Ocasio Cortez proposes 70% tax on ich to save the planet

[in2deep]

I like it :tu

https://twitter.com/cnn/status/1081253971669516288?s=21

[FrostKing]

Taxing the wealthy...... I'm listening

To pay for climate change..... where's my yellow vest

[spurraider21]

it's not unprecedented. the top tax rate exceeded 70% in the 50's, 60's, 70's

at least she understands the concept of marginal rates. you'd be surprised how many people dont

[Slob]

Not all Democrats want this. K.

[Spurtacular]

it's not unprecedented. the top tax rate exceeded 70% in the 50's, 60's, 70's

at least she understands the concept of marginal rates. you'd be surprised how many people dont

Well, that's a feather in her cap. Good thing you point that out.

:lmao Chump Lite

[spurraider21]

Well, that's a feather in her cap. Good thing you point that out.

:lmao Chump Lite
wasn't meant as a compliment... nothing is a given with her.

[Spurtacular]

wasn't meant as a compliment... nothing is a given with her.

Sperm shielding at the end of the day, lite.

[Will Hunting]

It should go back to the top marginal rate being north of 90% like it was in the 50s (the time period most conservatives refer to as the good times), but for whatever reason no one remembered that taxing the rich heavily played a huge role in creating a strong middle class.

[Spurminator]

There was a time when the rich were more patriotic and more willing to improve their surrounding communities through large endowments and tax-deductable community development efforts. And that was before they had robotrading and other stock market manipulation options to ensure that they made a lot of money by simply having money.

These are different times though. And anyway, 70% is too big a jump right now. Baby steps.

[DarrinS]

What is the definition of "rich" that will pay this 70%?

[Spurminator]

4th paragraph of the article.


"Once you get to the tippie-tops, on your $10 millionth dollar, sometimes you see tax rates as high as 60% or 70%. That doesn't mean all $10 million dollars are taxed at an extremely high rate. But it means that as you climb up this ladder, you should be contributing more," Ocasio-Cortez said.

[Pavlov]

What is the definition of "rich" that will pay this 70%?Let's just say it's you, moneybags.

[spurraider21]

inb4 "10 million isn't a lot of money"

[DarrinS]

3rd paragraph of the article.


"Once you get to the tippie-tops, on your $10 millionth dollar, sometimes you see tax rates as high as 60% or 70%. That doesn't mean all $10 million dollars are taxed at an extremely high rate. But it means that as you climb up this ladder, you should be contributing more," Ocasio-Cortez said.

So, Anderson Cooper would just take home 3.6M of his 12M salary? I don't think so. He'd probably renegotiate his salary to 9.9M and get some other kind of financial incentive.

People still have this fantasy that the rich actually paid 90% in the 1950's, as if there weren't ways to dramatically reduce their tax exposure.

[spurraider21]

Let's just say it's you, moneybags.
have you seen his 401k?

[spurraider21]

So, Anderson Cooper would just take home 3.6M of his 12M salary? I don't think so. He'd probably renegotiate his salary to 9.9M and get some other kind of financial incentive.

People still have this fantasy that the rich actually paid 90% in the 1950's, as if there weren't ways to dramatically reduce their tax exposure. Spurtacular (https://www.spurstalk.com/forums/member.php?u=49615) this is what i was saying about people not understanding marginal tax rates

also darrin, did you not read that ENTIRE 2 sentence quote spurminator provided for you?

[Spurminator]

Oh my fucking god. :lol

[spurraider21]

Oh my fucking god. :lol
on the bright side, he's so exorbitantly wealthy that he doesn't even realize how much he's being taxed

[Pavlov]

:lmao

[spurraider21]

this is darrin's best take since he disproved climate change by walking into two different buildings with a thermometer

[Spurminator]

on the bright side, he's so exorbitantly wealthy that he doesn't even realize how much he's being taxed

I want to be that guy's accountant...

[spurraider21]

I want to be that guy's accountant...
are we sure darrin shouldn't be suing charles banks?

[FrostKing]

There was a time when the rich were more patriotic and more willing to improve their surrounding communities through large endowments and tax-deductable community development efforts. And that was before they had robotrading and other stock market manipulation options to ensure that they made a lot of money by simply having money.

These are different times though. And anyway, 70% is too big a jump right now. Baby steps.
That time was when America was prwdominately White. If Poland was flooded by ethnics I would close myself off to a neighborhood mindset too

The new America is at best different and for most - increasingly undesirable. Why fund it?

[DarrinS]

on the bright side, he's so exorbitantly wealthy that he doesn't even realize how much he's being taxed

For last year

tax paid: 132,490
39.6% tax bracket
27.29% effective tax rate

I'm painfully aware how much I'm being taxed. :lol

[Winehole23]

are we sure darrin shouldn't be suing charles banks?This Charles Banks?

https://www.winespectator.com/webfeature/show/id/Charles-Banks-Sentenced-to-Four-Years

[DarrinS]

My point remains that super wealthy people know how to lower their tax burden.

[Spurminator]

My point remains that super wealthy people know how to lower their tax burden.

And, like I said, in the past they often did that through philanthropy.

The problem with this kind of hike is that when you enforce an income swing this extreme on people who can afford to move, many of them probably will. If 60%-70% is the right number, you still have to get there gradually.

[CosmicCowboy]

it's not unprecedented. the top tax rate exceeded 70% in the 50's, 60's, 70's

at least she understands the concept of marginal rates. you'd be surprised how many people dont

Not the real rate. There were huge deductions and tax shelters. Average taxpayers could deduct all interest...not just house...car, credit card, etc.

[Winehole23]

And, like I said, in the past they often did that through philanthropy.

The problem with this kind of hike is that when you enforce an income swing this extreme on people who can afford to move, many of them probably will. If 60%-70% is the right number, you still have to get there gradually.70% sounds like it was picked to please the left wing of the Democrats. The most efficient rate is probably significantly lower, but there's little doubt we've got headroom.

[spurraider21]

Not the real rate. There were huge deductions and tax shelters. Average taxpayers could deduct all interest...not just house...car, credit card, etc.
i just said it's not unprecedented. i didnt say 70% is necessarily the way to go

its also easy to work around if you just adjust where the brackets lie. make it for earners of 20 mil instead of 10 mil, etc.

[spurraider21]

For last year

tax paid: 132,490
39.6% tax bracket
27.29% effective tax rate

I'm painfully aware how much I'm being taxed. :lol
explain why you thought anderson cooper would save money by reducing his income to 9.9 million

[pgardn]

For last year

tax paid: 132,490
39.6% tax bracket
27.29% effective tax rate

I'm painfully aware how much I'm being taxed. :lol

So you must withdraw around $1 million a year from inherited IRA’s ?

I got a friend like you.

[DarrinS]

explain why you thought anderson cooper would save money by reducing his income to 9.9 million

Yeah, that was about as well thought out as her proposed tax policy. :lol

[Will Hunting]

What is the definition of "rich" that will pay this 70%?
It should be into the millions before people are paying that much, my opinion at least.

[Chris]

Socialism is cool. Ocasio Cortez is hot.

[DarrinS]

It should be into the millions before people are paying that much, my opinion at least.

Like Patty Mills rich? :lol

[Will Hunting]

Like Patty Mills rich? :lol
Idk how much he makes but every time Ive gone to check how much some random role player makes in the last 2 year I’ve been in disbelief.

Keep in mind, if we were merely going by my opinion, I’d also do away with the payroll tax (for both employee and employer) and i wouldn’t have sales taxes. Both of those are death to the economy imo.

[Spurtacular]

Spurtacular (https://www.spurstalk.com/forums/member.php?u=49615) this is what i was saying about people not understanding marginal tax rates

also darrin, did you not read that ENTIRE 2 sentence quote spurminator provided for you?

I know what marginal taxes are (despite your dumb claim). Don't sperm shield for OC, bruh, if you don't want to be called out.

[spurraider21]

I know what marginal taxes are (despite your dumb claim). Don't sperm shield for OC, bruh, if you don't want to be called out.
i never accused you of it.

darrin showed off his ignorance in that post. glad he apparently read up on it since.

