United States Is Going Off The Deep End To The Right

[Bigbrog]

6 hours ago, RockLobster said:

Not projection at all. That was an incredibly lazy and inaccurate post by you.

I was commenting on another poster's capability to be a better poster (which I believed then, and still do, to be true.) IMO, that particular poster seems to have the potential to provide contributions here.

Who am I to judge? I'm nobody to judge. I'm not a judge. But I am expressing my opinion. (I get to do that.)

I'm interacting with other posters and sharing my opinions as is how discussion groups work.

Mspart - get off your high horse. Engage in the conversation like a participant or don't.

Either way, nobody needs you to judge me or anyone else here.

Wow...I can't stand the utter arrogant hypocrisy of your posts...man...you are a true whackadoodle.   You, of ALL people, should never, EVER, lecture someone on how to post nor tell them to "get off their high horse" and "stop judging".  These posts are exactly why EVERONE thinks you are a freaking clown of a poster.

[red viking]

20 hours ago, mspart said:

Hi RV, you could have just posted this rather than link to it but it helps make my point.  Tax rates went down from 1962 to today generally.  

 But look at the revenues since 1962:

Please note that 2023 is at the left and 1962 is at the right.    I got this data from https://www.thebalancemoney.com/current-u-s-federal-government-tax-revenue-3305762

Revenues went up as tax rates went down.   Funny how that works. 

mspart

More misleading posts from the right. Revenue only went up because of inflation. See https://fred.stlouisfed.org/series/FYFRGDA188S. Long term trend is down since 2020. 

[red viking]

https://www.forbes.com/sites/taxnotes/2023/03/20/are-the-superrich-more-burdened-and-paying-the-highest-tax-rates/

 

As a group, the rich had 10.1 percent of total AGI and paid 20.4 percent of total federal individual income tax. Meanwhile, the superrich had 6.5 percent of total AGI and paid 12.3 percent of total federal income tax. The rich had an average AGI of $2.2 million with federal income tax equal to 27.5 percent of AGI, while the superrich had an average AGI of $31 million with an average tax rate that was 2 percentage points lower than that of the rich, that is, 25.5 percent. So even though federal income tax is progressive throughout most income levels, it turns out that it isn’t progressive at the highest level. This is illustrated in Figure 1.

[Bigbrog]

14 minutes ago, red viking said:

https://www.forbes.com/sites/taxnotes/2023/03/20/are-the-superrich-more-burdened-and-paying-the-highest-tax-rates/

 

As a group, the rich had 10.1 percent of total AGI and paid 20.4 percent of total federal individual income tax. Meanwhile, the superrich had 6.5 percent of total AGI and paid 12.3 percent of total federal income tax. The rich had an average AGI of $2.2 million with federal income tax equal to 27.5 percent of AGI, while the superrich had an average AGI of $31 million with an average tax rate that was 2 percentage points lower than that of the rich, that is, 25.5 percent. So even though federal income tax is progressive throughout most income levels, it turns out that it isn’t progressive at the highest level. This is illustrated in Figure 1.

You do know how percentage of income works, right??

[red viking]

9 minutes ago, Bigbrog said:

You do know how percentage of income works, right??

Yes, so there's zero excuse for the uber-rich to be paying a lower tax rate than the rich. YOu can't make this stuff up. It's absolutely crazy and proof that we are living in an age where we've gone off the cliff fiscally to the right. 

[Bigbrog]

1 minute ago, red viking said:

Yes, so there's zero excuse for the uber-rich to be paying a lower tax rate than the rich. YOu can't make this stuff up. It's absolutely crazy and proof that we are living in an age where we've gone off the cliff fiscally to the right. 

So you do realize that a lower percentage of a much higher number can equal more overall tax money, right?!?!

[red viking]

7 minutes ago, Bigbrog said:

So you do realize that a lower percentage of a much higher number can equal more overall tax money, right?!?!

That''s extremely simple math so yes, but the % should also be higher. Unbelievable that you are dismissive of that. 

[JimmyBT]

1 hour ago, red viking said:

https://www.forbes.com/sites/taxnotes/2023/03/20/are-the-superrich-more-burdened-and-paying-the-highest-tax-rates/

 

As a group, the rich had 10.1 percent of total AGI and paid 20.4 percent of total federal individual income tax. Meanwhile, the superrich had 6.5 percent of total AGI and paid 12.3 percent of total federal income tax. The rich had an average AGI of $2.2 million with federal income tax equal to 27.5 percent of AGI, while the superrich had an average AGI of $31 million with an average tax rate that was 2 percentage points lower than that of the rich, that is, 25.5 percent. So even though federal income tax is progressive throughout most income levels, it turns out that it isn’t progressive at the highest level. This is illustrated in Figure 1.

45% pay zero income tax. 

[red viking]

25 minutes ago, JimmyBT said:

45% pay zero income tax. 

They pay other taxes though, so your statement is misleading. 

[JimmyBT]

34 minutes ago, red viking said:

They pay other taxes though, so your statement is misleading. 

Everyone else pays other taxes too. Along with their income tax soooooooo 

[red viking]

4 minutes ago, JimmyBT said:

Everyone else pays other taxes too. Along with their income tax soooooooo 

The uber-wealthy need to pay their fair share, which should be a MUCH higher % than the rich or middle class. It's that simple. They're making ALL of their money off of others and it does almost zero benefit to the economy to allow them to merely stash their cash, which is basically what they do. 

