Trumps tax cuts turned out to be much more of a disaster than we ever could have imagined

[BWK]

By not creating and passing an actual Budget the House Democrats broke the law, as I already mentioned a Budget is required by Law every year...
The fact that you did not know that, did not know that out of control spending is one of the results of not producing a budget, and your refusal to acknowledge the Democrats have been wasting millions of tax dollars on their 3.5 year coup attempt for the PARTY'S benefit makes talking to you a waste of time, which perfectly describes this thread.

Your intelligence is wasted on BWK. Clearly from the OP.

The one you're attempting to educate and reason with is intellectually equivalent to .....
View attachment 297652

LOl! And how do you think I feel about you?

 

[The Purge]

NYT report reveals truth about Trump tax cuts Not only did Trumps tax cuts raise the deficit, it raised the deficit hundreds of billions of dollars more than what was thought. I thought the tax cuts were supposed to be deficit neutral? I thought the Republican party was the conservative party that was all about spending cuts to keep the deficit down? They aren't conservative at all when they get in power because they are all worried about their own pockets. What a bunch of thieves.

Your biggest misconception is our government is responsible with our tax money and had the Trump tax cuts not been enacted, that revenue would go to pay down the debt. No way. I'm always happy to see our government get less tax money especially when it is used to spur job growth (read that MORE taxpayers) bigger stock dividends, etc. Let's cut the size of government that's another way to free up wasted tax money and use that to service the debt.

Trump bragged to his goons at Mara Logo that he just made them richer than what they already were with the tax cuts, and I will have to suffer with paying that debt back by cutting the size of government? What are you cutting, and does it negatively affect me? Because, if it does, I'm not benefiting from the tax cut right?

Jealousy is an ugly thing, especially when it is so biased by you leftists...

I'm not jealous.
I'm angry.
Not a Leftist, either.

Why do the rich (Corps) f*ck everything up so readily?

Corps are here only to make money, so they have found out that most politicians, when you throw money at them, will do their bidding.....greed is a very strong driving force in this world.

 

[easyt65]

LOl! And how do you think I feel about you?

Who cares?

 

[BWK]

NYT report reveals truth about Trump tax cuts Not only did Trumps tax cuts raise the deficit, it raised the deficit hundreds of billions of dollars more than what was thought. I thought the tax cuts were supposed to be deficit neutral? I thought the Republican party was the conservative party that was all about spending cuts to keep the deficit down? They aren't conservative at all when they get in power because they are all worried about their own pockets. What a bunch of thieves.

Your biggest misconception is our government is responsible with our tax money and had the Trump tax cuts not been enacted, that revenue would go to pay down the debt. No way. I'm always happy to see our government get less tax money especially when it is used to spur job growth (read that MORE taxpayers) bigger stock dividends, etc. Let's cut the size of government that's another way to free up wasted tax money and use that to service the debt.

Trump bragged to his goons at Mara Logo that he just made them richer than what they already were with the tax cuts, and I will have to suffer with paying that debt back by cutting the size of government? What are you cutting, and does it negatively affect me? Because, if it does, I'm not benefiting from the tax cut right?

Jealousy is an ugly thing, especially when it is so biased by you leftists...

I'm not jealous.
I'm angry.
Not a Leftist, either.

Why do the rich (Corps) f*ck everything up so readily?

Corps are here only to make money, so they have found out that most politicians, when you throw money at them, will do their bidding.....greed is a very strong driving force in this world.

We agree for once.

 

[BWK]

LOl! And how do you think I feel about you?

Who cares?

Sheep do not. That's the whole point. Glad you got it.

 

[easyt65]

LOl! And how do you think I feel about you?

Who cares?

Sheep do not. That's the whole point. Glad you got it.

Then why did you ask, sheep?

 

[SobieskiSavedEurope]

NYT report reveals truth about Trump tax cuts Not only did Trumps tax cuts raise the deficit, it raised the deficit hundreds of billions of dollars more than what was thought. I thought the tax cuts were supposed to be deficit neutral? I thought the Republican party was the conservative party that was all about spending cuts to keep the deficit down? They aren't conservative at all when they get in power because they are all worried about their own pockets. What a bunch of thieves.

