LITEROTICA PODCAST
LIT CAMS (200 Free Tokens)ADULT TOYSVOD MOVIES

Tax the Rich?

Publius1990 said:
The average American has no concept of taxes in the U.S. The majority of tax paying entities in the U.S. have no federal tax liability (other than payroll deductions for FICA, Medicare, etc...). You can throw up as many charts about the GOP tax bill benefiting the rich (Who already pay the majority of the tax burden). But you can’t give a tax cut to people that are not already paying taxes.
Click to expand...



Maybe most americans don't understand corporate taxes but I think they have a reasonable understanding of their own taxes ( FICA, FED AND STATE taxes ). I would say that most working people have federal taxes withheld unless they're working under the table.
 
dan_c00000 said:
Just a reminder that I'm a racist. If you have brown or black skin stay away from me because I hate you. (Unless you're a filthy rethuglican and I can sponge off the money you pay in taxes!)
Click to expand...

You need help. You've reminded us of this what, three, maybe four times just today! We get it. You're a racist.
 
dan_c00000 Makes a Fool of Himself, Again

dan_c00000 said:
https://www.cbpp.org/sites/default/files/thumbnails/image/gale_infocus.png
Click to expand...

Wow!

Another pretty picture...

That again has nothing to do with reality.

This chart dates back to at least August 30, 2017. Notice that it refers to what was then identified by this blogger as the "Trump Tax Approach"; not even an actual plan or proposal, just an "approach."

Again this has nothing to do with the Republican's Tax Cuts and Jobs Act, Public Law 115–97 (131 US Stats. 2054), which was not enacted until December 22, 2017, and did not go into effect until the following year.

Again, you prove you have no idea what any of this really means or how it works.
 
DawnODay said:
Wow!

Another pretty picture...

That again has nothing to do with reality.

This chart dates back to at least August 30, 2017. Notice that it refers to what was then identified by this blogger as the "Trump Tax Approach"; not even an actual plan or proposal, just an "approach."

Again this has nothing to do with the Republican's Tax Cuts and Jobs Act, Public Law 115–97 (131 US Stats. 2054), which was not enacted until December 22, 2017, and did not go into effect until the following year.

Again, you prove you have no idea what any of this really means or how it works.
Click to expand...


Racist Alt Dawn..... I'm very disappointed in you!... Dan didn't do his homework assignment last night and he's grounded. He has to learn not to draw pretty pictures that don't have substance. Until he completes his old homework and his new assignment on 'current events' he can't come out and play! HA HA HA
 
Last edited:
dan_c00000 said:
https://kypolicy.org/dash/wp-content/uploads/2018/10/Who-Pays-2018-1-e1539781524243.png

https://budgetandpolicy.org/wp-content/uploads/2018/11/20181015_Who_Pays_WA_2018_bar.jpg

http://www.njpp.org/wp-content/uploads/2018/06/Polls-Show-Consistent-Support-Millionaires-Tax-1.jpg
Click to expand...

As this is simply a repeat of something you posted on another thread, I'l repeat my response.

DawnODay said:
Oh, dan_c00000, are you intentionally trying to look stupid?

What have we here? Data about state and local taxes in two states, Kentucky and Washington, and a public opinion poll.

This is what you can come up with in supposed criticism of the federal tax reform which has spurred the best economy we have seen in over 50 years?

This is why I'm beginning to suspect you, dan_c00000, are really an alt created by BotanyBoy simply to set up especially tipsy strawmen.
Click to expand...

Then, there is this.

dan_c00000 said:
I don't even need words any more to own racist dawn and all "her" alts.

https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iPndX1gOUPIg/v1/-1x-1.png

https://i.huffpost.com/gen/1778431/thumbs/n-INEQUALITY-570.jpg
Click to expand...

The latter is another public opinion poll, which proves nothing.

On the other hand, with the Bloomberg data, dan_c00000, you again actually undermine your own position, again proving that you don't actually understand the topic.

The graph shows that the lowest two quintiles received "something," even though it is well established they pay almost no federal income taxes. Q. Fottrell, More than 44% of Americans pay no federal income tax, MarketWatch (Feb. 26, 2019) ("Approximately 76.4 million or 44.4% of Americans won’t pay any federal income tax in 2018, up from 72.6 million people or 43.2% in 2016 before President Trump’s Tax Cuts and Jobs Act").

We also know:

The top 1 percent paid a greater share of individual income taxes (37.3 percent) than the bottom 90 percent combined (30.5 percent).

The top 50 percent of all taxpayers paid 97 percent of total individual income taxes.​

A. Tanzi, Top 3% of U.S. Taxpayers Paid Majority of Income Tax in 2016, Boomberg (Oct. 14, 2018).

Your graph, however, shows that the top one percent received only about $50 thousand dollars in tax relief per capita, and those in the top 50 percent (the top, 4th, and half of the middle quintiles, combined) received somewhat less that $10 thousand per capita. In other words, your graph establishes that on an individual basis, the wealthiest taxpayers received much smaller proportional tax relief than the lowest 40 percent did.

