Tax Reform

Nov 2012
41,310
11,878
Lebanon, TN
Yeah, didn't happen....
Didn't Clinton raised taxes on the working class in 1993, Clinton Cut the Taxes rates on the investor class by ~40% in 1996.

Obama raised taxes on the working in 2012 (passed in 2010) in his tax reform, and also added 21 new taxes in Obamacare.
 
Last edited:
Jun 2013
5,707
1,735
Katmandu
Yeah, didn't happen....
In 1993 Clinton signed into law a top rate of 39.6% on income from labor which is also subject to 15.3% FICA taxes.

In 1997 Clinton reduced the top rate on capital gains to 20% and lowered the 15% rate to 10%, which was also exempt from the FICA taxes.
 
Nov 2012
41,310
11,878
Lebanon, TN
In 1993 Clinton signed into law a top rate of 39.6% on income from labor which is also subject to 15.3% FICA taxes.

In 1997 Clinton reduced the top rate on capital gains to 20% and lowered the 15% rate to 10%, which was also exempt from the FICA taxes.
Poor goober came to a battle of wits Unarmed and outnumbered.
 

DRK

Aug 2019
3
0
U.S.
Everyone agrees we need tax reform, but what it looks like when it gets passed is what the lobbyists dictate to the hacks.

How about some principles, like the government should not pick winners and losers.
Should the government treat all income the same for tax purposes?

Should the wages of labor be taxed at the same rate as the wages of capital?

Or is there a reason that we favor owners over workers, beyond the fact that owners "invest" more in the political system in the form of lobbyists and campaign funding than labor does?
Having some principles sounds like a great idea.

The only one worth having, in my opinion, is that taxation leads to complication, division, expense, and immorality.

The less tax, the better.