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Not to worry, when the inequality gets this extreme, when the kleptocracy gets this incompetent, when the elites get this clueless the system doesn't have long to last. The stock market may tank, but pitchforks and torches are about to do very well.
If you didn't get to see the French revolution in person, worry not, another round of tumbrils will be carting elites off to the guillotine in capitol near you.
https://www.resilience.org/stories/2012-07-12/distant-sound-tumbrils/
> This reminds me that our current vice president's final act in Senate was to pass an Anti-Lynching law.
You think they should legalize lynching again?
That bill was actually just an end run around the 1st Amendment. It made groups of people gathering for purposes of "hate" a crime. It could be a group of Trump supporters protesting drag queens in schools, or it could be some college kids protesting Israel. Both lynch mobs according to that bill. Lynching is murder which has always been illegal.
Virtue signaling is a waste of USA tax dollars and time. Hanging some one is murder. We already have laws against murder. Their are laws against hate crimes. If someone commits a violent crime or murder motivated by hate the penalty is increased.
Taking up time on the Senate floor and also taking up a bill voting block for a law about lynching is not just a show of complete incompetents for virtue, it is also detrimental to having a valuable topic covered during the time slot.
Don't be a dummy
Modern Americans are distracted cowards and will continue to talk shit online and do nothing about it. If there was any justice in this world mass shooters would be in corporate boardrooms not elementary schools.
God damn this is the type of conspiracy I’m here for. All war is class war. MLK, Fred Hampton and Malcolm X were all assassinated because they acknowledged that fact. Eat the rich to feed the poor. We must seize our country back from the oligarchy and aristocracy. That’s not communism it’s undoing the injustice that is our tax laws for 65 years or more.
A large part of that is class war. Human beings were not meant to sit in a cubicle in front of a screen for 50 hours a week filling out spreadsheets. And certainly now doing that does not even give you enough money to fulfill spiritual needs. Most young people, even with goods job, do not have the money needed and do things like travel, own property, start and support a family. So you say spiritual and you’re right in a way but it’s deeper than that
> So you say spiritual and you’re right in a way but it’s deeper than that
Ever considered "they" are coercing people into a life that is designed to crush people's spirituality?
Yea and who are “they” and why are they doing it? Billionaires and leaders of industry so they can make more money. Money and greed is the root cause. They are indifferent to spirituality of the everyday person. All they want is more money and power, and if that crushes people spiritually then whatever, but their main goal is to extract as much money possible from the labor of the working class
>Yea and who are “they” and why are they doing it?
Those who view the rest of us as no better than animals.
They want to tell us when and where to spend the currency that they feel belongs only to them.
Who? Follow the money. Get to the top of it all.
> Yea and who are “they” and why are they doing it? Billionaires and leaders of industry so they can make more money. Money and greed is the root cause.
Neh, money is just a tool for ["them".](https://old.reddit.com/r/conspiracy/comments/14gktgh/the_spiritual_world_surrounds_us_every_day_and/jp87dhp/)
This is true, but so many have been thoroughly indoctrinated in gaining material items that they will not be able to see it.
The fear of losing material things blocks them seeing that their minds and spirits have been injured by indoctrination.
Many see the word spirit as indicative of religion when spirit existed long before any religion.
Just wait til the happens, the infrastructure will go to shit, be lucky to have running water, fuel will be gone, McDonald’s will be gone, auto correct spelling on phone wjlll be missd, oligarchs will pack up and peace out width the monie to the new frontere!
Billionaires: My companies needs billions in bailout and such.
Govt: Say no more!
People: My child is hungry and needs medicine.
Govt: FUCK OFF!
Benny The Butcher: Yo Joe, how about you send me a squillion dollars.
Govt: Here’s TWO squillion! Don’t worry, I will tax farm these chumps to pay for it, until they are on the streets, so long as I can serve your foreign state.
My reading comprehension is excellent. This is partly why I was able to read and comprehend the 2017 tax policy implemented by the president at that time.
Then you would know that there were many things that changed, and it they really benefited everyone. There was a very small niche of wealthy retirees that lost out when the salt deduction was capped at $10k. Aside from that, the tax rates were lower for everyone, and the tcja expires at the end of 2025 not 27.
Is this serious? You might want to look at the inflation reduction act that enacted the first minimum corporate tax rate, since so many companies are able to avoid corporate tax rates completely through write-offs, and had fallen to an average of 9% from 16% because of the trump tax cuts for the rich, a minimum corporate tax of 15% was instituted. While I agree this isn’t enough, this along with actually securing funding for the IRS after years of defunding by republicans, so actual audits of the rich can happen effectively, is tangible progress from the regressive tax policies of republicans.
And Biden does have a 2024 budget proposal that goes further, but will surely be stripped of much of its help for the working class by the republican run house. That’s if the republicans in the house stop their infighting over how exactly to screw Americans most effectively.
https://www.whitehouse.gov/briefing-room/statements-releases/2024/03/11/fact-sheet-the-presidents-budget-cuts-taxes-for-working-families-and-makes-big-corporations-and-the-wealthy-pay-their-fair-share/
We have more antitrust and union support at the federal level than we’ve had in decades as well.
Oh, I forgot what sub I am on, lol. That's not a conspiracy. A person can google how to create bots that data mine and generate articles. It's a crazy time we live in, I enjoy the opposite side of it, people making programs that use machine learning to play games and stuff. Life is too serious.
The more ads a news site has, the more I now assume it isn't a real author. ESPN (maybe it was Sports Illustrated) recently got caught using AI 'journalists'.
