PLEASE EXPLAIN: How will I get $4000 increase in my income if corporate taxes go down?

[The Derp]

...taking out a credit card from the Bank of China in the name of our children, driving up our debt...is irresponsible, unpatriotic.

Yeah, because Bush borrowed to provide tax cuts for the rich, unwinnable wars of occupation, a Medicare prescription drug benefit, and a mortgage bubble.

 

[Winston]

OMB: Top 20% pay 95% of taxes, middle class 'single digits'

Top 20% pay 95% of taxes, middle class 'single digits'

The BOTTOM 80% OF PEOPLE PAY 5% OF THE TAXES!

Yea, the RICH are not paying their "FAIR SHARE"!!

Idiot PROGS.

No, you are the idiot. The Top 20% own almost 90% of the wealth and earn the bulk of the income so no damn wonder they pay the bulk of the taxes. But I agree, it's a problem and the solution is quite simple and has been around for years. RAISE THE TAXES ON THE WEALTHY, especially the top one percent. When marginal tax rates on the top one percent were north of 65% the top one percent only garnished ten percent of total national income. Now, with rates less than 40% they collect more than 20% of national income. If you want the rich to pay a lower share of total taxes you must initiate policies that results in them getting a lower share of total national income. The optimal marginal tax rate on the top one percent--well it's north of 90% as this study, that I know you won't read and couldn't possibly understand, indicates.

http://economics.sas.upenn.edu/~dkrueger/research/top1.pdf

OMB: Top 20% pay 95% of taxes, middle class 'single digits'

Top 20% pay 95% of taxes, middle class 'single digits'

The BOTTOM 80% OF PEOPLE PAY 5% OF THE TAXES!

Yea, the RICH are not paying their "FAIR SHARE"!!

Idiot PROGS.

No, you are the idiot. The Top 20% own almost 90% of the wealth and earn the bulk of the income so no damn wonder they pay the bulk of the taxes. But I agree, it's a problem and the solution is quite simple and has been around for years. RAISE THE TAXES ON THE WEALTHY, especially the top one percent. When marginal tax rates on the top one percent were north of 65% the top one percent only garnished ten percent of total national income. Now, with rates less than 40% they collect more than 20% of national income. If you want the rich to pay a lower share of total taxes you must initiate policies that results in them getting a lower share of total national income. The optimal marginal tax rate on the top one percent--well it's north of 90% as this study, that I know you won't read and couldn't possibly understand, indicates.

http://economics.sas.upenn.edu/~dkrueger/research/top1.pdf

Prog math.

Fucking jackasses.

If you want the rich to pay their fair share without hurting the middle class, you cant use a progressive tax structure.

You would have to tax ALL INCOME based on TOTAL INCOME.....so if you earn $1,000,000, you pay 40% ON ALL OF YOUR FUCKING INCOME.....and if you earn $50,000 you pay 20% ON ALL YOUR INCOME.

Again, without a rudimentary understanding of math because they are fucking stupid, it's challenging to talk economics with PROGS.

I have forgotten more about Economics than you will ever know and it is quite clear you struggle with basic math and misunderstand what a progressive tax system means. It does not mean that taxes get progressively higher, it means that those with higher income pay a greater amount of that income in taxes. It can be structured in any number of ways. If you want the rich to pay their fair share without hurting the middle class you simply increase the tax rate on the wealthy. Even if we accept your understanding of progressive taxes, the middle class does not get hit with a tax increase that is initiated at incomes greater than theirs. I mean like DAMN, can you really be that stupid.

 

[Mikeoxenormous]

Can any explain Trump's claim that a cut in the corporate tax rate from 35 percent to 20 percent would boost incomes of U.S. workers by at least $4,000 a year?

The White House Council of Economic Advisers put out a paper this week that says:

"Reducing the statutory federal corporate tax rate from 35 to 20 percent would, the analysis below suggests, increase average household income in the United States by, very conservatively, $4,000 annually."

I suppose that if you average all of the households in America, and include the millions of dollars that the CEOs from corporations will get as well as the $0 that everyone else gets, it might average out to $4,000.

But I don't see any way that my household income will increase by $4,000.



At this point, Trump is a liar until someone can come forward and prove that he is not.

Here's what has happen in the recent past using profits versus Real Dollar wage growth.
View attachment 156825
As we can see, corporate profits have increased dramatically in recent time. At the same time wages have decreased.
So that takes care of that.
Plus, we are still paying for the tax cuts from 2003, that primarily went to the wealthy. Now Trump/GOP will be adding another $1.5 trillion to the National Debt.
Where are the fiscal conservatives?
View attachment 156827
View attachment 156829

And who was the president the last 8 years? The same guy who made the RICH, RICHER and made the middle class, much POORER. And he added 10 trillion to the national debt over 8 years, what President Trump proposes could raise it by 1.5 trillion over 10 years. You are quite a stupid bunch of people.

