70% income tax will destroy america!!!

here are two (((takes))) on this for anyone who might be interested in an actual answer on this instead of just shilling.

taxfoundation.org/taxes-rich-1950-not-high/

slate.com/business/2017/08/the-history-of-tax-rates-for-the-rich.html

>What you want is left wing economic, right wing social.
This.

Now show 1912

>explain this drumflets
post-war.

exactly..high income tax rates makes rich people to re-invest their money back to the business instead of hoarding them or wasting them on frivolous things

>largest recession and economic collapse happened only 10 years after income tax rates were slashed
wow! what a coincidence!

yes

This wasn't the globalization era.

There's a reason it worked then but it won't work now. It used to be that tax rates that high created a use-it-or-lose-it situation among individuals and firms. They would he forced to reinvest profit or the tax man would take it. But in today's economy that money would simply find a tax haven overseas or otherwise out of the country.

I think the leftist argument usually goes that higher tax rates will increase government tax revenues

Reminder to sage all shill threads.

Wait until the middle class is vanishes, the rich can invest their loot in panic rooms.

>Completely disregards what I said later in the post about the recession
If you truly believe it was the taxes that crashed the economy you are a fucking retard. Stock market crash had nothing to do with amount of taxes people were paying.

Do research next time dumb nigger

maybe you should do some research dumb negroid
the deregulations of the 20s caused the big recession. The stock crash was caused by a huge pump n dump through all the extra income rich people had

fpbp

any research into the topic proves this

Attached: 1548443467332.gif (320x320, 250K)

High income tax brackets don't work you fucking nigger. The rich flee and the middle class gets taxed to death.
The only way a welfare state can work is through high, flat taxes (sales tax, tariffs, fuel taxes) and free markets. That's the Nordic system american commies are citing as an example to implement socialist policies, which have nothing to do with the nordic system.

so are you saying 70% tax rate isn't that bad after all, since they won't actually pay that much, right?

>Doesn't understand how wars skew economic data.
Just about everything we pull from that era needs to be viewed in the context of a world war, and the post-war period.
And as we get into later years (1965-1985) where taxes remained high, those were not "golden age" years at all, in fact the 70s were quite bad economically.
The most recent golden age before the war was 20s, in which taxes were lower than they are today.

Attached: gigachad 0.png (500x500, 107K)

>hurr the rich will flee!
and where exactly will they flee to dumbass? europe that has even higher taxes or china? their business and source of income will still be operating in USA, they can't escape that

>AMERICA WAS NEVER GREAT!!!
>now lets go back to these tax rates from the past when America was great.
... its all so tiring.

>everyone that disagrees with me is the same person!
imagine being THIS dumb

Attached: 1548435859047.jpg (640x845, 108K)

Reagan eliminated a lot of the loop holes used in the past. He "simplified to tax law." Now most of the loopholes no longer apply to average every day folks, the major loop holes were bought and paid for by special interest money from large corporations. The loop holes are so specific that only large corporations can take advantage and smaller businesses trying to grow would get crushed under the weight of a 70% tax burden

Obviously corporations do this to crush competition and maintain a semi-monopoly. You'll only be hurting the middle class with this tax hike, not the companies you're trying to target

Attached: 1548891327839.jpg (480x379, 19K)

Not a single country in the world has a 70% income tax (marginal or not)

You argument is still "it happened in the past so it should happen again" while you completely ignoring the circumstances of said era. Retard.

Attached: 1546916823757.jpg (773x960, 60K)

OP, is what you're suggesting that a high tax rate will increase tax revenues?

They live anywhere they want but have a paper residency in Monaco.
nomoretax.eu/living/relocation-to-monaco/
Very common
Switzerland is another option, also common, I think their taxes are 11.5% at the top end.

Based leaf

so tell me moron, what circumstances now make this policy bad?

You are confusing tax evaders with tax avoiders, based on current American law you are still subject to taxation even if you move to another country, the only way to legally avoid taxes is to renounce your citizenship, which considering your business is in USA would be a bad idea

>I own a bunch of companies
>I get income from them and then pay tax on my income. Double taxation
>I establish my company or move it somewhere with much lower taxes
>I pay the foreign corporate tax rate
>I save a whole bunch of money and pay the american taxes, after I've done everything I can to report a lower income
L2taxHaven this isn't new shit

High taxation on the rich is not only fucking stupid but also totally antithetical to the idea of limiting rich people's influence on the country. You're basically advocating for the country's infrastructures to solely rely on rich people's money.
Again, the only way it can work is through high and flat taxation for everyone (or to be more specific, for general goods and services). Doesn't really make sense to me, but i guess you could argue that the general populace make poor choices. In that case it's called a nanny state and while morally wrong, at least it won't lead to people eating rats to survive.

By the way you can incorporate anywhere then do business anywhere. Corps are just papers in a lawyer's office. Most american companies are incorporated in delaware for this reason.

we are talking about INCOME taxes not corporate taxes dummy. Obviously if you register your company to another country you are going to avoid corporate tax, but you are still an American citizen and your INCOME is taxed on American tax rates

Goob stuff

we went longer without an income tax at all and did fine
explain that communists

>explain this

Literally no-one used to pay taxes

>flat tax will limit the influence of the rich!
meanwhile in the real world they've been the ones shilling for that shit for decades.