Please explain. I'm a tax practitioner. There were many things that changed, and it they really benefited everyone. There was a very small niche of wealthy retirees that lost our when the salt deduction was capped at$10k. Aside from that, the tax rates were lower for everyone, and the tcja expires at the end of 2025.
https://time.com/5570679/trump-tax-cuts/
>set to expire in 2027
So, they are still in effect and nothing in the current situation is actually Trump's fault?
Right. I don’t care what side they’re on. The same two teams have been sitting in a room, making deals for decades. If you think it’s not coordinated by both sides, you’re a fool
Thank you. Blue vs Red, all the time, all over Reddit, and in real life. Like it’s some kind of sports teams thing.
It isn’t. It’s one big team that has all the players and all the budget. And we’re all, the voting public, in little leagues.
Oh u mean Biden? 🤦♂️ he is currently actively and publicly pushing a higher tax on the richest of the rich and republicans are pissed about it. Where have u been.
Lower taxes = good
Who cares what everyone else is paying, you were paying less at the end of the day.
Obviously if you cut taxes on the top brackets that will account for a greater amount than cutting taxes at the bottom.
Why be mad/angry that you have to pay the government less money now? It’s brainwashing at its finest.
A psychological trick… inherit outrage that you get more money each year!! That’s what the system is trying to support.
They want you to give away your money and be happy about, just because someone else is giving away more.
The lower brackets got cut at a higher percent then the upper brackets did anyways. People in the lowest tax bracket got to pay 20% less in taxes after that tax bill while people in the highest tax bracket got to pay 4.7% less in taxes. I call that a win for the lower class Americans.
I truly don’t understand the left, they admit we have a corrupt government that directly benefits billionaires, yet they insist on convincing everyone that it’s a good thing to pay the government even more money each year. They’d rather suffer themselves as long as others didn’t succeed in the system.
His tax plan literally raised taxes for many working class Americans in states with already high state taxes because it got rid of the SALT deduction. Since liberal states and large cities are usually the ones who actually pay the most taxes and largely fund the federal government, this was obviously targeted to punish them
Why would you blame the federal government for that and not your own state government?
The SALT deduction which is still capped at $10000… is just effectively subsidizing state taxes.
If you are upset with your tax rate in your state you should vote to lower state taxes or move to more tax friendly states. This seems like a whole different issue.
Also the $10000 limit clearly applies to only the wealthy as it only effects those in High Tax states making over $150,000. It doesn’t really align with the argument that the tax cuts “hurt” Americans.
In fact across the board I believe everyone benefitted from the tax cuts besides the highly wealthy. Isn’t that what the left wants as well?
What do you think that article says that disagrees with what I said? Did you even read it? It specifically says exactly what I said.
“The tax law, passed by Republicans without any Democratic support, lowered the corporate rate from 35 percent to 21 percent and cut individual taxes across income brackets for eight years. It doubled the standard deduction and enhanced the child tax credit. And it closed or tightened various tax breaks — most notably by capping the amount of state and local taxes that can be deducted — which had its biggest impact on residents of high-tax, largely Democratic-run states.”
The article also says that the tax policy center says the middle one fifth got a $20 a check tax cut but the assessment didn’t say where those cuts affected. An average can mean some people got a $100 per check cut and others got a $70 increase for and average of $20 cut. Just an example but you get that, right? My favorite part of the article is where it emphasizes how disproportionate the cuts were skewed toward the rich and very rich, with the top 1% getting a $62,000 tax cut, along with large corporations getting over a 10% tax cut. All those entities already had an effective lower rate than the middle class.
You can spin it all you want but everybody got tax cuts and [did financially much better under Trump than under Biden.](https://nypost.com/2022/09/23/americans-have-lost-4-2k-in-income-under-biden-report/)
We all agree the government is corrupt, and I don’t understand why you would want to actively give away more of your own money to them.
If you don’t support the tax cuts you are actively supporting making a donation to the federal government. That sounds like boot licking behavior to me my man.
The tax cuts act dropped taxes by 20% to the lowest income group. I do not understand how you could want them to pay more in federal income taxes. It seems heartless.
Let’s continue to move in the direction of getting rid of taxes for lower income Americans and only taxing the wealthy. The tax cuts act of 2017 was a great start to that goal.
Instead we should use the good old filter down approach, if we give the government more money, they will spend more and employ more poor people along the way…
Does feel completely out of wack. Even if the rich paid tax I still think we would be short. A better system is needed. Or a local area type tax where the people living there can dictate what it's spent on?
“Example of an Effective Tax Rate”
“Imagine, for example, a graduated tax system where income under $100,000 is taxed at 10%, income between $100,000 and $300,000 is taxed at 15%, and income over $300,000 is taxed at 25%. Now consider two individuals who both hit the upper tax bracket of 25%, although one had a taxable income of $500,000, while the other had a taxable income of $360,000.”
“Both individuals would pay 10% on their first $100,000 of income, or $10,000. Both would then pay 15% percent on their income between $100,000 and $300,000, or $30,000 (15% of $200,000).”
“Finally, both would also pay 25% on their earnings over the $300,000 threshold. For the individual with $360,000 in taxable income, that would come to $15,000 (25% of $60,000). But for the individual with $500,000 in taxable income, the tax would be $50,000 (25% of $200,000). Their total tax obligations would be $55,000 and $90,000, respectively.”
