ILA vs Jarod: 1950 Tax Code 2.0

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OK Jared. I didn't put this in APP so we will see if you step up to the plate unlike some other JPP pussies.

Now I don't know whether Topspin is correct in that you make $350K a year, but let's start with that number.

Based on this link

http://taxfoundation.org/sites/taxfo...y_adjusted.pdf

Now what we don't know is what the effective rate was in 1950, but you aren't really arguing that are you? You are always focused on the marginal rates.

Based on the tables in this link, you would pay 65% of your income in Federal Income taxes. Now we know that Floriduh doesn't have state income tax so you are shielded there. Throw on your social security taxes of 12% and you are now at 77% of your income going to the federal government.

I haven't even added in your property taxes, sales taxes and other "fees" that the government likes to levy.

Are you still saying you would be fine with this arrangement? And if you really want to give more to the federal government then why don't you? Why do you have to be forced? Why don't you step up to the plate and disavow any of the deductions afforded to you under the tax code? How would you be harmed?

 

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ILA, I don't know if it was intentional or if you are an idiot, but you banned me from the thread you tried to challenge me in.



My answer is that if I was taxed the higher rate for the portion of the income in the highest bracket, I would be okay with it.

So, answer me this, how much money would I have to make to pay the highest percentage and how much of my income, if I made $350,000 would be taxed at that rate?

I am sorry, but the "If I was taxed at the higher rate, I would be OK with it" doesn't wash. It is easy to say, since you don't really have to do anything about it.

As to your other question, I would direct you to the table I provided in the link. You can get the answer yourself. I used the 1950 tax code. Again, I don't know what all of the deductions were in 1950 so I can't get to an effective rate. However, that wasn't your original argument so we will stick to marginal rates right now.