Depends on where you are starting from. In the fifties the highest tax rates got up to 90%. I will agree that lowering them if they are that height is a good idea. Now though the highest tax rate is much lower. If we lower it any more we will be paying the rich money taken from the poor and middle class.....even more than we already are.

Good luck with that ~ the ones who know they're lying always have to make everything about what they're afraid to admit they're wrong about .

Care to share those numbers with us?

Just like all tax increases, it depends on where they start from. I doubt those 90% tax rates did not go from 28% to 90% in one fell swoop. They were probably sold as it is only a 3% increase twenty five times. The old adage death by a million small cuts.

This thread needs to be moved to ODP&R.

Oh well.

If you’re interested in the debate Tom I am not trying to deny you. I would just like to see it in the ODP&R where it belongs.

Enjoy!

Whatever.

You're ignoring the fact that few 1%'ers ever pay anywhere close to the same amount of taxes the average American does .

The endless loop holes and exemptions they get are staggering .

Why you and the rest of your ilk think it's O.K. for you and the rest of us working class schlubs to pay their taxes, is incomprehensible .

How about sharing these incredible loopholes. Give an example.

Here are a few. Knock your self out.
https://www.accounting-degree.org/accounting-tricks/

Agree, lets keep it in the right section guys. It is what it's there for.

Why don't you ever show the truth you're claiming first .

Unlike you, I actually know a lot of incredibly rich people .

Great! Then you know lots of these incredible loopholes. I’m still waiting....

BTW, you have no idea who I might know, or knew before they passed away. There are some very successful people around here, several of which I know reasonably well. Knowing such people doesn’t make you a tax expert.

The ability to deduct depreciation in an income property is great for an investor. You get to pretend the property is going down in value and deduct that amount from your gross income for tax purposes. I always feel a little guilty taking it.

Back when Reagan was in one could buy a new truck for business purposes and deduct its full purchase price taken over just three years. I felt a little guilty then too but took it.

The new Trump era tax deduction worked well for me too, my CPA said, though I am not sure exactly what it did for me. I think the tax rate for capital gains was reduced significantly.

The tax rate for capital gains used to be same as for ordinary income. I have never thought it was fair to make it less. I take it though and help create jobs by spending it wisely.;)