fivebyfive Posted February 4, 2019 Share Posted February 4, 2019 7 hours ago, ActionfigureJoe said: Those that take risks or innovate were around 100 years ago and are still around today. They’ll bitch and moan about the taxes, but in the end they’ll pay em and continue to innovate and create because it’s in their DNA. I have no soft spot for the wealthy in the same way I have no sympathy for the poor. https://taxfoundation.org/taxes-rich-1950-not-high/ Quote Link to comment Share on other sites More sharing options...
Dave Posted February 4, 2019 Share Posted February 4, 2019 9 minutes ago, revkevsdi said: Funny how 70%!of Americans polled agree with raising taxes on the rich and the people on here argue against it. I thought they liked democracy. So less then 2000 people means most Americans want 70% Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted February 4, 2019 Share Posted February 4, 2019 2 minutes ago, DAVE said: So less then 2000 people means most Americans want 70% Perhaps we should wait until they contact 330 million and tally the votes. Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted February 5, 2019 Share Posted February 5, 2019 5 minutes ago, fivebyfive said: https://taxfoundation.org/taxes-rich-1950-not-high/ nt of taxpayers paid an average of 42.0 percent of their income in federal, state, and local taxes. Since then, the average effective tax rate of the top 1 percent has declined slightly overall. In 2014, the top 1 percent of taxpayers paid an average tax rate of 36.4 percent. 2014 was before Trump reduced their taxes by 3.3 percent. So its closer to 33 percent instead of 42%. 9% of 10 million is $900,000.00 per year. The trump tax cut gave $1,700 to a family making $50-75 grand. 900,000/1700. Is 530 families. Those 530’families would increase the economy more than the one rich guy would. https://www.washingtonpost.com/news/wonk/wp/2017/12/06/the-richest-1-percent-now-owns-more-of-the-countrys-wealth-than-at-any-time-in-the-past-50-years/?noredirect=on&utm_term=.45ec99fa9657 You have to be stupid to think the top 1 percent collected 40% of the wealth by working harder and smarter than everyone else. Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted February 5, 2019 Share Posted February 5, 2019 12 minutes ago, DAVE said: So less then 2000 people means most Americans want 70% Besides. Trump is letting 10 of the wealthiest people decide who gets the breaks. Quote Link to comment Share on other sites More sharing options...
Dave Posted February 5, 2019 Share Posted February 5, 2019 Just now, revkevsdi said: Besides. Trump is letting 10 of the wealthiest people decide who gets the breaks. Maybe he should let the people who dont contribute decide. 1 Quote Link to comment Share on other sites More sharing options...
Momorider Posted February 5, 2019 Share Posted February 5, 2019 6 minutes ago, revkevsdi said: Besides. Trump is letting 10 of the wealthiest people decide who gets the breaks. 1 Quote Link to comment Share on other sites More sharing options...
fivebyfive Posted February 5, 2019 Share Posted February 5, 2019 11 minutes ago, revkevsdi said: nt of taxpayers paid an average of 42.0 percent of their income in federal, state, and local taxes. Since then, the average effective tax rate of the top 1 percent has declined slightly overall. In 2014, the top 1 percent of taxpayers paid an average tax rate of 36.4 percent. 2014 was before Trump reduced their taxes by 3.3 percent. So its closer to 33 percent instead of 42%. 9% of 10 million is $900,000.00 per year. The trump tax cut gave $1,700 to a family making $50-75 grand. 900,000/1700. Is 530 families. Those 530’families would increase the economy more than the one rich guy would. https://www.washingtonpost.com/news/wonk/wp/2017/12/06/the-richest-1-percent-now-owns-more-of-the-countrys-wealth-than-at-any-time-in-the-past-50-years/?noredirect=on&utm_term=.45ec99fa9657 You have to be stupid to think the top 1 percent collected 40% of the wealth by working harder and smarter than everyone else. https://fred.stlouisfed.org/series/FYFRGDA188S The fact is that the time period during which we had the 90% plus marginal rates, the effective rates were much closer to what they are now. And the tax collections as a percentage of GDP are actually equal to or greater now, versus then. Consider this. Who benefits most from a higher marginal rate? Ironically I think it's the very people who would ostensibly be the target of those tax rates. The ultra rich simply hire an army of tax lawyers and CPA's to shelter their tax burden, while those of lesser means have no such ability. And if the ultra wealthy can't shelter enough of their income to satisfy their objective, they will simply move their wealth and/or businesses offshore. So in the end, who really pays more taxes in that scenario? I think it's worth thinking about. 1 Quote Link to comment Share on other sites More sharing options...
motonoggin Posted February 5, 2019 Share Posted February 5, 2019 1 Quote Link to comment Share on other sites More sharing options...
