Who thinks Trump's Core Economic Policy will be more Massive Tax cus to the ultra wealthy??

[Hector12]

The tax system is not nearly as progressive as it was during the 1950's. back then the top tax rate never got below 84.36%, and was sometimes as high as 92%.

The high top tax rate isn't what makes it progressive.

What percentage of the taxes were paid by the top 20%? By the top 1%?
They pay a much larger portion now than they did then.

Document your assertion, the way I documented mine.

 

[Meister]

Bush II and Trump raised military spending while cutting taxes. If it was necessary to raise military spending it was necessary to raise taxes to pay for it.

So military spending is the only spending our government has?
You're nuts, dude. While were at it, let's talk about oversight over our spending too.

 

[Meister]

The tax system is not nearly as progressive as it was during the 1950's. back then the top tax rate never got below 84.36%, and was sometimes as high as 92%.
https://www.irs.gov/pub/irs-soi/02inpetr.pdf

Sure, if you took away all the tax deductions they were privy to.

 

[JimH52]

The Bush and Trump tax cuts are the main reason for our out of control deficits as independent, non-partisan groups have estimated that they have added at least $10T to the deficit.

Republicans have the nerve to complain about deficits and even shut down the government, but their tax cuts and big spending bills are the reason the deficit is so large.
In 1993 Bill Clinton passed the deficit reduction act that raised taxes on the wealthy, cut military and other spending, and gave us the Bill Clinton balanced Budget.
GW Bush and Trump did the complete opposite of Bill Clinton and handed out trillions in tax cuts to the ultra wealthy and jacked up military and other spending massively. Bush and the GOP destroyed the balanced budget, ruined it with their policy, then Trump turned it into a $3T/yr deficit. In 2000 to start the Bush presidency we had a balanced budget, at the end of the failed Trump presidency we had $3T/yr deficits. Bush and Trump bankrupted America and their massive tax cuts to the ultra wealthy were the main reason why.

I bet Trump is going to have the same economic policy of more massive tax cuts that blow up the deficit even more. Then the republicans are going to try and blame the democrats for all the debt that the republicans create.

Tax Cuts Are Primarily Responsible for the Increasing Debt Ratio

Without the Bush and Trump tax cuts, debt as a percentage of the economy would be declining permanently.

www.americanprogress.org

trump will not be able to do much from inside a jail cell....just saying....

 

[Hector12]

Sure, if you took away all the tax deductions they were privy to.

The rich still paid a higher percentage of their income in taxes. A high top tax rate gives the government power over the economy behavior of rich people.

 

[Hector12]

So military spending is the only spending our government has?
You're nuts, dude. While were at it, let's talk about oversight over our spending too.

Domestic spending rarely increases under Republican presidents. Usually it is cut.

 

[Meister]

The rich still paid a higher percentage of their income in taxes. A high top tax rate gives the government power over the economy behavior of rich people.

Nobody came close to paying 84-92% tax rate back then.

 

[Toddsterpatriot]

Document your assertion, the way I documented mine.

Who Pays Income Taxes?

(pdf) It is a common refrain from some politicians that the rich are not paying their fair share of income taxes. This sentiment is echoed by findings from a Pew Research poll conducted last April, which indicated that a significant portion of respondents feel that wealthy individuals do not...

www.ntu.org

 

[Hector12]

View attachment 848919

Who Pays Income Taxes?

(pdf) It is a common refrain from some politicians that the rich are not paying their fair share of income taxes. This sentiment is echoed by findings from a Pew Research poll conducted last April, which indicated that a significant portion of respondents feel that wealthy individuals do not...

www.ntu.org

Your chart exceeds the bounds of credibility. Just because you find something on the internet that confirms what you want to believe does not mean that it is true.

 

[Redfish]

trump will not be able to do much from inside a jail cell....just saying....

Trump is not going to jail, but Biden and Obama may be.

 

[Redfish]

Your chart exceeds the bounds of credibility. Just because you find something on the internet that confirms what you want to believe does not mean that it is true.

that chart is factual, deal with reality for once.

 

[Toddsterpatriot]

Your chart exceeds the bounds of credibility. Just because you find something on the internet that confirms what you want to believe does not mean that it is true.

You're free to look for one that shows the rich pay a lower portion.
The source for that chart goes back to the IRS.

 

[Toddsterpatriot]

Your chart exceeds the bounds of credibility. Just because you find something on the internet that confirms what you want to believe does not mean that it is true.

No luck refuting my chart?

 

[Hector12]

No luck refuting my chart?

It does not make sense that when the top tax rate is 37% the richest 1% of the population will pay 42% of their incomes in income taxes.

 

[Toddsterpatriot]

It does not make sense that when the top tax rate is 37% the richest 1% of the population will pay 42% of their incomes in income taxes.

That's not what the chart says at all.
It says that for every $100 in federal income tax collected in 2020,
the top 1% paid $42.30 at a 37% top rate, up from 1980
when the top 1% paid only $19.30 of every $100 collected at a top rate of 70%.

 

[Hector12]

That's not what the chart says at all.
It says that for every $100 in federal income tax collected in 2020,
the top 1% paid $42.30 at a 37% top rate, up from 1980
when the top 1% paid only $19.30 of every $100 collected at a top rate of 70%.

$42.30 is more than 37% of $100.

 

[Toddsterpatriot]

$42.30 is more than 37% of $100.

Why are you conflating income with taxes paid?
No one is talking about $100 of income.

The government collected $100. $42.30 is from the 1%.

 

[Hector12]

Why are you conflating income with taxes paid?
No one is talking about $100 of income.

The government collected $100. $42.30 is from the 1%.

Are you trying to tell me that rich people pay a higher percentage of their income in income taxes now than in 1980? That does not pass the laugh test.

 

[Toddsterpatriot]

Are you trying to tell me that rich people pay a higher percentage of their income in income taxes now than in 1980? That does not pass the laugh test.

No, you illiterate moron.
I'm saying they pay a higher percentage of all federal tax revenue
than they did in 1980. More than double the percentage of tax revenue
they paid in 1980.

 

[Hector12]

No, you illiterate moron.
I'm saying they pay a higher percentage of all federal tax revenue
than they did in 1980. More than double the percentage of tax revenue
they paid in 1980.

If what you say is true, it is also true that they make a much higher percentage of all income.