So Joe... what is the "fair share"???

[rightwinger]

Why? If they have to pay that much, then why shouldnt YOU too?

Easy Peasy
Because I am not ridiculously wealthy

 

[rightwinger]

I favor a flat tax where corporations pay the same rate as individuals but the argument cited by the OP never impressed me. The fallacy I see is that it's based on "taxable income". With thousand upon thousand pages of tax code defining what is determined to be taxable income, I have no confidence in the basis of the derived percentages.

The Golden Rule
He who has the Gold, makes the rules

 

[M14 Shooter]

Apparently everyone you know is pretty fucking well off.

Apparently, everyone you know is stupid, irresponsible or both.

The majority of people spend all of their income

Because they choose to do so

 

[healthmyths]

You are conflating individual taxpayers with corporations.

Biden doesn't "CONFLATE"! Individual and corporations are in the top 10% of taxpayers. REGARDLESS.
So you are saying that Biden shouldn't conflate individual taxpayers but only corporations?
Do you know what the AVERAGE American corporation gross revenue is? Of course not you don't do any research you just spout off your totally uninformed opinion!

The general public thinks the average company makes a 36% profit margin, which is about 5X too high, Part II​

According to this NYU Stern database for more than 7,000 US companies (updated in January 2018) in many different industries the average profit margin is
7.9% for all companies and
6.9% for more than 6,000 companies excluding financial.

The General Public Thinks the Average Company Makes a 36% Profit Margin, Which Is About 5X Too High, Part II

This is an update of a CD post from a few years ago, with some new data and supplemented by a video below created by Richard Rider. When a random sample of American adults were asked the question “Just a rough guess, what percent profit on each dollar of sales do you think the average […]

www.aei.org

So now that a simple research question shows the profit margin is a lot lower than dummies like you believe...!
What about gross revenue of ALL American corporations... small to large?
Total business corporations in America 1,700,000

The U.S. Has More Individually Owned Businesses than Corporations

What sets the entrepreneurial middle class apart from other taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. payers is that they derive a large...

taxfoundation.org

Total gross sales in June 2021 $171,319,100,000 or in a year $2,055,829,200,000.
Average corporation gross sales per corporation $1,209,311! AVERAGE corporation.
EVIL money grubbing corporations!!
FACTS!

 

[healthmyths]

The Golden Rule
He who has the Gold, makes the rules

No that's you ignorant biased communist supporters attitude.
The Golden Rule is : "Do unto others as you would have others do unto you"!
Sad but evidently you've been a recipient by your attitude of people who don't believe that.
But it is definitely the Golden rule in the crowd you run around in!

 

[Lesh]

Apparently, everyone you know is stupid, irresponsible or both.

Because they choose to do so

Because they have to EAT

 

[Winco]

The problem for you is that I can do math. There is no way Social Security ban pay current beneficiaries without new revenues from current payors into the system. Ergo - ponzi scheme.

There is no way a Bank can continue to gives loans without new money coming in from deposits.

Therefore, by your reasoning, Banks are just a Huge Ponzi Scheme.

My goodness dude.
Think before you type.

 

[Blues Man]

Are you under the impression that the only people receiving Social Security are from 65 to 90 years old?

The rest are receiving disability payments of some sort.

 

[bripat9643]

There is no way a Bank can continue to gives loans without new money coming in from deposits.

Therefore, by your reasoning, Banks are just a Huge Ponzi Scheme.

My goodness dude.
Think before you type.

Hmmm, wrong. When someone deposits their money in the bank, it then can loan it out. However, a bank loans out your money, which creates obligations like mortgages which are claims on tangible property, To pay back your money, the bank can sell the mortgages to get cash to pay what you deposited. A Ponzi scheme doesn't use your money to buy tangible assets. It simply spends the money you have deposited. There's no way to get any money to return what you have deposited other than new deposits from fresh suckers.

The main point here is that a bank has funds to repay your deposits. A Ponzi scheme doesn't. And that means the bank can pay back all the people who deposited money, not just the initial set of "investors."

 

[Winco]

Everything you posted is perfectly consistent with a Ponzi scheme.

I see you are stuck on stupid again.

If people rushed to the bank to get their money, which I hope never happens, then that bank would NOT have the funds available to give EVERY depositor their money.

Quit being an Asshole.
You are wrong, but most RWI's can never admit they are wrong.

 

[Godboy]

Easy Peasy
Because I am not ridiculously wealthy

What does that have to do with percentages? Why would you expect a lower percentage than anyone else? I thought you retards were all about "paying your fair share". What happened to your principles?

 

[bripat9643]

I see you are stuck on stupid again.

If people rushed to the bank to get their money, which I hope never happens, then that bank would NOT have the funds available to give EVERY depositor their money.

