Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Chuck and Savannah serve up a heap of steaming tax misinformation

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » General Discussion Donate to DU
 
dorkulon Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-14-11 09:26 AM
Original message
Chuck and Savannah serve up a heap of steaming tax misinformation
Edited on Thu Apr-14-11 09:40 AM by dorkulon
Just a few minutes ago on MSNBC's "Daily Rundown," this was the 'trivia' question they went to break on:

"For a time, the top rate of income tax in this country rose to 77%. When was it?"

The answer, we're told, is 1918, when it was raised to help pay for WWI.

None of this is false, but it seems obvious that the average viewer would take away from this Q/A that this was the highest US income taxes ever got.

In fact, the top bracket paid over 90% income tax for 20 or so years, from 1944 on. Ironically, this is pretty much the exact stretch of time referred to by conservatives as 'the good old days'. All that revenue paid for huge infrastructure and public service improvements, and helped create that robust middle class we're now stomping the last vestiges of life from.

If you look at our tax rates from 1936 to 1982, there isn't a single year the top tax bracket doesn't pay over 70%. In fact, '64 is the first year the the top rate comes DOWN to 77%. (source: http://www.taxfoundation.org/publications/show/151.html EDITED TO ADD: http://www.taxpolicycenter.org/taxfacts/displayafact.cf... )

Since almost nobody seems to know this anymore, it would be nice to have seen SOMEONE on TV refer to these facts, but I don't think I ever have. Instead, we get a piece of misleading information which seems to have been tailored to make us think the highest income tax has ever been was much lower, briefer, and longer ago, without technically lying.

This is the 'liberal' network?

Printer Friendly | Permalink |  | Top
SpiralHawk Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-14-11 09:28 AM
Response to Original message
1. Ahhh, the Good Old Days
Edited on Thu Apr-14-11 09:29 AM by SpiralHawk
Why are republicons such total stanky hypocrites about Ye Good Old Days?
Printer Friendly | Permalink |  | Top
 
RUMMYisFROSTED Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-14-11 09:32 AM
Response to Original message
2. The Tax Foundation is a right wing org masquerading as a non-partisan.
Edited on Thu Apr-14-11 09:34 AM by RUMMYisFROSTED
I'm seeing their link popping up more and more. :freak:



eta: Not that the bracket info is false. It's their conclusions that are often disingenuous.
Printer Friendly | Permalink |  | Top
 
dorkulon Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-14-11 09:39 AM
Response to Reply #2
4. Here it is from Brookings:
http://www.taxpolicycenter.org/taxfacts/displayafact.cf...

I've seen the numbers before. I suspected as much about something as ambiguously named as the "Tax Foundation," but that PDF embed looks like it's from the IRS.
Printer Friendly | Permalink |  | Top
 
RUMMYisFROSTED Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-14-11 09:57 AM
Response to Reply #4
5. I noted that the #'s were accurate in my edit.
Just giving a heads-up on the TF.
Printer Friendly | Permalink |  | Top
 
dorkulon Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-14-11 10:26 AM
Response to Reply #5
6. Cool. nt
Printer Friendly | Permalink |  | Top
 
FormerDittoHead Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-14-11 09:32 AM
Response to Original message
3. Good catch. The wording is VERY suggestive. "77% is RIDICULOUS!!!!" n/t
Printer Friendly | Permalink |  | Top
 
jwirr Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-14-11 10:48 AM
Response to Original message
7. I don't think Chuck Todd is a liberal. I always take everything he says
with a grain of salt.
Printer Friendly | Permalink |  | Top
 
toddwv Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-14-11 01:17 PM
Response to Original message
8. Yeah. Seems like every time I turn MSNBC on during the day,
they have a Republican explaining why we need more tax cuts and less food, clothing and medicine for poor children.

Still no word on our ridiculously bloated "defense" spending which seems to always go up every year even though there are currently no credible threats to our sovereignty.

Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Sat Apr 19th 2014, 09:22 PM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » General Discussion Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC