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Thread: The New Political Thread: New Rules; New Attitude

  1. #701
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    Quote Originally Posted by Pete View Post
    Trump just cut taxes on rich and increased on middle class lol.
    What are the tax brackets?

  2. #702
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    Quote Originally Posted by rmc51 View Post
    What are the tax brackets?
    "His proposal would cut taxes at all income levels, although the largest benefits, in dollar and percentage terms, would go to the highest-income households. Federal revenues would fall by $6.2 trillion over the first decade before accounting for added interest costs.*"
    https://www.taxpolicycenter.org/publ...vised-tax-plan

    ##

    "This shows that in certain respects, the plan actually gets more regressive over time. The tax cuts for the four lower-income quintiles basically shrivel up and disappear by 2027, with the two lowest quintiles ultimately seeing either a tax hike or no change, while the middle and fourth see the tax cut dwindle away to almost nothing. By contrast, in 2027, the top one percent sees an average tax cut of more than $30,000, and the top 0.1 percent sees an average tax cut of more than $200,000 more than double what it was in 2019, and a good deal more than it was in 2025."
    https://www.google.com/amp/s/www.was...s-confirms-it/

    ^Yes it's WaPo but data is from Tax Policy Center.

    ##

    Twice as many companies paying zero tax under Trump.

    https://www.google.com/amp/s/www.nbc...amp/ncna993046

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    https://www.cnn.com/2019/04/12/polit...don/index.html
    "Trump told CBP head he'd pardon him if he were sent to jail for violating immigration law"
    "President Donald Trump told Customs and Border Protection Commissioner Kevin McAleenan he would grant McAleenan a pardon if he were sent to jail for having border agents block asylum seekers from entering the US in defiance of US law, senior administration officials tell CNN...Two officials briefed on the exchange say the President told McAleenan, since named the acting secretary of the Department of Homeland Security, that he "would pardon him if he ever went to jail for denying US entry to migrants," as one of the officials paraphrased."

    I guess he only needs to obey laws he agrees with?
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  4. #704
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    Quote Originally Posted by Pete View Post
    "His proposal would cut taxes at all income levels, although the largest benefits, in dollar and percentage terms, would go to the highest-income households. Federal revenues would fall by $6.2 trillion over the first decade before accounting for added interest costs.*"
    https://www.taxpolicycenter.org/publ...vised-tax-plan

    ##

    "This shows that in certain respects, the plan actually gets more regressive over time. The tax cuts for the four lower-income quintiles basically shrivel up and disappear by 2027, with the two lowest quintiles ultimately seeing either a tax hike or no change, while the middle and fourth see the tax cut dwindle away to almost nothing. By contrast, in 2027, the top one percent sees an average tax cut of more than $30,000, and the top 0.1 percent sees an average tax cut of more than $200,000 — more than double what it was in 2019, and a good deal more than it was in 2025."
    https://www.google.com/amp/s/www.was...s-confirms-it/

    ^Yes it's WaPo but data is from Tax Policy Center.

    ##

    Twice as many companies paying zero tax under Trump.

    https://www.google.com/amp/s/www.nbc...amp/ncna993046
    I was asking about individual tax brackets, not a corporate tax rate discussion.

    The rich pay A) a higher percentage than the middle class, and B) far more tax money in total. A comment was made that the rich can't be taxed and it was an errant statement. That was my only point.

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    Quote Originally Posted by rmc51 View Post
    I was asking about individual tax brackets, not a corporate tax rate discussion.

    The rich pay A) a higher percentage than the middle class, and B) far more tax money in total. A comment was made that the rich can't be taxed and it was an errant statement. That was my only point.
    What the rich pay is a drop in the bucket for them, regardless of percentage. $2 million taxed at 50% leaves you a million.

    $20k taxed at 25%...who's still better off?

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    Quote Originally Posted by Pete View Post
    What the rich pay is a drop in the bucket for them, regardless of percentage. $2 million taxed at 50% leaves you a million.

    $20k taxed at 25%...who's still better off?
    I don't disagree with your point. For me, it is the principal of telling the portion of rich people who have legitimately earned their way to that position that they need to pay more because we can't control our spending.

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    Quote Originally Posted by rmc51 View Post
    I don't disagree with your point. For me, it is the principal of telling the portion of rich people who have legitimately earned their way to that position that they need to pay more because we can't control our spending.
    We're telling them to either pay more or take a cut back and reinvest.

    We've just lowered their tax rates so much that the "take a cut back and reinvest" has now become less an incentive and more a loophole.

