https://www.nytimes.com/interactive/2019/10/06/opinion/income-tax-rate-wealthy.htmlFor the first time on record, the 400 wealthiest Americans last year paid a lower total tax rate — spanning federal, state and local taxes — than any other income group, according to newly released data.
https://www.nytimes.com/interactive/2019/10/06/opinion/income-tax-rate-wealthy.htmlFor the first time on record, the 400 wealthiest Americans last year paid a lower total tax rate — spanning federal, state and local taxes — than any other income group, according to newly released data. Who knew? Investment income is taxed at a lower rate than payroll income. Do you have anymore bombshells? Btw, still waiting for that "promise" you claimed was in the Complaint.
It's clear most of you didn't read the article.
Other than the fact you had to lie to make you make your point you absolutely nailed it. Adding local and state taxes like property tax, sales tax and state income tax to medicare and social security taxes it's easy to get to over 23%. I've seen data showing anywhere between 21 and 25% total tax rate on the poorest Americans. For the first time on record the richest 400 Americans are paying a lower total tax rate than any other income group. Warren Buffet, Bill Gates and Jeff Bezos really need it as well...The idea that any significant percentage of corporations out there was actually paying 35% is stupid. More corporations paid 0% than paid 35%.
Outside of the fact that the opinion piece was not factual – it’s spot on. Look, half the US public doesn’t pay federal income tax. They do pay 7.65% on their wages for social security and medicare. So, the bottom half of the US public doesn’t pay more than the 23% rate that the article alleges that the wealthy pay. And then, if you made $50,000 in wages and then paid $3,825 in payroll taxes that is a little different than having a $10 million capital gain and paying $2 million in capital gains tax. Someone seems to be paying their fair share. As has been pointed out, dropping the corporate tax rate to 21% puts the US in line with the other countries that US corporations compete with. The article doesn’t talk about making the US competitive with other countries. It also ignores the fact that corporate taxes are a cost of doing business and thus are largely passed on to US consumers. In the good old days of 70% tax rates, the tax code was crammed full of loopholes and tax shelters which have largely been eliminated. Feel free to impose a 70% tax rate on US businesses if you want to go full boat Venezuela. The Laffer curve is a real thing. You can debate on which side of the curve a top US individual rate of 37% is. You can’t debate where a 70% tax rate is.
Da fuq difference does it make what anyone pays in taxes?!?The debt ceiling is apparently unlimited and annual deficits have no meaning.Until the endless wars and re-fucking-diculous spending ends, this who pays more argument is exactly what the two parties want as the shiny object to stay in power. Wake up, sheeple.
Da fuq difference does it make what anyone pays in taxes?!?The debt ceiling is apparently unlimited and annual deficits have no meaning.Until the endless wars and re-fucking-diculous spending ends, this who pays more argument is exactly what the two parties want as the shiny object to stay in power. Wake up, sheeple. I agree with most of this. Although to reduce the deficit it has to be both revenues and expenditures. Like you said, but in a different way. No politician is actually going to cut spending. Even tho Americans hate the wasteful spending, they all want their money still. Yes even the wealthy want the money spent their way too.
Da fuq difference does it make what anyone pays in taxes?!?The debt ceiling is apparently unlimited and annual deficits have no meaning.Until the endless wars and re-fucking-diculous spending ends, this who pays more argument is exactly what the two parties want as the shiny object to stay in power. Wake up, sheeple. I agree with most of this. Although to reduce the deficit it has to be both revenues and expenditures. Like you said, but in a different way. No politician is actually going to cut spending. Even tho Americans hate the wasteful spending, they all want their money still. Yes even the wealthy want the money spent their way too. Since revenue is up it seems like all that’s left to do is cut spending. Why won’t they?
Da fuq difference does it make what anyone pays in taxes?!?The debt ceiling is apparently unlimited and annual deficits have no meaning.Until the endless wars and re-fucking-diculous spending ends, this who pays more argument is exactly what the two parties want as the shiny object to stay in power. Wake up, sheeple. I agree with most of this. Although to reduce the deficit it has to be both revenues and expenditures. Like you said, but in a different way. No politician is actually going to cut spending. Even tho Americans hate the wasteful spending, they all want their money still. Yes even the wealthy want the money spent their way too. Since revenue is up it seems like all that’s left to do is cut spending. Why won’t they? Revenue is down relative to the size of the economy. Idiot.And yes we need to cut spending but neither party will. For reasons I've stated many times. Even in the post you quoted. You really are struggling today.
Da fuq difference does it make what anyone pays in taxes?!?The debt ceiling is apparently unlimited and annual deficits have no meaning.Until the endless wars and re-fucking-diculous spending ends, this who pays more argument is exactly what the two parties want as the shiny object to stay in power. Wake up, sheeple. I agree with most of this. Although to reduce the deficit it has to be both revenues and expenditures. Like you said, but in a different way. No politician is actually going to cut spending. Even tho Americans hate the wasteful spending, they all want their money still. Yes even the wealthy want the money spent their way too. Since revenue is up it seems like all that’s left to do is cut spending. Why won’t they? Revenue is down relative to the size of the economy. Idiot.And yes we need to cut spending but neither party will. For reasons I've stated many times. Even in the post you quoted. You really are struggling today. Revenue is up liar
Da fuq difference does it make what anyone pays in taxes?!?The debt ceiling is apparently unlimited and annual deficits have no meaning.Until the endless wars and re-fucking-diculous spending ends, this who pays more argument is exactly what the two parties want as the shiny object to stay in power. Wake up, sheeple. I agree with most of this. Although to reduce the deficit it has to be both revenues and expenditures. Like you said, but in a different way. No politician is actually going to cut spending. Even tho Americans hate the wasteful spending, they all want their money still. Yes even the wealthy want the money spent their way too. Since revenue is up it seems like all that’s left to do is cut spending. Why won’t they? Revenue is down relative to the size of the economy. Idiot.And yes we need to cut spending but neither party will. For reasons I've stated many times. Even in the post you quoted. You really are struggling today. Revenue is up liar Did you even read what I wrote? Reading is tuff for you and Mike today.
