IRS data proves Trump tax cuts benefited middle, working-class Americans most

[AntonToo]

Obama orchestrated a massive transfer of wealth to the 1 percent

When people use the term Great Recession, they are playing into the charade laid out by Federal Reserve and the Treasury Department. The years 2008 through 2015 should be known as the Great Fleecin…

nypost.com

Obama admits 95% of income gains gone to top 1%

President Obama agrees with recent study that found the economic recovery since the financial crisis has overwhelming favored the richest Americans, with 95% of the income gains from 2009 to 20012 going to the top 1% of the earning population

money.cnn.com

Now go ahead and spin it.

Is this a joke? Articles from 2013 and 2016 as proof that biggest wealth transfers happened under Obama?

1. I'll let you in on a little secret - there is a presidency and 6-9 years of data you managed to miss.

2. The rich hold a lot of stocks and lost a lot of money in Great Recession (DOW was down to 6800) and then gained it back in recovery (DOW 18000at end of Obama's terms), which on cherry picked partisan platter can be made to look like massive explosion of wealth relative to much smaller swinging low-middle class income.

Will you self-correct?

 

[Nostra]

Is this a joke? Articles from 2013 and 2016 as proof that biggest wealth transfers happened under Obama?

1. I'll let you in on a little secret - there is a presidency and 6-9 years of data you managed to miss.

2. The rich hold a lot of stocks and lost a lot of money in Great Recession (DOW was down to 6800) and then gained it back in recovery (DOW 18000at end of Obama's terms), which on cherry picked partisan platter can be made to look like massive explosion of wealth relative to much smaller swinging low-middle class income.

Will you self-correct?

Wow. That spin really sucked sweaty donkey balls.

 

[Papageorgio]

Is this a joke? Articles from 2013 and 2016 as proof that biggest wealth transfers happened under Obama?

1. I'll let you in on a little secret - there is a presidency and 6-9 years of data you managed to miss.

2. The rich hold a lot of stocks and lost a lot of money in Great Recession (DOW was down to 6800) and then gained it back in recovery (DOW 18000at end of Obama's terms), which on cherry picked partisan platter can be made to look like massive explosion of wealth relative to much smaller swinging low-middle class income.

Will you self-correct?

Thanks for the predicted spin.

 

[AntonToo]

Thanks for the predicted spin.

Yep, when you post half-backed rhetoric that’s NOT spin, but when I explain to you why it’s silly you call that spin.

Bravo sir, well played.

 

[Markle]

Yes it was. But as I said above, the true worth of a leader is not in how they handle the good times, but the bad. Trump cruised through his first 3 years with nary a major event. The economy was on cruise control, all he had to to was not fuck things up.

That's just goofy. Why even bother throwing up such nonsense?

 

[Markle]

Wages went up under every President. They went up less for the working people, as a percentage of income, than they did under for the wealthy. The wealth gap increased under Trump, as did the wage gap. Even worse, all of the economic gains for working people came at the expense of the middle class, which continued to lose ground.

In case you are not aware, "working people" ARE the middle class. They did NOT lose ground during the administration, as you know, low and middle-income folks increased more than that of upper-income workers.

Why do you insist on ignoring simple FACT?

 

[Dragonlady]

In case you are not aware, "working people" ARE the middle class. They did NOT lose ground during the administration, as you know, low and middle-income folks increased more than that of upper-income workers.

Why do you insist on ignoring simple FACT?

Because your facts are whack. Starting with working people are the middle class. If you're working in a fast food restaurant, retail, or other minimum wage job, you are not middle class. Working class people work in hourly jobs, with few benefits. They need food stamps, and earned income credits to get by. You completely ignore these people.

 

[Markle]

Because your facts are whack. Starting with working people are the middle class. If you're working in a fast food restaurant, retail, or other minimum wage job, you are not middle class. Working class people work in hourly jobs, with few benefits. They need food stamps, and earned income credits to get by. You completely ignore these people.

What is the typical household income where one worker earns the minimum wage?

If you don't know, obviously you are ignorant about the subject you are addressing so your comments are worthless.

Thank you, thank you for sharing!

