Billionaires Skate under Trump's Mob Rule

[Elixir]

In 2018, for the first time in history, America’s richest billionaires paid a lower effective tax rate than the working class.

"the tipping point came in 2017, with the passage of the Tax Cuts and Jobs Act. That bill, championed by president Donald Trump and then-House Speaker Paul Ryan, was a windfall for the wealthy: it lowered the top income tax bracket and slashed the corporate tax rate."

The American public elected a mobster and his crime family.
Let's all act really surprised at how that's working out... after all, if it wasn't for the Democrats, The Mob would never have been able to scare people into voting for them.

 

[PyramidHead]

Not sure if your last line is sarcastic or not. Trump made the problem worse, but let's not let Democrats off the hook as if this was some sudden shift in policy.

 

[Jarhyn]

Not sure if your last line is sarcastic or not. Trump made the problem worse, but let's not let Democrats off the hook as if this was some sudden shift in policy.

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It might be prudent to color those grey lines, to indicate who was in office, red or blue, at the time of the shifts

 

[Derec]

This has already been discussed in this thread.
How to Tax Our Way Back to Justice

Basically, to come to this conclusion you need to count property taxes paid by landlords as paid by lower-income renters, count both employee and employer portion of the payroll tax as paid by employee, and also inflate the consumption taxes paid. It also doesn't seem to count "refundable" tax credits as negative taxes. In other words, there is a lot of shenanigans in the analysis.

 

[Half-Life]

https://taxfoundation.org/summary-latest-federal-income-tax-data-2018-update/

"The top 1 percent paid a greater share of individual income taxes (37.3 percent) than the bottom 90 percent combined (30.5 percent). The top 1 percent of taxpayers paid a 26.9 percent individual income tax rate, which is more than seven times higher than taxpayers in the bottom 50 percent (3.7 percent)"

When are the bottom 90% going to pay their fair share instead of leeching?!?!?

How come we don't hear this question from progressives?

 

[zorq]

https://taxfoundation.org/summary-latest-federal-income-tax-data-2018-update/

"The top 1 percent paid a greater share of individual income taxes (37.3 percent) than the bottom 90 percent combined (30.5 percent). The top 1 percent of taxpayers paid a 26.9 percent individual income tax rate, which is more than seven times higher than taxpayers in the bottom 50 percent (3.7 percent)"

When are the bottom 90% going to pay their fair share instead of leeching?!?!?

How come we don't hear this question from progressives?

Short answer: Because that is a stupid question.

 

[Half-Life]

https://taxfoundation.org/summary-latest-federal-income-tax-data-2018-update/

"The top 1 percent paid a greater share of individual income taxes (37.3 percent) than the bottom 90 percent combined (30.5 percent). The top 1 percent of taxpayers paid a 26.9 percent individual income tax rate, which is more than seven times higher than taxpayers in the bottom 50 percent (3.7 percent)"

When are the bottom 90% going to pay their fair share instead of leeching?!?!?

How come we don't hear this question from progressives?

Short answer: Because that is a stupid question.

So, it's OK for the bottom 90% to leech off the top 1% while paying hardly any taxes while simultaneously complaining about the 1%?

 

[zorq]

https://taxfoundation.org/summary-latest-federal-income-tax-data-2018-update/

"The top 1 percent paid a greater share of individual income taxes (37.3 percent) than the bottom 90 percent combined (30.5 percent). The top 1 percent of taxpayers paid a 26.9 percent individual income tax rate, which is more than seven times higher than taxpayers in the bottom 50 percent (3.7 percent)"

When are the bottom 90% going to pay their fair share instead of leeching?!?!?

How come we don't hear this question from progressives?

Short answer: Because that is a stupid question.

So, it's OK for the bottom 90% to leech off the top 1% while paying hardly any taxes while simultaneously complaining about the 1%?

That's not what I wrote. WHY do you think you are a mind reader?

You spend so much time writing rebuttals against what you IMAGINE that people on this board have written and you never seem to bother to actually read what they have written. Why is that?

 

[Loren Pechtel]

Not sure if your last line is sarcastic or not. Trump made the problem worse, but let's not let Democrats off the hook as if this was some sudden shift in policy.

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Except for the little detail that in the old days there were a gazillion loopholes. We know what the top book rate was, we don't know what people actually paid.

Note, also, that as much as that line wiggles around the actual tax take has varied very little over those years.

 

[PyramidHead]

Except for the little detail that

Oh my fucking christ, shut up.

 

[Loren Pechtel]

Except for the little detail that

Oh my fucking christ, shut up.

You don't like reality getting in the way of your fantasy, do you?