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1
Posted on 9/16/21 at 1:08 pm to fjlee90
I want the people who don’t contribute at all to step up.
Posted on 9/16/21 at 1:08 pm to AlterEgo89
quote:
Or implement a VAT like in Europe. VATs are pretty efficient forms of tax and they end up raising lots of money for governments. It's also a silent tax in that people don't notice it that much.
The VAT is basically a national sales tax. I don't see that passing in the U.S. any time soon, although I could get behind it if it was replacing the income tax.
Posted on 9/16/21 at 1:08 pm to Big Scrub TX
quote:
And what % of national income do they earn? I'll help you - it's probably 20-21%.
The dirty secret is middle class taxes need to go up.
My point exactly. The middle class will be squeezed for this.
At least you're honest.
Posted on 9/16/21 at 1:10 pm to Eurocat
quote:
You have to calculate how much they make to see if what they give is so unbalanced. If I had 10 sons and 1 was a billionaire, and the others were average middle class income earners and I installed a family "annual income tax to help the family" of course the richest son would end up paying 99.99% of the tax money even if he is only 10% of my sons.
It is currently unbalanced. As a share of income, they earn roughly 20% of the income in the USA.
They pay 40% of the income taxes. How much more unbalanced would you prefer?
Posted on 9/16/21 at 1:12 pm to Tigers0918
quote:
can you just reword the question.
Do you think we should have a progressive tax or not. Of course people who make more money pay more taxes.
The question should be, should you pay a higher % for income over a million than at 50k?
I say yes
That is deflection. My point as stated, the rich don't have enough to provide what is being asked of them.
So Mr. 50k will get to foot the bill.
Posted on 9/16/21 at 1:14 pm to Oswald
quote:
quote:
I'd rather we reduce government spending instead, thanks.
The other day I had to visit the SBA office in downtown Manhattan at Federal Plaza (holds many U.S. govt offices).
They have security similar to the airports, but due to covid, very few offices are open and there are very few visitors.
Yet at security they had six guards at the entrance of the security check and four on the other! All of them were employed by a contractor. 10 guards when probably 4 would be more than enough. NYC contractor rates for security guards are around $500 per day!
Glad to see my taxes at work!
This post was edited on 9/16/21 at 1:15 pm
Posted on 9/16/21 at 1:14 pm to Big Scrub TX
quote:
The dirty secret is middle class taxes need to go up.
Hm. Would it be fair to also suggest that we could cut spending?
Posted on 9/16/21 at 1:15 pm to Mickey Goldmill
quote:
You realize that when a spending bill is agreed to, that doesn't mean they have to come up with all that money immediately, right? Usually the items in those bills are paid for over a very long period of time.
In this case, 10 years.
That said, billionaires are still incapable footing this bill. The wealth does not exist. The boogeyman known as the ultra wealthy are incapable of giving what is being asked of them.
So who will give it? Big Scrub TX answered appropriately.
Posted on 9/16/21 at 1:16 pm to fjlee90
I wonder if the dems would agree to a tax raise for the rich but for the poor you can’t get back more money in taxes than you paid in? It should be impossible to get back more than paid and that shouldn’t be controversial at all.
Posted on 9/16/21 at 1:18 pm to fjlee90
None of this includes hidden income I think
offshore
Swiss
all that is real
I think it also doesn't include Amazon, et al, paying nothing. So if their corporate profits balloon because of being tax free, the individual nets (from top level staff of said companies) off that annual number produce tons more income and thus the offset taxed is not so bad to them
Also, finally, if any of you think we are provided with the truly richest people on the planet rankings each year, well, it's the old old old old old old money that is never listed in those rankings, and we aren't told the names of those families. We know a few names, we do not know the majority.
offshore
Swiss
all that is real
I think it also doesn't include Amazon, et al, paying nothing. So if their corporate profits balloon because of being tax free, the individual nets (from top level staff of said companies) off that annual number produce tons more income and thus the offset taxed is not so bad to them
Also, finally, if any of you think we are provided with the truly richest people on the planet rankings each year, well, it's the old old old old old old money that is never listed in those rankings, and we aren't told the names of those families. We know a few names, we do not know the majority.
This post was edited on 9/16/21 at 1:24 pm
Posted on 9/16/21 at 1:19 pm to gothamdawg
quote:
The VAT is basically a national sales tax. I don't see that passing in the U.S. any time soon, although I could get behind it if it was replacing the income tax.
Effectively, yeah.
I'm actually in favor of reducing income taxes + lowering corporate taxes + implementing a VAT. It's a much better way of raising money the government needs.
It also works so much better.
My ideal government would reduce income taxes significantly, get rid of corporate taxes, and implement a VAT. Beautiful but no government would ever do that.
Posted on 9/16/21 at 1:22 pm to Big Scrub TX
quote:
The dirty secret is middle class taxes need to go up.
You're right, except it's never been a secret
The ultra rich hide their money, and they are allowed to hide their money by the PTB's, and the brunt of the expense falls to the upper middle class and the middle class
This is simply the answer to why you ask yourself, "Why do the super rich support high taxation?"
Because the peasants will be taxed the most. Not them.
Posted on 9/16/21 at 1:24 pm to fjlee90
quote:
My point... what you want is not possible. There is not enough wealth in existence to 'tax the rich' to create these social programs. You have to tax the average taxpayer.
This last paragraph says it all. The apolitical are great targets for the left. They say “sure, the rich should pay more taxes” and “I’m for equality” and “I’m against racism” and it’s easy for them to meander to the left. Then tribalism and confirmation bias take hold and at that point it’s over. There never was much of a window for them to realize the entire premise that drew them in was just a facade.
Posted on 9/16/21 at 1:27 pm to AlterEgo89
How about stop funding endless war
Your ideal govt will never exist, nor will mine
the ideal govt of the elites is written on the Georgia Guidestones
Your ideal govt will never exist, nor will mine
the ideal govt of the elites is written on the Georgia Guidestones
Posted on 9/16/21 at 1:30 pm to Harry Rex Vonner
quote:
stop funding endless war
You’re gonna need to chill out with that common sense.
Posted on 9/16/21 at 1:36 pm to fjlee90
If she only really meant this re targeting just Soros, Gates, Bezos, etc... then I'd say a broken clock is right twice a day on this. But I suspect this is just to get the camel's toe in the tent and then the middle class will end up taking it like always.
Posted on 9/16/21 at 1:39 pm to Big Scrub TX
quote:
The dirty secret is middle class taxes need to go up.
If it would wake up the suburban housewives, I'm for it. "No Pelaton for you..."
Posted on 9/16/21 at 1:43 pm to AUauditor
quote:Odd numbers.
I clipped an article out of the Journal of Accountancy (yes, I am a nerd) and keep it on my desk for such discussions.
For the 2017 tax year, the top 1%:
1.43m returns
$515,371 AGI Floor
Share of total AGI - 21%
Share of all income tax paid 38.5%
Average tax rate 26.8
E.g., does 1.43m represent total returns, or is it supposedly 1% of total households?
--------------
Income tax revenue (Total) $1.932 trillion ( LINK)
Income tax revenue (The 1%) $0.772 trillion
Total US Households 122.5 Million ( LINK).
1% of US Households 1.225 Million.
Taxes per 1% household = $630,204.
This post was edited on 9/16/21 at 2:14 pm
Posted on 9/16/21 at 1:45 pm to fjlee90
quote:
So my question to you, where do you get the money from? The 1% already accounts for such a large amount of income tax?
Still the 1%
Surely during your research you were able to take a look at the way taxes used to be structured. I assume that's what Trump meant when he says america used to be great.
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