Individual-1 (Donald Trump)

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YellowSnow
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Post Post #19100  (ISO)  » Fri Feb 01, 2019 8:05 pm

I would support a flat tax, yes, but I doubt that would be approved.

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Post Post #19101  (ISO)  » Fri Feb 01, 2019 8:08 pm

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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Post Post #19102  (ISO)  » Fri Feb 01, 2019 8:11 pm

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?

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Post Post #19103  (ISO)  » Fri Feb 01, 2019 8:14 pm

You mean someone with an income of 1 million+?
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Post Post #19104  (ISO)  » Fri Feb 01, 2019 8:15 pm

yes.

Slaxx
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Post Post #19105  (ISO)  » Fri Feb 01, 2019 8:16 pm

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.


I’d argue the current tax rate is hindering the economy. Not the stock market but the health of the nation overall. Eventually your middle class burns through discretionary income.

And... I don’t even know what yellow snow is on about. Our top bracket is higher than 20%.

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Post Post #19106  (ISO)  » Fri Feb 01, 2019 8:17 pm

I was talking about in addition to the current tax code.

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Post Post #19107  (ISO)  » Fri Feb 01, 2019 8:20 pm

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?


1. An income of 1m a year isn't "just" a millionaire. Someone making 80k a year can become a millionaire eventually. A million a year is pretty darn high.
2. The top tax bracket, passed by a Republican Senate, House and President is 37%. They don't get taxed that much, mind you, but the idea that liberals are secretly plotting to tax the rich a bit is false because it's overt, and I don't think anyone would apologize for that.
.

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Post Post #19108  (ISO)  » Fri Feb 01, 2019 8:23 pm

they're not secretly plotting it they overtly desire it.

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Post Post #19109  (ISO)  » Fri Feb 01, 2019 8:25 pm

Yes, that's what I'm saying. You said "why won't they just admit it" as if they're hiding the ball. No one is doing that.
.

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Post Post #19110  (ISO)  » Fri Feb 01, 2019 8:29 pm

The people who make that much have made it off the backs of working class people pretty much every time.

And that’s fine, society shouldn’t be inherently equal.

But I don’t see how it’s only thieving when the poor do it to the rich, but when the rich slowly erode away safety nets, worker rights, and a thriving middle class it’s all the sudden justified.

Real wages have fallen so much while the top bracket continues to explode with growth. Most families have two people working a job to get by, and the fact they have an iPhone and a fridge does not make up for that.

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Post Post #19111  (ISO)  » Fri Feb 01, 2019 8:30 pm

Because of statements like "no one wants to punish the rich".

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Post Post #19112  (ISO)  » Fri Feb 01, 2019 8:31 pm

Eventually this is going to collapse in on itself, as the more strapped the middle class is the harder companies have to work to get their products out the door. Progressive tax isn’t a penalty it’s an investment in the workforce and insurance against civil upending.

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Post Post #19113  (ISO)  » Fri Feb 01, 2019 8:32 pm

I would be pretty pissed if I was being taxed more than 70% of my income.
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Post Post #19114  (ISO)  » Fri Feb 01, 2019 8:32 pm

a 20% tax isn't a punishment
a 120% tax would be a punishment
we all fall short of god's glory

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Post Post #19115  (ISO)  » Fri Feb 01, 2019 8:33 pm

In post 19112, YellowSnow wrote:Because of statements like "no one wants to punish the rich".


It’s not a penalty, it’s taxes. They’re still making plenty of money, I promise. No one is living on the margins at $1mil a year.

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Post Post #19116  (ISO)  » Fri Feb 01, 2019 8:33 pm

In post 19112, YellowSnow wrote:Because of statements like "no one wants to punish the rich".


It isn't punishing the rich to progressively tax their earnings. Given you stated a 20% tax on someone making a million dollars as something absurd, I think we might have to review how marginal tax rates work: you understand that earning more money doesn't end up in you ever having less money because of taxes, right?
.

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Post Post #19117  (ISO)  » Fri Feb 01, 2019 8:33 pm

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
we all fall short of god's glory

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Post Post #19118  (ISO)  » Fri Feb 01, 2019 8:34 pm

I meant a 20 percent higher tax and I think that was pretty clear.

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Post Post #19119  (ISO)  » Fri Feb 01, 2019 8:34 pm

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


They’re only taxed that rate once they hit that bracket.

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Post Post #19120  (ISO)  » Fri Feb 01, 2019 8:36 pm

Also, since the last tax overhaul the stock market has been sideways. It’s all a house of cards if the average American isn’t able to get by and have a little extra, and it always will be.

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Post Post #19121  (ISO)  » Fri Feb 01, 2019 8:38 pm

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.
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Post Post #19122  (ISO)  » Fri Feb 01, 2019 8:39 pm

Unemployment is at a historical low, don't you think having a job helps your income?

Slaxx
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Post Post #19123  (ISO)  » Fri Feb 01, 2019 8:39 pm

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.

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Post Post #19124  (ISO)  » Fri Feb 01, 2019 8:40 pm

In post 19123, YellowSnow wrote:Unemployment is at a historical low, don't you think having a job helps your income?


Lol

If that job isn’t even enough for you to get by or actually build wealth, then no, it doesn’t matter does it? Which is my point about wage disparity.

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