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View Diary: #OccupyWallStreet and Fellow Kossack David Graeber (16 comments)

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  •  I don't understand David's response to... (0+ / 0-)

    the Ryan clip. Ryan seemed to be focusing on taxing businesses with his comments, comparing the projected 2013 44.8% tax rate on businesses relative to much lower rates in other countries. Was David also talking about business taxation in his response wherein he reflects on taxing the wealthiest at 90% under Eisenhower? Or was this a switch to focus on individuals? I'm learning here. :)

    Is there any substance to the argument comparing tax rates in the U.S. versus the world?

    The man who moves a mountain begins by moving away small stones. -Confucius

    by Malachite on Sun Sep 25, 2011 at 01:05:35 AM PDT

    •  actually (2+ / 0-)
      Recommended by:
      Malachite, PlutocracyFiles

      under Eisenhower, businesses were also taxed at 3-4 times the rate they are now - that is, those that actually are taxed now, since a lot of the biggest pay no taxes or even negative taxes. Ironically, Eisenhower justified all this by the need to repay the national debt after World War II.

      If I'm not mistaken, in the '50s, half of all government tax receipts came from corporations. Now it's ... does anyone know? Ten years ago it was perhaps 20%. I'm sure now it's even lower.

      As for comparisons with other countries - it's perfectly obvious Ryan is cooking the books. I don't know the specifics since I'm not a tax policy wonk, I was actually brought in to talk about something else - the Debt book and the Wall Street actions - and she just threw that out, so I didn't have the opportunity to prepare figures to throw out. But the premise that the US taxes corporations more than other major industrialized democracies is patently absurd.

      •  Thanks. This is an excellent answer. (1+ / 0-)
        Recommended by:
        david graeber

        It gives me motivation to learn more. On the topic of debt, I will have to read the book. Kudos to you.

        The man who moves a mountain begins by moving away small stones. -Confucius

        by Malachite on Sun Sep 25, 2011 at 01:11:35 PM PDT

        [ Parent ]

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