30 September 2010

QOTD: Marginal Rates

Today's QOTD comes from AKFan paraphrasing CNBC. 
CNBC reporting that when the Bush tax cuts expire, the top marginal rate will be 39% on all income over 250k.  In 1913 when the federal reserve act was passed, the top marginal rate was 7% on any income over 500k.  Adjusted for inflation, that same 500k would be 11 million today.
Thank you Marxists!  You have done an exceptional job over the last 97 years to fully implement Marx's dream for a progressive income tax upon corporations and the people.  If it is not obvious to anyone who has half a brain, it is these burdens that will suffocate the people further in an effort to rebuild our nation.  So nice that Congress adjourned to leave us to this mess until after the election.  I thought Nancy Pelosi was supposed to be the new Sheriff in town and didn't want to play politics? 

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