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

[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?

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.

Repub economics doesn’t even sound like it will work. It sounds like their sick of hiding their conniving greed.

 

[deanrd]

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.

First of all, everyone pays taxes.
If you buy something, you pay taxes on it.
And when you have 1% owning nearly the entire country, of course, you can't expect people with nothing to pay taxes.

The Christian way is to help people up, not stomp on them and hope they die suffering. That's the GOP way.

 

[ColonelAngus]

Corporations are people.

Walmart is a corporation that employs nearly 1.5million people in the USA.

It takes a special kind of dipshit to think that lowering the corporate tax rate will somehow hurt the “middle class” and “children” like Pelosi and Schumer would have one believe.

 

[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.

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.

Hey member of the country of corporate ville....not sure what you are trying to prove here?


I know you only support the ultra wealthy and confederacy, but what are you trying to say boy?

 

[nat4900]

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.

The whores must pay back their pimps???

 

[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

I'm still waiting (I may need to shave again before getting a response....tic-toc, tic-toc, tic-toc)

 

[Blake Allyn]

Corporations are people.

Walmart is a corporation that employs nearly 1.5million people in the USA.

It takes a special kind of dipshit to think that lowering the corporate tax rate will somehow hurt the “middle class” and “children” like Pelosi and Schumer would have one believe.

According to the Institute on Taxation and Economic Policy, AT&T enjoyed an effective tax rate of just 8 percent between 2008 and 2015, despite recording a profit in the United States each year, by exploiting tax breaks and loopholes. .)

Despite the enormous savings AT&T has realized, the company has been downsizing. Although it hires thousands of people a year, the company, by our analysis at the Institute for Policy Studies, reduced its total work force by nearly 80,000 jobs between 2008 and 2016, accounting for acquisitions and spinoffs each involving more than 2,000 workers.

Corporations are not people, they are corporations. Currently, US corporations are stashing their money all over the place to avoid paying taxes. A quick glance at the paradise papers will show that.

Cutting coporate taxes will merely help a small group of shareholders and their CEOS who will make millions in bonuses.

Walmart, is bad for the economy. If Walmart, were instead a shit ton of small buisnesses wealth would be equally distributed and more people would have more.


Look at like this:

A fictional town with 100 people. Is it better for one person to make 90% of that money or all 100 of them to make a roughly equal share. More people with equal income will mean more people can buy more.

Walmart is slave labor thats all. You are a lackey for the ultra rich.

 

[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.

Hey member of the country of corporate ville....not sure what you are trying to prove here?


I know you only support the ultra wealthy and confederacy, but what are you trying to say boy?

Which part about what I posted has you all twisted and confused Eduardo?
Lets recap...you spoke from your anus and said:
"Currently, the middle class pay far, far, far higher tax rates then the rich, who stash profits overseas and pay virtually nothing."

I showed you you have your head deep in your ass. What else can I teach you beaner?

 

[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.

Fake news

What's fake about it?

 

[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

What's fake about it?

Senate Majority Leader Mitch McConnell (R-Ky.) is walking back his claim that no middle class Americans will see a tax increase under the Senate GOP plan.

"I misspoke on that.“

 

[Ray From Cleveland]

Look at like this:

A fictional town with 100 people. Is it better for one person to make 90% of that money or all 100 of them to make a roughly equal share. More people with equal income will mean more people can buy more.

The United States is not your fictional town and there is no encapsulated money. The liberal philosophy is that the US is a bubble. Within this bubble, there is only so much money. That means when one in this bubble has too much, that's the reason the rest in the bubble have too little.

Money is endless in this country. There is no finite amount. You can make as much as you want or as little as you want, and it doesn't matter how much money the rich have.

Until I apply for a bank loan, and they tell me they would love to give me one, but the rich have all the money, then this liberal philosophy is totally flawed. Or if I ask my employer for a raise, and he tells me he would love to give me one, but the rich have all the money.

This has never happened and never will.

 

[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.

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.

Hey member of the country of corporate ville....not sure what you are trying to prove here?


I know you only support the ultra wealthy and confederacy, but what are you trying to say boy?

Which part about what I posted has you all twisted and confused Eduardo?
Lets recap...you spoke from your anus and said:
"Currently, the middle class pay far, far, far higher tax rates then the rich, who stash profits overseas and pay virtually nothing."

I showed you you have your head deep in your ass. What else can I teach you beaner?

Listen Corporal, they pay more of a share out of their salaries was my point, obviously the rich pay more in absolute terms because they make a shit ton more money.

When 1% of the country owns all of it of course they will pay more in absolute terms.