The $1.5 trillion, is just one bill. Then there's his pledge to spend another $trillion on the infrastructure. Now. we're at $2.5 trillion with just two issues. If you think Trump will stop adding to the National Debt, you are are not living in reality.
Look at the way he ran businesses. Four bankruptcies and several other court judgements against him for not paying his own bills. What makes you think he'll change his ways, when he's spending other people's money.

"I'm the king of debt. I love debt," Trump told CNN's Wolf Blitzer on Wednesday, seemingly trying to explain the comfort level he has with debt after a long business career that included four bankruptcy filings by his companies.
<SNIP>
Asked if the U.S. needs to pay its debt in full or if it could negotiate a partial repayment, Trump said: "I would borrow, knowing that if the economy crashed, you could make a deal."
Donald Trump: 'I'm the king of debt'

Then there's his pledge to spend another $trillion on the infrastructure.

At least President Trump will actually put that money to infrastructure that the last president said he was going to do. Love it how easy a liberal forgets what their dude did..

http://nypost.com/2012/01/29/how-the-800b-stimulus-failed/

 

[The Derp]

Raise contributions, you have to pay out more.

Says who? You? Who the fuck are you, anyway, and why should anyone give a shit what you think?

Yeah, Obama made things worse with his SS tax cut, eh?

So how will cutting income taxes for the rich "help" social security and Medicare? Because the Conservatives' budget cuts Medicare to pay for tax cuts.

 

[Mikeoxenormous]

OMB: Top 20% pay 95% of taxes, middle class 'single digits'

Top 20% pay 95% of taxes, middle class 'single digits'

The BOTTOM 80% OF PEOPLE PAY 5% OF THE TAXES!

Yea, the RICH are not paying their "FAIR SHARE"!!

Idiot PROGS.

No, you are the idiot. The Top 20% own almost 90% of the wealth and earn the bulk of the income so no damn wonder they pay the bulk of the taxes. But I agree, it's a problem and the solution is quite simple and has been around for years. RAISE THE TAXES ON THE WEALTHY, especially the top one percent. When marginal tax rates on the top one percent were north of 65% the top one percent only garnished ten percent of total national income. Now, with rates less than 40% they collect more than 20% of national income. If you want the rich to pay a lower share of total taxes you must initiate policies that results in them getting a lower share of total national income. The optimal marginal tax rate on the top one percent--well it's north of 90% as this study, that I know you won't read and couldn't possibly understand, indicates.

http://economics.sas.upenn.edu/~dkrueger/research/top1.pdf

OMB: Top 20% pay 95% of taxes, middle class 'single digits'

Top 20% pay 95% of taxes, middle class 'single digits'

The BOTTOM 80% OF PEOPLE PAY 5% OF THE TAXES!

Yea, the RICH are not paying their "FAIR SHARE"!!

Idiot PROGS.

No, you are the idiot. The Top 20% own almost 90% of the wealth and earn the bulk of the income so no damn wonder they pay the bulk of the taxes. But I agree, it's a problem and the solution is quite simple and has been around for years. RAISE THE TAXES ON THE WEALTHY, especially the top one percent. When marginal tax rates on the top one percent were north of 65% the top one percent only garnished ten percent of total national income. Now, with rates less than 40% they collect more than 20% of national income. If you want the rich to pay a lower share of total taxes you must initiate policies that results in them getting a lower share of total national income. The optimal marginal tax rate on the top one percent--well it's north of 90% as this study, that I know you won't read and couldn't possibly understand, indicates.

http://economics.sas.upenn.edu/~dkrueger/research/top1.pdf

Prog math.

Fucking jackasses.

If you want the rich to pay their fair share without hurting the middle class, you cant use a progressive tax structure.

You would have to tax ALL INCOME based on TOTAL INCOME.....so if you earn $1,000,000, you pay 40% ON ALL OF YOUR FUCKING INCOME.....and if you earn $50,000 you pay 20% ON ALL YOUR INCOME.

Again, without a rudimentary understanding of math because they are fucking stupid, it's challenging to talk economics with PROGS.

