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re: Little Miss Tippie Top Ocasio-Cortez wants to raise taxes to 70% to pay for some socialist

Posted on 1/5/19 at 4:07 pm to
Posted by BBONDS25
Member since Mar 2008
59474 posts
Posted on 1/5/19 at 4:07 pm to
quote:

Let's bring it back to the 60s level of 70%, then.


Do we get the 60s deductions and credits too?
Posted by Taxing Authority
Houston
Member since Feb 2010
63500 posts
Posted on 1/5/19 at 5:15 pm to
quote:

Let's bring it back to the 60s level of 70%, then.

Lets do it!!!



I could use the tax cut!!

Posted by Powerman
Member since Jan 2004
173802 posts
Posted on 1/5/19 at 5:18 pm to
quote:

you took all of it it would be less $400B. Ms Tippie Top should leant some damn math.

Agreed but you could use a chart that isn't 10 years old.

Very few people make ordinary wages at that level so the whole thing is silly.
Posted by rpg37
Ocean Springs, MS
Member since Sep 2008
54604 posts
Posted on 1/5/19 at 5:36 pm to
Aren't most of the uber-wealthy democrats anyway? shite, let them increase the tax bracket on millionaires.
Posted by Powerman
Member since Jan 2004
173802 posts
Posted on 1/5/19 at 5:38 pm to
If they wanted to they could write a check to the treasury. It's pretty telling that they also feel their money is better spent on private charity.
Posted by bmy
Nashville
Member since Oct 2007
48203 posts
Posted on 1/5/19 at 5:42 pm to
quote:

They ARE you dumb count. Multi Millionaires pay more in taxes in one quarter than most middle class people pay in a lifetime


And it effects their life less.
Posted by Taxing Authority
Houston
Member since Feb 2010
63500 posts
Posted on 1/6/19 at 8:21 am to
quote:

Agreed but you could use a chart that isn't 10 years old.
You think the distributions has changed significantly?

quote:

Very few people make ordinary wages at that level so the whole thing is silly.
]It’s a chart of AGI. Which Includes all income types. Including capital gains income, etc. there is no secret tax free income forms magically available to “the rich”.
This post was edited on 1/6/19 at 8:22 am
Posted by Mahootney
Lovin' My German Footprint
Member since Sep 2008
12156 posts
Posted on 1/6/19 at 2:47 pm to
She just had a 60-minutes highlight clip during NFL game.
"What we're living in now is what is unrealistic." -OC

Ummm.... actually. What we are living in now is the ultimate definition of realistic.
She's so dumb. Haha.
Posted by CDawson
Louisiana
Member since Dec 2017
20310 posts
Posted on 1/6/19 at 2:49 pm to
quote:

contributing more.


Contributing is not the same thing as confiscation by gunpoint.

If only we could contribute.
Posted by SCLibertarian
Conway, South Carolina
Member since Aug 2013
42157 posts
Posted on 1/6/19 at 2:51 pm to
quote:

What we're living in now is what is unrealistic. -OC 

$20 trillion in debt and she wants Medicare-for-all. Who's being unrealistic?
Posted by MI LSU
NYC
Member since Oct 2009
1136 posts
Posted on 1/6/19 at 3:05 pm to
quote:

How about the 30% or so of this country dependant on government assistance contribute above a net 0.

If the rich have to contribute more, shouldn't eveyone have to contribute somthing first?


this is a ridiculous argument. you guys are focused on the wrong group of people, and it boggles my mind you don't see it. a handful of the wealthiest people can contribute more than all of the poor people combined--and also FEEL IT THE LEAST--so why does it make sense to go after the people who have nothing???

When I was a poor grad student struggling to pay my bills and student loans, taxes KILLED me, and my contribution amounted to next to nothing. I was blessed enough to find myself years later in a position that pays me a small fortune annually, and now I pay a shite-ton of taxes, and even at my current salary (a lot, but way less than $10M a year), my taxes don't hurt me at all. I pay in the top tax bracket, and if they suddenly moved that percentage up 5, 10, 20, 30+%, I wouldn't feel a thing, so i can PROMISE you someone making way more than me would feel nothing.

