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Topic Title: When is the best time to raise taxes?
Topic Summary: When the economy is doing well? or in a nose dive?
Created On: 04/30/2021 10:31 AM
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 04/30/2021 10:31 AM
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surfsail

Posts: 3822
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    Hearing grumbling from the right that now is not the time to raise taxes? WTF? Where's the logic there.. If so, when is a good time? After the qop has tanked the economy as usual?
    Never a prob giving the rich and corporations tax breaks and subsidies - "It's always a good time for that kind of welfare" - right... The economy and markets etc have been on the up and up since Obama became Prez and pulled us out of the ditch.. No time like the present to do this.. The 1% do not need any helping hand, only a tax increase and implementation of a way way overdue 'wealth tax'...
    This market bubble needs to burst.. High time to Increase capital gains ("lazy man tax") & eliminate corporate subsidies for all fossil fuels etc.. Increase subsidies for alternative non-fossil fuels and encourage the economy in the right future & direction.. Definitely time to pick the winners and losers - and the fossil fuel industrial complex are definitely nothing but a bunch of losers
    Government also needs to push themselves into health care much more by flat out banning shit foods like 'high fructose corn syrup' - the farmers involved may be pissed, but so were tobacco farmers, asbestos manufacturers, coal miners etc etc.. - get over it - and quit betting on losers
    'We The people' - i.e. the 'government' ultimately end up paying this bill in the long run.. "Privatize the profits and socialize the costs" - Hell yeah - well fuck that shit.. Bad is bad - period....
    High time to push a 'green' based economy, 'socialist' agenda and the 'welfare state'..


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"Just because you are paranoid does not mean that they are not after you" - Catch 22

Edited: 04/30/2021 at 10:42 AM by surfsail
 04/30/2021 11:06 AM
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tpapablo

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Never a good time. Always hurts the economy. No way to avoid it. But now that I am losing money and the gov't is giving me money, I will find a way to live with it. I need to apply for food stamps. Can you get booze with food stamps?

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 04/30/2021 11:10 AM
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tpapablo

Posts: 35140
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Damn. Looked it up. They means test SNAP. What kind of BS is that? Biden needs to fix that crap.

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 04/30/2021 01:33 PM
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johnnyboy

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now

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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.

 04/30/2021 01:53 PM
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Cole

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They should have been leveled out in Trump's second year. Trump's cuts put us in a hole we will never escape from and they did very little to help the average working American.



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So long and thanks for all the fish.
 04/30/2021 02:00 PM
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Greensleeves

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Qspank a dumbass of course. Taxe increase on the wealthy and corporations right now? No problem.

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 04/30/2021 02:08 PM
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tpapablo

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Originally posted by: Cole They should have been leveled out in Trump's second year. Trump's cuts put us in a hole we will never escape from and they did very little to help the average working American.
Tax revenues went up after Trumps's tax cuts. So they did not put us in a hole. Spending did. Didn't help the working man? Lowest unemployment in forever didn't help the working man? Wages at the lower end going up relative to the higher end for the first time in decades didn't help the working man? Cole, you are an ignoramus.

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 04/30/2021 02:20 PM
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tpapablo

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I must admit, however, I do get a kick out of you progs avidly calling for more taxes on the rich, thinking it won't affect you. Actually, tax increases on the rich will affect you idiots more than it will the rich. The capital gains revenues on the rich will decrease if they raise it to where Dementia Joe wants it. So the rich will pay less, not more. Who will pay the difference? You fools.

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 04/30/2021 05:37 PM
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Cole

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Originally posted by: tpapablo

Originally posted by: Cole

They should have been leveled out in Trump's second year. Trump's cuts put us in a hole we will never escape from and they did very little to help the average working American.


Tax revenues went up after Trumps's tax cuts. So they did not put us in a hole. Spending did. Didn't help the working man? Lowest unemployment in forever didn't help the working man? Wages at the lower end going up relative to the higher end for the first time in decades didn't help the working man? Cole, you are an ignoramus.


A 3% increase for those earning 10 bucks an hour, which is better than nothing, but unfortunately, it was all killed by Trump's lack of skill as a president. Sorry Tfap, but three quarters does not make a football game.

And taxes always increase each year, unless the country is in dire straights.



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So long and thanks for all the fish.
 04/30/2021 05:48 PM
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wtf

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trump actually campaigned that he would increase taxes for the 'rich'. He even said 'I don't mind paying more'. But we saw how that turned out. 2016 was an ideal time since Obama/Biden had the economy roaring. trump only had to ride on the coattails, but like everything he fucked that up too.

Don't listen vote for dotards, they will kill you and wreck the economy.

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QOP = Terrorists
 04/30/2021 05:49 PM
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wtf

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Originally posted by: tpapablo

I must admit, however, I do get a kick out of you progs avidly calling for more taxes on the rich, thinking it won't affect you. Actually, tax increases on the rich will affect you idiots more than it will the rich. The capital gains revenues on the rich will decrease if they raise it to where Dementia Joe wants it. So the rich will pay less, not more. Who will pay the difference? You fools.

You have not idea wtf you are talking about. You are the fool.