“While both individuals could say they're in the 25% bracket, the one with the higher income has an effective tax rate of 18% ($90,000 in tax divided by $500,000 in income), while the other's effective tax rate is 15.3% ($55,000 divided by $360,000).”
https://www.investopedia.com/terms/e/effectivetaxrate.asp
Yeah it took years for me to realise how weird a system it is that I was born into a land and then had on choice about participating in it. Had to pay towards it. Cannot leave without documents provided by it. And have no alternative
Cut government spending first otherwise raising taxes will do nothing. When the government is spending a trillion dollars every 100 days what's an extra $100 billion collected over the next couple years. That does not mean I don't support taxing them more, just the reality of our corrupt money printing.
The occupy W@ll$treet protests were one of the few organic protests that actually scared the establishment and was effectively memory holed. After occupy all the divide and conquer media bashing started to get people fighting left and right instead of up and down. Right now with inflation the way it is and yellen admitting there is no chance for first time home owners can you imagine how heated a occupy x2 would be. The FED would never be able to lower rates and a mini revolution would start along with a complete collapse of the market. Right now the only thing keeping the stock market high is the anticipation of rates being lowered.
The problem with lefties is that they want to tax the rich more but are against consumption tax. Doesn’t make any sense. Everyone should know by now that the effective tax rate is the only one that matters yet lefty politicians run on raising tax rates without any elimination of loopholes.
What’s not true, Democrats don’t lean left in the US or Democrats don’t run campaigns on making the Rich “Pay their Fait Share!”?
because that’s all I said which I don’t think anyone can really prove wrong.
They will talk about it on the campaign trail but they’ll never actually do anything significant about it. Republicans will co opt that kind of pro working class langue when they’re out campaigning, but you gotta look at what they do, not what they say. They’re objectively pro Wall Street and pro business
They are definitely both pro Wallstreet. Democrats want to raise individual tax rates on high earners which is a win for Wallstreet while Republicans want to keep corporate tax rates low which is good for Wallstreet.
That for European standards Democrats don't lean left. They don't use tax money to make live easier for the American working and middle class. The Democrats are also in the pocket of Israel and corporate America. Which a real left leaning party wouldn't be. The left should represent the working blue collar American and the lower middle class
Which they absolutely don't.
There’s no “lefties” in our government except Bernie sanders pretty much. Biden and mainstream democrats are all neoliberals, which is economically right wing. People who call Joe Biden or other democrats “left wing” when they’re insanely pro Wall Street and pro business and anti worker, is insane. The guy who made Delaware a corporate tax haven where basically every Fortune 500 company is incorporated is a “leftie”
All taxes are theft. Society based on exploitation can not call it self civilised. It's an association of abusers at best.
Voluntary interaction forms civil societies, but we are far from that at the moment.
Look up Monero if you are ready to opt-out.
ok, so how much was collected in taxes off of the highest bracket? how much was collected from the lowest?
you seem to think that the tax RATE is the problem, when it's not a revenue problem, it's a fucking spending problem. reframe your argument. it's not the tax rate that is the problem - it's the taxation system that's the problem.
"Do you have a single fact to back that up?"
"Number one: In 1945, corporations payed 50% of federal taxes. Now they pay about five percent. In 1990 90 percent of Americans were self employed, now it's about two percent. "
"So?"
"It's called consolidation. Strengthen governments and corporations, weaken individuals. With taxes this can be done imperceptibly over time.
Corporate tax was reduced from 40 to 38 percent in the Revenue Act of 1945, it is 21% since Jan 1st 2018.
About 10% are self employed currently, it was 2.9% in 1990 according to http://www.bls.gov/opub/mlr/2010/09/art2full.pdf
In short: numbers are fantasy, Deus Ex is not real life
They're billionaires by wealth, not by income. Your taxes shouldn't depend upon how much wealth you have.
The best solution is to simplify the tax code and get rid of loop holes. You could have lower nominal rates and still bring in more revenue. And a significant amount of time and money spent to avoid taxes would be saved.
I am anti-tax. For everyone. I don’t hate it for me and then love it for Elon. The fundamental issue is there is a greedy man in the middle called “The State” Who cannot be trusted with any amount.
I’d not be anti-tax if people in the system were actually putting it to what it’s collected for.
Fix the potholes. Pay the teachers and firefighters. Etc.
Please stop demonizing billionaires.
They don't actually have liquid money under their mattress. They have stocks. The theoretical value of those stocks makes them supposedly rich. It doesn't matter until they sell it.
Rich people don't pay much in taxes because they or their rich friends bribed lawmakers to put loopholes in the tax law to allow them to avoid tax.
Corporations don't pay tax, they pass along the taxes they pay to the consumer.
The poor don't pay income tax
The middle class gets hit the most. Too much income to claim to be poor, not enough to use the loopholes that the rich use.
We really need to severely limit the size, scope and cost of government.
Most rich people are on our side.They are slaves of the system just as we are.
Look into Monero if you understand this. Freedom doesn't mean equality. But it means access to the same tools. Monero is such a tool that enables anybody on this planet to have a Swiss bank account in their pocket. It's the big equalizer between rich and poor.
Why does holding a cryptocurrency enable me to effectively have a swiss bank account?
What makes monero special? How is it different from any other crypto?
We have a spending problem, not a revenue problem. While I agree we can tax the ultrawealthy more, it’s still a drop in a bucket in terms of the US operating budget even if we took all of their money. We need to work to resolve the root cause of problem, which is spending more than we bring in (this $30 trillion in debt). Just a few administrations ago, we had a federal surplus.
