/biz/ - Business & Finance

>>18169742
obama is a nigger, did you know that?

>>18169742

94%, damn

>>18169742
Why was reagan so shit. illegal amnesty in california then dropping the tax rate.

I wonder what America was like with a 94% tax rate.

>>18169909
A better country.

>>18169742

That's because in the past there were deduction you could take, aka "tax loopholes" which actually meant the rich were paying less in taxes.

So the rate was higher, but with all the deductions, they actually ended up paying less.

Today, we have less deductions, and we are paying more than in the past, even thought the rate is lower.

Get it?

>>18169742
Bush with BASED 33

>>18169742

It doesn't because it's socialism. It requires humans to be selfless entities that want to serve the common good all the time without benefiting from it in any way. Does that sound like human nature?

Imagine how rich we'd all be if we taxed the rich at 99%

I bet I'd have a mansion and Ferarri. What kind of car would you guys have? Lamborghini maybe?

>>18169742
because no one paid those ridiculous tax rates. There were more exemptions and loopholes than there are today. Look at places like singapore, hong kong, the uae, and monaco. Their economies are booming and they have some of the lowest taxes in the world

>>18170002
>>18169981
Seemed to work just fine at the time

>>18170002
>taxing the Uber wealthy from having enough money to own every government official twice over is about making us have excess instead of raising the levy on middle class that has essentially disappeared in America since lowering taxes for the ultra rich.

>>18169952
this anon gets it

>>18169909
It was actually a first world country.

>>18170103

Is that because of the tax rate or less illegals asking for free shit?

>>18170002
Yea, think of all the money that workers in the store will lose if their boss cannot buy himself a lambo or rolex this week after trashing his old car from last week.

>>18170122
Before the government was ruled by plutocrat and small hats we didn’t have third-worlders jumping our fence for gibs.

Do you have to lie, OP? Also

>income tax
>affecting billionaires, or even anyone with a NW north of $50m

These people don't make their money at a day job taxed as conventional income taxes. The top 0.1% of W2 earners make $1.5m, that's the standard salary for a doctor or high tier professional in NYC or San Fran not your ebin billionaire.

because in 1940-1970, only 0.01% of the population was in that tax bracket so no one was complaining about the absurd tax rates.
now there are way more so they will fight against it.
get a job stupid commie

>>18169952
I disagree, they probably pay far less tax with the use of tax havens.

>income tax

>>18169909
Technically the greatest middle class in our history, funny enough.

The problem is the 40% applies to middle class earners, when it was 94% there were about 50 tax brackets and middle class was at about 10%, you would have to be making dozens of millions in wages to hit the 94% bracket.

>>18169884
He's a God damn hero you cuck. He saved American values from turning into eurostan values, and he defeated the commies which none before managed.

>>18170457
Ebin. He's a neoliberal cuck who banned guns and opened borders

>>18170457
Thank god we are now a Hispanic-Libertarian paradise

>>18170506
>>18170457

I'm conservative and have a mixed opinion of him. Kind of a statist/globalist even though his influence was overall positive and pro American.

>>18169909

You do realize it was a 94% tax only on the income after a certain threshold, right?

>>18170506
If he was so liberal, then how come commies and libshit socialists hate him? Nice revisionism to turn a great republican hero into one of your own, libshit

>>18170556
2/10

>>18169742
I'm by no means a fan of Reagan, but I blame the downfall of the western world much more on FDR, Eisenhower, and Linden B. Johnson.

>>18169981
You know humans are social animals, right? You know we'd still be below apes without a social structure, right?
Fucking jew asslicker pos

>>18170556
What if he is hated because his policies were shit but you are just a personality cultist who has no idea what he did or stood for?

>>18170627

LBJ is without a doubt the biggest cancer of the 20th century

>>18170650
https://youtu.be/vC8abMHddv0

>>18169981
Boy howdy, what a false dichotomy this is. You do realize that serving a common good can be done for selfish reasons and provide personal benefits, right?

>>18170610
Keep crying.
>>18170647
Don't care, all I know is my family loved him and he killed USSR, saving the west. No man is perfect but this one was pretty closed.

>>18170556
The last great Republican was Theodore Roosevelt. Been downhill ever since.

>>18170704
Technically he was a third party candidate.

