The left's "Tax the Rich" mantra is actually a lie

[BluesLegend]

No they’re not. Most small businesses are owned by a sole proprieter, or a partnership between two three individuals. Many net out around $50,000 for the owner. You have some misguided idea that “small businesses” are the evil rich guy, ripping off other people.

Is this where the hostility for small business comes from (from liberals)?

When Dem propaganda claims the 'rich' aren't paying their fair share 10,000 times this is what happens.

 

[BluesLegend]

Congratulations on being the only person on my ignore list
View attachment 555609

Alrighty then.

 

[g5000]

This data can be downloaded from the IRS, yet the Democrats still ramble on about making the upper income earners pay their "fair share." According to the Tax Policy Center, 61% of Americans pay no federal income taxes. Guess who that 61% is?

"Incredibly, in 2020, approximately 61% of Americans paid no federal income taxes, according to the Tax Policy Center. Therefore, approximately 39% of Americans paid all federal income taxes. They are rewarded for this staggering largess by being told they need to "pay their fair share." Their "fair share," one might logically surmise, would be around 39% of the federal income taxes paid, not 100%. The top 20% of income earners pay about 67% of federal taxes..."

61% Of Americans paid no federal income taxes in 2020? Who's greedy?

But hang tight and don't worry folks. President Joe is gonna make sure you 61-percenters pay your fair share next year.

The 61% figure is temporary due to the pandemic and stimulus payments. It will eventually drop back down to the norm of around 45%.

But the "tax the rich" mantra from the Left is total horseshit. The problem is not that we aren't taxing the rich enough. The problem is that we have not had a Congress or a President who gives a shit about federal deficits in over a century.

Revenues have been steadily increasing for decades, and yet the federal government always finds a way to spend more than it takes in. Taking more from the rich will just result in even more overspending.

Conversely, the Right blaming the poor and Mexicans for our problems is also total horseshit. EVERYONE has their face in the trough. We give away $1.4 trillion a year in deductions, credits, and exemptions. That shortfall has to be made up for with higher tax rates and borrowing.

So I don't blame our politicians for spending like crazy. I blame each and every one of us. "Gimme gimme gimme, and make that guy over there pay for it."

Our politicians do exactly what we demand of them. We demand they give us "free shit", then get mad when they give free shit to someone else. The hypocrisy is beyond belief.

We get the politicians we deserve.

 

[Lisa558]

The hostility is coming from others....not me. And I'm not a liberal. Try again.

Seemed hostile when you (wrongly) complained how businesses owners get away with not having to pay taxes until the very end of the year.

 

[the other mike]

The benefits of growth these past 45 years were captured by those at the very top. And as the American economy grows radically unequal it is holding back economic growth itself.

 

[the other mike]

.....you (wrongly) complained how businesses owners get away with not having to pay taxes until the very end of the year.

Did I ?

 

[Lisa558]

When Dem propaganda claims the 'rich' aren't paying their fair share 10,000 times this is what happens.

The top 1% pay 40% of all income taxes, and the bottom 50% pay 3%. But shhhhh……

In 1 Chart, How Much the Rich Pay in Taxes

Sen. Elizabeth Warren (D-MA) holds a news conference to announce legislation that would tax the net worth of America's wealthiest individuals at the U.S. Capitol on March 01, 2021 in Washington, D.C.

www.heritage.org

 

[BluesLegend]

I started off eating government cheese, powdered milk, living in section 8 housing with my single mother of 5. I have cleaned toilets for a living. Picked vegetables on a farm. Now I'm in the top 3% thanks in part to the top 1%. I'm happy to assist the less fortunate but I don't want to hear any BS about how the 'rich' stole their wealth.

 

[g5000]

The OP author once said, "Might as well break Obama's debt record, seeing as how Trump has broken every other Obama record. I personally don't give a crap about debt. Easy come, easy go, and at least I'm getting my money's worth now."

