Since we know that trickledown economics is a GOP lie, why are republicans still opposed to taxing the very wealthy more?

[progressive hunter]

The wealth disparity in the US is the widest in the world. We KNOW corporate subsidies and tax breaks do not benefit the middle class or poor on any significant level. It's simply a myth they would choose to invest the extra money into lower level work forces. Why pay the fast food worker more if republican policy allows the fat cats to just keep the money they save from tax loopholes or meat subsidies? No point in that for them. There is no incentive.


"Under this legislation," the proposal noted above a list of billionaires in America, "the families of all 657 billionaires in America who have a combined net worth of over $4.26 trillion would owe up to $2.7 trillion in estate taxes."

Estate tax proposal from Bernie Sanders would mean big bills for America's wealthiest

Senate Budget Committee Chairman Bernie Sanders (I-VT) recently introduced an estate tax plan that specifically lists the wealthiest Americans.

www.yahoo.com

currently about 50% of the population pay nothing in taxs and the uber rich pay the highest part of taxs,,

fix that problem and we can talk about you stupid idea,,

The Uber rich, as you say, have 70-90% of the money, yet pay less than 40% of the taxes.

good for them,,, but sadly what you just said is not true,,

 

[Ray From Cleveland]

The Uber rich, as you say, have 70-90% of the money, yet pay less than 40% of the taxes.

The top 20% pay 87% of all collected income taxes. If that's not their "fair" share, then what is?

Again, we don't live in a society of "the money." Money is infinite in this country. You can make as much as you want, and nobody will stop you.

 

[Crepitus]

No one has ever produced any evidence that wealth disparity harms anyone.

Evidence:

Move on to the next stupid statement please.

 

[initforme]

One won't make much working for less than $40 per hour in today's america

 

[Crepitus]

The wealth disparity in the US is the widest in the world. We KNOW corporate subsidies and tax breaks do not benefit the middle class or poor on any significant level. It's simply a myth they would choose to invest the extra money into lower level work forces. Why pay the fast food worker more if republican policy allows the fat cats to just keep the money they save from tax loopholes or meat subsidies? No point in that for them. There is no incentive.


"Under this legislation," the proposal noted above a list of billionaires in America, "the families of all 657 billionaires in America who have a combined net worth of over $4.26 trillion would owe up to $2.7 trillion in estate taxes."

Estate tax proposal from Bernie Sanders would mean big bills for America's wealthiest

Senate Budget Committee Chairman Bernie Sanders (I-VT) recently introduced an estate tax plan that specifically lists the wealthiest Americans.

www.yahoo.com

currently about 50% of the population pay nothing in taxs and the uber rich pay the highest part of taxs,,

fix that problem and we can talk about you stupid idea,,

The Uber rich, as you say, have 70-90% of the money, yet pay less than 40% of the taxes.

good for them,,, but sadly what you just said is not true,,

But it is.

Infographic: The Top 10 Percent Own 70 Percent of U.S. Wealth

This chart shows the distribution of U.S. net worth among population percentiles.

www.statista.com

 

[Jets]

Sen. Bernie Sanders, I-Vt., released Thursday the For the 99.5% Act, legislation that would restore the estate tax exemptions to the 2009 thresholds of $3.5 million per individual and $7 million per married couple from the current exemptions of $11.7 million and $23.4 million.

In a shift, larger estates would be subject to higher tax rates. The current 40% tax rate would be raised to 45%. Taxable estates greater than $10 million would be taxed at 50%, amounts greater than $50 million at 55%, and amounts greater than $1 billion would be taxed at 65%, according to the Joint Committee on Taxation.

Sen. Bernie Sanders Introduces Estate Tax Bill | ThinkAdvisor

The bill raises rates, lowers exemptions and adds higher tax brackets for larger estates.

www.google.com

What’s so egregious about this proposal?

 

[Crepitus]

We know that trickle up poverty is a reality.

You just made that up

no he didnt,,

It's not a thing. He made it up

 

[Mac-7]

I am not suggesting we abolish capitalism. I’m saying we create a private market system that is more egalitarian.

You mean use a bigger rabbit at the dog track for the greyhounds to chase

Greedy libs are telling Americans “make all the money you want, but your government will keep half”

 

[Crepitus]

The Uber rich, as you say, have 70-90% of the money, yet pay less than 40% of the taxes.

The top 20% pay 87% of all collected income taxes. If that's not their "fair" share, then what is?

Again, we don't live in a society of "the money." Money is infinite in this country. You can make as much as you want, and nobody will stop you.

