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Zeets2

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slideman » 20 Jan 2023, 11:42 am » wrote: During our golden age in the late '50s and early '60s we had the highest marginal tax rates on individuals and corporations in our history. The Golden age occurred because individuals and corporations kept their investments intact rather than taking profits which would be heavily taxed.
Keep trying
In the 1950s and 1960s, when the economy was booming, the wealthiest Americans paid a top income tax rate of 91%.
Hard to believe how ignorant you stupid liberals can be!
If you bothered to do about 15 seconds of research, you might just understand that through the 1950's and 60's, the poor and middle class PAID A MUCH HIGHER MARGINAL TAX RATE THAN THEY DO TODAY!  The fact is that very few people EVER paid a rate of 91% because there were a far greater number of exemptions that were allowed at that time.

So now that you know those two facts, why don't you try to explain how it is that the tax burden on the wealthy HAS REMAINED ROUGHLY THE SAME since the 1950's DESPITE those lower tax rates of today?  Only the most ignorant (take a bow here) think that the wealthy paid far more in taxes when the rate was that high, but apparently it's easy for liberal socialists to point to that reduction as unfair, believing (as you do) that the rich are now paying far less because of that rate reduction.
THAT'S COMPLETELY FALSE!

Read this and begin to educate your stupid self.  Believe me, you have a lot to learn before you're smart enough to start a topic like this that exposes your sheer ignorance:
The Fantasy of a 91% Top Income Tax Rate
A liberal article of faith that confiscatory taxes fed the postwar boom turns out to be an Edsel of an economic idea.
Wall Street Journal By Peter Schiff Dec. 6, 2012

...the share of taxes paid by the bottom two-thirds of taxpayers has fallen dramatically over the same period. In 1958, these Americans accounted for 41.3% of adjusted gross income and paid 29% of all federal taxes. By 2010, their share of adjusted gross income had fallen to 22.5%. But their share of taxes paid fell far more dramatically—to 6.7%. The 77% decline represents the single biggest difference in the way the tax burden is shared in this country since the late 1950s.

The changes came about not so much by movements in rates but by the addition of tax credits for the poor and the elimination of exemptions for the wealthy. In 1958, even the lowest-tier filers, which included everyone making up to $5,000 annually, were subjected to an effective 20% rate. Today, almost half of all tax filers have no income-tax liability whatsoever, and many "taxpayers" actually get a net refund from the government. Those nostalgic for 1950s-era "tax fairness" should bear this in mind.

https://www.wsj.com/articles/SB10001424 ... 1554982808
 
 

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slideman

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Zeets2 » 20 Jan 2023, 1:30 pm » wrote: Hard to believe how ignorant you stupid liberals can be!
If you bothered to do about 15 seconds of research, you might just understand that through the 1950's and 60's, the poor and middle class PAID A MUCH HIGHER MARGINAL TAX RATE THAN THEY DO TODAY!  The fact is that very few people EVER paid a rate of 91% because there were a far greater number of exemptions that were allowed at that time.

So now that you know those two facts, why don't you try to explain how it is that the tax burden on the wealthy HAS REMAINED ROUGHLY THE SAME since the 1950's DESPITE those lower tax rates of today?  Only the most ignorant (take a bow here) think that the wealthy paid far more in taxes when the rate was that high, but apparently it's easy for liberal socialists to point to that reduction as unfair, believing (as you do) that the rich are now paying far less because of that rate reduction.
THAT'S COMPLETELY FALSE!

Read this and begin to educate your stupid self.  Believe me, you have a lot to learn before you're smart enough to start a topic like this that exposes your sheer ignorance:
Explain how Buffett pays less than his secretary.

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slideman

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The real truth about these rich people is no one can easily spend a billion dollars never mind 10 billion dollars.
They let their money sit in investments which are an income which is not taxed because they don't take the money out because they already have more money than they can use.
They're essentially free of taxation for most of their income.

Suckers
 

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slideman

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The Great Inheritors: How Three Families Shielded Their Fortunes From Taxes for Generations

https://www.propublica.org/article/the- ... enerations

Justthetruth

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slideman » 20 Jan 2023, 8:40 pm » wrote: The real truth about these rich people is no one can easily spend a billion dollars never mind 10 billion dollars.
They let their money sit in investments which are an income which is not taxed because they don't take the money out because they already have more money than they can use.
They're essentially free of taxation for most of their income.

Suckers
But they donate enough money to the Republicans to give them tax cuts and run up debt. 

Then ******* about the debt they created and blame democrats when we spend money on poor people. 

Because they want poor people dependent on them. 

It's the circle of life. 