[Spurtacular]

i never accused you of it.

darrin showed off his ignorance in that post. glad he apparently read up on it since.

Your sperm shielding started before DarrinS posted. Nor did he say anything erroneous on a quick check.

[Spurtacular]

explain why you thought anderson cooper would save money by reducing his income to 9.9 million

It's obvious he was implying a new bracket would start at 10 million.

[spurraider21]

Your sperm shielding started before DarrinS posted. Nor did he say anything erroneous on a quick check.
this is incredibly erroneous

So, Anderson Cooper would just take home 3.6M of his 12M salary? I don't think so. He'd probably renegotiate his salary to 9.9M and get some other kind of financial incentive.

People still have this fantasy that the rich actually paid 90% in the 1950's, as if there weren't ways to dramatically reduce their tax exposure.

[spurraider21]

It's obvious he was implying a new bracket would start at 10 million.
if it's so obvious, how would he come to the conclusion that anderson cooper would take home 3.6M of his 12M salary? its funny, because that only works if his entire 12M salary was taxed at exactly 70%.

it also makes no sense because darrin thought he would take home more money if he made 9.9M than 12M

So, Anderson Cooper would just take home 3.6M of his 12M salary? I don't think so. He'd probably renegotiate his salary to 9.9M and get some other kind of financial incentive.

People still have this fantasy that the rich actually paid 90% in the 1950's, as if there weren't ways to dramatically reduce their tax exposure.

[Spurtacular]

this is incredibly erroneous

How so? Cos you didn't understand the implication that the highest bracket would start at 10 million in that scenario? DarrinS may not have spelled it out for you; but it's obvious that he was speaking intelligibly on the matter.

[Spurtacular]

if it's so obvious, how would he come to the conclusion that anderson cooper would take home 3.6M of his 12M salary? its funny, because that only works if his entire 12M salary was taxed at exactly 70%.

it also makes no sense because darrin thought he would take home more money if he made 9.9M than 12M

Good gawd you want to be spoonfed today. 3.6 M is 30 percent of 12 M. Going down a bracket and finding other options like stock options or other "payments" or something of the sort would allow him to then keep more money on whatever figure it all adds up to be.

[Spurtacular]

It should be into the millions before people are paying that much, my opinion at least.

How would that help wages on anyone that is not in government?

[DarrinS]

Yeah, I fvcked up something simple and spurraider is just having fun dragging me over it. Whatevs

[Chris]

https://twitter.com/RyanAFournier/status/1081345045977096192

[Will Hunting]

How would that help wages on anyone that is not in government?
It’s more money into the economy, plus it reduces the deficit.

[spurraider21]

Good gawd you want to be spoonfed today. 3.6 M is 30 percent of 12 M. Going down a bracket and finding other options like stock options or other "payments" or something of the sort would allow him to then keep more money on whatever figure it all adds up to be.
that's exactly my point. so you dont know what marginal tax rates are either.

good to know. how does it feel then AOC knows more about tax policy than you do?

:lol
DarrinS (https://www.spurstalk.com/forums/member.php?u=2042) maybe you can help him out tbh

[Spurtacular]

It’s more money into the economy, plus it reduces the deficit.

It'd just be cheap money even if that were true after inflation; and production would likely go down unless you somehow think that high-ass taxes would increase entrepreneurship.

[Spurtacular]

that's exactly my point. so you dont know what marginal tax rates are either.

good to know. how does it feel then AOC knows more about tax policy than you do?

:lol
DarrinS (https://www.spurstalk.com/forums/member.php?u=2042) maybe you can help him out tbh

WTF are you talking about. It's not a hard concept, whatsoever. Good gawd you need a win worse than chump. You're just making shit up in your mind at this point.

[Chris]

It'd just be cheap money even if that were true after inflation; and production would likely go down unless you somehow think that high-ass taxes would increase entrepreneurship.

Truth. Hyperinflation will do us in unless we eliminate the Fed.

[spurraider21]

WTF are you talking about. It's not a hard concept, whatsoever. Good gawd you need a win worse than chump. You're just making shit up in your mind at this point.
:lol you have no idea how tax brackets work. that's adorable.

let me spoonfeed you, bruh.

lets assume these are the only tax brackets

$0 through $9,999,999 - 20%
$10 mil plus - 50%

if somebody earned a total of 20 million, they would NOT pay 50% tax on their entire salary. their take-home would NOT be 10 mil.

instead, all of their income from 0 through 9,999,999 will be taxed at the lower 20% rate (2 mil in taxes on those earnings). all income EXCEEDING the 10 mil point will be taxed at the full 50% mark (5 mil in taxes on those earnings). so somebody earning 20 mil given the brackets above would pay 7 mil in taxes for an effective tax rate of 35%

you're welcome for the lesson, bruh. i'm glad AOC got you to learn something new today.

[DarrinS]

that's exactly my point. so you dont know what marginal tax rates are either.

good to know. how does it feel then AOC knows more about tax policy than you do?

:lol
DarrinS (https://www.spurstalk.com/forums/member.php?u=2042) maybe you can help him out tbh


If there was some 70% tax bracket the "effective tax rate" would actually be lower, say 60%, which is still way too damn much, tbh.

[spurraider21]

If there was some 70% tax bracket the "effective tax rate" would actually be lower, say 60%, which is still way too damn much, tbh.
that depends what proportion of your income was above the 10M mark. in anderson cooper's case, by the figures you have, that means he'd pay 1.4 mil in taxes on his income above 10 mil (70% of 2 mil). all other brackets kept equal, he'd pay roughly 3.66 mil in federal income taxes on everything else below 10M. so you're looking at just over 5 mil in taxes on a 12 mil salary which is about 41.6%

still, its clear derp is making the mistake you originally made, but unlike you, isn't acknowledging his mistake.

[FrostKing]

Why only 70%?

[Spurtacular]

:lol you have no idea how tax brackets work. that's adorable.

let me spoonfeed you, bruh.

lets assume these are the only tax brackets

$0 through $9,999,999 - 20%
$10 mil plus - 50%

if somebody earned a total of 20 million, they would NOT pay 50% tax on their entire salary. their take-home would NOT be 10 mil.

instead, all of their income from 0 through 9,999,999 will be taxed at the lower 20% rate (2 mil in taxes on those earnings). all income EXCEEDING the 10 mil point will be taxed at the full 50% mark (5 mil in taxes on those earnings). so somebody earning 20 mil given the brackets above would pay 7 mil in taxes for an effective tax rate of 35%

you're welcome for the lesson, bruh. i'm glad AOC got you to learn something new today.

Hence why DarrinS was arguing for AC to take his income down below 10M and for me explaining exactly the same damn thing. You need to stop pretending people are making incorrect arguments; that or work on your comprehension. You just come off as desperate for a W, bruh.

:lol A lesson that I already gave to you, bruh.

[spurraider21]

Hence why DarrinS was arguing for AC to take his income down below 10M and for me explaining exactly the same damn thing. You need to stop pretending people are making incorrect arguments; that or work on your comprehension. You just come off as desperate for a W, bruh.

:lol A lesson that I already gave to you.
you make no sense. darrin calculated it as though Cooper would pay the full 70% rate on his entire 12 million salary. hence his claim that cooper would only be able to take home 3.6 million out of 12.

that is objectively incorrect.

[DarrinS]

that depends what proportion of your income was above the 10M mark. in anderson cooper's case, by the figures you have, that means he'd pay 1.4 mil in taxes on his income above 10 mil (70% of 2 mil). all other brackets kept equal, he'd pay roughly 3.66 mil in federal income taxes on everything else below 10M. so you're looking at just over 5 mil in taxes on a 12 mil salary which is about 41.6%

still, its clear derp is making the mistake you originally made, but unlike you, isn't acknowledging his mistake.



Well, yeah, the actual effective rate would depend on how much over that bracketed amount you make. I haven't seen any insane brackets starting at 10M.

Tippy top brackets. :lol

[ElNono]

Why only 70%?

You gotta leave something to pay State tax, tbh

[DarrinS]

You gotta leave something to pay State tax, tbh

Not in Texas, beotch!

