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fivebyfive

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    Soak the rich? Americans say go for it

    in Current Events

    Posted

    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.

     

    • Like 1

    Congrats....

    in Current Events

    Posted

    1 minute ago, Zambroski said:

    Good first post.  We think he is part of the Trump campaign though.  He's creating votes for Trump that never existed here before.  :bc:

    It's an ingenious plan on Trump's part...employ supposed Clinton liberal lackeys and retards to throw up worthless Clinton propaganda Memes, comics, and lies and call everybody else stupid while doing so.  Brilliant!

    You make a good point. 

    Congrats....

    in Current Events

    Posted · Edited by fivebyfive

    I don't post often, but having read most of your posts I must say I don't believe you are for real.  No fucking way.  You are a robotroll.  Probably created and deployed by the Clinton campaign machine.  I'm convinced. 

    Quote

    To many of you for supporting the most egregious liar in American political history.  Many have made this a central focus of this election cycle - beings you don't have a candidate with ideas :lol: - so I'll assume it's safe to say Honest Hillary has earned your vote :snack:

     

     

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