Flashback: 1941’s Top Earners Taxed as Much as 73%

Sounds good to me…

“To those to whom much is given, much is expected.”

Especially when today’s top earners at Hedge funds, etc aren’t even creating anything….

Drawing on IRS data recently made public in the National Archives, the New York Times created an amazing infographic  showing that in “the good old days” of 1941, upper-income Americans paid far more in taxes than they do today, with some top earners paying as much as 73% of their adjusted gross income in taxes:

Keep in mind that in 2008, people who earned more than $1,000,000 paid 24.1% of their adjusted gross income in taxes. Compare that to some of the numbers in the Times’ infographic:

The head of Bethlehem Steel had an adjusted gross income of $336,953 and paid $222,051 in taxes — 66%.

The head of MGM Studios had an AGI of $202,408 and paid $130,174 in taxes — 64%.

The head of IBM had an AGI of $476,029 and paid $329,666 in taxes — 69%

Gun makers Carl and Hulda Swebilius had an AGI of $893,593 and paid $650,389 in taxes — 73%

Remember, these rates weren’t a result of a war surtax — although World War II began in 1939, the United States didn’t declare war until December 8, 1941, the day after the Pearl Harbor attack. Yet even though we’ve been fighting two wars for the last decade, and even though today’s tax rates on top earners are a fraction of what they were in 1941, the GOP’s top legislative priority is to keep those top tier tax rates low. And for the most part, even though the polls on their side, Democrats aren’t fighting back.

More:   Daily Kos: State of the Nation.

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My Favorite Things…

If you are looking for some special Holiday gift ideas for that special man in your life, I thought I would share a few suggestions….

If you are a Professional Shopper, you’ll be able to find “deals” on most of this stuff- if you truly know what you are doing.

My Mantra is:  “There is no greater sin than paying full retail.”

And I’ve always said:  “It’s better to have a few nice things than a bunch of crap…”

  1. Ugg Men’s Bedroom Shoes- these are pricey, but they last forever.  In the long run, it’s cheaper to buy one good thing than to keep buying several cheap ones.  I’m on year three with mine and they still look almost new.  I wear mine inside and outside to do things like take out the trash..They are also incredibly warm.
  2. iPod Shuffle- I couldn’t go to the gym without this…I won’t share my gym music mix.  Even I must have some secrets….
  3. Amazon Kindle- I resisted this because I thought I liked the “feel” of a real book.  Get the leather cover and it’s the same experience.  I truly love this thing.  And you can adjust the font so you can read without reading glasses!
  4. Brooks Brothers shirts and sweaters- the best on the market and they last forever.  If you are looking for quality, go to Brooks Brothers.  Sign up on line and you’ll know about some great sales and get some deals.
  5. Tumi Bags, Wallets and Luggage-  Again, pricey, but lasts forever.  These are also incredibly well designed.  I was going through a cheap set of Samsonite luggage a year until I started buying this stuff…I’ve been around the world with my Tumi.  Try eBay for some deals.  I got a $500 computer bag for $100 on eBay.  Avoid Hartmann!  They have serious quality issues and won’t do repairs for free like Tumi does.  And if Tumi can’t repair something, they replace it for free with a comparable item.
  6. Bose Noise Reduction Headphones- again, pricey, but if you travel a lot, these are a necessity.  I bought mine after having to listen to two drunken businessmen carry on for a 5 hour flight…
  7. Joseph A Banks Merino Wool Sweaters- they have great sales and if you catch the right one, you can get these for $30 or less.  I have about a dozen V-Necks and Steve loves the Mock Turtlenecks.
  8. J Crew Cord Pants- nicer than jeans, but fit like jeans.  I live in these when I’m not in the office in the Fall and Winter and even wear them to work on Fridays.
  9. Clinque Skin Supplies for Men- I’ve been using this stuff since I was 17.  Great shaving products…
  10. Chanel Egoiste Platinum for Men- My signature after shave/cologne. Not well-known, but pure class.  One of the most highly rated scents of all time.  You usually have to ask for it at Macy’s or Dillards.  Brooks Brothers “New York” and Bulgari are also nice.

Just my initial thoughts. I’ll try to add to this later as I think of other items….

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Holiday Song of the Day: Mitzi Gaynor- We Need a Little Christmas

A little Mitzi to get us in the mood for Holiday preparations!

From her 1967 Christmas Special.

 

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Liberals: Obama Doesn’t Compromise, He Caves : NPR

Great article that articulates one of my big concerns….

President Obama’s team is deep in negotiations with Congress over how to find common ground on the fate of the Bush-era tax cuts. And liberals are afraid that the White House may be too quick to cede ground to Republicans without securing concessions in return.

That concern is not unique to the tax-cut debate. People on the left have been concerned about Obama’s negotiating style for some time now.

In contrast, Senate Republicans sent Majority Leader Harry Reid a letter Wednesday with what amounts to an ultimatum: “We will not agree to invoke cloture on the motion to proceed to any legislative item until the Senate has agreed to fund the government and we have prevented the tax increase that is currently awaiting all American taxpayers.”

In other words, vote on tax cuts and spending bills now, or forget about everything else you want to get done during the lame-duck session. It’s the kind of strong, unified negotiating posture Republicans have become known for in the past two years.

But to the dismay of liberal activists such as Justin Ruben, executive director of the group MoveOn, Obama has developed a different reputation.

“Looking right now at the tax cuts — the White House [is] signaling willingness to pre-emptively cave on what is effectively a tax bailout to millionaires,” Ruben says. “I think it’s profoundly upsetting to people.”