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Monderegal

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slideman » 31 Dec 2022, 11:54 am » wrote: The Republicans use all kinds of issues to enrage their membership but they really have only one priority: low taxes on the rich.
All the stuff about racism and abortion and transgender people and all that stuff is fluff. Stuff to keep the constituency enraged and voting Republican.
What a bunch of suckers

Well I actually would bear to differ there even as a Democrat. Reagan lowered taxes on the wealthy to curb inflation. Unlike Trump, there was a specific logic to it believe it or not. Trump came to office on populism which basically is an appeal to the places where most people agree. At least that was his politics in 2016. In 2020 he was already an autocrat and tried to steal the election.
Going back to my own views, taxes should be lowered for everyone. The government doesn't need all the money it can get. That's not the only issue either. Fighting the lobbyists is difficult for both parties and Democrats play king maker in industry too just like Republicans. Wealth can easily be derived from having insiders in Washington. That's where the real money is, not so much in taxes although an income tax is still something I support.

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nuckin futz

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Zeets2 » 20 Jan 2023, 9:15 am » wrote: It is if you're so dumb that you think Democrats do anything different, moron!
he is right! Just look at the last 3 Rethug admins, and you will see that it is true!
Tax giveaways to the rich and corporate elite!
:x   :x   :x  
 

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nuckin futz

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slideman » 09 Jan 2023, 4:45 pm » wrote: "Very first bill": McCarthy pledges repeal of IRS funding meant to target wealthy tax cheats

Soon after the U.S. House reconvenes Monday to vote on the rules package containing many of the concessions House Speaker Kevin McCarthy made to secure to votes of far-right Republicans, the party is also expected to introduce what the new leader said early Saturday would be its "very first bill": a proposal repealing new Internal Revenue Service funding meant to help audit the wealthiest Americans.

https://www.salon.com/2023/01/09/very-f ... s_partner/
The Rethugs want to underfund the IRS so that their crooks keep robbing us peasants!We have to pay more taxes to make up for it!
Billions of $$$ escape taxes by using overseas banking entities!
:x   :x   :x   :x  
 

Justthetruth

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nuckinfutz » 20 Jan 2023, 10:05 pm » wrote: The Rethugs want to underfund the IRS so that their crooks keep robbing us peasants!We have to pay more taxes to make up for it!
Billions of $$$ escape taxes by using overseas banking entities!
Image   Image   Image   Image
No doubt about it. 

Shifting the tax burden on the people that cant afford it. 

It's been their plan for years. 
 

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Zeets2

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slideman » 20 Jan 2023, 8:36 pm » wrote: Explain how Buffett pays less than his secretary.
Simple, nitwit!  They pay THE EXACT SAME RATE up to the maximum amount the secretary has earned.  The tax rates drop at $83,600 for Buffett when he reaches the maximum liability limit for Social Security and that amount is no longer deducted.  Most of the remainder of his earned income comes from capital gains profit, which is THE SAME DEDUCTION YOU WOULD GET when the house you bought for $100,000 has now increased in value to $600,000, for example.  Neither you, his secretary, or Buffet do not pay the 36% tax rate on that additional half-million dollar increased profit you received.  Beyond that, there are also legal deductions that anyone is entitled to such as the purchase of municipal bonds which are free from federal tax, maximum contributions to an accredited IRA or other retirement plan, or the establishment of a healthcare savings account, which are deductions ALL TAXPAYERS are entitled to.

Now if socialist liberals like you don't like those rules, what stopped you from changing them over the last 2 years when Democrats had complete control of both Houses of Congress and the White House?  Or for that matter, why didn't they change them when Obama had 8 years to do so, some years ALSO with full Democrat control.

So stop your idiotic lies about how it's only Republicans that set the rules for paupers like you to suffer with, OK snowflake?


 

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Zeets2

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nuckinfutz » 20 Jan 2023, 9:43 pm » wrote: he is right! Just look at the last 3 Rethug admins, and you will see that it is true!
Tax giveaways to the rich and corporate elite!
Image   Image   Image
Are you now going to tell me lies about how the Trump tax cuts were unfair, even though it eliminated federal taxes entirely for millions while dropping the tax rates significantly for others while increasing taxes on the wealthy?  Those changes removed over $10,000 worth of property tax deductions I previously enjoyed which increased my taxes significantly during the Trump years, a fact which should delight idiots like you no end!  But unlike you, I supported that change that cost me personally because I understand that the federal government should not be encouraging the deduction of the wasteful and unfair property tax amounts that liberal states like mine (NJ) and others charge because those states think they can rape taxpayers unfairly with huge property taxes.  Americans have learned that it is poorly run states like mine that are the problem and NOT the federal government. 