I have forgotten more about Economics than you will ever know and it is quite clear you struggle with basic math and misunderstand what a progressive tax system means. It does not mean that taxes get progressively higher, it means that those with higher income pay a greater amount of that income in taxes. It can be structured in any number of ways. If you want the rich to pay their fair share without hurting the middle class you simply increase the tax rate on the wealthy. Even if we accept your understanding of progressive taxes, the middle class does not get hit with a tax increase that is initiated at incomes greater than theirs. I mean like DAMN, can you really be that stupid.

 

[ColonelAngus]

Progs, you can clean up the tax issues by keeping welfare out of IRS and tax refunds.

THE IRS IS NOT SOCIAL SERVICES.

 

[Toddsterpatriot]

It's true, those solar jobs have very low productivity.

What do you mean by "low productivity"? Is this just some general, vague term you used that allows you to wiggle around the definition parameters as it suits your argument?

Bitch move, pal.

What do you mean by "low productivity"?

FFS. Do you have no clue about economics?

One guy with a back hoe can dig a ditch much faster than 5 guys with shovels.
You can brag that your ditch company with the shovel guys creates more jobs, but they're less productive.
Do you get it now?

 

[Toddsterpatriot]

Direct deposit.So which one helps him?

The charitable deduction, for example, would help.

So to avoid taxes he has to give it away. LOL!
I can do the same thing.
Doesn't seem like the rich guy is the only one who can use it.

 

[The Derp]

I don't care if you believe me.

Me believing you is detrimental to your argument. Because if I don't believe you, then you're just a fucking hypocrite. You've given me no reason to believe you.

You never spoke up about Bush's spending...it was only after Bush left office and his legacy was shit did all these Conservatives start coming out from under various stones to peacock over debt.

We see right through you.

II'd have cut 50% of government spending while Bush was President. A lot more under Obama.

You say that now, but why the fuck should I believe you're genuine?

 

[The Derp]

One guy with a back hoe can dig a ditch much faster than 5 guys with shovels.

So no explanation, just a half-assed attempt at rhetoric. How exactly are solar jobs "less productive" than fossil fuel jobs? They're actually MORE productive because you only have to install the solar panel once, and the sun never runs dry.

 

[The Derp]

So to avoid taxes he has to give it away. LOL!

Do you understand what a charitable tax deduction is?

 

[The Derp]

Doesn't seem like the rich guy is the only one who can use it.

The rich guys use it to lower their tax liability. That's why they do it. Do you think the Kochs give a shit about the NYC Ballet or PBS? No. They donate money to both to lower their tax liability which saves them money.

 

[Toddsterpatriot]

Raise contributions, you have to pay out more.

Says who? You? Who the fuck are you, anyway, and why should anyone give a shit what you think?

Yeah, Obama made things worse with his SS tax cut, eh?

So how will cutting income taxes for the rich "help" social security and Medicare? Because the Conservatives' budget cuts Medicare to pay for tax cuts.

Raise contributions, you have to pay out more.

Says who? You?

Says the Social Security Administration, you fucktard.
It's in their formula.

So how will cutting income taxes for the rich "help" social security and Medicare?

Social Security and Medicare aren't funded out of income taxes, so how will it hurt?

 

[Wry Catcher]

Can any explain Trump's claim that a cut in the corporate tax rate from 35 percent to 20 percent would boost incomes of U.S. workers by at least $4,000 a year?

The White House Council of Economic Advisers put out a paper this week that says:

"Reducing the statutory federal corporate tax rate from 35 to 20 percent would, the analysis below suggests, increase average household income in the United States by, very conservatively, $4,000 annually."

I suppose that if you average all of the households in America, and include the millions of dollars that the CEOs from corporations will get as well as the $0 that everyone else gets, it might average out to $4,000.

But I don't see any way that my household income will increase by $4,000.

Because every auto dealership in America will pass on their tax saving to you, the consumer. Cars will be $4k cheaper, appliances thousands cheaper, real estate will drop their commission to 2% - soon we will all become 1%ers!

Believe me!

[sarcasm alert]



At this point, Trump is a liar until someone can come forward and prove that he is not.

Because every auto dealership in America will pass on their tax saving to you, the consumer. Cars will be $4k cheaper, appliances thousands cheaper, real estate will drop their commission to 2% - soon we will all become 1%ers!

Believe me!

[sarcasm alert]

 

[Toddsterpatriot]

I don't care if you believe me.

Me believing you is detrimental to your argument. Because if I don't believe you, then you're just a fucking hypocrite. You've given me no reason to believe you.

You never spoke up about Bush's spending...it was only after Bush left office and his legacy was shit did all these Conservatives start coming out from under various stones to peacock over debt.

We see right through you.

