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Old 12-04-2021, 11:06 AM
 
4,559 posts, read 4,100,369 times
Reputation: 2282

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How much money was cut and how much money went to the top?

Here’s a hypothetical example

2 men, one makes 25k one makes 100k the 25k guy pays 4K in taxes but under Trump it’s cut to 3k. That’s a 25 percent reduction. The 100k guy pays 16k in taxes and it’s cut to 13K that’s a reduction of 19 percent

The guy with 100k gets more money, but the guy with 25 k gets a bigger relative reduction.

Now the guy writing the article in the OP wrote a book with Glenn Beck, easy to see which side he will come down on.

I saw nothing in the article stating the amount of money cut from fed revenue and how much went to the wealthy and how much went to the middle class.

Data was cherry picked. Include complete data and the whole truth or just admit your dishonesty please.
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Old 12-04-2021, 11:23 AM
 
13,442 posts, read 4,287,635 times
Reputation: 5388
Quote:
Originally Posted by odinloki1 View Post
How much money was cut and how much money went to the top?

Here’s a hypothetical example

2 men, one makes 25k one makes 100k the 25k guy pays 4K in taxes but under Trump it’s cut to 3k. That’s a 25 percent reduction. The 100k guy pays 16k in taxes and it’s cut to 13K that’s a reduction of 19 percent

The guy with 100k gets more money, but the guy with 25 k gets a bigger relative reduction.

Now the guy writing the article in the OP wrote a book with Glenn Beck, easy to see which side he will come down on.

I saw nothing in the article stating the amount of money cut from fed revenue and how much went to the wealthy and how much went to the middle class.

Data was cherry picked. Include complete data and the whole truth or just admit your dishonesty please.



If you make more money you keep more in a tax cut. What's wrong with that unless you want equal outcomes dollar for dollar. There is NOTHING wrong if the "TOP" keeps more of their earned money because they invest it back in the system and money moves around.


You seemed to me to have a lefty mentality that it's bad of the top keep more of their earnings/investments because the left views it like it's not theirs, it's theirs to take and spread.
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Old 12-04-2021, 02:08 PM
 
2,335 posts, read 814,830 times
Reputation: 1217
Define Middle Class. And once you are honest and admit that it's about lifestyle regardless of where you live, you'll realize that these tax cuts you're referring to were very harsh to many in the "Middle Class". I'll pass also on ordaining the Republican Tax plan as the savior to the "Middle Class"

https://www.financialsamurai.com/def...s-it-ever-was/

Please note the section that starts with...

Definition Of A Middle Class Lifestyle

* Having a job that can comfortably, not extravagantly, support a family.

* Being able to afford a safe car to commute to work and reduce injury and fatality from accidents.

* Being able to take 2 – 4 weeks of vacation a year with the family.

* Being able to retire when Social Security kicks in at 62, at the earliest.

* Being able to save enough in your pre-tax retirement accounts in order for Social Security to be enough.....

Continued
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Old 12-04-2021, 02:40 PM
 
Location: NMB, SC
43,076 posts, read 18,252,401 times
Reputation: 34951
Quote:
Originally Posted by SanJuanStar View Post
So if people make or keep less of their money We have less embezzlement? So let's put a cap in how much money anybody can make because God knows crimes in the nation comes down when people are making less.
Some people want the FedGov to have all the money and then dole it out to people "fairly".
Go figure....
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Old 12-04-2021, 02:45 PM
 
Location: Wouldn't you like to know?
5,067 posts, read 1,665,707 times
Reputation: 3144
Quote:
Originally Posted by Grlzrl View Post
Sad this is just coming out NOW.


IRS data proves Trump tax cuts benefited middle, working-class Americans most

https://www.yahoo.com/news/irs-data-...130007569.html
.

but but Nancy and the fake news media said it was all tax cuts for the rich.
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Old 12-04-2021, 02:48 PM
 
5,985 posts, read 2,916,627 times
Reputation: 9026
A major cut to corporations while adding massively to the national debt (which we're NOW feeling the economic impact from). No, I don't think that tax cut helped the middle or working classes.
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Old 12-04-2021, 02:49 PM
 
2,335 posts, read 814,830 times
Reputation: 1217
Quote:
Originally Posted by ukrkoz View Post
I'll be honest, we paid the biggest ever tax bill after tax overhaul. So I'll pass on that. And not just few hundreds, trifold increase. Lots of deductions were removed.
Yep, and the group here will ignore your comment and my comment, and just pile on with their nonsense. It's what an echo chamber is all about.
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Old 12-04-2021, 04:04 PM
 
78,369 posts, read 60,566,039 times
Reputation: 49646
Quote:
Originally Posted by dicipher View Post
Yep, and the group here will ignore your comment and my comment, and just pile on with their nonsense. It's what an echo chamber is all about.
I made a thoughtful response to that poster in post #6 and neither of you responded to it.

Maybe there's more than one echo chamber.
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Old 12-04-2021, 04:32 PM
 
21,922 posts, read 9,494,494 times
Reputation: 19453
Quote:
Originally Posted by Mathguy View Post
I made a thoughtful response to that poster in post #6 and neither of you responded to it.

Maybe there's more than one echo chamber.
It's unlikely poster is even telling the truth. Over 80% got cuts. Chances are, he did, too. People often mistake their refund with their total tax. Not the brightest bulbs but Trump had the withholding adjusted when the act passed so people would see immediate results of the cut. Many, seeing their refund go down, assumed their taxes went up. Trump overestimated the intelligence of many Americans.

My mother in law was griping one year that her taxes went up. I asked her if her income went up and she swore that it didn't. I asked her if I could take a look at her tax returns for both years. It took me about 5 minutes to see that she had had a several thousand dollar capital gains distribution which was why her taxes did indeed increase. But her income increased and she had no clue.
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Old 12-04-2021, 04:33 PM
 
2,335 posts, read 814,830 times
Reputation: 1217
Quote:
Originally Posted by Mathguy View Post
I made a thoughtful response to that poster in post #6 and neither of you responded to it.

Maybe there's more than one echo chamber.
Just because it wasn't quoted doesn't mean it wasn't addressed (ultimately it was a direct comment to the poster you quoted so it was more appropriate for him to respond). We're talking about two different things....Middle Class is not the same as Middle Income. I thought that was rather clear, but next time I'll quote you directly if it makes you feel better.

P.S. It sounds like you are arguing even though you claim not to be.
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