Elizabeth Warren op-ed for Boston Globe: The GOP con on the debt ceiling: House GOP plan is about protecting the wealthy from paying their fair share

[busybee01]

Screw off Elizabeth. You had two years and did NOTHING. Democrats even tried to rescind taxes on the wealthy.

Because the wealthy bought off the corrupt Sinema.

 

[busybee01]

Why do people continue to fall for this tax cuts for the wealthy crap? The tax cuts were for virtually everyone that paid taxes and the wealthy got a cut too. Keep in mind, the “rich” already pay a higher rate but and they pay more so yes, they got a bigger cut that others. They also shared an even large percentage of the burden.

The truth about Trump's tax cuts by the numbers, not by Biden: Andy Puzder

Most of the Democrat tax proposals would take the rate back to 39.6%. In addition, Trump's tax cuts gave the wealthy more tax loopholes to further reduce their tax bill. Those should be rescinded.

 

[busybee01]

You people need to give up the old tired mantra of the Rich dont pay their fair share , it makes you sound stupid. Who do you think YOU WORK FOR ???? you work FOR THE RICH either directly or indirectly,,,,,THEY SHOULD NOT PAY TAXES IF THEY PROVIDE MANY JOBS. When the Rich leave the USA,,,,,,YOU ARE GOING TO STARVE.

Also, the RICH DONT PAY TAXES BECAUSE MANY OF THEM ARE NOT US CITIZENS OR THEY HAVE ENOUGH WRITE OFFS TO AVOID BEING TAXED. Any American would take advantage of every tax cut they could, the rich are no different.

The TAX CUTS brought Factories and JOBS BACK TO THE USA,,,,,Do you see a problem with that ????

There is nothing tired about it. It is truth. The wealthy are taking more of the nation's wealth while everyone else gets less. What is so bad is that they are hoarding it. This will lead to a economic meltdown. The rich can only spend so much. Write-offs should be revoked and minimum tax rates should be established. The Trump tax bill created more loopholes for the rich to exploit.

 

[DBA]

Most of the Democrat tax proposals would take the rate back to 39.6%. In addition, Trump's tax cuts gave the wealthy more tax loopholes to further reduce their tax bill. Those should be rescinded

Actually, Trump rescinded one of the perks for the "rich" by capping the SALT deduction. Democrats went bonkers and can't wait until this law expires. You continue to be hoodwinked.

 

[busybee01]

You didn't answer my question. You are running from it.

What government benefits do I get by being in the 22% Federal Income bracket that a filthy ass welfare queen that pays no income tax get? What benefits do my sons get being in the 24% bracket that I don't get?

You said that "the rich" get more benefits so therefore they should have to pay more taxes so here is the time for you to list them.

Stop running away from the question because it is valid.

Post your tax return so we can see what is going on. There are no welfare queens. The welfare queens are big businesses that get big tax breaks. The rich that get big tax breaks. Why should investing in a real estate trust qualify for a 20% tax rate?

 

[Flash]

Most of the Democrat tax proposals would take the rate back to 39.6%. In addition, Trump's tax cuts gave the wealthy more tax loopholes to further reduce their tax bill. Those should be rescinded.

The "rich" pay a tremendous share of this bloated debt ridden government already.

For instance, in one year Trump paid in $36 million in income tax and that was after his high paid tax accountants took every deduction they could muster. That was in addition to the millions he paid in state and local taxes. The mega rich like Bozos, Musk, Gates etc pay more in (combined Federal, State and Local) taxes each day than all the Moon Bats that post on this forum will make in their lifetimes.

80% of the filthy ass trillion dollars a year in Income Tax is paid by the really wealthy in our country and the rest is paid by the Middle Class and that is not enough for you stupid greedy asshole Moon Bats. You want more, more, more!

By the way, the answer is not ever to raise taxes. Our government is too big and too bloated and we are taxed enough. The answer is to lower spending and lower taxes for everybody.

