Comments by "" (@TheHuxleyAgnostic) on "Wall Street Weighs In On AOC's Proposed 70% Marginal Tax Hike | Davos 2019" video.

  1. That's bullshit. The 90% marginal tax rate in the 50s may have applied to $200k and above, but that's about $2 million and above, today.
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  2. @Joseph Geiger They didn't pay less, and there are still deductions.
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  3. @Joseph Geiger Nope. They had similar dodges as they do today, and the effective tax rate, for the 1%, was 40+%, higher than today's 25+% effective tax rate, for the 1%. One of the dodges, then, was to reinvest in other corporate ventures, because the risk was only 10ยข on the dollar, instead of simply taking an under 30% hit, and hoarding the rest, like they do today. Many also just didn't bother asking for enough to bump them up into that top tax bracket, so there weren't anywhere close to the same amount of people in that upper tax bracket, as there would be today. Companies spent the money elsewhere ... like more on their 40% unionized workforce, who had more bargaining power than the 10% unionized workforce of today. Capital gains was another dodge, which is still around.
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  4. @Joseph Geiger Yes, and getting "paid" in capital gains, is an income dodge. No. It only gets over 30%, including all taxes, not just income taxes. https://www.pgpf.org/sites/default/files/0102_tax-rates-full.gif
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  5. @Joseph Geiger Then there's all the corporate welfare.
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  6. @Joseph Geiger Amazon using roads and highways to transport goods all over, but paying no taxes, for example.
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