Your biggest misconception is our government is responsible with our tax money and had the Trump tax cuts not been enacted, that revenue would go to pay down the debt. No way. I'm always happy to see our government get less tax money especially when it is used to spur job growth (read that MORE taxpayers) bigger stock dividends, etc. Let's cut the size of government that's another way to free up wasted tax money and use that to service the debt.

Trump bragged to his goons at Mara Logo that he just made them richer than what they already were with the tax cuts, and I will have to suffer with paying that debt back by cutting the size of government? What are you cutting, and does it negatively affect me? Because, if it does, I'm not benefiting from the tax cut right?

Jealousy is an ugly thing, especially when it is so biased by you leftists...

I'm not jealous.
I'm angry.
Not a Leftist, either.

Why do the rich (Corps) f*ck everything up so readily?

Corps are here only to make money, so they have found out that most politicians, when you throw money at them, will do their bidding.....greed is a very strong driving force in this world.

Greed above nation, culture, values etc.

You CAN NOT be a Capitalist & a Nationalist.

You CAN ACTUALLY be a Communist & a Nationalist.

 

[BWK]

LOl! And how do you think I feel about you?

Who cares?

Sheep do not. That's the whole point. Glad you got it.

Then why did you ask, sheep?

Ha idiot, no one was asking you.

 

[Crepitus]

NYT report reveals truth about Trump tax cuts Not only did Trumps tax cuts raise the deficit, it raised the deficit hundreds of billions of dollars more than what was thought. I thought the tax cuts were supposed to be deficit neutral? I thought the Republican party was the conservative party that was all about spending cuts to keep the deficit down? They aren't conservative at all when they get in power because they are all worried about their own pockets. What a bunch of thieves.

Oh it's the NYT, never mind

So the deficit isn't ballooning then?

 

[Toddsterpatriot]

Republicans spend like drunken sailors when they they have the power, then bitch about the deficits they caused when they're out of control. Bitchers, whiners, and criminals is what they are for the most part, like the present low life in the white house. The few decent republicans have to be careful their decency is not found out by the majority of the republican rat pack.

Actually Progs tax the working class while cutting the defense budget and raising their domestic agendas. Repubs have to make deals for their defense budgets with Progs when they are in power that keeps the domestic programs in general rising.

Poverty Spikes In America … While the Government Throws Money at the Super-Elite - The Big Picture

\

It’s the Inequality, Stupid

Facts have no meaning for a flock of Sheep.

America's richest 400 families now pay a lower tax rate than the middle class

https://www.washingtonpost.com/busi...-lower-tax-rate-than-working-class-last-year/

The 400 richest U.S. families now pay a lower overall tax rate than the middle-class, the first time that's happened in 100 years, according to economists Emmanuel Saez and Gabriel Zucman.

Hilarious!!

Not surprised that you fall for this bs.

 

[SobieskiSavedEurope]

Republicans spend like drunken sailors when they they have the power, then bitch about the deficits they caused when they're out of control. Bitchers, whiners, and criminals is what they are for the most part, like the present low life in the white house. The few decent republicans have to be careful their decency is not found out by the majority of the republican rat pack.

Actually Progs tax the working class while cutting the defense budget and raising their domestic agendas. Repubs have to make deals for their defense budgets with Progs when they are in power that keeps the domestic programs in general rising.

Poverty Spikes In America … While the Government Throws Money at the Super-Elite - The Big Picture

\

It’s the Inequality, Stupid

Facts have no meaning for a flock of Sheep.

America's richest 400 families now pay a lower tax rate than the middle class

https://www.washingtonpost.com/busi...-lower-tax-rate-than-working-class-last-year/

The 400 richest U.S. families now pay a lower overall tax rate than the middle-class, the first time that's happened in 100 years, according to economists Emmanuel Saez and Gabriel Zucman.

Hilarious!!

Not surprised that you fall for this bs.

Anything I don't like is Fake News, because the Baboon in chief says so.

 

[BWK]

Republicans spend like drunken sailors when they they have the power, then bitch about the deficits they caused when they're out of control. Bitchers, whiners, and criminals is what they are for the most part, like the present low life in the white house. The few decent republicans have to be careful their decency is not found out by the majority of the republican rat pack.

Actually Progs tax the working class while cutting the defense budget and raising their domestic agendas. Repubs have to make deals for their defense budgets with Progs when they are in power that keeps the domestic programs in general rising.

