“I Cannot Afford To Live”: Americans Get Emotional As The U.S. Economy Goes Off The Rails

[sealybobo]

/---/ Keep spreading the lie, sealybobo. It's one thing you are good at.
1. The top 1 percent of taxpayers paid a 25.4 percent average individual income tax rate, which is more than seven times higher than taxpayers in the bottom 50 percent (3.4 percent).
2. The top 1 percent paid a greater share of individual income taxes (40.1percent) than the bottom 90 percent combined (28.6 percent).

https://files.taxfoundation.org/20210202124940/Summary-of-the-Latest-Federal-Income-Tax-Data-2021-Update.pdf

It's not enough. Also, you're lying. What about the loopholes and illegality going on?

 

[Cellblock2429]

It's not enough. Also, you're lying. What about the loopholes and illegality going on?

/----/ If they are in the tax law (written mostly be democRATs) they aren't loopholes. Now if it's illegal, then the IRS needs to get them to pay up. On this we agree.

 

[Frankenstein]

you are aware the POTUS does not write the tax code or set tax rates, right?

Correct but he directs his congress critters, why no tax hike like he said he would, and didn't.

 

[sealybobo]

/----/ If they are in the tax law (written mostly be democRATs) they aren't loopholes. Now if it's illegal, then the IRS needs to get them to pay up. On this we agree.

Stop it bootlicker. They aren't paying their fair share. You are a bootlicker.

Thousands of millionaires haven't filed tax returns for years, IRS says. Thousands of high-income earners have not filed tax returns for several years, but the cash-strapped Internal Revenue Service did nothing to get them to pay what they owe. That is now changing, the tax agency announced Thursday.Feb 29, 2024

 

[Markle]

It's not enough. Also, you're lying. What about the loopholes and illegality going on?

What loopholes and illegality are going on? Please be specific.

 

[Foxfyre]

“I Cannot Afford To Live”: ​

Americans Get Emotional As The U.S. Economy Goes Off The Rails​

"I Cannot Afford To Live": Americans Get Emotional As The U.S. Economy Goes Off The Rails

As we approach what is likely to be the most chaotic presidential election in U.S. history, trouble signs are starting to erupt for the U.S. economy. In fact, CNN is actually admitting that "the long-predicted

theeconomiccollapseblog.com

10 Apr 2024 ~~ By Michael Snyder

As we approach what is likely to be the most chaotic presidential election in U.S. history, trouble signs are starting to erupt for the U.S. economy. In fact, CNN is actually admitting that “the long-predicted storm clouds in the economy may actually be forming”. I can’t remember the last time that I saw a CNN article with a headline like that. But at this point, it is becoming extremely difficult for the mainstream media to avoid the truth. Inflation is getting worse at the same time that many key sectors of our economy are slowing down. If you thought that the last couple of years were rough for the economy, just wait until you see what is coming next. Tremendous turmoil is on the horizon, and the American people are becoming increasingly emotional about our rapidly growing economic problems.
On Wednesday, we learned that prices jumped even more than expected during the month of March…
~Snip~
For example, Fox Business is reporting that the cost of energy “is up 36.9% from where it was in Jan. 2021″…

Tuesday’s inflation numbers punctuate what has been a dreadful three years for energy consumers. The overall cost of energy in March is up 36.9% from where it was in Jan. 2021, according to the Department of Labor’s Bureau of Labor Statistics.​

Of course energy prices are going to go a lot higher than they are right now.
~Snip~
Just like me, so many of you can feel what is coming.
A tipping point has arrived, and the outlook for the months ahead is very bleak.
The U.S. economy is going off the rails, and the worse things get the more frustrated the American people are going to become.


Commentary:
Not according to our 46th president and his administration. We are doing so well, we don’t have to worry about the cost of illegals or of forgiving student loans, and we can freely help Ukraine with many hundreds of billions of dollars for something that could have been handled with a peace treaty.
Everything is fine!
Don't worry about housing, food, or fuel for heating, cooking or transportation. Our president has it covered.
Yes, The Rats in Washington have it covered. They tell us they won’t cut Social Security benefits, but they have no problem creating high inflation, or fudging the numbers to limit Social Security COLA’s for retirees.
The next round of inflation is going to be absolutely brutal. Many already on the brink who never would've considered crime will start to ponder it.
America's largely service sector economy will take a massive hit as what little discretionary spending still exists evaporates and near-minimum wage workers can barely afford to commute.
What happens when rural youth begin behaving like urban youth?
There is a level of hardship at which this starts to happen en-masse.