Quit being an Asshole.
You are wrong, but most RWI's can never admit they are wrong.

Here's the difference: It's theoretically possible for all the depoistors of a bank to get their money out. In fact, it's highly likely. In the case of a Ponzi scheme, on the other hand, it's impossible for everyone to get their money out. The people running the Ponzi scheme have already spent most of it, with nothing to back it up. And that's what SS has to back up its obligations: nothing.

 

[Winco]

The people running the Ponzi scheme have already spent most of it, with nothing to back it up.

WTF?

People that are currently working, like me, add to the pot every month.
So, in your opinion, that amounts to "nothing to back it up."

 

[Blues Man]

Hmmm, wrong. When someone deposits their money in the bank, it then can loan it out. However, a bank loans out your money, which creates obligations like mortgages which are claims on tangible property, To pay back your money, the bank can sell the mortgages to get cash to pay what you deposited. A Ponzi scheme doesn't use your money to buy tangible assets. It simply spends the money you have deposited. There's no way to get any money to return what you have deposited other than new deposits from fresh suckers.

The main point here is that a bank has funds to repay your deposits. A Ponzi scheme doesn't. And that means the bank can pay back all the people who deposited money, not just the initial set of "investors."

Kind of like Social Security

 

[candycorn]

The rest are receiving disability payments of some sort.

Yeah to the tune of multiple billions a year. If we're going to keep this system in place where SS Disability is a thing; we need to actually fund SS.

Here is the part where you blame liberals, am I right?

 

[rightwinger]

What does that have to do with percentages? Why would you expect a lower percentage than anyone else? I thought you retards were all about "paying your fair share". What happened to your principles?

It happens to do with the wealthy being more capable of paying a higher tax rate than poor people

Simple math

 

[healthmyths]

Hmmm, wrong. When someone deposits their money in the bank, it then can loan it out. However, a bank loans out your money, which creates obligations like mortgages which are claims on tangible property, To pay back your money, the bank can sell the mortgages to get cash to pay what you deposited. A Ponzi scheme doesn't use your money to buy tangible assets. It simply spends the money you have deposited. There's no way to get any money to return what you have deposited other than new deposits from fresh suckers.

The main point here is that a bank has funds to repay your deposits. A Ponzi scheme doesn't. And that means the bank can pay back all the people who deposited money, not just the initial set of "investors."

YOU are wrong! Your statement:
"And that means the bank can pay back all the people who deposited money, not just the initial set of "investors."
FDIC will pay ONLY up to the
The standard deposit insurance coverage limit is $250,000 per depositor, per FDIC-insured bank, per ownership category. Deposits held in different ownership categories are separately insured, up to at least $250,000, even if held at the same bank.

FDIC: Deposit Insurance FAQs

Which means in case you don't comprehend... If you had $300,000 in the bank... the maximum coverage is $250,000!
Now how much cash is in circulation?

• There is about $1.2 trillion dollars of U.S. currency in circulation.
• The Federal Reserve Banks distribute new currency for the U.S. Treasury Department, which prints it.

How Currency Gets into Circulation - FEDERAL RESERVE BANK of NEW YORK

www.newyorkfed.org

So if you and all the rest of us Americans were to go to the bank at the same time, those of us with FDIC covered deposits could get at the most dividing $1,200,000,000,000 in cash in the banks by $250,000
the maximum number of accounts that would be immediately available would be 4,800,000 accounts
each worth $250,000 a piece.

 

[rightwinger]

The rest are receiving disability payments of some sort.

Conservatives look at Social Security as some type of savings account

In reality, if you are disabled on the job, you receive benefits
If you die, your family is protected

Your .401k doesn’t do that

 

[healthmyths]

It happens to do with the wealthy being more capable of paying a higher tax rate than poor people

Simple math

Got a VERY simple question for you. rightwinger.

Remember these very wealthy people you describe based on this table:
have a NET worth. NOT income.
So let's assume though after all their operating expenses they have on average a 5% return before taxes on their net worth.
Let's take Bezos for example. $188 billion net worth. And assume he gets 5% or $9.4 billion a year in gross income from his 188 billion net worth. So you suggest Bezo's pay half or $9.4 billion in taxes.
This leaves about $5 billion to spend.
What do you think he spends that on? How much food does he spend this $5 billion on, or houses, homes, or cars or planes or partying... how much? Say it is half or $2.5 billion on clothes, planes, homes, etc. who gets that $2.5 billion? More importantly though the remaining $2.5 billion... does he hid it under his mattress or bury in the backyard? OR does he invest it which again is used by the ventures invested in what do they do? HMMMM..
OH but YOU want the government to distribute this wealth right... remember that's what this is all about... some unknown people in the government distributing wealth. NOT creating wealth but distributing!

 

[jc456]

Been waiting seven years for a demofk to explain fair share!