75% tax has happened

[Smittie61984]

Originally Posted by Sean

Do we all want to return to the 95% top tax rate that we once had?

FDR tried to get it to 100% in the late 1930s.

Originally Posted by Homeslice

No, but why does everyone act like the country will fall apart if Bush's TEMPORARY tax cuts are allowed to expire?

I think the issue is more that wether bush's temp tax cut goes up or down won't make a difference. If Bush's tax cuts go away and we raised everyone's taxes to 100% it still won't cover this year's budget much less do anything to take us out of our defecit. Higher or lower taxes isn't the issue so why not let everyone keep more money. What really needs to happen is the government needs to lower its spending. When they do that then we'll talk about giving them more money.

[fujimoh]

And don't forget about the AMT that is hiding and waiting to ambush middle class taxpayers in America