A challenge for the "Tax the rich more" crowd.

[Winco]

Leftardz suck at math.

Are you saying that you yourself is great at math?
LOLLLLOLLLL

You can't spell, so there is that.

I doubt they can ever reach the level of understanding that causes any realization of the fact that they can't increase taxes on "the rich" without a resulting increase in the financial burdens of themself and everyone else.

No ONE making 10 Million per year is facing some 'financial burden' because they might pay 20% in taxes rather than the 10 % they currently pay.

resulting increase in the financial burdens of themself.........LOLLOLLLLOLLLLOLLLOOLOLLOLLLLOLLLLOLLLOOLOLLOLLLLOLLLLOLLLOOLOLLOLLLLOLLLLOLLLOOLOLLOLLLLOLLLLOLLLOOLOLLOLLLLOLLLLOLLLOOLOLLOLLLLOLLLLOLLLOOLOLLOLLLLOLLLLOLLLOOLOLLOLLLLOLLLLOLLLOOLOLLOLLLLOLLLLOLLLOOLOLLOLLLLOLLLLOLLLOOLOLLOLLLLOLLLLOLLLOOLOLLOLLLLOLLLLOLLLOOLOLLOLLLLOLLLLOLLLOOLOLLOLLLLOLLLLOLLLOOLOLLOLLLLOLLLLOLLLOOLOLLOLLLLOLLLLOLLLOOLOLLOLLLLOLLLLOLLLOO

 

[Winco]

Ponzi or not, it;s a pyramid scheme that relies on more suckers (forced with a threat of prison if they don't pay in) paying in at the bottom to feed the takers taking off the top.

Forced to pay into the system?

I paid into the system, and will start collecting in 18 months from now.
Sucks to be you.
So as of today, I'm in the same boat as you.

 

[IM2]

We owe $39T and pay $1.2T a year in interest on that debt, more than defense.
We need to start paying down that debt before the dollar crashes.

We have lost over 50 trillion since 1990 due to white racism alone. And that's not me guessing things or playing some kind of victim, it is a fact:

Ann Saphi, Racial inequities cost U.S. economy trillions, researchers find, Reuters, September 9, 2021,Racial inequities cost U.S. economy trillions, researchers find.

Buckman, Shelby R., Laura Y. Choi, Mary C. Daly, Lily M. Seitelman. 2021 “The Economic Gains from Equity,” Federal Reserve Bank of San Francisco Working Paper 2021-11. https://doi.org/10.24148/wp2021-11

So how about working to end that racism? That might just create enough taxpaying citizens to pay down the debt.

 

[Nostra]

We have lost over 50 trillion since 1990 due to white racism alone. And that's not me guessing things or playing some kind of victim, it is a fact:

Ann Saphi, Racial inequities cost U.S. economy trillions, researchers find, Reuters, September 9, 2021,Racial inequities cost U.S. economy trillions, researchers find.

Buckman, Shelby R., Laura Y. Choi, Mary C. Daly, Lily M. Seitelman. 2021 “The Economic Gains from Equity,” Federal Reserve Bank of San Francisco Working Paper 2021-11. https://doi.org/10.24148/wp2021-11

So how about working to end that racism? That might just create enough taxpaying citizens to pay down the debt.

STFU

Your victim act is tired.

Get a life, loser.

 

[forkup]

So you want to go back to when the rich paid less of the total tax burden.

Got it.

Check the tax rates in the links provided. Pretty sure that 77 percent is higher than 36 percent.

 

[Nostra]

Check the tax rates in the links provided. Pretty sure that 77 percent is higher than 36 percent.

You are clueless.

Interesting fact: Despite all the EVIL TAX CUTS FOR THE RICH since 1980, the rich keep paying more of the total tax burden.

Reagan tax cuts, Bush tax cuts, Trump tax cuts.....all result in the rich paying more taxes.

Weird.


View attachment 1225304

 

[forkup]

You are clueless.

I'm not the one who's thinks 36 is a.larger number than 77. But sure pretend you can't click amd read.

 

[Nostra]

I'm not the one who's thinks 36 is a.larger number than 77. But sure pretend you can't click amd read.

I never said it was. Those numbers have nothing to do with the OP, stupid.

Learn to read.

 

[forkup]

I'm not the one who's thinks 36 is a.larger number than 77. But sure pretend you can't click amd read.

Those numbers are the income tax rates in 68. Numbers I Inserted as a direct answer to your premise. 36 percent for the top 50, 70 percent for the top 10, 77 percent for the top 1.

See how that goes?

 

[Nostra]

Those numbers are the income tax rates in 68. Numbers Inserted as a direct answer to your premise. 36 for the top 50, 70 for the top 10, 77 for the top 1.

See how that goes?

What percentage of the total tax bill did the top 1% pay in 68? The top 5%? The top 10%

Until you have those numbers your numbers mean nothing.

GO!

 

[MisterBeale]

Classic Stossel: Tax the Rich?​

 

[forkup]

What percentage of the total tax bill did the top 1% pay in 68? The top 5%? The top 10%

Until you have those numbers your numbers mean nothing.

GO!

I see. First, you put your foot in your mouth claiming I said something when I said the exact opposite. Then you do it again by claiming what I said is irrelevant to your OP when it's actually a direct answer to it. So now you want to move the goalpost.

Here's an observation. Giving a detailed breakdown of the tax burden in 68 to someone who shows an unwillingness to engage in good faith is like trying to teach quantum physics to kindergardeners... an exercise in futility.

