Individual-1 (Donald Trump)

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shaft.ed
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Post Post #19150  (ISO)  » Fri Feb 01, 2019 9:14 pm

In post 19148, Slaxx wrote:
In post 19146, Psyche wrote:creature is worse


I’d argue he’s just worse because he’s better

do you have any idea how many times marginal tax rates have been described to Creature?

Psyche
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Post Post #19151  (ISO)  » Fri Feb 01, 2019 9:22 pm

if a kid eats ten cookies and you tell them they can't have any more cookies unless they share half the further cookies with everyone else, is that a punishment?
even simplifying things, if a kid gets 10 cookies and you tell them to share some of those with everyone else, is that a punishment to the kid for getting cookies?
what do words even mean
i have seen a man throw up such that the impact knocked another man unconscious

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Post Post #19152  (ISO)  » Fri Feb 01, 2019 9:26 pm

In post 19151, shaft.ed wrote:
In post 19148, Slaxx wrote:
In post 19146, Psyche wrote:creature is worse


I’d argue he’s just worse because he’s better

do you have any idea how many times marginal tax rates have been described to Creature?


Uh

Four?

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Post Post #19153  (ISO)  » Fri Feb 01, 2019 9:31 pm

btw hi slaxx aint seen you in a while pls stay also how did you know about gabbard where do you get news
i have seen a man throw up such that the impact knocked another man unconscious

Creature
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Post Post #19154  (ISO)  » Fri Feb 01, 2019 9:32 pm

In post 19142, shaft.ed wrote:
In post 19132, YellowSnow wrote:Historically communist nations have a history of falling on itself while capitalist nations grow exponentially.

and who is asking for communism?

such boring discussions anymore

Glad it's the mentally sane that are here.
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Creature
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Post Post #19155  (ISO)  » Fri Feb 01, 2019 9:34 pm

In post 19145, Slaxx wrote:Tulsi is expected to drop out Creature :P

Campaign manager on the way out rumor has it

Oh, Tulsi had me interested.
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Slaxx
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Post Post #19156  (ISO)  » Fri Feb 01, 2019 10:04 pm

In post 19154, Psyche wrote:btw hi slaxx aint seen you in a while pls stay also how did you know about gabbard where do you get news


I saw it on 538. They discussed what each potential candidate was doing.

They sourced from WaPo I thiiink but not for sure.

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Post Post #19157  (ISO)  » Fri Feb 01, 2019 10:05 pm

In post 19156, Creature wrote:
In post 19145, Slaxx wrote:Tulsi is expected to drop out Creature :P

Campaign manager on the way out rumor has it

Oh, Tulsi had me interested.

Also good to see you Psyche!

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Post Post #19158  (ISO)  » Fri Feb 01, 2019 10:05 pm

No clue why I quoted that.

Maruchan
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Post Post #19159  (ISO)  » Fri Feb 01, 2019 10:55 pm

In post 19114, Creature wrote:I would be pretty pissed if I was being taxed more than 70% of my income.

70% marginal tax bracket for income over 10 million dollars will never mean you are taxed 70 of your income.

do we need to rehash marginal tax brackets?

Also, would you be pissed that you can only buy 10 megayachts, instead of 35? I thought you just recently said you thing that is excessive?
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Maruchan
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Post Post #19160  (ISO)  » Fri Feb 01, 2019 10:57 pm

In post 19126, Creature wrote:
In post 19124, Slaxx wrote:
In post 19122, Creature wrote:
In post 19118, Psyche wrote:
In post 19114, Creature wrote:I would be pretty pissed if I was being taxed more than 70% of my income.

the proposed 70% rate is marginal
do you know what that means

Yes, profit. I don't think anyone would have a 10 million dollars wage anyway.


Which is why capital gains tax needs reformed too. Put it in brackets.

Considering I could've gained a profit of 10 million dollars, losing 7 million is already pretty saddening. Increase that ammount and you'll see good people giving up about growing their business while bad people finding ways to tax fraud.

if you make 10 million dollars

you
wont
lose
7
million.


that is not how this thing works. We ALREADY discussed this.
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Maruchan
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Post Post #19161  (ISO)  » Fri Feb 01, 2019 11:03 pm

In post 19161, Maruchan wrote:
In post 19126, Creature wrote:[..]Considering I could've gained a profit of 10 million dollars, losing 7 million is already pretty saddening. Increase that ammount and you'll see good people giving up about growing their business while bad people finding ways to tax fraud.
[..]We ALREADY discussed this.