:lol


We have property tax tho. Mine is 10k. Sucks

[spurraider21]

Well, yeah, the actual effective rate would depend on how much over that bracketed amount you make. I haven't seen any insane brackets starting at 10M.

Tippy top brackets. :lol
can you please explain to derpy that your 3.6 mil calculation was an error. he seems to think you were totes accurate.

[Spurtacular]

you make no sense. darrin calculated it as though Cooper would pay the full 70% rate on his entire 12 million salary. hence his claim that cooper would only be able to take home 3.6 million out of 12.

that is objectively incorrect.

3.6 M is 30 percent of 12 M. It's exactly what the take home would be on a person taxed at 70 percent.

:lmao Today's Chump Lite.

[DarrinS]

can you please explain to derpy that your 3.6 mil calculation was an error. he seems to think you were totes accurate.

If bracket starts at x amount, you have to pay y amount plus z percentage over x amount. :lol

I WAS WRONG. SUE ME. :lol

[DarrinS]

3.6 M is 30 percent of 12 M. It's exactly what the take home would be on a person taxed at 70 percent.

:lmao Today's Chump Lite.


Dude. No. Just stop

[spurraider21]

3.6 M is 30 percent of 12 M. It's exactly what the take home would be on a person taxed at 70 percent.

:lmao Today's Chump Lite.
you're refusing to learn about marginal tax rates.

ocasio cortez never said 70% would be a flat tax rate. she said it would be for income above 10 million. if somebody earns 12 million, their "income above 10 million" would only be 2 million. so only that last 2 million would be taxed at the 70% rate. the first 10 million would all be taxed at the lower rates pursuant to those brackets.

the rule of thumb is you never take home less money for earning more money, no matter what the tax brackets are

[spurraider21]

If bracket starts at x amount, you have to pay y amount plus z percentage over x amount. :lol

I WAS WRONG. SUE ME. :lol
im sorry man :lol... you owned up to it, and i respect that.

its just funny to see derp go back to your original post and claim it's completely accurate :lol

[DarrinS]

The tax code is already progressive enough, imho.

[spurraider21]

The tax code is already progressive enough, imho.
disagree, imo. the highest bracket being at 500k+ is pretty evident of that.

[DarrinS]

disagree, imo. the highest bracket being at 500k+ is pretty evident of that.

That bracket screwed me last year, but that was a one-time event.

How many brackets should there be?

[spurraider21]

That bracket screwed me last year, but that was a one-time event.
congrats tbh always nice to see you take opportunities to discuss your wealth.

maybe splits can share his W2's again and you guys can have a chat


How many brackets should there be?
well, the more brackets there are, the more seamless the curve would be, but it would also complicate forms more. and we all know we want shit to fit on post cards.

it's not necessarily that we need x amount of brackets... its that we need enough to cover all ranges of earners. somebody earning 50 mil shouldnt be taxed at the same (roughly) effective rate as somebody earning 5 mil. but they are. whether the number is 5 mil, 15 mil, or 50 mil, there should be something to account for exorbitantly high earners.

[pgardn]

Not in Texas, beotch!

:lol


We have property tax tho. Mine is 10k. Sucks

Big inherited IRA but a modest house.
cool...

[DarrinS]

Big inherited IRA but a modest house.
cool...

You're wrong, bro. But do what you do.

[DarrinS]

congrats tbh always nice to see you take opportunities to discuss your wealth.

maybe splits can share his W2's again and you guys can have a chat


well, the more brackets there are, the more seamless the curve would be, but it would also complicate forms more. and we all know we want shit to fit on post cards.

it's not necessarily that we need x amount of brackets... its that we need enough to cover all ranges of earners. somebody earning 50 mil shouldnt be taxed at the same (roughly) effective rate as somebody earning 5 mil. but they are. whether the number is 5 mil, 15 mil, or 50 mil, there should be something to account for exorbitantly high earners.



Given your occupation, you're going to be in top tier brackets on the regular. I only had it once because of a stock option.

I predict you'll become more conservative on tax policy, when it starts affecting you.

[spurraider21]

Given your occupation, you're going to be in top tier brackets on the regular. I only had it once because of a stock option.

I predict you'll become more conservative on tax policy, when it starts affecting you.
yep. the ole "you'll get conservative and wise when you get older" shtick.

tax rates already affect me. but i'd have gladly traded paying more in taxes for having my wife' green card application processed quicker than it was. if i'm ever making enough to be hit by the highest tax bracket, i'm unlikely to give a shit about the rates.

and i appreciate the compliment, but let it be known that i fully plan to be the trophy husband when my wife finishes med school :lol

if we're earning anything near 500k, we'll be more than comfortable regardless of tax rates. and if i'm earning 10 mil, i'm not going to give a shit about a 70% marginal tax rate. we dont live big. dont care about nice cars and shiny things. tbh if we have a roof, food, and a working internet connection, we're happy.

[DarrinS]

yep. the ole "you'll get conservative and wise when you get older" shtick.

tax rates already affect me. but i'd have gladly traded paying more in taxes for having my wife' green card application processed quicker than it was. if i'm ever making enough to be hit by the highest tax bracket, i'm unlikely to give a shit about the rates.

and i appreciate the compliment, but let it be known that i fully plan to be the trophy husband when my wife finishes med school :lol

if we're earning anything near 500k, we'll be more than comfortable regardless of tax rates. and if i'm earning 10 mil, i'm not going to give a shit about a 70% marginal tax rate. we dont live big. dont care about nice cars and shiny things. tbh if we have a roof, food, and a working internet connection, we're happy.



Oh shit. I forgot your wife is going to be a doc. Y'all screwed.


Hopefully, you don't live in CA.

[ElNono]

I predict you'll become more conservative on tax policy, when it starts affecting you.

I never understood the rationale for this, and that’s not my experience. Could you elaborate?

[DarrinS]

I never understood the rationale for this, and that’s not my experience. Could you elaborate?


Back when I made very little money and actually got a refund every year, I didn't give a shit what "rich" paid. Now that I'm older and write checks to the IRS, it's more noticeable. Does that help?

[baseline bum]

I never understood the rationale for this, and that’s not my experience. Could you elaborate?

Because Baby Boomers who voted for Nixon were conservative once Reagan became president?

[ElNono]

Back when I made very little money and actually got a refund every year, I didn't give a shit what "rich" paid. Now that I'm older and write checks to the IRS, it's more noticeable. Does that help?

Well, partly. You still make more now after taxes than what you made when you made little money (that’s normally the case anyways), and I’m pretty certain you rather be in your current situation than the former.

But what you wrote implicitly states that socioeconomic factors would alter your political bias, that’s something I’ve heard often, but really can’t relate to. I think there’s possibly some amount of greed or animosity towards government in general (just an observation, no criticism), but I can’t really put my finger on it. That’s why I’m asking somebody that feels that way.

[spurraider21]

Oh shit. I forgot your wife is going to be a doc. Y'all screwed.


Hopefully, you don't live in CA.
We live in CA. May move for school. Will ultimately move back.

Well be fine regardless of tax rates

[Th'Pusher]

Not in Texas, beotch!

:lol


We have property tax tho. Mine is 10k. Sucks

You need to move out of the sticks rich man. You live in Bexar?

[rmt]

yep. the ole "you'll get conservative and wise when you get older" shtick.

tax rates already affect me. but i'd have gladly traded paying more in taxes for having my wife' green card application processed quicker than it was. if i'm ever making enough to be hit by the highest tax bracket, i'm unlikely to give a shit about the rates.

and i appreciate the compliment, but let it be known that i fully plan to be the trophy husband when my wife finishes med school :lol

if we're earning anything near 500k, we'll be more than comfortable regardless of tax rates. and if i'm earning 10 mil, i'm not going to give a shit about a 70% marginal tax rate. we dont live big. dont care about nice cars and shiny things. tbh if we have a roof, food, and a working internet connection, we're happy.

