Ranulf
Well-known member
Raising taxes on the rich does absolutely nothing, as the rich are most likely to be able to protect their assets from taxes. Largely because, with the introduction of the income tax, taxes on many other investment types were drastically lowered. A decent accountant is very affordable to the wealthy, doncha know.
It's hilarious (yet sad) how these authoritarians raise taxes and then point at the rich and scream about how little they pay...when they literally designed the system that way. The New York Times pays very little income tax, but they do pay quite a lot of the Alternative Minimum Tax. Coincidentally, the New York Times dragged Donald Trump through the mud for paying little income tax, and failed to mention his sizable tax payments due to the Alternative Minimum Tax. Quite hypocritical, but the NYT has been a dishonest propaganda rag for over 100 years, covering up lots of evil for the benefit of people like Hitler and Stalin.
Before there was an income tax, the rich paid a much higher percentage of their wealth than they do today. The poor and middle class paid very little in taxes, in comparison to today, as they were less likely to have the kind of investments and assets that were taxed. What is amazing to me, as a student of history, is how these authoritarians have managed to sell themselves as the champions of the poor while continually passing policies that ensure the poor stay poor. They can't risk their downtrodden voter base getting a leg up, see?
Kill the job creators, and people have no other option but to rely on the gubment for help. That's why every single time they try to get a flat tax passed (no loopholes, period) it gets shot down. Someone had posted an earlier thread showing how little the rich paid in taxes as a percentage of their income. They were all under 10%. Do yall really think that raising taxes on the rich will do a lick of good? Do you honestly think that most of the United State's rich people would come out in support of higher taxes if they were actually going to have to pay them? If they truly believed in sharing their wealth, they would gift a portion of their money to the Federal Government in addition to their taxes. None of them, to my knowledge, do this. Small and Medium Businesses are the ones that truly pay the tax
Every time there has been a tax increase, total tax revenue has decreased. Read that again. Its true. Every time there has been a tax cut, total tax revenue has increased. Yes. It really works this way. Lower taxes encourage economic growth and more wealth creation. This added wealth and income means that, even at a lower percentage, a larger amount of tax revenue is generated.
(20% of 100 is less than 15% of 150)
Meanwhile, the poor and middle class doubly benefit, because not only are they taxed less, they also are the beneficiaries of business expansion and job creation. This means that there are more and better paying jobs for them to choose from, and businesses have to work to attract good workers. Businesses competing for workers is a good thing. Around here, Amazon and a couple other companies were sparring back and forth, offering bonuses, continually raising their starting wages, etc. That is very good for those looking for better opportunities.
I learned this the hard way, from experience. I'm a young dude, but I've worked in restaurants, at camps, in factories, and then the military. Went to college for a bit and went into debt trying to make it work, with no help from family. Student Loans are the poison apple offered to our youth, and have largely degraded the quality of university education while drastically increasing their cost. That is quite a different subject, but suffice to say that student loans and a part time job were not enough. I'm back to the factories, paying down my debt and trying to save enough money for a quality vehicle (I've learned that cheap cars mean frequent, expensive repairs.) I was an electrician in the military, so that's what I am doing now. Working on getting my Journeyman's, and then maybe I will go back and finish my Bachelors. We'll see. I'm clawing my way up the pay scale. I'm not making union wage yet, but my eyes are on the prize.
The life story is to illustrate that I am not like many of you. The idea of putting a $30,000-$40,000 down payment on a car is daunting. I may not be able to do it, and will have to settle for a cheaper trim. I'm not some rich person with their head in the clouds, unaware of the struggle that those who started from nothing have to deal with. I've set myself an ambitious goal and I hope to achieve it. I can't do that if I have no job, and a crap ton of the policies slung around Capitol Hill these days sound like they have an excellent chance of putting even me, in the skilled trades, on unemployment. "Infrastructure Bill" my ass. "Covid-19 Stimulus" my ass. 6% for Covid relief, 94% to pad rich people's pockets and grow their dependent voter base.
It's hilarious (yet sad) how these authoritarians raise taxes and then point at the rich and scream about how little they pay...when they literally designed the system that way. The New York Times pays very little income tax, but they do pay quite a lot of the Alternative Minimum Tax. Coincidentally, the New York Times dragged Donald Trump through the mud for paying little income tax, and failed to mention his sizable tax payments due to the Alternative Minimum Tax. Quite hypocritical, but the NYT has been a dishonest propaganda rag for over 100 years, covering up lots of evil for the benefit of people like Hitler and Stalin.
Before there was an income tax, the rich paid a much higher percentage of their wealth than they do today. The poor and middle class paid very little in taxes, in comparison to today, as they were less likely to have the kind of investments and assets that were taxed. What is amazing to me, as a student of history, is how these authoritarians have managed to sell themselves as the champions of the poor while continually passing policies that ensure the poor stay poor. They can't risk their downtrodden voter base getting a leg up, see?
Kill the job creators, and people have no other option but to rely on the gubment for help. That's why every single time they try to get a flat tax passed (no loopholes, period) it gets shot down. Someone had posted an earlier thread showing how little the rich paid in taxes as a percentage of their income. They were all under 10%. Do yall really think that raising taxes on the rich will do a lick of good? Do you honestly think that most of the United State's rich people would come out in support of higher taxes if they were actually going to have to pay them? If they truly believed in sharing their wealth, they would gift a portion of their money to the Federal Government in addition to their taxes. None of them, to my knowledge, do this. Small and Medium Businesses are the ones that truly pay the tax
Every time there has been a tax increase, total tax revenue has decreased. Read that again. Its true. Every time there has been a tax cut, total tax revenue has increased. Yes. It really works this way. Lower taxes encourage economic growth and more wealth creation. This added wealth and income means that, even at a lower percentage, a larger amount of tax revenue is generated.
(20% of 100 is less than 15% of 150)
Meanwhile, the poor and middle class doubly benefit, because not only are they taxed less, they also are the beneficiaries of business expansion and job creation. This means that there are more and better paying jobs for them to choose from, and businesses have to work to attract good workers. Businesses competing for workers is a good thing. Around here, Amazon and a couple other companies were sparring back and forth, offering bonuses, continually raising their starting wages, etc. That is very good for those looking for better opportunities.
I learned this the hard way, from experience. I'm a young dude, but I've worked in restaurants, at camps, in factories, and then the military. Went to college for a bit and went into debt trying to make it work, with no help from family. Student Loans are the poison apple offered to our youth, and have largely degraded the quality of university education while drastically increasing their cost. That is quite a different subject, but suffice to say that student loans and a part time job were not enough. I'm back to the factories, paying down my debt and trying to save enough money for a quality vehicle (I've learned that cheap cars mean frequent, expensive repairs.) I was an electrician in the military, so that's what I am doing now. Working on getting my Journeyman's, and then maybe I will go back and finish my Bachelors. We'll see. I'm clawing my way up the pay scale. I'm not making union wage yet, but my eyes are on the prize.
The life story is to illustrate that I am not like many of you. The idea of putting a $30,000-$40,000 down payment on a car is daunting. I may not be able to do it, and will have to settle for a cheaper trim. I'm not some rich person with their head in the clouds, unaware of the struggle that those who started from nothing have to deal with. I've set myself an ambitious goal and I hope to achieve it. I can't do that if I have no job, and a crap ton of the policies slung around Capitol Hill these days sound like they have an excellent chance of putting even me, in the skilled trades, on unemployment. "Infrastructure Bill" my ass. "Covid-19 Stimulus" my ass. 6% for Covid relief, 94% to pad rich people's pockets and grow their dependent voter base.
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