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re: Ryan tax plan would cut taxes on rich and RAISE THEM on middle class - WaPo
Posted on 3/28/17 at 10:05 am to BamaAtl
Posted on 3/28/17 at 10:05 am to BamaAtl
quote:
Yeah, the rich has really been 'soaked' since Reagan.
Marginal rates have decreased across the board since 1980 but the highest earners' share of tax revenue has increased. At it's peak in 2008, the top 2% of income earners were paying 25% of all federal income tax revenue.
So any kind of tax cut is going to "benefit" the highest earners to a greater degree simply because they pay exponentially more in income taxes.
0
Posted on 3/28/17 at 10:06 am to DisplacedBuckeye
quote:Never mind the fact the rich can generally pass on the extra expenses they have for higher taxes to everyone else.
quote:
the more affluent to shoulder that load
Why? Everyone should shoulder the load relative to their "status."
That gets overlooked a lot.
Posted on 3/28/17 at 10:07 am to Eurocat
quote:
People say they want spending cut but they don't really when confronted with it. They like governmental programs.
I legitimately want across the board spending cuts.
Posted on 3/28/17 at 10:08 am to redfishfan
I can't sign up for a war on phantom regulations. Need to discuss each one specifically because most regulation roll backs are the result of lobbying from people who directly benefit.
Posted on 3/28/17 at 10:08 am to BamaAtl
quote:Once again, facts are not your friend.
Because the "top" is increasingly taking a larger slice of the pie.
Posted on 3/28/17 at 10:09 am to Tigerdev
The question you asked about the standard deduction shows a lot more than not knowing details. You don't even understand the concept. You will be on here whining about Trumps tax plan helping the rich and hurting the middle class...yet you will also have no understanding of the impact increasing the standard deduction has in the poor and middle class.
How do you feel about AMT? I assume you make enough for that to be a worry.
How do you feel about AMT? I assume you make enough for that to be a worry.
Posted on 3/28/17 at 10:11 am to Tigerdev
quote:
I can't sign up for a war on phantom regulations. Need to discuss each one specifically because most regulation roll backs are the result of lobbying from people who directly benefit.
I'm fine with that. Complying with regulations cost companies about 1.7 trillion a year in the US so we don't have to roll back many to save a ton of money.
Posted on 3/28/17 at 10:12 am to Eurocat
Stopped at WAPO
Posted on 3/28/17 at 10:17 am to BamaAtl
WaPo is the Breibart for Dem talking points.. along with NY Times.
Under a Dem president my taxes would go up.. If top people got a tax break, as long as I didn't have to pay more, I'm ok with that.. I'm tired of always having to pay more//
Under a Dem president my taxes would go up.. If top people got a tax break, as long as I didn't have to pay more, I'm ok with that.. I'm tired of always having to pay more//
Posted on 3/28/17 at 10:19 am to Friscodog
I love how these clowns post this fake crap and hope people don't fact check it. There are calculators online that will show you how much you save or if you would pay more under the Trump plan.
Posted on 3/28/17 at 10:21 am to Eurocat
quote:
The estate tax should be doubled. If the guy is dead he doesn't need the money anyway.
Tax capital gains at regular income levels.
Sorry your family has never had any inheritance. But whatever I leave to may kids, I've already paid taxes on, why should it be taxed again?
Posted on 3/28/17 at 10:26 am to BamaAtl
quote:
Yeah, the rich has really been 'soaked' since Reagan.
Posted on 3/28/17 at 10:27 am to llfshoals
That's a good point. I don't know anyone that hits 39.6%
Posted on 3/28/17 at 10:29 am to Tigerdev
quote:
The deficit between revenue and expenses is too high to address by singularly raising revenue or reducing spending. Both are required.
How do you propose we raise revenues? Just increase the tax rates? Particular at the top? When the top Marginal Tax Rate was around 90% the tax revenue was still about the same as it is today as a percentage of GDP. Just raising the tax rates doesn't necessarily mean you are going to get the increased revenue you are expecting. As rates have fluctuated wildly the revenues collected have remained relatively flat.
Posted on 3/28/17 at 10:46 am to llfshoals
quote:
Never mind the fact the rich can generally pass on the extra expenses they have for higher taxes to everyone else. That gets overlooked a lot.
Lol. Wut
Posted on 3/28/17 at 10:48 am to Antonio Moss
quote:
I legitimately want across the board spending cuts.
I propose that we reset all Federal department budgets to 2007-08 levels. Boom. Problem solved.
Posted on 3/28/17 at 10:49 am to boogiewoogie1978
quote:Boom, indeed.
boogiewoogie1978
You should have read a little further.
Posted on 3/28/17 at 10:51 am to Tigerdev
quote:
Relative to our expenses our revenue is too low. Absolutely correct.
Regardless of marginal rates, revenue has always sat at about 17% of annual GDP. The best method for increasing revenue isn't increasing rates (which can actually reduce revenue in some circumstances) but to increase economic growth.
And if we are concerned about rate of revenue versus expenditures, it's much easier to reduce expenditures.
This post was edited on 3/28/17 at 10:53 am
Posted on 3/28/17 at 10:56 am to Eurocat
quote:
People say they want spending cut but they don't really when confronted with it. They like governmental programs.
You like government programs. They are useless to the vast majority of the board.
You want savings?
- Cut payouts to SS, Medicare/Medicaid, and other welfare type entitlements 1.25% per year over the next 8 years. Additionally, come up with a plan that eliminates SS altogether. This will have to be done over decades.
- Reduce number of active military, take those savings and put them into technology (long term savings on benefits).
- eliminate defined benefit plans for all fed workers (including military)
Posted on 3/28/17 at 10:58 am to blowmeauburn
quote:
I'm also hesitant to believe that Ryan is smarter than this.
I don't think its a smart/dumb thing, Ryan is smart he's just a true believer in Randian dogma.
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