Why is communism so big in the "Business" board?

>>18170704

Nixon, other than the scandal, was actually a pretty solid President. His resignation was something of a forced hitjob by a media we still didn't understand to have a political agenda of their own.

>>18170160
Lose? I'm talking about all the money they'd GAIN. Are you retarded?

Also most of the high tax rates were due to wars and us needing to fund them sooo....

>>18170758
I personally find it interesting that the 2 presidents that did the most for wilderness, forests, water and air quality were Teddy Roosevelt and Nixon

>>18169981
>without benefiting from it in any way
Poor baby billionaires will only be able to spend a few hundred million, how will they fucking cope with NO benefits whatsoever.
Are you retarded? Seriously, have a word with yourself.

>>18170002
>tax at 99%
>no incentive to make further marginal gains past that bracket
>tax revenue goes to zero

https://en.wikipedia.org/wiki/Laffer_curve

>>18170758
This, NIxon was not a crook. He said so himself.

>>18170799

They were two pragmatic guys that kind of marched to their own beat. Unfortunately sometimes that means you go out of the way to wiretap political opponents. But hey, now everybody gets spied on!

Teddy kneecapped hyper productive industrialists which handed the country to (((wall street))).

>>18170756
There are still businesses, markets, and economics in communist theory, contrary to mutt education of it

>>18171033

It's demonstrably terrible and counterproductive as an economic model. It's like WWE threads on /sp/

>>18170543
I don't get you fucking anti globalists. Don't you see that if America stops defending its interests abroad its empire will crumble and nations like china or Russia will start being able to strong-arm the US?
the whole "helping others" used to be just propaganda, the problem is you Americans started believing it yourself.
but the people who it benefitted most to be leaders of the world was obviously you. And you gave it up willingly.
failure of a democratic empire. i guess history does repeat itself.

>>18171077

Have you heard of the concept of a healthy balance? We put our own society at risk when we outsource all manufacturing capability and disenfranchise large swathes of the population. I believe that economic independence for every individual American is critical for the health of the democracy and by extension the country. So I'm a limited globalist, and believe we've jumped the shark with China.

If you're wondering what happened in 2000, China entered the WTO with no prohibitions. Manufacturing had a mass exodus rapidly thereafter. The Midwest got crippled and turned to opioids and welfare. We can't even produce masks and ventilators for ourselves anymore. That is not the recipe for a healthy, independent superpower friend.

>>18169742
Globalism. The rich couldnt run their comanies efficiently from overseas then, they are able to now and able to exploit every benefit that brings.

>>18171014
Are you thinking of Franklin Roosevelt?

>>18171209

No lol Teddy was a trust buster. There was no industry or Wall Street to speak of under FDR.

>>18169981

The problem with socialism is that whites don't want to pay into a system where the majority of society of shitskins and Jews that doesn't contribute at all.

The American middle class hates the poverty class 100x more than they hair the elite class. The middle gets fucked by both, but they the middle shares that view with the elite.

>>18171209
Nah. Teddy "trust buster". His attack on American manufacturing permanently shifted power over from guys who built stuff to money changers.

No one paid the highest marginal brackets redditniggers they owned equity so they paid capital gains mostly

saged

>>18170457
>American values
>open borders
>amnesty
>gun control
>no fault divorce
>cucking to Israel
>cucking to billionaires

Fag

>>18171014
Unironically true, we were on the verge of re-establishing an aristocracy built on industrialism after the Civil War destroyed the one built on agriculture.

>>18171077
Running a global empire despite appearances is self destructive in the long run. It's a classic Icarus story. Which country is more stable, a protective country that puts strict limits on citizen access, avoids entering foreign wars, and puts emphasis on improving the lives of it's citizens like Switzerland?
Or a country such as the US where immigration and laws against hiring illegal migrants aren't enforced, affirmative action, and a high military budget makes the average Joe worse off both economically and socially?
Rwanda is a good example of the economic success that comes with rejecting globalism, it was the only east African country that stuck to their guns and banned importing used clothes, and now their economy is one best in the region. Plus you don't have a bunch of third worlders walking around wearing soccer jerseys and basketball shorts. They actually mkae their own clothes which has always been the foundation of any economy.

>>18171224
>>18171242
Wow, now I Teddy went from being one of my favorite to one of my least favorite presidents.

