Why American Workers Pay Twice As Much In Taxes As Wealthy Investors

[Brain357]

'Why American Workers Pay Twice As Much In Taxes As Wealthy Investors'

FLASHBACK:
Obama 'stole' hard-working American tax dollars to ensure his big donors who had invested in Solyndra and 12 other bankrupt 'Green Energy' companies did not lose a dime of their investment money. The tax payers did not invest in those companies, still lost money when they went bankrupt, and no one ever paid them back....

Obama-backed green energy failures leave taxpayers with $2.2 billion tab, audit finds

It is amazing corporate welfare is still going strong and supported by many "conservatives".

 

[Wry Catcher]

All income should be taxed at the same rate regardless how it was earned.

How many times does someone have to pay taxes on THEIR money? once, twice, 3 times, or more? I guess since a liberal cant make money they want everyone to be taxed to where there isn't any money left to tax, then everyone will be equal, equally poor and equally miserable. That is how a libfucks thinks, because they are jealous of those that have succeeded in life.

So equality only applies when you want it to apply? It's OK, the pittance you'd supply if what I asked happened wouldn't amount to enough to buy a $.25 piece of candy.

They pay the same amount as everyone else for the income they earn. That is on the first 9275 folks making a million dollars a year still pay on only 10% on that. Then they get taxed at 15% for income between 9276 and 37,650. And then 25% on the next 91,150 and so on.....

If what you say is correct, why is the IRS revenue source calling you a liar? Seems to me that the poor isn't paying enough and should be paying a hell of a lot more. No I don't feel pity for the poor, as at one time I was poor, but I didn't stay a victim of liberalism, but moved on with Gods gift and excelled at what I did.

why not just stop spending what they haven't got? hmmm debt ceiling?

Sure, that's a solution. A very simple solution which belies what a budget is; what a budget is, is a plan. And, plans go awry! Natural disasters, man made disasters, epidemics and pandemics, and wars cannot be predicted and thus planned for, and when they happen the budget gets blown out the window.

The best way to control spending is to control the Pols. As I've posted a number of times we need a Constitutional Amendment giving the POTUS the line-item veto. The Congress can override his or her veto, and the voter can decide on each issue vetoed and / or overridden as to which person(s) they want to be held accountable.

Are you saying we shouldn't have a budget? If you're not going to stick to the plan, why have one. The interesting thing is that you support a plan that has as part of it, spending more than we bring in. That's not a budget.

I'm not saying (I didn't write) we should not have a budget. My point is very simple, budgets predict expenditures for a year, sometimes two, but those predictions are rarely correct. Adjustments need to be made for unforeseen events, like the N. Korean Kook, Harvey and Irma.

However, The Congress will make a budget, some of the items will be pork, others items will be necessary but insufficient. Let POTUS decide what to cut, and in his message to The Congress ask them to use the money cut to take care of urgent needs. Then the two chambers can work it out and send the revised budget back to the White House.

 

[Yarddog]

All income should be taxed at the same rate regardless how it was earned.

Investment is a risk, because you can also lose. But i believe Investment is encouraged by giving a tax break.
When people invest it also creates capital for building, which creates jobs. It's also a free country and anyone who works for a living can participate in this thing called "investing" and they can also benefit from those tax breaks.

If you lose you can write off the loss can't you? It's still income. If we're going to tax income it should be all income regardless of the source.

Thats a valid point but it is still up for debate. I'm not an economist and wont pretend to be but I'm still of the opinion that a lot of people INVEST because they CAN get that tax break. it's an incentive not to put that money somewhere else.

I think a lot of people looking in from the outside where investors are concerned carry a bit of sour grapes with them for some reason. The real bottom line I believe, is not how equally every source of income is taxed but rather that tax revenues are maximized. Whats the best way to do that? increase everyones tax rate to 50%?
Some short sighted people would say just that because it looks very straight forward on paper. But i believe what a lot of others believe, in that Growing the economy is the best way to maximize tax revenue. If you increase investment, you spur on growth, which DOES grow the economy. A good example would be people who invest in commercial real estate in one form or another. That investment enables contractors to go out and build buildings, and it enables Buyers to buy those buildings... and just in that construction there is a huge supply chain of jobs created, from financial institution jobs all the way down to hot dog vendors.

Some guy works all his life paying taxes, so when he retires why cant he become an investor and reap those benefits that are available to everyone? It's no secret and its not some good old boys club. I'd rather see someone invest their money and become more wealthy than spend it all and end up living on SS or becoming a burden to someone else.

