Originally Posted By: DBAppraiser
Dave, there are way more people making over $100,000 today versus 1935 and comparing the tax rates from then and now probably isn't very effective. $1 in 1935 had the same buying power as $16 dollars in 2010. So, if I'm figuring this right, the $100,000 earned today would be equal to $6,250 back then. That $6,250 would put you in the 10% bracket, not 25% as today. I doubt that $625 was easy to swallow in 1935 as that was the depression, I do know that I'm not enjoying sending off $14k though. I would much rather stimulate the economy with about $5k of it on a new O/B bracket for my Olympic. Maybe next year.

One other thing to consider is that there are a lot more people to fleece now as compared to the 1970's and the 1930's too. You can drop the rate some and make up the difference in volume. smile



Your points are well taken. And I do understand the lack of love for taxes. It has always been so. I paid about the same as you and would have liked to keep it all. But I also understand we need to pay for our wars, our highways, airports, etc. If not me, who?

If you look at a more recent year, say 1968, you see the tax rate on $6,000 was 25%. What I don't understand it how today so many are howling about their high taxes when that was not such a big thing back then. What has changed? Perhaps a continoue PR campaign by those who want the American dream but do not want to help pay for it?



Edited by Dave Vedder (03/17/11 09:30 AM)
_________________________
No huevos no pollo.