Only a fool would look at this chart and keep pushing for lower taxes on rich people

Comments

There was no withering, witty retort or smack down

Just empty words.

If we truly went back to the 1950s and had the tax rates we did under the two-term GOPer Eisenhower, the national deficit would be immediately gone and the national debt would soon be a non-issue.

 

My point about fools

has been completely validated by your breathtaking ignorance.

sounds like we have diversity of opinion...

...always a good thing. My take is that there is no winning this argument because there is no consensus as to what "rich" means. And what it is that is supposedly is taxed. I assume this chart represents an income tax. Most Billionaires have no complaint because their wealth is mostly taxed on their capital gains. Warren Buffet for example, reportedly pays income tax on his official salary of $100,000. A lot of "less rich" people (self made millionaires) get soaked, get tired of it, and take their wealth and citizenship to foreign refuges, leaving the rest of.us to pick up the tax bill. This stealth wealth drain represents a real threat to the country. NY, Illinois, and California are already facing the choice of insolvency, massive spending cuts, or massive (and ultimately regressive) tax hikes because they ran off their upper middle class to more tax friendly states.

Your anecdotes don't hold water

I'm a self-made millionaire and I am nowhere near soaked. Nowhere. Near. Soaked.

Got any facts to support the claims about the stealth wealth drain?

California's insolvency has nothing to do with said drain, and everything to do with their systems of populist propositions. They are going broke because they have not raised taxes to keep up with their infrastructure needs.

I really would like to see objective evidence that upper middle income earners move to lower tax states. I've looked, but all I can find is right-wing anti-tax propaganda that is laughingly shallow. I'm not saying you're wrong ... I just haven't been able to find corroborating evidence.

That said, the chart speaks for itself. We are approaching an historic low in overall taxation for top brackets ... the same kind of historic low that preceded the Great Depression. Was that trend causal or coincidental? I don't know ... but the current trend seems absolutely causal.

Facts? How about Detroit.

Facts? How about Detroit. Seems pretty prima facie to me. Anyone who could get out (i.e.- had the means, or wealth if you prefer) did escape. As a result, Detroit's tax base has shrunk drastically.

Then there is the results of this Marist poll, the proprietors being not particularly known for the purveyance of right wing anti-tax propaganda:

"Indeed, more than one in three New Yorkers under the age of 30, some 36 percent, want out, the survey by the exemplary NY1/YNN-Marist pollsters found.

"Unchecked," says Marist's Lee Miringoff, "this threatens to drain the state of the next generation."

Overstatement? Detroit lost a quarter of its population between 2000 and 2011; absolutely, it could happen here.

Indeed, Buffalo already lost 11 percent over the past decade. Overall, the state's population grew slower than all but three other states.

What don't folks like about New York?

A whopping 62 percent cite economic factors, like the high cost of living, insufficient jobs and -- yes -- high taxes (which, by the way, feed the other two).

That's no surprise, actually. New York leads the nation in state and local levies, with property taxes right at the top:

* The 15 counties with highest property taxes in the nation, as a percentage of home value, are all in New York.

* Nassau and Westchester are the two most heavily taxed counties in America, in absolute dollars.

* The state's median property tax is almost double that of the nation.

Meanwhile, the huge burden on businesses -- which pay five times as much in property taxes as in corporate-income taxes -- drives away investors. And jobs."

I'm going to close comments on this

Happy to talk with anyone who wants an explanation in detail (reach me through direct messaging here) ... but the bottom line is this: I'm not going to put up with personal attacks from anonymous assholes. Not now, not ever.

For those who want to step out from behind the cloak of invisibility, you're more than welcome to write whatever you want. Otherwise, you expect that any personal attacks will be deleted, as they have in this discussion, without explanation or comment.