This is why we need to tax the wealthy

[DBA]

I’m not even suggesting you’re wrong. I’m just putting into perspective the official tax rate and the effective. In other words, it is fallacious for you to suggest the rich EFFECTIVELY pay a lot in taxes. I’m closer to being right than you are. I’m also saying the rich must pay a higher rate simply because it is economically viable. You really think our deficit isn’t high because of tax cuts?

No, I do not believe our deficit is high because of tax cuts. I believe in quite the opposite. Tax revenues tend to increase over time when taxes are cut and the economy flourishes as people spend more of the money they earn. Tax revenues tend to increase in the short term when taxes are raised and then trend back down as the economy subsides with people having less money to spend, which leads to yet another call for tax increases, ad nauseum.

 

[Billy000]

No, I do not believe our deficit is high because of tax cuts. I believe in quite the opposite. Tax revenues tend to increase over time when taxes are cut and the economy flourishes as people spend more of the money they earn. Tax revenues tend to increase in the short term when taxes are raised and then trend back down as the economy subsides with people having less money to spend, which leads to yet another call for tax increases, ad nauseum.

Christ this is a whole other conversation but I will summarize why you are wrong. You’re referring to raw tax dollars. You’re talking about an amount that goes up EVERY year we are not in a recession. That amount goes up regardless of any policy. Why? Because of inflation. More dollars are needed per year to pay for the same VALUE of a government program. That means that this number doesn’t reflect the actual VALUE of revenue. The way you compute the actual value is by computing it as a percentage of the GDP. Under republican policies, the percentage of GDP goes down.

 

[BluesLegend]

Raising capital gains is on everyone

Especially with the savage increase in home values which puts many working class people into a capital gains tax crunch when they sell their homes. But we know halfwit Democrats never think anything through the dipshits.

 

[francoHFW]

No super dupe stop LYING. The top 10% earn only 48% of the income but pay 71% of the income taxes. OH SNAP. How about corporate taxes, no the 'rich' pay most of those. Capital gains taxes, nope the 'rich' pay most of those too. Sales tax and various Dem wealth punishment taxes, again the 'rich' pay most of those.

This debate isn't going well for you super duper, facts have obliterated your Dem sheeple propaganda.

You just changed the data.

What is wrong with 25% when the bottom 50% pay far, far less?

Most INEQUALITY poverty and homelessness ever!! Great job!!!!!

 

[BluesLegend]

You just changed the data.

Most INEQUALITY poverty and homelessness ever!! Great job!!!!!

I laid waste to your entire propaganda stream franco, you will need to start over from scratch. Check in at the first aid station, the nurse will assist you.

 

[francoHFW]

The case you are attempting to make gets worse if you count all taxes. Wealthy people tend to have higher valued properties, therefore they pay higher property taxes. The only real exception to this rule is capital gains taxes which poor people don't typically pay anyway.

Wrong. State and local taxes hit the non rich twice as hard.

 

[francoHFW]

I laid waste to your entire propaganda stream franco, you will need to start over from scratch. Check in at the first aid station, the nurse will assist you.

https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.washingtonpost.com/news/wonk/wp/2012/09/19/heres-why-the-47-percent-argument-is-an-abuse-of-tax-data/&ved=2ahUKEwjRzqbo9-WDAxVUg4kEHfEWCu8QFnoECCMQAQ&usg=AOvVaw3jhDmd6-GBzFmhR2CWeKFG

 

[BluesLegend]

https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.washingtonpost.com/news/wonk/wp/2012/09/19/heres-why-the-47-percent-argument-is-an-abuse-of-tax-data/&ved=2ahUKEwjRzqbo9-WDAxVUg4kEHfEWCu8QFnoECCMQAQ&usg=AOvVaw3jhDmd6-GBzFmhR2CWeKFG

Franco franco franco...

 

[BackAgain]

We absolutely do and now we have to pay for that.

Should we pay our debts? Obviously.

Should we incur more massive debt at the same time?

Uhm. No.