AND

 

Even some Republicans share this view of the president as a poor negotiator.

“It’s sort of like telegraphing your passes in basketball. It’s easy to steal a pass,” says Jim Walsh, a former congressman from upstate New York, now with the lobbying firm K&L Gates.

He says this kind of politicking just is not in Obama’s blood.

“He’s never been in the leadership position in either body,” Walsh says, “so he didn’t have to do the negotiating, the horse-trading, that a Mitch McConnell would have grown up on, or a Harry Reid would have grown up on, or a John Boehner would have grown up on. The president has not had to do this.”

In fact, this president has always expressed disdain for the negotiating games that make up the daily routine in Washington.

But it is a game that he is in, whether he wants to play it or not.

 

 

More: Liberals: Obama Doesn’t Compromise, He Caves : NPR.

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And Happy Birthday, Mary Martin

One of the great theatrical legends of the 20th Century…

Born December 1, 1913 in Texas….

The original Peter Pan and the original Nellie Forbush in “South Pacific”…

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Happy Birthday, Bette Midler

Bette is 65 today…

My God, I feel old…

But she obviously doesn’t!

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AMERICA–HE’S YOUR PRESIDENT FOR GOODNESS SAKE! BY WILLIAM THOMAS « The Way of Love Blog

Great blog post my friend Kirk pointed me to….

America – He’s your President for Goodness Sake!

By William Thomas, October 1st, 2010, http://tinyurl.com/2u7jokf

There was a time not so long ago when Americans, regardless of their political stripes, rallied round their president. Once elected, the man who won the White House was no longer viewed as a Republican or Democrat, but the President of the United States. The oath of office was taken, the wagons were circled around the country’s borders and it was America versus the rest of the world with the president of all the people at the helm.

Suddenly President Barack Obama, with the potential to become an exceptional president has become the glaring exception to that unwritten, patriotic rule.

Four days before President Obama’s inauguration, before he officially took charge of the American government, Rush Limbaugh boasted publicly that he hoped the president would fail. Of course, when the president fails the country flounders. Wishing harm upon your country in order to further your own narrow political views is selfish, sinister and a tad treasonous as well.

Subsequently, during his State of the Union address, which is pretty much a pep rally for America, an unknown congressional representative from South Carolina, later identified as Joe Wilson, stopped the show when he called the President of the United States a liar. The president showed great restraint in ignoring this unprecedented insult and carried on with his speech. Speaker Nancy Pelosi was so stunned by the slur, she forgot to jump to her feet while clapping wildly, 30 or 40 times after that.

Last spring, President Obama took his wife Michelle to see a play in New York City and republicans attacked him over the cost of security for the excursion. The president can’t take his wife out to dinner and a show without being scrutinized by the political opposition? As history has proven, a president in a theatre without adequate security is a tragically bad idea.

Remember: “Apart from that, Mrs. Lincoln, how did you enjoy the play?”

via AMERICA–HE’S YOUR PRESIDENT FOR GOODNESS SAKE! BY WILLIAM THOMAS « The Way of Love Blog.

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Chapter 42: AIDS in a Small Southern Town | My Southern Gothic Life

There is a new post up on my other blog:

December 1st is World AIDS day and I feel like I need to comment on this…

The AIDS epidemic was one of the defining events of my life.  It all began when I was in my early 20′s and no one, who was not there, can imagine the fear and confusion, the hate and the love, that resulted from this health crisis.

People forget, that in the early days, no one knew what was causing it or why Gay Men were suddenly getting sick and dying.

All of us were wondering who was next.  Would it be one of our friends?  Could we get it ourselves?  How were you exposed to it?  What was our personal risk level?  Were our young lives going to be cut short before we even figured out who we were?

AIDS blew open a lot of closet doors.  Not the best way to “out” people.  No one could have wanted that result, but it did make a lot of people face the fact, for the first time in their lives, that they actually knew Gay people.

MORE:   Chapter 42: AIDS in a Small Southern Town | My Southern Gothic Life.

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Forever Cher | Vanity Fair

Great Cher interview-including her views on politics and Sonny….

With a No. 1 record in each of the last five decades, Cher is the longest-reigning diva in show business, her talent also attested to by a best-actress Oscar, three Golden Globes, an Emmy, and a Grammy. As she stars in Burlesque, opposite Christina Aguilera, the 64-year-old icon gives a rare interview to the author, opening up about her struggle with Sonny, their child’s sex change, and the reasons she’s envious of Meryl Streep.

via Forever Cher | Vanity Fair.

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Tea party leader: Restricting vote to property owners ‘makes a lot of sense’ | Raw Story

It must be a full moon.  All the crazies are out….

Tea Party Nation President Judson Phillips said denying the right to vote to those who do not own property “makes a lot of sense” during a weekly radio program.

“The Founding Fathers originally said, they put certain restrictions on who gets the right to vote,” Phillips said. “It wasn’t you were just a citizen and you got to vote.”

“Some of the restrictions, you know, you obviously would not think about today,” he continued. “But one of those was you had to be a property owner. And that makes a lot of sense, because if you’re a property owner you actually have a vested stake in the community.”

“If you’re not a property owner, you know, I’m sorry but property owners have a little bit more of a vested interest in the community than non-property owners.”

Approximately 33% of Americans are renters, according to the National Multi-Housing Council.

via Tea party leader: Restricting vote to property owners ‘makes a lot of sense’ | Raw Story.

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