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Thread: What purpose did the tax cut for the wealthiest serve?

  1. #911
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    Re: What purpose did the tax cut for the wealthiest serve?

    Quote Originally Posted by TurtleDude View Post
    You continually are confused about the percentage of one's income they pay versus their share of the income tax. a more progressive system means the top payers pay more of the total tax burden which is what has happened

    I can only conclude that you are intentionally ignoring the truth because you cannot admit you have made such a massive error
    I've told you, I have no interest in your skewed opinion. As documented above:

    ""Over the last 40 years, the U.S. federal tax system has undergone three
    striking changes, each of which seems to move the federal tax system in
    the direction of less progressivity. First, there has been a dramatic
    decline in top marginal individual income tax rates
    . In the early 1960s, the statutory
    individual income tax rate applied to the marginal dollar of the highest incomes
    was 91 percent. This marginal tax rate on the highest incomes declined to
    28 percent by 1988, increased significantly to 39.6 percent in 1993, and fell to
    35 percent as of 2003. Second, corporate income taxes as a fraction of gross
    domestic product have fallen by half
    , from around 3.5– 4.0 percent of GDP in the
    early 1960s to less than 2 percent of GDP in the early 2000s (for example,
    Auerbach, 2006). Meanwhile, corporate profits as a share of GDP have not declined
    over the period, suggesting that capital owners—who are disproportionately of
    above-average incomes— earn relatively more net of taxes today than in the 1960s.
    Third, there has been a substantial increase in payroll tax rates financing Social
    Security retirement benefits and Medicare.
    The combined employee– employer
    payroll tax rate on labor income has increased from 6 percent in the early 1960s to
    over 15 percent in the 1990s and 2000s. Moreover, the Social Security payroll tax
    applies only up to a cap— equal to $90,000 of annual earnings in 2005—and is
    therefore a relatively smaller tax burden as incomes rise above the cap."
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

  2. #912
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    Re: What purpose did the tax cut for the wealthiest serve?

    Quote Originally Posted by TurtleDude View Post
    I see red herrings swimming. That has no relevance to me demonstrating that a few of your fellow travelers have lied when they claim that the tax system is less progressive

    How does that establish anything. You are talking about the very top one hundredth of the top bracket again.
    Yes... that is... I'm not talking about you... can't stand it can you?

  3. #913
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    Re: What purpose did the tax cut for the wealthiest serve?

    Quote Originally Posted by Catawba View Post
    I've told you, I have no interest in your skewed opinion. As documented above:

    ""Over the last 40 years, the U.S. federal tax system has undergone three
    striking changes, each of which seems to move the federal tax system in
    the direction of less progressivity. First, there has been a dramatic
    decline in top marginal individual income tax rates
    . In the early 1960s, the statutory
    individual income tax rate applied to the marginal dollar of the highest incomes
    was 91 percent. This marginal tax rate on the highest incomes declined to
    28 percent by 1988, increased significantly to 39.6 percent in 1993, and fell to
    35 percent as of 2003. Second, corporate income taxes as a fraction of gross
    domestic product have fallen by half
    , from around 3.5– 4.0 percent of GDP in the
    early 1960s to less than 2 percent of GDP in the early 2000s (for example,
    Auerbach, 2006). Meanwhile, corporate profits as a share of GDP have not declined
    over the period, suggesting that capital owners—who are disproportionately of
    above-average incomes— earn relatively more net of taxes today than in the 1960s.
    Third, there has been a substantial increase in payroll tax rates financing Social
    Security retirement benefits and Medicare.
    The combined employee– employer
    payroll tax rate on labor income has increased from 6 percent in the early 1960s to
    over 15 percent in the 1990s and 2000s. Moreover, the Social Security payroll tax
    applies only up to a cap— equal to $90,000 of annual earnings in 2005—and is
    therefore a relatively smaller tax burden as incomes rise above the cap."
    I guess when you have been schooled on a subject you start diverting with nonsense


    you claimed that the current federal income tax is less progressive now. That is a patent lie and you have been proven wrong. so you spew stuff that in no way contradicts the undeniable facts I have presented. The top 5% pay more of the total federal income tax bill now than the bottom 95% That was not the case 10 years ago, 20 years ago, 30 years ago, 40 years ago. So you are just being dishonest when you deny that or you start talking about social security payroll taxes etc



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    Re: What purpose did the tax cut for the wealthiest serve?

