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Don't know if this just belongs in politics, so I'll post this same post in three places:
I did some research, and saw and have heard that in Eisenhower's time the top one percent earners paid 50 percent tax. Since then, it has steadily dropped. So, I did some math. I looked at how much top one percent pay in taxes, which is about 20 percent, and this winds up (from figures in millions) to be $400 billion altogether for a year. But let's say for a couple years they paid 50 percent tax, especially if the Republicans are so gall-dang worried about this thing called debt that pretty much everyone who pays bills knows what it means, then the revenue going into the Treasury would be $1 trillion x 2 years = $2 trillion. That would pay off the debt, deficit, and a super max McDonald's hamburger dinner for four poor people for the rest of their lives. Anyone want to correct me? Should I send it to some group who specializes in teaching truth to money mongers? Keep in mind, after the two trillion goes out the window, the top one percent KEEP two trill.
TEXAN, the top ONE PERCENT, as I said in my post, make an estimated average of one trillion dollars.
I understand the thought process, but the top 5-50% make an estimated $4.5 trillion. THAT'S where the bulk of the income is. We need to tax THAT if we're really serious about increasing income tax revenue. Just taxing the top 1%'s measly $1 trillion is just a class warfare teeny tiny drop in the bucket "I'm jealous of your success so I'm going to tax you" tax.
TEXAN, the top ONE PERCENT, as I said in my post, make an estimated average of one trillion dollars.
WHO'S ON FIRST, I wanna be on second.
It's socially acceptable to be mathematically illiterate. It may not be wise to advertise it.
Not one person in the history of the world has ever made $1 trillion of income in a year (or even a lifetime.) In fact, not one person in the history of the world has ever accumulated $1 trillion in net worth.
Don't know if this just belongs in politics, so I'll post this same post in three places:
I did some research, and saw and have heard that in Eisenhower's time the top one percent earners paid 50 percent tax. Since then, it has steadily dropped. So, I did some math. I looked at how much top one percent pay in taxes, which is about 20 percent, and this winds up (from figures in millions) to be $400 billion altogether for a year. But let's say for a couple years they paid 50 percent tax, especially if the Republicans are so gall-dang worried about this thing called debt that pretty much everyone who pays bills knows what it means, then the revenue going into the Treasury would be $1 trillion x 2 years = $2 trillion. That would pay off the debt, deficit, and a super max McDonald's hamburger dinner for four poor people for the rest of their lives. Anyone want to correct me? Should I send it to some group who specializes in teaching truth to money mongers? Keep in mind, after the two trillion goes out the window, the top one percent KEEP two trill.
If you want to advocate for stealing 50% of someone's income, you could at least show some facts and sources to support your claims before you ask for people to correct you.
Taxing the rich (which will become a constantly moving target and will continue to be redefined as the government needs more and more money) will not get us out of the mess we are mired in.
Using the terms "fair share" and "fair shot" doesn't change the fact that we are trying to squeeze those who HAVE money, to pay for those who wants us to GIVE them our money. Taking from someone to give to someone else is the very definition of redistribution.
"Skin in the game" is another term bandied around freely. If everybody has to pay their fair share then EVERYBODY has to pay something - those with little should also contribute something. Even a little because they can only afford a little.
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