The point is a middle class worker making 75k a year is pay a third of their salary to uncle Sam. Mark Zuckleberg had 350 million dollar tax return a few years back,

Here are some facts for you:

• The richest 1% of Americans own 35% of the nation’s wealth. The bottom 80% own just 11% of the nation’s wealth.
• In the 1950s and 1960s, when the economy was booming, the wealthiest Americans paid a top income tax rate of 91%. Today, the top rate is 43.4%.
• The richest 1% pay an effective federal income tax rate of 24.7% in 2014; someone making an average of $75,000 is paying a 19.7% rate.
• The average federal income tax rate of the richest 400 Americans was just 20 percentin 2009.
• Taxing investment income at a much lower rate than salaries and wages are taxed loses $1.3 trillion over 10 years.
• 1,470 households reported income of more than $1 million in 2009 but paid zero federal income taxes on it.
• CEOs of major corporations earn nearly 300 times more than an average worker.
• 30 percent of income inequality is due to unfair taxes and budget cuts to services and benefits.
• The largest contributor to increasing income inequality has been changes in income from capital gains and dividends.

Now I know you are merely a patriot for the ultra wealthy. So you like this stuff!!

 

[deanrd]

Corporations are people.

Walmart is a corporation that employs nearly 1.5million people in the USA.

It takes a special kind of dipshit to think that lowering the corporate tax rate will somehow hurt the “middle class” and “children” like Pelosi and Schumer would have one believe.

So giving the owners more money will help the workers, uh, how?

 

[Blake Allyn]

Look at like this:

A fictional town with 100 people. Is it better for one person to make 90% of that money or all 100 of them to make a roughly equal share. More people with equal income will mean more people can buy more.

The United States is not your fictional town and there is no encapsulated money. The liberal philosophy is that the US is a bubble. Within this bubble, there is only so much money. That means when one in this bubble has too much, that's the reason the rest in the bubble have too little.

Money is endless in this country. There is no finite amount. You can make as much as you want or as little as you want, and it doesn't matter how much money the rich have.

Until I apply for a bank loan, and they tell me they would love to give me one, but the rich have all the money, then this liberal philosophy is totally flawed. Or if I ask my employer for a raise, and he tells me he would love to give me one, but the rich have all the money.

This has never happened and never will.

Lol

 

[deanrd]

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.

Hey member of the country of corporate ville....not sure what you are trying to prove here?


I know you only support the ultra wealthy and confederacy, but what are you trying to say boy?

Which part about what I posted has you all twisted and confused Eduardo?
Lets recap...you spoke from your anus and said:
"Currently, the middle class pay far, far, far higher tax rates then the rich, who stash profits overseas and pay virtually nothing."

I showed you you have your head deep in your ass. What else can I teach you beaner?

Listen Corporal, they pay more of a share out of their salaries was my point, obviously the rich pay more in absolute terms because they make a shit ton more money.

When 1% of the country owns all of it of course they will pay more in absolute terms.

The point is a middle class worker making 75k a year is pay a third of their salary to uncle Sam. Mark Zuckleberg had 350 million dollar tax return a few years back,

Here are some facts for you:

• The richest 1% of Americans own 35% of the nation’s wealth. The bottom 80% own just 11% of the nation’s wealth.
• In the 1950s and 1960s, when the economy was booming, the wealthiest Americans paid a top income tax rate of 91%. Today, the top rate is 43.4%.
• The richest 1% pay an effective federal income tax rate of 24.7% in 2014; someone making an average of $75,000 is paying a 19.7% rate.
• The average federal income tax rate of the richest 400 Americans was just 20 percentin 2009.
• Taxing investment income at a much lower rate than salaries and wages are taxed loses $1.3 trillion over 10 years.
• 1,470 households reported income of more than $1 million in 2009 but paid zero federal income taxes on it.
• CEOs of major corporations earn nearly 300 times more than an average worker.
• 30 percent of income inequality is due to unfair taxes and budget cuts to services and benefits.
• The largest contributor to increasing income inequality has been changes in income from capital gains and dividends.

Now I know you are merely a patriot for the ultra wealthy. So you like this stuff!!

The bottom 80% own just 11% of that nations wealth?

USMB Republicans think that is way, way, way too much. They should own less and pay more taxes.

 

[Aries]

Look at like this:

A fictional town with 100 people. Is it better for one person to make 90% of that money or all 100 of them to make a roughly equal share. More people with equal income will mean more people can buy more.

The United States is not your fictional town and there is no encapsulated money. The liberal philosophy is that the US is a bubble. Within this bubble, there is only so much money. That means when one in this bubble has too much, that's the reason the rest in the bubble have too little.

Money is endless in this country. There is no finite amount. You can make as much as you want or as little as you want, and it doesn't matter how much money the rich have.

