they do already. It goes to ZERO. that’s progressive tax.,
wrong, they do not. Rich people realize more govt support from tax dollars than poor. They SHOULD PAY HIGHER TAXES
Spending can never be cut, only reduce the amount of increase. If you cut all increases, you’ll ruin the business investments which depend upon marginal inflation as their investment increases require.
Wrong, the more you tax the poor at any rate, the less money is available for these poor to pay state taxes. Any amount you increase the poor or drive low middle class into poverty, the greater the burden on local taxation and the cost of services to the poor as they grow in number.
Then why even suggest it.
We can easily help eliminate the deficit doing one thing. Raise the FICA tax cap. It’s a flat rate tax.
no they don’t. It’s just a rich person’s way of explaining away his responsibility. RICH PEOPLE are benefit more by govt spending than ANY poor person.
Some States use the sales tax as one of their main sources of income…
Fine, promote a huge recession. EVERY time the gop has massive tax cuts, they put freezes on domestic spending and freezes on govt wages. Since the GOVT is the single biggest employer and CONTRACTOR of private industry we soon drop domestic soending; a recession follows. People are then Laid off by the millions, start collecting unemployment and the deficit gies up. It did with bush when we had the biggest recession since 1929. It did with every gop tax cut for the rich who love recessions.
Trump said it. They the rich , are the only ones with enough assists left to buy up real estate at reduced depression era prices….only to be resold for huge profits after the bailouts.
1. Rich people already pay way more taxes than the lower half of incomes, ALL TAXES, Federal, State, Local, School, Sales, etc.
2. Spending MUST be cut. Trump's Budget was $4T, Biden's Budget is $7T. We need to cut, and cut, and cut, and cut. Cutting Federal spending has nothing to do with business investments, unless you are counting all of those unwarranted subsidies.
3. A more progressive standard deduction helps the poor and taxes the wealthy more. You misunderstood my meaning.
4. Raising or removing the cap saves SS, it does NOT help with the Budget Deficit.
5. No matter how you slice it, either we all owe $100,000 or rich people owe $1b each, its a very big debt that need to be addressed as the interest paid is exploding. I don't see any brilliant ideas coming from you how to start paying down the Debt.
6. I dropped the new 4% FEDERAL sales tax idea since I agree that hits the poor too hard. State sales taxes are unaffected.
7. If a recession is what we need to cut spending, then lets go, the sooner the better. Lets stop borrowing and start paying down the Debt.
Looking at what the GOP could cut to get back to 2019 levels, how about:
a. Department of Education
b. ALL subsidies
c. ALL foreign aid
d. Reduce Welfare
e. Reduce Medicaid
f. Defense to 2019 levels (still more than the next 10 militaries)