Two countries-Same pitfalls?

[Buzz]

signgirl, welcome to the world according to yardley. He knows all and will dazzel you with facts and data based on government "studies" and then adds his spin to clarify it for the rest of us idiots. You will be so relieved that you can now rely on his vast experience to straighten out your misguided opinions (which I thought were excellent so they must be wrong)

What has been the trend in taxes since Eisenhower was president?

[dback]

signgirl, welcome to the world according to yardley. He knows all and will dazzel you with facts and data based on government "studies" and then adds his spin to clarify it for the rest of us idiots. You will be so relieved that you can now rely on his vast experience to straighten out your misguided opinions (which I thought were excellent so they must be wrong)

You guys ease up on Yardley....his posts today have been down right tolerable, fair and objective ..... not to say that I'm not having some problems with this one but hell 1 for 5-6 is a damn good batting average. I know you did it just for me Jeff Carry on!

[M&K's Retrievers]

What has been the trend in taxes since Eisenhower was president?

Duh!! What's the trend been since Washington?

[YardleyLabs]

Explain please

The employee share of Social Security and Medicare payroll taxes was 4.8% in 1970, 6.13& in 1980, and 7.65% beginning in 1990 and continuing through today (For the self employed, double these rates). In 1970, this tax was only paid on the first $7000 in income. In 1980, it was applied to the first $25,900, in 1990 to the first $51,300, and today it applies to the first $106,800. The Medicare component of the tax has consistently been applied to the first $125,000, although this is now increasing.

Looking only at the Reagan period, the rate pre-Reagan (1980) was $1316/year for someone with an income of $45,000. In 1988, that same person with the same income would have paid $2727/year, or an increase of 107%.

EDIT: I left out the Medicare tax, which is on top of Social Security and Disability and is currently 1.45%, which is reached under Reagan. At the beginning of Reagan's terms, it was 1.05%, for a 40% increase.

[zeus3925]

It was my understanding that as much as 50% of the US citizens do not pay federal income taxes. Is this not theO case? So with a social security rate of around 7% how have the taxes on the lower income people increased as a total percentage?

Then there are those who belong to the Leona Helmsley Society that believes the rich should be exempt from income tax. Just one Swiss bank had 42000 accounts from American tax dodgers.

[signgirl]

I love it...I watch you all lob bombs at each other, looking at the opposing opinion as fodder for your rebuttal. Do you honestly believe you will change any minds on this forum? Everyone here is already committed. No party is that good or that bad. I admire all of you for being informed...but holy cow...talk about closed minds!

The reason I commented here was because no matter what the topic, the thread goes back to the 'inept/evil' Dems or the equally 'inept/evil' Republicans.

This is my theory...I never expect to persuade anyone to see the world from my eyes. This does not mean you won't get an opinion from me...Lord knows, I have a lot of those. What I want is for folks to be informed...to read...to interact...to listen to more than a 10 second sound bite. It does not matter if you agree with me or not as long as you have thought it through. What drives me wild is people who vote or 'opine' based on what their parents did or said, what Larry King said, or Oprah, or their preacher/teacher, or their next door neighbour, or their horiscope.

If we could teach our kids nothing else, it should be to think critically and independently and to question anything that sounds too good to be true. Go for it.

[wayne anderson]

Medie: At last, a level-headed comment on POTUS Place. I'm pretty much middle-of-road politically, and am really tired of the minorities on BOTH the Left and Right who seem to see it as their duty to "educate" those of us in the majority on how to think and act. We in the middle need to stop being the "silent majority" and speak up. The apparent hatred I see coming from both the left and right wings against the opposing side really concerns me about this nation's future. When is the last time anyone remembers voting FOR a candidate rather than AGAINST a candidate, for president or otherwise?

[Marvin S]

When is the last time anyone remembers voting FOR a candidate rather than AGAINST a candidate, for president or otherwise?

I voted for Goldwater, & I voted for Dino Rossi twice for governor, & they both lost -

BTW - Don't give Reagan too much credit for lowering taxes - a very good argument could be mounted that he increased them.

[Gerry Clinchy]

The employee share of Social Security and Medicare payroll taxes was 4.8% in 1970, 6.13& in 1980, and 7.65% beginning in 1990 and continuing through today (For the self employed, double these rates). In 1970, this tax was only paid on the first $7000 in income. In 1980, it was applied to the first $25,900, in 1990 to the first $51,300, and today it applies to the first $106,800. The Medicare component of the tax has consistently been applied to the first $125,000, although this is now increasing.

Looking only at the Reagan period, the rate pre-Reagan (1980) was $1316/year for someone with an income of $45,000. In 1988, that same person with the same income would have paid $2727/year, or an increase of 107%.

EDIT: I left out the Medicare tax, which is on top of Social Security and Disability and is currently 1.45%, which is reached under Reagan. At the beginning of Reagan's terms, it was 1.05%, for a 40% increase.

So, while Reagan may have decreased income taxes, he increased the SS & Medicare taxes. Since they're mandatory, I see no way not to call them taxes. Those two programs would have been in a state of collapse even sooner, it would appear, had he not done that.

[dnf777]

If we could teach our kids nothing else, it should be to think critically and independently and to question anything that sounds too good to be true. Go for it.

AMEN!!!!

That, and how to be good bird throwers, I would add.