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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 10:59 am to Taxing Authority
Posted on 3/28/17 at 10:59 am to Taxing Authority
quote:
The problem here is the preception that people making a top10% income (~$100k/yr) are "middle class". They aren't.
Then what are they? I assure you that rich is not the correct word.
Posted on 3/28/17 at 10:59 am to Antonio Moss
Hey Antonio, what year did the Federal Government take in record revenues?
Posted on 3/28/17 at 11:01 am to Tigerdev
quote:What "loopholes" have a minimum income requirement?
When you look at the deductions and loopholes a lot of wealthy people aren't getting dragged as much as it would appear.
Posted on 3/28/17 at 11:04 am to Tigerdev
quote:There is no equivalence between Obama's deficits and any of husband predecessors. His smallest deficit was >2x Bush's "unpatriotic" single-year deficit.
Just sayin...For the last eight years you would think the deficit was all that mattered in terms of economic stats.
Posted on 3/28/17 at 11:05 am to the808bass
quote:I wish!!
Add in state, sales and other taxes and most wealthy pay well into the 30% range
Posted on 3/28/17 at 11:06 am to Jeff Boomhauer
quote:
The problem here is the preception that people making a top10% income (~$100k/yr) are "middle class". They aren't.
Then what are they? I assure you that rich is not the correct word.
Would like to hear the answer to this as well.
Posted on 3/28/17 at 11:07 am to Tigerdev
quote:
Relative to our expenses our revenue is too low. Absolutely correct.
I will post it again. Where will revenue to pay off the debt come from?
The "rich"?
Posted on 3/28/17 at 11:08 am to the808bass
quote:
Hey Antonio, what year did the Federal Government take in record revenues?
Relative to GDP, it was 2000 I believe
Posted on 3/28/17 at 11:11 am to Eurocat
So, you're liking Trump better now?
Posted on 3/28/17 at 11:12 am to NC_Tigah
quote:
Because the "top" is increasingly taking a larger slice of the pie.
Once again, facts are not your friend.
Indeed. Let's have a look at transfer payments...
And that's just the directs...
Posted on 3/28/17 at 11:14 am to the808bass
quote:We'd have a balanced budget today, or pretty close to it. Remember how people were dying in the streets and we had no roads back then. Life was TURRIBLE!!!
I propose that we reset all Federal department budgets to 2007-08 levels. Boom. Problem solved.
Muh Roads!
Posted on 3/28/17 at 11:15 am to Jeff Boomhauer
quote:90% of the population makes less money than them. Would you call them "middle class"?
Then what are they? I assure you that rich is not the correct word.
Posted on 3/28/17 at 11:32 am to BamaAtl
quote:
He knows that posting the % tax paid by income brackets is bull shite. When all of the income growth goes to the top, then OF COURSE they'll pay a greater share over time - they're making more money!
For the record, Pikkety and Saez (where the left gets this talking point) quietly updated their numbers.
quote:
Saez releases new inequality estimates every year, along with a summary of inequality trends and levels. The claim that all gains have gone to the top 1 percent of U.S. households comes from his January 2015 summary, where he noted that 91 percent of the income growth in the U.S. between 2009 and 2012 went to the top 1 percent of tax units. But Saez's June 2015 summary updated his data through 2014 and reported that the top 1 percent had received 58 percent of income gains from 2009 to 2014.
While the top 1 percent of households received an outsize share of income growth during the recovery, they also suffered a disproportionate share of income losses during the Great Recession. From 2007 to 2009, real income declined in the U.S., with fully half the decline falling on the top 1 percent. The average income of the top 1 percent was 36 percent lower ($553,000, on average) in 2009 than in 2007. Among the bottom 90 percent, income was 12 percent lower ($4,300).
Posted on 3/28/17 at 11:37 am to HailHailtoMichigan!
quote:Again, here is what that looks like:
Saez releases new inequality estimates every year, along with a summary of inequality trends and levels. The claim that all gains have gone to the top 1 percent of U.S. households comes from his January 2015 summary, where he noted that 91 percent of the income growth in the U.S. between 2009 and 2012 went to the top 1 percent of tax units. But Saez's June 2015 summary updated his data through 2014 and reported that the top 1 percent had received 58 percent of income gains from 2009 to 2014.
While the top 1 percent of households received an outsize share of income growth during the recovery, they also suffered a disproportionate share of income losses during the Great Recession. From 2007 to 2009, real income declined in the U.S., with fully half the decline falling on the top 1 percent. The average income of the top 1 percent was 36 percent lower ($553,000, on average) in 2009 than in 2007. Among the bottom 90 percent, income was 12 percent lower ($4,300).
Posted on 3/28/17 at 1:08 pm to NC_Tigah
What liberal idiot is saying this is not a tax cut for the middle class??
Didn't they read the proposal to eliminate the estate tax?
No more will the middle class bear the burden of paying taxes on their estates when they exceed $11,000,000.
Huge for all you Trump voting blue collar workers out there that wouldn't listen to liars like me on here saying pubs don't protect the middle class.
Boy was I wrong.
Didn't they read the proposal to eliminate the estate tax?
No more will the middle class bear the burden of paying taxes on their estates when they exceed $11,000,000.
Huge for all you Trump voting blue collar workers out there that wouldn't listen to liars like me on here saying pubs don't protect the middle class.
Boy was I wrong.
Posted on 3/28/17 at 1:17 pm to PygmalionEffect
Classic liberal thought process. Middle class gets a tax cut...but it's still bad because the wealthy get one too!! ??
Of course wealthy people should be taxed for dying. They need to stop acting like its their money.
Of course wealthy people should be taxed for dying. They need to stop acting like its their money.
This post was edited on 3/28/17 at 1:18 pm
Posted on 3/28/17 at 1:18 pm to PygmalionEffect
are you under the impression that you have to tax the rich to help the middle class?
Posted on 3/28/17 at 1:20 pm to BBONDS25
quote:
Of course wealthy people should be taxed for dying. They need to stop acting like its their money.
I could entertain an argument for a healthy estate tax if it actually eliminated most other forms of taxation. The problem is that people that who support increasing estate taxes don't want to reduce any other in taxes in response.
I'm of the opinion that federal government has way too much money as is; it doesn't need more. We are wading into murky waters where people are arguing that not only does the federal government need more money; it's entitled to it.
Posted on 3/28/17 at 1:23 pm to PygmalionEffect
quote:
Huge for all you Trump voting blue collar workers out there that wouldn't listen to liars like me on here saying pubs don't protect the middle class.
Except for the facts in this thread you chose to ignore. Like the increase in the standard deduction that will benefit the middle class more than anything.
This post was edited on 3/28/17 at 1:24 pm
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