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I completely comprehend it now tell me how you can give a pass to a millionaire for being able to write off business losses to negate their tax obligation yet complain that someone at the other end of the financial spectrum isn't "paying their fair share" as theirs is erased due to income level, deductions, and dependents?
Because when you have a loss, that wipes out any income you may have had. It's basic math. I'll give you an easy example to understand:
It’s bipartisan. Billionaires of both parties manage to avoid paying taxes. The difference is that Democrats want to do something about that, and Republicans don’t.
lmao ... no they don't, where's the Democratic Senate bill doing something about it, Democrats have been in charge there for 5 years.
Then accept: income - dependents - total deductions = 0 tax obligation do you get it now.
That's already tax law. That's why 40.1% of US 1040 filers pay no Individual Federal Income Tax whatsoever. Here's a chart on how that plays out by income level. The dark bars represent the percentage of those paying no IFIT in each income group, and if you hover your curser over the bar it well tell you the exact percentage at that income level:
The historical trend demonstrates that the Republicans aren't really interested in dealing with the deficit. At least they haven't since the 1980s. They just want to block the actions of the opposition party. Basically, politics as usual.
The historical trend demonstrates that the Republicans aren't really interested in dealing with the deficit. At least they haven't since the 1980s. They just want to block the actions of the opposition party. Basically, politics as usual.
Its all revenge politics for them. Their cult leader lost, They're blinded with revenge.
The historical trend demonstrates that the Republicans aren't really interested in dealing with the deficit. At least they haven't since the 1980s. They just want to block the actions of the opposition party. Basically, politics as usual.
That is because "Rupublican" does not mean "conservative". Most Republicans are moderates with some liberals. There almost as few conservative Republicans in Congress as liberal Republicans.
Newt Gingrich was the last conservative Republican allowed to be Speaker of the House. The blue blood GOP establishment thought they needed Gingrich to oppose Clinton. They didn't like how far Gingrich went to oppose the New World Order. No conservative Republican has been allowed that much power by the country club GOP establishment ever since. The RINOs ins
It is quite impossible for a conservative Republican to ever be selected for Senate Majority Leader, as the Senate is nothing but a Millionaire's old Boy's Club.
$6.7 trillion to be exact under the prior one-term administration!
In fact EVERY republican administration has increase the debt by cutting taxes for the wealthy. Then when the Dems get in office the Republican scream that we have "spending problem". We don't have a spending problem we have a taxation problem.
That myth really needs to die off. It was across the board tax cuts, not just for "the wealthy."
And we don't have a taxation problem, we have a spending problem. Government revenue increases after tax cuts.
The historical trend demonstrates that the Republicans aren't really interested in dealing with the deficit. At least they haven't since the 1980s.
Actually, not since the 1920s. Under Coolidge, the House and Senate were also Republican, and that was the last time a fully Republican US government reduced the size/cost of the overall federal government.
They have been entirely full of crap on that particular plank in their platform ever since. So roughly a century of governing in opposition to their platform.
Minor quibble. You were being nice by saying it's only been 40 years. It's been more like 100.
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$6.7 trillion to be exact under the prior one-term administration!