Tax the Rich!

[bendog]

Name one Federal tax increase in the last hundred years that didn’t hit the wallets of average Americans.

Biden’s tax-the-rich plan would ultimately cost middle-class earners, analysis says

Former Vice President Joseph R. Biden has vowed to raise taxes only on individuals earning more than $400,000 annually, but critics contend that his economic plan would wind up draining the wallets of middle-class families as well.

m.washingtontimes.com

Seems more like partisanship based reporting.

“He hits the economy from three directions at the same time. He punishes work, he punishes investment and he makes us less productive,” said University of Chicago economics professor Casey Mulligan, a former economic adviser to President Trump who co-authored the report, which was released Monday. “And people understand from living through the Obama years that Obama just kind of hit you in a bunch of different ways, and it started to add up in the end.”

All those shovel ready jobs that were ready to go but had no support from the republicans is what caused our weak recovery so right wingers could complain about it afterward.

What shovel ready jobs. LOL I recall asphalt on crappy streets and more bs. Although I don't think Biden's plan has as much pork.

 

[Ray From Cleveland]

If congress lifted the cap on social security taxes, solvency would pretty much be addressed.

That's only back door method of taxing the rich. If they pay more, shouldn't they also get more when they retire?

 

[Weatherman2020]

Name one Federal tax increase in the last hundred years that didn’t hit the wallets of average Americans.

Biden’s tax-the-rich plan would ultimately cost middle-class earners, analysis says

Former Vice President Joseph R. Biden has vowed to raise taxes only on individuals earning more than $400,000 annually, but critics contend that his economic plan would wind up draining the wallets of middle-class families as well.

m.washingtontimes.com

Seems more like partisanship based reporting.

“He hits the economy from three directions at the same time. He punishes work, he punishes investment and he makes us less productive,” said University of Chicago economics professor Casey Mulligan, a former economic adviser to President Trump who co-authored the report, which was released Monday. “And people understand from living through the Obama years that Obama just kind of hit you in a bunch of different ways, and it started to add up in the end.”

All those shovel ready jobs that were ready to go but had no support from the republicans is what caused our weak recovery so right wingers could complain about it afterward.

Hilarious

 

[task0778]

Taxing the rich is an old and often used attempt to increase revenue so the politicians can spend more on their pork projects. Except it NEVER provides the amount of extra revenue they say it will, and the rich people who can afford it move out. Look at New York today, the wealthy are leaving and the Dems are up in arms! Gotta repeal that SALT limitation, pronto! It's going to be our top priority, I'm surprised it isn't in the current Corona Relief Bill. When you raise taxes on the wealthy either by raising the rates or limiting deductions or any other way that increases their tax bill, there IS a consequence. Namely, they effing leave. And they don't invest in local and state startups and business expansions.

So, it's not about increasing revenue and deceasing thee debt/deficits. It's all about votes, and nothing more.

 

[Weatherman2020]

Name one Federal tax increase in the last hundred years that didn’t hit the wallets of average Americans.

Biden’s tax-the-rich plan would ultimately cost middle-class earners, analysis says

Former Vice President Joseph R. Biden has vowed to raise taxes only on individuals earning more than $400,000 annually, but critics contend that his economic plan would wind up draining the wallets of middle-class families as well.

m.washingtontimes.com

Seems more like partisanship based reporting.

“He hits the economy from three directions at the same time. He punishes work, he punishes investment and he makes us less productive,” said University of Chicago economics professor Casey Mulligan, a former economic adviser to President Trump who co-authored the report, which was released Monday. “And people understand from living through the Obama years that Obama just kind of hit you in a bunch of different ways, and it started to add up in the end.”

All those shovel ready jobs that were ready to go but had no support from the republicans is what caused our weak recovery so right wingers could complain about it afterward.

What shovel ready jobs. LOL I recall asphalt on crappy streets and more bs. Although I don't think Biden's plan has as much pork.

All those dog parks Barry built for millions each and employed people for 2 weeks.

