was 1959. I would have been 10. Of course the 91% rate was only paid on income above a certain level. So very little of his tax owed would have been at that level.
In 1995, I thought that the ‘96 primary season would be dominated by a battle between Gramm and Dole. However, for some reason, Gramm fizzled out and was gone before the New Hampshire primary. Had he stayed in, I would have voted for him.
91%? WTF? I’m 54. That was ridiculous
Where are you getting that quote? I don’t see it in the article at the site. I see a reference to the economists, but not the rest of those words.
The Louisiana Caucus thought they were stacking the deck for Gramm but they were really stacking the deck for Buchanan. (Very few polling places — as far as I know paid for by the party rather than the state....probably would have been illegal if the state ran it...it took hours to vote...only the very devoted Buchanan supporters stayed.)
Hard to find another free traitor worse than him. He was a rabid supporter of nafta, communist china, mass immigration, etc.
We once had a dynamic of lower social class of hard workers. But the open border lovers started flooding the country in 1965, and only got worse. We have several generations of citizens who were wiped out by the wage dynamic of cheap foreign labor. That becomes cemented into the social classes.
That dynamic will spread to ai and tech innovation, making labor obsolete in many areas. Mass migration and cheap labor is another form of robots and tech.
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