It's also kind of interesting that you have people today complaining about White Priviledge and how they have such a "head start" on people of color. Well, one of the ways that people of color can bring themselves up to a culture of family wealth are through those very same financial tools that 'whites' have traditionally used over the years. Investing and owning property. It seems though that the socialist wing of the Democratic party would like to keep a certain segment of our society in perpetual poverty.

 

[hazlnut]

Let’s say you and I are neighbors. You’re an emergency room doctor, and I don’t work, thanks to a pile of money my grandparents left me.

You spend your days and nights stitching up gunshot wounds and helping children survive asthma attacks. I’ve gotten really good at World of Warcraft, winning Ebay auctions, and frying shishito peppers to just the right crispiness.

Let’s also say we both report $300,000 in income to the Internal Revenue Service this year. Who pays more in taxes?

You do, by a lot. You owe the IRS about $38,500 more, assuming each of us pays the maximum with no special deductions. I also have more flexibility to lower my burden with tax planning strategies and other tricks, and I get to skip about $24,000 in payroll taxes that you and your employer must fork over each year.

Why American Workers Pay Twice as Much in Taxes as Wealthy Investors

Great thread!

Outstanding!!

But many of the folks here at USMB are pretty brainwashed to believe that taxes are just too high and taxing the rich is Marxist redistribution of wealth, blah, blah, blah, noise...

I've tried to explain how the system was rigged starting back in the 80's so that wealth accumulated at the top level over time. They don't want to know.

Now there are trillions of dollars hiding offshore, individual and corporate -- money that was made in American markets off the American consumer driven economy. And those trillions are out of reach unless the U.S. is prepared to enact retroactive clawback laws… Keeping in mind the hell storm of lobbyists for the rich that would shut any attempt down…

But keep up the good work. Maybe we can save one or two of these people, wake them up with a red pill of truth…

 

[Conservative65]

All income should be taxed at the same rate regardless how it was earned.

How many times does someone have to pay taxes on THEIR money? once, twice, 3 times, or more? I guess since a liberal cant make money they want everyone to be taxed to where there isn't any money left to tax, then everyone will be equal, equally poor and equally miserable. That is how a libfucks thinks, because they are jealous of those that have succeeded in life.

They pay the same amount as everyone else for the income they earn. That is on the first 9275 folks making a million dollars a year still pay on only 10% on that. Then they get taxed at 15% for income between 9276 and 37,650. And then 25% on the next 91,150 and so on.....

If what you say is correct, why is the IRS revenue source calling you a liar? Seems to me that the poor isn't paying enough and should be paying a hell of a lot more. No I don't feel pity for the poor, as at one time I was poor, but I didn't stay a victim of liberalism, but moved on with Gods gift and excelled at what I did.

why not just stop spending what they haven't got? hmmm debt ceiling?

Sure, that's a solution. A very simple solution which belies what a budget is; what a budget is, is a plan. And, plans go awry! Natural disasters, man made disasters, epidemics and pandemics, and wars cannot be predicted and thus planned for, and when they happen the budget gets blown out the window.

The best way to control spending is to control the Pols. As I've posted a number of times we need a Constitutional Amendment giving the POTUS the line-item veto. The Congress can override his or her veto, and the voter can decide on each issue vetoed and / or overridden as to which person(s) they want to be held accountable.

Are you saying we shouldn't have a budget? If you're not going to stick to the plan, why have one. The interesting thing is that you support a plan that has as part of it, spending more than we bring in. That's not a budget.

I'm not saying (I didn't write) we should not have a budget. My point is very simple, budgets predict expenditures for a year, sometimes two, but those predictions are rarely correct. Adjustments need to be made for unforeseen events, like the N. Korean Kook, Harvey and Irma.

However, The Congress will make a budget, some of the items will be pork, others items will be necessary but insufficient. Let POTUS decide what to cut, and in his message to The Congress ask them to use the money cut to take care of urgent needs. Then the two chambers can work it out and send the revised budget back to the White House.

I've been doing budgets for many years. They have been correct every time. Those adjustments can be built in. If predictions are made based on the past, they can be very accurate.

Any item spent for which the Constitution doesn't give authority to spend is pork. Let the Constitution, not a bunch of politicians wanting to get reelected decide.

 

[hazlnut]

All income should be taxed at the same rate regardless how it was earned.

Investment is a risk, because you can also lose. But i believe Investment is encouraged by giving a tax break.
When people invest it also creates capital for building, which creates jobs. It's also a free country and anyone who works for a living can participate in this thing called "investing" and they can also benefit from those tax breaks.