 

[Claudette]

Remember when that lying asshole Obama told Americans that he wouldn't raise taxes on anybody making less than $250K but he did? There were like 20 tax increases that affected either directly or indirectly almost every American.

Now we have that lying sonofabitch China Joe saying he won't raise taxes on anybody making less than $450K a year.

Only an Useful Idiot would believe him.

We have many Useful Idiots in this country, don't we?

I agree and once his idiotic EO's kick in we tax payers will get screwed. His climate change and green shit sure won't help. In fact I'd bet his green shit bankrupts the country.

On day one he kicked every tax paying American right in the teeth and you can bet those that voted for his stupid ass will be regretting it.

New Mexico already does. They went for Biden and the first thing he did was land 11,000 in the unemployment line. No more drilling on Fed lands and an end to fracking will put even more out of work.

Get ready folks. We are in for four years of misery with the Biden/Harris shit show.

 

[LeftofLeft]

We are $28 trillion in debt. Best way to stop that is to make people actually pay for it.

How about cutting spending? Is that how you run your finances? Run up debt, make everyone else pay for it, refuse to cut spending, and then spend more???

 

[Ray From Cleveland]

Is that why Democrats sent almost a trillion to nations that hate us and gave Americans a whopping $600 of their own money back?

Yes, but think of how much more advanced Pakistan will be now that we are funding their gender studies.

 

[Jimmy_Chitwood]

Tax our way to prosperity?

Worked great for Venezuela...

Oh wait...

California seems to be having good luck with it.

 

[task0778]

We are $28 trillion in debt. Best way to stop that is to make people actually pay for it.

Correct, and Biden is about to bury us in 2 trillion more, and he's only been in office less than three weeks. The reason for no outrage is because most people won't have to repay these debts--only the wealthy when Democrats have anything to say about it. The only way to stop this spending is if everybody had to repay it: the rich, the poor, and anybody in between. Then you'd see how fast the general public would be protesting this kind of spending.

Maybe we should have VAT that taxes consumption, everybody pays it except maybe for food and clothing. The VAT rate would be raised or lowered according to last year's deficit, if the gov't spends too much then the VAT rate goes up. LOL, yeah right, I don't think that idea will ever be legislated into law.

 

[Flash]

Slick Willy was a scumbag but he was politically astute and a damn good corrupt politician. He got filthy rich with his corruption.

However, he knew that the best way to be successfully was to let Newt pilot the ship. He signed every one of Newt's Contract With America initiatives, except one.

The one he didn't endorse was the Balanced Budget Initiative.

If anyone is concerned about debt then we can blame Slick Willy. He had a chance to stop debt but he was too chickenshit to do it.

 

[Flash]

Remember when that lying asshole Obama told Americans that he wouldn't raise taxes on anybody making less than $250K but he did? There were like 20 tax increases that affected either directly or indirectly almost every American.

Now we have that lying sonofabitch China Joe saying he won't raise taxes on anybody making less than $450K a year.

Only an Useful Idiot would believe him.

We have many Useful Idiots in this country, don't we?

I agree and once his idiotic EO's kick in we tax payers will get screwed. His climate change and green shit sure won't help. In fact I'd bet his green shit bankrupts the country.

On day one he kicked every tax paying American right in the teeth and you can bet those that voted for his stupid ass will be regretting it.

New Mexico already does. They went for Biden and the first thing he did was land 11,000 in the unemployment line. No more drilling on Fed lands and an end to fracking will put even more out of work.

Get ready folks. We are in for four years of misery with the Biden/Harris shit show.

I bet that most of his stupid Green Initiatives will be used to pay off the filthy Moon Bat special interest groups. Like earmarking money for research to Black Colleges. It will be tied to Unions in Democrat districts.

Like during the Obama Administration money went go to Democrat donors. Like the owners of Solyndra that were Democrat Campaign Bundlers. The company went bankrupt but the owners walked away with a ton of cash.

