Enjoying those tax cuts yet?

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Re: Enjoying those tax cuts yet?

Postby Steve James on Tue Apr 30, 2019 12:24 pm

It's all well and good. However, the national debt and deficit are still growing at a record pace. The promise is that the economic boom will solve those issues. In addition, there are claims that social security and medicare are running out of money --especially for the people who will be retiring in 20 years or so. In any case, all the predictions of think tanks like the Heritage Foundation set goals of a decade or more. That means that we'll only know if the trickle down theory they suggest works in ten years. Of course, Bush pushed through tax cuts, and a decade later there had a recession.

Personally, I think that people should come before profits or corporations, even "small businesses" that hire people. People --who are poor and unemployed-- should be guaranteed health care. Yeah, I know. It's socialism, and we know that it doesn't work because people will just get lazy. "When people are given things, they don't work for them."

As meeks pointed out, human nature means that they are selfish. They don't share automatically because they have more. In fact, corporations have investors who are legally required to maximize profits for the shareholders. The employees are not considered at all except as a necessary cost that should be kept as low as possible. Companies that do profit share are operating on socialist principles.

It's ironic that the labor shortage is being touted as a good thing. The reason there is a shortage is because there are people to do the jobs, whether it's because of skills or lack of interest. It's true that kitchen help in restaurants is hard to find. Immigrants used to take many of the dish washing jobs. My grandson is one of those people who apply for service jobs, and then never shows up. When he takes a job, there's no telling whether he'll show up or not.

The problem is that just because the service and manufacturing industry are searching for workers, these jobs are for unskilled people. None of the numbers above apply to highly skilled or educated people. Well, maybe to laborers, but not to machinists or plumbers, let alone engineers or scientists. And, I guess I hear about more companies leaving or closing "Because" of whatever has happened in the last two years than I've heard of companies returning. At any rate, whatever they do, it is to increase profits.
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Re: Enjoying those tax cuts yet?

Postby meeks on Tue Apr 30, 2019 6:51 pm

windwalker wrote:
meeks wrote:
windwalker wrote:"Reducing the corporate tax rate is great for them and for smaller businesses. Most American taxpayers do not own businesses, large or small. They are employed."

Reducing the tax rates on those who employ them benefit them by allowing the employer's to stay in business, able to employ more people.


This is a very flawed logic that is waved by the Republican party.


Its not flawed only your understanding is.
They hire people based on demand for their product that in part is part of being able to make things at a lower cost.
The reason many companies outsource was because of the tax incentives to do so.

You disagree with what I said then point something out completely unrelated to what I was saying...? This is a thread about tax breaks for the uber rich, not an unrelated post about free trade and outsourcing to other countries.

windwalker wrote: I agree, you should pay more taxes and pay your employees more.

but aren't you essentially saying earlier that my paying less taxes will stimulate the economy somehow?
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Re: Enjoying those tax cuts yet?

Postby windwalker on Tue Apr 30, 2019 7:20 pm

meeks wrote:
windwalker wrote: I agree, you should pay more taxes and pay your employees more.

but aren't you essentially saying earlier that my paying less taxes will stimulate the economy somehow?



You argued for that corporations should pay more taxes.

I said that some might consider a business owner rich. Its a matter of scale.
you seem to have overlooked who did benefit form the cuts.

How much should they pay the uber-rich as you say

In 2016, the top 50 percent of all taxpayers paid 97 percent of all individual income taxes, while the bottom 50 percent paid the remaining 3 percent.

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)


In 2016, the bottom 50 percent of taxpayers (those with AGI below $40,078) earned 11.6 percent of total AGI. This group of taxpayers paid $43.9 billion in taxes, or roughly 3 percent of all income taxes in 2016.

In contrast, the top 1 percent of all taxpayers (taxpayers with AGI of $480,804 and above), earned 19.7 percent of all AGI in 2016, and paid 37.3 percent of all federal income taxes.

In 2016, the top 1 percent of taxpayers accounted for more income taxes paid than the bottom 90 percent combined. The top 1 percent of taxpayers paid roughly $538 billion, or 37.3 percent of all income taxes, while the bottom 90 percent paid about $440 billion, or 30.5 percent of all income taxes.
https://taxfoundation.org/summary-lates ... 18-update/

How much more do you feel they should pay?
Whats to prevent them from going to other countries as many corporations did and do to avoid
paying taxes..

This is a thread about tax breaks for the uber rich, not an unrelated post about free trade and outsourcing to other countries.


How do you think the uber rich as you say got rich, who do you think owns the companies that engage in trade and outsourcing.
Last edited by windwalker on Tue Apr 30, 2019 7:28 pm, edited 2 times in total.
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Re: Enjoying those tax cuts yet?