If the dream of Medicare for All comes true, prepare not to be a trophy husband since they would have to cap your wife's salary :-)

It's not necessarily the age factor (not discounting wisdom and experience) but when those precious children come along, all those things that our parents never used like strollers, safety gates, outlet protectors, car seat, baby monitor, changing table, play pen, etc suddenly seem like necessities. And when you start thinking about schools, (just like SpursforSix) you realize that maybe that local public school is not for little Johnny. And when you decide to swing for that private school, you start to wonder why am I paying outrageous property taxes and my child gets no benefit. And when little Johnny applies to college and you decide to send him to a state university (because you've spent all that money on private K-12) and he isn't a "under-represented minority" who gets a free ride to some Ivy League college, you think how unfair it is to be judged solely on the color of his skin.

And when you take risk investing what money you have in the stock market and you're taxed at some high marginal rate because you bought and sold within a year, you think what am I taking such risk with my money to give Uncle Sam such a high % of the profit. And if I didn't have to pay so much in taxes, I could give Johnny a really good start when he buys his first home or help save for grandchild's college, etc., etc. That I think is the sequence when you realize it comes down to every dollar that is given to Uncle Sam is a dollar taken from Little Johnny.

[DarrinS]

You need to move out of the sticks rich man. You live in Bexar?

Technically Bexar

[DarrinS]

We live in CA. May move for school. Will ultimately move back.

Well be fine regardless of tax rates

My sister and her husband are both docs and live in Concord. They're screwed.

[Th'Pusher]

Technically Bexar

You should move out of your starter home with that big stock option, tbh.

[DarrinS]

You should move out of your starter home with that big stock option, tbh.

4th house. Thanks for your concern.

[DarrinS]

Lol, starter house with 10k property tax.

[Th'Pusher]

Lol, starter house with 10k property tax.

I was being hyperbolic, but you’d think someone who brags about how much they pay in taxes as much as you do would live in house valued at more than $400k.

[DarrinS]

I was being hyperbolic, but you’d think someone who brags about how much they pay in taxes as much as you do would live in house valued at more than $400k.


Worth over 450k when I'm done with it.

[LkrFan]

Not all Democrats want this. K.

Damn, I never saw a skinny slob :lol

[Quadzilla99]

Socialism is cool. Ocasio Cortez is hot.


https://twitter.com/RyanAFournier/status/1081345045977096192



Chris irl

1080914957129080832

[Spurminator]

https://twitter.com/RyanAFournier/status/1081345045977096192

:lol This dumbass thinking he's ever going to make more than $10 million in a year.

[Winehole23]

...or that a 70% marginal rate means the USG gets 70% of his taxable income.

the guy's either dumb or playing his followers for dumb.

[ElNono]

From Apple’s Tim Cook letter to investors:

Tax rate of approximately 16.5 percent before discrete items

https://www.apple.com/newsroom/2019/01/letter-from-tim-cook-to-apple-investors/

I thought corporate tax rate was 21%?

[Spurminator]

...or that a 70% marginal rate means the USG gets 70% of his taxable income.

the guy's either dumb or playing his followers for dumb.

It's an effective talking point. Gets people to care about something that would never have impacted them in the first place.

[Winehole23]

It's an effective talking point. Gets people to care about something that would never have impacted them in the first place.I agree that lies are often swifter and more effective than the truth.

[boutons_deux]

From Apple’s Tim Cook letter to investors:

Tax rate of approximately 16.5 percent before discrete items

https://www.apple.com/newsroom/2019/01/letter-from-tim-cook-to-apple-investors/

I thought corporate tax rate was 21%?


American companies contribute less to the national tax contributions than companies any other industrial nation

tax avoidance through the rigged tax system, and criminal tax evasion.

AOC should also go after the corporate avoidance/evasion tax scam as well as individuals.

And tax income should include, at the same rate, earned and unearned income. not more bullshit that capital gains tax pays much lower tax rate. Labor and Capital income at the same rate, and VERY progressive rates.

[Roscoe P. Coltrane]

It's an effective talking point. Gets people to care about something that would never have impacted them in the first place.Do you really think that a 70% tax rate won't eventually affect lower income workers?

[Winehole23]

Trickle down doesn't work because the tippy top brackets save more than they spend.

Don't you think free lunch capitalists should be taxed commensurately with people who work for a living?

[Winehole23]

Tweet is tangential, but it shows the rate of corporate and capital gains taxes have been lower than income tax pretty much the whole way in the USA:

1081231423967764480

[Winehole23]

Is that fair?

Why should capital gains and employers have the sweetheart deal instead of ordinary working folks?

[Winehole23]

I mean, other than the fact that they bankroll elections and write legislation?

[Winehole23]

Top rates might be questionable for generalization, but I'm not a fuckin commie for pointing out something similar to what David Ricardo and Adam Smith pointed out
200 fuckin years ago.

[Winehole23]

The Ricardo/Malthus debate is fully contemporary, IMO

[BD24]

Lol, starter house with 10k property tax.
Yea that definitely isn’t a starter house. I imagine the home is valued around 400k+, which gets you a very sizable house in Texas

[boutons_deux]

Sweden Has a 70 Percent Tax Rate and It Is Fine

https://www.peoplespolicyproject.org/2019/01/05/sweden-has-a-70-percent-tax-rate-and-it-is-fine/

[ducks]

Taxing the wealthy...... I'm listening

To pay for climate change..... where's my yellow vest

the rich pay for the jobs and people want higher wages
the rich will not have money for that then

[ducks]

Sweden Has a 70 Percent Tax Rate and It Is Fine

https://www.peoplespolicyproject.org/2019/01/05/sweden-has-a-70-percent-tax-rate-and-it-is-fine/


then move there

[ducks]

Sweden Has a 70 Percent Tax Rate and It Is Fine

https://www.peoplespolicyproject.org/2019/01/05/sweden-has-a-70-percent-tax-rate-and-it-is-fine/



where do they get those facts?

[Aztecfan03]

It should go back to the top marginal rate being north of 90% like it was in the 50s (the time period most conservatives refer to as the good times), but for whatever reason no one remembered that taxing the rich heavily played a huge role in creating a strong middle class.

"However, despite these high marginal rates, the top 1 percent of taxpayers in the 1950s only paid about 42 percent of their income in taxes. As a result, the tax burden on high-income households today is only slightly lower than what these households faced in the 1950s."

https://taxfoundation.org/taxes-rich-1950-not-high/

[Winehole23]

the rich pay for the jobs and people want higher wages
the rich will not have money for that then
OMG THE GREEDY POORS ARE GONNA PUT THE RICH OUTNOF BUSINESS.

[Winehole23]

the rich pay for the jobs and people want higher wages
the rich will not have money for that then
OMG THE GREEDY POORS ARE GONNA PUT THE RICH OUT OF BUSINESS.

[FrostKing]

the rich pay for the jobs and people want higher wages
the rich will not have money for that then
It would take years of analysis to rule that right or wrong. German style decades of research

I think America is all about messages. Messages of Capitalism. German kids don't wake up hoping to be "whatever they want". That is American dream.

Does the dream come thru? Meanwhile German schools continue to thrive....

[Spurminator]

Do you really think that a 70% tax rate won't eventually affect lower income workers?

It's an income tax rate, not a corporate tax.

[rmt]

Would you risk your money if any profit you might get is going to be taxed at 70%? I'd be putting that in the safest possible investment. Where's the venture capital/small company startup funds gonna come from? Who's going to take that risk for so little return?

[boutons_deux]

Where's the venture capital/small company startup funds gonna come from?

Capitalists have many $100Bs to gamble with.

Vast majority of startups don't turn into unicorns, or even survive.

"According to the Small Business Association (SBA), this isn't necessarily true.

The SBA states that only 30% of new businesses fail during the first two years of being open,

50% during the first five years and

66% during the first 10."

https://www.investopedia.com/slide-show/top-6-reasons-new-businesses-fail/

[Spurminator]

Would you risk your money if any profit you might get is going to be taxed at 70%? I'd be putting that in the safest possible investment. Where's the venture capital/small company startup funds gonna come from? Who's going to take that risk for so little return?

Business expenses are tax deductible for a reason.

[Hillary Clinton]

"The rich need more help!" :lol :lol

[Will Hunting]

the rich pay for the jobs and people want higher wages
the rich will not have money for that then
You realize wages and payroll expenses are tax deductible?

The amount of cuckservatives who don’t understand that wages get paid before any income tax gets paid is stunning.