Poverty Spikes In America … While the Government Throws Money at the Super-Elite - The Big Picture

\

It’s the Inequality, Stupid

Facts have no meaning for a flock of Sheep.

America's richest 400 families now pay a lower tax rate than the middle class

https://www.washingtonpost.com/busi...-lower-tax-rate-than-working-class-last-year/

The 400 richest U.S. families now pay a lower overall tax rate than the middle-class, the first time that's happened in 100 years, according to economists Emmanuel Saez and Gabriel Zucman.

Hilarious!!

Not surprised that you fall for this bs.

Should we fall for your non-existent alternative explanation that doesn't exist?

 

[BWK]

NYT report reveals truth about Trump tax cuts Not only did Trumps tax cuts raise the deficit, it raised the deficit hundreds of billions of dollars more than what was thought. I thought the tax cuts were supposed to be deficit neutral? I thought the Republican party was the conservative party that was all about spending cuts to keep the deficit down? They aren't conservative at all when they get in power because they are all worried about their own pockets. What a bunch of thieves.

Oh it's the NYT, never mind

So the deficit isn't ballooning then?

They haven't got a friggin clue.

 

[Crepitus]

NYT report reveals truth about Trump tax cuts Not only did Trumps tax cuts raise the deficit, it raised the deficit hundreds of billions of dollars more than what was thought. I thought the tax cuts were supposed to be deficit neutral? I thought the Republican party was the conservative party that was all about spending cuts to keep the deficit down? They aren't conservative at all when they get in power because they are all worried about their own pockets. What a bunch of thieves.

Oh it's the NYT, never mind

So the deficit isn't ballooning then?

They haven't got a friggin clue.

Nope. If Hannity didn't tell.them it never happened as far as they are concerned.

 

[Toddsterpatriot]

Actually Progs tax the working class while cutting the defense budget and raising their domestic agendas. Repubs have to make deals for their defense budgets with Progs when they are in power that keeps the domestic programs in general rising.

Poverty Spikes In America … While the Government Throws Money at the Super-Elite - The Big Picture

\

It’s the Inequality, Stupid

Facts have no meaning for a flock of Sheep.

America's richest 400 families now pay a lower tax rate than the middle class

https://www.washingtonpost.com/busi...-lower-tax-rate-than-working-class-last-year/

The 400 richest U.S. families now pay a lower overall tax rate than the middle-class, the first time that's happened in 100 years, according to economists Emmanuel Saez and Gabriel Zucman.

Hilarious!!

Not surprised that you fall for this bs.

Anything I don't like is Fake News, because the Baboon in chief says so.

BS statistics are BS.
If has nothing to do with fake news or ex-presidents.

 

[Toddsterpatriot]

Actually Progs tax the working class while cutting the defense budget and raising their domestic agendas. Repubs have to make deals for their defense budgets with Progs when they are in power that keeps the domestic programs in general rising.

Poverty Spikes In America … While the Government Throws Money at the Super-Elite - The Big Picture

\

It’s the Inequality, Stupid

Facts have no meaning for a flock of Sheep.

America's richest 400 families now pay a lower tax rate than the middle class

https://www.washingtonpost.com/busi...-lower-tax-rate-than-working-class-last-year/

The 400 richest U.S. families now pay a lower overall tax rate than the middle-class, the first time that's happened in 100 years, according to economists Emmanuel Saez and Gabriel Zucman.

Hilarious!!

Not surprised that you fall for this bs.

Should we fall for your non-existent alternative explanation that doesn't exist?

In viewing the graph, the “total tax rate” of a Top 400 earner (23.0%) is lower than that of a “working class” taxpayer with taxable income of $25,000 (24.5%), an apparent “tax rate” advantage of 1.5% points. It is this comparison that the authors claim proves their assertion that “the working class is now paying higher tax rates than the richest people in America.”

Of course, a closer look at the graph shows that payroll tax is the tax category in which the Top 400 taxpayer has the largest tax rate advantage versus the working class taxpayer with taxable income of $25,000. The working class taxpayer’s payroll tax burden is 11.7 % of taxable income. The payroll tax burden for a Top 400 taxpayer is only 0.2%, a difference of 11.5% points. On the surface, this may seem unfair, but beyond simply being a function of how payroll taxes are assessed (and benefits received), this difference is in no way reflective of any kind of tax “injustice”, as the authors imply. Here’s why.

