What's the reason the GOP gives for needing tax cuts for billionaires and corporations?

[deanrd]

They say it's to kick start the economy and create jobs.

Looking at the current economy and the number of available jobs, how exactly does that work?

 

[RDD_1210]

They say it's to kick start the economy and create jobs.

Looking at the current economy and the number of available jobs, how exactly does that work?

THE GOP create policy that "sounds like it should work" but in reality doesn't work.

As long as their paid sponsors are taken care of, that's all that matters. Then they can throw some red meat to their base about muslims or Obama taking their guns to keep them nice and distracted while the fuck them over in their wallet.

 

[easyt65]

They say it's to kick start the economy and create jobs.

Ever gotten a job from a poor person? Ever been offered a job from a homeless person?


On a serious note, though, IMO a Flat / Fair Tax is the way to go. Everyone pays their fair, equal share. Libs don't get to unfairly tax the rich MORE simply because they have more, and everyone pays. Huge corporations and million/billionaires pay an equal percentage.

 

[Mikeoxenormous]

They say it's to kick start the economy and create jobs.

Looking at the current economy and the number of available jobs, how exactly does that work?

Just to piss the fuck out of you.....You don't work so don't get a tax cut, you worthless welfare queers...

 

[danielpalos]

They say it's to kick start the economy and create jobs.

Looking at the current economy and the number of available jobs, how exactly does that work?

First, the rich get to get richer faster, and then it trickles down. Any questions?

 

[deanrd]

Notice, no right winger really wants to talk about these "tax cuts".

Over 6 million unfilled jobs? What is the GOP's plan to fill those jobs?

Education? Nope.

Job Training? Nope.

Veterans retraining? Nope.

Their answer is to cut taxes on corporations who have so much money, they can't figure out how to invest or spend it. So they give it away to investors, using it for buy backs so fewer own the company.

 

[LeftofLeft]

They say it's to kick start the economy and create jobs.

Looking at the current economy and the number of available jobs, how exactly does that work?

We just tried your way the last 8 years. The same wealthy and corporations you people like to demonize kept their money on the sideline or overseas to avoid your egregious taxes. The result: sluggish / anemic GDP growth.

 

[nat4900]

We just tried your way the last 8 years. The same wealthy and corporations you people like to demonize kept their money on the sideline or overseas to avoid your egregious taxes. The result: sluggish / anemic GDP growth.

Name 10 large corporations that paid the FULL amount of the tax......

Go on.......we'll wait.......................LOL

 

[jillian]

They say it's to kick start the economy and create jobs.

Looking at the current economy and the number of available jobs, how exactly does that work?

it's to pay off their donor class

 

[nat4900]

They say it's to kick start the economy and create jobs.

Looking at the current economy and the number of available jobs, how exactly does that work?

bear in mind that congressional whores MUST pay back their corporate pimps

 

[Blake Allyn]

They say it's to kick start the economy and create jobs.

Ever gotten a job from a poor person? Ever been offered a job from a homeless person?


On a serious note, though, IMO a Flat / Fair Tax is the way to go. Everyone pays their fair, equal share. Libs don't get to unfairly tax the rich MORE simply because they have more, and everyone pays. Huge corporations and million/billionaires pay an equal percentage.

ANother moronic statement from an absolute moron.

Currently, the middle class pay far, far, far higher tax rates then the rich, who stash profits overseas and pay virtually nothing.

Huge corps and millionaires pay jack shit right now. Further, if you want to grow the economy you give money to the poor and middle class who will spend it. The wealthy dont.

The tax plan is simply a resdistribution of wealth from the middle class to the rich. Eventually, they will cut social programs to pay for the increased debt.

The rich fund campaigns and pay for lobbyists and in return get legislation passed their way. The middle class are divided by getting them to focus on moronic issues like national anthems while the rich rob them blind.

Any other evaluation is idiotic.

 

[Aries]

They say it's to kick start the economy and create jobs.

Looking at the current economy and the number of available jobs, how exactly does that work?

They say it will “trickle down”
But I think they mean piss, not money.

 

[usmbguest5318]

They say it's to kick start the economy and create jobs.

Looking at the current economy and the number of available jobs, how exactly does that work?

According to WH claims, the economy is ticking along at the desired rate of 3%-4% annual GDP growth.

• Donald Trump wants 4% GDP growth. 3% will do
  
• Trump's hope for 3% growth no longer looks so far-fetched

Insofar as that objective has been reached without any tax cuts for billionaires and multibillion dollar corporations, a tax cut was never needed to begin with in order to achieve that goal. Thus, one has to wonder why a tax cut that disfavors America's lowest income citizens needs to be enacted insofar as the aim of the tax cut has already been met.