[Roscoe P. Coltrane]

It's an income tax rate, not a corporate tax.Again, do you not think that a 70% tax rate will eventually affect lower income workers?

[Will Hunting]

Again, do you not think that a 70% tax rate will eventually affect lower income workers?
When it’s only on income of $10 million or more? I don’t.

[baseline bum]

You realize wages and payroll expenses are tax deductible?

The amount of cuckservatives who don’t understand that wages get paid before any income tax gets paid is stunning.

What's stunning about it? They voted in a guy who hires illegals to keep illegals out of the country.

[SpursforSix]

Again, do you not think that a 70% tax rate will eventually affect lower income workers?

I think it could lead to a contraction in new business investment which would mean less jobs. No idea of the scope.

[Chris]

https://twitter.com/RealMattCouch/status/1081971026131668993

[Roscoe P. Coltrane]

When it’s only on income of $10 million or more? I don’t. So let's say there is a 70% tax on income and you live in a state like California. You now have an 82% tax rate. How do you think that will affect those states? Buinessses will not expand, you won't be seeing many new buissness being created, there will be even less Ma and Pa companies because they won't be able to compete with corperations, you'll see more companies move businesses to Mexico, China ect. There would be massive layoffs and the cost of higher taxes pushed on to the consumer. Do you not think that those people will find a way to recover their lost profits?

[boutons_deux]

Buinessses will not expand, speculaton

you won't be seeing many new buissness being created, speculation

there will be even less Ma and Pa companies because they won't be able to compete with corperations, they can't compete now

you'll see more companies move businesses to Mexico, China ect. speculation

There would be massive layoffs speculaiton

and the cost of higher taxes pushed on to the consumer. speculaton

when CA raised taxes on the wealthy, there was speculation/wishful thinking that CA's billionaires would move out of CA. didn't happen

And what if the highly progressive Federal taxes paid for Medicare for all, totally removing the cost of employer group plans, paid for Fed free or low-cost day care?

you assholes always assume tax money is lost, returns no benefit to the taxpayer, and that's exactly the LIE from the oligarchy.

Scandanavians see high taxes as investments in their countries, with fantastic benefits being returned to the taxpayers.

[spurraider21]

https://twitter.com/RealMattCouch/status/1081971026131668993
Another guy who doesn’t understand marginal tax rates :lol

[Hillary Clinton]

Thinking chrissyboy would get taxed that. :lol

[Spurminator]

Again, do you not think that a 70% tax rate will eventually affect lower income workers?

No. Because it's an income tax rate, not a corporate tax rate.

State your case.

[Spurminator]

So let's say there is a 70% tax on income and you live in a state like California. You now have an 82% tax rate. How do you think that will affect those states? Buinessses will not expand, you won't be seeing many new buissness being created, there will be even less Ma and Pa companies because they won't be able to compete with corperations, you'll see more companies move businesses to Mexico, China ect. There would be massive layoffs and the cost of higher taxes pushed on to the consumer. Do you not think that those people will find a way to recover their lost profits?

"Ma and Pa" businesses won't be affected by a tax rate on income over $10 million, dude LOL

[Chris]

“You cannot legislate the poor into freedom by legislating the wealthy out of freedom. What one person receives without working for, another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is about the end of any nation. You cannot multiply wealth by dividing it.”

[Roscoe P. Coltrane]

"Ma and Pa" businesses won't be affected by a tax rate on income over $10 million, dude LOL They most certainly will. I work for a company that is owned by a husband and wife and they pull in around 12 mil a year in profit. The company is based out of California so they would pay 82% in taxes. They would definitely cut my pay, eliminate mine or others positions in order to gain back profit. They also mght have to sale their home and or other assets because what they own is based on what they make currently bring in. If 82% percent of their income is gone they would no longer be able to pay for it anymore. Don't be an idiot.

[Winehole23]

apologizing for the domination of society and government by a small number of very rich people isn't freedom, it's the definition of indoctrination

[AaronY]

You realize wages and payroll expenses are tax deductible?

The amount of cuckservatives who don’t understand that wages get paid before any income tax gets paid is stunning.
why would you be stunned ducks doesnt understand something

[boutons_deux]

apologizing for the domination of society and government by a small number of very rich people isn't freedom, it's the definition of indoctrination

"domination of society and government by a small number of very rich people" is the definition of oligarchy, is why America is fucked into permanent decline

The oligarchy has lied to, indoctrinated America for decades that (unregulated) Capitalism is the best way to organize society, almost as some kind Natural Law that cannot be violated.

Result?

Capitalism, profoundly anti-democratic, has FAILED to provide freedom for the majority of Americans (poverty and/or crushing debt isn't freedom) and maximum freedom to the minuscule (white male) oligarchy.

[DarrinS]

No you didn’t you fucking moron you didn’t, and still don’t, understand any of this.

Congrats you’re as smart as spurts.


gfy, rage queen

[DarrinS]

Never earned an honest dollar in your life, have you bitch


Have you found a new job after getting fired from Xhale City Vape?

:lmao

[Spurminator]

They most certainly will. I work for a company that is owned by a husband and wife and they pull in around 12 mil a year in profit. The company is based out of California so they would pay 82% in taxes. They would definitely cut my pay, eliminate mine or others positions in order to gain back profit. They also mght have to sale their home and or other assets because what they own is based on what they make currently bring in. If 82% percent of their income is gone they would no longer be able to pay for it anymore. Don't be an idiot.

First,
https://media.giphy.com/media/EouEzI5bBR8uk/giphy.gif

Second, let's pretend you're not making this up.
Let's assume they keep all $12 million in profit as income and choose not to reinvest any of it into expanding or improving the business.
Let's also assume they don't deduct anything.
They would still only pay the full 82% on dollars $10,000,001 to $12,000,000.

So their tax rate would rise from (I assume) 49% to 82% on $2M of their income. If remaining tax brackets stay the same, their take home income goes down by $660,000. That's not an insignificant change, but it's also not any more uncommon than the swings business owners or CEO's see in a down sales year.

So if they're really going to cut employee pay over their take-home pay of around $7 million going down by less than 10%, then you work for shitty people and you should find a new job.

Anyway, I already said in this thread that I don't agree with going to 70% this soon because it's too drastic a swing for some people and it might force them to move. But LOL at calling a $10 million+ profit company a "Ma and Pa" business. Less than 10% of small businesses even bring in over $1 million (in annual sales, not even profit).

[Spurminator]

Also LOL at them having to move out of their home, like half of their pre-tax $12 million income is tied up in a mortgage or something.

[Roscoe P. Coltrane]

First,
https://media.giphy.com/media/EouEzI5bBR8uk/giphy.gif

Second, let's pretend you're not making this up.
Let's assume they keep all $12 million in profit as income and choose not to reinvest any of it into expanding or improving the business.
Let's also assume they don't deduct anything.
They would still only pay the full 82% on dollars $10,000,001 to $12,000,000.

So their tax rate would rise from (I assume) 49% to 82% on $2M of their income. If remaining tax brackets stay the same, their take home income goes down by $660,000. That's not an insignificant change, but it's also not any more uncommon than the swings business owners or CEO's see in a down sales year.

So if they're really going to cut employee pay over their take-home pay of around $7 million going down by less than 10%, then you work for shitty people and you should find a new job.

Anyway, I already said in this thread that I don't agree with going to 70% this soon because it's too drastic a swing for some people and it might force them to move. But LOL at calling a $10 million+ profit company a "Ma and Pa" business. Less than 10% of small businesses even bring in over $1 million (in annual sales, not even profit).lol why would I be making it up. 70% federal income tax rate + 12% state income tax rate is way more than a loss of 666,000. They would most certainly downsize to get below the 10 mil. Any smart business person would do that.

[DarrinS]

Why do you refuse to answer? You ever earned an honest dollar through work in your life?

You aren’t smart enough to be as wealthy as you try to project, did you inherit all your money like pedo cocksucker cowboy did?


If anything, I have negative inheritance as I have to financially support an aging parent whose only income is SS.

Your bitterness comes through in all of your posts. I'd say you'd reach my level of financial independence one day, but its been my experience that bitter, angry people like yourself don't climb very far up the ladder.