>>18170548
Still better than no excessive wealth tax.

>>18171333

Yeah.. a country that's just outsourced throughout the world rather than being self-sufficient is hardly a country, it's just a big shell corporation. A gust of wind could knock it over.

I believe in some limited global trade to encourage competition and fill in the production gaps but outright dependence in many industries is just retarded and cancerous long term, on many levels. These countries aren't our friends and many of them figured out how to leverage their standing as primary producer to hurt us.

>>18171396
Switzerland is going to always be fine. They hid Nazi gold and didn't even get a slap on the wrist after the whole affair.

>When communists have such virulent hatred for the rich they don't even care how money is used when it's taken from them

>>18171414

They're an outlier meme honestly. A super niche country. Literally mountain dwarf bankers.

>>18169909
>At least 1/4 of the population was below the poverty line
It was shit, anon.

>>18171352
but he carries a big stick

>>18171224
>no Wall Street under FDR
wut. this is your brain on public education.

>>18170457
Reagan was a neoliberal retard. He was the opposite of a hero.

>>18169909
94% on the top .1%, who didn't pay it

>>18171444

Brah that shit was KO'D for a decade after 1929. Then the war happened.

>>18169742
There were no alternative countries to go to. Europe and Asia were destroyed, South America and Africa weren't developed. If the rich wanted to live somewhere rich and safe from 1940 to 1989, they had to chose USA or Canada.

>>18171469
They were literally funding Bolsheviks and brownshirts while fellow Americans were starving in the dust bowl.

>>18169742
Does it matter if it works? My gun works; does that mean I'm allowed to shoot you with it?

>>18171414
Nah it's a meme that they didn't get jewed for it

>>18170038
I wouldn’t use one trick pony tax havens as an example of a well run system to be the us on.

All the oil countries are rich to, should we become theocracies?

You need to find a country that’s prospering that all nations can copy their success.

>>18171077
Globalism is without a doubt the most efficient way to allocate a limited amount of capital. The countries that practise it will always have more than those who don’t. After 100 years these gains add up, which is why the G-7 is so much richer than most, and you have big discrepancies in wealth among even those rich members.

To bad the benefits are hoarded though. We need to spread them around or face the consequences that those being left behind will be politically motivated. desperate to elect any who claims they can help them no matter how incompetent they may be.

>>18171033
Yes but without money as a motive it stifles innovation. I mean I'd rather be a janitor or work at a hotel than advance technologies if I get paid the same

>>18169909
you know whats funny is middle class was at its strongest during that period of time.
really boggles my mind.

>>18171033
>Markets
>Socialism
Let me guess, you support Scandinavian "socialism"?

1. Hard currency like bitcoin
2. Flat wealth tax instead of income tax

Of course, this would never happen, but if it did, it would lead to an incredible society.

>>18172452

Yeah it was because they weren’t getting taxed enough, the whole outsourcing + mass immigration thing from the 70’s onward had nothing to do with it. If we tax the middle class harder they’re going to do better, it’s simple math!

>>18172743
Agreed.
Also, it is racist, transphobic and misoginistic to question taxes. Just give money to the government, you bigot.

Nooooooooooooo you can't just tax the wal mart heirs! They worked so hard for their money! No no no no no!!!

>>18172944

>the Wal-Mart heirs pay income taxes when 99.9999% of their wealth is in equities

>>18172944
Will Sanders collectivize his Audi R8?
I will become a Stalinist if he does.

>>18169742

Why don't leftists understand the difference between a marginal and effective tax rate?

>>18170548
Yeah which causes biz to hit that threshold then tell employees to fuck off. Hurting economy. You’re a fucking retard. Gg

>>18169742
>Why did it work for most of America's history?
Harder to move offshore.

>>18170443
People don't read political commentary unless it's boiled right down to simple terms, at which point anyone with an agenda is going to exploit the shit out of the missing details.

>>18173078
Who pays wages out of their personal income and not their business income, and where do you live that business wages aren't tax deductible?