 

[basquebromance]

if the American people wanted Congress to cut spending, there'd be a Republican president + Senate and House GOP majority right now

 

[DBA]

Post your tax return so we can see what is going on. There are no welfare queens. The welfare queens are big businesses that get big tax breaks. The rich that get big tax breaks. Why should investing in a real estate trust qualify for a 20% tax rate?

You don't think a single mother of 4 who doesn't work, gets free housing, Medicaid, SNAP, welfare AND a large childcare tax credit per child (free money for those that don't pay federal income tax) is a welfare queen?

 

[pknopp]

if the American people wanted Congress to cut spending, there'd be a Republican president + Senate and House GOP majority right now

Comedic relief now or an incredible need to attention?

 

[PeanutGallery]

I've heard this same old line about the rich not paying their fair share. If I had a $1 for every time I've read or heard this, I could've outbid Musk for Twitter. You know for all this talk about fair share, when have any of them come out and say what they believe is "their fair share". So, for those who agree with that, I have two questions:

1) Tell us by % how much of their income should go to the government in taxes? (federal/state)
2) If you believe that #1 is fair for them, are you willing to pay the same percentage or near the same percentage on your income?

It's really easy to say what other people need to do & spend their money, but it hits REAL different when people start talking about your paycheck, bank account, and assets.

 

[pknopp]

I've heard this same old line about the rich not paying their fair share. If I had a $1 for every time I've read or heard this, I could've outbid Musk for Twitter. You know for all this talk about fair share, when have any of them come out and say what they believe is "their fair share". So, for those who agree with that, I have two questions:

1) Tell us by % how much of their income should go to the government in taxes? (federal/state)
2) If you believe that #1 is fair for them, are you willing to pay the same percentage or near the same percentage on your income?

It's really easy to say what other people need to do & spend their money, but it hits REAL different when people start talking about your paycheck, bank account, and assets.

To answer your question we have to understand the issue. Who created the wealth that the Fed pumped into the the markets?

 

[dudmuck]

I've heard this same old line about the rich not paying their fair share. If I had a $1 for every time I've read or heard this, I could've outbid Musk for Twitter. You know for all this talk about fair share, when have any of them come out and say what they believe is "their fair share". So, for those who agree with that, I have two questions:

1) Tell us by % how much of their income should go to the government in taxes? (federal/state)
2) If you believe that #1 is fair for them, are you willing to pay the same percentage or near the same percentage on your income?

It's really easy to say what other people need to do & spend their money, but it hits REAL different when people start talking about your paycheck, bank account, and assets.

Billionaires pay 8.2 percent of income to taxes.
Middle class pays at least 22 percent.
It up to opinion of fairness whether or not those wealthy should pay a rate closer to the bulk of the population pays.

 

[PeanutGallery]

Billionaires pay 8.2 percent of income to taxes.
Middle class pays at least 22 percent.
It up to opinion of fairness whether or not those wealthy should pay a rate closer to the bulk of the population pays.

Since it's an income tax and not a wealth tax, how much of what billionaires are earning comes from income versus how much of their wealth is coming from their investments, stocks, etc.? Warren Buffett is worth over $110B dollars but reports his salary at only $100,000 a year for the past forty years. One doesn't get to be that wealthy on $100k a year. Also, all those billionaires are doing is, for the most part, playing within the rules of the tax code. For all the talk of Sen. Warren and others, why haven't the democrats actually gone after the tax code to make billionaires pay "their fair share". Because, those members of Congress, and the big-money donor people they associate with, ALL take advantages of the same things the billionaires use. It's easy to point to the ultra-rich and play on people's jealousies. It's a nice distraction tactic to point out what other people are doing to avoid people looking at them and realizing that the ones pointing it out are doing the same thing.

 

[basquebromance]

 

[basquebromance]

 

[buckeye45_73]

Here’s the ultimate irony of today’s Republican scam: Without years of Republican handouts to the wealthy, there would be no debt ceiling hostage to take. If Republicans hadn’t spent nearly $2 trillion on the Trump tax cuts and abetted wealthy tax cheats by starving the IRS for a decade, the US wouldn’t need to raise the debt ceiling this year. In fact, the current debt ceiling would have sustained federal spending well past the end of Biden’s 1st term. Any debt crisis today should be laid squarely at the FEET of the Republicans who worked tirelessly to help the wealthiest Americans avoid paying taxes.

