Random Thought Of The Day

[MustangMike]

My memory must be flawed ... it was a long time ago ... in 1960 the BOTTOM Federal tax rate was 20% and the top Federal Tax Rate was 91%.

This is what happens when the Federal Government runs amuck, let's hope we never return to these rates. Credit to J.F. Kennedy, Ragan and Trump for lowering our Federal tax rates. Local taxes can be just as insane. A small bedroom house on 1/4 acre in Scarsdale NY will have property taxes of over $30,000 / year!

We should all remain vigilant, less we return!

Federal Income Tax Brackets for Tax Year 1960 (Filed April 1961)

www.tax-brackets.org

 

[Wilhelm]

If If’s and butts were candy and nuts, oh what a party we’d have…

But butts are candy, unless You are vegan in which care You'd just be nuts.

 

[Mack 880]

Why is planting a flag such a thing in college football?

Really - I win, you lose: LOLOLOLOL in your face!! seems like it should be enough?

So should it be banned?

 

[Lnk]

Why is planting a flag such a thing in college football?

Really - I win, you lose: LOLOLOLOL in your face!! seems like it should be enough?

So should it be banned?

What is college football?

 

[Mastermind]

I hate snow.

 

[Mack 880]

.....

Federal Income Tax Brackets for Tax Year 1960 (Filed April 1961)

www.tax-brackets.org

How a 91% rate sparked the golden age of tax avoidance in 1950s Hollywood

After Rep.

www.latimes.com

Few, if any paid that rate. It was on paper, but loopholes abound. In the 1970's, my parents bought land for "tax shelter" purposes until the IRS closed the loopholes. Then the price of land fell off the cliff and they couldn't get rid of it. And the list goes on...

Were High-Income Americans Really Paying 91% Income Tax In The 1950s?

There's a common belief that wealthy Americans were heavily taxed in the 1950s, with a top income tax rate of 91%. But was this the case? Let’s breakdown what was happening with taxes back then. The top federal income tax rate was 91% for much of the 1950s. However, this figure is a bit...

finance.yahoo.com

 

[greystone mountain man]

I hate snow.

I second that

 

[Bill G]

Why is planting a flag such a thing in college football?

Really - I win, you lose: LOLOLOLOL in your face!! seems like it should be enough?

So should it be banned?

What is wrong with planting your pole while in college?

 

[Mastermind]

I still hate snow.

 

[Only the Tony]

I have a low tolerance for idiots today.

 

[greystone mountain man]

I still hate snow.

This would be a good day to sit around the wood stove at the old country store and B.S. if we had any left

 

[Mastermind]

This would be a good day to sit around the wood stove at the old country store and B.S. if we had any left

We still have a general store. Sadly the old store building got burned down several years ago, but the new building owners are good folks who both understand, and are a big part of the community.

 

[MustangMike]

Few, if any paid that rate.

You are missing the point. Folks should not have to go through extraordinary means to avoid the tax bill due to insanely high rates. And yes, high government tax rates often seem to be designed as a way of keeping lawyers in business ... no argument there.

I currently see the same crap all the time with all of these trusts to avoid paying Nursing Home costs. Often, they are never needed, and they are a royal pain in the butt to deal with.

The other parallel I will draw is the high tax rates were, in part, the government's response to the high Federal Deficit after WWII. Well guess what, we are back there again (w/o any major war). Sooner or later, the bills have to be paid. You cannot just add to the deficit forever.

 

[MustangMike]

Few, if any paid that rate.

You are also ignoring that the lowest rate was 20%, and few fulltime employed folks stayed in that rate.

 

[Mack 880]

This is why you look at who is the "birthday boy" BEFORE you go to a party!!

1 killed, 2 injured in shooting at South Carolina Motorplex

The Orangeburg County Sheriff’s Office (OCSO) confirmed one person died and two were injured following a shooting over the weekend.

www.wistv.com

 

[Wilhelm]

I hate snow.

I hate the summer & heat, I run hot fast.
I like snow, except when I have to showel clear my driveway.
I love driving in snow/snow fall, with dedicated snow tyres though.

I hate ICE!!!

I have a low tolerance for idiots today.

I ALWAYS have NO tolerance for idiots!!!

 

[Mack 880]

You are missing the point. Folks should not have to go through extraordinary means to avoid the tax bill due to insanely high rates. And yes, high government tax rates often seem to be designed as a way of keeping lawyers in business ... no argument there.

I currently see the same crap all the time with all of these trusts to avoid paying Nursing Home costs. Often, they are never needed, and they are a royal pain in the butt to deal with.

The other parallel I will draw is the high tax rates were, in part, the government's response to the high Federal Deficit after WWII. Well guess what, we are back there again (w/o any major war). Sooner or later, the bills have to be paid. You cannot just add to the deficit forever.

Unfortunately, there is no parallel to back then. We were on the Gold Standard, and Fort Knox had the gold that backed the US currency. There was no "In God We Trust" on our currency back then.

The US Dollar now is backed only by "full faith and trust in the US Government" and as such is a fiat currency. That's why they can print as much as is needed whenever.

 

[Joe Kidd]

I second that

Thirdly

 

[Ketchup]

I hate snow.

I hate rain more.

 

[Bill G]

I still hate snow.

I agree.