Why don't you want to tax the rich?

[rightwinger]

This is why Steve Forbes campaigned for years for a "flat" tax that would nullify a lot of those incentives and just force people to pay a "reasonable" percentage of their income (16-19%, if I remember correctly) with no deductions.

Because there is no flat tax that results in the wealthy paying more and the working poor paying less

 

[Nostra]

Because there is no flat tax that results in the wealthy paying more and the working poor paying less

Huh?

Let’s do some simple math for the simpleton here:

Flat tax of say, 10%

Poor guy making $50K of taxable income: Taxes $5000

Rich guy making $500,000 of taxable income: Taxes $50,000.

You suck at math, and life.

 

[HikerGuy83]

Tax the poor

MAGA Economics

^^^ No examples or links ^^^

Left wing "arguments"

 

[Nostra]

Huh?

Let’s do some simple math for the simpleton here:

Flat tax of say, 10%

Poor guy making $50K of taxable income: Taxes $5000

Rich guy making $500,000 of taxable income: Taxes $50,000.

You suck at math, and life.

; crickets: from rightwinger

 

[Admiral Rockwell Tory]

post them

Saw them in an i ter few o. FOX NEWS.

 

[Robert W]

I believe that most Americans who are not on the dole have a problem, ethically, with the Government taking more than half of a person's earnings, regardless of anything else. In fact, I think that most Americans consider the 37% top marginal tax rate to be pretty "fair," all things considered...like the additional tax burdens that we all share: State taxes, local income taxes, property taxes, sales taxes, and so on. The perception is that at 37% to the IRS, those top earners are paying about half their incomes in aggregate taxes, which is enough.

A little-understood problem with that is that the people with the highest earnings are usually not people with enormous salaries like professional sports stars, corporate CEO's, and entertainers. Most of them are entrepreneurs and investors, whose "salary" is modest or non-existent. And those people have a great deal of flexibility in how, whether, and when they recognize income. Hell, most of them could arrange their financial affairs so that they have zero taxable income in any chosen year. They just borrow money from themselves and live on the borrowed money. The Internal Revenue Code incentivizes all sorts of activity for perceived economic benefits - mainly accelerated depreciation of capital assets - and the highest income people (and C-Corps) take advantage of those incentives to minimize or eliminate their tax burden.

This is why Steve Forbes campaigned for years for a "flat" tax that would nullify a lot of those incentives and just force people to pay a "reasonable" percentage of their income (16-19%, if I remember correctly) with no deductions. This would actually capture MORE taxes from the highest earners because they would consider it fair, and stop juking and jiving around to minimize their taxes. But it would hit the working class pretty hard, as they pay next to nothing under the current income tax regime.

But as others have said, "we" don't have a problem with too little income tax revenue; the problem is with out-of-control spending, much of which is unconstitutional. Sorry.

The current very unfair system is set up to allow the men and women we supposedly can trust to jack up taxes on a minimum number hoping to pay the bills they commit to. Feeling if you level no taxes at all on 40 percent, supposedly they call that fair. But the debt is staggering, and the best system eliminates debt that the feds pay interest on. But it punishes a group of civilians merely due to their ability to rake in a higher income. It is like the robber shows up at your home and demands paperwork to snoop into your income and demands you pay a very large amount to the robber who has all of the control over the bills and the majority of the debts of the Federal Government.

 

[g5000]

government spending needs to be cut

And yet whenever I say we should ban all tax expenditures except the EITC, it is the Trumptards who scream like welfare queens the loudest.

That one spending cut would not only balance the budget, it would provide a surplus which could be used to pay down the debt and ultimately allow for a tax cut for everyone.

If we also raise the SS and Medicare eligibility age to 70, and index to 9 percent of the population going forward, we could pay down the debt and cut tax rates in no time.

We are living decades longer than our ancestors. We should be working longer.

Now watch the entitlement whiners come out of the woodwork.

 

[Robert W]

And yet whenever I say we should ban all tax expenditures except the EITC, it is the Trumptards who scream like welfare queens the loudest.

You qualify as a Democrat of course and are the sole person discussing your issue.

 

[g5000]

You qualify as a Democrat of course and are the sole person discussing your issue.

Hey, dumbass. Cutting tax expenditures is as core conservative as it gets.

Pull your stupid false dichotomy head out of your fat ass.

Do you know how Reagan was able to lower tax rates?

By cutting tax expenditures.

Idiot.


Oh, and by the way. One of the tax expenditures he eliminated was the car loan interest rate deduction which your far left New York liberal Democrat cult leader wants to put back in the tax code for you welfare queens.

 

[Robert W]

Hey, dumbass. Cutting tax expenditures is as core conservative as it gets.

Pull your stupid false dichotomy head out of your fat ass.

Do you know how Reagan was able to lower tax rates?

By cutting tax expenditures.

Idiot.


Oh, and by the way. One of the tax expenditures he eliminated was the car loan interest rate deduction which your far left New York liberal Democrat cult leader wants to put back in the tax code for you welfare queens.

You headed off a person that posted to cut spending. Acted like he was spilling nonsense.

