Kinda sums up the reason why we aren’t taxing the wealthy. Everyone thinks it means them. Normal folks have a hard time grasping how much money the truly super-wealthy are playing with.
The tax increase the republicans are fighting tooth and nail is only on the top 1% of taxpayers. If you make less than $400,000 you’re safe, and it nets to a tax cut because things like health care and drugs will be more affordable.
Granted, if you make more than that, the increase is just over a penny on every dollar. But it’s likely most folks at that level will have deductions to reduce even that, plus they also will see the lower cost of living mentioned above.
The real target is the ultra-uber wealthy, who pay a lower tax rate than any of us. The top billionaires reap an average middle class salary every MINUTE! $75,000, nearly $500,000 per hour.
With the various special tax breaks they were gifted under the past republican congresses, they now are paying taxes at zero to 8% of their income. Most of the rest of us are paying 15-33%. Think about that for a minute. And most shelter around 20% of their income in places the government can’t reach, hidden from even reporting it. We sure can’t do that. If you are working for wages, you pay tax on every dollar your boss pays you.
My gosh, why aren’t we demanding the truly rich pay at least the same rate as teachers, police, fry cooks, and office workers? Trickle down was proven to be a myth decades ago but is still fed to us to make us think by working for a living we are somehow getting a share of their billions, that’s why.
But stock dividends reinvested in off-shore tax shelters to earn more stock dividends, and building plants overseas, does not generate jobs or wealth for Americans. Why do you think the rust belt is rusting? Not because of the Democrats who fought to keep the jobs and factories here. But hey, the Chinese were doing nicely there for a while…
Zykoic over 1 year ago
Rich have foundations and lawyers to shield them from taxes and the poor are paid by EBTs and welfare. Guess that leaves…..
prairiedogdance Premium Member over 1 year ago
Kinda sums up the reason why we aren’t taxing the wealthy. Everyone thinks it means them. Normal folks have a hard time grasping how much money the truly super-wealthy are playing with.
The tax increase the republicans are fighting tooth and nail is only on the top 1% of taxpayers. If you make less than $400,000 you’re safe, and it nets to a tax cut because things like health care and drugs will be more affordable.
Granted, if you make more than that, the increase is just over a penny on every dollar. But it’s likely most folks at that level will have deductions to reduce even that, plus they also will see the lower cost of living mentioned above.
The real target is the ultra-uber wealthy, who pay a lower tax rate than any of us. The top billionaires reap an average middle class salary every MINUTE! $75,000, nearly $500,000 per hour.
With the various special tax breaks they were gifted under the past republican congresses, they now are paying taxes at zero to 8% of their income. Most of the rest of us are paying 15-33%. Think about that for a minute. And most shelter around 20% of their income in places the government can’t reach, hidden from even reporting it. We sure can’t do that. If you are working for wages, you pay tax on every dollar your boss pays you.
My gosh, why aren’t we demanding the truly rich pay at least the same rate as teachers, police, fry cooks, and office workers? Trickle down was proven to be a myth decades ago but is still fed to us to make us think by working for a living we are somehow getting a share of their billions, that’s why.
But stock dividends reinvested in off-shore tax shelters to earn more stock dividends, and building plants overseas, does not generate jobs or wealth for Americans. Why do you think the rust belt is rusting? Not because of the Democrats who fought to keep the jobs and factories here. But hey, the Chinese were doing nicely there for a while…
braindead Premium Member over 1 year ago
Republicans all believe that tax cuts for the rich benefit them personally.