I've engaged your original premise, citing actual numbers and a reasoning why those numbers were chosen. That's a higher level of engagement someone like you deserves already.

 

[Nostra]

I see. First, you put your foot in your mouth claiming I said something when I said the exact opposite. Then you do it again by claiming what I said is irrelevant to your OP when it's actually a direct answer to it. So now you want to move the goalpost.

Here's an observation. Giving a detailed breakdown of the tax burden in 68 to someone who shows an unwillingness to engage in good faith is like trying to teach quantum physics to kindergardeners... an exercise in futility.

I've engaged your original premise, citing actual numbers and a reasoning why those numbers were chosen. That's a higher level of engagement someone like you deserves already.

From my OP, fill in your numbers from 1968 taxes.



The top 1% should pay _____% of the total income taxes.

The top 10% should pay _____% of the total income taxes.

The top 50 should pay _____% of the total income taxes.

 

[candycorn]

A flat tax, huh? Everyone pays the same rate on every dollar.

Got,it.

No.

What it means is this:

If you make a dollar by working, you get taxed X% on that dollar.
If you make a dollar by investment dividend, you get taxed X% on that dollar.
If you use a loan to cover personal expenes, that money is taxed as if it is income.
The same tax rate applies.

Your tax whiholding is the same on day one of the year as it is on day 365 of the year unless you hae a major life event that necessitates less being witheld. Currently, there re no social security taxes being paid by those who make over $135K a year (give or take).

 

[kyzr]

Are you that stupid? You admit tax cuts bring in more revenue, but claim that same more revenue results in the debt increasing.
It’s the higher spending that causes even more debt when revenue goes up, dumbass. It’s not that hard. Two components.

I admit that tax cuts and more borrowing bring in more revenue, not just tax cuts.
Agree that higher spending causes the debt.
We have never had a balanced budget with tax cuts, the BBB was coming close, but now we have a war to fund.

 

[ThunderKiss1965]

All we hear from Democrats regarding the debt is TAX THE EVIL RICH MORE.

They never say what is "rich", and how much of the total tax bill the evil "rich" need to pay for their utopia.

Here is your chance to provide some specifics.


How much? Give is some numbers:

The top 1% should pay _____% of the total income taxes.

The top 10% should pay _____% of the total income taxes.

The top 50 should pay _____% of the total income taxes.

https://www.usdebtclock.org/

The point is to tax the rich away so that the elite on the left can come after the ones they truly want to destroy. They loath the middle class.

 

[ThunderKiss1965]

No.

What it means is this:

If you make a dollar by working, you get taxed X% on that dollar.
If you make a dollar by investment dividend, you get taxed X% on that dollar.
If you use a loan to cover personal expenes, that money is taxed as if it is income.
The same tax rate applies.

Your tax whiholding is the same on day one of the year as it is on day 365 of the year unless you hae a major life event that necessitates less being witheld. Currently, there re no social security taxes being paid by those who make over $135K a year (give or take).

That sounded suspiciously like a flat tax until you fucked up and added a tax to money that has already been taxed.

Social Security is a Ponzi scheme.

 

[candycorn]

That sounded suspiciously like a flat tax until you fucked up and added a tax to money that has already been taxed.

Social Security is a Ponzi scheme.

Dividend income is already taxed?

 

[ThunderKiss1965]

Dividend income is already taxed?

It's a tax on money that has already been taxed. Get rid of that tax and the economy will explode.

 

[citygator]

All we hear from Democrats regarding the debt is TAX THE EVIL RICH MORE.

They never say what is "rich", and how much of the total tax bill the evil "rich" need to pay for their utopia.

Here is your chance to provide some specifics.


How much? Give is some numbers:

The top 1% should pay _____% of the total income taxes.

The top 10% should pay _____% of the total income taxes.

The top 50 should pay _____% of the total income taxes.

https://www.usdebtclock.org/

You're a dipshit which debating is of little use. However, for the initiated who accidently walk into this dumbass thread:

• Federal Revenue used to collect 20% of the GDP in taxes back when we were running a balanced budget.
• Today Federal Revenue is only collecting 17% of GDP. Why?
  • 0.5% loss of revenue because companies used to pay 35% income tax which was cut to 21%
  • 0.3% loss of revenue from top marginal rate cut from 39.6% to 35% and raising threshold
  • 0.5% loss of revenue from all other tax tier cuts
  • Remaining 1.5% of GDP tax gap is doubling the standard deduction and tons of new tax credits.

NOTE:

• Top 1% own a third of everything ~32%
• Bottom 50% own ~2% of everything

IF YOU DONT LIKE A TOP TIER INCREASE THEN;

• Tax corporations at 35%
• Tax capital gains at 35%
• Keep top tier tax at 37% but lower the threshold to $500k which is similar to 90's top tier (adjusted for inflation)
• All 3 would add over $300B a year in taxes or $3T over 10 years.

ANSWER:

• Bottom 50%: 0% of taxes is my proposal in line with what they own (today they pay 2% of taxes in line with their wealth )
• 50% to 90% income ranges: 20% of taxes (today they pay 25% of taxes in line with their wealth)
• Top 10% are underpaying and need to pay more taxes - they own about 40% of everything and are paying about 30% of taxes. They need to pay about 38% of total picking up 2% from bottom and 5% from the 50-90 range.
• TOP 1% are paying more than their share of what they own but the marginal impact of that on their lives is negligible so they should pay around 42% of the taxes. (today they pay around that 42%)

There you go.