I feel this article merits re-posting:
http://www.businessinsider.com/history-of-tax-rates
The chart's a little wonky to figure out. It's the tax rate at the highest tax bracket - ie, the multi-hundred-thousand bracket. As of this year, 2015, you hit that "highest rate" at $400,000 income. The highest rate being about 35% (actually, IRS states it's just under 40% for 2015). Compare to... every other time in US history.
70% in the '70s
80% right before WWII
90% in the '50s
Let's pick the "fairest" of these - the 1970s. I'm going to throw some numbers at you:
$1.4 million today -> $.9 million, after taxes
$1.4 million 1970s (or about $236,000 in 1970) -> $570,000. About half your $1.4 million.
So today, you keep most of your millions, about 2/3rds. 1970, you keep about half of your first million, then 1/4 of the next several millions.
(Calculations from hand on this site: http://taxfoundation.org/article/us-federal-individual-income-tax-rates-history-1913-2013-nominal-and-inflation-adjusted-brackets. About 6x for inflation.)
Is that 70% "rich" taxation fair? Fairer than 40%?
Yes.
Consider the practical aspects of what these taxes go toward. They go toward national security. Infrastructure (roads, airports for that private jet). Social Security and other boring stuff.
Stuff that makes America go 'round. Stuff that lets you keep the majority of your millions you rake in from your CEO paycheck, plus bonuses (who else is going to lay off those workers, after all?)
Taxes pay for things that allow you to maintain your company and lifestyle in the US. Living here isn't always a choice, but doing business here is definitely a privilege. One that you should acknowledge and, gee, pay for...?
You want more numbers? Okay.
http://www.usgovernmentspending.com/federal_budget
About $1 trillion to pensions, another to defense, and another to health care. And half a trillion to corporations, because they're cute and starving.
What?
Actually more. This link gives a small little look at some of the loopholes created for large businesses.
I can't even find how much corporations are being subsidized by the government. More than a trillion...?
WE SPEND MORE ON CORPORATE WELFARE THAN ON PEOPLE WELFARE ($.4 trillion for the little guy).
This is true. Shit like this boggles the mind. Click if you haven't spat up on your computer by now.
Corporations ARE people. They're people who count.
I'm actually really fucking pissed right now. Chew on that. I literally can't write any more.
-Upper Mgmt.
