Posted by: Boston Bravery | September 17, 2010

How To Create Jobs? Restore the Truman-Eisenhower Tax

Below is the tax rate table based on the 1954 code passed by Congress.  It also as the adjust income levels for 2008.   Just think how many additional people would be employed at Clear Chanel today if Rush Limbaugh wasn’t paid $38 million a year.  Or how many more reports CBS, NBC, ABC, Fox, etc. did pay their talking heads in the $2o million dollar range?  I would also remove the tax credit companies get for CEO salaries.

Income level Tax rate 2008 PPC Adjusted Income
up to $2,000.00 20% up to $37,500.00
$2,000.01 – $4,000.00 22% $37,500 – 75,000
$4,000.01 – $6,000.00 26% $75,000 – 112,500
$6,000.01 – $8,000.00 30% $112,500 – 150,000
$8,000.01 – $10,000.00 34% $150,000 – 187,500
$10,000.01 – $12,000.00 38% $187,500 – 225,000
$12,000.01 – $14,000.00 43% $225,000 – 262,500
$14,000.01 – $16,000.00 47% $262,500 – 300,000
$16,000.01 – $18,000.00 50% $300,000 – 337,500
$18,000.01 – $20,000.00 53% $337,500 – 375,000
$20,000.01 – $22,000.00 56% $375,000 – 412,500
$22,000.01 – $26,000.00 59% $412,500 – 487,500
$26,000.01 – $32,000.00 62% $487,500 – 600,000
$32,000.01 – $38,000.00 65% $600,000 – 712,500
$38,000.01 – $44,000.00 69% $712,500 – 825,000
$44,000.01 – $50,000.00 72% $825,000 – 937,500
$50,000.01 – $60,000.00 75% $937,500 – 1,125,000
$60,000.01 – $70,000.00 78% $1,125,000 – 1,312,500
$70,000.01 – $80,000.00 81% $1,312,500 – 1,500,000
$80,000.01 – $90,000.00 84% $1,500,000 – $1,687,500
$90,000.01 – $100,000.00 87% $1,687,500 – $1,875,000
$100,000.01 – $150,000.00 89% $1,875,000 – $2,812,500
$150,000.01 – $ 200,000.00 90% $2,812,500 – $3,750,000
$200,000.01 or more 91% $3,750,000 or more

Source: Internal Revenue Code of 1954, Pub.L. 83-591, 68A Stat. 5, enacted August 16, 1954 (modified from text of the statute). Relative GDP: 37.5, Source: Bureau of Economic Analysis historical GDP tables.

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Responses

  1. yeah my dad will like this

    Like


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