Taxing The Rich

[Eric Stratton]

The poor have the EIC to create a negative tax $$ environment for them.

OMG, a massive transfer of wealth straight from the rich to the poor going on right in front of our noses! Do something, Otter! Do something!
Earned Income Tax Credit Income Limits and Maximum Credit Amounts:

Investment Income Limit
Investment income must be $3,650 or less for the year.

Maximum Credit Amounts
The maximum amount of credit for Tax Year 2020 is:

• $6,660 with three or more qualifying children
• $5,920 with two qualifying children
• $3,584 with one qualifying child
• $538 with no qualifying children.

Damn them poor peoples!

Nothing in that negates my statement. Nice try neophyte.

Um, nice non sequitur, idjit!

You disagree? Or are you his big sister coming to beat me up?

Here, son. Not "a negative tax $$ environment" by any stretch. And bubbye!

The U.S. doesn’t currently have a negative income tax in place.

Thanks for the link. Did you read it?

Not "a negative tax $$ environment" by any stretch.
View attachment 418072

DURR.

Oh man. Grumblenuts is castrated.

 

[Brain357]

Yes, it was most of the uptick.

10% was a small part of the uptick.

What was the increase over the previous year?

Your source said the minimum wage hikes were 0.4% of the 3.9% total.

Even for a liberal, saying that was "most of the uptick", is especially moronic.

The uptick is how much the increase was larger than the previous years increase. How much was that?

 

[Eric Stratton]

I have made my living working in the area of tax law. We also have a progressive tax system that taxes higher taxable income more than lower. We have an estate and gift tax system that is quite generous but still exposes the rich to substantial tax on their accumulated wealth.

Given the amount of taxes needed to support a liberal utopian budget can never be produced by taxing the rich alone, where do you liberal stooges think it will come from?

My opinion is that everybody should be paying income taxes, even if it's not a huge share. A little less than half of the people in our country pay no income tax at all. There are 260 million adults in the US, and 110 million people chipping something in something would be a huge help. I would like to see a consumption tax myself, say 5 cents on every dollar spent. This way everybody has a dog in the race and will be more frugal when it comes to their politicians needlessly spending money on things like free college and government healthcare.

That doesn’t sound very republican. You must be pissed trump cut taxes and increased spending.

Not at all and how in the name of all that's Holy did you come to an inane conclusion like that? Never mind, you brain farted and you thought that you had a thought.

The republican way is to cut taxes, increase military spending and increase debt. Nobody pays for it.

When business increases, profits increase and taxes increase too. When business decreases, profits decrease and taxes stay the same. So people get fired.

When republicans cut taxes and increase military spending deficits increase rapidly.

When the country is sucking the hind tit and our military has no ammunition for its weapons, Democrat presidents are to blame.

So you are good with putting spending on the credit card and dropping taxes. Typical republican. Completely irresponsible.

I don't use credit cards. I don't have any personal debt beyond my monthly utilities.

Yet you are cool with republicans adding to debt. You just don’t seem to get this.

Oh I get it. How will Joe balance the budget and turn a deficit into a surplus? Since he's the best thing since Michelle's knee boots, what's the demented idiot going to do? Form a committee to talk about it.

I bet he doesn’t increase military spending and cut taxes. That sure doesn’t work.

He is a friend of our enemies. Why would he? Increases in taxes to pay for the poor illegal kids medicine is such a cool idea...if you are a fool.

Increasing spending and cutting taxes is such a cool idea . Free stuff, just put it on the credit card.

That's what all those millennials are hoping for. They want free education, health care, housing, et.al. just like they have in the basement of mom and dad's now.

Republicans deliver free and a tax cut.

Free what?

Military. Try to keep up.

Free military? WTF are you talking about?

 

[Brain357]

That doesn’t sound very republican. You must be pissed trump cut taxes and increased spending.

It's a very Republican comment by me because our platform is to treat people equally or as close as we can to it.

Republicans just cut taxes and don’t pay for anything. The debt just grows and grows...

$10 trillion under Zippy the Pinhead (aka Obama). Ouch!!!!!

And how much is Trump adding in 4 years?

This will make Trump’s first four years total deficits $5.7 trillion vs. Obama’s $5.1 trillion. Includes Covid. Hmmmmmm....by my way of thinking that's way better than Zippy.

Obama inherited a recession, two wars, banking crisis.... trump inherited a country with a strong economy. Yeah Trump is awful.

