america's doomed. we are officially all out of rich people.
theres nobody left that can afford to pay taxes. how do i know? i checked.
rich, in this day and age, is anybody or any family that earns four hundred thousand dollar a year. ($406,751 if youre single, $457,601 if youve got a husband at home smokin weed and watchin your kids.)
and thats not rich. seriously. its not.
obama takes 40% off the top of that, so he can buy golf balls, and youre already down to a quarter mill. ;) and anywhere youre earning 400k, youre probably paying at least 120k a year in rent... and now youre down to a mere 100 grand to spend. food might be 2,000 bucks a month. you might have to put another 40 or 50k away each year for your kids college... all of a sudden you gotta get by with only 500 bucks a week for coke. its not rich. not even close. if we gave these poor urban professionals making a mere 400k a tax break, it wouldnt bother me at all.
but we used to have rich people. not sure why, but somewhere along the line, we just took em off the books.
back in 1950, you had to make 400,000 a year to be rich. to hit the top tax bracket. and those bastards were rich. four hundred thousand dollars a year in 1950 is almost exactly the same as four million dollars a year in 2015. in fact, its so close, we'll just go ahead and call it exactly the same. they actually were rich. and we charged em an arm and a leg for providing all the services that allowed them to get that rich. once youd hit your 400k, truman would take 84% of everything more than that. and by the time eisenhower got done, the feds took 91%. (he lost a lot of balls.)
so... whats changed since the 1950's? where the hell did all our rich people go?
nothings changed since the 1950's.
the top tax bracket is still four hundred thousand dollars. its just been adjusted down to reflect the fact that the top tax bracket is no longer for the wealthy. its for the middle class. we cant raise taxes on the top tax bracket now, because its so friggin low we hurt real people if we do that.
there just might, however, be a solution. that could restore this nation to it former glory as a nation of wealthy people.
we can make the top tax bracket for the rich again. and make it for incomes of four million dollars per year and up.
if we want to raise taxes on the top income brackets (and we do) then we have to redefine what the hell "top income" is. because it definitely isnt 450k a year.