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...Perhaps the chart, above, explains what's holding back our economic growth. Those with the most to invest in the expansion of the US economy are having that money siphoned off by Fed Gov.
Thanks and cannot rep you ATM. Believe it or not we agree on a few things. I fit in no standard political classification. Kudos for reasonably neutral sourcing. FWIW Im not for large income tax increases on the wealthy. I am for differentiating between:
True venture capitalists. Creators
neutral capitalists. IE betting on the price of soy beans neither harms nor helps
Capitalists who practice bust outs. IE bankrupting companies while putting them in debt.
(I would pay for universal care with a payroll tax (not income tax) which would likely be similar in cost to private health insurance costs paid for by employers currently and there would be an equal employee portion along with copays and deductibles. Cost control never seems to be talked about like monopolies, back billing, etc.)
What I find most interesting on the graph is how the state tax gets smaller on the highest groups.
Thanks and cannot rep you ATM. Believe it or not we agree on a few things. I fit in no standard political classification. Kudos for reasonably neutral sourcing. FWIW Im not for large income tax increases on the wealthy. I am for differentiating between:
True venture capitalists. Creators
neutral capitalists. IE betting on the price of soy beans neither harms nor helps
Capitalists who practice bust outs. IE bankrupting companies while putting them in debt.
(I would pay for universal care with a payroll tax (not income tax) which would likely be similar in cost to private health insurance costs paid for by employers currently and there would be an equal employee portion along with copays and deductibles. Cost control never seems to be talked about like monopolies, back billing, etc.)
That won't work, as that makes tax-filing workers foot the bill for everyone else. And we have an historically low Labor Force Participation Rate. Universal health care really needs to be funded with a 25% VAT tax that everyone pays (as is so in European countries). That way it captures tax revenue from even those who earn their income illicitly and don't report to or file taxes with the IRS. Examples include drug dealers, arms traffickers, smugglers of controlled goods (e.g., ivory tusks, endangered animal pelts, foreign nations' antiquities), money launderers, illegal betting operations, con artists, etc.
Oh, and those hedge fund managers so many like to complain about? If they want to live the high life... CHA CHING! That's a 25% VAT tax surcharge on your high-flying lifestyle, Hedgie.
Quote:
What I find most interesting on the graph is how the state tax gets smaller on the highest groups.
State and local. That's largely an artifact of real estate tax. Real estate values (and therefore, real estate tax) have much a much lower variance rate than income.
If I was one of the 1%, I would hope to be like Bill and Melinda Gates. I admire them greatly. They could be selfish and self absorbed, yet they give so much to the world. Why not help others when you have billions of dollars. You can't possibly spend that much in your lifetime. So why not do some good for others.
I was going to mention them as well as Warren Buffet. Do they owe anybody anything for being successful? I vote no. Some people are generous, some stingy. Look at Trump and his left over inauguration money that he said he would donate to charity. Trump raised 107 million dollars. There's tens of millions of dollars left over. Legally he can keep every penny and it looks like he has. He can use campaign funds to pay for his legal defense and take money from the RNC as well. He can sell his merchandise to his base and use that money too. Does he need that money? Probably not. Does he owe poor people a bone? No. It's his money. He can hoard it or be generous. I think he's a hoarder. Some people always want more and they don't care who starves in their wake. You have to respect it, it's just who he is. No Bill and Melinda Gates. That's for sure.
So, why do Dems want them here? Why are Dems fighting against ending DACA and deporting DACAs, increasing illegal alien deportations, and building the wall?
why hasn't the GOP pushed these through since they control all 3 branches?
Obama deported more folks than any other president yet folks claim he loved illegals.
I was going to mention them as well as Warren Buffet. Do they owe anybody anything for being successful? I vote no. Some people are generous, some stingy. Look at Trump and his left over inauguration money that he said he would donate to charity. Trump raised 107 million dollars. There's tens of millions of dollars left over. Legally he can keep every penny and it looks like he has. He can use campaign funds to pay for his legal defense and take money from the RNC as well. He can sell his merchandise to his base and use that money too. Does he need that money? Probably not. Does he owe poor people a bone? No. It's his money. He can hoard it or be generous. I think he's a hoarder. Some people always want more and they don't care who starves in their wake. You have to respect it, it's just who he is. No Bill and Melinda Gates. That's for sure.
Bill and Melinda are just as greedy. They use their charity foundation as a tax shelter.
I was going to mention them as well as Warren Buffet. Do they owe anybody anything for being successful? I vote no. Some people are generous, some stingy. Look at Trump and his left over inauguration money that he said he would donate to charity. Trump raised 107 million dollars. There's tens of millions of dollars left over. Legally he can keep every penny and it looks like he has. He can use campaign funds to pay for his legal defense and take money from the RNC as well. He can sell his merchandise to his base and use that money too. Does he need that money? Probably not. Does he owe poor people a bone? No. It's his money. He can hoard it or be generous. I think he's a hoarder. Some people always want more and they don't care who starves in their wake. You have to respect it, it's just who he is. No Bill and Melinda Gates. That's for sure.
Who are you to determine who needs what? Do I have a say in what you need?
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