Please post more such graphs, dan_c00000. I appreciate the excellent proof you provide that not only did all segments of American society benefit from the Republican Tax Reform, but also that the tax reform benefited, individually, the poor far more than it did the wealthy!
 
Meanwhile...

John Caudwell, the billionaire founder of Phones4u, has vowed to leave the UK for tax-free Monaco if Jeremy Corbyn becomes prime minister to avoid higher taxes.

With an £1.6bn fortune, Caudwell, 66, is the UK’s 87th richest person, according to the Sunday Times Rich List. He said he and other wealthy Britons would emigrate to escape Corbyn’s proposed wealth tax....

“We’d just go and live in the south of France or Monaco,” Caudwell said in an interview with Spear’s, a magazine aimed at the super-rich. “Why stay here and be raped?”

Labour has proposed a 50% tax rate on those earning more than £125,000 and a 45% rate for those earning more than £80,000.

Caudwell, who owns a £85m Mayfair townhouse, two superyachts, a private jet and a £12m 50-room Jacobean manor house near where he grew up in Stoke-on-Trent, said Corbyn does not understand that increasing taxes will lead to an exodus of the super-rich, who already contribute a lot to society in tax payments.

“What Corbyn never seems to realise is you have got to create wealth in order to spread the wealth out,” Caudwell said....​

Phones4u founder vows to leave UK if Corbyn brings in higher taxes, The Guardian (Apr. 24, 2019).
 
dan_c00000 said:
https://cdn.vox-cdn.com/thumbor/krkCO5I6gGXqa0v6HtkC3RSz2wc=/0x0:7785x4950/1200x0/filters:focal(0x0:7785x4950):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/9892245/tpc1.png
Click to expand...

Finally, dan_c00000, a meaningful and relevant graphic from you!

(I excluded the public opinion poll. The only polls that matter are when people vote for their elected officials.)

As for the data graph, that all looks about right.

What is troubling, of course, is that most of the tax reductions go away in 2027. That's because most of the provisions in the Republican tax reform sunset that year.

Thank you, dan_c00000, for providing proof that the Republican tax reforms should be made permanent!
 
dan_c00000 said:
https://www.cbpp.org/sites/default/files/atoms/files/6-4-18taxf1.png
Click to expand...

Yep. That's right. As I've explained before, the reason the wealthiest people receive larger tax breaks is because they pay such disproportionately high taxes:

The top 1 percent paid a greater share of individual income taxes (37.3 percent) than the bottom 90 percent combined (30.5 percent).

The top 50 percent of all taxpayers paid 97 percent of total individual income taxes.​

A. Tanzi, Top 3% of U.S. Taxpayers Paid Majority of Income Tax in 2016, Boomberg (Oct. 14, 2018).

What I especially like about this graph, however, is that it shows quite well that every quintile received relief under the Republican Tax Reform, even the lowest two quintiles, even though those citizens pay little if any income taxes! Q. Fottrell, More than 44% of Americans pay no federal income tax, MarketWatch (Feb. 26, 2019) ("Approximately 76.4 million or 44.4% of Americans won’t pay any federal income tax in 2018, up from 72.6 million people or 43.2% in 2016 before President Trump’s Tax Cuts and Jobs Act").

Thank you, dan_c00000, for again providing excellent proof that all segments of American society benefited from the Republican Tax Reform!

dan_c00000 said:
https://cdn.vox-cdn.com/thumbor/lG5_ZhPRObXVKvAWqHlgcDcLTPs=/0x0:7962x5529/1200x0/filters:focal(0x0:7962x5529):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/10285019/tcja_chart1.png
Click to expand...

This is troubling, of course, in that much of the tax reform advantages go away in 2025. That's because many of the provisions in the Republican tax reform sunset that year.

Thank you, dan_c00000, for providing even more proof that the Republican tax reforms should be made permanent!
 
Ladies and Gentlemen please give Dan and company a break. They went to the same great college that Cortez and Omar did and you can see what intelligent persons they turned out to be after four years of wasting their rich families money.

He gets his info and data from such great minds as those at CNN, DNC, and MSNBC and you know those people never lie or create false polls or data.

Now give the leftist something shinny to play with and maybe they will go away.
 
To the great shock and disappointment of liberals who have been desperately hoping for an economic downturn, the U.S. economy once again blew away expectations, recording a 3.2 percent GDP growth rate in the first quarter of this year.

Even MSNBC described the quarterly growth as “extraordinary.”

Liberals have been predicting an impending recession for months. Frustrated with the obvious success of President Trump’s sweeping middle-class tax cuts – which they had claimed would result in “Armageddon” – Democrats next argued that the Tax Cuts and Jobs Act (TCJA) would only produce a “sugar high” for the economy. With each successive quarter that their predictions have failed to materialize, they’ve only become more frustrated with the economy’s long-term prospects.