 

[Aldo Raine]

They say it's to kick start the economy and create jobs.

Ever gotten a job from a poor person? Ever been offered a job from a homeless person?


On a serious note, though, IMO a Flat / Fair Tax is the way to go. Everyone pays their fair, equal share. Libs don't get to unfairly tax the rich MORE simply because they have more, and everyone pays. Huge corporations and million/billionaires pay an equal percentage.

Agreed, equal rate with no expenditures for anyone!

 

[basquebromance]

Expressing your policy positions is dangerous, because you can lose support. That's why so many politicians talk a lot without really saying anything. It's also how we get so much corruption in DC. We dont support honesty. We support ambiguity.

 

[Ray From Cleveland]

They say it's to kick start the economy and create jobs.

Looking at the current economy and the number of available jobs, how exactly does that work?

According to WH claims, the economy is ticking along at the desired rate of 3%-4% annual GDP growth.

• Donald Trump wants 4% GDP growth. 3% will do
  
• Trump's hope for 3% growth no longer looks so far-fetched

Insofar as that objective has been reached without any tax cuts for billionaires and multibillion dollar corporations, a tax cut was never needed to begin with in order to achieve that goal. Thus, one has to wonder why a tax cut that disfavors America's lowest income citizens needs to be enacted insofar as the aim of the tax cut has already been met.

How does a tax cut on the wealthy have anything to do with the "lowest income citizens" who pay no federal income tax at all? This tax plan DOES tax upper brackets and DOES give middle and upper middle-income tax
payers lower rates.

 

[Aries]

They say it's to kick start the economy and create jobs.

Ever gotten a job from a poor person? Ever been offered a job from a homeless person?


On a serious note, though, IMO a Flat / Fair Tax is the way to go. Everyone pays their fair, equal share. Libs don't get to unfairly tax the rich MORE simply because they have more, and everyone pays. Huge corporations and million/billionaires pay an equal percentage.

ANother moronic statement from an absolute moron.

Currently, the middle class pay far, far, far higher tax rates then the rich, who stash profits overseas and pay virtually nothing.

Huge corps and millionaires pay jack shit right now. Further, if you want to grow the economy you give money to the poor and middle class who will spend it. The wealthy dont.

The tax plan is simply a resdistribution of wealth from the middle class to the rich. Eventually, they will cut social programs to pay for the increased debt.

The rich fund campaigns and pay for lobbyists and in return get legislation passed their way. The middle class are divided by getting them to focus on moronic issues like national anthems while the rich rob them blind.

Any other evaluation is idiotic.

They’ve been saying for decades - give tax breaks to the rich, they’ll reinvest in jobs and the economy will boom. Only problem with that logic is that the wealthy reinvest in things like... er, golden toilet seats.

 

[Aries]

They say it's to kick start the economy and create jobs.

Looking at the current economy and the number of available jobs, how exactly does that work?

According to WH claims, the economy is ticking along at the desired rate of 3%-4% annual GDP growth.

• Donald Trump wants 4% GDP growth. 3% will do
  
• Trump's hope for 3% growth no longer looks so far-fetched

Insofar as that objective has been reached without any tax cuts for billionaires and multibillion dollar corporations, a tax cut was never needed to begin with in order to achieve that goal. Thus, one has to wonder why a tax cut that disfavors America's lowest income citizens needs to be enacted insofar as the aim of the tax cut has already been met.

How does a tax cut on the wealthy have anything to do with the "lowest income citizens" who pay no federal income tax at all? This tax plan DOES tax upper brackets and DOES give middle and upper middle-income tax
payers lower rates.

Fake news

 

[BrokeLoser]

They say it's to kick start the economy and create jobs.

Ever gotten a job from a poor person? Ever been offered a job from a homeless person?


On a serious note, though, IMO a Flat / Fair Tax is the way to go. Everyone pays their fair, equal share. Libs don't get to unfairly tax the rich MORE simply because they have more, and everyone pays. Huge corporations and million/billionaires pay an equal percentage.

ANother moronic statement from an absolute moron.

Currently, the middle class pay far, far, far higher tax rates then the rich, who stash profits overseas and pay virtually nothing.

Huge corps and millionaires pay jack shit right now. Further, if you want to grow the economy you give money to the poor and middle class who will spend it. The wealthy dont.

The tax plan is simply a resdistribution of wealth from the middle class to the rich. Eventually, they will cut social programs to pay for the increased debt.

The rich fund campaigns and pay for lobbyists and in return get legislation passed their way. The middle class are divided by getting them to focus on moronic issues like national anthems while the rich rob them blind.

Any other evaluation is idiotic.