In post 50380, Maruchan wrote:
In post 50309, T-Bone wrote:
In post 50304, Creature wrote:
In post 50293, T-Bone wrote:No I mean this. Creature, there is this new law of a 70% marginal tax rate in place. You make 10 million dollars this year. Give me a ballpark, how much of that money are you paying to the government in taxes?

7 million.


I understand why you think that because 70% of 10 million is 7 million.

However, the first 10 million dollars of your income is not taxed at 70%. The first 15,000 dollars you make have zero taxes. From 15k to 75k is like 10%. From 75 to 125k is like 12.5%. From there to 250k, it's about 15%. From there to a million its 17.5%. After a million is 20%. When you get to the higher tax bracket, new taxes aren't taken out of the money you've already made.

So in my example, someone who makes 10 million dollars a year keeps 8.5 million of it.

(Please note I am ball parking it, not using exact numbers)

I'm going to use exact numbers because I can't believe how many times I have to explain this for him to not get it.


Brackets here: https://www.nerdwallet.com/blog/taxes/f ... -brackets/
for a person that makes 100,000,000 under the current tax bracket:
First 9,525 government takes 10% (952.5)
Next 29,175 government takes 12% (3,501)
Next 43,800 government takes 22% (9,636)
Next 75,000 government takes 24% (18,000)
Next 42,500 government takes 32% (13,600)
Next 300,000 government takes 35% (105,000)
next 999,500,000 government takes 37% (36,815,000)

So, if you made $100 Million in Federal Income, you would have paid $36,965,689.50 in Federal Income Tax, meaning you still had $63 Million Dollars.

That's our current tax setup. Lets add a SINGLE marginal tax bracket of 70% Income Tax over 10,000,000 and see how that would affect it:
First 9,525 government takes 10% (952.5)
Next 29,175 government takes 12% (3,501)
Next 43,800 government takes 22% (9,636)
Next 75,000 government takes 24% (18,000)
Next 42,500 government takes 32% (13,600)
Next 300,000 government takes 35% (105,000)
Next 9,500,000 government takes 37% (3,515,000)
Next 90,000,000 government takes 70% (63,000,000)

Leaving you after earning 100,000,000 Income, paid 66,665,689.50 in taxes, a TOTAL AMOUNT ADDED TO YOUR BANK ACCOUNT: $33 Million.


Please tell me how you are making them less rich?

If you make $10,000,001 with a 70% marginal tax bracket at 10 million dollars, you will pay $3,665,670.20. Not $7 million. $3.6 million.

Please

quit

misunderstanding
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McMenno
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Post Post #19162  (ISO)  » Fri Feb 01, 2019 11:44 pm

For billionaires, I like a "head tax" more
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Ginngie
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Post Post #19163  (ISO)  » Sat Feb 02, 2019 1:24 am

In post 19103, YellowSnow wrote:liberals do want to tax the rich, if they could have a 20% tax on millionaires and have it signed into law they would, why don't they just admit it?

you mean when they announce estate taxes, 70% progressive tax plans, 1-2% assets tax.


A lot is actually being talked about???
"Hey Maria what happened to your mafia team"

"Oh nothing much they just got culted and alignment swapped all in a days work in Ginngie mafia"

IceGuy
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Post Post #19164  (ISO)  » Sat Feb 02, 2019 3:59 am

In post 19141, Slaxx wrote:No, they should just actually staff the IRS and focus on getting money from the wealthy people who owe it.


The IRS or the equivalent in other countries only enforces laws. The problem is in the laws themselves, which essentially allow the rich to dodge taxes legally using complicated, multi-country structures, while the average wage-earner has little to no possibilities to influence their taxes. Better enforcement won't help, better laws and treaties would.

talah
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Post Post #19165  (ISO)  » Sat Feb 02, 2019 5:58 am

In post 19119, YellowSnow wrote:I meant a 20 percent higher tax and I think that was pretty clear.

