Tax

Only 50% tax on the bonuses?

• 12.09.2009 British finance minister Alistair Darling set the stage for the coming election, announcing on Wednesday a one-off super tax on bank bonuses and other higher taxes on the rich. http://www.cnbc.com/id/34343015

Would it be unreasonable to tax 90% of the bonus?

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• UK Mulls Windfall Bonus Tax Britain is still considering some kind of windfall tax on bankers' bonuses but officials said no final decisions had been taken on what finance minister Alistair Darling would do this week.

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Historically, higher tax rate for top income bracket during war time and recession

• • Rich getting off easy in health care debate
    The George W. Bush tax cuts for the rich will total $477 billion, the bulk of it going to the richest 1 percent.
    
    It would seem apparent that if the rich are getting tax cuts, then they are paying less in taxes. Since the cost to run the nation was not reduced by the Bush tax cuts, the rest of us will have to pay more to offset what the rich don’t pay. http://www.nashuatelegraph.com/opinion/letters/459222-263/rich-getting-off-easy-in-health-care.html
    

Financial markets, US deficit, Tax rates, and personal saving -- the Fed Bernanke & Greenspan genocide of American middle class era starting in 1990s with long term plans including repealing of the Glass-Steagall act leading to the R.E. bubble/crash.

Tax Bracket

1992	1993 - 2000	2001	2002	2003 - 2009	2010 ?
15%	15%	15%	10%	10%	10%
			15%	15%	15%
28%	28%	27.5%	27%	25%	25%
31%	31%	30.5%	30%	28%	28%
	36%	35.5%	35%	33%	36%
	39.6%	39.1%	38.6%	35%	39.6%

Highest Tax rate
1917 - 1923 about 80%
1935 - 1963 about 90%
1965 - 1980 about 70%
1981 - 1985 about 50%

Lowering marginal highest tax rate is correlating to the widening wealth gap. Lowering the highest marginal tax rate happens to closely correlate to the widening wealth gap, so, we can conclude that financial market buzz words are mostly to false as the historical facts prove it even though the high rate of tax was likely due to wars.

As we now have 1% owning over 98% of wealth -- that will not change and it will likely continue regardless how the facts are distorted in a short time frame as longer term trend of related asset classes show better pictures.

How to fix America and the world ~ before the end of the world...

1. Take profit and pay tax based on emergency tax increase for high-income category -- e.g. 90% tax on goldman profit.

2. Reestablish strong regulations including reacting the Glass-Steagall in US as an example,

3. Recoup all high paid bonuses as they don't deserve it as the profit is gained by swindling the rest. It does not take much intellect to conspire and to wolf millions using massive collusion,

4. Back to the basics of developing basic needs and better education system,

5. Promote "freedom of choice" of faith - Christianity, Muslim, Catholic, etc., and promote massive broadcast the freedom using global media educating the common of different faith. No faith is also a part of global education, however, enact a global bill on No-attack on any faith.

When we eliminate greedy agenda, promoting world security and peace is quite easy.

*pdf food insecurity 2009
ftp://ftp.fao.org/docrep/fao/012/i0876e/i0876e.pdf

• http://www.cnbc.com/id/34014989
  
  

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US Economic Reality