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QOP = Terrorists
 05/01/2021 04:45 AM
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Cole

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What the difference between a tax cut and giving back the money taken in taxes?

But to be fair, you would have to give more to the poor to equal the amount give to the wealthy.

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So long and thanks for all the fish.
 05/01/2021 05:12 AM
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RustyTruck

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When the middle class was the strongest it's ever been the top rates were like 80%.




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 05/01/2021 01:24 PM
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johnnyboy

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http://www.brookings.edu/polic...s-act-pay-for-itself/

"The TCJA did not pay for itself, nor is it likely to do so in the future. There are many debates to have about the TCJA, but whether it raised or reduced revenues in 2018 should not be one of them."

There's no fool like an old fool. Tpap, you're too old to keep believing in the fairytale that tax cuts pay for themselves.



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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.

 05/01/2021 01:59 PM
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surfsail

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'Happy Days' time with the Fonz etc - mid 50's the middle class was doing good - so were the unions - an the top rate was like ~95% on top dollar.. Heath care also did not cost anything like it does now.. Bend over Rover - and bring the KY!! Tax man coming for you!!! Open wide!! Say.. "ahhhhhhh"...

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"Just because you are paranoid does not mean that they are not after you" - Catch 22
 05/01/2021 02:35 PM
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crankit

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Federal Income Tax Brackets (Tax Year 1955) ARCHIVES
Tax Bracket Tax Rate
$0.00+ 20% $2,000.00+ 22% $4,000.00+ 26% $6,000.00+ 30%

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"Freedom is never more than one generation away from extinction. We didn't pass it to our children in the bloodstream. It must be fought for, protected, and handed on for them to do the same."
 05/01/2021 03:42 PM
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theglide

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The best time to raise taxes is when tpap gets a raise!

I kid.......

Edited: 05/01/2021 at 03:43 PM by theglide
 05/05/2021 07:35 AM
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surfsail

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    https://www.politifact.com/factchecks/2009/oct/02/michael-moore/michael-moores-film-capitalism-claims-richest-paid/
    *************.
    ....."Considering that the top marginal tax rate for the wealthiest Americans today is 35 percent, that figure seems astounding. But it's true that in the 1950s, the top marginal tax rates were over 90 percent......"
    ,,..."So in 1955, for example, when the top marginal tax rate was 91 percent, that was the tax rate owed on a person's income over $300,000. That person would, however, pay 20 percent on the first $2,000 of income; 21 percent on the next $2,000 in income; 24 percent on the next $2,000 and graduated on up to the highest rate. On average, a person making, say, $500,000 would pay substantially less than 90 percent of their income in federal taxes.".....
    ***********
    We are not talking 'average' tax rates but 'marginal' ('top dollar') tax rates..
    The threshold back then was about 300$k.. even if you raised this to 10 mil, the 'billionaires' would be effectively paying most of their taxes at the top dollar rates..
    The current level of income disparity did not exist in the 50's.. Not many were in the 300k$ category.. Different nowadays even if you adjust the 300k for inflation..For someone with an income of 100$ mil, their effective/average rate would be getting pretty close to 90%


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"Just because you are paranoid does not mean that they are not after you" - Catch 22

Edited: 05/05/2021 at 07:43 AM by surfsail
 05/05/2021 08:08 AM
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tpapablo

Posts: 35140
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Originally posted by: surfsail
    https://www.politifact.com/factchecks/2009/oct/02/michael-moore/michael-moores-film-capitalism-claims-richest-paid/
    *************.
    ....."Considering that the top marginal tax rate for the wealthiest Americans today is 35 percent, that figure seems astounding. But it's true that in the 1950s, the top marginal tax rates were over 90 percent......"
    ,,..."So in 1955, for example, when the top marginal tax rate was 91 percent, that was the tax rate owed on a person's income over $300,000. That person would, however, pay 20 percent on the first $2,000 of income; 21 percent on the next $2,000 in income; 24 percent on the next $2,000 and graduated on up to the highest rate. On average, a person making, say, $500,000 would pay substantially less than 90 percent of their income in federal taxes.".....
    ***********
    We are not talking 'average' tax rates but 'marginal' ('top dollar') tax rates..
    The threshold back then was about 300$k.. even if you raised this to 10 mil, the 'billionaires' would be effectively paying most of their taxes at the top dollar rates..
    The current level of income disparity did not exist in the 50's.. Not many were in the 300k$ category.. Different nowadays even if you adjust the 300k for inflation..For someone with an income of 100$ mil, their effective/average rate would be getting pretty close to 90%
In the 50's something like 10 people paid the 90% rate. There were a lot more deductions back then. So, the average rate for high earners was about where it is now. No one in their right mind would stand for paying 90%. Ask the Rolling Stones.

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I :heart; Q
 05/05/2021 08:15 AM
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tpapablo

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Originally posted by: theglide The best time to raise taxes is when tpap gets a raise! I kid.......
Not going to happen. As I have said, I am losing money hand over fist. It's just terrible what Biden has done to me. But, at least I don't have to worry about any tax increases and should be getting some money from the gov't. If you can't beat them, join them. Being poor ain't so bad.

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I :heart; Q
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