Taxation and debt

[30ashopper]

Found this chart today which I found interesting. A couple things that stand out to me - raising or lowering tax rates doesn't necessarily correlate to a increase / decrease in national debt. Second - Bush's "tax cuts for the rich" which reduced Clinton's tax rates on the middle class and poor.

Note Obama's rates should be about the same as Bush's except for the upper couple of lines.

 

[Andy A]

Many, including me, are not chart savvy enough to really read this one. The one line I do understand is the big red one going out of sight. When and where do we stop this ridiculous cycle of spending what we don't have?

 

[kkddbb]

Found this chart today which I found interesting. A couple things that stand out to me - raising or lowering tax rates doesn't necessarily correlate to a increase / decrease in national debt. Second - Bush's "tax cuts for the rich" which reduced Clinton's tax rates on the middle class and poor.

Note Obama's rates should be about the same as Bush's except for the upper couple of lines.

this "tax for the rich" is getting old. find another bumper sticker slogan.

you dont lower in one area, you lower them across the board like reagan did. and understand that clinton couldnt cough without the gop leadership in both the house and senate. and clinton is no obama either. you give relief to small business so we can invest in people and growth. its economics 101 and there isnt a small biz owner out there especially now that will disagree. its a daily conversation for us.

this president sees small biz as the problem, not the solution and thats a gross misunderstanding on how america is the model for the worlds economic system. profits are bad in his mind because he hasnt a clue how the private sector works....but he's finding out now that he's in the white house-pathetic

 

[kkddbb]

Many, including me, are not chart savvy enough to really read this one. The one line I do understand is the big red one going out of sight. When and where do we stop this ridiculous cycle of spending what we don't have?

she's playing politics. exactly why this country is so divided and why we cant do the obvious.

 

[30ashopper]

Many, including me, are not chart savvy enough to really read this one. The one line I do understand is the big red one going out of sight. When and where do we stop this ridiculous cycle of spending what we don't have?

The little colored lines in the lower area are our historical marginal tax rates, they match up to the index on the left. It always amazes me that post FDR (1940-1970) our top marginal rate was between 70%-90%.

Can you imagine paying 90% of your income to the IRS every year?

 

[kkddbb]

The little colored lines in the lower area are our historical marginal tax rates, they match up to the index on the left. It always amazes me that post FDR (1940-1970) our top marginal rate was between 70%-90%.

Can you imagine paying 90% of your income to the IRS every year?

if i had to pay 90% of my income to the irs id be living under a bridge.....

 

[Andy A]

The little colored lines in the lower area are our historical marginal tax rates, they match up to the index on the left. It always amazes me that post FDR (1940-1970) our top marginal rate was between 70%-90%.

Can you imagine paying 90% of your income to the IRS every year?

Thanks for the explanation, 30ashopper. Our tax rate now will nowhere near support our deficit spending if I read the chart correctly. If this is so, where is the money to support all these new, let alone old, government programs to come from???
Its time some Americans started looking at your charts. Thank you for such great input.