April 6, 2013

On September 6, 2008, Senator Barack Obama told AARP members:

Less "bluffing" and more clarity, please!

March 28, 2013

Let's look at history: where did income tax brackets fall?

Most discussion of tax history mentions the top marginal rates of the past (91% in the 50s, 70% in the 60s and 70s, 50% through most of Reagan's presidency, etc.)

I like to highlight a different aspect: leaving aside what the rates were, where did they kick in? We live in times where people argue "are couples who make $250K 'rich'?" "Should we raise taxes on people who make over $250K? Over $500K?"

Where did these sorts of things lie in the past?

Using the inflation adjusted historical tax bracket tables from The Tax Foundation for married couples filing jointly, let's break it down a little and find out the equivalents in 2012 dollars:

1945:
Total number of brackets: 24
# of brackets only affecting income over $250K: 14
# of brackets only affecting income over $500K: 9
Top bracket affects income over: $2,551,044

1955:
Total number of brackets: 24
# of brackets only affecting income over $250K: 16
# of brackets only affecting income over $500K: 11
Top bracket affects income over: $3,426,776

1965:
Total number of brackets: 25
# of brackets only affecting income over $250K: 13
# of brackets only affecting income over $500K: 8
Top bracket affects income over: $1,457,740

1975:
Total number of brackets: 25
# of brackets only affecting income over $250K: 9
# of brackets only affecting income over $500K: 5
Top bracket affects income over: $853,509

1985:
Total number of brackets: 15
# of brackets only affecting income over $250K: 1
# of brackets only affecting income over $500K: 0
Top bracket affects income over: $360,650

1995:
Total number of brackets: 5
# of brackets only affecting income over $250K: 1
# of brackets only affecting income over $500K: 0
Top bracket affects income over: $386,423

2005:
Total number of brackets: 6
# of brackets only affecting income over $250K: 1
# of brackets only affecting income over $500K: 0
Top bracket affects income over: $383,773

2013:
Total number of brackets: 7
# of brackets only affecting income over $250K: 2
# of brackets only affecting income over $500K: 0
Top bracket affects income over: $440,876

Special Bonus Gipper edition numbers:
1988:
Total number of brackets: 2 (No, not a typo. Two brackets)
# of brackets only affecting income over $250K: 0
# of brackets only affecting income over $500K: 0
Top bracket affects income over: $57,738
(There was a reason why Poppy Bush had to go back on his 'Read My Lips' line -- this rate was so low it was unsustainable (naturally, they crucified him for it). And every RWNJ wants to go back to this, or lower...)

ALL income tax progressivity for very high incomes was eliminated under Reagan, and has stayed that way ever since.

March 14, 2013

So what is Bizzaro World saying about Scott Prouty?

Are there any reports from RWNJ-land?

February 19, 2013

What's the hotline to MIRT?

I just served on a jury for a post by an obvious RW bigot, first-poster, who'd signed up about 15 minutes prior to the jury session. Does MIRT get jury decisions automatically and review them for appropriate persons, or is there a direct reporting system?

January 9, 2013

Pat Robertson predictions from Jan. 1991: how'd his "special link to God" serve him?

I was cleaning out some old papers and found some notes I'd jotted down while watching Pat Robertson on his 700 Club show (back then I'd occasionally monitor Robertson and other politically active RW religious figures**cough**nuts**cough**)

The date on it is 2 Jan 1991, so just over 22 years ago. At the time it was halfway through Poppy Bush's presidency, 5 months after Saddam Hussein had invaded Kuwait, and a little over 2 weeks before "Operation Desert Storm" (i.e., while military assets were still being moved into place).

Pat "special link" Robertson's predictions and comments:

Considering the lack of opposition from the then-nearly-collapsing Soviets, the short war wasn't all that tough to predict, though I think he had in mind weeks not the "100 hour war" that resulted (as long as you don't count our presence in Iraq for the next 10 years). I haven't looked up how the interest rates, prime rate, and stock market fared. I think his "special link" glitched on the '92 election, and gee, somehow we didn't collapse in '93. As for the rest, the only rational response is to point at him and laugh one's fool head off.