Right-Wing Challenge: Fair Income Tax For The Top 50% vs Bottom 50%

[Nostra]

The trustees have been promising since the mid-90s that the trust fund would be exhausted and unable to pay full benefits around 2030. And here we are.

Just because you ignored that reality your entire working life doesn’t mean it wasn’t conveyed to you. Boomers enjoyed tax cut after tax cut in the intervening decades, now they’re going to have to swallow the benefit cuts.

Hoping working people are going to volunteer for tax increases to prop up Boomer lifestyles at this point is foolish.

Pay up, Sonny.

 

[Nostra]

“Fixing” it to the Boomers just means evading their share of the pain by transferring it entirely to subsequent generations via higher taxes now and larger future benefit cuts for those generations.

Luckily the default outcome—one that requires zero action from the political system and occurs naturally in the face of gridlock—prevents the Boomers from escaping their share of the pain.

Too bad. You get to suffer like all the working folks before you. Gonna have to raise your SS taxes, boi.

 

[Greenbeard]

Too bad. You get to suffer like all the working folks before you. Gonna have to raise your SS taxes, boi.

I would advise saving your government checks now. You've still got about five or six years.

 

[Nostra]

I would advise saving your government checks now. You've still got about five or six years.

We will just raise your taxes. Pay your fair share, loser.

 

[Greenbeard]

We will just raise your taxes. Pay your fair share, loser.

Good luck with that, grandpa. We'll know soon enough if makers still outnumber takers or not.

 

[Nostra]

Good luck with that, grandpa. We'll know soon enough if makers still outnumber takers or not.

Doesn't matter, Skippy. You will pay up.

 

[Southern Dad]

The minimum tax rate is 10%
View attachment 1231036

The "fair tax" means the same tax rate, say 25% on all income, for Musk or the working poor.
You are describing a "sales tax", not pertinent.

Sorry, but over 40% of our wage earners pay zero percent or less in federal income tax. See you pay income tax on AGI (Adjusted Gross Income) which is after all those deductions for you, your spouse, those kids you can’t afford, etc. In other words, you can make $40k or $50k and still pay no income tax because you have so many deductions. Let’s not forget that EITC (Earned Income Tax Credit)…. Talk about a windfall.

 

[CowboyTed]

This. This is the way

That's why liberals hate it, of course

Don't hate it, just know it doesn't give a productive society, it will concentrate too much money in the wealthy...

The RW don't seem to understand the problems with having too much concentrated wealth. They could read a history book...

 

[22lcidw]

Don't hate it, just know it doesn't give a productive society, it will concentrate too much money in the wealthy...

The RW don't seem to understand the problems with having too much concentrated wealth. They could read a history book...

I am not disagreeing with you in this era. People survived with little or no taxation for social agendas in the past.

 

[CowboyTed]

The point, which you admit you missed is that a good percentage of our population isn’t paying federal income taxes. You say it is because they don’t have much income… Why shouldn’t we have a minimum of 3% paid in federal income tax? As for the fair tax causing poor people to pay the same as Elon Musk, that isn’t how it would work. See the poor people spend far less than the rich people. Therefore they would pay the same percentage but far, far less in dollars. Whereas someone like Musk buys an expensive car, he’d pay those big taxes.

So you want a flat tax...

Name a reasonable size country who have implemented it...

You can say Hungry (or Romania)... Hungry is the largest recipient of EU aid per capita...

So the RW here want to put in a tax system like Bulgaria (10%), Romania (10%), Hungary (15%), Kazakhstan (10%), Uzbekistan (12%), Estonia (22%), Georgia (20%) and Bolivia....
I will not all these countries also have VAT at 20%+...

This is why no one has put it in compared to a progressive tax scheme... The system is for loosers...

 

[EdwinAMartin]

Sorry, but over 40% of our wage earners pay zero percent or less in federal income tax

Cuz income taxes are the only taxes anybody pays ... And, this is what happens when the personal deductions finally got indexed to inflation. Index it to real inflation and see what happens then ... you will really be sniveling then.

In real life, poor and working people pay a higher percentage of taxes on their incomes than the middle class does, and receives fewer govt. benefits than the middle class does.

 

[CowboyTed]

I am not disagreeing with you in this era. People survived with little or no taxation for social agendas in the past.

They had an average lifespan at 40 yrs of age...

We are far more developed societies than back then...

People starved to death and crime was way higher in those times too..

 

[CowboyTed]

Scandinavian Social Democracy.

Hector,

Better not tell them that another word for Social Democracy is Regulated Capitalism...

US has plenty of Social programs like roads, policing, education, airports.....

They really don't like us pointing this out as they know things like roads are really popular. And they can't understand how socialism is bad but roads are good...

 

[22lcidw]

They had an average lifespan at 40 yrs of age...

We are far more developed societies than back then...

People starved to death and crime was way higher in those times too..

We spend so much and still have poverty and commercials saying there are people starving to death in our nation asking for donations. Add up the total taxation of all levels of different governments in our nation. Would it be 50% easily and even more?

 

[CowboyTed]

We spend so much and still have poverty and commercials saying there are people starving to death in our nation asking for donations. Add up the total taxation of all levels of different governments in our nation. Would it be 50% easily and even more?

This is the facts compared:

Countries below US are not really countries where you would want to live.

US then spend 3.4% of GDP on Defence (for that it keeps its superpower status).

Truth is, the gaffer curve says that people will continue to make money even when taxes are 75%+...

US low tax system is a recent thing and cam as the US debt exploded...

When they say Make America Great Again, the tax rates were higher then, things were paid for... US was statistically far more the land of opportunity than it is today.

 

[JohnDB]

 

[Southern Dad]

So you want a flat tax...

Name a reasonable size country who have implemented it...

You can say Hungry (or Romania)... Hungry is the largest recipient of EU aid per capita...

So the RW here want to put in a tax system like Bulgaria (10%), Romania (10%), Hungary (15%), Kazakhstan (10%), Uzbekistan (12%), Estonia (22%), Georgia (20%) and Bolivia....
I will not all these countries also have VAT at 20%+...

This is why no one has put it in compared to a progressive tax scheme... The system is for loosers...

I did not say that I wanted a flat tax. Maybe you need to work on your reading skills. I do however want a tax where everyone pays something. No one should pay zero percent or less in federal income taxes.

 

[Southern Dad]

Cuz income taxes are the only taxes anybody pays ... And, this is what happens when the personal deductions finally got indexed to inflation. Index it to real inflation and see what happens then ... you will really be sniveling then.

In real life, poor and working people pay a higher percentage of taxes on their incomes than the middle class does, and receives fewer govt. benefits than the middle class does.

Federal income taxes have a specific purpose, to fund our federal government. When we allow nearly half the wage earners to pay zero percent or less in federal income tax where is their “fair” share?

 

[kyzr]

Federal income taxes have a specific purpose, to fund our federal government. When we allow nearly half the wage earners to pay zero percent or less in federal income tax where is their “fair” share?

Here are the Federal tax rates. The minimum rate is 10%.
If you want to eliminate tax deductions, that would generate a lot more revenue.

 

[EdwinAMartin]

Federal income taxes have a specific purpose, to fund our federal government. When we allow nearly half the wage earners to pay zero percent or less in federal income tax where is their “fair” share?

lol you either can't read or you are clueless. So you disapprove of adjusting the standard deduction for inflation?