 

[francoHFW]

You know it’s interesting to me that so many conservatives malign this bottom 50% when it’s obvious so many of them are in the bottom 50%. I really wonder if they don’t even realize it. Of course it’s worth noting that they pay payroll, local, and state taxes. State taxes alone account for 11%.

https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.washingtonpost.com/news/wonk/wp/2012/09/19/heres-why-the-47-percent-argument-is-an-abuse-of-tax-data/&ved=2ahUKEwjRzqbo9-WDAxVUg4kEHfEWCu8QFnoECCMQAQ&usg=AOvVaw3jhDmd6-GBzFmhR2CWeKFG

 

[francoHFW]

Franco franco franco...

Chump of greedy lying swine...

 

[pknopp]

Should we pay our debts? Obviously.

Should we incur more massive debt at the same time?

Uhm. No.

I never said we should.

 

[BackAgain]

I never said we should.

Ok …

 

[BluesLegend]

Chump of greedy lying swine...

On this date 17 Jan 2024 franco's false narrative about the rich not paying their fair share was annihilated when FACTS showed that the top 10% of earners paid 71% of the taxes on only 48% of the income. OUCH!

 

[francoHFW]

On this date 17 Jan 2024 franco's false narrative about the rich not paying their fair share was annihilated when FACTS showed that the top 10% of earners paid 71% of the taxes on only 48% of the income. O

Brainwashed functional moron ignoramuses can only talk about federal income tax, our only progressive tax... Poor America

 

[francoHFW]

On this date 17 Jan 2024 franco's false narrative about the rich not paying their fair share was annihilated when FACTS showed that the top 10% of earners paid 71% of the taxes on only 48% of the income. OUCH!

https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.washingtonpost.com/news/wonk/wp/2012/09/19/heres-why-the-47-percent-argument-is-an-abuse-of-tax-data/&ved=2ahUKEwjRzqbo9-WDAxVUg4kEHfEWCu8QFnoECCMQAQ&usg=AOvVaw3jhDmd6-GBzFmhR2CWeKFG

Bullshyt

 

[bripat9643]

Trump definitely let COVID spread. Without a doubt. The moron pretended it would just disappear on its own.

It was Nazi pelosi who refused to stop people coming from China, dumbass.

 

[DBA]

Christ this is a whole other conversation but I will summarize why you are wrong. You’re referring to raw tax dollars. You’re talking about an amount that goes up EVERY year we are not in a recession. That amount goes up regardless of any policy. Why? Because of inflation. More dollars are needed per year to pay for the same VALUE of a government program. That means that this number doesn’t reflect the actual VALUE of revenue. The way you compute the actual value is by computing it as a percentage of the GDP. Under republican policies, the percentage of GDP goes down.

For starters, tax revenues as a percentage of GDP does not go down under GOP leadership across the board. It only takes a quick glance at Obama’s full term vs Trump’s to see that. Another quick glance reveals that the same can be said for Reagan but to a larger extent. Of course my point is that lowering taxes ultimately leads to a better economy in the long run vs raising taxes which leads a to higher revenue in the short term. You would need to cross reference any tax increases and tax cuts along with their percentages and brackets affected for each president to come to any real conclusion on their affects on revenue.

The bottom line is that taking money out of people’s pockets leads to a slowing economy which leads to less tax revenue. Providing people with more money to spend leads to a growing economy which leads to more tax revenue. This is why, for example, COVID money was called stimulus in the first place. There is, however, a huge long-term fiscal difference in providing “free” money in the form of a payment from the government vs simply allowing people to keep more of what they actually earn.

 

[DBA]

Wrong. State and local taxes hit the non rich twice as hard

Many states have a progressive state income tax. As far as state sales taxes, I am all for a consumption tax provided we remove all other taxes. My guess is you prefer that people all get a digital ID which has their income or net worth associated. I may pay$25 dollars for a Big Mac while you may only pay $3. Elon Musk may pay $250k. Yeah, that’s only fair right?

 

[Ghost of a Rider]

Okay you do realize that if, theoretically, poor people paid 100% of their income in taxes they would still be paying less than what millionaires would pay. Doesn’t that mean anything to you?

So you're saying the rich should pay more taxes only because they make more? Is that what you're saying?