[Spurminator]

lol why would I be making it up. 70% federal income tax rate + 12% state income tax rate is way more than a loss of 666,000. They would most certainly downsize to get below the 10 mil. Any smart business person would do that.

Do the math. If they make $12 million, they're already paying 37% federal + 12% state taxes on income between $600K and $12 million.

Going to 70% federal for earnings above $10 million is an increase of 33% on $2 million.

$2 million x 33% = $660,000.

Taxes on dollars $1 thru $10,000,000 remain the same.

If they have less than a 10% buffer on their living expenses or business costs they're probably not very good businesspeople, and I have a hard time believing anyone that careless with money runs a business that brings in over $10 million in profit.

[spurraider21]

lol why would I be making it up. 70% federal income tax rate + 12% state income tax rate is way more than a loss of 666,000. They would most certainly downsize to get below the 10 mil. Any smart business person would do that.
another person who doesn't understand how tax brackets work :lmao... its uncanny

maybe ocasio cortez can give you a lesson on how this stuff works

[Spurminator]

I just noticed the "downsize to get below $10 million" part.
:spin

Jesus, do any of you file taxes? I know a lot of people outsource their tax services but you really should at least LOOK at them before filing... It's baffling how many people lack a fundamental understanding of tax brackets.

[spurraider21]

I just noticed the "downsize to get below $10 million" part.
:spin

Jesus, do any of you file taxes? I know a lot of people outsource their tax services but you really should at least LOOK at them before filing... It's baffling how many people lack a fundamental understanding of tax brackets.
so far in this thread alone we've had derptacular, chris, roscoe coltrane who have shown they dont know how tax brackets work

excluded darrin who acknowledged his error and recanted. at least rmt knows how it works

[Roscoe P. Coltrane]

I just noticed the "downsize to get below $10 million" part.
:spin

Jesus, do any of you file taxes? I know a lot of people outsource their tax services but you really should at least LOOK at them before filing... It's baffling how many people lack a fundamental understanding of tax brackets.lol, you got me. I wasn't paying attention. I included the amount below 10 mil and admit im not a tax expert. We have a account that doesn't our taxes. Either way 600,000 grand is a fair amount of money they will find a way to make up that amount of money. Would you be happy with losing 600,000 to the government with out a decrease in your work load or responsibilities? There is a lot of liability in the industry that I work in. Don't know why you are so eager to see the government take people's money. Is your jealously for people that have some money that great? If there is a 70% tax increase it should be well over the 10 mil mark. Not only that a 70% tax increase on earnings over 10 mil would not be enough to pay for what she's proposing. So it will trickle down to the middle class and lower income workers. And it will definitely create loss of jobs and wages.

[ElNono]

It's all academic and 600 grand sounds like a lot of money, but it's the price you pay for being successful, and stings a whole lot less than getting $1200 off somebody that makes just $10000. This is where we enter the 'fairness' area, and unless you're living the multi-million dollar life, it's difficult for people to get in those shoes too.

[DarrinS]

It's all academic and 600 grand sounds like a lot of money, but it's the price you pay for being successful, and stings a whole lot less than getting $1200 off somebody that makes just $10000. This is where we enter the 'fairness' area, and unless you're living the multi-million dollar life, it's difficult for people to get in those shoes too.


I agree, but there aren't enough people in the "tippy top" to pay their fair share in order to finance AOC's utopian social justice green deal.

So, you'd have to go get $ from lower tier brackets, i.e. upper middle class.

[spurraider21]

even with percentages being equal, the burdens are inherently unequal.

for somebody earning 50k, paying 40% in taxes (20k) is going to sting a heck of a lot more than somebody earning somebody earning 5 million paying 40% in taxes (2 million).

lower class, low-middle, and even many in middle class are living paycheck to paycheck. for them, you're cutting into their livelihood. for the wealthy, you're cutting into their saving. it's a huge difference.

[spurraider21]

I agree, but there aren't enough people in the "tippy top" to pay their fair share in order to finance AOC's utopian social justice green deal.

So, you'd have to go get $ from lower tier brackets, i.e. upper middle class.
we always hear about how the top 1% pay such a high % of the taxes. there's clearly enough there

[lefty]

Is Mark Ruffalo willing to pay the tax?

[hater]

I agree, but there aren't enough people in the "tippy top" to pay their fair share in order to finance AOC's utopian social justice green deal.

.

Yes there are

Tax them

Tax them all

[hater]

To add to that.

Since 1% of americans own 90% US wealth we can estimate:
- total US income is about 13 trillion a year so 1% would make about 11 trillion
- tax these 1% for say 50% that would net us say 5 trillion in revenue

That would buy a whole pot of Ocasio Cortezes :)

[Spurminator]

lol, you got me. I wasn't paying attention. I included the amount below 10 mil and admit im not a tax expert. We have a account that doesn't our taxes. Either way 600,000 grand is a fair amount of money they will find a way to make up that amount of money. Would you be happy with losing 600,000 to the government with out a decrease in your work load or responsibilities? There is a lot of liability in the industry that I work in. Don't know why you are so eager to see the government take people's money. Is your jealously for people that have some money that great? If there is a 70% tax increase it should be well over the 10 mil mark. Not only that a 70% tax increase on earnings over 10 mil would not be enough to pay for what she's proposing. So it will trickle down to the middle class and lower income workers. And it will definitely create loss of jobs and wages.

This is a predictable pivot... after embarrassing yourself with your complete ignorance of tax brackets you transition to "you're jealous" and "you're trying to take other people's money." These are common talking points with the sector of people who are too stupid to follow along.

I favor progressive taxation because the wealthy tend to benefit more from the American system, and, more importantly, because having more money makes it easier to make more money.

A person's 1 millionth dollar of income is taxed at 37%, while a person's 25 thousandth dollar is taxed at 22%. This seems more than fair for the million dollar earner. At the very least, it is 15% easier for a person earning $1 million to earn another thousand dollars than it is for someone making $25,000 to earn another thousand. The idea that rich people have to work harder to make money because they're taxed at higher rates doesn't pass muster in the real world, because it is far more difficult for people with less money to grow their income significantly.

I will say, for a third time, I don't know if 70% is the right number, and I definitely don't think it should go into effect without building up to it over time. But you guys have to quit allowing yourselves to be duped into soldiering for billionaires on the ludicrous talking points they feed you.

[Spurtacular]

you're refusing to learn about marginal tax rates.

ocasio cortez never said 70% would be a flat tax rate. she said it would be for income above 10 million. if somebody earns 12 million, their "income above 10 million" would only be 2 million. so only that last 2 million would be taxed at the 70% rate. the first 10 million would all be taxed at the lower rates pursuant to those brackets.

the rule of thumb is you never take home less money for earning more money, no matter what the tax brackets are

Okay, so the initial math was wrong; but I still disagree with effectively punishing success. I'm fundamentally against the govt. thinking they have a right to more than half of proceeds ever.

[hater]

Okay, so the initial math was wrong; but I still disagree with effectively punishing success. I'm fundamentally against the govt. thinking they have a right to more than half of proceeds ever.

Whoever is not in agreement can easily move to mexico or other countries tbqh

They would still live comfortably in mexico

[Spurtacular]

Whoever is not in agreement can easily move to mexico or other countries tbqh

They would still live comfortably in mexico

:lol I don't know what you're talking about.

[hater]

:lol I don't know what you're talking about.

Why?

You either accept this countries laws or you GTFO

If ocasio Cortez wins billionaires will have to pay up or get da fuck outta here

[Spurtacular]

Why?

You either accept this countries laws or you GTFO

If ocasio Cortez wins billionaires will have to pay up or get da fuck outta here

TBH, most making over $10 million aren't probably worthy of it. I do believe in societal pressure against that. I just don't advocate govt. stealing money; we know what they do with it.

[hater]

TBH, most making over $10 million aren't probably worthy of it. I do believe in societal pressure against that. I just don't advocate govt. stealing money; we know what they do with it.

Taxing is now stealing money?

[ElNono]

I agree, but there aren't enough people in the "tippy top" to pay their fair share in order to finance AOC's utopian social justice green deal.

So, you'd have to go get $ from lower tier brackets, i.e. upper middle class.