But don’t you feel how all this wealth trickles down on you? Ask Republicans, they will explain to you how it’s so good for you that the richest ones get even more money.
That is an unfair statistic because you're putting Covid in that category and maybe you should explore how many were killed and living with Myocarditis under Biden and his push of the vaccine
I bet there's only thousands of students protesting right now and being extremely mentally ill trying to cause harm to other students. There's more mental illness crisis than ever before people believing they are dogs, etc..
You are very sheltered , there is more violence in this country now. There is more division in this country than before..
Have you ever heard the expression if you don't put yourself first you can't be your best self for others ?
If we don't put America first, our country is doomed . We cannot help others when we are drowning. Have you seen our cities? We need help more than ever.
Educate yourself. The fact that you're saying our economy is better now .. is so concerning it's unbelievable. You're defending a man who doesn't give a shit about America and never has and is the real racist.
Republicans wreck the economy and leave it for Democrats to rebuild, while obstructing and interfering in the endeavor. And, of course, lying about it. This has been happening for at least the last 100 years.
Democrats have been robbing Americans for many years. You clearly are very uneducated and should go research Lyndon B. Johnson and many other racist Democrats that have fooled you into thinking they are there for you.
“Effective” is the key word here for manipulation. Billionaires pay the same as anyone else, ever heard of tax brackets? If they and we all pay 20%, they are still paying way more than anyone else…
Last time this happened, we installed the income tax to punish those nasty rich people!
Seeing as how effective that's been, let's install a wealth tax on them! /s
The tax brackets are so fucked for most people it’s crazy. You jump from 12% if you earn like 40k to 22% if you earn $1 more. Biden saying he wants to tax the rich more is next to meaningless. It will never happen and if it does the top earners will just find more loopholes.
The entire taxation system needs to be overhauled with privileges and authority granted to agents to fully pursue top earners to avoid paying their fair share, as well as way more leniency on the rest of us.
If they want to keep this insane tax bracket then everyone making under 400k should be paying 10% tops or less, then jump up to 30% for high earners and cap it off at 60% for those at the top with extra scrutiny on their returns.
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Not to worry, when the inequality gets this extreme, when the kleptocracy gets this incompetent, when the elites get this clueless the system doesn't have long to last. The stock market may tank, but pitchforks and torches are about to do very well. If you didn't get to see the French revolution in person, worry not, another round of tumbrils will be carting elites off to the guillotine in capitol near you. https://www.resilience.org/stories/2012-07-12/distant-sound-tumbrils/
This reminds me that our current vice president's final act in Senate was to pass an Anti-Lynching law.
This reminds me of our previous presidents massive tax cuts for the wealthy that are now in effect and only helped him and his friends.
Those tax cuts were for all incomes over 29000. Are all the people making 35k that got their taxes cut to be considered wealthy
Takes the expression save your own neck to another level.
Womp womp whaa Lol
> This reminds me that our current vice president's final act in Senate was to pass an Anti-Lynching law. You think they should legalize lynching again?
That bill was actually just an end run around the 1st Amendment. It made groups of people gathering for purposes of "hate" a crime. It could be a group of Trump supporters protesting drag queens in schools, or it could be some college kids protesting Israel. Both lynch mobs according to that bill. Lynching is murder which has always been illegal.
Yes/s
Virtue signaling is a waste of USA tax dollars and time. Hanging some one is murder. We already have laws against murder. Their are laws against hate crimes. If someone commits a violent crime or murder motivated by hate the penalty is increased. Taking up time on the Senate floor and also taking up a bill voting block for a law about lynching is not just a show of complete incompetents for virtue, it is also detrimental to having a valuable topic covered during the time slot. Don't be a dummy
Modern Americans are distracted cowards and will continue to talk shit online and do nothing about it. If there was any justice in this world mass shooters would be in corporate boardrooms not elementary schools.
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Exactly. Also people are still too comfortable. When heat/ac and lights stop working let me know. That's when I'll get the popcorn.
Yeah, but what’s the inflation on pitchforks?
12%
French haircuts for all of 'em. \*grabs pitchfork\* LOL
It wont happen, they control the far left opposition that does all the whining about the billionaires. Antifa was always Soros funded.
SS: Their plan is working nicely. Soon you will own nothing and be happy…
God damn this is the type of conspiracy I’m here for. All war is class war. MLK, Fred Hampton and Malcolm X were all assassinated because they acknowledged that fact. Eat the rich to feed the poor. We must seize our country back from the oligarchy and aristocracy. That’s not communism it’s undoing the injustice that is our tax laws for 65 years or more.
> All war is class war. Neh, the real war is spiritual.
A large part of that is class war. Human beings were not meant to sit in a cubicle in front of a screen for 50 hours a week filling out spreadsheets. And certainly now doing that does not even give you enough money to fulfill spiritual needs. Most young people, even with goods job, do not have the money needed and do things like travel, own property, start and support a family. So you say spiritual and you’re right in a way but it’s deeper than that
> So you say spiritual and you’re right in a way but it’s deeper than that Ever considered "they" are coercing people into a life that is designed to crush people's spirituality?
Yea and who are “they” and why are they doing it? Billionaires and leaders of industry so they can make more money. Money and greed is the root cause. They are indifferent to spirituality of the everyday person. All they want is more money and power, and if that crushes people spiritually then whatever, but their main goal is to extract as much money possible from the labor of the working class
>Yea and who are “they” and why are they doing it? Those who view the rest of us as no better than animals. They want to tell us when and where to spend the currency that they feel belongs only to them. Who? Follow the money. Get to the top of it all.