Postby grzegorz on Tue Apr 30, 2019 8:32 pm

If they want to leave the USA then let them go.

Besides Trump's tax cut gives them a tax break for outsourcing overseas so they may as well as do what Trump does and have all their stuff made abroad.

People always use that argument that the rich will leave California and some do but guess what?

Plenty more come in, buy their houses and take their places and many come back turns out the rich love the finer things like driving a few hours to go skiing while living by the beach and being able to drive to the wine country in just a few hours. Who would have thunk it? I guess OKC doesn't have it all...

Marin County is the most expensive zip code in the country. Surprise, surprise, surprise!

It's not a zip code in red state.

I would be happy if the rich left California and we could go back to being affordable for families who make a 100,000 a year. If your combined income is a 100,000 a year you can only afford rent in a third of the bay area.

You want our rich? Then be my guess.

The greatest con the right played was convincing Joe Average to sympathize with the rich while the rich are picking their pockets.

No need to cry for the rich because they really don't damn what happens to us so why cry for them?

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If we can't afford prescription medicine or a lawyer they definitely aren't crying for us or at least most of them aren't.
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Re: Enjoying those tax cuts yet?

Postby meeks on Sat May 04, 2019 11:39 am

The greatest con the right played was convincing Joe Average to sympathize with the rich while the rich are picking their pockets.

this!
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Re: Enjoying those tax cuts yet?

Postby meeks on Sat May 04, 2019 11:43 am


How do you think the uber rich as you say got rich, who do you think owns the companies that engage in trade and outsourcing.

not sure what you're trying to point out with what reads like a rhetorical question (although I doubt that was your intention). Can you simply explain to me how the tax breaks Trump gave himself and the top few percent in the amount of trillions over 10 years benefits the middle class or the infrastructure of local communities and cities?
Last edited by meeks on Sat May 04, 2019 11:44 am, edited 1 time in total.
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Re: Enjoying those tax cuts yet?

Postby windwalker on Sat May 04, 2019 12:53 pm

meeks wrote:

How do you think the uber rich as you say got rich, who do you think owns the companies that engage in trade and outsourcing.

not sure what you're trying to point out with what reads like a rhetorical question (although I doubt that was your intention).
It was, how do you think those who are in the 1% got there
Can you simply explain to me how the tax breaks Trump gave himself and the top few percent in the amount of trillions over 10 years benefits the middle class or the infrastructure of local communities and cities?


You might start out by understanding who pays the most in taxes.

You really think that Trump's tax laws were to benefit himself and others in
his tax bracket ::)

Top 0.1%, for example, will see their share of federal income taxes paid climb to 22% this year, up from 18.9% last year.

The share of income taxes paid by the top 1% will reach 43.3% this year, compared with 38% last year.





Did you pay more or less in taxes this yr.....

thanks to the GOP tax cuts, the rich will pay either the same or a greater share of the nation's income tax bill and millions more will pay zero income taxes. How exactly is this a "giveaway" to the rich?

https://www.investors.com/politics/edit ... hare-paid/

.Between 2007 and 2016, all but three of the 25 highest-tax states lost population. The 5 biggest losers: New York (which lost 1.3 million), California (-928,627), Illinois (-717,445), and New Jersey (-516,326), and Ohio (-346,792).
Last edited by windwalker on Sat May 04, 2019 2:03 pm, edited 2 times in total.
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Re: Enjoying those tax cuts yet?

Postby grzegorz on Sun May 05, 2019 11:35 pm

Meanwhile the debt and deficit keeps increasing.

Promises made, promises kept.

It's not that the tax cuts benefit Trump, which they do, but they benefit the lobbyists who own the GOP.
Last edited by grzegorz on Sun May 05, 2019 11:42 pm, edited 1 time in total.
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Re: Enjoying those tax cuts yet?

Postby grzegorz on Sun May 05, 2019 11:40 pm

Time to turn of FOX.

Mike Malloy rips union supporters who voted Trump a new one but to me the same applies to anyone working man who worships the rich.

When your rent is raised and you can't pay for your meds the rich will still be enjoying those tax cuts.

Watch "Trump Lashes Out Over Firefighters Supporting Biden" on YouTube

https://youtu.be/mf3CKUmttiI
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Re: Enjoying those tax cuts yet?

Postby grzegorz on Mon May 06, 2019 12:05 am

The irony is that conservative types often point to the good old days of fifties when the rich and corporations were taxed at something like 90% after their first million.
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Re: Enjoying those tax cuts yet?

Postby grzegorz on Sat May 18, 2019 12:04 am

Farmers committing suicide, tariffs which "we" will pay and no taxes for corporations.

Damn Trump sucks...

Watch "Farmer Who Voted for Trump: "I'm Off the Trump Train"" on YouTube

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