This is the usual canard by which nothing gets done, and it's really a non-point. Unless you start collecting you can't really budget whatever you want to do with it.

Ultimately, it's actually interesting that all these social justice warriors care enough about budgets to find ways to pay for the handouts, something that rich folks apparently can overlook.

[Spurtacular]

Taxing is now stealing money?

Over taxing is; always has been.

[Winehole23]

1082006370751152128

[CosmicCowboy]

You guys can argue about hypothetical tax rates all night but the bottom line is taxes on the middle class will have to go up significantly to pay for single payer health care because that's where the real money is.

[boutons_deux]

less obvious than the tax rate are the 100s of loopholes, bought by the oligarchy, that allow BigCorp and the wealthy to avoid/evade taxes, to hide profits and wealth offshore.

[spurraider21]

You guys can argue about hypothetical tax rates all night but the bottom line is taxes on the middle class will have to go up significantly to pay for single payer health care because that's where the real money is.
top 1% hold 38% of the wealth lol. they control more than the bottom 90%

but yes lets target det sweet spot of the 25th-75th percentiles or whatever for the real money

[Winehole23]

:popcorn

[ElNono]

You guys can argue about hypothetical tax rates all night but the bottom line is taxes on the middle class will have to go up significantly to pay for single payer health care because that's where the real money is.

How so? Top 5% grabs about 37% of income share, the next 45% about 50%, and the bottom 50% a measly 13%...

https://upload.wikimedia.org/wikipedia/commons/0/0c/Income_inequality_panel_-_v1.png

The income gap between the bottom 50% and the middle 45% that comes above it is ~$70k, the income gap between the middle 45% and the top 5% is over $500k.

[ElNono]

Unless "middle class" is defined to gross over $250k a year or something... which really is the top 5%...

[spurraider21]

admittedly, the figures do calm down when you switch from "wealth" to "income" (although that disparity highlights just how much the high earners save vs spend... which is yet another reason progressive tax schemes are not oppressive)...

but even then, half all income comes from the top 20%. you dont need to target the middle class to increase revenue, as CC said

edit: thanks elnono for the numbers

[CosmicCowboy]

top 1% hold 38% of the wealth lol. they control more than the bottom 90%

but yes lets target det sweet spot of the 25th-75th percentiles or whatever for the real money

Why not just take all their assets? You could pay the bill's for a couple of years, but then what?

[spurraider21]

Why not just take all their assets? You could pay the bill's for a couple of years, but then what?
great strawman. i mean really. s-tier fox news talking point

and yep. taxes are a one time thing. people never earn money ever again after being taxed.

[CosmicCowboy]

When social security and Medicare go broke in 20 years the wheels are going to come off anyway.

[hater]

When social security and Medicare go broke in 20 years the wheels are going to come off anyway.

We gone die anyway why get off the bed?

[spurraider21]

When social security and Medicare go broke in 20 years the wheels are going to come off anyway.
yup so no point doing anything now about anything

[ElNono]

:lol just say what you mean, and stop beating around the bush: you rather have the money to get all the healthcare you want/need rather than having less money but everyone having universal healthcare.

It's a valid position, even if some people agree/disagree with it.

[boutons_deux]

" taxes on the middle class will have to go up significantly to pay for single payer health care because that's where the real money is."

medicare for all is paid from ALL income, deducted automatically just like income tax, SS, Medicare, are now,

so employers' private group insurance will destroyed, which employers should love, gets them out of the health insurance business.

but

ain't gonna happen, BigInsurance is one of the many owners of Congress

[DarrinS]

Unless "middle class" is defined to gross over $250k a year or something... which really is the top 5%...

Depends on where you live. That number is probably lower for SA.

But, as I posted earlier, you'll have to go after upper middle class tax $$, which is what you're describing.

[DarrinS]

Personally, I don't want to pay health care for people who have a 150k mortgage, but have 90k worth of vehicles in their driveway.

[Pavlov]

Personally, I don't want to pay health care for people who have a 150k mortgage, but have 90k worth of vehicles in their driveway.What do you think health insurance is?

[hater]

250k???!

My janitor makes 250k here I live nigas

Fuck that Im off the tax wagon. I changed my mind

I thought wed be taxing billionaires. Wtf?

[hater]

Im talking household income btw

[DarrinS]

What do you think health insurance is?

I thought the conversation was about universal health care through soaking the "rich".

[DarrinS]

250k???!

My janitor makes 250k here I live nigas

Fuck that Im off the tax wagon. I changed my mind

I thought wed be taxing billionaires. Wtf?


I know you're joking, but 250k isn't an outrageous number, especially for two working people.

[Spurminator]

Personally, I don't want to pay health care for people who have a 150k mortgage, but have 90k worth of vehicles in their driveway.

I don't even know what point you're trying to make here.

[Pavlov]

I thought the conversation was about universal health care through soaking the "rich".But you're already paying for health care for people like you described.

I do love it when people who brag about their money claim they aren't rich though. You didn't let me down.:tu

[hater]

I know you're joking, but 250k isn't an outrageous number, especially for two working people.

Yes thats what I meant

A family of 3 can easily surpass that without trying in most big cities

So we tax them 70% while billionaires go to St Tropez?

Fuck that

Scratch this dumb idea

[Pavlov]

I don't even know what point you're trying to make here.He's better than other people because money.

[spurraider21]

I don't even know what point you're trying to make here.
i'm surprised he didnt go with "people who get food stamps and then spend money on chains and jewelry"

[Spurminator]

Yes thats what I meant

A family of 3 can easily surpass that without trying in most big cities

So we tax them 70% while billionaires go to St Tropez?

Fuck that

Scratch this dumb idea

No one has ever suggested taxing $250K earners 70%.

[DarrinS]

He's better than other people because money.

I've never said that.

But I do drive a 2004 vehicle, my wife drives a 2007, and my daughter drives a 2010. All paid off.

There are too many "poor" people living paycheck to paycheck because they had to have a brand new fully loaded Tundra.

Retards. Live within your means.

[Pavlov]

If you have an iPhone XS Max on Boost mobile you can't qualify for health care.

[hater]

No one has ever suggested taxing $250K earners 70%.

So how much are they suggesting taxing a 350k earner?

Just asking for a friend

[hater]

I've never said that.

But I do drive a 2004 vehicle, my wife drives a 2007, and my daughter drives a 2010. All paid off.

There are too many "poor" people living paycheck to paycheck because they had to have a brand new fully loaded Tundra.

Retards. Live within your means.

This is true but its the american way that has been fomented by american corporations

Want a credit card? Here take 3

Want a car no downpayment? Here take a 2019 one

Want a house for peanuts? Here ya go

You have to agree the stupidity was fomented by the greedy bankers and corporatocracy to take advantage of average retard american

[Spurminator]

So how much are they suggesting taxing a 350k earner?

Who's they?

[ElNono]

This is true but its the american way that has been fomented by american corporations

Want a credit card? Here take 3

Want a car no downpayment? Here take a 2019 one

Want a house for peanuts? Here ya go

You have to agree the stupidity was fomented by the greedy bankers and corporatocracy to take advantage of average retard american

don't call ducks that, man

[Spurminator]

I've never said that.

But I do drive a 2004 vehicle, my wife drives a 2007, and my daughter drives a 2010. All paid off.

There are too many "poor" people living paycheck to paycheck because they had to have a brand new fully loaded Tundra.

Retards. Live within your means.

How does this impact health care coverage? People qualify for entitlements based on income, not income minus debt.

[hater]

Who's they?

Who else? Ocasio and Cortez

[DarrinS]

i'm surprised he didnt go with "people who get food stamps and then spend money on chains and jewelry"

I have seen people use a Lone Star card and then load up their Cadillac Escalade.

[Pavlov]

I have seen people use a Lone Star card and then load up their Cadillac Escalade.Did you follow them around or something?

Creepy.

[DarrinS]

This is true but its the american way that has been fomented by american corporations

Want a credit card? Here take 3

Want a car no downpayment? Here take a 2019 one

Want a house for peanuts? Here ya go

You have to agree the stupidity was fomented by the greedy bankers and corporatocracy to take advantage of average retard american


There is some truth to what you're saying, but there's also personal responsibility.

