Posted on 07/02/2017 6:19:38 PM PDT by be-baw
Tax cuts increase revenue so paying for it is a misnomer.
I would say 99% of filers, joint or otherwise, that earn 400K gross income are probably all liberal/socialists.
The financial position of the United States includes assets of at least $269.6 trillion (1576% of GDP)
We could eliminate the Income tax altogether and replace it with a 1.5% annual wealth tax. This makes way more sense then taxing human work/labor/blood&sweat.
I would say you are very wrong. This would include hard working small business people. Then there are those of us who have stayed in school a long time and work hard long hours to make our income, only to turn around and give 1/2 of it to the state and feds because we really didn’t earn that and don’t deserve it. DH and I are just into the income bracket you are talking about. We work 60+ hour weeks, nights, weekends and holidays to earn it. We put off our earning potential til our 30’s and took loans to pay for school and training well past the age most of our compatriots were making a comfortable living. We are dyed in the wool conservatives as are a lot of our colleagues in the same situation. And people like you don’t think its a problem to confiscate over 1/2 of our earnings because we are probably liberals or socialists? Give me a break. And this site calls itself conservative.
Most people are not MD’s. Doctors make a lot of money off of the way billing is done against insurance. If we went back to cash for service I could muster some sympathy. Having said that I would rather a Doc get $400K than a a lawyer.
Makes too much sense
You really don’t know how my income is made - I don’t bill insurance directly. However that is not relevant, and I don’t ask for your sympathy. I just want a chance to keep some of what I work very hard long hours to earn. And a lot of the 400K folks are small businesses who also work hard and sacrifice to make their income. They deserve to keep the fruit of their labor as well. This country needs to stop punishing hard work and success.
Lol...
Yeah...tax assets that have already been paid for with aftertax dollars. What you think those assets will be worth once people need to liquidate them, because they owe more and more on their assets? How popular you think owning assets will be?
We have a small medical clinic in town run by a doctor and a nurse practitioner. They charge two rates, $75.00 for a cash visit or they will bill your insurance company after the take your co-pay. They charge the insurance company $165.00. How is that legal? How can I respect that?
Moat people earn way more than 1.5% on their assets through investment. It makes sense to lift the tax burden off of the average citizen. It makes sense which is why it will never happen.
The answer is because most insurance companies pay about 30 cents on the dollar billed. With medicare its more like 12 cents on the dollar, medicaid is about 7 cents on the dollar. In addition you have to hire billing and coding specialists to figure out how to submit the bill to actually get paid. That is the reality whether you respect it or not. And it still doesn’t have anything to do with how much of my income you think I am entitled to keep.
I think everyone should keep every dollar they make. I would replace the income tax with 20% import tariff and a 5% NRST. The economy would take off like it was on rocket fuel.
Don’t know if it’s true, but it is prerty clear that the chronie capitalism that is going on isn’t working... It takes 2 income earners on average to not even keep up with what 1 did 40 years ago.
The checks on corporations leave most stockholders with no power, and the same old folks pulling all the strings.
As more and more wealth accumulates at the top, something has to give or eventually you will wind up with civil upheaval... There is case after case of CEOs getting ungodly sums as they drive their companies out of business...
I think something is going to have to give at some point or it will break... Not sure if this is the answer in and of itself and seems if they are going to go to that level of taxation it need to likely be on higher income.. But we are definitely seeing the strains of capital not flowing like it should through society... Especially at the lower levels... This can’t keep on continuing... Or the whole system will collapse.
Why? Drop it to 4% there’s your 4
IF true then Bannon is an idiot
Excellent post. In a global economy the money stays at the top. The wealth previously created by actually manufacturing things here has been off shored to the 3rd world. So now our underclass has no real way of creating wealth. The underclass just chases the same dollars around in a shrinking pie scenario while the upper economic elites rakes it in through international trade and global wage arbitration.
This could work if that “4” in on the highest tax bracket, but at the same time, raise the point where that bracket applies. This would actually lower the overall taxable rates across the board, and mess up the Democrats “tax cuts for the wealthy” mantra...essentially exposing it as a lie.
Remember that group of leftists calling themselves the “Patriotic Millionaires” - who insisted they didn’t want or need all of that extra money and were begging to have their taxes raised? Why couldn’t they have voluntarily just given it away to charity, medical research, etc. rather than suffer with it just sitting in their bank account? Moreover, they should have been asked to release their tax returns for the last several years to prove they never took a deduction, accepted a refund, etc. to prove they wanted their taxes higher. It was just a bunch of nonsense to promote the phony narrative of their party.
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