Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Are you naive to think that the Republicans don't want to transfer the tax burden to the middle class?... How do you think they maintain their wealth?... By evading taxes...
Quote:
Originally Posted by HC475
I believe a flat tax might work as well...
wait, you complain that the republicans want to push the tax burden on the middle class through tax cuts for everyone, and then push the idea of a flat tax that will push the tax burden on the poor and middle class?
up until the reagan administration, the top 1% of wage earners paid 19% of all taxes collected by the IRS, and the top 10% paid close to 40%. the tax burden was fairly equally shared across the board. when reagan started cutting taxes for EVERYONE, the tax burden shifted upwards, and kept being shifted upwards through the bush 43 administration. to day the top 1% of wage earners pay nearly 40% of all taxes collected by the IRS, and the top 10% pay around 70% of all taxes collected by the IRS.
so how is the republican tax plan shifting the burden to the middle class again?
wait, you complain that the republicans want to push the tax burden on the middle class through tax cuts for everyone, and then push the idea of a flat tax that will push the tax burden on the poor and middle class?
up until the reagan administration, the top 1% of wage earners paid 19% of all taxes collected by the IRS, and the top 10% paid close to 40%. the tax burden was fairly equally shared across the board. when reagan started cutting taxes for EVERYONE, the tax burden shifted upwards, and kept being shifted upwards through the bush 43 administration. to day the top 1% of wage earners pay nearly 40% of all taxes collected by the IRS, and the top 10% pay around 70% of all taxes collected by the IRS.
so how is the republican tax plan shifting the burden to the middle class again?
They just don't realize a flat tax will hurt the bottom more than the top.
wait, you complain that the republicans want to push the tax burden on the middle class through tax cuts for everyone, and then push the idea of a flat tax that will push the tax burden on the poor and middle class?
up until the reagan administration, the top 1% of wage earners paid 19% of all taxes collected by the IRS, and the top 10% paid close to 40%. the tax burden was fairly equally shared across the board. when reagan started cutting taxes for EVERYONE, the tax burden shifted upwards, and kept being shifted upwards through the bush 43 administration. to day the top 1% of wage earners pay nearly 40% of all taxes collected by the IRS, and the top 10% pay around 70% of all taxes collected by the IRS.
so how is the republican tax plan shifting the burden to the middle class again?
Because they already are... They want to place the tax burden on the middle class...
"The tax cuts they want to give, as usual under Republican policies, will give 62 percent of the tax cuts to the top 1 percent of Americans," Hoyer said.
"Or said another way, an average $467 tax cut to working Americans in the middle of the income levels, and to the top 1 percent earners, an average of $157,000 tax cut...
and to Goldman Sachs, $2.6 billion in tax cuts. When you analyze that, you know what is happening is...
the same old Bush policies of advantaging the wealthy at the expense of the middle income working people and tax cuts which did not, as they were advertised to, grow the economy and grow jobs. In fact, they did just the opposite."
Michael Linden, associate director for tax and budget policy at the Center for American Progress Action Fund, said the Republican proposal is "unaffordable on a level we've never seen before."
"This is almost five times bigger than Bush tax cuts were," Linden said. "It really represents a doubling down on Bush's economic agenda. Where he skewed his tax policy heavily to the rich, this would skew it even further even to the exclusion of the middle class.
"$7 trillion in additional debt and deficit over next ten years would be calamitous," Linden added. "I think it's hard to understate the radicalism of this plan."
Do you know how many bills get introduced and never make it anywhere ?
This bill has been sitting and stagnating since April 2010 with 0 action.
You think this will pass HC475 ?
Do you know how many bills get introduced and never make it anywhere ?
This bill has been sitting and stagnating since April 2010 with 0 action.
You think this will pass HC475 ?
It better not pass... This only proves my point... The Republican Party is out to supress the middle class... How blind are you Republican supporters?...
It better not pass... This only proves my point... The Republican Party is out to supress the middle class... How blind are you Republican supporters?...
I'm not blind and I'm not a Republican.
But I also don't latch onto "maybe" and "if" and get all worked up like it's fact and will happen for sure.
There's also a bill to get rid of term limits for the President which I'm against but it's been sitting gathering dust so I'm NOT worried and all worked up about it.
And BTW..I voted today. Repub-Dem-Independent-Libertarian. Each of those parties got votes from me.
You see I vote for the person, not the party.
"The tax cuts they want to give, as usual under Republican policies, will give 62 percent of the tax cuts to the top 1 percent of Americans," Hoyer said.
"Or said another way, an average $467 tax cut to working Americans in the middle of the income levels, and to the top 1 percent earners, an average of $157,000 tax cut...
and to Goldman Sachs, $2.6 billion in tax cuts. When you analyze that, you know what is happening is...
the same old Bush policies of advantaging the wealthy at the expense of the middle income working people and tax cuts which did not, as they were advertised to, grow the economy and grow jobs. In fact, they did just the opposite."
Michael Linden, associate director for tax and budget policy at the Center for American Progress Action Fund, said the Republican proposal is "unaffordable on a level we've never seen before."
"This is almost five times bigger than Bush tax cuts were," Linden said. "It really represents a doubling down on Bush's economic agenda. Where he skewed his tax policy heavily to the rich, this would skew it even further even to the exclusion of the middle class.
"$7 trillion in additional debt and deficit over next ten years would be calamitous," Linden added. "I think it's hard to understate the radicalism of this plan."
you keep shoveling out this propaganda that the republicans somehow want to kill off the middle class, and it all comes from either democrats or organizations with liberal agendas, and most of it is complete hogwash.
up until the reagan administration, the top 1% of wage earners paid 19% of all taxes collected by the IRS, and the top 10% paid close to 40%. the tax burden was fairly equally shared across the board. when reagan started cutting taxes for EVERYONE, the tax burden shifted upwards, and kept being shifted upwards through the bush 43 administration. to day the top 1% of wage earners pay nearly 40% of all taxes collected by the IRS, and the top 10% pay around 70% of all taxes collected by the IRS.
so how is the republican tax plan shifting the burden to the middle class again?
Here are some more numbers to back you up:
Quote:
The share of the income tax burden borne by the top 10 percent of taxpayers increased from 48.0 percent in 1981 to 57.2 percent in 1988. Meanwhile, the share of income taxes paid by the bottom 50 percent of taxpayers dropped from 7.5 percent in 1981 to 5.7 percent in 1988
Quote:
A middle class of taxpayers can be defined as those between the 50th percentile and the 95th percentile (those earning between $18,367 and $72,735 in 1988). Between 1981 and 1988, the income tax burden of the middle class declined from 57.5 percent in 1981 to 48.7 percent in 1988. This 8.8 percentage point decline in middle class tax burden is entirely accounted for by the increase borne by the top one percent.
Quote:
Several conclusions follow from these data. First of all, reduction in high marginal tax rates can induce taxpayers to lessen their reliance on tax shelters and tax avoidance, and expose more of their income to taxation. The result in this case was a 51 percent increase in real tax payments by the top one percent. Meanwhile, the tax rate reduction reduced the tax payments of middle class and poor taxpayers. The net effect was a marked shift in the tax burden toward the top 1 percent amounting to about 10 percentage points. Lower top marginal tax rates had encouraged these taxpayers to generate more taxable income.
You can read the full report here:
The Reagan Tax Cuts: Lessons for Tax Reform (http://www.house.gov/jec/fiscal/tx-grwth/reagtxct/reagtxct.htm - broken link)
Going by the data the wealthy should be the ones hating Reagan, and the bottom 50% should be thankful for a lower tax burden.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