[DarrinS]

Did you follow them around or something?

Creepy.

If you're right behind someone in line (you know, close enough to see a Lone Star card), you'll be right behind them exiting the store. Creepy

[spurraider21]

I have seen people use a Lone Star card and then load up their Cadillac Escalade.
plantation mentality amirite?

[Pavlov]

If you're right behind someone in line (you know, close enough to see a Lone Star card), you'll be right behind them exiting the store. CreepySorry, I don't watch how people buy groceries and then make sure I know what car they're driving. It does indeed sound creepy to me.

[Chris]

Pavlov keeps his head down like a good little slave.

[DarrinS]

plantation mentality amirite?

I'm not sure what you're implying.

[ElNono]

I have seen people use a Lone Star card and then load up their Cadillac Escalade.

Easily explainable, the actual owner of the $100 Lone Star card sold it for $80 to indulge in his/her crack habit to the Escalade owner...

[Pavlov]

Pavlov keeps his head down like a good little slave.What do you do at grocery stores, Qhris? Decide which ones are kidnapping babies for Hillary to eat?

[Spurminator]

Who else? Ocasio and Cortez

As far as I know there's not an official tax proposal, this is just a quote from an interview and suddenly conservatives are freaking out.

She floated $10 million, and referenced tax brackets in the 60's, but there wasn't a tax bracket starting at $10 million in the 60's. I'd assume inflation would be factored in heavily, and consideration would be given to percentages of population and households that earn over a certain amount of income.

[Will Hunting]

If you're right behind someone in line (you know, close enough to see a Lone Star card), you'll be right behind them exiting the store. Creepy
Do you really pay attention to how the person ahead of you in line pays for their groceries? You’re definitely an outlier if so :lol

[Spurminator]

I have seen people use a Lone Star card and then load up their Cadillac Escalade.

Have you seen someone use a Lone Star card to pay for a Doctor's appointment?

You're all over the place, man.

[hater]

As far as I know there's not an official tax proposal, this is just a quote from an interview and suddenly conservatives are freaking out.

She floated $10 million, and referenced tax brackets in the 60's, but there wasn't a tax bracket starting at $10 million in the 60's. I'd assume inflation would be factored in heavily, and consideration would be given to percentages of population and households that earn over a certain amount of income.

Ok good

Im back on the tax wagon :tu

[DarrinS]

Do you really pay attention to how the person ahead of you in line pays for their groceries? You’re definitely an outlier if so :lol

Pretty easy to see from 3 feet away.

[Hillary Clinton]

Everyone is gonna need health insurance when they get old. There are too many fucking retards in this world. :lol

[Will Hunting]

i'm surprised he didnt go with "people who get food stamps and then spend money on chains and jewelry"
Or “they’re on food stamps and have a big screen TV!” ignoring the fact that it’s dirt fucking cheap to own a TV :lol

[Spurminator]

"I don't want taxpayers to have to pay for someone's $500K cancer treatment if they bought an expensive car 3 years before that."

[Will Hunting]

Pretty easy to see from 3 feet away.
I understand it’s easy to see, it’s just never something I’ve had my eyes on or care to remember (I’m usually doing some combination of checking out the girl who came to the grocery store in her yoga attire, on my phone, or pissed off about how slowly the line is moving, it just seems like a bizarre thing to focus on).

[Spurminator]

I understand it’s easy to see, it’s just never something I’ve had my eyes on or care to remember (I’m usually doing some combination of checking out the girl who came to the grocery store in her yoga attire, on my phone, or pissed off about how slowly the line is moving, it just seems like a bizarre thing to focus on).

On top of that, I don't typically notice what car they get into afterward.

[Hillary Clinton]

When you're on adult diapers and you can't afford healthcare.

[Will Hunting]

On top of that, I don't typically notice what car they get into afterward.
Yeah, esp since it’s not like you’re walking out of the store at the same time they are. They’re on their way to their car while your groceries are getting rung up, you’d have to be making a concerted effort to track them down in the parking lot :lol

[Spurminator]

Kinda thinking Darrin might be full of shit with his anecdotes sometimes. Shocking to consider.

[Will Hunting]

When you're on adult diapers and you can't afford healthcare.

https://memegenerator.net/img/instances/41905749/dont-need-healthcare-ive-got-jesus.jpg

[Will Hunting]

Not the first time I’ve posted that picture, but just now noticed the asymmetrical FUPA.

[Chris]

checking out the girl who came to the grocery store in her yoga attire

creepy

[Hillary Clinton]

People are short sighted, and the Dems need to use my talking point.

[Will Hunting]

Yeah sue me, I pay more attention to attractive women wearing skin tight spandex than I do the random person in front of me who might be using food stamps.

[Pavlov]

:lmao Taliban incel Qhris doesn't want men looking at women in HEB.

[Spurminator]

Yeah sue me, I pay more attention to attractive women wearing skin tight spandex than I do the random person in front of me who might be using food stamps.

Chris doesn't understand the typical behavior of people who leave the house.

[Will Hunting]

Kinda thinking Darrin might be full of shit with his anecdotes sometimes. Shocking to consider.
I like how he used Cadillac Escalade in his anecdote, the car most commonly associated with drug dealers and rappers who are bad with money.

[DarrinS]

I understand it’s easy to see, it’s just never something I’ve had my eyes on or care to remember (I’m usually doing some combination of checking out the girl who came to the grocery store in her yoga attire, on my phone, or pissed off about how slowly the line is moving, it just seems like a bizarre thing to focus on).

Perv. :lol

[DarrinS]

I like how he used Cadillac Escalade in his anecdote, the car most commonly associated with drug dealers and rappers who are bad with money.

Pretty common vehicle here, tbh

[baseline bum]

Pretty easy to see from 3 feet away.

Dude don't go grocery shopping on the first on the month. HEB is a fucking madhouse. :lol

[Will Hunting]

Even though I’ve lived in Texas for 5+ years now no one has ever answered this - is it pronounced “H.E.B.” as an abbreviation or is it like the Anti-Semitic term “Heeb”

[baseline bum]

Perv. :lol

Not a fan of the ladies, are you Trebeck?

[baseline bum]

Even though I’ve lived in Texas for 5+ years now no one has ever answered this - is it pronounced “H.E.B.” as an abbreviation or is it like the Anti-Semitic term “Heeb”

Abbreviation

[Pavlov]

I wish it was called Butt's tbh.

[Will Hunting]

Abbreviation
:lol I was really hoping for the latter

[Will Hunting]

If you're right behind someone in line (you know, close enough to see a Lone Star card), you'll be right behind them exiting the store. Creepy
Meant to ask, did this person you saw mention whether or not she had a son who was able to triangulate the address of women on the internets using google maps and flaglots?

[DarrinS]

Not a fan of the ladies, are you Trebeck?


Turd Ferguson :lol

[DarrinS]

Even though I’ve lived in Texas for 5+ years now no one has ever answered this - is it pronounced “H.E.B.” as an abbreviation or is it like the Anti-Semitic term “Heeb”

If you say, I'm going to Heeb, people might give you a strange look.

[baseline bum]

Turd Ferguson :lol

I'll take Famous Titties for $800 :lol

[DarrinS]

Meant to ask, did this person you saw mention whether or not she had a son who was able to triangulate the address of women on the internets using google maps and flaglots?

That dude disappeared

[DarrinS]

I'll take Famous Titties for $800 :lol

I'll take the penis mightier, Alex. :lol

[spurraider21]

this thread in a nutshell


https://www.youtube.com/watch?v=gj1DVouGCrw

[Chucho]

I'll take the penis mightier, Alex. :lol


"But does it work, Trebeck? You're standing on a gold mine!"

[Will Hunting]

People are short sighted, and the Dems need to use my talking point.
:lol why did you get pinked?

[Will Hunting]

I'll take the penis mightier, Alex. :lol
My favorite was the 40th anniversary special :lol

”I’ll take le tits now for $200 Alex!”

[spurraider21]

My favorite was the 40th anniversary special :lol

”I’ll take le tits now for $200 Alex!”
I'll take WHORE SEMEN