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

[candycorn]

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

I buy a stock...the company pays me money for nothing but owning the stock. The money I was paid was not taxed.

It will be taxed when I file my income taxes but it was not previously taxed.

That money should, therefore, be taxed at the same rate as the rest of my income.

 

[ThunderKiss1965]

I buy a stock...the company pays me money for nothing but owning the stock. The money I was paid was not taxed.

It will be taxed when I file my income taxes but it was not previously taxed.

That money should, therefore, be taxed at the same rate as the rest of my income.

The money you used to buy the stock has already been taxed. That's how the Government works.

 

[candycorn]

The money you used to buy the stock has already been taxed.

True.

The income you’re receiving from your investments has not. Correct?

 

[Mr Natural]

Back in the day when America was great the rich faced a 90% tax bracket.

Just saying.

 

[kyzr]

Back in the day when America was great the rich faced a 90% tax bracket. Just saying.

I'm not in favor of a 90% top tax bracket, but with a $39T national debt, we need the wealthy to start paying it down, since they had generations to accumulate wealth (~$200T) while the working class barely made ends meet.

Here are two graphs proving my point.

 

[Hafar1014]

Yep. I have tried this a few times over the years. They all run and hide like scared school girls.

I pulled the OP from another thread in response to citygator saying all we need to do to solve the deficit/debt is tax the evil rich more. He ran and hid from the post several times.

Its not the rich that has wealth its the government that has even more that we cant get because it goes to fraud special interests and democrat supporters

 

[citygator]

Yep. I have tried this a few times over the years. They all run and hide like scared school girls.

I pulled the OP from another thread in response to citygator saying all we need to do to solve the deficit/debt is tax the evil rich more. He ran and hid from the post several times.

Please. I've answered this 1000 times. You are just a dimwit. What you want to do is say any dime a wealthy person pays in higher tax rate based on their tax heaven buried income is unfair when that is bullshit.

 

[citygator]

Its not the rich that has wealth its the government that has even more that we cant get because it goes to fraud special interests and democrat supporters

Youre a troll. Back that up with data or be branded a liar

 

[Mashmont]

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/

Well, that's just it. Democrats will often use raw numbers to describe how much in tax breaks the rich will get, but they never use them to describe how much the rich pay in taxes.

It's only logical that those who pay the most get the most discount, but it's never painted that way.

 

[Hafar1014]

Youre a troll. Back that up with data or be branded a liar

The government controls most of the wealth in America.
The U.S. federal government operates with a negative net position, with liabilities ($45.5 trillion) far exceeding its assets ($5.7 trillion), resulting in a net deficit position of approximately -$39.9 trillion as of late 2024. While holding relatively low physical assets compared to the private sector, the government controls roughly 17% of the total GDP through annual revenue collection.
Bureau of the Fiscal Service (.gov) +2
Key details on the federal financial position:

• Total Assets: $5.7 trillion, which includes $1.8 trillion in loans receivable and $1.3 trillion in property, plant, and equipment.
• Total Liabilities: $45.5 trillion, including $28.3 trillion in debt held by the public and $15.0 trillion in federal employee/veteran benefits.
• Revenue: The federal government collected roughly $5.0 trillion in tax revenue in FY2024, representing a significant portion of the economic activity.
• National Debt: Total federal debt, including debt held by the public and intra-governmental debt, exceeded $35.4 trillion as of September 30, 2024.
• Spending: The government spent $6.9 trillion in FY2024, or about 24% of GDP.
  Center on Budget and Policy Priorities +1

Add to that ll the land they own. The government is were all the wealth is not the few rich. Look at your paycheck how much does the government take out. 40%. Duh and you blame the rich. The rich are the ladder we can climb to success. The government bleeds us dry
Stupid

 

[Nostra]

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).

So everyone is taxed the same rate on income and investments.

Got it.

Withholding has zero to do with tax rates. You can have zero withheld from your taxes if you want.

 

[Mashmont]

Please. I've answered this 1000 times. You are just a dimwit. What you want to do is say any dime a wealthy person pays in higher tax rate based on their tax heaven buried income is unfair when that is bullshit.

