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JPMorgan reaps billions in revenue from EBT/SNAP as they process the payments.
They reported $6 billion in profit from processing EBT payments in 49 states in 2016.
That $6 billion is tax payer dollars that the USG paid to them.
Indeed, and should not the taxpayers expect something in return? With one small program they get $6 billion dollars. So the question is, how much of that should the taxpayers see back in taxes?
Your argument is disingenuous. You don't squeeze blood from a stone. That's why the poor pay no income tax, they don't have the means to pay it. Some redistribution is necessary to counter the poor allocation of resources that naturally occurs with capitalism. It helps us avoid becoming India or Brazil, where there is no redistribution, and the lower classes live in favelas
Of course you don't squeeze blood from a stone; you shouldn't suck the blood out of a living being either.
Armed robbery is never moral, just or fair.
Simply stop the government intervention in business, we wouldn't have problems like India or Brazil.
I also must ask, since the poor pays virtually no taxes, morally, what's their fair share to the society?
Of course they would disagree with me. Look at all the crowing about how great everyone's 401k is doing. QE was brought to us by the "Capitalists". When they start to dismantle the Fed, you can then have a platform to stand on.
No real capitalist would support government intervention. The cronies do because that would allow them to buy politicians.
Let's add "Congress shall make no law abridging the freedom of peaceful commerce" to the constitution.
No real capitalist would support government intervention.
Stop it with your "real" imaginary positions. There is NO ONE promoting the ideas you pretend to support. When do you believe we will dismantle the Fed?
Again, I've repeatedly said we should tax like Scandinavian/European countries
Correction, you pretend that you support European models, but when pushed, you admit you support Trump's tax plan and certainly dont want what Europe has like much stronger unions, much higher taxes on the rich than America and much higher tax-to-GDP ratio. You pick the "lets have a high VAT" (while keeping the local sales taxes which Europe does not have) and try to pretend that this is the only part of the European system.
Be honest, you just asserted that the poor are better off begging charities if they need support. Thats the mentality you push. The Latin American way where a tiny super rich elite rule over the masses, huge inequality, taxes are regressive and the poor live in slums and beg charities for support.
Correction, you pretend that you support European models, but when pushed, you admit you support Trump's tax plan and certainly dont want what Europe has like much stronger unions, much higher taxes on the rich than America and much higher tax-to-GDP ratio.
How does your convoluted, delusional interpretation match what I've always said: Tax like Scandinavian /European countries. Put the middle class in the same income tax bracket as the top 1%, and implement a 20%-25% national VAT tax.
California Senator Dianne Feinstein, the ranking Democrat on the powerful Senate Judiciary Committee, is not happy with the tax cut bill Republicans in the House and Senate have agreed to. However, unlike most Democrats, Feinstein isn’t engaging in the usual attack her party unleashed on tax cut — that it will only help the rich — instead, she’s complaining that the bill would harm some of the wealthiest Californians.
The "rich" are in a panic about the new Tax Reform Bill because it's going to cost them a LOT of $$$$$.
The poor are going to get police protection, road access, and education regardless--and you know they will. It's a tired argument that is irrelevant to the situation.
In fact, fine, if that's all you are going to bring up let's run with it. Tabulate only police, fire, road, education, and military expenses, divide it by three hundred fifty million and see what you come up with. There is your tax for the year. Everything else... that you conveniently "forgot" to mention is eliminated. Works for me as well.
The main problem is that your idea and my idea of what should be "commons" is totally different. And your idea of the definition of "tax" is totally different than mine. That is why you champion de facto socialist redistribution "tax" and I champion consumption tax (FairTax).
Thing is, in the end, your "poor" would probably benefit more under the FairTax proposal than they do now, which indicates that there is more to your motives than meets the eye. My guess is that you are just as worried about the productive (i.e. "rich") being punished as you are the poor being supported.
oh please.
what you want is the limited set of services that you desire. put 50 people in a room and you will hear 50 answers as to what a gov should or should not provide.
My household is in the nation's top few % in income and net worth. My taxes are very low. let's stop with this pretense that wealthy americans pay high taxes, they most certainly do not. I pay less than half what i paid when i lived in the EU. And this new tax bill will lower it dramatically. and it will inflate housing even more, thus once again reducing the "stakeholders"...
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