Yet, contrary to their doom-and-gloom narrative, Q1 GDP growth exceeded economists’ projections by nearly a full percentage point, shattering the illusion that America’s economic engine is starting to sputter.

This isn’t a one-time anomaly, either. GDP growth has been increasing steadily throughout Trump’s presidency, and the most recent data bring us to three consecutive quarters in which year-over-year growth has been 3 percent or higher. In fact, GDP growth has averaged 3.3 percent over the past four quarters.

When Trump predicted this economic outcome more than three years ago, the Washington establishment snickered and scoffed, convinced that the pathetic economy Obama presided over was simply the “new normal.”

Former Treasury Secretary and Obama economic adviser Larry Summers compared Trump’s prediction of 3 percent GDP growth to believing in “tooth fairies,” and Obama administration economist Lee Branstetter actually declared that it was “mathematically impossible” to reach 3 percent growth....

The unemployment rate, which currently stands at an impressive 3.8 percent, has been hovering near a 50-year low for a full year now. Even with a record number of people already employed, there are significantly more job openings available in this country than there are unemployed workers to fill them. At the time of Trump’s inauguration, conversely, there about 2 million more people unemployed than job openings. In February (the most recent month for which the data is available) there were nearly 900,000 more job openings that people unemployed. Now that’s a Capitalist Comeback.

Wages have been growing steadily, too, increasing by 3 percent or more for eight consecutive months. The gains have been even greater for low wage workers in retail and hospitality where the increase has been close to 5 percent, showing that the benefits of the Trump economy are accruing to the “forgotten men and women” who were most severely impacted by the Great Recession and the malaise that followed. President Trump promised to fight for those neglected Americans when he was on the campaign trail, and he’s clearly kept that promise since taking office.​

A. Puzder, US economy proves it is robust and thriving, liberal 'sugar high' predictions are wrong again, Fox News (Apr. 27, 2019) (emphasis added).
 
dan_c00000 said:
https://www.financialsamurai.com/wp-content/uploads/2016/11/middle-class-tax-hike.jpg

https://www.foreffectivegov.org/sites/default/files/trump-plan.jpg
Click to expand...

Really, dan_c00000, more of the same? Owning you with these graphs is becoming tedious. Alright, you again asked for it....


First:

These graphs again have nothing to do with reality.

Notice these charts both refer to the "Trump Tax Plan." The top chart is from 2016. The date is embedded in the URL. The second chart dates back to at least October 8, 2015!

Again these have nothing to do with the Republican's Tax Cuts and Jobs Act, Public Law 115–97 (131 US Stats. 2054), which was not enacted until December 22, 2017, and did not go into effect until the following year.

Again, dan_c00000, you prove you have no idea what any of this really means or how it works.


Second:

As I've explained before, the reason the wealthiest people receive larger tax breaks is because they pay such disproportionately high taxes:

The top 1 percent paid a greater share of individual income taxes (37.3 percent) than the bottom 90 percent combined (30.5 percent).

The top 50 percent of all taxpayers paid 97 percent of total individual income taxes.​

A. Tanzi, Top 3% of U.S. Taxpayers Paid Majority of Income Tax in 2016, Boomberg (Oct. 14, 2018).

What I especially like about the second graph, however, is that it shows quite well that every quintile received relief under even these early tax reform plans, including the lowest two quintiles, despite the fact that those citizens pay little if any income taxes! That remianed the case in the tax reform ultimately passed. "Approximately 76.4 million or 44.4% of Americans won’t pay any federal income tax in 2018, up from 72.6 million people or 43.2% in 2016 before President Trump’s Tax Cuts and Jobs Act." Q. Fottrell, More than 44% of Americans pay no federal income tax, MarketWatch (Feb. 26, 2019).*

Thank you, dan_c00000, for again providing excellent proof that all segments of American society benefited from the Republican Tax Reform!



* This makes the second graph especially interesting in what the 'Citizens for Tax Justice' omit from it. They base the comparison on income, without regard for actual taxes paid. Given that the bottom two quintiles do not typically pay any income tax, the fact that they are getting any "reduction" under tax reform is rather astounding. In truth, they are not so much getting a tax reduction as they are getting tax credits that amount to actual payments. It is not "tax relief," it is wealth redistribution, which I thought was something you favored, dan_c00000.




 
Last edited:
You must log in or register to reply here.

Similar threads

S
Guess what happened when Washington state rolled out a steep new income tax
Replies
16
Views
212
Wilson23
W
Rightguide
Who Here Lives In Seattle?
2
Replies
47
Views
683
briancamdudetenger2018
B
B
Democratic fault lines emerge over California's billionaire tax proposal
2
Replies
26
Views
546
Wilson23
W
JohnEngelman
Why has economic inequality increased in the United States?
2 3
Replies
53
Views
587
Wilson23
W
O
The Nov Chicago Business Barometer (formerly ISM) was released y'day
Replies
8
Views
224
HisArpy
HisArpy
Back
Top