The ultra-wealthy have conned you all, i promise. They could fix so many things so very quickly by paying more taxes, and it wouldn't hurt them at all. Instead you're all focused on poor people, who can't really move the needle anyway.

it's a real shame.
This post was edited on 1/6/19 at 3:10 pm
Posted by lynxcat
Member since Jan 2008
25199 posts
Posted on 1/6/19 at 3:11 pm to
By “not hurt at all” I think you reference the marginal utility of each additional dollar earned by the wealthy. They are still hurt equally financially in that it is an extra dollar in taxes that they no longer control. There is a big difference between marginal utility of a dollar and the actual financial consequence.

I agree that the marginal utility basically becomes 0 at the high end of the income ladder but the absolute value of a dollar is still a dollar so it still has financial impact on long term wealth generation.
Posted by wutangfinancial
Treasure Valley
Member since Sep 2015
11959 posts
Posted on 1/6/19 at 3:12 pm to
quote:

The ultra-wealthy have conned you all, i promise. They could fix so many things so very quickly by paying more taxes, and it wouldn't hurt them at all. Instead you're all focused on poor people, who can't really move the needle anyway.


When has growing government fixed anything? I’ll hang up and listen...
Posted by chalmetteowl
Chalmette
Member since Jan 2008
54852 posts
Posted on 1/6/19 at 3:13 pm to
quote:

If I'm paying 70% in taxes, do I get provided housing/healthcare/food? What about internet?

I made $54,340

Posted by HubbaBubba
North of DFW, TX
Member since Oct 2010
51895 posts
Posted on 1/6/19 at 3:18 pm to
quote:

I just want to see her nudes.
Any deep fakes would work, too.
Posted by MI LSU
NYC
Member since Oct 2009
1136 posts
Posted on 1/6/19 at 3:19 pm to
quote:

By “not hurt at all” I think you reference the marginal utility of each additional dollar earned by the wealthy. They are still hurt equally financially in that it is an extra dollar in taxes that they no longer control. There is a big difference between marginal utility of a dollar and the actual financial consequence.

I agree that the marginal utility basically becomes 0 at the high end of the income ladder but the absolute value of a dollar is still a dollar so it still has financial impact on long term wealth generation.


so what's the problem, then? I'm telling you--they don't feel it.
Posted by MI LSU
NYC
Member since Oct 2009
1136 posts
Posted on 1/6/19 at 3:20 pm to
quote:

When has growing government fixed anything? I’ll hang up and listen...


you're dodging my point...
Posted by Taxing Authority
Houston
Member since Feb 2010
63500 posts
Posted on 1/6/19 at 8:54 pm to
quote:

a handful of the wealthiest people can contribute more than all of the poor people combined-
Not the case. I posted the chart illustrating for you earlier in this thread. The “middle class” has way more income than “the rich” do. It’s not even close.

quote:

and also FEEL IT THE LEAST
So if you had facial neuropathy, would it be cool if I repeatedly punched you in the face? I mean, you’d never feel it if I broke your skull. So it would be cool right?

Quick question how many shirts do you own?

I have news for you. $1 taken from a rich pers buys exactly the same goods $1 does from a poor person. The idea that one can take something and it has greater or lesser value is silly.

quote:

so why does it make sense to go after the people who have nothing???
No one has suggest that. But it’s a cute strawman.

quote:

They could fix so many things so very quickly by paying more taxes,
If you took EVERY dollar of income by anyone making >$10million\yr, you couldn’t even lower the deficit by more than 30%. Much less “fix so many things”.

Learn some math. Even though your hero Ocasio says you don’t need it. You do. You’re dangerously ignorant. So much that you believe “the rich” can fund your dreams when they cannot. It’s you that got conned.
This post was edited on 1/6/19 at 8:59 pm
Posted by RogerTheShrubber
Juneau, AK
Member since Jan 2009
299716 posts
Posted on 1/6/19 at 8:59 pm to
quote:

handful of the wealthiest people can contribute more than all of the poor people combined--and also FEEL IT THE LEAST--so why does it make sense to go after the people who have nothing???


These people already bear most of the tax burden

The government is too incompetent to handle more revenue. Give them less and make them earn more.
Posted by Taxing Authority
Houston
Member since Feb 2010
63500 posts
Posted on 1/6/19 at 9:03 pm to
quote:

so what's the problem, then? I'm telling you--they don't feel it.
You're wrong. They “feel” it.

But who cares? Is your goal vengeance, or raising revenue.

If it’s revenue, you raise taxes on the $50k-$500k income levels. That’s where the most money is. So even a small rate hike raises more money than a HUGE raise on “the rich” does.

This post was edited on 1/6/19 at 9:06 pm
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