Get Ready for a 70% Marginal Tax Rate

http://online.wsj.com/article/SB1000142 ... on_LEADTop

President Obama has been using the debt-ceiling debate and bipartisan calls for deficit reduction to demand higher taxes. With unemployment stuck at 9.2% and a vigorous economic "recovery" appearing more and more elusive, his timing couldn't be worse.

Two problems arise when marginal tax rates are raised. First, as college students learn in Econ 101, higher marginal rates cause real economic harm. The combined marginal rate from all taxes is a vital metric, since it heavily influences incentives in the economy—workers and employers, savers and investors base decisions on after-tax returns. Thus tax rates need to be kept as low as possible, on the broadest possible base, consistent with financing necessary government spending.

Written by someone who is truly brilliant about someone who is not. This country can't afford to have people like Obama in office.

Do you really think Congress would rubber stamp a 70% marginal tax rate? I think they would rather shut down goverment.

And of course no has called for a 70% marginal tax rate, just another conservative lie.

Something the Dog Said wrote: And of course no has called for a 70% marginal tax rate, just another conservative lie.

Read the story. California already has people paying 59%. It isn't that far off. And when you add up some of the numbers they have been throwing out and what will HAVE to happen if we don't vote out Obama and stop the spending and out of control debt ceiling, then 70% is not out of the quesiton at all. The LAST Carter that we had in the White house was higher than that!

And yet no one has called for 70% marginal tax rate except for conservative posters here.

Something the Dog Said wrote: And yet no one has called for 70% marginal tax rate except for conservative posters here.

Name some names.

SS109 wrote: Do you really think Congress would rubber stamp a 70% marginal tax rate? I think they would rather shut down goverment.

I don't trust Boehner at all. So anything is possible.

conifermtman, check the title of the thread.

Something the Dog Said wrote: conifermtman, check the title of the thread.

Apparently you did not read the link I posted. That is the title of the piece.

conifermtman wrote:

Something the Dog Said wrote: conifermtman, check the title of the thread.

Apparently you did not read the link I posted. That is the title of the piece.

They don't understand that reading the article will more times than not answer their quesitons.