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Topic Title: Trump's tax cuts helped billionaires pay less than the working class for first time
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Created On: 10/11/2019 09:53 AM
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 10/11/2019 09:53 AM
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RustyTruck

Posts: 33300
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Trump's tax cuts helped billionaires pay less than the working class for first time

Economists calculate richest 400 families in US paid an average tax rate of 23% while the bottom half of households paid a rate of 24.2%

Thanks to the controversial tax package the top 0.1% of US households were granted a 2.5% tax cut that pushed their rate below that of the lower 50% of US earners.

Taxes on the rich have been falling for decades. In 1960 the 400 richest families paid as much as 56% in taxes, by 1980 the rate had fallen to 40%. But Trump's tax cuts - his most significant legislative victory - proved a tipping point.

...But the tax cuts have not led to a significant uptick in economic growth, hiring has slowed and wage growth has remained lackluster. In the meantime the national deficit has swollen to $1tn.

http://www.theguardian.com/bus...-billionaires-pay-less

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Capitalism is based on the ridiculous notion that you can enjoy limitless growth in a closed, finite system.

In biology, such behavior of cells is called "cancer".
 10/11/2019 10:24 AM
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tpapablo

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Originally posted by: RustyTruck Trump's tax cuts helped billionaires pay less than the working class for first time Economists calculate richest 400 families in US paid an average tax rate of 23% while the bottom half of households paid a rate of 24.2% Thanks to the controversial tax package the top 0.1% of US households were granted a 2.5% tax cut that pushed their rate below that of the lower 50% of US earners. Taxes on the rich have been falling for decades. In 1960 the 400 richest families paid as much as 56% in taxes, by 1980 the rate had fallen to 40%. But Trump's tax cuts - his most significant legislative victory - proved a tipping point. ...But the tax cuts have not led to a significant uptick in economic growth, hiring has slowed and wage growth has remained lackluster. In the meantime the national deficit has swollen to $1tn. http://www.theguardian.com/bus...-billionaires-pay-less
A lie. Cumulatively, the bottom 47% pay no federal income taxes. The bottom 50% who earn 12.75% of total earnings only pay 2.7% in total taxes. The rich pay a higher share than their numbers. The top 1% of tax payers pay 38% of all income taxes yet only have a 20% share of total income. These people are liars. Kill off the rich and we all suffer. And the only rich left will be the Bidens of the world, who steal from us.

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 10/11/2019 10:27 AM
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Pagerow

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whut...no way...



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GOP:

Gaslight
Obstruct
Project

Edited: 10/11/2019 at 10:28 AM by Pagerow


 10/11/2019 10:38 AM
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RustyTruck

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Kill off the rich and we'll all eat well. They taste fine if you slow cook and do a dry rub.



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Capitalism is based on the ridiculous notion that you can enjoy limitless growth in a closed, finite system.

In biology, such behavior of cells is called "cancer".
 10/11/2019 10:39 AM
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RustyTruck

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A searing examination of a key driver of American inequality - our tax system.

Even as they became fabulously wealthy, the rich have seen their taxes collapse to levels last seen in the 1920s. Meanwhile working-class Americans have been asked to pay more. The Triumph of Injustice is a forensic investigation into this dramatic transformation. Emmanuel Saez and Gabriel Zucman, economists who revolutionised the study of inequality, demonstrate how the super-rich pay a lower tax rate than everybody else. In crystalline prose they dissect the deliberate choices and the sins of indecision that have fuelled this trend: the gradual exemption of capital owners; the surge of a new tax-avoidance industry and, most critically, tax competition between nations.

It is not too late to change course. Instead of competition, we could choose cooperation, finding ways to create a tax regime that serves universal, democratic ends. The Triumph of Injustice offers a visionary and practical reinvention of taxes for that globalised world.

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Capitalism is based on the ridiculous notion that you can enjoy limitless growth in a closed, finite system.

