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we always hear about how the top 1% pay such a high % of the taxes. there's clearly enough there
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.
we always hear about how the top 1% pay such a high % of the taxes. there's clearly enough there
Is Mark Ruffalo willing to pay the tax?
Yes there are
Tax them
Tax them all
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
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.
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.
Last edited by Spurtacular; 01-07-2019 at 02:51 PM.
Whoever is not in agreement can easily move to mexico or other countries tbqh
They would still live comfortably in mexico
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 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.
Taxing is now stealing money?
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.
Over taxing is; always has been.
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.
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.
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
:popcorn
How so? Top 5% grabs about 37% of income share, the next 45% about 50%, and the bottom 50% a measly 13%...
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.
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
Unless "middle class" is defined to gross over $250k a year or something... which really is the top 5%...
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.
When social security and Medicare go broke in 20 years the wheels are going to come off anyway.
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