Most people who work for a living don't make enough to invest in a way that matters.

The economists Thomas Piketty and Emmanuel Saez wrote that decreased progressiveness in US tax policy in the post World War II era has increased income inequality by enabling the wealthy greater access to capital.

According to economist Robert H. Frank, tax cuts for the wealthy are largely spent on positional goods such as larger houses and more expensive cars. Frank argues that these funds could instead pay for things like improving public education and conducting medical research, and suggests progressive taxation as an instrument for attacking positional externalities.

What I never understand is why people who are no where near high income care so much about wealthy people. The conservatives harken back for good ol' days of the prosperous 1950s, tremendous growth with the top tax rates at…. 87%…!!!! (no that's not what you'd pay. that's people who win the lottery or CEOs or trust fund kids….)

 

[Conservative65]

Let’s say you and I are neighbors. You’re an emergency room doctor, and I don’t work, thanks to a pile of money my grandparents left me.

You spend your days and nights stitching up gunshot wounds and helping children survive asthma attacks. I’ve gotten really good at World of Warcraft, winning Ebay auctions, and frying shishito peppers to just the right crispiness.

Let’s also say we both report $300,000 in income to the Internal Revenue Service this year. Who pays more in taxes?

You do, by a lot. You owe the IRS about $38,500 more, assuming each of us pays the maximum with no special deductions. I also have more flexibility to lower my burden with tax planning strategies and other tricks, and I get to skip about $24,000 in payroll taxes that you and your employer must fork over each year.

Why American Workers Pay Twice as Much in Taxes as Wealthy Investors

Great thread!

Outstanding!!

But many of the folks here at USMB are pretty brainwashed to believe that taxes are just too high and taxing the rich is Marxist redistribution of wealth, blah, blah, blah, noise...

I've tried to explain how the system was rigged starting back in the 80's so that wealth accumulated at the top level over time. They don't want to know.

Now there are trillions of dollars hiding offshore, individual and corporate -- money that was made in American markets off the American consumer driven economy. And those trillions are out of reach unless the U.S. is prepared to enact retroactive clawback laws… Keeping in mind the hell storm of lobbyists for the rich that would shut any attempt down…

But keep up the good work. Maybe we can save one or two of these people, wake them up with a red pill of truth…

When half the country pays nothing in income taxes, they are too high on those of us that pay them. If the system is rigged, it's rigged in favor of those that don't contribute to society and punishes those that do by forcing them to pay more to offset the freeloaders.

 

[Conservative65]

All income should be taxed at the same rate regardless how it was earned.

Investment is a risk, because you can also lose. But i believe Investment is encouraged by giving a tax break.
When people invest it also creates capital for building, which creates jobs. It's also a free country and anyone who works for a living can participate in this thing called "investing" and they can also benefit from those tax breaks.

Most people who work for a living don't make enough to invest in a way that matters.

The economists Thomas Piketty and Emmanuel Saez wrote that decreased progressiveness in US tax policy in the post World War II era has increased income inequality by enabling the wealthy greater access to capital.

According to economist Robert H. Frank, tax cuts for the wealthy are largely spent on positional goods such as larger houses and more expensive cars. Frank argues that these funds could instead pay for things like improving public education and conducting medical research, and suggests progressive taxation as an instrument for attacking positional externalities.

What I never understand is why people who are no where near high income care so much about wealthy people. The conservatives harken back for good ol' days of the prosperous 1950s, tremendous growth with the top tax rates at…. 87%…!!!! (no that's not what you'd pay. that's people who win the lottery or CEOs or trust fund kids….)

It's not about a concern for wealthy people. It's expecting those of you that constantly argue for equality to stop promoting such an unequal system of taxation.

Why shouldn't people not considered wealthy pay for things like improving education and conducting medical research. Aren't they using education and benefiting from medical research the same as everyone else?

 

[hazlnut]

When half the country pays nothing in income taxes, they are too high on those of us that pay them. If the system is rigged, it's rigged in favor of those that don't contribute to society and punishes those that do by forcing them to pay more to offset the freeloaders.

Everybody who gets a paycheck pays taxes.

Some people who earn so little with dependents/deductions do not owe a tax liability on April 15. They still paid taxes. Sales tax. Gas tax. Utilities tax. and so on…


That 49% "don't pay taxes" was a Fox News/RW radio talking point that was debunked and explained years ago.

They all pay taxes.