    Also, can we please stop with this pissantic narrative about "legitimately earned?" People who legitimately earned their way are the upper middle class folk getting royally fucked by our tax system, not the silver spoon inheritance trust fund crowd.
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  8. #708
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    Quote Originally Posted by rmc51 View Post
    I don't disagree with your point. For me, it is the principal of telling the portion of rich people who have legitimately earned their way to that position that they need to pay more because we can't control our spending.
    I agree with you on the spending part. So much waste.

    I also often question the percentage of the wealthy who legitimately earned their way there...

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    Quote Originally Posted by Pete View Post
    What the rich pay is a drop in the bucket for them, regardless of percentage. $2 million taxed at 50% leaves you a million.

    $20k taxed at 25%...who's still better off?
    Well then the $20K complainers should figure out how to make $2 million so they can pay $1 million in taxes.

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    Quote Originally Posted by Pete View Post
    What the rich pay is a drop in the bucket for them, regardless of percentage. $2 million taxed at 50% leaves you a million.

    $20k taxed at 25%...who's still better off?
    Pete, you're rich to 90% of the world. You're fine with losing half your earned income?
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  11. #711
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    Quote Originally Posted by NY Chief View Post
    Well then the $20K complainers should figure out how to make $2 million so they can pay $1 million in taxes.
    This doesn't even deserve a response.

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    Quote Originally Posted by josh View Post
    Pete, you're rich to 90% of the world. You're fine with losing half your earned income?
    But I'm not rich to the top 10%. And they wipe their ass with my entire net worth.

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    Quote Originally Posted by Pete View Post
    But I'm not rich to the top 10%. And they wipe their ass with my entire net worth.
    You are the top 10%.

    https://wallethacks.com/average-medi...me-in-america/

    The Middle – 50%

    Here's another number that may surprise you – to be in the top half (50%) of all earners you need to earn more than $29,999.99 a year. The number of people earning less than $30,000 accounts for 49.33% of the population.
    1%: $250,000
    5%: $130,000
    10%: $90,000
    20%: $60,000
    30%: $45,000
    40%: $35,000
    50%: $30,000
    60%: $20,000 – $24,999
    70%: $15,000
    80%: $5,000 — $9,999
    90%: $0.01 — $4,999
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  14. #714
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    Quote Originally Posted by josh View Post
    Thats salary. Not wealth. And it's not adjusted for any kind of regional discrepancy... If I moved to Delaware I'd be paid much less to do my job.

    20 minutes away from me a guy bought 2 properties for $6 million, knocked them down, and is now building an $8 million estate on the land. This won't be his full time residence.

    Please don't portray me as wealthy. I'm middle class and dependant on 2 incomes.

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    Lias Andersson for #AJT2019

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    Quote Originally Posted by josh View Post
    And yet I saw no tax cut...

    You also failed to copy and paste the part of your article that said the wealthy are ridiculously wealthy and how far ahead they were than everyone else. Because it didn't support the narrative.

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    Quote Originally Posted by Pete View Post
    And yet I saw no tax cut...

    You also failed to copy and paste the part of your article that said the wealthy are ridiculously wealthy and how far ahead they were than everyone else. Because it didn't support the narrative.
    I said 10%.

    To 90%, you are ridiculously wealthy.

    I understand where you are coming from, but there are people struggling a lot more than you. And, if some of these proposed tax increases go into effect, guess what - you're still top 10%. You will be giving away half of your income.
    I dont make as much as you, and I see welfare recipients leapfrogging me with their handouts. Soon, you'll experience the same.
    Lias Andersson for #AJT2019

  18. #718
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    Quote Originally Posted by josh View Post
    I said 10%.

    To 90%, you are ridiculously wealthy.

    I understand where you are coming from, but there are people struggling a lot more than you. And, if some of these proposed tax increases go into effect, guess what - you're still top 10%. You will be giving away half of your income.
    I dont make as much as you, and I see welfare recipients leapfrogging me with their handouts. Soon, you'll experience the same.
    I never said I was struggling. Not once. But the fact is there is a shrinking middle-class. This is my whole point about the super-rich ruling elite class. There is that kind of wealth, and then everyone else. Too few people have too much of the money and please don't tell me they've "earned it".

    And imagine how much less we'd have to tax individuals if corporations just paid taxes...

  19. #719
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    I agree. You have too much of the money.
    Lias Andersson for #AJT2019

  20. #720
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    Quote Originally Posted by josh View Post
    I agree. You have too much of the money.
    BTW. Here's difference between wealth vs wage. What group is making the biggest leaps? Hint, it isn't the low income folks.


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