Tax cuts for the rich and fair share

[LeftofLeft]

This is a mantra for the Left. My question, especially in the face of lack of cutting spending by the Left, how much is enough and what is “fair share”?

- Paycheck: anywhere between 25-40 percent of my paycheck is taken out for taxes.

AFTER PAYROLL TAX

- Property tax: the more house or land I own, the more taxes I pay and continue to pay after the house and land are paid off

- Investments/ Capital Gains: If I invest after taxes, assume risk, gain a return, the government gets a piece of that. If I lose, I get a token deduction capped.

- When myself and spouse pass away, the government gets to keep most of my estate before passing along to my heirs.

How much is enough to reach “fair share” thresholds?

 

[mikegriffith1]

Except that the rich got the smallest rate cuts in the Trump tax cuts and lost a huge tax break with the $10K cap on SALT deductions.

Seriously, Why Do So Many Liberals Keep Lying About the Trump Tax Cuts?

 

[LeftofLeft]

Except that the rich got the smallest rate cuts in the Trump tax cuts and lost a huge tax break with the $10K cap on SALT deductions.

Seriously, Why Do So Many Liberals Keep Lying About the Trump Tax Cuts?

Yep. It’s still not enough and there is no line or measurement of “fair share”.

 

[Zorro!]

Except that the rich got the smallest rate cuts in the Trump tax cuts and lost a huge tax break with the $10K cap on SALT deductions.

Seriously, Why Do So Many Liberals Keep Lying About the Trump Tax Cuts?

Because Trump raised their taxes. They love to VIRTUE-SIGNAL on paying more in taxes, but they don't want to actually pay more taxes.

WELL, THEY’VE SUPPORTED HIGHER TAXES FOR A LONG TIME: Harvard To Pay $50 Million Tax Due To Trump Tax Reform. Of course, that’s chump change for the hedge-fund-disguised-as-a-university that is Harvard.

“Despite the new tax bill, Harvard’s net operating surplus rose almost 52 percent to $297.9 million in 2019. Total operating revenue rose nearly 6 percent to $5.5 billion as total student revenue rose 7 percent to $1.2 billion.”​