Payroll taxes are paid by taxpayers to fund our two major entitlement programs, Social Security and Medicare. While these taxes do not fund a specific taxpayer’s future benefits, taxpayers pay them in order to become eligible to receive future Social Security and Medicare benefits. In essence, they are paid to buy a future “ticket on the bus”, and, in the case of Social Security, the amount of benefits received is strongly correlated with the amount of tax paid.

The Social Security tax is assessed at a rate of 6.2% on a capped amount of gross wage income each calendar year ($128,400 of wage income in 2018). Other sources of income (interest, dividends, business income, and capital gains) are not subject to the Social Security tax. Hence, the most anyone paid in Social Security taxes in 2018 was $7,961.

Someone making $37,000 in gross wages (before deductions) in 2018 paid $2,294 in Social Security tax (Social Security tax is paid on gross wages, not taxable income). Applying the $12,000 standard deduction against gross wages yields taxable wages of $25,000 (the authors used taxable wages as the denominator in compiling their “tax rate” analysis). Thus, the effective Social Security rate (for someone earning $37,000 in gross wages) in the authors’ analysis (with taxable income of $25,000 as the denominator) is 9.2%.

I estimate that the average taxable income for a Top 400 earner was roughly $350 million in 2018. Assuming that at least $128,400 of this income was wage income (a good assumption), someone with taxable income of $350 million paid Social Security taxes of $7,961 in 2018, or .003% of their total taxable income. In the eyes of the authors, this ~9.2% Social Security tax rate differential (between the lower-paid earner’s rate and the Top 400 earner’s rate) is indicative of some sort of “tax injustice”. They are profoundly wrong.

https://www.realclearmarkets.com/ar...vs_workers_nyt_redefines_gullible_103947.html

 

[Toddsterpatriot]

Actually Progs tax the working class while cutting the defense budget and raising their domestic agendas. Repubs have to make deals for their defense budgets with Progs when they are in power that keeps the domestic programs in general rising.

Poverty Spikes In America … While the Government Throws Money at the Super-Elite - The Big Picture

\

It’s the Inequality, Stupid

Facts have no meaning for a flock of Sheep.

America's richest 400 families now pay a lower tax rate than the middle class

https://www.washingtonpost.com/busi...-lower-tax-rate-than-working-class-last-year/

The 400 richest U.S. families now pay a lower overall tax rate than the middle-class, the first time that's happened in 100 years, according to economists Emmanuel Saez and Gabriel Zucman.

Hilarious!!

Not surprised that you fall for this bs.

Should we fall for your non-existent alternative explanation that doesn't exist?

What should be counted as a tax?
Unlike most analysts, Saez and Zucman (hereafter, SZ) include state and local as well as federal taxes in their calculations. They also omit the refundable portions of the earned income credit and the child credit (and other refundable tax credits), which they call transfers rather than elements of the tax code. Both of these adjustments make the tax system look more regressive than under conventional measures.

Saez and Zucman say that everything you thought you knew about tax policy is wrong

 

[easyt65]

LOl! And how do you think I feel about you?

Who cares?

Sheep do not. That's the whole point. Glad you got it.

Then why did you ask, sheep?

Ha idiot, no one was asking you.

I never said they did, lil' ignorant snowflake.

 

[BWK]

Poverty Spikes In America … While the Government Throws Money at the Super-Elite - The Big Picture

\

It’s the Inequality, Stupid

Facts have no meaning for a flock of Sheep.

America's richest 400 families now pay a lower tax rate than the middle class

https://www.washingtonpost.com/busi...-lower-tax-rate-than-working-class-last-year/

The 400 richest U.S. families now pay a lower overall tax rate than the middle-class, the first time that's happened in 100 years, according to economists Emmanuel Saez and Gabriel Zucman.

Hilarious!!

Not surprised that you fall for this bs.

Should we fall for your non-existent alternative explanation that doesn't exist?

View attachment 297668

In viewing the graph, the “total tax rate” of a Top 400 earner (23.0%) is lower than that of a “working class” taxpayer with taxable income of $25,000 (24.5%), an apparent “tax rate” advantage of 1.5% points. It is this comparison that the authors claim proves their assertion that “the working class is now paying higher tax rates than the richest people in America.”