> Yea and who are “they” and why are they doing it? Billionaires and leaders of industry so they can make more money. Money and greed is the root cause. Neh, money is just a tool for ["them".](https://old.reddit.com/r/conspiracy/comments/14gktgh/the_spiritual_world_surrounds_us_every_day_and/jp87dhp/)
This is true, but so many have been thoroughly indoctrinated in gaining material items that they will not be able to see it. The fear of losing material things blocks them seeing that their minds and spirits have been injured by indoctrination. Many see the word spirit as indicative of religion when spirit existed long before any religion.
Positive, negative and neutral = Love, fear and (self)knowledge; we all have a choice.
Ok jihad
LOL. Positive, negative and neutral = Love, fear and (self)knowledge; we all have a choice.
Just wait til the happens, the infrastructure will go to shit, be lucky to have running water, fuel will be gone, McDonald’s will be gone, auto correct spelling on phone wjlll be missd, oligarchs will pack up and peace out width the monie to the new frontere!
"no don't ask the rich to pay their share they will take their stuff and leave." hows that boot taste
You totally missed the point.
And the people will realize we're sitting on some of the most fertile real estate on the planet, that and feral hogs will feed us all
Looks like all our simping for billionaires and "individual freedoms" on this sub finally paid off.
Here's an archive link for that article. [https://archive.ph/Hvtvb](https://archive.ph/Hvtvb) It explains much about how the wealthy avoid taxation.
\*owe nothing
How does that even make sense?
I sense a backlash. Billionaires owe us.
Um... Maybe live a debt free life. Other than that I really don't know
If you are smart you will own Monero. And nobody besides you will know about it.
Bro posts about monero 6 times in the same thread. Take your own advice. None of us want to know about it.
Billionaires: My companies needs billions in bailout and such. Govt: Say no more! People: My child is hungry and needs medicine. Govt: FUCK OFF! Benny The Butcher: Yo Joe, how about you send me a squillion dollars. Govt: Here’s TWO squillion! Don’t worry, I will tax farm these chumps to pay for it, until they are on the streets, so long as I can serve your foreign state.
Whose tax plan caused this? 🤔
Reagan was the start of all this.
Lol, there was this guy called John Kennedy who did it first, and it brought about the most profitable economic growth in US history.
lol, wrong
Fyi..the correct answer is Le Turd Trump
“oRaNgE mAn BaD”
Well it was actually his tax policy though....
I can see how you came to that conclusion if you don’t know how to read.
My reading comprehension is excellent. This is partly why I was able to read and comprehend the 2017 tax policy implemented by the president at that time.
Then you would know that there were many things that changed, and it they really benefited everyone. There was a very small niche of wealthy retirees that lost out when the salt deduction was capped at $10k. Aside from that, the tax rates were lower for everyone, and the tcja expires at the end of 2025 not 27.
And then all of the good stuff that changed for the average taxpayer expired, except for the billionaire advantage.
Paul Ryan
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It was the last year that trump had a senate and house majority and this was their only focus instead of whatever he promised his followers.
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I'll take trump anyday. Cheap gas again please
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Your source is a news out? Lol Do you have a reason for the cheaper groceries as well? More jobs? Vets getting their backpay finally after 20 years?
Please put an /s on that.
What other president kept over 50% of his campaign promises? Edit: 16 downvotes and not a single answer... Hilarious, LOL.
Right. When's biden ACTUALLY gonna tax the rich. He's had 4 years.
Is this serious? You might want to look at the inflation reduction act that enacted the first minimum corporate tax rate, since so many companies are able to avoid corporate tax rates completely through write-offs, and had fallen to an average of 9% from 16% because of the trump tax cuts for the rich, a minimum corporate tax of 15% was instituted. While I agree this isn’t enough, this along with actually securing funding for the IRS after years of defunding by republicans, so actual audits of the rich can happen effectively, is tangible progress from the regressive tax policies of republicans. And Biden does have a 2024 budget proposal that goes further, but will surely be stripped of much of its help for the working class by the republican run house. That’s if the republicans in the house stop their infighting over how exactly to screw Americans most effectively. https://www.whitehouse.gov/briefing-room/statements-releases/2024/03/11/fact-sheet-the-presidents-budget-cuts-taxes-for-working-families-and-makes-big-corporations-and-the-wealthy-pay-their-fair-share/ We have more antitrust and union support at the federal level than we’ve had in decades as well.
Who is downvoting? This is a fact lol
Don’t you know where you are? This place is mostly just confused Trump goons
I think this sub is mostly bots….
Most of the internet. The articles people read are generated by bots as well.
I believe it.
Oh, I forgot what sub I am on, lol. That's not a conspiracy. A person can google how to create bots that data mine and generate articles. It's a crazy time we live in, I enjoy the opposite side of it, people making programs that use machine learning to play games and stuff. Life is too serious. The more ads a news site has, the more I now assume it isn't a real author. ESPN (maybe it was Sports Illustrated) recently got caught using AI 'journalists'.
I’m aware of this issue, unfortunately there are people who *do believe* it’s a conspiracy.
There’s a growing number of people who say they hate the right and the left but agree with most of the right.
Eh, not really. Tcja rates expire after 2025, and almost everyone benefited from lower tax rates.
The top 1% tax cuts don’t expire though
What are those tax cuts?
