The RetrieverTraining.Net Forums The Retriever Academy
Total Retriever Training with Mike Lardy
Hawkeye Media Gunners Up Tritronics Outdoor Media
Results 1 to 3 of 3

Thread: Another neat graphic representation of tax brackets from datapointed

  1. #1
    Senior Member Buzz's Avatar
    Join Date
    Apr 2005
    Location
    Brookings, South Dakota
    Posts
    6,801

    Default Another neat graphic representation of tax brackets from datapointed

    I have posted raw data on tax brackets before, but like I said on the other thread, a picture is worth a thousand words...

    http://www.datapointed.net/2010/04/h...-tax-brackets/

    Here is the commentary that went with the graphic.

    Did the onerous income taxes of the 1950s and ’60s affect the behavior of big-money boxers? The Atlantic’s Henry Fetter believes so, as he explains in his recent article:

    The 1950s was the era of the 90 percent top marginal tax rate, and by the end of that decade live gate receipts for top championship fights were supplemented by the proceeds from closed circuit telecasts to movie theaters. A second fight in one tax year would yield very little additional income, hardly worth the risk of losing the title. And so, the three fights between Floyd Patterson and Ingemar Johansson stretched over three years (1959-1961); the two between Patterson and Sonny Liston over two years (1962-1963), as was also true for the two bouts between Liston and Cassius Clay (Muhammad Ali) (1964-1965). Then, the Tax Reform Act of 1964 cut the top marginal tax rate to 70 percent effective in 1965. The result: two heavyweight title fights in 1965, and five in 1966. You can look it up.
    The theory makes perfect sense, and yes, you read that right: back in the ’50s, the marginal rate of the uppermost individual Federal income tax bracket was indeed an incredible 90-percent! In other words, after making a certain amount of money, nine out of ten of your hard-earned dollars went straight to the man. If I had a demotivational font, I’d use it here to type “Ouch!”

    In 1965, the top tax rate fell to 70%, and it stayed there until Reagan swaggered into the joint and knocked everyone on their asses. By the end of his second term, as he gave a parting high five to the incoming Bush, he’d gutted the upper bracket to a millionaire-friendly 28% on all earnings over $160,000 – in today’s dollars! Trickle down, baby!

    Three decades later, the Gipper is long gone, but the tax code legacy of Reaganomics lives on. To illustrate, our infographic team charted the historical U.S. income tax brackets for singles, adjusted for inflation, from 1910 to present:



    The colors indicate the marginal tax rate: black for low, red in the middle, and yellow for high. The horizontal axis is the tax year, and the vertical represents taxable income, log-scale, normalized to 2010 dollars with the Bureau Of Labor Statistics’ monthly CPI-U figures. The bracket data comes from The Tax Foundation and the IRS, and the effects of Social Security, capital gains, AMT, and other tax varieties are not included.

    Do you know a wealthy someone who’s afflicted by a habitual carping about their income taxes? Get him or her near a computer, pull up this graph, point them towards the brilliant yellow-orange brackets that run from the Great Depression ’til the Reagan-Bush tag team, and they shall be healed!
    Last edited by Buzz; 03-24-2011 at 10:36 AM.
    "For everyone to whom much is given, of him shall much be required." -- Luke 12:48

    Raven - Moneybird's Black Magic Marker***
    (Esprit's Power Play x Trumarc's Lean Cuisine)
    Mick - Moneybird's Jumpin' Jack Flash***
    (Clubmead's Road Warrior x Oakdale Whitewater Devil Dog)
    Peerless - Moneybird's Sole Survivor
    (Two River's Lucky Willie x Moneybird's Black Magic Marker)

  2. #2
    Senior Member achiro's Avatar
    Join Date
    Jun 2003
    Location
    Enid, OK
    Posts
    2,071

    Default

    I'm not sure I understand the point you are trying to make?
    "The thing I admire about the rat tail is that it takes commitment. It's not like one day you just decide you want one, you have to grow out that bad boy and you have to repeatedly convince the hairdresser to trust you because it's a great idea."

  3. #3
    Senior Member
    Join Date
    Nov 2006
    Location
    Pac NW
    Posts
    4,270

    Default

    Quote Originally Posted by achiro View Post
    I'm not sure I understand the point you are trying to make?
    Buzz in his own socialist way is trying to say that preparing yourself to make a lot of money, doing without during the startup phase, & then giving 1 of 3 dollars to the government to waste is just not enough. If you make it you should be willing to share with ALL who chose not to make the initial sacrifice . He's also saying he has not done the full journey so knows not what it's about !!!!!!!
    __________________________

    Marvin S

    Everyone's friend is No One's friend

    Someday your life will flash before your eyes. It's your responsibility to make sure it's worth watching!

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •