War on The Rich: Dumbest Idea in History of Man

[Boss]

Yes Wry, let's send you on a hunt with Dick Cheney!

 

[Wry Catcher]

Yes Wry, let's send you on a hunt with Dick Cheney!

Since I don't shoot animals we would need to hunt for something other than a creature which holds no malice for me; maybe we might hunt Romney's offshore tax shelter?

 

[EdwardBaiamonte]

I

Today the members of the hoi polloi find fees rising for everything - .

so do the top 1% . Under Reagan they paid 22% of all federal tax, now they pay 40%. The govt can waste all the money there is!!

 

[RKMBrown]

I

Today the members of the hoi polloi find fees rising for everything - .

so do the top 1% . Under Reagan they paid 22% of all federal tax, now they pay 40%. The govt can waste all the money there is!!

And then some.

 

[EdwardBaiamonte]

so do the top 1% . Under Reagan they paid 22% of all federal tax, now they pay 40%. The govt can waste all the money there is!!

And then some.[/QUOTE]

the liberal will never understand what is happening so just keep demanding more and more welfare entitlements and wondering why it is never enough.

 

[zeke]

I

Today the members of the hoi polloi find fees rising for everything - .

so do the top 1% . Under Reagan they paid 22% of all federal tax, now they pay 40%. The govt can waste all the money there is!!

Think about that dude. . People pay tax on income. The more income the more tax paid. Ultra rich and rich people have seen large increases in their income. Of fucking course they pay more tax now. Their income is greater. Much greater..

You act like that increase in the amount of tax paid is the result of an increase in rates. It ain't fucking so.
It's because they have the increase in income.

 

[RKMBrown]

I

Today the members of the hoi polloi find fees rising for everything - .

so do the top 1% . Under Reagan they paid 22% of all federal tax, now they pay 40%. The govt can waste all the money there is!!

Think about that dude. . People pay tax on income. The more income the more tax paid. Ultra rich and rich people have seen large increases in their income. Of fucking course they pay more tax now. Their income is greater. Much greater..

You act like that increase in the amount of tax paid is the result of an increase in rates. It ain't fucking so.
It's because they have the increase in income.

Not so fast. That's not how the math works.

Here's what happened:

Before the first three quintiles of income earners were paying a lot more taxes. Now they pay pretty much zero for the first two quintiles to very low for the third quintile. The bottom three quintiles of income earners have passed their share of the tax burden to the two upper quintiles. Thus the massive increase in relative amounts paid by the upper quintiles.

 

[Boss]

I

Today the members of the hoi polloi find fees rising for everything - .

so do the top 1% . Under Reagan they paid 22% of all federal tax, now they pay 40%. The govt can waste all the money there is!!

Think about that dude. . People pay tax on income. The more income the more tax paid. Ultra rich and rich people have seen large increases in their income. Of fucking course they pay more tax now. Their income is greater. Much greater..

You act like that increase in the amount of tax paid is the result of an increase in rates. It ain't fucking so.
It's because they have the increase in income.

Here's what you don't seem to comprehend, zeke... Earned income is not net wealth. Most of the people who report a high annual income are actually small businesses reporting income as individual tax payers. These are not wealthy people for the most part. Every small business in America reports their income as an individual tax payer.

The uber-wealthy whom you hate and loathe so much, are not income earners. They are not subject to US income taxes because they don't earn incomes. They are wealthy people, they don't need to earn incomes anymore. They do gain wealth revenue through investments and dividends, all of which are taxed differently than income. You can jack those rates up and the wealthy will simply move their wealth elsewhere and you kill off their investments. Again, they do not have to earn wealth, they already have wealth.

As for raising tax rates on the top incomes as a means to raise revenue, it simply does not work. If you go back and look at every time we've raised the top marginal rate, we realize a decrease in revenue as a percentage of GDP. You get a slight windfall the first year when you catch people off-guard, before they are able to mitigate your increase, then you get a dramatic and persistent decrease in revenue in following years. This has happened every single time someone has the brilliant idea of raising the top marginal income tax rates in America. In addition, when you look at the times where we've LOWERED the top marginal rates, the revenues are increased as percentage of GDP, every single time.

 

[EdwardBaiamonte]

You act like that increase in the amount of tax paid is the result of an increase in rates. It ain't fucking so.
It's because they have the increase in income.

dear the bottom 45% now pay nothing!! In 1980 they paid 20% of all federal income tax. Its stupid to tax the rich since they are the ones who know how to use money to expand the economy. Now you understand why growth is so slow and there is no recovery here any more than there was a recovery in the USSR.

 

[Boss]

Its stupid to tax the rich...

Especially since you can't actually tax the rich.

 

[EdwardBaiamonte]

Its stupid to tax the rich...

Especially since you can't actually tax the rich.

yes most of their wealth is in private businesses so they just raise prices to compensate. We have the corporate tax for example that is passed on to us in the form of higher prices just to pander to the pure ignorance of liberals.

 

[RKMBrown]

The way to tax the rich is to tax sales, property, and property imports.

 

[zeke]

Here's what you don't seem to comprehend, zeke... Earned income is not net wealth.

You are becoming to fucking stupid to respond to. It was fun while it lasted. But you really are fucking stupid

For instance. The "discussion" was about the amount of tax paid by the very VERY wealthy. And you come in with "earned income is not net wealth".

Wtf does that have to do with the conversation.

Income tax is paid on taxable income you dumb fuck. Income tax is not paid on "net wealth"

You really are stupid. Then want to claim the ultra rich don't have any income. You dumb dude. Really fucking dumb.

 

[zeke]

I

Today the members of the hoi polloi find fees rising for everything - .

so do the top 1% . Under Reagan they paid 22% of all federal tax, now they pay 40%. The govt can waste all the money there is!!

Think about that dude. . People pay tax on income. The more income the more tax paid. Ultra rich and rich people have seen large increases in their income. Of fucking course they pay more tax now. Their income is greater. Much greater..

You act like that increase in the amount of tax paid is the result of an increase in rates. It ain't fucking so.
It's because they have the increase in income.

Not so fast. That's not how the math works.

Here's what happened: (gobblydigook)

Before the first three quintiles of income earners were paying a lot more taxes. Now they pay pretty much zero for the first two quintiles to very low for the third quintile. The bottom three quintiles of income earners have passed their share of the tax burden to the two upper quintiles. Thus the massive increase in relative amounts paid by the upper quintiles.

You as stupid as your buddy boss ain't ya.

Are you really trying to claim the taxes went up a substantial amount on the ultra rich?

It's one of two things you idiot. Either rates went up on the ultra rich or their incomes went up. And we know it wasn't the rates that increased. And we absolutely know that their income has risen dramatically.

And nobody "passed their share" to anybody. If you have no income, less income or declining income, you will pay less in tax. If you have more, increasing income you pay more tax. Now which groups you mentioned have seen the increase in income?

 

[The Rabbi]

Here's what you don't seem to comprehend, zeke... Earned income is not net wealth.

You are becoming to fucking stupid to respond tob.

Ironic post is ironic.
Hey, Zeke. If you can't recognize the differences among "two" "too" and "to" do you really think calling other people stupid is a good idea?
As for his point, he is correct. A person could be fabulously wealthy and yet have low income.

 

[zeke]

Hey fuck you rabbit. If the BEST you got is I didn't make use of "to" correctly.

Let me see if I got this verbiage correct; go fuck yourself rabbit.
And you stupid fuck, the topic was taxes paid on taxable "income".
Are you smart enough to understand that income tax is paid on taxable income. Or is that two hard for you to understand? LMAO.

 

[The Rabbi]

Hey fuck you rabbit. If the BEST you got is I didn't make use of "to" correctly.

Let me see if I got this verbiage correct; go fuck yourself rabbit.
And you stupid fuck, the topic was taxes paid on taxable "income".
Are you smart enough to understand that income tax is paid on taxable income. Or is that two hard for you to understand? LMAO.

Hey Zeke are you starting your bender early or finishing one late?
He's pointing out that wealth is not the same as income. What about that is unclear to you?

 

[zeke]

Hey rabbit, If the ultra wealthy had all the income, they could pay all the income tax.

If the ultra wealthy had no income, they wouldn't have to pay ANY income tax. And they would still be ultra wealthy. And you all would be denied one of your favorite rants.

You think the loss of millions of good paying manufacturing jobs caused the amount of income tax collected from the middle class to drop? Probably not knowing how weird you think.

Here's an easy one rabbit. Which person pays more in income tax. The person with 150k in income or the person with 30k income.

 

[zeke]

He's pointing out that wealth is not the same as income. What about that is unclear to you?

Dude, what part of that wasn't the topic of the conversation do you not understand? You a crack head or something?

 

[zeke]

Are you smart enough to understand that income tax is paid on taxable income. Or is that two hard for you to understand? LMAO.

You WERE NOT smart enough to understand what I wrote above. You come back with the same fucking stupid ass comment you started out with. Dumb fucking rabbit. Are you a crack head? Or is it meth?