Obama inherited a recession,

That ended in June 2009.

trump inherited a country with a strong economy.

+1.6% was strong?

Is that more of your "liberal math"?

It is considering trump claimed the greatest economy with less than 3%. Are you saying trump was full of shit?

Wait, are you saying a president exaggerated?
I guess there is a first time for everything.

I guess you are saying that. 1.6 would be nice this year eh?

I wouldn't say 1.6% was strong. Would you?

Solid enough given the deficit. Last year was 2.4 with a trillion dollar deficit and Trump says greatest economy ever.

 

[Brain357]

I have made my living working in the area of tax law. We also have a progressive tax system that taxes higher taxable income more than lower. We have an estate and gift tax system that is quite generous but still exposes the rich to substantial tax on their accumulated wealth.

Given the amount of taxes needed to support a liberal utopian budget can never be produced by taxing the rich alone, where do you liberal stooges think it will come from?

My opinion is that everybody should be paying income taxes, even if it's not a huge share. A little less than half of the people in our country pay no income tax at all. There are 260 million adults in the US, and 110 million people chipping something in something would be a huge help. I would like to see a consumption tax myself, say 5 cents on every dollar spent. This way everybody has a dog in the race and will be more frugal when it comes to their politicians needlessly spending money on things like free college and government healthcare.

That doesn’t sound very republican. You must be pissed trump cut taxes and increased spending.

Not at all and how in the name of all that's Holy did you come to an inane conclusion like that? Never mind, you brain farted and you thought that you had a thought.

The republican way is to cut taxes, increase military spending and increase debt. Nobody pays for it.

When business increases, profits increase and taxes increase too. When business decreases, profits decrease and taxes stay the same. So people get fired.

When republicans cut taxes and increase military spending deficits increase rapidly.

When the country is sucking the hind tit and our military has no ammunition for its weapons, Democrat presidents are to blame.

So you are good with putting spending on the credit card and dropping taxes. Typical republican. Completely irresponsible.

I don't use credit cards. I don't have any personal debt beyond my monthly utilities.

Yet you are cool with republicans adding to debt. You just don’t seem to get this.

Oh I get it. How will Joe balance the budget and turn a deficit into a surplus? Since he's the best thing since Michelle's knee boots, what's the demented idiot going to do? Form a committee to talk about it.

I bet he doesn’t increase military spending and cut taxes. That sure doesn’t work.

He is a friend of our enemies. Why would he? Increases in taxes to pay for the poor illegal kids medicine is such a cool idea...if you are a fool.

Increasing spending and cutting taxes is such a cool idea . Free stuff, just put it on the credit card.

That's what all those millennials are hoping for. They want free education, health care, housing, et.al. just like they have in the basement of mom and dad's now.

Republicans deliver free and a tax cut.

Free what?

Military. Try to keep up.

Free military? WTF are you talking about?

Trumpy increased military spending and didn’t pay for it. Try to keep up.

 

[Toddsterpatriot]

Yes, it was most of the uptick.

10% was a small part of the uptick.

What was the increase over the previous year?

Your source said the minimum wage hikes were 0.4% of the 3.9% total.

Even for a liberal, saying that was "most of the uptick", is especially moronic.

The uptick is how much the increase was larger than the previous years increase. How much was that?

How much was that?

3.9%, 0.4% of which was because of the minimum wage hikes.
A tiny fraction, not most.

 

[Ray From Cleveland]

Trump is kinda like millennials. Got his military spending and didn’t have to pay for it.

Really? Then who paid for it?

 

[Ray From Cleveland]

licans just cut taxes and don’t pay for anything. The debt just grows and grows...

Like it does every other President. And let's not forget who was in charge of the House these past two years; you know, that place where all appropriation bills come from?

 

[Brain357]

Yes, it was most of the uptick.

10% was a small part of the uptick.

What was the increase over the previous year?

Your source said the minimum wage hikes were 0.4% of the 3.9% total.

Even for a liberal, saying that was "most of the uptick", is especially moronic.

The uptick is how much the increase was larger than the previous years increase. How much was that?

How much was that?

3.9%, 0.4% of which was because of the minimum wage hikes.
A tiny fraction, not most.

How much was the uptick? If the rate of increase is always 3.5% then there is no uptick. How much was the increase in rate over the previous year?