Until I apply for a bank loan, and they tell me they would love to give me one, but the rich have all the money, then this liberal philosophy is totally flawed. Or if I ask my employer for a raise, and he tells me he would love to give me one, but the rich have all the money.

This has never happened and never will.

Lol

You hear that? The money’s endless. It grows on trees!

 

[Blake Allyn]

Corporations are people.

Walmart is a corporation that employs nearly 1.5million people in the USA.

It takes a special kind of dipshit to think that lowering the corporate tax rate will somehow hurt the “middle class” and “children” like Pelosi and Schumer would have one believe.

So giving the owners more money will help the workers, uh, how?

There is no point in even talking to him. The ultra rich in this country are slowly getting richer and richer over time, be deliberate policies. Corporations are doing great right now with record profits. Yet the wealth stays accumulated at the very top.

These guys are literally in their own world.

 

[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.

Fake news

What's fake about it?

Senate Majority Leader Mitch McConnell (R-Ky.) is walking back his claim that no middle class Americans will see a tax increase under the Senate GOP plan.

"I misspoke on that.“

That's because of the way middle-class was defined.

They consider middle-class anybody not in poverty right up to lower six figure salaries. That means if you earn 180K a year, by their standards, you are middle-class.

I don't know about where you live, but if I make 150K a year, I don't consider myself middle-class in any way. Perhaps in liberal shit holes like California or the New England states where inflation is so ridiculous a pack of cigarettes cost you fifteen dollars, but not most of America.

The lower percentage of this group will see a tax reduction. The other 45% of the upper part of this group will see a tax increase. This is how they came up with the liberal BS that the middle-class will be paying for this tax break.

 

[Ray From Cleveland]

Look at like this:

A fictional town with 100 people. Is it better for one person to make 90% of that money or all 100 of them to make a roughly equal share. More people with equal income will mean more people can buy more.

The United States is not your fictional town and there is no encapsulated money. The liberal philosophy is that the US is a bubble. Within this bubble, there is only so much money. That means when one in this bubble has too much, that's the reason the rest in the bubble have too little.

Money is endless in this country. There is no finite amount. You can make as much as you want or as little as you want, and it doesn't matter how much money the rich have.

Until I apply for a bank loan, and they tell me they would love to give me one, but the rich have all the money, then this liberal philosophy is totally flawed. Or if I ask my employer for a raise, and he tells me he would love to give me one, but the rich have all the money.

This has never happened and never will.

Lol

You hear that? The money’s endless. It grows on trees!

It's not? Then show me one situation......any situation where somebody was denied money because there wasn't enough to go around because the rich have it all.

 

[Ray From Cleveland]

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.

Hey member of the country of corporate ville....not sure what you are trying to prove here?


I know you only support the ultra wealthy and confederacy, but what are you trying to say boy?

Which part about what I posted has you all twisted and confused Eduardo?
Lets recap...you spoke from your anus and said:
"Currently, the middle class pay far, far, far higher tax rates then the rich, who stash profits overseas and pay virtually nothing."

I showed you you have your head deep in your ass. What else can I teach you beaner?

Listen Corporal, they pay more of a share out of their salaries was my point, obviously the rich pay more in absolute terms because they make a shit ton more money.

When 1% of the country owns all of it of course they will pay more in absolute terms.

The point is a middle class worker making 75k a year is pay a third of their salary to uncle Sam. Mark Zuckleberg had 350 million dollar tax return a few years back,

Here are some facts for you:

• The richest 1% of Americans own 35% of the nation’s wealth. The bottom 80% own just 11% of the nation’s wealth.
• In the 1950s and 1960s, when the economy was booming, the wealthiest Americans paid a top income tax rate of 91%. Today, the top rate is 43.4%.
• The richest 1% pay an effective federal income tax rate of 24.7% in 2014; someone making an average of $75,000 is paying a 19.7% rate.
• The average federal income tax rate of the richest 400 Americans was just 20 percentin 2009.
• Taxing investment income at a much lower rate than salaries and wages are taxed loses $1.3 trillion over 10 years.
• 1,470 households reported income of more than $1 million in 2009 but paid zero federal income taxes on it.
• CEOs of major corporations earn nearly 300 times more than an average worker.
• 30 percent of income inequality is due to unfair taxes and budget cuts to services and benefits.
• The largest contributor to increasing income inequality has been changes in income from capital gains and dividends.

Now I know you are merely a patriot for the ultra wealthy. So you like this stuff!!

The bottom 80% own just 11% of that nations wealth?

USMB Republicans think that is way, way, way too much. They should own less and pay more taxes.

Top 40% paying ALL income taxes, and leaving a tip