    Quote Originally Posted by Occam's Razor View Post
    Yes... that is... I'm not talking about you... can't stand it can you?
    Why are you cluttering up this thread with personal attacks that do not address the point I made ( the one that you and several other like minded types cannot rebut_)?



  5. #915
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    Re: What purpose did the tax cut for the wealthiest serve?

    Quote Originally Posted by TurtleDude View Post
    I guess when you have been schooled on a subject you start diverting with nonsense


    you claimed that the current federal income tax is less progressive now. That is a patent lie and you have been proven wrong. so you spew stuff that in no way contradicts the undeniable facts I have presented. The top 5% pay more of the total federal income tax bill now than the bottom 95% That was not the case 10 years ago, 20 years ago, 30 years ago, 40 years ago. So you are just being dishonest when you deny that or you start talking about social security payroll taxes etc
    LOL! More spin. At least you are consistent!!! You are just being dishonest in your claim that taxes are more progressive based on result of trickle down economics - fewer jobs for the middle class. Your solution - continue trickle down economics.

    Deny any of the facts shown below, if you can:

    "First, there has been a dramatic
    decline in top marginal individual income tax rates."

    "Second, corporate income taxes as a fraction of gross
    domestic product have fallen by half"

    "Third, there has been a substantial increase in payroll tax rates financing Social
    Security retirement benefits and Medicare."

    Do you really believe you are fooling the middle class with your spin?
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: What purpose did the tax cut for the wealthiest serve?

    Quote Originally Posted by TurtleDude View Post


    you claimed that the current federal income tax is less progressive now.
    Uhhh yes it it look at the last 70 years...


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    Re: What purpose did the tax cut for the wealthiest serve?

    Quote Originally Posted by Catawba View Post
    LOL! More spin. At least you are consistent!!! You are just being dishonest in your claim that taxes are more progressive based on result of trickle down economics - fewer jobs for the middle class. Your solution - continue trickle down economics.

    Deny any of the facts shown below, if you can:

    "First, there has been a dramatic
    decline in top marginal individual income tax rates."

    "Second, corporate income taxes as a fraction of gross
    domestic product have fallen by half"

    "Third, there has been a substantial increase in payroll tax rates financing Social
    Security retirement benefits and Medicare."

    Do you really believe you are fooling the middle class with your spin?
    You still wallow in error

    you are clueless about the issue, You have claimed that the federal income tax structure is less progressive today than it was in the recent past. That is a lie and yet you squirm and wriggle and divert


    that is the only issue I am dealing with right now because it is an issue you have lied about.

    stop trying to talk about payroll taxes and social security they are not relevant to the issue you have demonstrated massive mendacity on.



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    Re: What purpose did the tax cut for the wealthiest serve?

    Quote Originally Posted by TheDemSocialist View Post
    Uhhh yes it it look at the last 70 years...
    step up to the plate and find another time in that period where the top 5% paid more of the federal income tax share than the bottom 95%



  9. #919
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    Re: What purpose did the tax cut for the wealthiest serve?

    Quote Originally Posted by TurtleDude View Post
    step up to the plate and find another time in that period where the top 5% paid more of the federal income tax share than the bottom 95%
    That doesnt make it progressive...
    But if i would have to gander i would say in 1944 when the income tax was at 94% or 1946-1950 where they paid 91% or i would have to say 1952 when they paid 92% or i would have to say from 1956-1962 when they paid 89% or 1964 when it was 76% but you get my point...


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    Re: What purpose did the tax cut for the wealthiest serve?

    Quote Originally Posted by TurtleDude View Post
    An expected response from someone who admittedly has never run a business nor worked in the private sector.
    Gee Turtle - if I were you I would scream LIAR LIAR LIAR at the top of my voice. Not that I expect you to remember, but I have stated before that I have run two businesses of my own and did well with them -enough so that I am the only teacher in my neighborhood.

    Oh - and that was in the private sector. btw - just signed the contracts three weeks ago for another deal coming up around Christmas..... thats in the private sector too and has NOTHING at all to do with politics or government or teaching.
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