Millions of Americans have maxed out credit cards just keeping a roof over their heads and food on the table. For every product that goes down a bit in price, three more are higher at the grocery store, at Walmart, at Target, everywhere. Transportation costs are again steadily escalating and that pushes costs higher on everything we buy.

Democrat excuses and assigned talking points can go only so far in convincing people--they now convince only the most partisan and/or gullible--that the Biden administration has been good for America and Americans.

If we can elect Trump and a GOP majority in Congress in November, one of the first initiatives will be to make the Trump tax reforms permanent. (Biden has pledged to end them.) That alone will provide some stability for business to be able to better plan ahead, keep more money in more people's pockets, will provide greater security for everybody's IRAs and 401ks, and should soon start bringing down some prices. Removing the insane regulations the Biden Administration has put on commerce and industry as well as the threats they have made will help a great deal more especially in cost of fuel and transportation that should also reduce prices on many if not most things we use. It won't happen overnight, but we should see significant improvement within a year or less.

 

[sealybobo]

What loopholes and illegality are going on? Please be specific.

What are you stupid?

Thousands of millionaires haven't filed tax returns for years, IRS says. Thousands of high-income earners have not filed tax returns for several years, but the cash-strapped Internal Revenue Service did nothing to get them to pay what they owe. That is now changing, the tax agency announced Thursday.Feb 29, 2024

 

[sealybobo]

What loopholes and illegality are going on? Please be specific.

Hey bootlicker

Tax evasion by millionaires and billionaires tops $150 billion a year, says IRS chief​

PUBLISHED THU, FEB 22 20249:12 AM ESTUPDATED FRI, FEB 23 202412:31 PM EST

 

[Cellblock2429]

Stop it bootlicker. They aren't paying their fair share. You are a bootlicker.

Thousands of millionaires haven't filed tax returns for years, IRS says. Thousands of high-income earners have not filed tax returns for several years, but the cash-strapped Internal Revenue Service did nothing to get them to pay what they owe. That is now changing, the tax agency announced Thursday.Feb 29, 2024

/—-/ I don’t excuse anyone that doesn’t file. Why do you accuse me of that? Oh, I get it, your life is filled with class envy and you lash out at successful people.

 

[Markle]

Stop it bootlicker. They aren't paying their fair share. You are a bootlicker.

Thousands of millionaires haven't filed tax returns for years, IRS says. Thousands of high-income earners have not filed tax returns for several years, but the cash-strapped Internal Revenue Service did nothing to get them to pay what they owe. That is now changing, the tax agency announced Thursday.Feb 29, 2024

So what? 25,000 supposedly had over $1 million, with about 100,000 having incomes between $400,000 and $1 million. Collecting $1 million from each (which is highly unlikely to be that high) would collect about $125 billion. That is a lot of money, but even you must admit it is a drop in the bucket.

How is this NOT the fair share of the wealth's income?

 

[sealybobo]

/—-/ I don’t excuse anyone that doesn’t file. Why do you accuse me of that? Oh, I get it, your life is filled with class envy and you lash out at successful people.

Are you the one who started this thread complaining that you can no longer afford to live in America? Clearly you aren't rich.

Household wealth swelled at a record pace during the pandemic. From 2019 to 2022, the median net worth of American families jumped 37% to $192,900, after adjusting for inflation. It’s the largest increase ever recorded by the federal Survey of Consumer Finances, released last fall. Surging home values and rising stock ownership fed the surge.

I'm going to repeat the most important part. after adjusting for inflation.

The system is rigged. You and I both know it. You just can't seem to get yourself to blame the people who rigged it. Because you are a Boot Licker!

 

[sealybobo]

What loopholes and illegality are going on? Please be specific.

Yes, the wealth of the rich has skyrocketed since 1978. From 1978 to 2020, CEO compensation increased by 1,322%, which is much higher than the S&P stock market's 817% growth and the 0.1% earnings growth of 341% between 1978 and 2019. In contrast, the typical worker's compensation only increased by 18% from 1978 to 2020.