How ironic a dipshit who named himself after Ayn Rand's iconic character would say a thing like that. That statement of his is about as leeching and hypocritical as it gets. He is the epitome of "Gimme gimme gimme and make that guy over there pay for it."

He just gave a Disagree reaction to my last post. It's amazing these dipshits' heads don't explode from cognitive dissonance, but then again that requires actual cognition.

 

[Lisa558]

Did I ?

Yes. You said how “working people” (as if business owners don’t work) have to pay taxes throughout the year while business owners pay once a year, in a lump sum. We corrected your misconception and explained the requirement of quarterly taxes.

 

[Mikeoxenormous]

I'm posting this again to hopefully bypass BluesLegend 's trolling. Please read the entire post before responding.

The transfer of wealth over the last 40 years from the bottom 90% to the top is well over $50 trillion, not even counting the national debt -now approaching $30 trillion.

Taxing that back would be impossible without major capital gains and estate taxes which will never pass through Congress.

It would be like removing all the fish from the ocean and then waiting for them to evolve back.

That money's gone.

The Top 1% of Americans Have Taken $50 Trillion From the Bottom 90%—And That's Made the U.S. Less Secure

A report shows that a $50 trillion redistribution of income to benefit the richest has made America less healthy, resilient, and secure

time.com

How did that transfer happen, did the lower bottom 90% go out into the world and gave up their money to buy goods and services provided by the top 10%?

 

[Manonthestreet]

 

[BluesLegend]

Yes. You said how “working people” (as if business owners don’t work) have to pay taxes throughout the year while business owners pay once a year, in a lump sum. We corrected your misconception and explained the requirement of quarterly taxes.

The Federal government alone siphons off 15.3% from self employed people just for Social Security and Medicare and we know what a crap deal the benefits are. They are trying to raise the age high enough that most people die before they can collect a cent. Then federal, state and local income taxes on top of that plus all the other taxes and fees, now we know why so many small businesses fail.

 

[BluesLegend]

View attachment 555611

With another $80 billion for the IRS to fund audits.

 

[Lisa558]

The Federal government alone siphons off 15.3% from self employed people just for Social Security and Medicare and we know what a crap deal the benefits are. They are trying to raise the age high enough that most people die before they can collect a cent. Then federal, state and local income taxes on top of that plus all the other taxes and fees, now we know why so many small businesses fail.

I paid around 50% of my earnings in taxes. And that’s not the MARGINAL rate. That’s the total.

 

[Lisa558]

With another $80 billion for the IRS to fund audits.

They’re going to weaponize the IRS to make life miserable for dissenters. Remember Lois Lerner?

 

[the other mike]

How did that transfer happen, did the lower bottom 90% go out into the world and gave up their money to buy goods and services provided by the top 10%?

The system was rigged.
How many billionaires were there in 1985?
Do you remember ?

 

[the other mike]

Yes. You said how “working people” (as if business owners don’t work) have to pay taxes throughout the year while business owners pay once a year, in a lump sum. We corrected your misconception and explained the requirement of quarterly taxes.

I'm not the one who said that, twisted sister.
Is everyone drunk tonight except me?

 

[the other mike]

Maybe they'll believe an article from Business Insider.

I'm beginning to wonder why I voted for Trump last year, if you folks are my 'peers'.

The wealthiest 1% has taken $50 trillion from working Americans and redistributed it, a new study finds. Here's what that means.

If it feels like you're working harder for less money than your parents' and grandparents' generations, that's because you are.

www.businessinsider.com

 

[Mikeoxenormous]

The system was rigged.
How many billionaires were there in 1985?
Do you remember ?

Bwaaaahhaaaaaa......The system is rigged? I learned how to invest, just like those cheaters and amassed a very large fortune and use every Progressive tax loophole that Congress Democrat uses. If you were smarter you also could do the same, but then you wouldnt be a Democrat voter then.

Nancy Pelosi Net Worth

What is Nancy Pelosi's net worth?

www.celebritynetworth.com

Talk about cheaters, try looking at the Democrook party who uses insider trading to make their fortune.