The Wow I Can't Believe That News Story Thread

[rostasi]

FDR proposed a 100% top tax rate which eventually became 94%,
so I don't know what you're going on about.

[Anteater]

Originally Posted by rostasi

FDR proposed a 100% top tax rate which eventually became 94%,
so I don't know what you're going on about.

Did you see the phrase "top marginal tax rate" in anything I said?

[Anteater]

Originally Posted by elphenor

that's the marginal tax rate

meaning anything over 60k a year is taxed at 60%

which is an astronomical difference, however it's a common mistake

for a long period of US history we had a 90% marginal on income over 200k

but in both cases it's important to consider that nobody pays the top marginal rate straight up, deductions a plenty

Not really. That's a fairly low threshold. Deductions are overrated as well, which is why smaller businesses struggle to turn any kind of profit in those countries and eventually move to Ireland or wherever they aren't taxed to oblivion.

I had a professor way back when who said that one of the reasons we have so many loopholes and problems in our own tax code was because those marginal top rates were so high for such a long time so the rich got sneakier to find ways to skirt around them. He didn't blame FDR directly, but I think that might have been his underlying point.

[Anteater]

Originally Posted by elphenor

what do you mean not really

can you math

Sure. I make 60.1K or higher. Bye bye moneys. The end.

[Anteater]

Originally Posted by elphenor

this confirms you literally thought sweeds were paying over 30k in taxes on a 60k income

****ing hell

It's actually more than that overall when you add up other taxes (like the VAT taxes that those who own businesses have to figure out) for example. The only people who don't care are those who are A. in the public sector or B. happen to work somewhere where they also get an occupational pension on top of the whole state pension thing.

[DwnWthVwls]

Id love to have elph sit down with my friends who actually live in Sweden and have plenty to complain about. Id like to see the look on their faces when an American tells them they are wrong.

[Cuthbert]

Originally Posted by DwnWthVwls

Id love to have elph sit down with my friends who actually live in Sweden and have plenty to complain about. Id like to see the look on their faces when an American tells them they are wrong.

haha

[rostasi]

Yeah, haha ... 🙈 my friends in Sweden and Norway and Germany and...

Look, this reminds me of the guy who has some problem that was a big inconvenience for him and complains in dramatic ways. “Oh, I had to wait months for my surgery in Canada, so the whole Canadian healthcare system is so broken...blah, blah, blah...” Please spare us.

[MicShazam]

Originally Posted by Anteater

If you make 60K a year or more in Denmark, you are taxed starting at 60% of your personal income, and Sweden is comparably high. Some people might be okay with that, but I never would be. I doubt FDR would have been either.

And that doesn't even touch upon VAT taxes that suck the life out of smaller businesses. Corporations do okay over there, but businesses below that threshold are miserable.

It's a welfare state. Every citizen enjoys the benefits of this. It's a thing we build together by paying high taxes. Rich, greedy pigs who don't like it can just piss off to Guatemala or something.

[Anteater]

Originally Posted by MicShazam

It's a welfare state. Every citizen enjoys the benefits of this. It's a thing we build together by paying high taxes. Rich, greedy pigs who don't like it can just piss off to Guatemala or something.

Lol. None of your non-health related insurance is covered by the state. So on top of high taxes, you pay for home insurance, the mortgage, utilities...plus it isn't as if food isn't just as expensive there as anywhere else. There are other misc. costs that add up as well.

Unless you are living in a ****ty apartment, your down to around 10K or less if you are particularly unlucky in a typical fiscal year. Is someone greedy for wanting to live above the poverty line?