 

[sealybobo]

What loopholes and illegality are going on? Please be specific.

Report details fast-growing CEO tax loophole giving multi-millionaires huge retirement advantages​

A new report shows that a group that least needs to shelter its retirement savings — multi-million-dollar CEOs — enjoys far more generous tax benefits than the average working stiff. And that assumes the working stiff even makes enough to set some money aside in a 401(k).

 

[Markle]

Are you the one who started this thread complaining that you can no longer afford to live in America? Clearly you aren't rich.

Household wealth swelled at a record pace during the pandemic. From 2019 to 2022, the median net worth of American families jumped 37% to $192,900, after adjusting for inflation. It’s the largest increase ever recorded by the federal Survey of Consumer Finances, released last fall. Surging home values and rising stock ownership fed the surge.

I'm going to repeat the most important part. after adjusting for inflation.

The system is rigged. You and I both know it. You just can't seem to get yourself to blame the people who rigged it. Because you are a Boot Licker!

Gee, you mistakenly left out a few details from your post.

"U.S. household wealth ballooned at a record pace during the pandemic as the government doled out unprecedented aid, Americans hunkered down amid widespread lockdowns and stock and home values soared, according to a Federal Reserve survey.

From 2019 to 2022, the median net worth of U.S. families surged 37% to $192,900, adjusted for inflation – the largest rise in the history of the Fed's Survey of Consumer Finances, which is conducted every three years.

Median income, meanwhile, grew a relatively modest 3%, and debt was fairly stable, the Fed said in the report."

 

[Cellblock2429]

Are you the one who started this thread complaining that you can no longer afford to live in America? Clearly you aren't rich.

Household wealth swelled at a record pace during the pandemic. From 2019 to 2022, the median net worth of American families jumped 37% to $192,900, after adjusting for inflation. It’s the largest increase ever recorded by the federal Survey of Consumer Finances, released last fall. Surging home values and rising stock ownership fed the surge.

I'm going to repeat the most important part. after adjusting for inflation.

The system is rigged. You and I both know it. You just can't seem to get yourself to blame the people who rigged it. Because you are a Boot Licker!

/——/ Nope. It was started by doc7505
I have a comfortable life and no debt.

 

[Markle]

Yes, the wealth of the rich has skyrocketed since 1978. From 1978 to 2020, CEO compensation increased by 1,322%, which is much higher than the S&P stock market's 817% growth and the 0.1% earnings growth of 341% between 1978 and 2019. In contrast, the typical worker's compensation only increased by 18% from 1978 to 2020.

 

[sealybobo]

Gee, you mistakenly left out a few details from your post.

"U.S. household wealth ballooned at a record pace during the pandemic as the government doled out unprecedented aid, Americans hunkered down amid widespread lockdowns and stock and home values soared, according to a Federal Reserve survey.

From 2019 to 2022, the median net worth of U.S. families surged 37% to $192,900, adjusted for inflation – the largest rise in the history of the Fed's Survey of Consumer Finances, which is conducted every three years.

Median income, meanwhile, grew a relatively modest 3%, and debt was fairly stable, the Fed said in the report."

You think the rich got rich on government aid? WRONG! They raised their prices and gouged you even after supply chain problems went away. They never lowered the prices after the pandemic was over. Why? Because you keep buying. Why lower the prices?

Oh, and they also purchased your home during the Bush Great Recession and jacked up your rent. This is a perfect example of how they got richer during the pandemic and you didn't.

 

[Cellblock2429]

/—-/ That’s perfect. I took a screenshot and saved it for future use. Thank you.

 

[sealybobo]

/——/ Nope. It was started by doc7505
I have a comfortable life and no debt.

What's funny is you and Bush ran all our best paying blue collar jobs out of the country because you wanted to break the unions. They made too much. So you and Bush are why blue collar people are struggling today. And now you claim you and Trump want to bring those jobs back. When we don't have the workers to fill those jobs. Especially what you are going to pay.

 

[Frankenstein]

What's funny is you and Bush ran all our best paying blue collar jobs out of the country because you wanted to break the unions. They made too much. So you and Bush are why blue collar people are struggling today. And now you claim you and Trump want to bring those jobs back. When we don't have the workers to fill those jobs. Especially what you are going to pay.

Nope unions wanting to much compensation did it, and over taxation on large employers!