Of course, a closer look at the graph shows that payroll tax is the tax category in which the Top 400 taxpayer has the largest tax rate advantage versus the working class taxpayer with taxable income of $25,000. The working class taxpayer’s payroll tax burden is 11.7 % of taxable income. The payroll tax burden for a Top 400 taxpayer is only 0.2%, a difference of 11.5% points. On the surface, this may seem unfair, but beyond simply being a function of how payroll taxes are assessed (and benefits received), this difference is in no way reflective of any kind of tax “injustice”, as the authors imply. Here’s why.

Payroll taxes are paid by taxpayers to fund our two major entitlement programs, Social Security and Medicare. While these taxes do not fund a specific taxpayer’s future benefits, taxpayers pay them in order to become eligible to receive future Social Security and Medicare benefits. In essence, they are paid to buy a future “ticket on the bus”, and, in the case of Social Security, the amount of benefits received is strongly correlated with the amount of tax paid.

The Social Security tax is assessed at a rate of 6.2% on a capped amount of gross wage income each calendar year ($128,400 of wage income in 2018). Other sources of income (interest, dividends, business income, and capital gains) are not subject to the Social Security tax. Hence, the most anyone paid in Social Security taxes in 2018 was $7,961.

Someone making $37,000 in gross wages (before deductions) in 2018 paid $2,294 in Social Security tax (Social Security tax is paid on gross wages, not taxable income). Applying the $12,000 standard deduction against gross wages yields taxable wages of $25,000 (the authors used taxable wages as the denominator in compiling their “tax rate” analysis). Thus, the effective Social Security rate (for someone earning $37,000 in gross wages) in the authors’ analysis (with taxable income of $25,000 as the denominator) is 9.2%.

I estimate that the average taxable income for a Top 400 earner was roughly $350 million in 2018. Assuming that at least $128,400 of this income was wage income (a good assumption), someone with taxable income of $350 million paid Social Security taxes of $7,961 in 2018, or .003% of their total taxable income. In the eyes of the authors, this ~9.2% Social Security tax rate differential (between the lower-paid earner’s rate and the Top 400 earner’s rate) is indicative of some sort of “tax injustice”. They are profoundly wrong.

https://www.realclearmarkets.com/ar...vs_workers_nyt_redefines_gullible_103947.html

USA – WID – World Inequality Database

Trump Tax Cuts Helped Billionaires Pay Less Taxes Than The Working Class In 2018

America's richest 400 families now pay a lower tax rate than the middle class

 

[Toddsterpatriot]

Facts have no meaning for a flock of Sheep.

America's richest 400 families now pay a lower tax rate than the middle class

https://www.washingtonpost.com/busi...-lower-tax-rate-than-working-class-last-year/

The 400 richest U.S. families now pay a lower overall tax rate than the middle-class, the first time that's happened in 100 years, according to economists Emmanuel Saez and Gabriel Zucman.

Hilarious!!

Not surprised that you fall for this bs.

Should we fall for your non-existent alternative explanation that doesn't exist?

View attachment 297668

In viewing the graph, the “total tax rate” of a Top 400 earner (23.0%) is lower than that of a “working class” taxpayer with taxable income of $25,000 (24.5%), an apparent “tax rate” advantage of 1.5% points. It is this comparison that the authors claim proves their assertion that “the working class is now paying higher tax rates than the richest people in America.”

Of course, a closer look at the graph shows that payroll tax is the tax category in which the Top 400 taxpayer has the largest tax rate advantage versus the working class taxpayer with taxable income of $25,000. The working class taxpayer’s payroll tax burden is 11.7 % of taxable income. The payroll tax burden for a Top 400 taxpayer is only 0.2%, a difference of 11.5% points. On the surface, this may seem unfair, but beyond simply being a function of how payroll taxes are assessed (and benefits received), this difference is in no way reflective of any kind of tax “injustice”, as the authors imply. Here’s why.

Payroll taxes are paid by taxpayers to fund our two major entitlement programs, Social Security and Medicare. While these taxes do not fund a specific taxpayer’s future benefits, taxpayers pay them in order to become eligible to receive future Social Security and Medicare benefits. In essence, they are paid to buy a future “ticket on the bus”, and, in the case of Social Security, the amount of benefits received is strongly correlated with the amount of tax paid.

