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Old 03-08-2019, 03:37 PM
 
11,247 posts, read 20,833,234 times
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We pay a lot in taxes. But people want services so there is the predicament.
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Old 03-08-2019, 03:39 PM
 
4,084 posts, read 2,396,944 times
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Originally Posted by wheelsup View Post
We pay a lot in taxes. But people want services so there is the predicament.
Thats a whole separate thread.... IMHO
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Old 03-08-2019, 06:46 PM
 
Location: Olympus Mons, Mars
5,353 posts, read 8,322,167 times
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Originally Posted by wheelsup View Post
The working class don't really pay much in tax to begin with, I should know - I are one!!
I consider myself working class, I pay tens of thousands in taxes between state and Fed every year. The biggest scam is that the wealthy in this country are untouchable instead both Republicans and Democrats have decided that the middle and upper middle ($100k-300k or so) are those that will be taxed to death while the truly wealthy get off scott free.

Even if you make $300k/yr you aren't really wealthy, you're comfortable but not wealthy. The guy who makes $5 million/yr go after him and quit harassing the working class who have made a little bit more income.
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Old 03-08-2019, 07:01 PM
 
4,084 posts, read 2,396,944 times
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Originally Posted by k374 View Post
I consider myself working class, I pay tens of thousands in taxes between state and Fed every year. The biggest scam is that the wealthy in this country are untouchable instead both Republicans and Democrats have decided that the middle and upper middle ($100k-300k or so) are those that will be taxed to death while the truly wealthy get off scott free.

Even if you make $300k/yr you aren't really wealthy, you're comfortable but not wealthy. The guy who makes $5 million/yr go after him and quit harassing the working class who have made a little bit more income.
The wealthy pretty much run this country, like an oligarchy.
But why punish someone just because they make a certain amount of money? Who decides what dollar value that is? Nothing more than class warfare.
Tax everyone the same, ie 12%, and no tax returns.. Just flat tax, and force the government to budget their money given to them to run their required duty's via law.
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Old 03-08-2019, 07:15 PM
 
11,247 posts, read 20,833,234 times
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Quote:
Originally Posted by k374 View Post
I consider myself working class, I pay tens of thousands in taxes between state and Fed every year. The biggest scam is that the wealthy in this country are untouchable instead both Republicans and Democrats have decided that the middle and upper middle ($100k-300k or so) are those that will be taxed to death while the truly wealthy get off scott free.

Even if you make $300k/yr you aren't really wealthy, you're comfortable but not wealthy. The guy who makes $5 million/yr go after him and quit harassing the working class who have made a little bit more income.
The guy making $5m a year pays way more taxes than you and says the same thing about the guy making $20m a year.
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Old 03-08-2019, 07:41 PM
 
6,829 posts, read 2,829,122 times
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Originally Posted by GeoffD View Post
This is kind of nonsense. Let's say that "working class" has a $50K AGI cutoff. $25/hour. Filing single and taking the standard deduction, that's $4,375 in Federal income taxes. Your effective tax rate is less than 9%. Married, an AGI of $100K has the same numbers. You're still in the 12% bracket. The working class hardly pays any Federal income tax at all.
Thats good because we have the least to loose if the military goes away.
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Old 03-08-2019, 07:42 PM
 
6,829 posts, read 2,829,122 times
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Originally Posted by Steve40th View Post
The wealthy pretty much run this country, like an oligarchy.
But why punish someone just because they make a certain amount of money? Who decides what dollar value that is? Nothing more than class warfare.
Tax everyone the same, ie 12%, and no tax returns.. Just flat tax, and force the government to budget their money given to them to run their required duty's via law.
Your lucky we have a big enough nanny state that its just class warfare and not full blown terrorism against the rich.
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Old Yesterday, 12:31 AM
 
Location: Olympus Mons, Mars
5,353 posts, read 8,322,167 times
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Originally Posted by wheelsup View Post
The guy making $5m a year pays way more taxes than you and says the same thing about the guy making $20m a year.
no they don't. If you think that you are incredibly naive. Just to take a small example, a good friend of mine makes $500k/yr and pays half the amount of taxes I pay (as a percentage) through "creative accounting". I know this because he actually told me so... LMFAO! Earned income is the highest taxed, business and investment income well you can get really creative with it.

Guess that... virtually everyone who has very high income does not have what the IRS classifies as "earned income"

The truth is that, as a percentage, the truly wealthy pay a pittance in taxes, thanks to our seriously flawed tax code that was written by the rich and for the rich.
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Old Yesterday, 11:11 AM
 
Location: Raleigh NC
8,507 posts, read 6,666,721 times
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Quote:
Originally Posted by wheelsup View Post
The data doesn't support your view. You're pretty much just making numbers up out of thin air.
clearly.

and even a single data point (otherwise known as an anecdote or "my own situation") doesn't apply to the overall results.
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Old Yesterday, 11:16 AM
 
Location: Raleigh NC
8,507 posts, read 6,666,721 times
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Originally Posted by Elliott_CA View Post
"The U.S. economy's estimated growth rate in the fourth quarter was slashed to 1.5% from 2.7% by the Atlanta Federal Reserve after declines in retail sales and inventories. "

Trump's tax cuts are unsustainable.
without a link to your quote, hard to say when/where it came. Here's the results from a week after your original post:

Quote:
The US economy advanced an annualized 2.6 percent on quarter in the fourth quarter of 2018, beating market expectations of a 2.4 percent growth, the initial estimate showed.
https://tradingeconomics.com/united-states/gdp-growth
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