In biology, such behavior of cells is called "cancer".
 10/11/2019 11:28 AM
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tpapablo

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Even as they became fabulously wealthy, the rich have seen their taxes collapse to levels last seen in the 1920s.
Lie after lie. The rich are paying more than ever. Pogs rely on you not knowing the facts. Good thing I am on this forum to set things straight.

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 10/11/2019 11:30 AM
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RustyTruck

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Your nose is growing.

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Capitalism is based on the ridiculous notion that you can enjoy limitless growth in a closed, finite system.

In biology, such behavior of cells is called "cancer".
 10/11/2019 11:56 AM
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tpapablo

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I showed the stats. Take up your argument with reality.

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 10/11/2019 01:17 PM
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wtf

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they have brainwashed tpap. dotard is going to dotard...you have not idea what stats you are quoting.

we are talking about paying a percentage of income. if i pay 30 some odd percent of my income to taxes, i fully expect billionaries to pay more, percentage wise, than me, which ain't happening bub. it's not that difficult...

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QOP = Terrorists
FK = Gay
 10/11/2019 01:51 PM
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tpapablo

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Originally posted by: wtf they have brainwashed tpap. dotard is going to dotard...you have not idea what stats you are quoting. we are talking about paying a percentage of income. if i pay 30 some odd percent of my income to taxes, i fully expect billionaries to pay more, percentage wise, than me, which ain't happening bub. it's not that difficult...
In other words, you want to raise the tax rate on capital gains. What has past experience taught us about what happens when you raise the tax on capital gains? Permit me to answer for you. You have absolutely no idea. Much less do you know that it would raise less taxes and hurt the economy and everyone who depends on it. As it is, we have one of the highest rates in the developed world. Many countries have the rate at zero. This may come as a surprise to you, but "what you expect" is not a good basis for making economic decisions. In this age of the internet and Google, there is no reason for remaining ignorant unless you choose to do so. It's not that difficult. Far to many people take that option, however, and push politicians to make stupid decisions.

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 10/11/2019 02:04 PM
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johnnyboy

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In other words? You mean your words. Facts? You mean your facts, Kellyanne.

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"One of the reasons why propaganda tries to get you to hate government is because it's the one existing institution in which people can participate to some extent and constrain tyrannical unaccountable power." Noam Chomsky.

 10/11/2019 04:21 PM
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cheaterfiveo

Posts: 5092
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Originally posted by: RustyTruck

A searing examination of a key driver of American inequality - our tax system.



Even as they became fabulously wealthy, the rich have seen their taxes collapse to levels last seen in the 1920s. Meanwhile working-class Americans have been asked to pay more. The Triumph of Injustice is a forensic investigation into this dramatic transformation. Emmanuel Saez and Gabriel Zucman, economists who revolutionised the study of inequality, demonstrate how the super-rich pay a lower tax rate than everybody else. In crystalline prose they dissect the deliberate choices and the sins of indecision that have fuelled this trend: the gradual exemption of capital owners; the surge of a new tax-avoidance industry and, most critically, tax competition between nations.



It is not too late to change course. Instead of competition, we could choose cooperation, finding ways to create a tax regime that serves universal, democratic ends. The Triumph of Injustice offers a visionary and practical reinvention of taxes for that globalised world.


Yeah America an unfair place, imagine a hateful place that allows people to pay no taxes and get thousands in a refund, how unfair, if I were you I would go to Cuba Or Venezuela where you can live in fear and squalor and whine in Spanish
 10/11/2019 07:21 PM
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Greensleeves

Posts: 20478
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Bleater5 idiotic as usual. Poor Americans pay a boatload of taxes in the form of paycheck deductions, sales tax, and numerous other bull$hit fees.
 10/11/2019 07:58 PM
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nukeh2o

Posts: 8898
Joined Forum: 03/18/2016

Originally posted by: tpapablo

Originally posted by: wtf

they have brainwashed tpap. dotard is going to dotard...you have not idea what stats you are quoting.



we are talking about paying a percentage of income. if i pay 30 some odd percent of my income to taxes, i fully expect billionaries to pay more, percentage wise, than me, which ain't happening bub. it's not that difficult...

