Should tax cuts only go to the top 3% of income earners?

that doesn't prove your point and a major fail is pretending that the ten richest men represent most of the 3 or 4 million in the top one percent.

 

Huh?
My other source is about the top 1% doubling their fortune.

 

You're quoting a 16 year old article?

Huh? WTF is Oxfam?

 

that has nothing to do with your specious claim that they aren't paying taxes

 

I put up 1 source of the credit crisis, and 1 source up of the corona crisis.
And with that, I prove the pattern that government assist big businesses pulling through in such a way the rich get a hell of a lot richer and have are investing with zero risks.

It's a very old world wide organization that got their expertise in poverty. lol

 

You say that the rich pay 40% income tax. How about you go prove that, by posting how much Biden and Trump actually pay. lol
We both know your claim is BS in reality due to tax cuts on tax cuts that favors the rich.

 

are you saying that two individuals in a position that less than 50 men have held, are representative of 3.5 million or so taxpayers. You really don't have a clue about this issue to you. of course tax cuts favor those who actually pay taxes. I guess you haven't understood that either.

 

for those who claim the rich don't pay a large share of the income

https://www.federalbudgetinpictures.com/do-the-rich-pay-their-fair-share/

 

Their position has nothing to do with the lack of taxes they pay. Their positions does give insight that they are rich and hardly pay any taxes.

 

how many rich people do you think "hardly pay any taxes" given that the top 1% pay about 42% of the income tax, all the estate tax and now a surcharge on medicare premiums-and if you are in the top one percent, you are paying about 5000 a year in those premiums on top of your normal Part B payments even though most top one percenters were maxed out on FICA charges

 

https://www.propublica.org/article/...ds-reveal-how-the-wealthiest-avoid-income-tax

About all of them.

 

and yet the top 1% make 20% of the income and pay 42% of the income tax. add on the Medicare surcharge and the death tax its more like 48%. so this avoidance you talk about really hasn't happened. You would have a somewhat legitimate argument if the top one percent paid less than 20% of the income tax share. YOU DO NOT

oh and your argument is not honest-that article you cited is about billionaires-less than 1000 people in the USA and thus an almost statistically insignificant amount of the top one percent which is over 3 MILLION people. the article actually only talks about the top 25 which is .00000833 of the top one percent.

that's statistically ZERO

 

let's examine a specious argument

I asked this

I was asking about the top ONE PERCENT-over 3 million people and I get this

and the pathetic article he posts only talks about the TOP 25 in the USA

major fail

 

I sourced differently. And it is due to what those people are deducting from their taxes.

 

I proved that the top 25 hardly pay to not pay any taxes. There is absolutely no reason to think this is just a fluke and the top 1% is different. You can only be very aware of this and are just being petty about it.

 

I think society should just simply be PAYG (Pay As You Go). So apply taxes to products and services, the more you buy, the more you've paid. Someone earning and spending $500,000 on goods has paid paid more in tax than someone spending $100,000. If someone wants to pay less tax, buy fewer products and services.

Income should be tax free. There's no incentive to work harder. In the UK, I know loads of people who didn't want pay rises etc.. because they would lose benefit money.

 

That is basically what the FairTax is. A consumption tax that replaces the income tax. One benefit of such a system is that it captures tax from everyone who consumes retail items. So drug dealers, prostitutes, and everyone else who buy things all become contributors to the tax system, whereas now those members of the "cash economy" are expected to honestly report their earnings.

 

@Nonnie and @Hotdogr,

That's certainly an interesting idea you two have stumbled on. One question though: isn't there an argument against a sales tax because it hits the poor the most?

 

Yes. The FairTax supposedly addresses that in the form of a "prebate" where tax is "prefunded" for spending up to the poverty level in the form of direct payments. Everyone gets the prebate so that basic necessities are never taxed for anyone. The poor are not taxed at all, essentially. In addition, only NEW items are taxed. Poor folks can, for instance, purchase a used car with no tax, because the tax on that car was already paid by the original purchaser.

 

Don't know about the US, but many food products are 0% vat (sales tax) in the UK -

https://www.gov.uk/guidance/food-products-and-vat-notice-70114

 

Income Tax.....
if I remember correctly.....
was brought into Canada in order to finance World War I and was promoted as a temporary measure. I believe that the history of income tax is somewhat similar in the USA.

Political Leaders love income taxes because the wealthiest of the wealthy can create a FOUNDATION and end up paying essentially ZERO INCOME TAX even though
billions and billions and billions of dollars move through that foundation.

The movie....."All the Money in the World" gives us some very interesting history on how billionaires like J. P. Getty managed to
avoid paying income taxes entirely.





Can the national debt of the USA be paid off in one year?

?
Can the national debt of the USA be paid off in one year?

1. 
   No
   41 vote(s)
   85.4%
2. 
   Yes
   4 vote(s)
   8.3%
3. *
   No.. it will take seven years and Ezekiel chapters forty to forty eight must be prepared for.
   2 vote(s)
   4.2%
4. 
   By this do you mean that the national debt of the USA is partly a practical joke???????
   1 vote(s)
   2.1%

Change Your Vote



BigMedia... and BigOil... .and BigGovernment.... all love progressive income taxes.....
Income Taxes are an important part of their methods of creating Boom and Bust cycles so that
billionaires can profit by buying shares for some years... and then make a killing by selling short several years later on!!!!!!!!!!!!!!



Alain Pilote:

https://www.michaeljournal.org/arti...story-of-banking-control-in-the-united-states

 

But why limit the conversation to only the Fed tax? Truth is the bottom 50% are taxed in 100 different other ways. And any items they purchase was already taxed so many times, and the end user is stuck with the entire burden.

 

the problem is this:

1) it is the federal income tax which is the biggest tax for most productive people
2) it is the one that the left always claims needs to be higher on productive people
3) and the wealthy pay all those taxes too