Trust me, you have no idea of the offsets and deductions available to investors with a million or more… They get rich off the American Markets because corps pay high dividends to drive up stock prices… instead of fair wages.

 

[Brain357]

Let’s say you and I are neighbors. You’re an emergency room doctor, and I don’t work, thanks to a pile of money my grandparents left me.

You spend your days and nights stitching up gunshot wounds and helping children survive asthma attacks. I’ve gotten really good at World of Warcraft, winning Ebay auctions, and frying shishito peppers to just the right crispiness.

Let’s also say we both report $300,000 in income to the Internal Revenue Service this year. Who pays more in taxes?

You do, by a lot. You owe the IRS about $38,500 more, assuming each of us pays the maximum with no special deductions. I also have more flexibility to lower my burden with tax planning strategies and other tricks, and I get to skip about $24,000 in payroll taxes that you and your employer must fork over each year.

Why American Workers Pay Twice as Much in Taxes as Wealthy Investors

Great thread!

Outstanding!!

But many of the folks here at USMB are pretty brainwashed to believe that taxes are just too high and taxing the rich is Marxist redistribution of wealth, blah, blah, blah, noise...

I've tried to explain how the system was rigged starting back in the 80's so that wealth accumulated at the top level over time. They don't want to know.

Now there are trillions of dollars hiding offshore, individual and corporate -- money that was made in American markets off the American consumer driven economy. And those trillions are out of reach unless the U.S. is prepared to enact retroactive clawback laws… Keeping in mind the hell storm of lobbyists for the rich that would shut any attempt down…

But keep up the good work. Maybe we can save one or two of these people, wake them up with a red pill of truth…

When half the country pays nothing in income taxes, they are too high on those of us that pay them. If the system is rigged, it's rigged in favor of those that don't contribute to society and punishes those that do by forcing them to pay more to offset the freeloaders.

We would sure be better off with more, better paying jobs. Then more would pay taxes. Where should we get those?

 

[Brain357]

All income should be taxed at the same rate regardless how it was earned.

Investment is a risk, because you can also lose. But i believe Investment is encouraged by giving a tax break.
When people invest it also creates capital for building, which creates jobs. It's also a free country and anyone who works for a living can participate in this thing called "investing" and they can also benefit from those tax breaks.

Most people who work for a living don't make enough to invest in a way that matters.

The economists Thomas Piketty and Emmanuel Saez wrote that decreased progressiveness in US tax policy in the post World War II era has increased income inequality by enabling the wealthy greater access to capital.

According to economist Robert H. Frank, tax cuts for the wealthy are largely spent on positional goods such as larger houses and more expensive cars. Frank argues that these funds could instead pay for things like improving public education and conducting medical research, and suggests progressive taxation as an instrument for attacking positional externalities.

What I never understand is why people who are no where near high income care so much about wealthy people. The conservatives harken back for good ol' days of the prosperous 1950s, tremendous growth with the top tax rates at…. 87%…!!!! (no that's not what you'd pay. that's people who win the lottery or CEOs or trust fund kids….)

It's not about a concern for wealthy people. It's expecting those of you that constantly argue for equality to stop promoting such an unequal system of taxation.

Why shouldn't people not considered wealthy pay for things like improving education and conducting medical research. Aren't they using education and benefiting from medical research the same as everyone else?

The wealthy seem to do fine with our tax system.

 

[jc456]

'Why American Workers Pay Twice As Much In Taxes As Wealthy Investors'

FLASHBACK:
Obama 'stole' hard-working American tax dollars to ensure his big donors who had invested in Solyndra and 12 other bankrupt 'Green Energy' companies did not lose a dime of their investment money. The tax payers did not invest in those companies, still lost money when they went bankrupt, and no one ever paid them back....

Obama-backed green energy failures leave taxpayers with $2.2 billion tab, audit finds

It is amazing corporate welfare is still going strong and supported by many "conservatives".

here's this guy going

 

[jc456]

All income should be taxed at the same rate regardless how it was earned.

Investment is a risk, because you can also lose. But i believe Investment is encouraged by giving a tax break.
When people invest it also creates capital for building, which creates jobs. It's also a free country and anyone who works for a living can participate in this thing called "investing" and they can also benefit from those tax breaks.

Most people who work for a living don't make enough to invest in a way that matters.

The economists Thomas Piketty and Emmanuel Saez wrote that decreased progressiveness in US tax policy in the post World War II era has increased income inequality by enabling the wealthy greater access to capital.