God only knows how much will go to China and other foreign countries.

 

[Sunsettommy]

We are $28 trillion in debt. Best way to stop that is to make people actually pay for it.

more noise from the back of the bus,,, you dont stop debt by paying for whats already there when they are spending faster than it can be paid off,,

the only way to stop it is to cut spending,,,

Since that isn't going to happen, pay up.

Your ignorance is comical, try reading up on the problem will make you smarter:

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This is what the Democratic party created from the 1930's onward. Before that it was 100% discretionary spending which was not difficult to cut back to keep close to a balanced budget set up. Now that entitlements are created and Mandatory, it has become a big no no to cut back any of it, would be political suicide for any of the Senators or Representatives to try, thus it now runs on autopilot growing and eating up the incoming revenue.

Well the gop supports increasing Medicaid and Medicare. Maybe not social security. But I consider your posting partisan.

If congress lifted the cap on social security taxes, solvency would pretty much be addressed. Like the vast maj of Americans, I don't have a problem with social security, but imo the cost containment for Medicaid and esp medicare is insufficient, as compared to private insurance. And consider me partisan. Although even Reagan made his peace with middle class entitlements

Ha ha ha, can't you people read?

I said it was the Democrats who CREATED the entitlement programs by law, those are the programs today that are eating up the Federal budget of today and even more into the future. Before they were created, it was quite easy to keep deficits very small or have budget surpluses.

The GOP had nothing to with the creation of these mandated spending programs that are slowly spiraling out of control, but they don't fix the problems when they have the opportunity either, but then again it is now considered a big no no to cut the programs anyway, thus no one in Congress wants to get hurt politically to do the right thing.

Yes the GOP have been supporting SPENDING increases, so has the democrats...., who created these boondoggles in the first place.

Lifting SS caps will never solve the problem, just push it down the road into the future for the Feds to have to once again deal with it. Currently there is a 16% tax coming out of the paycheck, half from the employer and half from employee, that is already HIGH!

 

[Ray From Cleveland]

What shovel ready jobs. LOL I recall asphalt on crappy streets and more bs. Although I don't think Biden's plan has as much pork.

Plenty of pork. In the bill they are going to bailout all their liberal cities which accumulated debt for years before anybody knew of Covid. He wants to give people on unemployment an additional $400.00 a week on top of their state unemployment collections.

 

[Ray From Cleveland]

Maybe we should have VAT that taxes consumption, everybody pays it except maybe for food and clothing. The VAT rate would be raised or lowered according to last year's deficit, if the gov't spends too much then the VAT rate goes up. LOL, yeah right, I don't think that idea will ever be legislated into law.

Not a VAT tax because it's just another hidden tax. VAT taxes are assessed to the goods manufacturers create. What would really open up the eyes of the public is a consumption tax. You pay it at the store when you buy your goods; say 10 cents on the dollar. When the debt goes up again, increase it to 12 cents on the dollar. You'd see how fast the people email their representatives about this idiotic spending like giving 40 million to the Kennedy Center and funding abortions in other countries.

 

[bendog]

What shovel ready jobs. LOL I recall asphalt on crappy streets and more bs. Although I don't think Biden's plan has as much pork.

Plenty of pork. In the bill they are going to bailout all their liberal cities which accumulated debt for years before anybody knew of Covid. He wants to give people on unemployment an additional $400.00 a week on top of their state unemployment collections.

I believe the bill "only" includes 350 billion for state and locals. I'd prefer less, because my State actually cut jobs and used part of its "rainy day" surplus, but I really doubt that is as much as those govts have already spend on covid.

 

[Claudette]

Taxing the rich is an old and often used attempt to increase revenue so the politicians can spend more on their pork projects. Except it NEVER provides the amount of extra revenue they say it will, and the rich people who can afford it move out. Look at New York today, the wealthy are leaving and the Dems are up in arms! Gotta repeal that SALT limitation, pronto! It's going to be our top priority, I'm surprised it isn't in the current Corona Relief Bill. When you raise taxes on the wealthy either by raising the rates or limiting deductions or any other way that increases their tax bill, there IS a consequence. Namely, they effing leave. And they don't invest in local and state startups and business expansions.

