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re: 40.1 percent of U.S. households pay no income tax
Posted on 8/17/24 at 12:58 pm to Wellborn
Posted on 8/17/24 at 12:58 pm to Wellborn
quote:True, but why leave out FICA, as those are the programs we should be most worried about funding? And FICA phases out quite early.
40.1 percent of U.S. households pay no income tax
0
Posted on 8/17/24 at 12:58 pm to FriedEggBowL
quote:
shouldn't be a woman (too emotional)
It’s not that they’re too emotional, it’s because they have the advantage of using their looks as their meal ticket early in life… women are born with their value, men have to earn it
Posted on 8/17/24 at 1:00 pm to Pizza Dan
quote:
is why democrats win elections. Almost half or more want the party of entitlements in office.
All American voters want entitlements. Period. Both parties heavily rely on their entitlements. The biggest difference seems to be one wants to help people who already have money and businesses ensure they keep it and the other wants to protect the most vulnerable amongst us. Neither party is clamoring for a free market they're both just clamoring for their supporters to get more handouts.
Posted on 8/17/24 at 1:04 pm to Wellborn
quote:I'm glad the article was at least honest enough to frame it this was - i.e. it's LESS than 2:1 effect. Usually, they disingenuously compare the 1% to the 26% and then claim it's 26:1
Finally, we come to the top 1%, another 1.5 million returns with earnings in excess of about $682,500. Their share of income taxes paid was 45.8%, not quite double their share of income. Their average tax rate was 25.9%. Among the tippy-top 0.1%, or 154,000 returns with earnings above about $3,775,500 a year, the average tax rate was similar, 25.7%.
The burden of income taxes, in other words, falls almost entirely on the top half of earners and disproportionately on the top 1%. Notice that tax rates rise steadily with income, a basic feature of a progressive code. The average income tax take is 10% or less for the middle class, which jumps to more than 25% for the highest earners.
I find it extremely hard to be butt hurt about this. Us in the 1% benefit the most from having such a military and rule-of-law system. It provides a very stable backdrop protecting our businesses and the like. Not only that, for all the hand-wringing about the debt, the 1% BY FAR have benefited the most from government spending - just look at the crazy inflation of stocks and real assets driven by cheap money and spending, mostly held in much greater proportion than the poors. So from that perspective, the interest on the debt is worth it.
If you back all of those out of the 26% effective rate, what are we down to? 15%? 10%? Are you really up in arms about such a thing when you get to be part of the luckiest class of people to have ever lived in the entire history of the earth?
In any event the spending ain't changing, no matter who is POTUS.
Posted on 8/17/24 at 1:04 pm to hottub
quote:
3. Every state go to the Maine/Nebraska model for EC votes
I'm a big fan of abolishing winner take all laws.
The EC never contemplated this. These laws are a corruption of the EC.
Those who are pushing the popular vote because gives more granularity to the will of voters should be for abolishing winner take all. While it doesn't get to the granularity they want it gets them a lot closer.
quote:
4. Abolish party primaries for all elections.
I never understood why parties (which are basically private clubs) get to use the election infrastructure of the states at taxpayer expense.
They are perfectly capable of devising their own systems even is it is using the simple caucus system.
Posted on 8/17/24 at 1:05 pm to oklahogjr
quote:The multi-trillion $ F-35 boondoggle was absolutely subscribe to by nearly ever state. Even anti-military socialist Bernie Sanders had his hand out for Vermont's piece of the pie.
All American voters want entitlements. Period. Both parties heavily rely on their entitlements. The biggest difference seems to be one wants to help people who already have money and businesses ensure they keep it and the other wants to protect the most vulnerable amongst us. Neither party is clamoring for a free market they're both just clamoring for their supporters to get more handouts.
And many of the muh taxes people on here LOVE them some F-35.
Posted on 8/17/24 at 1:11 pm to Wellborn
quote:
Fair Tax would fix 100% of this, would fully fund the government and it would fix a significant number of governmental societal cultural problems because 100% of citizens would have some kind of financial skin in the game.
It would also tax illegal non-citizens as well
Posted on 8/17/24 at 1:11 pm to Big Scrub TX
quote:
The multi-trillion $ F-35 boondoggle was absolutely subscribe to by nearly ever state. Even anti-military socialist Bernie Sanders had his hand out for Vermont's piece of the pie
The real reason we won't cut the military budget or production of this stuff right here. We certainly had hands out in Arkansas making these parts and ensuring as much cost as possible was allocated to these projects in the aerospace industry so we could justify the charge for the parts....
Posted on 8/17/24 at 1:23 pm to Wellborn
Eliminate income tax, institute consumption tax that everyone pays.
Posted on 8/17/24 at 1:29 pm to Wellborn
Oh we pay our fair share for sure.
Posted on 8/17/24 at 1:37 pm to lsusa
Consumption taxes are not significant, and generally fun local government taxes.
If you do not pay federal taxes, you should not vote for politicians that determine spending and tax collection.
If you do not pay federal taxes, you should not vote for politicians that determine spending and tax collection.
Posted on 8/17/24 at 1:44 pm to Wellborn
That thing that makes it even worse is the people who make money on their tax return.
At minimum everyone needs skin in the game, even if it is only 5%-10%. But if we have to have people who don't pay, they absolutely should not get more back than they put in. EITC should get you to 0 and not a penny more.
At minimum everyone needs skin in the game, even if it is only 5%-10%. But if we have to have people who don't pay, they absolutely should not get more back than they put in. EITC should get you to 0 and not a penny more.
Posted on 8/17/24 at 2:01 pm to Wellborn
I’ve seen numbers that say it’s as high as 45-46% that don’t pay taxes. Pretty close to that 50/50 threshold.
Posted on 8/17/24 at 2:02 pm to Wellborn
quote:
Please elaborate. I’m not seeing the positive in this, but am open for an explanation.
It puts more power back in your individual vote. What is easier, an entire state to get in the same page to replace a US senator/representative or is it easier for your community to get on same page to replace a state legislature person. If don’t like the senators that your state legislature is sending to congress then you replace your state legislature with someone who will select senators more in line with your beliefs.
Posted on 8/17/24 at 2:04 pm to TigerWoodlands
quote:Income taxes. Many of them pay FICA at an effectively HIGHER rate. And they pay state and local taxes + fees and stuff like that. Gasoline tax is also arguably regressive.
I’ve seen numbers that say it’s as high as 45-46% that don’t pay taxes. Pretty close to that 50/50 threshold.
Posted on 8/17/24 at 2:07 pm to Wellborn
You know why they don’t pay income tax, right? Because they’re broke dicks. I’m sure many of us are still better off than they, even after you balance the ledger with “us” paying taxes and them not.
Posted on 8/17/24 at 2:12 pm to Wellborn
Sat at the grocery store for 30 mins today waiting to check out at the register behind someone arguing about what they could put on their Louisiana Purchase Card while loudly talking on speaker on a better phone than mine.
There's got to be a breaking point somewhere...
There's got to be a breaking point somewhere...
This post was edited on 8/17/24 at 2:14 pm
Posted on 8/17/24 at 2:15 pm to Wellborn
With all the people hiding cash and illegals, we are going to have to go to some type greater sales based tax or the honest tax payer will keep providing for those that don’t do shite.
Posted on 8/17/24 at 2:16 pm to RealDawg
Wait until they let the illegals access their social security.
Posted on 8/17/24 at 2:17 pm to Wellborn
I am firmly in the upper 60 percent.
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