You sir, not named "Blake Allyn" and probably named Alejandro Fernandez are an absolute fool.
The "rich" pay your way and the way for all your filthy bottom feeding Peruvian buddies.

45% of Americans pay no federal income tax
45% of Americans pay no federal income tax
On average, those in the bottom 40% of the income spectrum end up getting money from the government. Meanwhile, the richest 20% of Americans, by far, pay the most in income taxes, forking over nearly 87% of all the income tax collected by Uncle Sam.

Read: Compared to most countries, we’re undertaxed — honest

Rich people pay nearly 87% of all federal individual income tax in America

Income level Share of total federal
individual income tax paid Average income tax bill
per person
Lowest 20% -2.2% -$643
Second lowest 20% -1.7% -$621
Middle income 4.2% $1,743
Second richest 20% 12.9% $6,285
Richest 20% 86.8% $50,176
Source: Tax Policy Center

The top 1% of Americans, who have an average income of more than $2.1 million, pay 43.6% of all the federal individual income tax in the U.S.; the top 0.1% — just 115,000 households, whose average income is more than $9.4 million — pay more than 20% of it.

When it comes to all federal taxes — individual income, payroll, excise, corporate income and estate taxes — the distributions of who pays what is more spread out. This is partially because nearly everyone pays excise taxes, which includes taxes on gasoline, alcohol and cigarettes.

Rich people pay 69% of all federal taxes in America

Income level Share of total federal taxes paid
Lowest 20% 0.8%
Second lowest 20% 3.4%
Middle income 9.2%
Second richest 20% 17.5%
Richest 20% 69%


What is My Tax Bracket?
Updated for Tax Year 2017

OVERVIEW

The term "tax bracket" refers to the highest tax rate charged on your income. Under the federal income tax system, different rates apply to different portions of your income. So people in, say, the 25 percent tax bracket don't actually pay 25 percent of their income in taxes; rather, the last dollar they earn is taxed at 25 percent.

Progressive system, marginal rates
The federal income tax is progressive, meaning that tax rates increase as your taxable income goes up. As of publication, for example, income was taxed at seven rates: 10 percent, 15 percent, 25 percent, 28 percent, 33 percent, 35 percent and 39.6 percent. These are marginal rates, meaning that each rate applies only to a specific slice of income rather than to your total income. The rate that applies to the top slice of your income is your tax bracket.

A simplified example of brackets
For a simple example of how progressive taxation works, say the government has three marginal rates, set up like this:

• 10 percent: $0 to $20,000
• 20 percent: $20,001 to $50,000
• 30 percent: $50,001 and above

Now say your taxable income is $75,000, which puts you in the 30 percent bracket. The first $20,000 of that would be taxed at 10 percent, or $2,000. The next $30,000 would be taxed at 20 percent, or $6,000. The final $25,000 of your income is taxed at 30 percent, or $7,500. Your total tax: $15,500. Even though you're in the 30 percent bracket, you actually pay only about 20.7 percent of your income in taxes.

Taxable income is what matters
Tax brackets apply only to your taxable income—that is, your total income minus all your adjustments, exemptions and deductions. For example, a married couple with two dependent children could reduce their taxable income by $29,800 in 2017 just by taking the personal exemptions and standard deduction to which all taxpayers are entitled, as of publication. This alone might be enough to drop the family into a lower tax bracket.

Adjusting tax bracket parameters
Congress decides how many tax brackets there are and what the rates will be for each bracket. It's the Internal Revenue Service's job to adjust income thresholds to keep pace with inflation. For example, in the 2017 tax year, for a married couple filing a joint return, the 10 percent bracket applied to the first $18,650 in taxable income. The 15 percent bracket went up to $75,900. The 25 percent bracket went up to $153,100, and so on. The top rate, 39.6 percent, applied when taxable income topped $470,7000. For single taxpayers, the thresholds were lower. The IRS announces the tax brackets for each year before that year begins.

 

[deanrd]

They say it's to kick start the economy and create jobs.

Looking at the current economy and the number of available jobs, how exactly does that work?

We just tried your way the last 8 years. The same wealthy and corporations you people like to demonize kept their money on the sideline or overseas to avoid your egregious taxes. The result: sluggish / anemic GDP growth.

Are you crazy.

Obama started with a failed economy. The DOW at 7,000.
Unemployment to 10%.

He handed Trump unemployment at less than 5%.
the DOW over 20,000
Wages up.
6.2 million unfilled jobs

And what is it Trump is going to do? Bring jobs back. You can't possibly believe such nonsense. 87% of lost manufacturing jobs were automated. They didn't go overseas. You get that, right? Come on, tell us you get it. AUTOMATED! They are gone.

It's education and job training we need. Not fuking fantasy.