 

[Brain357]

Trump is kinda like millennials. Got his military spending and didn’t have to pay for it.

Really? Then who paid for it?

It went on the credit card like Republicans always do. You got the military increase you wanted, how much did your taxes go up to pay for that?

 

[Brain357]

licans just cut taxes and don’t pay for anything. The debt just grows and grows...

Like it does every other President. And let's not forget who was in charge of the House these past two years; you know, that place where all appropriation bills come from?

The first two years set up the big increases. Repubs were in full control when they passed the tax cuts and increased military spending.

 

[Oldestyle]

The dems don’t understand economics or even math.
They think that the rich are somehow locked into staying in high tax areas. They think that their money can’t be moved into other countries.
They don’t realize that businesses can leave money overseas Instead of bringing it into the U.S. where it spends just as well there.
They don’t realize that businesses are not going to take a hit to the bottom line, they will just pass that hit onto higher prices for the consumer.

Raise the minimum wage to raise more tax revenue.

Raise minimum wage to increase prices for goods. Then minimum wage purchases the exact same amount of goods or services.
so it ends up as a wash other then it looks good.

No, it doesn't. Some studies show less than five percent increase in prices. Simply beating the rate of inflation means greater purchasing power for Labor and their propensity to consume. The doubling of the minimum wage will not result in a doubling of prices for anything.

So you're going to increase labor costs by 100% but claim that prices will only go up 5%? You're not the brightest bulb on the tree...are you, Daniel?

Due to minimum wage increases. Other wages could raise it more, but the pay increases need merely beat inflation. Who cares if prices go up if we can afford it with the higher wage. And, a fifteen dollar an hour minimum wage also generates several times more in federal income tax revenue.

So your saying is nothing happens with a higher minimum wage

We don't get much of any kind of wage increases with all these near monopolies and collusion.

It's called quitting and get a new job

yeah that works in a good job market. Our market is broken. We had really low unemployment and wages barely ticked up and most of that was from min wage increases.

Get rid of the illegals and your wages will go through the roof..

Supply and demand

I thought trump was doing that? Wages didn't go up.

Wages did go up before the pandemic under Trump. He created jobs. When you have more jobs than qualified workers then competition for those workers will drive wage increases. This really shouldn't be as complicated as it seems to be for you on the left, Brain!

Up at a really weak rate. It should have been a strong rate with really low unemployment. What don’t you get?

It was one of the strongest rates we've had in quite awhile, Brain! I know you in the left hate to admit it but Trump was good for blue collar workers.

 

[Oldestyle]

yeah that works in a good job market. Our market is broken. We had really low unemployment and wages barely ticked up and most of that was from min wage increases.

Wages don't increase because of minimum wage. Wages increase due to competition of employers trying to secure good employees.

View attachment 417799

MW increases took place under DumBama and Trump. But notice when wages really took off.

Looks like they are still less than they were before the recession. What a success. Looks like a pretty steady climb btw.

Continuing trends from the Obama administration.

God, you're an idiot! Wages were stagnant for most of the Obama eight years.

 

[Brain357]

The dems don’t understand economics or even math.
They think that the rich are somehow locked into staying in high tax areas. They think that their money can’t be moved into other countries.
They don’t realize that businesses can leave money overseas Instead of bringing it into the U.S. where it spends just as well there.
They don’t realize that businesses are not going to take a hit to the bottom line, they will just pass that hit onto higher prices for the consumer.

Raise the minimum wage to raise more tax revenue.

Raise minimum wage to increase prices for goods. Then minimum wage purchases the exact same amount of goods or services.
so it ends up as a wash other then it looks good.

No, it doesn't. Some studies show less than five percent increase in prices. Simply beating the rate of inflation means greater purchasing power for Labor and their propensity to consume. The doubling of the minimum wage will not result in a doubling of prices for anything.

So you're going to increase labor costs by 100% but claim that prices will only go up 5%? You're not the brightest bulb on the tree...are you, Daniel?

Due to minimum wage increases. Other wages could raise it more, but the pay increases need merely beat inflation. Who cares if prices go up if we can afford it with the higher wage. And, a fifteen dollar an hour minimum wage also generates several times more in federal income tax revenue.

So your saying is nothing happens with a higher minimum wage

We don't get much of any kind of wage increases with all these near monopolies and collusion.