Link?

 

[Oldestyle]

We know that trickle up poverty is a reality.

So you're just going to deflect the topic like a little bitch?

What is the topic ?

The push from Sanders to rob Americans richest of the money they want to pass to their children.

Who is Bernie Sanders to say how much people should have.

Talk about totalitarian.

The problem with far left liberals like Bernie and Billy is that they seem to believe there is only a finite amount of wealth in existence...so that if a rich person has it...they must have stolen it from a poor person! That's not the case. The only group looking to steal people's money is the far left who think that the money someone has spent a life time's work accruing isn't theirs anymore if they die! What gives the left the right to take what they haven't earned to fund their give a ways so that more people will vote for them?

 

[progressive hunter]

We know that trickle up poverty is a reality.

You just made that up

no he didnt,,

It's not a thing. He made it up

he may have made up the phrase but the act is a proven fact,,

over the last yr we have seen the biggest wealth transfer from the poor to the uber rich in american history,,,

 

[progressive hunter]

The Uber rich, as you say, have 70-90% of the money, yet pay less than 40% of the taxes.

The top 20% pay 87% of all collected income taxes. If that's not their "fair" share, then what is?

Again, we don't live in a society of "the money." Money is infinite in this country. You can make as much as you want, and nobody will stop you.

Link?

if you dont know that by this time no link will ever help you,,

 

[Jim H - VA USA]

The Uber rich, as you say, have 70-90% of the money, yet pay less than 40% of the taxes.

The top 20% pay 87% of all collected income taxes. If that's not their "fair" share, then what is?

Again, we don't live in a society of "the money." Money is infinite in this country. You can make as much as you want, and nobody will stop you.

Link?

if you dont know that by this time no link will ever help you,,

>>The top 20% pay 87% of all collected income taxes. If that's not their "fair" share, then what is?
>Link?

Here's how much wealthy Americans pay in taxes

Out of the 150 million-plus taxpayers expected to file returns this year, new data shows the country’s wealthiest residents bear a sizable tax burden when compared with lower-earning payers.


According to data released recently by the Internal Revenue Service, compiled by the Tax Foundation, the bottom 50 percent of taxpayers paid about $43.9 billion in income taxes 2016– which accounts for roughly 3 percent of all income taxes paid.

The top 1 percent, on the other hand, accounted for about 37.3 percent of all income taxes paid during the same year.

“The 2016 IRS data shows that taxpayers with higher incomes pay much higher average income tax rates than lower-income taxpayers,” the Tax Foundation Opens a New Window. concluded.

Here’s a look at what the highest-earning Americans paid:

Top 1 percent

The top 1 percent of earners filed about 1.4 million returns in 2016. They had a cumulative adjusted gross income valued at more than $2 trillion.

The top 1 percent paid the highest effective income tax rate – at about 27 percent – than any other group. That percentage is also more than seven-times the rate paid by the bottom 50 percent of taxpayers. Those in the top 0.1 percent paid an even higher rate, at 27.1 percent.

Individuals in the top 1 percent of earners paid more than $538 billion in income taxes in 2016 – more than the bottom 90 percent of payers combined.

Top 5 percent

The top 5 percent of filers submitted more than 7 million returns in 2016 – accounting for more than 35 percent of total adjusted gross income.

This group paid a collective $839.8 billion in income taxes in 2016. That represents more than 58 percent of the share of total income taxes paid that year.

Americans between the top 1 percent and the top 5 percent paid the second highest average income tax rate – at about 19.2 percent.

Top 10 percent

Taxpayers belonging to America’s top 10 percent of earners filed more than 14 million returns in 2016. This group reported adjusted gross income of more than $4.7 trillion.

People belonging to this group paid more than $1 trillion, collectively, in income taxes. Their share of total income taxes paid was about 69 percent.


Overall, the top 50 percent of taxpayers paid 97 percent of all individual income taxes

 

[Crepitus]

We know that trickle up poverty is a reality.

You just made that up

no he didnt,,

It's not a thing. He made it up

he may have made up the phrase but the act is a proven fact,,

over the last yr we have seen the biggest wealth transfer from the poor to the uber rich in american history,,,

I don't think that's what he had in mind.

 

[progressive hunter]

We know that trickle up poverty is a reality.