 

[g5000]

You headed off a person that posted to cut spending. Acted like he was spilling nonsense.

I hear weak-minded idiots talk about cutting spending all the time, but never hear specifics from them.

Their favorite pasttime is usually to go after the poor as if they are the root of all our problems.

I give specifics.

Tax expenditures and the Social Security and Medicare eligibility ages.

Core conservative principles.

The Trump cult is so far off the reservation, they have no clue what conservatism really is. They think it has something to do with needing to be cruel.

 

[JWBooth]

If you are opposed, why?

Why do you oppose aggressive taxation of people making more than $250,000+ a year or $400,000+ a year annually?

No rational argument has been made to do so.
Why do you oppose slashing government to the point that current revenues will cover spending and pay off the debt?

 

[g5000]

No rational argument has been made to do so.
Why do you oppose slashing government to the point that current revenues will cover spending and pay off the debt?

What slashes would you make?

 

[BluesLegend]

It pisses the left off to no end that they can't convince people to tax the rich. You should see some of the schemes they have pitched on the west coast.

 

[Robert W]

I hear weak-minded idiots talk about cutting spending all the time, but never hear specifics from them.

Their favorite pasttime is usually to go after the poor as if they are the root of all our problems.

I give specifics.

Tax expenditures and the Social Security and Medicare eligibility ages.

Core conservative principles.

The Trump cult is so far off the reservation, they have no clue what conservatism really is. They think it has something to do with needing to be cruel.

Generally, since so few posters have served time setting up large budgets, which I did for a number of years for a corporation, they can't point to specifics at all. What does this mean?

"Tax expenditures and the Social Security and Medicare eligibility ages."

By the way, the poor is very vague. Best to discuss the economy in 20 percent brackets meaning there are 5 using that standard.

 

[Robert W]

What slashes would you make?

We approach taxes from the wrong end. We should convert to a pure Sales tax system.

 

[g5000]

Generally, since so few posters have served time setting up large budgets, which I did for a number of years for a corporation, they can't point to specifics at all. What does this mean?

"Tax expenditures and the Social Security and Medicare eligibility ages."

Tax expenditures are all deductions, credits, and exemptions. They are everything conservatism is against, and they add up to at least $1.6 trillion of spending ANNUALLY.

There's your deficit right there.

Tax expenditures are direct government interference in the free market. They are direct government redistribution of wealth.

Every tax expenditure has to be offset with either higher tax rates or government borrowing (deficits), and in fact result in both. Tax expenditures are therefore theft. Robbing Peter to pay Paul.

Without tax expenditures, there would be no deficits and no debt.

We exist in an insane system where two people or businesses earning identical incomes pay radically different amounts of tax. It all depends who was more successful at bribing our politicians into putting those giveaways in the tax code.

You are punished with higher tax if you don't breed.

You are punished with higher tax if you don't have a mortage. And it is a fact that your house costs up to 27 percent more because of the mortgage interest deduction.

Who benefits from a higher home cost?

Your banker. Your realtor. Your home builder. That's why the real estate industry spends over $100 million a year on lobbying.

Tax expenditures redistribute wealth UP the food chain.

You are punished with higher tax for not buying the right kind of refrigerator.

It was no leap at all to punish you with higher taxes for not buying the right kind of health insurance. You brought that on yourselves.


Eliminate tax expenditures and everyone earning identical incomes pays identical taxes at a MUCH LOWER TAX RATE.

And we have a balanced budget.

By the way, the poor is very vague. Best to discuss the economy in 20 percent brackets meaning there are 5 using that standard.

Oh, I know "the poor" is very vague. But according to the Trump cult they are all dining on steak and champagne.

 

[leftwinger]

Tax expenditures are all deductions, credits, and exemptions

You take off $15K std deduction ($30K) married/joint many poor making $25K 50K even $75K are going to be paying taxes. They got 4 kids. They love the deductions. Are you crazy?

The deficit is already found in fraud theft waste. 20% estimated by Leon the Muskrat. At least 10%-20% FED spending just thrown away or stolen.//

 

[g5000]

This is why Steve Forbes campaigned for years for a "flat" tax that would nullify a lot of those incentives and just force people to pay a "reasonable" percentage of their income (16-19%, if I remember correctly) with no deductions.

A flat tax is extremely regressive, so of course rich people consider it "fair".

 

[g5000]

You take off $15K std deduction ($30K) married/joint many poor making $25K 50K are going to be paying taxes. They got 4 kids. They love the deductions. Are you crazy?

The standard deduction is offset with higher tax rates and deficits.

It's simple math. You are being conned with a simple math trick.

Without any deductions, credits, or exemptions, you would have a lower tax rate and everyone earning identical incomes would be paying the same amounts.

.

The deficit is already found in fraud theft waste. 29% estimated Leon the Muskrat. 10%-20% FED spending just thrown away or stolen.

Elon made those numbers up, like Trump does.

If there is so much fraud, how come Musk never referred a single person to the DOJ for fraud?

You have not one shred of evidence to support that 10-20 percent claim.

I, on the other hand, can show you $1.8 trillion of annual waste on tax expenditures.