MBT is an acronym for Millionaires, Billionaires, Trillionaires.
The MBT Tax
is an increase to the top Federal Income Tax rate and the top Capital Gains Tax rate.
Starting October 1, 2013, these top tax rates will increase 1% per month, until signed into law.
The MBT Tax is one American's solution for fixing the political gridlock that results when MBTs have the power to demand legislation for their benefit. This occurs because MBTs rake in unlimited amounts of money and are never satisfied, so they spend a portion of their treasure to influence (buy) legislators. To insure that millions/billions of dollars of MBT political contributions pay off, Republican politicians must sign a "No (Top) Tax Increase" pledge, in order to receive MBT and RNC campaign funds.
Who will it
Millionaires, Billionaires, and Trillionaires will be the ones who will pay higher taxes.
Why pick on
Americans, the 99% who make less than $1 million a year, do not realize how excessive MBT greed has gotten. Think about how much you make an hour, then realize that $1 million a year is like getting $500 an hour. Every MBT is making much more than that, but they are never satisfied. When an MBT rakes in $1 billion in a year, that is like raking in $500,000 (half a million) an hour. $1 billion is like a stack of $100 bills taller than the tallest building in the world. Even with that amount of money, MBTs want even more. Many have stacks of $100 bills higher than Mt. Everest, and they still want more. Their greed is insatiable, and it can only be controlled by a higher top tax rate (70% or higher).
Why is the
MBT Tax necessary?
In 1963, the top tax rate was 91%, but LBJ reduced it to 77%, then to 70% in 1965.
In 1982, under Reagan, the top tax rate was decreased three times, first to 50%, then to 38.5%, and to 28% in 1988.
In 1990, Bush1 broke his campaign pledge and raised the top tax rate to 31% to help control the Gross Debt.
Clinton raised the top tax rate to 39.6%, but Bush2 reduced it to 35%, on a year by year basis.
In 2013, Obama let the Bush Tax Cuts expire on the top tax rate, returning it to 39.6%. This top tax rate is far too low.
How does the top tax rate affect the Gross National Debt?
In 1925, the top tax rate was 25% and we got the Great Depression and the start of a Gross National Debt. In 1932, FDR raised the top tax rate to 63%, to 79%, to 81%, to 88%, and to 91% at the end of WWII. This high top tax rate helped the US manage through the Great Depression and through WWII, keeping the Gross Debt under $1 Trillion for 34 years while the nation prospered. Reagan's tax rate cuts resulted in the Gross Debt increasing to almost $3 Trillion during his two terms. During Bush2, the Gross National Debt increased 1/2 trillion dollars per year, until the Great Recession when it increased 1-2 trillion dollars per year. If the top tax rate was still 91%, the Gross Debt would shrink and our nation would prosper.
What do we
need to remember?
Remember that Bush2 initiated the Great Recession, causing Obama to increase spending to keep the economy moving. It was a low top tax rate which motivated the Great Depression AND the Great Recession, but FDR was able to increase the top tax rate while Obama was not. FDR had Congressional support whereas Obama has near total Republican opposition, as demonstrated by a Republican House majority that refused to fund our government on October 1, 2013, as well as 47 Republican Senators who refuse to increase the top tax rate.
Congressional Republicans complain about the huge size of our Gross National Debt, but adamantly refuse and block any attempt to increase the top tax rate, which would lower our Gross National Debt. This occurs because Republican politicians are beholden to their MBT patrons, and they even sign a pledge of allegiance to them. The MBT Tax is the ONLY way that the top tax rate will be increased to 70-91% again, when our nation prospered without any MBT created boom/bust disasters.
If the MBT
Tax is signed into law, how will the extra MBT revenue be used?
To appease the vast majority, most would go to reducing our Gross National Debt. Because of the urgency of global warming, a large portion would go towards reducing our carbon energy footprint. Whether by direct or indirect actions, MBTs caused these problems, and it is fortunate that they can help solve these critical issues.
How will we
get the MBT Tax signed into law?
All it will take is for a congressman to introduce MBT Tax legislation.
All that it will take to get it passed and signed into law is to ask every candidate, "Do You Support the MBT Tax?"
All it will take is for millions to take to the streets, demanding the MBT Tax be passed.
If MBTs are smart, they will get the MBT Tax signed quickly, and their top tax rates will only increase a few percent. MBT greed will cause it to increase 1% a month or 12% a year. If not signed by the November 2014 election, the top tax rate would need to increase by more than 13% (a top tax rate of 53%), which would become a major issue for every candidate.
On Oct. 1, 2013, greedy MBTs shutdown the government and slapped every American* in the face forcing a fight. The question is, who will win?
10/27/15 Can taxing the rich reduce inequality? You bet it can! (An economic study by the Brookings Institute) http://www.brookings.edu/~/media/research/files/papers/2015/10/27-taxing-the-rich-you-bet-aaron/taxing-the-rich-you-bet-aaron.pdf
10/14/13 Created two online petitions to widely publicize and enlist support for the MBT Tax. http://petitions.moveon.org/sign/support-the-mbt-tax and http://chn.ge/17pDba8
10/10/13 Success... googling "mbt tax" or "mbttax" has our link on the middle of the first page. Gradually, more politicians and organizations are being emailed the link. Will start working on posters and handouts to inform more people about the MBT Tax.
10/5/13 Noticed that googling "mbt tax" or "mbttax" wasn't showing this site. Added more links via Facebook and Wordpress, to see if it will improve search results. Will continue trying to fix that issue.
10/2/13 Several government officials were the first to be emailed the link to this website. The irony is that the shutdown means that they might not read their emails for weeks.
10/1/13 The homepage for mbttax.org was created and started online. This occurred because Republicans have become the party of "No" and have refused to do their job, which is to pass a budget that funds our government. This was actually a decision made by MBTs, who care more about themselves than about the welfare of 300 million U.S. citizens or our nation.
Share this page with your friends
"Since our journey will travel into new territory, a guide will help prevent humans from getting lost. “What animal do you like the most?”…. this will be your animal guide, like an animal that helps a blind person." ... Mw2016
"Humans have thoughts and believe their thoughts. Humans would rather hold onto their beliefs than to know truth/reality." ... Mw2016