So, it's not about increasing revenue and deceasing thee debt/deficits. It's all about votes, and nothing more.

Yup the Dem idiots never learned what Kennedy, Reagan and Trump knew. Cutting taxes puts more money into the economy and Fed coffers than raising them ever did.

Oh and lets not forget. Those "rich" people already pay 60% of all Fed taxes already not to mention what they pay in State and Local taxes. Hell we have people in this country who don't pay taxes at all yet get a refund.

 

[Staidhup]

Biden and his cadre of tax the rich Dimbo’s are now looking to overturn the Donald’s SALT deduction limitation of $10,000 against federal income taxes. So who the hell do you think they serve? How many on this board have two homes or live in a $1,000,000 plus home? Tax the rich, as Pocahontas proposes, impose a wealth tax on those whose wealth exceeds $50,000,000 is a farce, it’s designed not toward the $50 million plus it will be universal, adjusted, all the way down to $2,000,000. I have never known a Dimbo that didn’t see a tax they didn’t like! Kiss the family farm and your savings goodbye. Hell why not tax the person, when and if they work, on their earnings, savings, retirement, assets accumulated, and their home? Why work? Hell why not live in a tent and live off the sweat that rolls down the crack of the working man or woman's ass. Too bad for the millennials, mom and dad will be forced to sell the home which means no more free ride and free computer access.

 

[pknopp]

We are $28 trillion in debt. Best way to stop that is to make people actually pay for it.

The entitlements part of the budget such as SS and Medicare are already paid from Taxes taken from the paychecks, but the whole shebang was never economically solvent in the first place. Currently Entitlements part of the federal budget is about 73% and GROWING.

Taxes will never be enough because the spending outlay is incredibly high, the Military eats up around 900 BILLION a year, more than the next 20 nations combined, that is freaking absurd!

The National Government never should have been involved in the Entitlement boondoggle in the first place, that isn't what they were created for. The rot began with FDR and their National Socialism programs, it was the Democrats who created the main problem.

Extreme partisanship like you show here is the problem.

Your inability to learn from history is YOUR problem, it was the Democrats who created SS, Medicare/Medicaid, disability, health care and more, ALL of them is part of the overblown entitlement budget that is slowly swallowing up the incoming $$$.

As already noted, S.S. and Medicare is already paid for.

Social Security and Medicare taxes are put into the general fund. For many years the deficit has been filled with IOU's. There should be a massive cushion for retirees. When the the taxes were raise in a huge way in the 1980's, we were told that Social Security was guaranteed until the 2070's. However, that prognosis was made with an annual growth of 4% a year. We of course are averaging far less. So we have surpluses for another decade at most. Which is put into the general fund currently. They will raise the social security tax in some way with raising the age also. Otherwise they will cut the social security payments to the retirees.

Get rid of the ceiling. I'm OK with that.

 

[Ray From Cleveland]

Biden and his cadre of tax the rich Dimbo’s are now looking to overturn the Donald’s SALT deduction limitation of $10,000 against federal income taxes. So who the hell do you think they serve? How many on this board have two homes or live in a $1,000,000 plus home? Tax the rich, as Pocahontas proposes, impose a wealth tax on those whose wealth exceeds $50,000,000 is a farce, it’s designed not toward the $50 million plus it will be universal, adjusted, all the way down to $2,000,000. I have never known a Dimbo that didn’t see a tax they didn’t like! Kiss the family farm and your savings goodbye. Hell why not tax the person, when and if they work, on their earnings, savings, retirement, assets accumulated, and their home? Why work?

The reason they want to eliminate that tax is because it hits blue states the hardest. A 400K home here costs almost a million over there because of the cost of living. It's the blue states that cried the loudest over that tax.