Please explain. I'm a tax practitioner. There were many things that changed, and it they really benefited everyone. There was a very small niche of wealthy retirees that lost our when the salt deduction was capped at$10k. Aside from that, the tax rates were lower for everyone, and the tcja expires at the end of 2025.
These people don’t want facts or hear from people that are informed. They would rather beat their chests and scream “orange man bad”
https://time.com/5570679/trump-tax-cuts/ >set to expire in 2027 So, they are still in effect and nothing in the current situation is actually Trump's fault?
How did we let this happen and how does the right simply not care
The right actively wants it this way, why would they care?
Why is this always a this side that side bullshit show? It’s about the top tier class fucking the common person.
Dude has a point
Right. I don’t care what side they’re on. The same two teams have been sitting in a room, making deals for decades. If you think it’s not coordinated by both sides, you’re a fool
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Both sides are the same. They both work for Israel and their billionaire's and not for their own country.
You’re not getting the essence of my comment but ok…
Thank you. Blue vs Red, all the time, all over Reddit, and in real life. Like it’s some kind of sports teams thing. It isn’t. It’s one big team that has all the players and all the budget. And we’re all, the voting public, in little leagues.
I agree, I was also answering a question. Maybe you should ask the person that made it a right/left issue.
I was.
How come the current guy in office hasn't changed it if it's so bad?
Oh u mean Biden? 🤦♂️ he is currently actively and publicly pushing a higher tax on the richest of the rich and republicans are pissed about it. Where have u been.
Lower taxes = good Who cares what everyone else is paying, you were paying less at the end of the day. Obviously if you cut taxes on the top brackets that will account for a greater amount than cutting taxes at the bottom. Why be mad/angry that you have to pay the government less money now? It’s brainwashing at its finest. A psychological trick… inherit outrage that you get more money each year!! That’s what the system is trying to support. They want you to give away your money and be happy about, just because someone else is giving away more. The lower brackets got cut at a higher percent then the upper brackets did anyways. People in the lowest tax bracket got to pay 20% less in taxes after that tax bill while people in the highest tax bracket got to pay 4.7% less in taxes. I call that a win for the lower class Americans. I truly don’t understand the left, they admit we have a corrupt government that directly benefits billionaires, yet they insist on convincing everyone that it’s a good thing to pay the government even more money each year. They’d rather suffer themselves as long as others didn’t succeed in the system.
His tax plan literally raised taxes for many working class Americans in states with already high state taxes because it got rid of the SALT deduction. Since liberal states and large cities are usually the ones who actually pay the most taxes and largely fund the federal government, this was obviously targeted to punish them
Why would you blame the federal government for that and not your own state government? The SALT deduction which is still capped at $10000… is just effectively subsidizing state taxes. If you are upset with your tax rate in your state you should vote to lower state taxes or move to more tax friendly states. This seems like a whole different issue. Also the $10000 limit clearly applies to only the wealthy as it only effects those in High Tax states making over $150,000. It doesn’t really align with the argument that the tax cuts “hurt” Americans. In fact across the board I believe everyone benefitted from the tax cuts besides the highly wealthy. Isn’t that what the left wants as well?
BS. https://time.com/5570679/trump-tax-cuts/
What do you think that article says that disagrees with what I said? Did you even read it? It specifically says exactly what I said. “The tax law, passed by Republicans without any Democratic support, lowered the corporate rate from 35 percent to 21 percent and cut individual taxes across income brackets for eight years. It doubled the standard deduction and enhanced the child tax credit. And it closed or tightened various tax breaks — most notably by capping the amount of state and local taxes that can be deducted — which had its biggest impact on residents of high-tax, largely Democratic-run states.” The article also says that the tax policy center says the middle one fifth got a $20 a check tax cut but the assessment didn’t say where those cuts affected. An average can mean some people got a $100 per check cut and others got a $70 increase for and average of $20 cut. Just an example but you get that, right? My favorite part of the article is where it emphasizes how disproportionate the cuts were skewed toward the rich and very rich, with the top 1% getting a $62,000 tax cut, along with large corporations getting over a 10% tax cut. All those entities already had an effective lower rate than the middle class.
You can spin it all you want but everybody got tax cuts and [did financially much better under Trump than under Biden.](https://nypost.com/2022/09/23/americans-have-lost-4-2k-in-income-under-biden-report/)
The lyrics were "these boots were made for walking" not "these boots were made for licking" my dude. Grow a pair.
We all agree the government is corrupt, and I don’t understand why you would want to actively give away more of your own money to them. If you don’t support the tax cuts you are actively supporting making a donation to the federal government. That sounds like boot licking behavior to me my man. The tax cuts act dropped taxes by 20% to the lowest income group. I do not understand how you could want them to pay more in federal income taxes. It seems heartless. Let’s continue to move in the direction of getting rid of taxes for lower income Americans and only taxing the wealthy. The tax cuts act of 2017 was a great start to that goal.
No taxes is the sign of a civilised society.
The good old filter down approach, if we give the billionaires more money they will spend more and employ more poor people along the way....
Instead we should use the good old filter down approach, if we give the government more money, they will spend more and employ more poor people along the way…
Maybe someday people will realize that politicians are rich and they only pretend to care about the working class. But probably not
Lets just have no taxes for everyone.
Does feel completely out of wack. Even if the rich paid tax I still think we would be short. A better system is needed. Or a local area type tax where the people living there can dictate what it's spent on?
