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But the lower and middle class in the USA pay much less in federal taxes than the same classes in other countries.
With earned income tax credits, tax deductions (personal exemptions, property taxes, mortgage deductions, sales tax deductions).
But we all know in order to raise enough revenue to support social programs taxes we will need to go raise taxes on the lower and middle class.
It's just the simple truth. The rich (by rich I mean very wealthy, not just upper middle class, not just the top 5%). The rich will always find ways around taxes.
As a side note. Some "high tax countries like the UK" actually impose a far lower short term capital gains tax rate than the "low income USA". It's like 28% short term capital gains tax rate in UK.
In the USA the rich pay a whopping 39.4% plus a 4% Medicare "surtax"/ACA tax on short term gains.
How do you like them apples. UK has lower short term investment tax rates than good ole USA.
So its simple. Raise the tax burden on the middle class. That wil be enough revenue to pay for all the social programs liberals want.
But the lower and middle class in the USA pay much less in federal taxes than the same classes in other countries.
With earned income tax credits, tax deductions (personal exemptions, property taxes, mortgage deductions, sales tax deductions).
But we in order to raise enough revenue to support social programs taxes wil need to go up on the lower and middle class.
It's just the simple truth. The rich (by rich I mean very wealthy, not just upper middle class, not just the top 5%). The rich will always find ways around taxes.
As a side note. Some "high tax countries like the UK" actually impose a far lower short term capital gains tax rate than the "low income USA". It's like 28% short term capital gains tax rate in UK.
In the USA the rich pay a whopping 39.4% plus a 4% Medicare "surtax"/ACA tax on short term gains.
How do you like them apples. UK has lower short term investment tax rates than good ole USA.
So its simple. Raise the tax burden on the middle class. That wil be enough revenue to pay for all the social programs liberals want.
Most of the people complaining about taxes aren't in the ultra wealthy club though.
"WE" do not get more services, and the services that WE do get, we can not afford to have. The money that's going into these government services are going to services that do not work.
I don't think that's necessarily so. Our military plays a vital role -- and the Navy especially so -- in helping to ensure the smooth flow of trade goods around the world. IMO, that's a critical and valuable service that I think we can all agree -- left and right alike -- can't be done properly on the cheap.
The thing is, half of Americans are paying higher taxes
I'm really sorry, but that's simply not true. Taxes, on a historical basis, are quite low right now. Returning to even Reagan-era tax rates would represent a huge tax hike.
And just FYI, President Reagan raised taxes several times when he realized that he'd cut them too deeply.
As a side note. Some "high tax countries like the UK" actually impose a far lower short term capital gains tax rate than the "low income USA". It's like 28% short term capital gains tax rate in UK.
That's a great point you are making. I'm from Germany and I was wondering about the high taxes on short-term capital gains with incomes over $ 373,000 in America. It's taxed with 35 %. That's mind-boggling. In Germany capital gains are taxed with 28% across the board, no matter the income level. Looks like in the capital gains department of the higher incomes the U.S. "outtaxes" us. I would have never thought that.
I don't think that's necessarily so. Our military plays a vital role -- and the Navy especially so -- in helping to ensure the smooth flow of trade goods around the world. IMO, that's a critical and valuable service that I think we can all agree -- left and right alike -- can't be done properly on the cheap.
We can not afford to doi it. Why is it so hard to understand that we do not have the money to police the word? I can not agree on this. Also, in half of the cases, the people we're helping either do not want our help and or end up turning against us. It can't be done properly by continuing to fund it with money we do not have either.
I have to cook dinner & will be back in second to finish my replies.
I don't think that's necessarily so. Our military plays a vital role -- and the Navy especially so -- in helping to ensure the smooth flow of trade goods around the world. IMO, that's a critical and valuable service that I think we can all agree -- left and right alike -- can't be done properly on the cheap.
Do we need 11 Carrier Battle groups? No other Nation requires even 25% of what we float.
Didn't know you thought people in the military to be leeches, good to know.
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