According to economist Robert H. Frank, tax cuts for the wealthy are largely spent on positional goods such as larger houses and more expensive cars. Frank argues that these funds could instead pay for things like improving public education and conducting medical research, and suggests progressive taxation as an instrument for attacking positional externalities.

What I never understand is why people who are no where near high income care so much about wealthy people. The conservatives harken back for good ol' days of the prosperous 1950s, tremendous growth with the top tax rates at…. 87%…!!!! (no that's not what you'd pay. that's people who win the lottery or CEOs or trust fund kids….)

It's not about a concern for wealthy people. It's expecting those of you that constantly argue for equality to stop promoting such an unequal system of taxation.

Why shouldn't people not considered wealthy pay for things like improving education and conducting medical research. Aren't they using education and benefiting from medical research the same as everyone else?

The wealthy seem to do fine with our tax system.

don't see them complaining. it's all of those paying nothing bitching the 1%'s not paying their fair share. yet fair share can't be explained.

 

[hazlnut]

It's not about a concern for wealthy people. It's expecting those of you that constantly argue for equality to stop promoting such an unequal system of taxation.

Why shouldn't people not considered wealthy pay for things like improving education and conducting medical research. Aren't they using education and benefiting from medical research the same as everyone else?

They we're agreed -- less taxation for lower and middle classes… while raising high income tax rates back to Clinton/Reagan era levels AND eliminating any special tax avoidance that is only available to the rich.

No Tax Havens.

No Buying and Selling through shell companies.

Equity swaps taxed at full rate.

Eliminate ways to avoid Capital Gains tax by borrowing with shares as collateral.

No exceptions to death tax. No GRAT- grantor retained annuity trusts.

No shell trust funds.

…there are many more…

 

[jc456]

It's not about a concern for wealthy people. It's expecting those of you that constantly argue for equality to stop promoting such an unequal system of taxation.

Why shouldn't people not considered wealthy pay for things like improving education and conducting medical research. Aren't they using education and benefiting from medical research the same as everyone else?

They we're agreed -- less taxation for lower and middle classes… while raising high income tax rates back to Clinton/Reagan era levels AND eliminating any special tax avoidance that is only available to the rich.

No Tax Havens.

No Buying and Selling through shell companies.

Equity swaps taxed at full rate.

Eliminate ways to avoid Capital Gains tax by borrowing with shares as collateral.

No exceptions to death tax. No GRAT- grantor retained annuity trusts.

No shell trust funds.

…there are many more…

why do we need capital gains tax exactly?

 

[jc456]

When half the country pays nothing in income taxes, they are too high on those of us that pay them. If the system is rigged, it's rigged in favor of those that don't contribute to society and punishes those that do by forcing them to pay more to offset the freeloaders.

Everybody who gets a paycheck pays taxes.

Some people who earn so little with dependents/deductions do not owe a tax liability on April 15. They still paid taxes. Sales tax. Gas tax. Utilities tax. and so on…


That 49% "don't pay taxes" was a Fox News/RW radio talking point that was debunked and explained years ago.

They all pay taxes.

Trust me, you have no idea of the offsets and deductions available to investors with a million or more… They get rich off the American Markets because corps pay high dividends to drive up stock prices… instead of fair wages.

no they don't that is pure fiction. every paycheck has money taken out for taxes but on april 15 those making 48k get that all back and some. so that is a fallacy.

 

[Brain357]

It's not about a concern for wealthy people. It's expecting those of you that constantly argue for equality to stop promoting such an unequal system of taxation.

Why shouldn't people not considered wealthy pay for things like improving education and conducting medical research. Aren't they using education and benefiting from medical research the same as everyone else?

They we're agreed -- less taxation for lower and middle classes… while raising high income tax rates back to Clinton/Reagan era levels AND eliminating any special tax avoidance that is only available to the rich.

No Tax Havens.

No Buying and Selling through shell companies.

Equity swaps taxed at full rate.

Eliminate ways to avoid Capital Gains tax by borrowing with shares as collateral.

No exceptions to death tax. No GRAT- grantor retained annuity trusts.

No shell trust funds.

…there are many more…

why do we need capital gains tax exactly?

We are deeply in debt?

 

[jc456]

Let’s say you and I are neighbors. You’re an emergency room doctor, and I don’t work, thanks to a pile of money my grandparents left me.

You spend your days and nights stitching up gunshot wounds and helping children survive asthma attacks. I’ve gotten really good at World of Warcraft, winning Ebay auctions, and frying shishito peppers to just the right crispiness.

