Tax rate on richest 400 lower than every other group
Comments
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You could definitely say that both the old 70% rate with multiple deductions, exemption and loopholes was on the side of the curve where the economy still grows and tax revenues increase and you can definitely say that the present 37% is on that same side. In fact, you can definitely say that the previous 39.6% was on that side. There's a "laboratory" out there, remember Gasbag? History, facts and shit?WestlinnDuck said: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.
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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.PurpleThrobber said: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. -
Keep ass phu*cking that strawman counselor. I didn't say spit about the Laffer curve in the 50s. I distinctly said that under the current rules a 70% rate would be on the other side of the curve. You can vote for the fake Indian and we can find out how she is the more fiscally responsible alternative. I pity your clients.
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Since revenue is up it seems like all that’s left to do is cut spending. Why won’t they?2001400ex said:
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.PurpleThrobber said: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. -
Revenue is down relative to the size of the economy. Idiot.MikeDamone said:
Since revenue is up it seems like all that’s left to do is cut spending. Why won’t they?2001400ex said:
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.PurpleThrobber said: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.
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 liar2001400ex said:
Revenue is down relative to the size of the economy. Idiot.MikeDamone said:
Since revenue is up it seems like all that’s left to do is cut spending. Why won’t they?2001400ex said:
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.PurpleThrobber said: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.
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. -
Did you even read what I wrote? Reading is tuff for you and Mike today.RaceBannon said:
Revenue is up liar2001400ex said:
Revenue is down relative to the size of the economy. Idiot.MikeDamone said:
Since revenue is up it seems like all that’s left to do is cut spending. Why won’t they?2001400ex said:
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.PurpleThrobber said: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.
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. -
2001400ex said:
Revenue is down relative to the size of the economy. Idiot.MikeDamone said:
Since revenue is up it seems like all that’s left to do is cut spending. Why won’t they?2001400ex said:
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.PurpleThrobber said: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.
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.
Explain, in your words why revenue needs to increase to the size of the economy. Dumb fuck.2001400ex said:
Revenue is down relative to the size of the economy. Idiot.MikeDamone said:
Since revenue is up it seems like all that’s left to do is cut spending. Why won’t they?2001400ex said:
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.PurpleThrobber said: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.
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. -
2001400ex said:
Did you even read what I wrote? Reading is tuff for you and Mike today.RaceBannon said:
Revenue is up liar2001400ex said:
Revenue is down relative to the size of the economy. Idiot.MikeDamone said:
Since revenue is up it seems like all that’s left to do is cut spending. Why won’t they?2001400ex said:
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.PurpleThrobber said: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.
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.
Has the federal government collect more dollars or not?
Facts are hard fur you.
