This is why we need to tax the wealthy

[SweetTea]

LOL, you love that FREE money but now you don't want to pay for it. Typical greedy American.

I didn't say that and what free money are you talking about? I pay plenty in taxes every year and far more than the average on a percentage basis. All I said was that we need to cut spending and cut taxes. You want to cut spending and raise taxes, which will ultimately destroy the economy.

 

[pknopp]

Raising capital gains is on everyone

https://www.axios.com/2024/01/10/wealthy-own-record-share-stock-market

 

[BluesLegend]

lol none of that actually means anything if the effective tax rate is still 25%

The effective rate is 100% meaningless, the fact is of the actual tax dollars paid the top 10% paid 71% of them, even though they only earned 48% of the income. EXPOSING NAKED the lying Dem narrative. Your ancestors felt that fact based beating lib.

 

[SweetTea]

Raising capital gains is on everyone

Ultimately, yes, I agree.

 

[pknopp]

I didn't say that and what free money are you talking about?

I'm wasting my time. You mention the free money everyone got and then ask me what free money I'm speaking about.

 

[SweetTea]

https://www.axios.com/2024/01/10/wealthy-own-record-share-stock-market

Envy will consume you if you are not careful.

 

[SweetTea]

I'm wasting my time. You mention the free money everyone got and then ask me what free money I'm speaking about.

Everyone didn't get free money. I didn't get any stimulus because I make too much money. I also don't quality for the child tax credit or the EITC. Funny huh?

 

[pknopp]

Envy will consume you if you are not careful.

It's not about me. Again, me, me, me. Greedy Americans. It's about future generations that are going to face very negative repercussions for our debt we refuse to address.

 

[Billy000]

What is wrong with 25% when the bottom 50% pay far, far less?

They pay a lot RELATIVE to their income when considering the summary of all their tax liabilities put together. You do realize that obviously they are going to pay less inevitably right?

 

[SweetTea]

It's not about me. Again, me, me, me. Greedy Americans. It's about future generations that are going to face very negative repercussions for our debt we refuse to address.

I never said we shouldn't address the debt. I simply said we need to cut spending and taxes. You want to cut spending and raise taxes.

 

[Billy000]

The effective rate is 100% meaningless, the fact is of the actual tax dollars paid the top 10% paid 71% of them, even though they only earned 48% of the income. EXPOSING NAKED the lying Dem narrative. Your ancestors felt that fact based beating lib.

I understand how you idiots don’t understand how this works. If poor people paid 100% of their income in taxes, it is still going to be less than what millionaires pay.

 

[SweetTea]

They pay a lot RELATIVE to their income when considering the summary of all their tax liabilities put together. You do realize that obviously they are going to pay less inevitably right?

Yes, I realize that. That is precisely why we use percentages instead of raw numbers. How exactly are the bottom 50% tax liabilities higher than the top 50%? I would argue exactly the opposite.

 

[jc456]

Ultimately, yes, I agree.

Ultimately, everyone pays

 

[BluesLegend]

I understand how you idiots don’t understand how this works.

LMAO 71% of the tax dollars came from the top 10% **** did you flunk out in 2nd grade?

 

[SweetTea]

I understand how you idiots don’t understand how this works. If poor people paid 100% of their income in taxes, it is still going to be less than what millionaires pay.

The top brackets pay a higher percentage of taxes. They have a higher marginal tax rate(percentage). What don' you understand about this? No one is talking about raw numbers here.

 

[Billy000]

Yes, I realize that. That is precisely why we use percentages instead of raw numbers. How exactly are the bottom 50% tax liabilities higher than the top 50%? I would argue exactly the opposite.

Okay you do realize that if, theoretically, poor people paid 100% of their income in taxes they would still be paying less than what millionaires would pay. Doesn’t that mean anything to you?

 

[SweetTea]

Okay you do realize that if, theoretically, poor people paid 100% of their income in taxes they would still be paying less than what millionaires would pay. Doesn’t that mean anything to you?

I guess I just don't understand your point. Nobody is saying they should pay the same amount in raw dollars. That wouldn't make any sense. What we are saying is that the top brackets pay a higher percentage of their income to the government than the lower brackets. The left-wing false rhetoric is that this is not the case. It is patently false.

 

[Billy000]

The top brackets pay a higher percentage of taxes. They have a higher marginal tax rate(percentage). What don' you understand about this? No one is talking about raw numbers here.

Yes but obviously it ******* means something when we are talking about the sheer difference in incomes here. Millionaires can EASILY afford to pay a 25% tax rate in comparison to a poor person paying the same percentage. More importantly, if you want to adequately pay for government revenue, the rich MUST pay more to pay those bills. If the government decided to to tax poor people 100%, if wouldn’t make much of a dent in the budget anyway.

 

[SweetTea]

Yes but obviously it ******* means something when we are talking about the sheer difference in incomes here. Millionaires can EASILY afford to pay a 25% tax rate in comparison to a poor person paying the same percentage. More importantly, if you want to adequately pay for government revenue, the rich MUST pay more to pay those bills. If the government decided to to tax poor people 100%, if wouldn’t make much of a dent in the budget anyway.

What you don't seem to understand is that the top brackets do pay a higher marginal rate. They are doing exactly as you said they should do and yet you still buy into the mantra that they must "pay their fair share."

Elon Musk could "EASILY afford" to pay 99.99% of his income and still eat, but that is really the point is it?

 

[Billy000]

I guess I just don't understand your point. Nobody is saying they should pay the same amount in raw dollars. That wouldn't make any sense. What we are saying is that the top brackets pay a higher percentage of their income to the government than the lower brackets. The left-wing false rhetoric is that this is not the case. It is patently false.

I’m not even suggesting you’re wrong. I’m just putting into perspective the official tax rate and the effective. In other words, it is fallacious for you to suggest the rich EFFECTIVELY pay a lot in taxes. I’m closer to being right than you are. I’m also saying the rich must pay a higher rate simply because it is economically viable. You really think our deficit isn’t high because of tax cuts?