It's called quitting and get a new job

yeah that works in a good job market. Our market is broken. We had really low unemployment and wages barely ticked up and most of that was from min wage increases.

Get rid of the illegals and your wages will go through the roof..

Supply and demand

I thought trump was doing that? Wages didn't go up.

Wages did go up before the pandemic under Trump. He created jobs. When you have more jobs than qualified workers then competition for those workers will drive wage increases. This really shouldn't be as complicated as it seems to be for you on the left, Brain!

Up at a really weak rate. It should have been a strong rate with really low unemployment. What don’t you get?

It was one of the strongest rates we've had in quite awhile, Brain! I know you in the left hate to admit it but Trump was good for blue collar workers.

Thanks to the minimum wages increases happening in many states. Last I checked that isn't trump policy.

 

[Brain357]

yeah that works in a good job market. Our market is broken. We had really low unemployment and wages barely ticked up and most of that was from min wage increases.

Wages don't increase because of minimum wage. Wages increase due to competition of employers trying to secure good employees.

View attachment 417799

MW increases took place under DumBama and Trump. But notice when wages really took off.

Looks like they are still less than they were before the recession. What a success. Looks like a pretty steady climb btw.

Continuing trends from the Obama administration.

God, you're an idiot! Wages were stagnant for most of the Obama eight years.

And didn't improve much till a bunch of states increased minimum wage.

 

[Brain357]

If dems were as bad as repubs they would be offering free healthcare and a tax cut.

 

[Toddsterpatriot]

Yes, it was most of the uptick.

10% was a small part of the uptick.

What was the increase over the previous year?

Your source said the minimum wage hikes were 0.4% of the 3.9% total.

Even for a liberal, saying that was "most of the uptick", is especially moronic.

The uptick is how much the increase was larger than the previous years increase. How much was that?

How much was that?

3.9%, 0.4% of which was because of the minimum wage hikes.
A tiny fraction, not most.

How much was the uptick? If the rate of increase is always 3.5% then there is no uptick. How much was the increase in rate over the previous year?

If the rate of increase is always 3.5%

Who said it was always 3.5%? Where?

Again, from your NYT link.......

This analysis shows that growth in average wages has been running about 3.9 percent per year in the Current Population Survey over the past two years

So, 2018 and 2019, 3.9% with the MW hikes, 3.5% without.

And according to my earlier CNN link......

Wages were up 2.9% compared with a year earlier, the best pace since June 2009. Wage growth has been the last major measure to make meaningful progress since the end of the Great Recession.

2017 was higher than every year since June 2009, when it looks like real wages grew by 2.6%.

https://www.bls.gov/news.release/archives/realer_07152009.pdf

Sounds like Obama never hit 3.5%.

Another claim refuted, eh?

 

[Toddsterpatriot]

And didn't improve much till a bunch of states increased minimum wage.

Right, only by 3.5%. DURR.

 

[Brain357]

Yes, it was most of the uptick.

10% was a small part of the uptick.

What was the increase over the previous year?

Your source said the minimum wage hikes were 0.4% of the 3.9% total.

Even for a liberal, saying that was "most of the uptick", is especially moronic.

The uptick is how much the increase was larger than the previous years increase. How much was that?

How much was that?

3.9%, 0.4% of which was because of the minimum wage hikes.
A tiny fraction, not most.

How much was the uptick? If the rate of increase is always 3.5% then there is no uptick. How much was the increase in rate over the previous year?

If the rate of increase is always 3.5%

Who said it was always 3.5%? Where?

Again, from your NYT link.......

This analysis shows that growth in average wages has been running about 3.9 percent per year in the Current Population Survey over the past two years

So, 2018 and 2019, 3.9% with the MW hikes, 3.5% without.

And according to my earlier CNN link......

Wages were up 2.9% compared with a year earlier, the best pace since June 2009. Wage growth has been the last major measure to make meaningful progress since the end of the Great Recession.

2017 was higher than every year since June 2009, when it looks like real wages grew by 2.6%.

View attachment 418147

https://www.bls.gov/news.release/archives/realer_07152009.pdf

Sounds like Obama never hit 3.5%.

Another claim refuted, eh?

The year over year gain is not that much, making the gains from MW increases most of that gain.

 

[Brain357]

And didn't improve much till a bunch of states increased minimum wage.

Right, only by 3.5%. DURR.

Really weak for very low unemployment. Extremely weak for the greatest economy ever!