[JimmyBT]

1 minute ago, red viking said:

The uber-wealthy need to pay their fair share, which should be a MUCH higher % than the rich or middle class. It's that simple. They're making ALL of their money off of others and it does almost zero benefit to the economy to allow them to merely stash their cash, which is basically what they do. 

Everyone should pay something. Flat tax is the way to go.  

[red viking]

2 minutes ago, JimmyBT said:

Everyone should pay something. Flat tax is the way to go.  

Not all all. that would be a disaster. The poor actually need their money and they spend it. The rich merely stash their money away and pass it on to their kids. Our tax system isn't progressive enough. 

Also, almost everybody does pay income tax even if it isn't called that, because they pay into social security and Medicare. Those are such huge portions of our federal budget that I'd actually say that you are LYING. 

NEVER ASSUME THAT A WINGER IS TELLING THE TRUTH

[JimmyBT]

1 minute ago, red viking said:

Not all all. that would be a disaster. The poor actually need their money and they spend it. The rich merely stash their money away and pass it on to their kids. Our tax system isn't progressive enough. 

Also, almost everybody does pay income tax even if it isn't called that, because they pay into social security and Medicare. Those are such huge portions of our federal budget that I'd actually say that you are LYING. 

NEVER ASSUME THAT A WINGER IS TELLING THE TRUTH

Everyone pays into SS and Medicare. Most get back nothing in comparison to what they would have if they were allowed to invest it on their own instead of the government taking it.  People need to learn how to invest and stay off of credit if they ever want to create their own wealth.  Excuses get you nothing. But you already know that.  

[WrestlingRasta]

10 minutes ago, red viking said:

 They're making ALL of their money off of others  

Not a big fan of this mentality.  The Uber rich are so because they put themselves in a position to hire others, or acquire a lot of money through their services or entertainment.  In doing so, they are providing our society with services, goods, products, entertainment, etc. 

[JimmyBT]

6 minutes ago, red viking said:

Not all all. that would be a disaster. The poor actually need their money and they spend it. The rich merely stash their money away and pass it on to their kids. Our tax system isn't progressive enough. 

Also, almost everybody does pay income tax even if it isn't called that, because they pay into social security and Medicare. Those are such huge portions of our federal budget that I'd actually say that you are LYING. 

NEVER ASSUME THAT A WINGER IS TELLING THE TRUTH

Ok comrade.  We’re at almost 50% paying zero income tax.  Soon that number will be over the halfway mark.  

[WrestlingRasta]

14 minutes ago, red viking said:

The rich merely stash their money away and pass it on to their kids  

You have a tendency to group a large number of people into one characteristic. Would it interest you to take thirty minutes to research the amount of charitable donations that are provided by ‘the rich’ each year?  Or how about the amount ‘the rich’ reinvest into other ventures each year, ventures that create more jobs, goods, and services.  Serious question, are you at all interested in educating yourself in those areas? 

[red viking]

14 minutes ago, JimmyBT said:

Everyone pays into SS and Medicare. Most get back nothing in comparison to what they would have if they were allowed to invest it on their own instead of the government taking it.  People need to learn how to invest and stay off of credit if they ever want to create their own wealth.  Excuses get you nothing. But you already know that.  

What a dumb statement. Many people don't have the additional income to invest and are spending everything they have for a 2-bedroom apartment for their family of five and eating macaroni & cheese for dinner every night. 

Living in the bubble...it must be great. 

[red viking]

3 minutes ago, WrestlingRasta said:

You have a tendency to group a large number of people into one characteristic. Would it interest you to take thirty minutes to research the amount of charitable donations that are provided by ‘the rich’ each year?  Or how about the amount ‘the rich’ reinvest into other ventures each year, ventures that create more jobs, goods, and services.  Serious question, are you at all interested in educating yourself in those areas? 

It isn't nearly enough to take care of the poor. Not even remotely close. 

[JimmyBT]

3 minutes ago, red viking said:

What a dumb statement. Many people don't have the additional income to invest and are spending everything they have for a 2-bedroom apartment for their family of five and eating macaroni & cheese for dinner every night. 

Living in the bubble...it must be great. 

And a beautiful self made bubble it is too. 

Edited July 10 by JimmyBT

[JimmyBT]

1 minute ago, red viking said:

It isn't nearly enough to take care of the poor. Not even remotely close. 

And without it ???? 

[WrestlingRasta]

1 minute ago, red viking said:

It isn't nearly enough to take care of the poor. Not even remotely close. 

How much it would take to take care of the poor has nothing to do with my response to you, and the statement of yours I quoted.  Since you made the statement that  all “the rich do is stash their money away and passed it on to their kids”, I will repeat the same question.  Is that something you are interested in addressing, or do you not care to because it may go against your idea? 

[red viking]

3 minutes ago, JimmyBT said:

And without it ???? 

It's a drop in the bucket compared to tax revenue. Even though our tax revenue needs to be MUCH higher after the rich pay their fair share. 

[red viking]

2 minutes ago, WrestlingRasta said:

How much it would take to take care of the poor has nothing to do with my response to you, and the statement of yours I quoted.  Since you made the statement that  all “the rich do is stash their money away and passed it on to their kids”, I will repeat the same question.  Is that something you are interested in addressing, or do you not care to because it may go against your idea? 

Obviously there are exceptions but what I said is basically true. They stash almost all of it away; at least the portion they don't spend on themselves and their maids. 

[JimmyBT]

Just now, red viking said:

It's a drop in the bucket compared to tax revenue. Even though our tax revenue needs to be MUCH higher after the rich pay their fair share. 

We have plenty of money. Stop wasting it would be much more effective.