>>18169884
>illegal amnesty in california
>Had a whore of a wife that brought literal witchcraft into the Whitehouse
>Dude no fault divorce lmao
Take your pick

That's a really deceptive image, in a number of ways

>>18172212
>globohomo es #1
citation needed

>>18169742
meeting a certain taxation % doesn't transform you into a socialist hellhole.
surrendering your ability to care and choose for yourself to an organization does transform you into a socialist hellhole.
most of real politics is centered around a trade off between long term health, and short term suffering. when short term suffering reaches an unsustainable point, long term health is sacrificed to ease suffering. If this happens enough, the system breaks down and long term health can no longer be leveraged to combat short term suffering, because the long term health is degraded to long term suffering.

all cycles, organizations, groups, friendships and otherwise social engagements suffer from corruption and degradation over time. the only way to combat this corruption is to engage in short term suffering for a good cause. this is essential on all levels of human endeavor. the only times long term health should be leveraged for short term relief of suffering is when the suffering is UNAVOIDABLE and UNSUSTAINABLE.

for instance; you have a virus that kills. you can depend on the government to save you, because you're too stupid to realize that the momentary pleasure of seeing the economy shut down to save the vulnerable from suffering, sacrifices such a huge avalanche of future gains, to the point where your future gains are now losses, and are losses enough to RUIN lives.

socialism is tremendously inept at handling these opportunity costs between health and suffering.
capitalism is fairly inept at handling these opportunity costs.
everything else that has been tried is so far below even socialism as to be laughable.
successful humans choose the most efficient flawed solution, not the impossible utopian solution.

>>18170704
Perhaps.
Personally I say Ike, despite the regrettable foreign policy during his tenure.

>>18169976
Will we ever get 42?

>>18169742
It worked? That's new.
Imagine being so retarded you think you will fix income inequality with something unfair and stupid.
"Yay 2 mistakes cancel each other"

>>18174376
Oh and I should add OP is a complete retard, the typical retard actually, that thinks fortunes are made with taxable income "damn ceos" totally unaware that the rich get rich via asset appreciation which they never sell (no sale no tax).

Gogo tax income at 100% even if you want, Warren Buffet is going to piss himself.

>>18169909
It was white as mayo.

>>18170103
>>18170354
>>18169939
0 iq

>>18174232
Seethe lol

>>18174376
>that image
holy shit, austrians never cease to amaze

>>18170678
NO YOU CANT USE COMMON SENSE AND LOGIC WHILE ALSO NOT BEING EXTREMELY CYNICAL NOOO

>>18170457
He is literally to blame for all the problems facing america now and that's not even a joke. Even the idea of C19 and how fast its spread here can be pinned on him. He basically built up the left by gutting the mental health system in this country, made america's future brown, brought on worse race relations. What fucking good thing did he do? He might have even been a closeted homosexual. He was fucking terrible

>>18169742
nobody paid those old tax rates

https://www.youtube.com/watch?v=W9XMNV2B18c

>>18172743
>t. brainlet poorfag who doesn't understand understand tax brackets because they have never filed a tax return in their life

The middle class were actually taxed less back then. Every administration since Reagan has shifted the tax away from the super rich and onto the middle class.

I bet you still hold link.

>>18170704
Seconded for Eisenhower

>>18175058

Income taxes are purely a drain on the working class retard. There is no "lower class, middle class, and upper class" in modern America. There is the welfare/dependent class, the working class, and the elite class. Income taxes only affect one of those. That guy making $300k/year is still living paycheck to paycheck and has to wake up at 6 am every morning, he is not your enemy.

>>18175549
Elite, nawh dawg - the word is parasite.

>>18170924
>Tax at 99%
>Businesses invest in R&D instead of paying out enormous dividends
>Digital age is created
Yeah, pretty based if you ask me.

>>18175610

I mean, both elite and welfare people could be construed as "parasites." Imagine if everyone who got up and worked 30-100 hours a week actually had their interests pushed in DC.

>>18174232
Wow, this is unironically a great summary anon. Based and philosophypilled.

>>18170556
Because he also did shit that pissed them off too.
Just because something is bad for the Right doesn’t mean it’s good for the Lefts
It’s possible to make policy decisions that piss both ideologies off
He was a retard overal

>>18170457
Lick that boot harder
He was a retard that fucked the country up and caved to pearl-clutchers, banks and arms manufacturers.
He also had fucking dementia

>>18170457
He also burned the future of the country for the short term benefit of the young generation at the time, the Boomers

>>18174232
Based