II'd have cut 50% of government spending while Bush was President. A lot more under Obama.

You say that now, but why the fuck should I believe you're genuine?

Me believing you is detrimental to your argument.

My argument is the government spends way too fucking much money.
Your belief is immaterial to my argument.

You say that now, but why the fuck should I believe you're genuine?

Bush should have spent 50% less. Obama should have spent 60% less.
Trump should spend 60% less.

 

[Winston]

Some families saved more? That's hilarious!

Yes, they did. And I know you "chose not to believe that. It can't be true" because that's exactly what your doppleganger Boonstra said.

Which loopholes can a mean CEO use to not pay taxes on an extra $1,000,000? Give some examples.

Thanks, but none of those help a CEO who gets a $1,000,000 raise.

Try again?

Put the one million dollars into a Charitable Remainder Trust, that gives you a one million dollar immediate tax write off as a charitable contribution. Invest the money and let it grow while also paying yourself income from the proceeds. You only pay taxes on what you take out, as you take it out but you do get the immediate benefit of total tax deduction of the one million

Put the one million dollars into a Charitable Remainder Trust, that gives you a one million dollar immediate tax write off as a charitable contribution.

So a rich guy can save taxes by giving money away? Fucking rich bastard!!!

Invest the money and let it grow while also paying yourself income from the proceeds.

So if he makes $50,000 income per year, he pays taxes on $50,000?

That's almost as good as having $1,000,000. LOL!

The one million dollars is not given away. A charitable remainder trust is a trust that contains the million dollars. The executive gets to write off the entire million dollars, which is what you asked for. But the executive still "owns" the million dollars. He makes all the investment decisions as to what to do with the million dollars and he chooses how much to collect in income from the earnings of the one million dollars, which he also gets to keep, tax deferred until he actually collects it. I would structure by calculating the expected income and set up yearly distributions equal to the income generated and the one million dollars divided by his years of life expectancy. Do it right, in the end, the charity doesn't get jackshit. Plus, when you collect the income you get to pay capital gains tax rate on that income. It really gets cool when you fund a charitable remainder trust with stock options. You get to deduct the value of the stock options from your income without having to book the capital gain. Mitt Romney uses this strategy extensively. When he said he gave millions of dollars to the Mormon church he lied. He still owns and controls that million dollars and he is taking income taxfree because his CRT is grandfathered in under old rules. I doubt the Mormon church will end up with donkey squat, Romney will have collected all the principal and income before he and his wife have died. Because that is when the charity gets the REMAINDER, at the death of the owners, hence the name, Charitable REMAINDER Trust.

 

[The Derp]

Says the Social Security Administration, you fucktard.It's in their formula.

So why can't the formula be modified to cap benefits? Where's that rule? Nowhere. It's not my problem you lack imagination or creativity. The solve is a simple piece of legislation. Doesn't have to be more than 2 pages.

Social Security and Medicare aren't funded out of income taxes, so how will it hurt?

Well, the Trump budget cuts from Medicare and Medicaid to pay for tax cuts, so clearly they are linked.

 

[Toddsterpatriot]

One guy with a back hoe can dig a ditch much faster than 5 guys with shovels.

So no explanation, just a half-assed attempt at rhetoric. How exactly are solar jobs "less productive" than fossil fuel jobs? They're actually MORE productive because you only have to install the solar panel once, and the sun never runs dry.

How exactly are solar jobs "less productive" than fossil fuel jobs?

How much of our energy usage is supplied by solar energy today?

 

[PredFan]

Can any explain Trump's claim that a cut in the corporate tax rate from 35 percent to 20 percent would boost incomes of U.S. workers by at least $4,000 a year?

The White House Council of Economic Advisers put out a paper this week that says:

"Reducing the statutory federal corporate tax rate from 35 to 20 percent would, the analysis below suggests, increase average household income in the United States by, very conservatively, $4,000 annually."

I suppose that if you average all of the households in America, and include the millions of dollars that the CEOs from corporations will get as well as the $0 that everyone else gets, it might average out to $4,000.

But I don't see any way that my household income will increase by $4,000.



At this point, Trump is a liar until someone can come forward and prove that he is not.

And you have already decided that no one will be able to prove he isn't to you. Why should anyone bother trying? You don't make any real difference.

 

[bripat9643]

What did we get out of it, lower economic growth? Bankrupt green energy companies?

1. There are more people working for just solar companies than there are for all oil, natural gas, and coal jobs combined.

So so-called "green energy" requires more labor than all fossil fuel enery sources combined? That's not a benefit, moron.