Expand the welfare state, pay down debt the Republicans jacked up, invest in infrastructure and infrastructure repairs
Tax The Rich
- Thread starter fatpiggy
- Start date
A fate worse than death I'm sure
The country is $39 trillion in debt and we're adding $2 trillion per year. You would use an extra $25 billion in tax revenues to expand the welfare state?
Yeah university admin make way too much money, but comparing someone making $300k to an actual billionaire is definitionally ridiculous.
he lives wherever it's most convenient for the argument he's trying to make at that time
Ah, a win the internet type of troll. I'm guessing he doesn't get any Ws though, but the effort is probably there.
It was a joke cmon.
But it’s true too
I feel far from rich. Gas prices are killing me.
You get what you voted forIt was a joke cmon.
But it’s true too
I feel far from rich. Gas prices are killing me.
Don’t you own teslas?It was a joke cmon.
But it’s true too
I feel far from rich. Gas prices are killing me.
2 teslas and a Tahoe.
$5 a gallon on the Tahoe is no joke.
Teslas still paying equivalent of about $1.30 per gallon
so out of curiosity, how do you determine what someone can afford....your point about taking more from someone who can afford it.
Now if you're talking about billionaires, where do they have their money and how much do they really earn? While the actual numbers change by year, there may be 4 or 5 people who earn $1billion/year. So when we talk about taxing billionaires we're not talking earnings, we're talking wealth. that's wholely different than a progressive income tax.
Next, with a wealth tax....how much money do you have sitting around earning nothing? Billionaires are no different. Their money is invested in something and in order to pay a wealth tax they will have to liquidate something.
NYC is a perfect example. Mamdani talks about progressive taxes. But he's not going after income....
Now, to be clear, I doubt many will object to taxing someone who makes more than they do. Everybody wants someone else to pay for their free things...and it's not totally clear if a wealth tax is constitutional...
ask Google the next question...how many people actually paid the top rate in the 1950S. There were many loopholes then. The effective rate for the top 1% was about 16%...
I know that's a downer for you, sorry
that may go down as one of the greatest posts in history. Tax the billionaires, I don't care what the effect.
remember, you're talking earnings, the "tax the rich" crowd is talking assets/net worth.
He was specifically asking how it would impact my insurance and whatnot. I'm in the top quartile and something like 22% or 24% tax bracket. I have a great healthcare plan through my job where I have a $0/month premium.
Ok, then lets get creative. They should have the taxes on unused second or third homes raised.
The tax rate in this country used to be way higher, lets bring that back
So why do democrats propose tax policies that affect people making close to that while talking about billionaires not paying their fair share? I agree with you that is ridiculous.
15+ years ago I asked about 20 people how much money was a lot of money. The janitor thought he'd be living large if he had $100k. A lot of people said $300k while a couple of 6 figure guys said a couple million. I concluded that "a lot of money" is more than you have.
I wonder if anybody has a $billion in cash. If so it's probably only a few. Like you said people would have to sell their assets, most likely shares of their companies. That would put pressure on stock prices (401ks, pensions) and potentially limit investment/jobs.
I support some higher taxes on the ultra wealthy but people who think we can charge 90% (+ state tax) and not impact the overall economy are nuckenfutz. One poster responded that the big companies should be nationalized and the money should be used to expand the welfare state. I'm not sure where to even go with that argument.
The 42.0 percent tax rate on the top 1 percent takes into account all taxes levied by federal, state, and local governments, including: income, payroll, corporate, excise, property, and estate taxes. When we look at income taxes specifically, the top 1 percent of taxpayers paid an average effective rate of only 16.9 percent in income taxes during the 1950s.
Raising income taxes on people making $400K+ (supported by Biden and then Harris during her presidential run).
Raising the SS income tax cap, which is currently set at ~$185K.
A recent proposal adding a surcharge on income above $1M, and increasing in several increments.
Sure you feel the same about this genre of people too right?
I'm ok with that. Let's use the revenue to reduce the deficit
Dude looks like a total scumbag. I'm agnostic if that means anything.
It's so weird to see people simp for billionaires.
Just as it is to see people hate on them. They never did anything to hurt you. In fact, it's quite the opposite.
You hate Billionaires just because of a label. You (collective you) have no idea what they have done for society, what problems they have solved, how much more comfortable they have made your life. The fact is, they bust their *** to make things happen.
The exception would be people who inherit money, and I agree with taxing them heavily.
The exception would be people who inherit money, and I agree with taxing them heavily.
Of course they did things to hurt us. Guys like Bezos became a billionaire by paying his staff poverty wages and the rest of us are forced to supplement their income with thru govt services. 25% of Walmart employees are on food stamps for fuqs sake.
They get to be billionaires by squeezing every single drop of cash out of us.