The Social Security tax is assessed at a rate of 6.2% on a capped amount of gross wage income each calendar year ($128,400 of wage income in 2018). Other sources of income (interest, dividends, business income, and capital gains) are not subject to the Social Security tax. Hence, the most anyone paid in Social Security taxes in 2018 was $7,961.

Someone making $37,000 in gross wages (before deductions) in 2018 paid $2,294 in Social Security tax (Social Security tax is paid on gross wages, not taxable income). Applying the $12,000 standard deduction against gross wages yields taxable wages of $25,000 (the authors used taxable wages as the denominator in compiling their “tax rate” analysis). Thus, the effective Social Security rate (for someone earning $37,000 in gross wages) in the authors’ analysis (with taxable income of $25,000 as the denominator) is 9.2%.

I estimate that the average taxable income for a Top 400 earner was roughly $350 million in 2018. Assuming that at least $128,400 of this income was wage income (a good assumption), someone with taxable income of $350 million paid Social Security taxes of $7,961 in 2018, or .003% of their total taxable income. In the eyes of the authors, this ~9.2% Social Security tax rate differential (between the lower-paid earner’s rate and the Top 400 earner’s rate) is indicative of some sort of “tax injustice”. They are profoundly wrong.

https://www.realclearmarkets.com/ar...vs_workers_nyt_redefines_gullible_103947.html

USA – WID – World Inequality Database

Trump Tax Cuts Helped Billionaires Pay Less Taxes Than The Working Class In 2018

America's richest 400 families now pay a lower tax rate than the middle class

In viewing the graph, the “total tax rate” of a Top 400 earner (23.0%) is lower than that of a “working class” taxpayer with taxable income of $25,000 (24.5%), an apparent “tax rate” advantage of 1.5% points. It is this comparison that the authors claim proves their assertion that “the working class is now paying higher tax rates than the richest people in America.”

Of course, a closer look at the graph shows that payroll tax is the tax category in which the Top 400 taxpayer has the largest tax rate advantage versus the working class taxpayer with taxable income of $25,000. The working class taxpayer’s payroll tax burden is 11.7 % of taxable income. The payroll tax burden for a Top 400 taxpayer is only 0.2%, a difference of 11.5% points. On the surface, this may seem unfair, but beyond simply being a function of how payroll taxes are assessed (and benefits received), this difference is in no way reflective of any kind of tax “injustice”, as the authors imply. Here’s why.

Payroll taxes are paid by taxpayers to fund our two major entitlement programs, Social Security and Medicare. While these taxes do not fund a specific taxpayer’s future benefits, taxpayers pay them in order to become eligible to receive future Social Security and Medicare benefits. In essence, they are paid to buy a future “ticket on the bus”, and, in the case of Social Security, the amount of benefits received is strongly correlated with the amount of tax paid.

The Social Security tax is assessed at a rate of 6.2% on a capped amount of gross wage income each calendar year ($128,400 of wage income in 2018). Other sources of income (interest, dividends, business income, and capital gains) are not subject to the Social Security tax. Hence, the most anyone paid in Social Security taxes in 2018 was $7,961.

Someone making $37,000 in gross wages (before deductions) in 2018 paid $2,294 in Social Security tax (Social Security tax is paid on gross wages, not taxable income). Applying the $12,000 standard deduction against gross wages yields taxable wages of $25,000 (the authors used taxable wages as the denominator in compiling their “tax rate” analysis). Thus, the effective Social Security rate (for someone earning $37,000 in gross wages) in the authors’ analysis (with taxable income of $25,000 as the denominator) is 9.2%.

I estimate that the average taxable income for a Top 400 earner was roughly $350 million in 2018. Assuming that at least $128,400 of this income was wage income (a good assumption), someone with taxable income of $350 million paid Social Security taxes of $7,961 in 2018, or .003% of their total taxable income. In the eyes of the authors, this ~9.2% Social Security tax rate differential (between the lower-paid earner’s rate and the Top 400 earner’s rate) is indicative of some sort of “tax injustice”. They are profoundly wrong.

https://www.realclearmarkets.com/ar...vs_workers_nyt_redefines_gullible_103947.html