Index other words, you want to raise the tax rate on capital gains. What has past experience taught us about what happens when you raise the tax on capital gains? Permit me to answer for you. You have absolutely no idea. Much less do you know that it would raise less taxes and hurt the economy and everyone who depends on it. As it is, we have one of the highest rates in the developed world. Many countries have the rate at zero. This may come as a surprise to you, but "what you expect" is not a good basis for making economic decisions. In this age of the internet and Google, there is no reason for remaining ignorant unless you choose to do so. It's not that difficult. Far to many people take that option, however, and push politicians to make stupid decisions.


Highly self esteemed, completely unrenowned financial scholar Professor Walter (pigblo) Mitty is squealing up a clueless botaganda storm lately...... Again
Desperately trying to lie, spin, distract.....and then: simply change the subject(!) about his beloved tangerine traitor. Again......
The chumpfscum RT troll machinery is in high gear it seems.
Of course: none of it is true
The tired old orange macdonald tactics of lie, then lie louder don't seem to be working so well. In light of his own admissions of electoral and financial fraud....
And the reported information now coming to light, from all forms of remotely legit media. Even fakes news....!? Lord loofa sounds increasingly hysterical. Lol
i have some time time, theys some little gold lame' bubbles need a bursting here
Btw: what did the piggy. squeal all the way home?


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It's a democratic hoax

Edited: 10/11/2019 at 08:00 PM by nukeh2o
 10/12/2019 04:17 AM
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fishkller

Posts: 20566
Joined Forum: 11/13/2016


No one should listen to anything Tfish has to say about taxes. He clearly has no idea how they work.

Don't forget- this is the guy that announced on NSR that he could "already see the benefit in his paycheck" of Trump's tax cut- in the middle of the year.

Yeah, that's how it works.

Please, tell us more LOL

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Edited: 10/12/2019 at 04:17 AM by fishkller
 10/12/2019 06:33 AM
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RustyTruck

Posts: 33300
Joined Forum: 08/02/2004

Originally posted by: cheaterfiveo

Yeah America an unfair place, imagine a hateful place that allows people to pay no taxes and get thousands in a refund, how unfair, if I were you I would go to Cuba Or Venezuela where you can live in fear and squalor and whine in Spanish


Venezuela is your go-to when you can't come up with an intelligent argument. I'll just stay here and watch you live in fear and squalor and whine in 7th grade English.

-------------------------
Capitalism is based on the ridiculous notion that you can enjoy limitless growth in a closed, finite system.

In biology, such behavior of cells is called "cancer".
 10/12/2019 08:46 PM
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Cole

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Much less do you know that it would raise less taxes and hurt the economy and everyone who depends on it.

Ah, the old supply side myth. The original Republican con job.

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I was right.
 10/14/2019 06:56 AM
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tpapablo

Posts: 43831
Joined Forum: 07/25/2003

Originally posted by: Cole Much less do you know that it would raise less taxes and hurt the economy and everyone who depends on it. Ah, the old supply side myth. The original Republican con job.
Born out by history. I had a chance to read over this claim a little more carefully over the weekend. The analysis included sales, real estate, SS and Medicare taxes in the calculation. Those shouldn't be included in a "tax on earnings." Take those out and the top earners pay a higher percentage. The whole thing was bogus, which is to be expected these days.

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I :heart; Q
 10/14/2019 07:29 AM
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RustyTruck

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Debunked by history, but they keep trying to convince people. If we just give everything to the rich, they will give us better scraps!

BS.



-------------------------
Capitalism is based on the ridiculous notion that you can enjoy limitless growth in a closed, finite system.

In biology, such behavior of cells is called "cancer".
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