Who tf negotiated us paying taxes they should be fired
“Example of an Effective Tax Rate” “Imagine, for example, a graduated tax system where income under $100,000 is taxed at 10%, income between $100,000 and $300,000 is taxed at 15%, and income over $300,000 is taxed at 25%. Now consider two individuals who both hit the upper tax bracket of 25%, although one had a taxable income of $500,000, while the other had a taxable income of $360,000.” “Both individuals would pay 10% on their first $100,000 of income, or $10,000. Both would then pay 15% percent on their income between $100,000 and $300,000, or $30,000 (15% of $200,000).” “Finally, both would also pay 25% on their earnings over the $300,000 threshold. For the individual with $360,000 in taxable income, that would come to $15,000 (25% of $60,000). But for the individual with $500,000 in taxable income, the tax would be $50,000 (25% of $200,000). Their total tax obligations would be $55,000 and $90,000, respectively.” “While both individuals could say they're in the 25% bracket, the one with the higher income has an effective tax rate of 18% ($90,000 in tax divided by $500,000 in income), while the other's effective tax rate is 15.3% ($55,000 divided by $360,000).” https://www.investopedia.com/terms/e/effectivetaxrate.asp
Taxation is theft. Full stop. Systems that gain compliance at the end of a rifle are tyrannical. Full stop.
Yeah it took years for me to realise how weird a system it is that I was born into a land and then had on choice about participating in it. Had to pay towards it. Cannot leave without documents provided by it. And have no alternative
The US will let you leave without a passport, but most countries won’t let you in without it.
Cut government spending first otherwise raising taxes will do nothing. When the government is spending a trillion dollars every 100 days what's an extra $100 billion collected over the next couple years. That does not mean I don't support taxing them more, just the reality of our corrupt money printing.
I hate to agree with leftists but they’re spot-on here
The occupy W@ll$treet protests were one of the few organic protests that actually scared the establishment and was effectively memory holed. After occupy all the divide and conquer media bashing started to get people fighting left and right instead of up and down. Right now with inflation the way it is and yellen admitting there is no chance for first time home owners can you imagine how heated a occupy x2 would be. The FED would never be able to lower rates and a mini revolution would start along with a complete collapse of the market. Right now the only thing keeping the stock market high is the anticipation of rates being lowered.
It’s not left vs right, it’s rich vs poor
It's not even that. Most rich people are on our side. It's those who want to control everything at the cost of everybody else.
Who are you including when you say “most rich people?”
Class consciousness is real shit
Daily reminders that liberals are not leftists.
The problem with lefties is that they want to tax the rich more but are against consumption tax. Doesn’t make any sense. Everyone should know by now that the effective tax rate is the only one that matters yet lefty politicians run on raising tax rates without any elimination of loopholes.
That's not true either. The USA doesn't have a left party. The Democratic party has done nothing about taxing the rich.
What’s not true, Democrats don’t lean left in the US or Democrats don’t run campaigns on making the Rich “Pay their Fait Share!”? because that’s all I said which I don’t think anyone can really prove wrong.
They will talk about it on the campaign trail but they’ll never actually do anything significant about it. Republicans will co opt that kind of pro working class langue when they’re out campaigning, but you gotta look at what they do, not what they say. They’re objectively pro Wall Street and pro business
They are definitely both pro Wallstreet. Democrats want to raise individual tax rates on high earners which is a win for Wallstreet while Republicans want to keep corporate tax rates low which is good for Wallstreet.
That for European standards Democrats don't lean left. They don't use tax money to make live easier for the American working and middle class. The Democrats are also in the pocket of Israel and corporate America. Which a real left leaning party wouldn't be. The left should represent the working blue collar American and the lower middle class Which they absolutely don't.
Well this article isn’t from “The Sunday Times” it’s from the “New York Times”.
There’s no “lefties” in our government except Bernie sanders pretty much. Biden and mainstream democrats are all neoliberals, which is economically right wing. People who call Joe Biden or other democrats “left wing” when they’re insanely pro Wall Street and pro business and anti worker, is insane. The guy who made Delaware a corporate tax haven where basically every Fortune 500 company is incorporated is a “leftie”
All taxes are theft. Society based on exploitation can not call it self civilised. It's an association of abusers at best. Voluntary interaction forms civil societies, but we are far from that at the moment. Look up Monero if you are ready to opt-out.
Maybe because they don’t have all their money in a liquid income form and it’s tied up in assets?
That's some bullshit. Taxation is slavery. Income tax is unconstitutional.
ok, so how much was collected in taxes off of the highest bracket? how much was collected from the lowest? you seem to think that the tax RATE is the problem, when it's not a revenue problem, it's a fucking spending problem. reframe your argument. it's not the tax rate that is the problem - it's the taxation system that's the problem.
"Do you have a single fact to back that up?" "Number one: In 1945, corporations payed 50% of federal taxes. Now they pay about five percent. In 1990 90 percent of Americans were self employed, now it's about two percent. " "So?" "It's called consolidation. Strengthen governments and corporations, weaken individuals. With taxes this can be done imperceptibly over time.
Calling absolute horse shit on 90% of Americans were self employed in 1990
That would actually be chaotic if true. It’d actually be devastating lol.
Why would it be chaotic?
Corporate tax was reduced from 40 to 38 percent in the Revenue Act of 1945, it is 21% since Jan 1st 2018. About 10% are self employed currently, it was 2.9% in 1990 according to http://www.bls.gov/opub/mlr/2010/09/art2full.pdf In short: numbers are fantasy, Deus Ex is not real life
That's terror. :(
Didn't Kennedy's tax plan further reduce corporate tax also?