NJ may very well be the WORST state for high taxes, including having the highest property taxes in the country.  Beyond that, my state gets HUGE revenue amounts from gambling in Atlantic City, HUGE revenues from more than 140 miles of beachfront property, HUGE revenues from road and bridge tolls on our two largest highways, and now are even enjoying HUGE revenue increases from the legal sale of marijuana.  We also receive HUGE revenues from our two pro football teams, 3 pro soccer teams,  two minor league baseball teams, and a pro hockey team residing in NJ.  
How many other states draw from that kind of massive income revenue in the country?
 

Justthetruth

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The rich think that they shouldn't be paying taxes at all.

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slideman

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Zeets2 » 21 Jan 2023, 10:23 am » wrote: Are you now going to tell me lies about how the Trump tax cuts were unfair, even though it eliminated federal taxes entirely for millions while dropping the tax rates significantly for others while increasing taxes on the wealthy?  Those changes removed over $10,000 worth of property tax deductions I previously enjoyed which increased my taxes significantly during the Trump years, a fact which should delight idiots like you no end!  But unlike you, I supported that change that cost me personally because I understand that the federal government should not be encouraging the deduction of the wasteful and unfair property tax amounts that liberal states like mine (NJ) and others charge because those states think they can rape taxpayers unfairly with huge property taxes.  Americans have learned that it is poorly run states like mine that are the problem and NOT the federal government. 

NJ may very well be the WORST state for high taxes, including having the highest property taxes in the country.  Beyond that, my state gets HUGE revenue amounts from gambling in Atlantic City, HUGE revenues from more than 140 miles of beachfront property, HUGE revenues from road and bridge tolls on our two largest highways, and now are even enjoying HUGE revenue increases from the legal sale of marijuana.  We also receive HUGE revenues from our two pro football teams, 3 pro soccer teams,  two minor league baseball teams, and a pro hockey team residing in NJ.  
How many other states draw from that kind of massive income revenue in the country?
Lol he screwed you and you love him for it.

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FJB

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slideman » 22 Jan 2023, 10:15 am » wrote: Lol he screwed you and you love him for it.

Biden is screwing the country right now and you dems don't give a ****.

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slideman

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Trump’s tax cuts helped billionaires pay less than the working class for first time

https://www.theguardian.com/business/20 ... s-pay-less

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FJB

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slideman » 22 Jan 2023, 10:17 am » wrote: Trump’s tax cuts helped billionaires pay less than the working class for first time

https://www.theguardian.com/business/20 ... s-pay-less
Here comes the TDS
 

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slideman

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Eight Ways the Trump-GOP Tax Cuts Have Made the Rich Richer While Failing Working Families
In the two years since Congress passed the Republican tax law, the richest 1 percent have been the big winners.


https://inequality.org/research/trump-t ... nequality/

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Zeets2

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slideman » 22 Jan 2023, 10:15 am » wrote: Lol he screwed you and you love him for it.
No, he made the tax rate more fair for everyone!
You see, those of us who support tax reform for the benefit of the country understand that STATE authoritarianism and wasteful spending by the liberal Democrat politicians like NJ has are just as bad for the state they represent as liberal Democrats controlling the federal government.

Maybe you care to explain how the highest taxed states like NY, NY, CA, MI, CT, and a few more have the most crime, the most drug abuse, the most gun crimes, the worst public school systems, the worst homeless problems, and the highest number of hard-working Americans LEAVING those states for those like TX and FL which are run far better?

Ignorant libs like yourself ONLY care about how government policies affect them personally, and don't give a flying **** about whether or not they are good for the country. 
 

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slideman

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Zeets2 » 22 Jan 2023, 10:26 am » wrote: No, he made the tax rate more fair for everyone!
You see, those of us who support tax reform for the benefit of the country understand that STATE authoritarianism and wasteful spending by the liberal Democrat politicians like NJ has are just as bad for the state they represent as liberal Democrats controlling the federal government.

Maybe you care to explain how the highest taxed states like NY, NY, CA, MI, CT, and a few more have the most crime, the most drug abuse, the most gun crimes, the worst public school systems, the worst homeless problems, and the highest number of hard-working Americans LEAVING those states for those like TX and FL which are run far better?

Ignorant libs like yourself ONLY care about how government policies affect them personally, and don't give a flying **** about whether or not they are good for the country.
You don't know a thing about my situation.
 
The country needs tax reform all right.
I am in fact advocating higher taxes on myself.

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FJB

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slideman » 22 Jan 2023, 10:34 am » wrote: You don't know a thing about my situation.
 
The country needs tax reform all right.
I am in fact advocating higher taxes on myself.

How about democrats just stop spending willy nilly...