Conservatives Are Stupid At Times

As Instamoron "Heh indeeds" his way into yet another basic fallacy about the US tax system.

UPDATE: Can you say “going John Galt?” Upper-Income Taxpayers Look for Ways to Sidestep Obama Tax-Hike Plan. “A 63-year-old attorney based in Lafayette, La., who asked not to be named, told ABCNews.com that she plans to cut back on her business to get her annual income under the quarter million mark should the Obama tax plan be passed by Congress and become law. So far, Obama’s tax plan is being looked at skeptically by both Democrats and Republicans and therefore may not pass at all.”

Dear idiotic Conservatives: please look up the definition of MARGINAL TAX RATE. You know what that means? It means you only pay the higher tax rate on the income above $250,000. If you earn $270,000, you only pay that highest marginal tax rate on that last $20,000. That higher tax rate would be a couple of points higher, to the Clinton era rates of 1994, 39.6% for everything above $250,000. It would not change your entire taxation rate to that maximum number, only the margin above $250,000. That is why it is called a MARGINAL TAX RATE, you MORONS.

Now, having said that, marginal tax rates during the Great Depression were 63% in 1931 to 90%+ by the time WW II was ending in 1945. By comparison, 39.6% is downright reasonable. However doing this is "punishing the most productive members of society." After all, it's not like the rest of America isn't being punished right now by these trillion dollar losses these "most productive members of society" made. It's not like Bernie Madoff conned this society out of $50 billion.

So no, we should reward these idiots instead. Let's cut taxes on them! Our financial system is in ruins and the country is in a death spiral because of the decisions the wealthiest people in the country made, but the best way to get out is to cut taxes on them!

When the wealthiest 10% in this country control over two-thirds of the wealth in this country, there's a problem. They lost it because they got greedier for more. Time to pay up.