The Republican con on the debt ceiling - The Boston Globe

The House Republican plan for the debt ceiling is about protecting the wealthy and the well-connected from paying their fair share in taxes — nothing more and nothing less.

www.bostonglobe.com

I haven't seen her try to revoke tax breaks....she's so full of it.

 

[buckeye45_73]

Which Republicans want to make the wealthy pay their fair share?

Fair share is a slogan, what does it mean?
Why doesn't everyone pay their fair share?

 

[Lord Long Rod]

"Fair share"....What bullshit. First, the "wealthy" pay a hell of a lot more in taxes that anyone else. Over 50% of Americans do not pay income taxes. Is their "fair share" 0%? The wealthy pay an income tax on what they earn. The Buffett illusion of people paying a higher percentage of their earnings in taxes is because once people become wealthy they tend to live off their investment income, which is taxed at the capital gains rate, not the marginal rates. In fact, the wealthy have ALREADY been taxed on their earnings through the marginal rates, invested their net earnings, then taxed on the same money AGAIN at the capital gains rate when the earn an income from their investments. So, is it "fair" that over one-half of Americans pay no income tax while others are taxed multiple times on the same money they earn?

Moreover, simple math shows that if you tax all the top 10% earners in the USA at 100%, it still will not come close to being sufficient to fund the bloated U.S. federal government. Taxation of the middle class is ESSENTIAL to funding the federal government. This is a fact given our out of control spending. This is rather ironic since only around half of the U.S. Population pays income taxes. Maybe the half that does not pay income taxes yet enjoys the benefits of the public highways, police, and other services and entitlements should be made to pay their "fair share"? But I digress. The point is that even if you make the wealthy pay their "fair share", it really accomplishes very little in reality.

Chief Elizabeth "Dumber-than-totem-pole" Warren is a liar. She is lying to you. She is an intelligent lawyer; she knows what she is doing. No intelligent person can convince themselves of the truth of what she is saying absent the presence of an acute psychological pathology. This imputes malice to her false message of taxing the rich. This is nothing more than old fashioned Marxist class warfare.

 

[BackAgain]

The Dim propaganda is simplistic and simple minded. Upon any honest consideration, the absurd notion of “fair share” gets obliterated. And libtards like Pocahontas still try to peddle that shit relying on the voters’ general educational ignorance (of economics).

 

[DGS49]

Tax fairness is not difficult to assess.

The FAIREST tax would be a per capita tax. That would mean that every household is responsible for paying a fixed amount of money for each Federal fiscal year. For fiscal 2023, it is estimated that the Feds will collect $2.345 T in individual income taxes. We have about 160 million tax returns, so the individual/houshold obligation would be a little under $15,000. There is no rational justification to do anything other than that. Send every household an invoice and force them to pay it. Done.

A less fair tax system would be a FIXED PERCENTAGE of income tax. The Feds could collect the same amount of revenue from individual income taxes as they currently do with a fixed percentage of 13.6%. Again, this is less "fair" than the per capita tax, but it would be tolerable nevertheless.

The least fair tax system would be a GRADUATED INCOME TAX, where the higher earners not only pay more because they make more, but they actually pay a higher percentage of their higher incomes...the least fair tax system imaginable.

And these are the results of our graduated income tax, according to the Tax Foundation:

• The top 1 percent’s share of federal income taxes paid rose from 38.8 percent to 42.3 percent in 2022.
• The top 50 percent of all taxpayers paid 97.7 percent of all federal individual income taxes, while the bottom 50 percent paid the remaining 2.3 percent.

And yet we still have the phony socialist flacks telling "us" that The Rich are still not paying their "fair share." And that The Poor deserve a tax cut.

Balderdash.