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Everyone agrees that unless something changes, the SS trust funds will indeed run out of money. Well, everyone except members of the Flat Earth Society.
The mathematics is incontrovertible.
There's a couple things that we can do that would not only ensure SS doesn't run out of money, but would also fund a whole slew of other plans as well.
There's a couple things that we can do that would not only ensure SS doesn't run out of money, but would also fund a whole slew of other plans as well.
1) Tax the rich
2) Tax the churches
It's that simple.
The rich already pay almost all the taxes already - over 50% pay no net taxes on income. Do you really expect churches to fund SS?
The issue is a need to cut spending NOT increase taxes.
i bet anyone considered rich is above what you have , some may think you are rich in comparison to them
Let's try this again:
Wealth of Elon Musk
2012 $2,000,000,000
2022 $273,600,000,000
Wealth of Jeff Bezos
2012 $18,400,000,000
2022 $181,300,000,000
Wealth of Mark Zuckerberg
2012 $17,500,000,000
2022 $76,800,000,000
Minimum wage
2012 $7.25/hr
2022 $7.25/hr
Tax the damn rich.
Quote:
Originally Posted by ddeemo
The rich already pay almost all the taxes already - over 50% pay no net taxes on income. Do you really expect churches to fund SS?
The issue is a need to cut spending NOT increase taxes.
Two thirds of wealth during the pandemic has gone to the top 1%.
The top 1% owns 45.6% of all wealth while the bottom 50% owns just 0.75%.
Last year, real wages for 1.7 billion workers went down, while the wealth of billionaires went up $2.7 billion a day since 2020.
Tax the damn rich.
The CEOs of the top 350 publicly traded companies were paid 20x more than the average worker in the 1050s.
In the 1980s, 59x more
In 2009, 180x more.
Today, CEOs are paid 399x more than the average worker.
Tax the damn rich.
Corporate greed is when billionaires in agribusiness sector become $382 billion richer during the pandemic by jacking up food prices by 33.6% while 263 million people are pushed into extreme poverty and 62 people in the food industry became billionaires over the past two years.
Tax the damn rich.
If you made 11K a day since America's founding in 1776, you'd have $975 - which is what Jeff Bezos makes every 4 days. And due to Trump's tax cuts, Bezos now pays even lower taxes than the 43 million Americans in poverty.
Tax the damn rich.
Walmart has 76 subsidiaries and $76 billion in assets in tax havens where there are zero Walmart stores. And Walmart got $104 million in tax breaks for the bonuses it paid to 8 top executives 2009 to 2014.
"Since 2020, the richest 1 percent have captured almost two-thirds of all new wealth.
According to a 2021 White House study, the wealthiest 400 billionaire families in the US paid an average federal individual tax rate of of just 8.2 percent. For comparison, the average American taxpayer in the same year paid 13 percent."
"According to the Institute on Taxation and Economic Policy, at least 55 of the largest corporations in America paid no federal corporate income taxes in 2020.
The US government is estimated to have lost around 135 billion in revenue due to corporate tax avoidance in 2017. In contrast, corporate philanthropy has amounted to less than $20 billion a year.
Corporations shifted nearly $1 trillion in global profits to tax havens in 2019—depriving countries all over the world of desperately needed tax revenue."
Do you get it now?
And yes, when churches are fleecing their members and getting free money they don't pay taxes on to finance large home, yachts, and private planes, then it's time to tax the damn churches, too. Acquisition Cost of a Lear Jet
$2,340,000 - $2,860,000
The cost of just one Lear jet (on the low end) could give an extra $1000 to 2340 low income retirees. That's an extra $83 a month for one year. That's more then most are getting on COL raises.
^^^^^^^^
Best post of the year!!!
Great application of Sutton's Law
For those like me who had to look it up:
Quote:
The Willie Sutton Rule is often taught to medical students as Sutton's Law. It states that when making a diagnosis, it is worthwhile to first focus on the obvious and conduct medical tests that may confirm the most likely diagnosis, rather than trying to diagnose a relatively uncommon medical condition
Rodenraiser, excellent post laying it out for people. The elites want the middle class mad at poor people for not paying enough in taxes when like usual it’s the extremely wealthy, corporations and rip off churches that aren’t paying their fair share.
corporations don’t pay taxes . they really only collect taxes .
it is their customer base that is really absorbing those taxes …no different then sales tax..those taxes are incorporated in the price and services of goods and services .
increasing corporate taxes is merely increasing the price to ourselves. only people can pay taxes
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