Just reading along and it wasn't clear at all, and this very opaque statement clarifies the... uh... specific gravity of clarity initially given.

20 percent higher than what?

Is it okay if really poor people get taxes 20 percent lower than whatever your current level is?

What if really poor people's taxes then go down to zero just because of mathematics? Isn't that a bit of a cruel joke? Pay them nothing and say "well you're not getting taxed, hue".

In the meantime your class of chosen crusaders are simply being asked to restore some kind of balance while they have no worries at all owning a car, eating every day, buying their favourite wine whenever they like and generally living it up without much distress or fear at all?

(anyway, please ignore this, with the exception of YellowSnow - I am 3 pages behind and was triggered by 5 or so posts from them)

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Post Post #19166  (ISO)  » Sat Feb 02, 2019 7:09 am

In post 19166, talah wrote:
In post 19119, YellowSnow wrote:I meant a 20 percent higher tax and I think that was pretty clear.

20 percent higher than what?


yes

talah
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Post Post #19167  (ISO)  » Sat Feb 02, 2019 7:22 am

In post 19167, rb wrote:
In post 19166, talah wrote:
In post 19119, YellowSnow wrote:I meant a 20 percent higher tax and I think that was pretty clear.

20 percent higher than what?


yes

per rb's affirmation, pls answer the semi-rhetorical question, stat.

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Post Post #19168  (ISO)  » Sat Feb 02, 2019 8:31 am

In post 19162, Maruchan wrote:If you make $10,000,001 with a 70% marginal tax bracket at 10 million dollars, you will pay $3,665,670.20. Not $7 million. $3.6 million.

Please

quit

misunderstanding

My point still stands if we consider the 10 million dollars the excedent.
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talah
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Post Post #19169  (ISO)  » Sat Feb 02, 2019 8:43 am

Your point is actually nothing so it cannot stand.

If I am mistaken, please re-state your point.
Last edited by talah on Sat Feb 02, 2019 8:45 am, edited 1 time in total.

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Post Post #19170  (ISO)  » Sat Feb 02, 2019 8:48 am

In post 19102, Creature wrote:There should be a balance. Progressive tax is okay as long it doesn't get to the point of hindering the economy.
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talah
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Post Post #19171  (ISO)  » Sat Feb 02, 2019 9:04 am

Mokay, then you're saying that taxing people who lodge net earnings of more than a million bucks a year more than 20% higher than they already get taxed right now would have some less-than-negligible, negative, impact on the economy.

Glad I'm in the presence of a mental giant.

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Post Post #19172  (ISO)  » Sat Feb 02, 2019 12:09 pm

In post 19114, Creature wrote:I would be pretty pissed if I was being taxed more than 70% of my income.


Didn't we ALREADY go over this? I thought you finally understood what a marginal tax is?
Trying the Twitch thing out, help me get to 50!

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Post Post #19173  (ISO)  » Sat Feb 02, 2019 12:12 pm

In post 19126, Creature wrote:
In post 19124, Slaxx wrote:
In post 19122, Creature wrote:
In post 19118, Psyche wrote:
In post 19114, Creature wrote:I would be pretty pissed if I was being taxed more than 70% of my income.

the proposed 70% rate is marginal
do you know what that means

Yes, profit. I don't think anyone would have a 10 million dollars wage anyway.


Which is why capital gains tax needs reformed too. Put it in brackets.

Considering I could've gained a profit of 10 million dollars, losing 7 million is already pretty saddening. Increase that ammount and you'll see good people giving up about growing their business while bad people finding ways to tax fraud.


We literally went over this. A 70% marginal rate on 10 million dollars does not mean that you are taxed 7 million dollars.
Trying the Twitch thing out, help me get to 50!

"Playing in a Newbie game doesn't count" ~ PenguinPower, Feb 2019

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Post Post #19174  (ISO)  » Sat Feb 02, 2019 12:14 pm

I think it’s hilarious we even have to discuss whether to feel sorry for someone that gets to keep $3 million dollars while Americans dig themselves into debt to pay for tuition and live shorter lives because of poor access to healthcare.

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