 

[Harpy Eagle]

That's just goofy. Why even bother throwing up such nonsense?

Sorry you find the truth goofy, but it is what it is

 

[initforme]

Go ahead and run on gutting social security and medicare . political suicide and rightfully so. Two great American inventions.

 

[Aldo Raine]

Raising taxes always ends up in more revenue as well!!!!
MAGA

 

[Aldo Raine]

basquebromance

That is absolutely what should happen. Please, please, please do that!!!!
MAGA!!!!!!!!!!!!

 

[Aldo Raine]

The greatest increase in wages under Obama was his first month in office and the increase was 3.6% and it went down from there. His best after that was December 2008 at 2.5%. In 2015 the best month for wage increase was October at 2.4%. Wages In October of 2018 we cracked the 3% mark.

Nominal Wage Tracker

www.epi.org

<iframe width="100%" height="460" src="Nominal wage growth has been far below target in the recovery: Year-over-year change in private-sector nominal average hourly earnings, 2007–2021" frameborder="0"></iframe>

And who was president in 2008?
MAGA

 

[Independentthinker]

the tax cuts were terrific. we need more

IRS data proves Trump tax cuts benefited middle, working-class Americans most

Republicans’ 2017 tax reform law did exactly what was promised: It lowered taxes for all income groups.

thehill.com

I find it funny that when the left talk about this issue, they are always saying the rich don't pay their fair share and then they only want to talk about tax rate percentages instead of dollar amounts but I'm sure they will jump right on this one and talk about dollar amounts and not want to talk about tax percentages.

 

[Independentthinker]

Giving politicians less money to piss away benefits everyone.

Except for the fact that when they have less money from tax revenues, they just charge it to Uncle Sam's charge card. So, they still piss the money away, one way or the other.

 

[Dragonlady]

Accusing someone you don't know about them paying or not paying taxes? Nervy.

What a snowflake you are!!! Funny that you think my saying that she MAY not have filed taxes is some sort of accusation. I said nothing about her not paying taxes. It seems you hate having your "story" blown out of the water and are now moving the goal posts.

The only people not receiving the child tax credit are those who didn't file taxes and haven't applied.

 

[Independentthinker]

Revenues increased because we were printing billions of dollars.

What a crock of bullshit. Tax revenues are tax revenues and they went up. Our spending went up more and that is why the debt went up.

 

[Dragonlady]

I find it funny that when the left talk about this issue, they are always saying the rich don't pay their fair share and then they only want to talk about tax rate percentages instead of dollar amounts but I'm sure they will jump right on this one and talk about dollar amounts and not want to talk about tax percentages.

Percentages matter. 100% of nothing is still nothing. If the rich get 80% of the income but pay only 20% of the taxes, that means that those who receive less, are being taxed more.

 

[Independentthinker]

What a BULLSHIT article. The whole premises is that taxes were reduced by a larger percentage of total income for lower and middle class workers - 16% decrease for low income workers, 9% for workers earning more than $500,000.

Tax rate for workers earning $40,000 are 12% or $4,800. If you reduce their taxes by 16%, that's $768 which works out to $68 per month. Tax rate for those making $500,000 is 35% or $175,00. That worker will get a 9% refund or $15,750, or $1312.50 per month.

This bullshit article claims that since lower wage workers received a tax cut which is a larger percentage of taxes they paid, the low wage workers got a bigger tax break than those making in excess of $500,000 and thus received more benefit from Trump's tax breaks. No matter how you slice it, $758 per year is a WHOLE lot less than the $15,750 that the high wage workers received.

This is why we say "Figures never lie, by liars often figure".

Funny how the left wants to claim the rich don't pay their fair share and only want to talk about tax rates instead of tax dollars and yet with this article, you refuse to talk about tax rate differences and only want to talk about tax dollars.

 

[Papageorgio]

What a snowflake you are!!! Funny that you think my saying that she MAY not have filed taxes is some sort of accusation. I said nothing about her not paying taxes. It seems you hate having your "story" blown out of the water and are now moving the goal posts.

The only people not receiving the child tax credit are those who didn't file taxes and haven't applied.

I blew nothing out of the water. You believe what you need to believe.