Biden proposes higher taxes

[sluggermatt15]

Originally Posted by wolfdog

Largely, those who don't pay income tax, use most of our resources. Unfortunately, there will be millions more.

Yep, same for those rich, rich folks who make millions and millions, yet pay less taxes than the average American.

[oregonwoodsmoke]

Originally Posted by sluggermatt15

Yep, same for those rich, rich folks who make millions and millions, yet pay less taxes than the average American.

No they don't. That's an urban myth promoted by those who have socialist tendencies. The rich folks pay plenty of taxes, and as for the average American, over 41% of Average Americans pay no federal income tax at all. It would be tricky to pay less taxes than the people who are paying no taxes.

[rantiquity]

Originally Posted by skeddy

they have an insatiable desire for it. It's just been loaned to you until they can identify a need to take more of it.

Originally Posted by wolfdog

Largely, those who don't pay income tax, use most of our resources. Unfortunately, there will be millions more.

Of course the question is: Why do we continue to vote the porkers into office?
Answer: The federal money received for local unnecessary things is pandering to get you to vote for those politicians. And guess what it works!
Why should taxpayers in Iowa pay for our pork and we pay for theirs? No it doesn't even out as we pay for both. Which results in a 34 Trillion dollar and growing debt.

[rantiquity]

Originally Posted by sluggermatt15

Yep, same for those rich, rich folks who make millions and millions, yet pay less taxes than the average American.

The top 50% of federal taxpayers pay 96.5% of all federal income taxes and the bottom 50% pays 3.5%.
Actually the top 50% federal taxes increased while the bottom 50% of federal taxpayers decreased.



The top 1% of federal taxpayer pay 25.6% of all federal income taxes which is seven times higher than the bottom 50% combined.

Using the data from 1913 through the end of 2011, the correlation between the maximum marginal income tax bracket and total Federal receipts is a negative 0.50. In simple terms, when taxes are cut, Federal revenue has a very strong tendency to rise! And when taxes are raised, government revenue has a strong tendency to fall.

https://www.forbes.com/sites/mikepat...h=3b1e3e6b4bf2

What has happened in the past when taxes were cut congress (both parties) spends it instead of reducing the national debt.

[Transmition]

You're only specifically looking at federal income taxes because it looks the worst - it is structured so that the rich pay more of it. But it's not the only tax, it's not even the only federal tax, it's just an easy way to mislead people into thinking taxes are unfair.

If you look at all taxes paid as a proportion of income, then the richest generally pay around 8% and the poorest pay 12-15%. But don't let this make you think that a flat tax would be more fair. Tax dodges are rife, and a flat tax would just allow them to reduce their taxes further.

[EDS_]

Originally Posted by sluggermatt15

Yep, same for those rich, rich folks who make millions and millions, yet pay less taxes than the average American.

This lie has been disproved over and over so why keep telling it?

[Ceece]

Rich pay plenty of taxes. I'd like to see the government and the programs it runs cut in half. If they can't operate on what they currently get in taxes then they have clearly failed.

[Quick Enough]

Originally Posted by rantiquity

Do you think if this come true or not will it hurt or help Biden's election chances?

And you think this is new news?

[Volobjectitarian]

Originally Posted by EDS_

This lie has been disproved over and over so why keep telling it?

Because retelling it keeps it front and center in the mind of the uninformed and gullible, AKA the largest voting bloc in the US.

It is demonstrably untrue with even a cursory glance at any historical tax data. You know, I know it, anyone with two brain cells to rub together knows it. Thing is, urban myths and political lies like these enjoy immortality because of the old adage - none are so blind as those who refuse to see.

But why refuse to see? The uninformed and gullible are hellbent and determined to remain that way because ignorance is bliss after all. The underlying basis for that being timelessly summed up by Plato some 2,400 years ago - none is more hated than he who speaks the truth. Most folks don't want to be hated, so deep down in the collective psyche, we just know NOT to speak truth, and further, we learn/adapt to not even trying to know it. Better for societal acceptance and belonging, dontcha know.

Two and half millennia of thinking has gone into why a lie makes it around the world twice before the truth gets it pants on, but to me it always comes down to what Plato said. Nobody wants to hated, and the human race hates nothing in the physical or metaphysical universe so much as truth.

[SAN_Man]

Originally Posted by rantiquity

My question is very simple...why does the government, Federal or state, need more money?
34 Trillion in debt is not an investment. Its a burden to present and future taxpayers.
Wasting money on 'pork' spending that only benefits the few is burden on the rest.

We don't have a revenue problem, in fact we have record revenues coming into the treasury. The problem is we have a spending problem.

And most of that spending is the result of decades of social promises that simply cannot be met (or even reduced, due to laws passed by Congress) without going into deficit spending.

They'll continue to spend, until they destroy the currency, which will be a catalyst for a new global order, using CBDC (central bank digital currency). The anonymity of cash use will be totally eliminated and every transaction will be recorded and taxed.