Trump Acquittal Thoughts?

Thanks for the breakdown. So what you've shown us is that the 1% did indeed receive a share disproportionate (over 9 times) their share of the population, and that the top 5% got over a quarter. So while the "rich" didn't get all of the benefit from the tax cuts, they got a way disproportionate amount of them. You think that's okay though, cuz they're paying a higher percentage of the taxes. But their share of the taxes is a much smaller percentage of their income. And for this you characterize Tyrsonwood's comments as lacking in intellectual integrity. Classic projection!

 

Get back to us in five years and see how funny it seems.

 

H

 

H?

 

How to figure it is "disproportionate"? Since the top 1% bear 30% of the federal income tax load, I think you could claim that in "fair" tax cut they would have received 30% of the total reduction. As it is, they only received 9%. They could reasonably claim they were short-changed!

Can you substantiate your claim that "their share of the taxes is a much smaller percentage of their income"? (I presume you mean AGI). I doubt that is true, but I'm not inclined to look it up. They certainly pay a much higher percentage than does the bottom quintile, which pays, according to Forbes, a negative 9%.

If I had read your last two sentences before responding, I would not have bothered responding to your comment, which shows little evidence of giving serious thought to the matter. You and your ilk not only seem bent on class warfare, but want to mindless impugn peoples motives without making the slightest effort to understand complex matters or to resolve differences civilly.

 

But a lot of consequence did happen! The Republican majority in the Senate voted to acquit the president without allowing testimony from relevant eyewitnesses, after Trump's legal eagles argued essentially that he's above the law. He managed to emasculate Congress by stonewalling it with sweeping claims of executive privilege. His Attorney General has turned the previously relatively independent, professional justice department into a political tool for the President. And Trump just today claimed that he's the chief law enforcement officer and can intervene to use the Justice Department to reward his supporters and punish his enemies. Meanwhile, he and Mitch are packing the courts with incompetent ideologues with life tenure. Our intelligence agencies, the State Department, the FBI have been attacked and denounced as part of some "deep state" conspiracy, and their advice has been ignored in favor of a tin pot Russian dictator. Our NATO allies have been spurned in favor of said dictator. And as for that "butwipe ex Soviet corruptocracy", the attempt to extort collaboration of a foreign power to dig up dirt on a political rival has implications for our democracy that go far beyond "not supplying anti tank missiles for 2 months. Quite a lot of damage in only three years, and now he feels untouchable, with good reason. Do you harbor some particular hatred for our country or secret love of corruption that motivates you to provide such persistent, sophistic rationalizations for Trump's behavior?

 

It's been an interesting couple of pages

Single filers, 2018-2025


Taxable income over Up to Marginal rate
$0 $9,525 10%
$9,526 $38,700 12%
$38,701 $82,500 22%
$82,501 $157,500 24%
$157,501 $200,000 32%
$200,001 $500,000 35%
$500,001 and up 37


Standard Deduction
The law raised the standard deduction to $24,000 for married couples filing jointly in 2018 (from $12,700), to $12,000 for single filers (from $6,350), and to $18,000 for heads of household (from $9,350).11 These changes expire after 2025. The additional standard deduction, which the House bill would have repealed, has not been affected. In 2019, the inflation gauge used to index the standard deduction changed in a way that is likely to accelerate bracket creep (see below).


Decreasing that middle personal income tax bracket from 28 to 24% certainly nothing to sneeze at, as well as doubling that deduction amount

But getting the folks here to admit that would be like drawing blood from a stone.

I said an interesting couple of pages, as you will note every negative nancy has concentrated on everything else but the individual tax changes.

Lowering the corporate tax rate is why you have full employment at the moment, helps to stimulate the economy during a world wide growth slump, retail sector that is having a 5 year long stroke, and the effects of automation

What would that middle tax rate jump up to under Bernie? 36%?


I'm wondering how many people here bitch and moan about Trump because they like bitching and moaning...but are still going to vote for him in November, chiefly because of things like those tax cuts.

 

By the way, that middle income bracket for single filers, in Norway total tax rate would be 39%

24% in the US

Everyone's state component is what and why, total still ends up far less than 39% I bet

 

Probably none.

 

I knew you or Hotwater would be the first to pick up on that one

 

But in Norway, they get back all of those government welfare benefits!

 

It hasn't really. Despite Trump's promises we still have no wall, stuck with Obamacare, no tax cuts for the middle class. Oh but I can now be fired for my sexuality and now have old white college frat bros deciding my reproductive rights for the foreseeable future. I guess there's that

 

When it comes to class warfare, the fat cats have been practicing that on the lower income groups and middle class for decades, at least as early as the Reagan Administration. The wealth gap in the U.S. is now "at roaring twenties levels". America's Wealth Inequality Is At Roaring Twenties Levels U.S. income inequality, on rise for decades, is now highest since 1928. But from 1928 until 1973, the share of income held by the top 1 percent declined. After 1973, that trend was reversed, greatly accelerating in the Reagan Administration, which introduced trickle down economics to our fiscal policy and broke the power of the unions. From 1975 to 2010, incomes of families in the bottom 20 percent of income distribution saw only a 3.7 percent increase while those in the top five percent saw an average increase of 57%. Income Inequality in the United States Income inequality in the U.S. is now at a five decade high. The Gini Index, which measures wealth distribution, rose from .397 in 1967 to .485 in 2018. https://www.washingtonpost.com/busi...n-since-census-started-tracking-it-data-show/ From 1965 to 2016, CEO pay grew from some 20 times that of the average worker to 271 times greater, from 1965 to 2016. According to a paper from the non-partisan Economic Policy Institute, the top 1 percent of families in the United States had over 26 times the income of the bottom 99 percent. The average income of the bottom 99 percent was $50,107 per family. US income inequality continues to grow

Why did this happen? Of course, the major cause is the structural change in the labor market favoring highly skilled workers, professionals, technocrats, and the highly educated. This is largely a result of globalization, increased automation, and the decline of labor unions. Each of these factors has been helped along by government policy. Warren Buffett, the world's second richest man and leading American entrepreneur, paid a 16.5% federal tax rate while middle class workers at his company paid 25%. John Talbott, professor of finance at S P Jain School of Global Management, estimates that it takes an average income of $24,000 per year to get by with the bare necessities of life, obviously varying in income. Using that figure, he has has estimated the percent of income which earners in the various quintiles pay in taxes and as a percentage of their disposable income, as follows: Do the Rich Pay Their Fair Share of Taxes?




So that's my basis for saying that the top income group's "share of the taxes is a much smaller percentage of their income".

 

You always could be fired for your sexuality, depending what state your in, you need the relevant clause in the employment act, not the Civil rights act

 

So, he presented percentages, you retort with some guys blog with "quintiles"

Sounds legit

 

Ah, yes, the percentages:

 

Some one pays 116% of their income in tax

Sounds legit

 

On a positive note: there will likely be one casualty on the republican side and that is Republican Maine Sen. Susan Collins who according to the latest poll trails her democratic challenger by one percentage point 43% to 42%.

While the election is still 9 months away, this is the first time Collins has trailed in a poll, and all the momentum is on the side of her rival.

When she voted to acquit Trump she virtually handed over her senate seat to the democratic party.

 

Nah it stinks like my nephew's dog's foul farts after he has had Pal dog food.