Rave this if You Want Mitt Romney to Win in 2012!
Foxhound BN0
2012/01/21 16:56:22
If you are a Mitt Romney fan, rave this post and make it number one!
Top Opinion
-
cm 2012/01/21 17:36:14
I'll be voting for liberty this year and not just another meaningless "lesser" evil.
Ron Paul - 2012
Hear this guy out he's got it right.
Lets give Obie another four years to destroy what could be saved.
I did not start this run with a vulcher poster.
You're passionate about the President and I am not. I believe we need a change in management and you don't. So........
We will see how our fellow Americans feel about it next November.
If you vote for either, Ron Paul gets one less vote.
I'm a classical liberal.
That's a really good way to make retirees wholly dependent on the federal government.
The whole convoluted tax structure is set up to benefit the wealthy. I'm 60 years old, and for the first 13 years of my life the highest tax rate for the wealthy was at 91%, and capital gains was at 25%. Then in 1965 the highest rate was lowered to 70%, and in 1968 capital gains was raised about a two points or so every year until 1972 when it was at 36.5% and the highest tax rate was lowered to 60%. In 1972, our national debt was $427 billions. In '76 capital gains was raised to 39.9% for two years, and then in '79 it was lowered to 28%. Less than a third of the country made enough money to be invested in the stock market at that time. By 1981, then the rich got real greedy with Reagan's tax cuts. Capitol gains was lowered to 23.7%, the lowest rate in my lifetime. In 1981, our national debt was at $997 ...
The whole convoluted tax structure is set up to benefit the wealthy. I'm 60 years old, and for the first 13 years of my life the highest tax rate for the wealthy was at 91%, and capital gains was at 25%. Then in 1965 the highest rate was lowered to 70%, and in 1968 capital gains was raised about a two points or so every year until 1972 when it was at 36.5% and the highest tax rate was lowered to 60%. In 1972, our national debt was $427 billions. In '76 capital gains was raised to 39.9% for two years, and then in '79 it was lowered to 28%. Less than a third of the country made enough money to be invested in the stock market at that time. By 1981, then the rich got real greedy with Reagan's tax cuts. Capitol gains was lowered to 23.7%, the lowest rate in my lifetime. In 1981, our national debt was at $997 billions. Then in '82 Reagan lowered capital gains again to 20%, and the highest tax bracket was lowered to 50%, and then the debt really started to grow. In '87 the highest tax bracket was lowered again to 38.5%, and then in '88 to 28%. Capital gains had to be increased to 28% from 20% in '87, as in '88 our national debt more than doubled in seven years to $2.6 trillions. Capital gains stayed at 28% until 1997, and in order to address the deficits every year the highest tax bracket was raised to 31% in '91 and '92. Then Clinton made a lot of conservative enemies when he raised the highest rate to 40% in '93. Then Bush got in office and lowered it twice to be at 35%, and in 2003 he lowered capital gains to 15%.
Returns on investments are not taxed twice. That is a right wing myth. The income is taxed once, and the PROFITS from investments are taxed, but not twice. You are not taxed again on the amount of your investment, only any profits made after the initial investment. You invest $100,000 in the market, and then sell at $150,000, you are not taxed at $150,000, only the $50,000 profits are taxed as capital gains. Why do the rich always have to get the advantage and the special deals?
Something people always disregard when they talk about the race to the bottom and wealth disparity is that is that about half of those who were middle income or less thirty years ago are now middle income or more.
http://www.cbsnews.com/8301-2...
http://www.census.gov/hhes/ww...
"The new measure of poverty takes into account medical, commuting and other living costs." I doubt the cold data from the census takes those things into consideration.
What census data does show is that incomes for the middle class is dropping, by as much as 2.9% in the West from 2009 to 2010. That has been consistent for many years.
http://www.census.gov/newsroo...
I doesn't matter if it's going to be Romney, Gingrich or whomever, the Republicans are going to lose in November. The Republicans have shown themselves to put party above country time and time again with their quest to defeat Obama in November. It will backfire on them for sure.
[sarcasm]