>high income tax rates makes rich people to re-invest their money back to the business instead of hoarding them or wasting them on frivolous things
You realize they do this anyway... money sitting around is money wasted.

They don't care about the influence they have, they just want to keep their money

Unless I renounce citizenship. Which I might just do if it will save me billions of dollars.

Shut up libertarian fag

Now show the effective rates (what people actually paid).

I don't mind high income taxes, I just want the benefit going to whites, not niggers or muslims.

Attached: taxrates.png (1300x928, 96K)

>paying taxes
Tax dodger here. I love working cash jobs for 16 dollars an hour with no taxes. I chose not to be poor because capitalism in it's purest form is a win. Fuck communism and fuck taxes. Gob bless the free market.

Attached: 1548949942424.jpg (333x493, 102K)

>I don't mind high income taxes, I just want the benefit going to whites, not niggers or muslims.
Literally this. A white might pull themselves out of poverty but the others won't. I would even accept my money going to asians too because high-IQ but surprise surprise they don't need my free gibs because high-IQ

the rest of the western world was in ruin so there was nowhere else for corporations to take their businesses for lower tax rates. Also because the rest of the world was in ruin, the US was the beacon of manufacturing and exports crucial to the reconstruction of Europe. Big business was arrested to staying in US and therefore exploited to pay these high tax rates, although many managed to loophole their way around it. Today, Japan, China, Europe, and Asia is stable, industrialized, and competitive. The US cannot get away with these high tax rates anymore, there is competition now, they must either adjust to compete or join the Romans.

I'll just drop this here

Attached: tax&gdp.png (1165x849, 84K)

false

If I was a millionaire could I legally give my money to white people only, like I just put a website on the internet that says if you're white I'll give you money, and take my riches and gift them to people who need help as long as they can prove they're white and/or have white babies to care for? It wouldn't be a business or charity or take in money from anywhere, it would be the same as me just gifting my nephew or friend some money.

And then stage 2 of that is: could we create this front that it's a millionaire, but secretly have everyone donate toward it in the background crowdsource style.

Effective tax was posted just a few minutes ago.

than you admit that rich people would rather reject their own country and all legal rights of being a citizen than pay a tax democratically determined to be fair by the people? And yet you still want to structure the economy around their needs because capitalism is "fair" or "patriotic"?

Reply to poster below faggot .Do you disagree? Or are you a communist ?

Bet the fag won't even respond

Attached: 1549147953296.jpg (430x600, 108K)

So what percentage of average every day folks make over 10 million which is the minimum income to start paying the proposed 70%?

Also we still have plenty of loopholes if the people who do make over $10 million want to invest or spend their money productively.

>around their needs
My only need is that my taxes are low. And I would prefer that businesses don't take their wealth elsewhere because we make it too expensive to exist here. It isn't hard to understand.
>they'd give up their legal rights
Yes, if the alternative is to pay millions in taxes. Wherever the point is that it is no longer worth the money is where they'll take steps to protect their income. This is just rational behavior.
More likely they will simply lobby for people who will change those rules.
>democratically
Literally not the structure of our government

>starts in 1913
Gee wonder what happened?

>I would prefer that businesses don't take their wealth elsewhere because we make it too expensive to exist here
why not just structure the government in a way that you do not rely on the super-wealthy for everything and suck their dick 24/7

How is it shifting this much, wasn't it 50% top income bracket tax for like the last half century at least?

We went through this already.
If you don't want to rely on the super wealthy, you don't rely on them to provide you the majority of your tax revenues, something we already do and I'm sure you'd like to expand.

What is offshore tax haven shenanigans

Lowest tax rate is 0% if you earn what the base deduction from s.

>hurr durr I’m a leftwing retard with a memeflag not even remotely interested in being honest
>hurr durr America was at its greatest when it was full of white people
>drumpf

why not just nationalize their business and confiscate the wealth? Than you don't have to worry about them going anywhere

That is ethically wrong and doesn't respect individual autonomy. The next logical step is to confiscate my wealth. And you have given up on this conversation.

This

Attached: 1545941099115.jpg (436x536, 51K)

>higher taxes makes people want to invest their money more
>so that they can get higher income
>so that they can suffer higher taxes
Genius!

>Nobody starving in America
>Can easily find a roof over your head if you stay away from drugs, aren't an asshole, and/or check yourself as mentally insane
>Easy to find a job
>Easy access to Internet
>Don't even have to work that long or hard to be comfortable
>Can literally get free money from the gubernant
>TRUST ME GUYS IT'S MONEY THAT'S THE PROBLEM ALL OF OUR PROBLEMS WOULD DISAPPEAR IF WE JUST HAD MORE MONEY

Attached: 1541905498509.png (436x536, 143K)

>That is ethically wrong
why is that ethically wrong? You already said that the US decision-making structure is not democratic

This destroys the rising star Mexican Democrat cat lady

Attached: shark.jpg (650x639, 93K)