Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Coming Attractions: Rep. Paul Ryan Warns of a Top Marginal Tax Rate of 88% (Video)
ThreeFingersofPolitics.com ^ | March 19, 2010

Posted on 03/19/2010 1:42:11 PM PDT by Rufus2007

Since the health care debate has swung into high gear, Republican Wisconsin congressman Rep. Paul Ryan stock has gone up as well, coming off as smart, intelligent and able to take the . He was Larry Kudlow’s CNBC program last night criticizing what health care reform would do to the deficit. But he said something else that really caught my ear. As he explained, based on projections from the so-called non-partisan Congressional Budget Office tax-rates will skyrocket with the wealthiest pay an astounding 88-percent rate within 30 years. [Transcript below video]

(Excerpt) Read more at threefingersofpolitics.com ...


TOPICS: Business/Economy; Government; News/Current Events; Politics/Elections
KEYWORDS: moneylist; obamacare; paulryan; taxes
Navigation: use the links below to view more comments.
first 1-2021-29 next last
Wow. Look out Western Europe - here comes the U.S.
1 posted on 03/19/2010 1:42:12 PM PDT by Rufus2007
[ Post Reply | Private Reply | View Replies]

To: Rufus2007

What a crock. The country would have collapsed well before such a tax rate on the job producers and large tax payers in America.


2 posted on 03/19/2010 1:44:11 PM PDT by EagleUSA
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rufus2007

there will be a bloody mess in DC before I would ever pay that much


3 posted on 03/19/2010 1:45:33 PM PDT by boxerblues
[ Post Reply | Private Reply | To 1 | View Replies]

To: EagleUSA

Uhmmm....Paul Ryan aint an idiot.


4 posted on 03/19/2010 1:46:16 PM PDT by GUNGAGALUNGA (Democratus Suckus Teatus is the Latin root for Democrat and it means to tax)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Rufus2007

Bump


5 posted on 03/19/2010 1:48:35 PM PDT by Inyokern
[ Post Reply | Private Reply | To 1 | View Replies]

To: EagleUSA

Paul Ryan is one of the sharpest knives in the drawer when it comes to the economy. I believe him, and you’d better believe him too.

Look at all the South American economies that have collapsed over my lifetime. Those countries still exist, but most of the people are very poor. I can happen to us too.


6 posted on 03/19/2010 1:49:48 PM PDT by afraidfortherepublic
[ Post Reply | Private Reply | To 2 | View Replies]

To: GUNGAGALUNGA

Uhmmm....Paul Ryan aint an idiot.
:::::::
No, but the idea that the REAL TAXPAYERS in this country could tolerate (or would tolerate) an 88% tax rate is absurd. The incentive to produce would have long disappeared before such a situation.


7 posted on 03/19/2010 1:51:30 PM PDT by EagleUSA
[ Post Reply | Private Reply | To 4 | View Replies]

To: Rufus2007
88% top rate

63% middle income

25% low income pairs

8 posted on 03/19/2010 1:52:02 PM PDT by Armando Guerra
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rufus2007

88%? In other words any doctor who doesn’t retire out of irritation at Obama and Pelosi trying to turn him into a slave will retire out of irritation that the thugs are stealing the vast majority of what they permit him to earn.

I have already cut back 70% of my taxable income by choice and even more of my spending, and I’ll simply withdraw from the grid if rates go anywhere near that high. They’re welcome to 88% of nothing!


9 posted on 03/19/2010 1:57:04 PM PDT by Pollster1 (Natural born citizen of the USA, with the birth certificate to prove it)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rufus2007
"the wealthiest pay an astounding 88-percent rate"

No they won't.

They'll stop working rather than pay those rates. Jobs will flow overseas.

10 posted on 03/19/2010 1:59:17 PM PDT by Uncle Miltie (Call the local offices of Congresscritters. They are still answering the phone.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: afraidfortherepublic

Unless there is fiscal restraint and the people enforce it. There is a process, to conserve....