Cold War Posted February 5, 2019 Share Posted February 5, 2019 How many do you think would be in favor of the government taking 70% of their one million dollar power ball winnings ? Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted February 5, 2019 Share Posted February 5, 2019 1 hour ago, revkevsdi said: nt of taxpayers paid an average of 42.0 percent of their income in federal, state, and local taxes. Since then, the average effective tax rate of the top 1 percent has declined slightly overall. In 2014, the top 1 percent of taxpayers paid an average tax rate of 36.4 percent. 2014 was before Trump reduced their taxes by 3.3 percent. So its closer to 33 percent instead of 42%. 9% of 10 million is $900,000.00 per year. The trump tax cut gave $1,700 to a family making $50-75 grand. 900,000/1700. Is 530 families. Those 530’families would increase the economy more than the one rich guy would. https://www.washingtonpost.com/news/wonk/wp/2017/12/06/the-richest-1-percent-now-owns-more-of-the-countrys-wealth-than-at-any-time-in-the-past-50-years/?noredirect=on&utm_term=.45ec99fa9657 You have to be stupid to think the top 1 percent collected 40% of the wealth by working harder and smarter than everyone else. You didn't do to well in math. Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted February 5, 2019 Share Posted February 5, 2019 24 minutes ago, ArcticCrusher said: You didn't do to well in math. Spell it out or shut up. Quote Link to comment Share on other sites More sharing options...
Dave Posted February 5, 2019 Share Posted February 5, 2019 24 minutes ago, ArcticCrusher said: You didn't do to well in math. He has alot in common with Trump...his daddy gave him everything too. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted February 5, 2019 Platinum Contributing Member Share Posted February 5, 2019 1 hour ago, revkevsdi said: Spell it out or shut up. 9% of 10 million is $900,000.00 per year. Quote Link to comment Share on other sites More sharing options...
motonoggin Posted February 5, 2019 Share Posted February 5, 2019 Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted February 5, 2019 Share Posted February 5, 2019 7 hours ago, steve from amherst said: 9% of 10 million is $900,000.00 per year. Do you think that is incorrect? Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted February 5, 2019 Share Posted February 5, 2019 6 hours ago, motonoggin said: Perhaps it makes them feel important to argue against these taxes. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted February 5, 2019 Share Posted February 5, 2019 11 hours ago, revkevsdi said: Spell it out or shut up. They made it by having their money work for them, instead of dumb fucks like yourself. What is the tax rate on long term capital gains in the USA? 20% max. I love how the sheep throw around tax rates for the wealthy. He is the thing, when you have as much aftertax wealth as these folks do, that capital becomes portable and much of their income can come from various tax efficient sources or they just tell the USA to go fuck themselves. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted February 5, 2019 Share Posted February 5, 2019 1 hour ago, revkevsdi said: Do you think that is incorrect? Is that what someone should be making on a 10 mil investment? 900000x0.2 = 180K owed in taxes if done right? Quote Link to comment Share on other sites More sharing options...
XCR1250 Posted February 5, 2019 Share Posted February 5, 2019 The Democrat Party today announced that it is changing its symbol from the Donkey to a Condom because it more accurately reflects the Party's political stance. A condom allows for inflation, halts production, destroys the next generation, protects a bunch of dicks, and gives you a sense of security while you're actually being screwed! Quote Link to comment Share on other sites More sharing options...
Cold War Posted February 5, 2019 Share Posted February 5, 2019 I will never come close to being a woman, black, or gay. Yet, I am against the government unfairly targeting these groups. The liberal mind is so fucked up. Quote Link to comment Share on other sites More sharing options...
motonoggin Posted February 5, 2019 Share Posted February 5, 2019 25 minutes ago, Cold War said: I will never come close to being a woman, black, or gay. Yet, I am against the government unfairly targeting these groups. The liberal mind is so fucked up. Quote Link to comment Share on other sites More sharing options...
DriftBusta Posted February 5, 2019 Share Posted February 5, 2019 5 minutes ago, motonoggin said: You’re so edgy Dan. Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted February 5, 2019 Share Posted February 5, 2019 42 minutes ago, ArcticCrusher said: Is that what someone should be making on a 10 mil investment? 900000x0.2 = 180K owed in taxes if done right? And you accused me of not being good at math. Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted February 5, 2019 Share Posted February 5, 2019 46 minutes ago, ArcticCrusher said: They made it by having their money work for them, instead of dumb fucks like yourself. What is the tax rate on long term capital gains in the USA? 20% max. I love how the sheep throw around tax rates for the wealthy. He is the thing, when you have as much aftertax wealth as these folks do, that capital becomes portable and much of their income can come from various tax efficient sources or they just tell the USA to go fuck themselves. Where? People always claim the money will leave. If they are closing the money laundering tax havens, where is the money going to go? Quote Link to comment Share on other sites More sharing options...
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