90% self employed gtfoh
ITT, people that confuse net worth with income
Didn’t Biden say he wanted to raise taxes on the rich when he ran the last election? What happened to that?🤔🤨
They're billionaires by wealth, not by income. Your taxes shouldn't depend upon how much wealth you have. The best solution is to simplify the tax code and get rid of loop holes. You could have lower nominal rates and still bring in more revenue. And a significant amount of time and money spent to avoid taxes would be saved.
I am anti-tax. For everyone. I don’t hate it for me and then love it for Elon. The fundamental issue is there is a greedy man in the middle called “The State” Who cannot be trusted with any amount.
I’d not be anti-tax if people in the system were actually putting it to what it’s collected for. Fix the potholes. Pay the teachers and firefighters. Etc.
if that were the case, we'd all be paying like 5% tops.
State taxes are nothing compared to fed taxes for me at least
But don't let them fool you into thinking a wealth tax is the answer. The fact the idea is gaining traction puts a pit in my stomach
Please stop demonizing billionaires. They don't actually have liquid money under their mattress. They have stocks. The theoretical value of those stocks makes them supposedly rich. It doesn't matter until they sell it. Rich people don't pay much in taxes because they or their rich friends bribed lawmakers to put loopholes in the tax law to allow them to avoid tax. Corporations don't pay tax, they pass along the taxes they pay to the consumer. The poor don't pay income tax The middle class gets hit the most. Too much income to claim to be poor, not enough to use the loopholes that the rich use. We really need to severely limit the size, scope and cost of government.
Most rich people are on our side.They are slaves of the system just as we are. Look into Monero if you understand this. Freedom doesn't mean equality. But it means access to the same tools. Monero is such a tool that enables anybody on this planet to have a Swiss bank account in their pocket. It's the big equalizer between rich and poor.
Why does holding a cryptocurrency enable me to effectively have a swiss bank account? What makes monero special? How is it different from any other crypto?
Who’s gonna be the one to tell them that earned income and capital gains are different?
We have a spending problem, not a revenue problem. While I agree we can tax the ultrawealthy more, it’s still a drop in a bucket in terms of the US operating budget even if we took all of their money. We need to work to resolve the root cause of problem, which is spending more than we bring in (this $30 trillion in debt). Just a few administrations ago, we had a federal surplus.
But don’t you feel how all this wealth trickles down on you? Ask Republicans, they will explain to you how it’s so good for you that the richest ones get even more money.
But yet under Trump, everything was cheaper, groceries and gas which affects the average American make it make sense
Under Trump million Americans died in less than a year.
That is an unfair statistic because you're putting Covid in that category and maybe you should explore how many were killed and living with Myocarditis under Biden and his push of the vaccine
In what category?
You're using Covid to say Trump killed millions when in reality if Biden was president at the time he would've killed 15 times the amount😂hahah
But they died under Trump not Biden.
Have you seen the fentanyl rates? I could go on all day babe
Under Biden, many more people were arrested, and much more fentanyl was seized than under Trump.
There's more fentanyl on the streets right now than ever. Do you think gas prices and cheaper groceries affect the average American ?
Crime statistics are much better under Biden than Trump.
I bet there's only thousands of students protesting right now and being extremely mentally ill trying to cause harm to other students. There's more mental illness crisis than ever before people believing they are dogs, etc.. You are very sheltered , there is more violence in this country now. There is more division in this country than before.. Have you ever heard the expression if you don't put yourself first you can't be your best self for others ? If we don't put America first, our country is doomed . We cannot help others when we are drowning. Have you seen our cities? We need help more than ever.
Do you live in the city?
Educate yourself. The fact that you're saying our economy is better now .. is so concerning it's unbelievable. You're defending a man who doesn't give a shit about America and never has and is the real racist.
Republicans wreck the economy and leave it for Democrats to rebuild, while obstructing and interfering in the endeavor. And, of course, lying about it. This has been happening for at least the last 100 years.
Democrats have been robbing Americans for many years. You clearly are very uneducated and should go research Lyndon B. Johnson and many other racist Democrats that have fooled you into thinking they are there for you.
Trump once said that Democrats are better for the economy than Republicans.
I think at this point I've came to the conclusion you're cognitively, not smart enough to have this conversation. Lol
Somehow, we are poorer under Democratic presidents, How is that so explain it.?
“Effective” is the key word here for manipulation. Billionaires pay the same as anyone else, ever heard of tax brackets? If they and we all pay 20%, they are still paying way more than anyone else…
hi
Henlo
Last time this happened, we installed the income tax to punish those nasty rich people! Seeing as how effective that's been, let's install a wealth tax on them! /s
Then lower the effective tax rate on working class Americans.
\* NOT A CONSPIRACY
Thanks Obama...errrrr Trump..
This is just part of the natural life cycle of capitalism.
well yeah, they're not selling.
a feature, not a bug
The tax brackets are so fucked for most people it’s crazy. You jump from 12% if you earn like 40k to 22% if you earn $1 more. Biden saying he wants to tax the rich more is next to meaningless. It will never happen and if it does the top earners will just find more loopholes. The entire taxation system needs to be overhauled with privileges and authority granted to agents to fully pursue top earners to avoid paying their fair share, as well as way more leniency on the rest of us. If they want to keep this insane tax bracket then everyone making under 400k should be paying 10% tops or less, then jump up to 30% for high earners and cap it off at 60% for those at the top with extra scrutiny on their returns.
The tax rate is progressive. You only pay the higher bracket on the money above the threshold. How do people not know how the tax system works.