Skip to main content

View Diary: Take a Hard Line: We Should be Rolling Back the REAGAN Tax Cuts for the Rich, Not Just Bush (54 comments)

Comment Preferences

  •  Yes. Lets update the 86 TRA (1+ / 0-)
    Recommended by:
    Troubadour

    Add 6 brackets, @ 3, 6, 9, 12, 20, 40 million.

    First 3 @ 8%, 9%,  10%, to about 60-70k

    I dont want revenue so much as to move tax burden from working and middle class families to the top .1%. Those working and middle class families should be allowed to keep what they earn.

    Some sectors of manufacturing arent coming back, I think some can be grown back in the US. Take Clothing, last year I looked a at blue jeans, imported for $20, made in the USA for $25. Not a huge difference.

    We can work with that sector, ahhh, tariffs... throw the US Manufacturer a tax break to expand, capital investments in the US that create jobs should be rewarded.

    FDR 9-23-33, "If we cannot do this one way, we will do it another way. But do it we will.

    by Roger Fox on Thu Nov 15, 2012 at 11:47:45 AM PST

    [ Parent ]

    •  Take the 1980 tax rates (1+ / 0-)
      Recommended by:
      Troubadour

      and update them for inflation, and you get:

      1980 tax brackets

      0 - 3400        0
      3400 - 5500    14%
      5500 - 7600    16%
      7600 - 11900    18%
      11900 - 16000    21%

      16000 - 20200    24%
      20200 - 24600    28%
      24600 - 29900    32%
      29900 - 35200    37%
      35200 - 45800    43%

      45800 - 60000    49%
      60000 - 85600    54%
      85600 - 109400      59%
      109400 - 162400    64%
      162400 - 215400    68%
      215400 -        70%

      adjusted for inflation comes out to
      0 - 5780        0
      5780 - 9350    14%
      9350 - 12920    16%
      12920 - 20230    18%
      20230 - 27200    21%

      27200 - 34300    24%
      34300 - 41820    28%
      41820 - 50830    32%
      50830 - 59840    37%
      59840 - 77860    43%

      77860 - 100200        49%
      100200 - 145520    54%
      145520 - 185980    59%
      185980 - 276080    64%
      176080 - 366180    70%

      Then add in new brackets for the filthy rich
      366180 - 1000000    75%
      1000000 - 4999999    80%
      5000000 - 14999999    85%
      15000000 -         90%

      I am not religious, and did NOT say I enjoyed sects.

      by trumpeter on Thu Nov 15, 2012 at 02:12:04 PM PST

      [ Parent ]

      •  Look at the brackets before 1950 (2+ / 0-)
        Recommended by:
        Troubadour, trumpeter

        specially the upper ones, adjusted dollars.

        And adjusted dollars are fine, but in the face of huge income disparity dont seem to mean as much.

        FDR 9-23-33, "If we cannot do this one way, we will do it another way. But do it we will.

        by Roger Fox on Thu Nov 15, 2012 at 04:55:38 PM PST

        [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site