I think the problem is when people, perhaps with a hidden agenda, oversimplify stuff, like saying the Dem want to take 70% of your paycheck and give it to illegal immigrants. Yes, we did have a 70% marginal tax rate pre-Reagan, but there were also a ton of tax shelters the wealthy could use to hide their income. Some of those encouraged investing or donating to needy causes while many others were out and out scams. Also, this doesn't say anything about capital gains and estate taxes, both of which have been greatly reduced to favor the wealthy. So it is complicated and requires a serious analysis, but it's clear that the pendulum has swung way over to the right and resulted in outrageous income/wealth inequity.

@jerry99 As a CPA, I benefited from the changes and saw it help my wealthiest clients...it is very complicated and frankly, I think some of the attacks against people who really did donate and put their money back into their companies for employees, higher wages, etc. really caused concern...some of it is reactionary because of the hard work and risks we took and it appeared many were chanting "hate the rich"...

As another old white guy, you're full of shit. We've always had bums looking for a handout. I don't know if the percentage of today's young adults who want to be taken care of is more or less than it was years ago, but I do know that it's a lot harder for young people today to find good jobs that pay enough to live on. The minimum wage is a joke and most entry level jobs have been shipped overseas to countries without any minimum wage, workplace health & safety, unions, or child labor laws.

So not true...I see young people working just as hard and still not making it...sure, some make bad choices but some have no choices...they want to go to college and have no means to pay other than to get loans even to go to community college...they are making less in comparison and yet paying crazy rents for housing..no healthcare....to say that they are not pulling their weight as we did is not seeing what is really happening...it is my belief that old people like us have to let go of the comparisons or else nothing will change for the next generations...

@Gooniesnvrdie ha ha ha... You realize I am over the hill, right? Whatever happens with current youngsters in the future, I'll be dead times over by then.... don't think for a second your comment on the flip phone means anything to me. And last but not least, I'll keep pulling my own weight until my last day.

@jerry99 Not even gonna....... You see things your way and I see things my way. No need to call no one full of shit. We are exchanging opinion and you basically disagree. That's fine.

@thinktwice I meant the youngsters that don't want to work. Of course there are the ones trying like anybody else.

@IamNobody Of course I said you were full of shit with love. I objected to you painting people, young and old, with the broad brush that we worked hard and they're all lazy. Yes, I worked hard, but so is my daughter and most young people as far as I can tell. The media makes it look like all they do is play with their phones and expect to become social media billionaires and end up living with their parents. That's just not the reality for must young people who are struggling to get by with low wages, student loan debts and family obligations.

@Gooniesnvrdie now now...not all of us are crybabies...we had to wipe your butts for a while so don't go kicking all of ours....

@jerry99 That's one of our many jobs as a parent, to make sure our kids understand life is tough and will keep getting tougher. I cannot speak for all but sure enough there is a big chunk of kids with big sense of entitlement.

@Gooniesnvrdie I know you are...I like your fresh and frank approach now that I have read your many posts...it is good to have people kicking our butts sometimes...I will admit to be an old fuddy duddy sometimes and have to be reminded to get get of my flip phone (as soon as I get rid of my rotary dial one)...ha ha ha

@Gooniesnvrdie I will...I am not adverse to laughing at how silly some of the things I still hang onto really are...my pink boom box and my original Walkman...hell, I could lose weight carrying them while I walk...lol

Capital gains are taxed at a much lower rate, but if they’re changing the top marginal rates do much, why not change the other loopholes that are are creating such extreme income inequality?

@Haemish1 because the fat old white men would not like that.

@Haemish1 Agree...even the best people are going to take advantage of legal loopholes...I benefited greatly from the lowering of capital gains tax as did many others in my tax bracket...they have to fix the loopholes...

@thinktwice "... even the best people are not going to take advantage..." Should that "not" be in there?

@bingst lol I must have edited the wrong comment...yes, even the best ARE going to use the legal loopholes...as an accountant, I find them all for anyone legally....thanks...