Federal Income Tax Reform Proposal - Effect on Californians (transfer, centers)

[ddeemo]

Originally Posted by Tulemutt

You should be a salad chef at Taco Bell ... what you do with words goes well with indigestible fast food. And completely misses the point I made. The 1%, the 5%, the 20% don’t NEED any breaks ... and feeding them while starving the plebeian masses starves the system you love.

The bottom nearly 50% pays no tax - it is hard to reduce taxes to someone that is already at zero. You are not "starving the plebian masses" by giving tax cuts to those that create the jobs.

Just to note also, anyone above about bottom 30% in the US is in the top 1% worldwide ($32k). I bet many didn't know that they are technically the 1%, those that they often criticize.

[CaliRestoration]

Originally Posted by ddeemo

The bottom nearly 50% pays no tax - it is hard to reduce taxes to someone that is already at zero. You are not "starving the plebian masses" by giving tax cuts to those that create the jobs.

Just to note also, anyone above about bottom 30% in the US is in the top 1% worldwide ($32k). I bet many didn't know that they are technically the 1%, those that they often criticize.

Wrecked.

[CaliRestoration]

Originally Posted by 2sleepy

uh huh..and what did you have to call a "welfare program" to come up with that number, medicare and Social Security?

Two of the biggest failed welfare programs in history.

[CaliRestoration]

Originally Posted by CA4Now

Isn't it past your bedtime in Dallas?

What a valid contribution to a discussion about tax policy.

[CA4Now]

Originally Posted by CaliRestoration

Two of the biggest failed welfare programs in history.

Only until you start qualifying for both, right?

Originally Posted by CaliRestoration

What a valid contribution to a discussion about tax policy.

Thank you!

[2sleepy]

Originally Posted by ddeemo

The bottom nearly 50% pays no tax - it is hard to reduce taxes to someone that is already at zero. You are not "starving the plebian masses" by giving tax cuts to those that create the jobs.

Just to note also, anyone above about bottom 30% in the US is in the top 1% worldwide ($32k). I bet many didn't know that they are technically the 1%, those that they often criticize.

A large number of them don't pay income tax but that is just one tax, you conveniently overlook payroll taxes & state and local taxes There are billionaires who pay no income tax too but my guess is that you admire them.

[2sleepy]

Originally Posted by CaliRestoration

Two of the biggest failed welfare programs in history.

Tell that to people who worked all their lives with no pension plan and rely on SS to pay the rent and buy food

[Bolanders]

Originally Posted by 2sleepy

A large number of them don't pay income tax but that is just one tax, you conveniently overlook payroll taxes & state and local taxes There are billionaires who pay no income tax too but my guess is that you admire them.

This is true and I almost posted it. A couple things about the other post. There are some flaws in saying that 50% pay no federal income tax (not tax because as you pointed out there are other taxes). Many of those shouldn't pay tax as they earn no income, etc. There are a certain % that earn and pay no income tax however but it isn't 50%. I believe Tulemutt posted an article regarding that a few months ago. Having said that the bottom 80% pay an average of about $2000 (as shown by my figures posted) and yet their share based on what is spent is around $30,000 per year as is my share, your share and the other 141 million tax payers share. Some of that $30,000 is paid for with payroll taxes, etc but they don't come close to covering their fair share.

[CaliRestoration]

Originally Posted by CA4Now

Only until you start qualifying for both, right?

I've been fortunate enough in my life to not need either one, ever.

Thank you!

I'm glad you see that as a compliment. Enjoy it.

[CaliRestoration]

Originally Posted by 2sleepy

Tell that to people who worked all their lives with no pension plan and rely on SS to pay the rent and buy food

There are some people whom I think probably need that type of welfare (injured, genetic disability, etc).

But for the majority of people, if you lived 62 years of life and never invested into your future or retirement, I have little sympathy.

I know 30 year olds (I'm part of an angel investor group in California still even though I do not claim residency in the state) who have a nearly 7 digit large investment eggs by just making smart, SUPER simple, moves. Literally saving, investing, and realigning. That's it. None of these guys are "Harvard grads" (well one is, but that's not why he's rich), and none of them came from "Rockerfeller" families.

There are people on welfare right now rocking iPhone 11 Pros. The system is being abused, and it's extremely broken. US Welfare programs have never reduced poverty, ever, in fact they've probably exacerbated it.