The Motley Fool Discussion Boards

Previous Page

Retirement Discussions / Retired Fools

URL:  https://boards.fool.com/what-about-this-statement-do-you-consider-a-26637210.aspx

Subject:  Re: Could your retirement survive this? Date:  5/10/2008  10:42 AM
Author:  jwiest Number:  13049 of 22171

What about this statement do you consider a "lie" and why do you think I am trying to "perpetuate" it?

That anybody but the most isolated wingnut thinks the taxrate should be 100%. There might be 3 people in America who believe this, and none of them are running for president or involved in the campaigns.

If you still don't believe me and you don't have the time or inclination to actually do independent research on radical leftist taxation theory, then simply get the White Album (I think that's the album this song was on) and play the Beatles' song, "Taxman," and actually listen to the lyrics. At one point there is a lyric that says something like, "There's one for you, nineteen for me--I'm the TAXMAN! Yeah, the TAXMAN!" That particular lyric is a specific reference to the confiscatory marginal taxation rate in Great Britain, at the time the song was written sometime in the mid 1960's, of 95%. (Admittedly this is not quite 100%.) A 1-19 ratio between John, Paul, George and Ringo and the "Taxman" equals the 5%-95% ratio.

It was Revolver, and 95% wasn't the base tax rate, it was the tax rate for the very tip top income bracket. Your statements are so inaccurate, one wonders if they're intentional.

I'll stick with the Beatles, thanks.

Great research there, you might have more success with Abba.
Copyright 1996-2020 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us