1. What's fair. Everybody pays the same dollar amount. In my county, 20 years ago, any kid who wanted to pay rec sports, the fee was $65. Rich, poor--- didn't matter.

2. What's less fair, but not as bad. Every person pays the same percentage in taxes. You pay 10%. I pay 10%. The super rich pays 10%.

3. What's grossly unfair: The rich not only pays a higher dollar amount, but also a higher percentage. That's what we have now. We should never have allowed it.

4. What's beyond unfair that the leftwing radicals want: In addition to the inflated percentage for the rich, an asset tax. Now said to be a "one-time" tax, but you know it wouldn't stay that way.

Let's go back to #1. Everybody pays the same income tax. We just do with much less government. That's fair. Achievers and job-creators should never be punished in any way.

 

[Nostra]

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.

Ok stupid, go back to the drawing board and try to get your numbers right.

• 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.

REALITY: THE TOP 10% PAY 72% OF THE TAXES,

 

[Nostra]

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.

Prove it would add a measly $300B a year in taxes.

 

[kyzr]

1. What's fair. Everybody pays the same dollar amount. In my county, 20 years ago, any kid who wanted to pay rec sports, the fee was $65. Rich, poor--- didn't matter.
2. What's less fair, but not as bad. Every person pays the same percentage in taxes. You pay 10%. I pay 10%. The super rich pays 10%.
3. What's grossly unfair: The rich not only pays a higher dollar amount, but also a higher percentage. That's what we have now. We should never have allowed it.
4. What's beyond unfair that the leftwing radicals want: In addition to the inflated percentage for the rich, an asset tax. Now said to be a "one-time" tax, but you know it wouldn't stay that way.
Let's go back to #1. Everybody pays the same income tax. We just do with much less government. That's fair. Achievers and job-creators should never be punished in any way.

So the wealthy have $200T in wealth, the bottom half of incomes have nothing, and you want everyone to pay the same dollar amount? How f_cking stupid are you?

 

[Nostra]

I buy a stock...the company pays me money for nothing but owning the stock. The money I was paid was not taxed.

It will be taxed when I file my income taxes but it was not previously taxed.

That money should, therefore, be taxed at the same rate as the rest of my income.

The money you bought the stock with was already taxed, genius.

 

[Nostra]

Back in the day when America was great the rich faced a 90% tax bracket.

Just saying.

Tell us how much revenue per year came in from that 90% Mr Natural

 

[Nostra]

Please. I've answered this 1000 times. You are just a dimwit. What you want to do is say any dime a wealthy person pays in higher tax rate based on their tax heaven buried income is unfair when that is bullshit.

I never said anything about fair or unfair, dimwit. Taxes should be based on funding the very few things the Constitution allows the feds to do. It isn't some dumbass social engineering tool, or it isn't supposed to be. You clowns have bastardized it into a class warfare game.

What is your "fair share"? Define it with numbers.

Fill in the blanks.


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.

 

[Nostra]

Well, that's just it. Democrats will often use raw numbers to describe how much in tax breaks the rich will get, but they never use them to describe how much the rich pay in taxes.

It's only logical that those who pay the most get the most discount, but it's never painted that way.

No shit. You hear morons bleat TAX THE RICH AT 90% LIKE WE USED TO!!!!!!!!!!!!!!!!!!!!!!!

Virtually nobody paid 90% because of deductions and how they change their behavior.

It just sound good to PUNISH THE EVIL RICH to losers who can't accept they are losers.

 

[Mashmont]

So the wealthy have $200T in wealth, the bottom half of incomes have nothing, and you want everyone to pay the same dollar amount? How f_cking stupid are you?

View attachment 1225652

Same as they do in rec sports. Same amount for everybody. Everyone should pay the same nominal amount in taxes. That would mean a much smaller government. Achievers should not be punished for achieving. Don't like it? Quit playing scratch-offs and go out and start a business. The template for getting rich is widely available. Do it.

Right now, the top 1% pays 40% of the taxes. The bottom 50% pays 3% of the taxes. How on earth is that fair?