You just made that up

no he didnt,,

It's not a thing. He made it up

he may have made up the phrase but the act is a proven fact,,

over the last yr we have seen the biggest wealth transfer from the poor to the uber rich in american history,,,

I don't think that's what he had in mind.

but you dont think,,

 

[Nostra]

The wealth disparity in the US is the widest in the world. We KNOW corporate subsidies and tax breaks do not benefit the middle class or poor on any significant level. It's simply a myth they would choose to invest the extra money into lower level work forces. Why pay the fast food worker more if republican policy allows the fat cats to just keep the money they save from tax loopholes or meat subsidies? No point in that for them. There is no incentive.


"Under this legislation," the proposal noted above a list of billionaires in America, "the families of all 657 billionaires in America who have a combined net worth of over $4.26 trillion would owe up to $2.7 trillion in estate taxes."

Estate tax proposal from Bernie Sanders would mean big bills for America's wealthiest

Senate Budget Committee Chairman Bernie Sanders (I-VT) recently introduced an estate tax plan that specifically lists the wealthiest Americans.

www.yahoo.com

Quote any Republican espousing "trickle down economics" Billy000

 

[Ray From Cleveland]

The problem with far left liberals like Bernie and Billy is that they seem to believe there is only a finite amount of wealth in existence...so that if a rich person has it...they must have stolen it from a poor person! That's not the case.

It's not the case. The poor willingly give those rich people their money.

This transfer of wealth is correct. We on the bottom transfer our wealth to the top for products and services they offer. Nearly every American transfers their wealth to the top several times a week.

Next week, most of us will pay our cell phone bill, our cable or satellite bill that supplies us with this wonderful internet, a car loan, a credit card loan. We may buy a new video game or video game system. We may stop at McDonald's or other like places several times next week. We will purchase gasoline for our vehicles. One way or another, we will transfer our money to the top, and that includes liberals.

The solution to this wealth transfer problem for liberals is for them to stop giving their money to the wealthy. The Amish and Quakers don't.

 

[Ray From Cleveland]

Link?

Summary of the Latest Federal Income Tax Data, 2023 Update

The latest IRS data shows that the U.S. federal individual income tax continued to be progressive, borne primarily by the highest income earners.

taxfoundation.org

 

[22lcidw]

The wealth disparity in the US is the widest in the world. We KNOW corporate subsidies and tax breaks do not benefit the middle class or poor on any significant level. It's simply a myth they would choose to invest the extra money into lower level work forces. Why pay the fast food worker more if republican policy allows the fat cats to just keep the money they save from tax loopholes or meat subsidies? No point in that for them. There is no incentive.


"Under this legislation," the proposal noted above a list of billionaires in America, "the families of all 657 billionaires in America who have a combined net worth of over $4.26 trillion would owe up to $2.7 trillion in estate taxes."

Estate tax proposal from Bernie Sanders would mean big bills for America's wealthiest

Senate Budget Committee Chairman Bernie Sanders (I-VT) recently introduced an estate tax plan that specifically lists the wealthiest Americans.

www.yahoo.com

I am seeing trickle up inflation on everything we do now. We warned you. We told you what would happen. Ph uk u all.

 

[MisterBeale]

The wealth disparity in the US is the widest in the world. We KNOW corporate subsidies and tax breaks do not benefit the middle class or poor on any significant level. It's simply a myth they would choose to invest the extra money into lower level work forces. Why pay the fast food worker more if republican policy allows the fat cats to just keep the money they save from tax loopholes or meat subsidies? No point in that for them. There is no incentive.


"Under this legislation," the proposal noted above a list of billionaires in America, "the families of all 657 billionaires in America who have a combined net worth of over $4.26 trillion would owe up to $2.7 trillion in estate taxes."

Estate tax proposal from Bernie Sanders would mean big bills for America's wealthiest

Senate Budget Committee Chairman Bernie Sanders (I-VT) recently introduced an estate tax plan that specifically lists the wealthiest Americans.

www.yahoo.com

Quote any Republican espousing "trickle down economics" Billy000

. . . it's not so much about "trickle down economics," but the fact that, all economists, both on the left, and the right, acknowledge, and have acknowledged, since the beginning of the profession of economics, that there is a sweet spot on the marginal tax rate, which will produce the most government revenue.

Tax too little, and the government won't get what it could theoretically get, tax too much, and producers will either move tax jurisdiction or cheat the tax code.

There are historical, FACTUAL statistics on this, it is not really open to debate. What IS open to debate, is what that tax rate is, and of course, because the government can make several different tax rates on different sectors of society and such a complex tax code, figuring out this formula is, becomes extremely difficult.

Laffer curve - Wikipedia

en.wikipedia.org