Let’s also say we both report $300,000 in income to the Internal Revenue Service this year. Who pays more in taxes?

You do, by a lot. You owe the IRS about $38,500 more, assuming each of us pays the maximum with no special deductions. I also have more flexibility to lower my burden with tax planning strategies and other tricks, and I get to skip about $24,000 in payroll taxes that you and your employer must fork over each year.

Why American Workers Pay Twice as Much in Taxes as Wealthy Investors

Great thread!

Outstanding!!

But many of the folks here at USMB are pretty brainwashed to believe that taxes are just too high and taxing the rich is Marxist redistribution of wealth, blah, blah, blah, noise...

I've tried to explain how the system was rigged starting back in the 80's so that wealth accumulated at the top level over time. They don't want to know.

Now there are trillions of dollars hiding offshore, individual and corporate -- money that was made in American markets off the American consumer driven economy. And those trillions are out of reach unless the U.S. is prepared to enact retroactive clawback laws… Keeping in mind the hell storm of lobbyists for the rich that would shut any attempt down…

But keep up the good work. Maybe we can save one or two of these people, wake them up with a red pill of truth…

When half the country pays nothing in income taxes, they are too high on those of us that pay them. If the system is rigged, it's rigged in favor of those that don't contribute to society and punishes those that do by forcing them to pay more to offset the freeloaders.

We would sure be better off with more, better paying jobs. Then more would pay taxes. Where should we get those?

By dropping regulations, which is being done, and we see the increase in better jobs already. The obummer regulations removed jobs and put people on welfare. Trump is correcting that. GDP for August was 3.0% ouch, obummer never got better than 1.8%

 

[jc456]

It's not about a concern for wealthy people. It's expecting those of you that constantly argue for equality to stop promoting such an unequal system of taxation.

Why shouldn't people not considered wealthy pay for things like improving education and conducting medical research. Aren't they using education and benefiting from medical research the same as everyone else?

They we're agreed -- less taxation for lower and middle classes… while raising high income tax rates back to Clinton/Reagan era levels AND eliminating any special tax avoidance that is only available to the rich.

No Tax Havens.

No Buying and Selling through shell companies.

Equity swaps taxed at full rate.

Eliminate ways to avoid Capital Gains tax by borrowing with shares as collateral.

No exceptions to death tax. No GRAT- grantor retained annuity trusts.

No shell trust funds.

…there are many more…

why do we need capital gains tax exactly?

We are deeply in debt?

so why not stop spending? why do you want to spend more if you ain't got it?

 

[Brain357]

Let’s say you and I are neighbors. You’re an emergency room doctor, and I don’t work, thanks to a pile of money my grandparents left me.

You spend your days and nights stitching up gunshot wounds and helping children survive asthma attacks. I’ve gotten really good at World of Warcraft, winning Ebay auctions, and frying shishito peppers to just the right crispiness.

Let’s also say we both report $300,000 in income to the Internal Revenue Service this year. Who pays more in taxes?

You do, by a lot. You owe the IRS about $38,500 more, assuming each of us pays the maximum with no special deductions. I also have more flexibility to lower my burden with tax planning strategies and other tricks, and I get to skip about $24,000 in payroll taxes that you and your employer must fork over each year.

Why American Workers Pay Twice as Much in Taxes as Wealthy Investors

Great thread!

Outstanding!!

But many of the folks here at USMB are pretty brainwashed to believe that taxes are just too high and taxing the rich is Marxist redistribution of wealth, blah, blah, blah, noise...

I've tried to explain how the system was rigged starting back in the 80's so that wealth accumulated at the top level over time. They don't want to know.

Now there are trillions of dollars hiding offshore, individual and corporate -- money that was made in American markets off the American consumer driven economy. And those trillions are out of reach unless the U.S. is prepared to enact retroactive clawback laws… Keeping in mind the hell storm of lobbyists for the rich that would shut any attempt down…

But keep up the good work. Maybe we can save one or two of these people, wake them up with a red pill of truth…

When half the country pays nothing in income taxes, they are too high on those of us that pay them. If the system is rigged, it's rigged in favor of those that don't contribute to society and punishes those that do by forcing them to pay more to offset the freeloaders.

We would sure be better off with more, better paying jobs. Then more would pay taxes. Where should we get those?

By dropping regulations, which is being done, and we see the increase in better jobs already. The obummer regulations removed jobs and put people on welfare. Trump is correcting that. GDP for August was 3.0% ouch, obummer never got better than 1.8%

Which regulations specifically?