{"id":3541,"date":"2009-10-09T19:06:13","date_gmt":"2009-10-09T23:06:13","guid":{"rendered":"http:\/\/1boringoldman.com\/?p=3541"},"modified":"2009-10-11T11:26:15","modified_gmt":"2009-10-11T15:26:15","slug":"3541","status":"publish","type":"post","link":"https:\/\/1boringoldman.com\/index.php\/2009\/10\/09\/3541\/","title":{"rendered":"taxing thoughts – pick a number…"},"content":{"rendered":"
<\/div>\n
Watching the Presidents cycle through various income tax schemes, sometimes it looks like we’re evolving – iterating towards some rational tax brackets. At other times, it looks something like a war between factions [see taxing thoughts<\/a>…<\/strong> and more taxing thoughts…<\/strong><\/a>]. I think we’ve established that the extreme tax rates of FDR were a bit much, and the slash and burn of Reagan another kind of a bit much.  One thing that is established in my mind – the graduated income tax brackets. Without graduated brackets, the lower income people would be wiped out. Another established fact is that brackets like 94%, or even 70%, are out. But where is the compromise?<\/div>\n

Reagan’s scheme gave the wealthy a "bye" [still does] and it just didn’t raise enough money. Clinton was closer to right, but it’s hard to evaluate because he was also good at cutting spending. Bush [I & II] made arbitrary tax cuts just to be cutting taxes based on no actuarial evidence that I can see – vote buying I think. So, with the data in these posts and a my ouija board, I arrived at the following scheme – graduated, lite on the bottom, not too heavy on top, not vengeful, would raise the money needed:<\/p>\n\n <\/tr>\n\n\n\n\n\n\n\n\n\n
1BORINGOLDMAN
<\/sup><\/font><\/strong><\/td>\n		 <\/td>\nBUSH II
<\/sup><\/font><\/strong><\/td>\n<\/tr>\n
TAX RATE<\/sup><\/font><\/strong><\/td>\nOVER<\/sup><\/font><\/strong><\/td>\n <\/td>\nTAX RATE<\/sup><\/font><\/strong><\/td>\nOVER<\/sup><\/font><\/strong><\/td>\n<\/tr>\n
8%<\/sup><\/font><\/strong><\/td>\n$0<\/sup><\/td>\n <\/td>\n10%<\/sup><\/font><\/strong><\/td>\n$0<\/sup><\/td>\n<\/tr>\n
14%<\/sup><\/font><\/strong><\/td>\n$25,000<\/sup><\/td>\n <\/td>\n15%<\/sup><\/font><\/strong><\/td>\n$16,050<\/sup><\/td>\n<\/tr>\n
20%<\/sup><\/font><\/strong><\/td>\n$75,000<\/sup><\/td>\n <\/td>\n25%<\/sup><\/font><\/strong><\/td>\n$65,100<\/sup><\/td>\n<\/tr>\n
26%<\/sup><\/font><\/strong><\/td>\n$150,000<\/sup><\/td>\n <\/td>\n28%<\/sup><\/font><\/strong><\/td>\n$131,450<\/sup><\/td>\n<\/tr>\n
32%<\/sup><\/font><\/strong><\/td>\n$250,000<\/sup><\/td>\n <\/td>\n33%<\/sup><\/font><\/strong><\/td>\n$200,300<\/sup><\/td>\n<\/tr>\n
38%<\/sup><\/font><\/strong><\/td>\n$400,000<\/sup><\/td>\n <\/td>\n35%<\/sup><\/font><\/strong><\/td>\n$367,700<\/sup><\/td>\n<\/tr>\n
44%<\/sup><\/font><\/strong><\/td>\n$750,000<\/sup><\/td>\n <\/td>\n <\/sup><\/font><\/strong><\/td>\n <\/sup><\/td>\n<\/tr>\n<\/table>\n

<\/p>\n

But whether President Obama heeds my advice or not, there’s one thing for sure. The Republicans and their media auxillary will jump on whatever he does with a ferocity that will dwarf their reactions to his Stimulus Program, his Health Care Reform, or his Nobel Prize. The taxation issue will be a real noisy debate. <\/p>\n

I’m beginning to think that taxation and the financial freedom the wealthy have gotten since Reagan is what most of the BULL<\/sub>SHIT<\/sub><\/font><\/strong> era has really been all about. Such malarkey can’t be perpetuated much longer without structural damage to the whole edifice we call the United States of America… <\/div>\n","protected":false},"excerpt":{"rendered":"

Watching the Presidents cycle through various income tax schemes, sometimes it looks like we’re evolving – iterating towards some rational tax brackets. At other times, it looks something like a war between factions [see taxing thoughts… and more taxing thoughts…]. I think we’ve established that the extreme tax rates of FDR were a bit much, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_forum_subforum_count":0,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-3541","post","type-post","status-publish","format-standard","hentry","category-politics"],"_links":{"self":[{"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/posts\/3541","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/comments?post=3541"}],"version-history":[{"count":0,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/posts\/3541\/revisions"}],"wp:attachment":[{"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/media?parent=3541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/categories?post=3541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/tags?post=3541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}