Which means, Americans as a whole are failing immensely in policing Obama. The upshot? HUGE unemployment and NO standard of living, let alone no defense.


11 posted on 03/19/2010 2:01:11 PM PDT by himno hero
[ Post Reply | Private Reply | To 6 | View Replies]

To: EagleUSA

“No, but the idea that the REAL TAXPAYERS in this country could tolerate (or would tolerate) an 88% tax rate is absurd. The incentive to produce would have long disappeared before such a situation.”

This statement below would have been “absurd” even last year.

“The idea that the Congress would pass a piece of legislation that forces every citizen of the United States to purchase a health insurance policy at the risk of jail without even requiring a VOTE on it is just absurd.”


12 posted on 03/19/2010 2:01:13 PM PDT by autumnraine (You can't fix stupid, but you can vote it out!)
[ Post Reply | Private Reply | To 7 | View Replies]

To: Rufus2007

Marginal Tax Rates of Over 100%

http://economics.about.com/b/2008/02/10/marginal-tax-rates-of-over-100.htm


13 posted on 03/19/2010 2:06:06 PM PDT by DontTreadOnMe2009 (So stop treading on me already!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rufus2007

Over 100%

Moreover, families with incomes between $250,000 and $500,000, the “marginal” tax rate paid on the next dollar of earned income could soar to 80 percent, or in some cases even above 100 percent.

http://www.freerepublic.com/focus/f-news/1850257/posts


14 posted on 03/19/2010 2:07:28 PM PDT by DontTreadOnMe2009 (So stop treading on me already!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rufus2007

I will close all three of my businesses and bury my wealth... **** obama and his wh0re momma.

LLS


15 posted on 03/19/2010 2:11:49 PM PDT by LibLieSlayer (Wolverine)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rufus2007; boxerblues; EagleUSA; DontTreadOnMe2009
In 1932 the top marginal tax rate was increased to 63% during the Great Depression and steadily increased, reaching 94% (on all income over $200,000) in 1945. During World War II, Congress introduced payroll withholding and quarterly tax payments, Franklin D. Roosevelt tried to impose a 100% tax on all incomes over $25,000 to help with the war effort. Top marginal tax rates stayed near or above 90% until 1964 when the top marginal tax rate was lowered to 70%.
16 posted on 03/19/2010 2:14:04 PM PDT by Graybeard58 ("0bama's not just stupid; He’s Jimmy Carter stupid”. - Don Imus)
[ Post Reply | Private Reply | To 1 | View Replies]

To: EagleUSA
What a crock. The country would have collapsed well before such a tax rate on the job producers and large tax payers in America.

You should check the Marginal Tax Rate history.

17 posted on 03/19/2010 2:15:34 PM PDT by FreeReign
[ Post Reply | Private Reply | To 2 | View Replies]

To: EagleUSA

I remember 91%. (I’m old). I also remember my Dad saying he was turning down work for the last couple of months of the year (ca. 1959) so as to not incur that tax rate. The self-employed can do that.


18 posted on 03/19/2010 2:16:19 PM PDT by SaxxonWoods (Gone Galt and loving it)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Rufus2007

Is this a blog?


19 posted on 03/19/2010 2:18:42 PM PDT by BunnySlippers (I LOVE BULL MARKETS . . .)
[ Post Reply | Private Reply | To 1 | View Replies]

To: EagleUSA

The top marginal tax rate before Reagan was higher than that. However, there were scads of deductions, reductions, etc. that have since been erased. I think we’d all better start self-identifying ourselves as minorities, under-represented minorities, etc. on EVERY piece of paper we are required to fill out. Myself, I just became Cherokee Indian - bwaha! NATIVE AMERICAN - under-represented....(actually am 1/16th, but what the hell).


20 posted on 03/19/2010 2:20:50 PM PDT by Gaffer ("Profling: The only profile I need is a chalk outline around their dead ass!")
[ Post Reply | Private Reply | To 2 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-29 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson