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Tax The Rich!

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The bottom 50%of Americans have around 4 trillion in wealth. The top 50% of Americans have around 156 trillion in wealth. That is what "trickle down" has gotten us. So I say tax the hell out of them! I also have some memes on that matter.

eisenhower.webp

Truman.webp

trickle down BS.webp
 
https://www.bradstreetcpas.com/blog/what-the-top-1-really-pays-the-irs

"The top 1%: This group includes 1.5 million tax returns with adjusted gross incomes (AGI) above $663,000. These people made up 22.4% of the country’s total reported earnings, yet their share of income taxes paid was nearly double that at 40.4%. (See the nearby chart.) Their average federal tax rate was 26.1%.

To put this in Bernie’s terms, is paying two times more in taxes than your share of income “fair”? We’d say it’s closer to punitive, especially since many of these taxpayers are “rich” for only a narrow window of their highest-earning years.

Between the top 1% and 5%: About 6.2 million returns above $262,000 but below $663,000. These people had 15.9% of total earnings, while contributing 20.6% of income-tax revenue. Average tax rate: 18.8%.

Between the top 5% and 10%: About 7.7 million returns above at least $179,000 but below the previous the top 5%. Their share of earnings, 11.1%, almost matched their share of taxes paid, also 11%. Average tax rate: 14.3%.

Between the top 10% and 25%: About 23.1 million returns above at least $100,000. Share of income: 20.5%. Share of tax: 15.2% Average tax rate: 10.7%.

Between the top 25% and 50%: About 38.5 million returns above at least $50,000. Share of income: 18.6%. Share of tax: 9.9%. Average tax rate: 7.7%.

The bottom 50%: About 76.9 million returns with earnings under $50,000. Share of income: 11.5%. Share of tax: 3%. Average tax rate: 3.7%."
 
Loulit01 said:
Let's make an immoral serial adulterer president so he can put the richest man in the world in charge of austerity.

We deserve whatever we get.
Click to expand...

I don't deserve it. You would also benefit by reading my thread, "Did Trump Steal The Election?"
 
Str8shooter said:
https://www.bradstreetcpas.com/blog/what-the-top-1-really-pays-the-irs

"The top 1%: This group includes 1.5 million tax returns with adjusted gross incomes (AGI) above $663,000. These people made up 22.4% of the country’s total reported earnings, yet their share of income taxes paid was nearly double that at 40.4%. (See the nearby chart.) Their average federal tax rate was 26.1%.

To put this in Bernie’s terms, is paying two times more in taxes than your share of income “fair”? We’d say it’s closer to punitive, especially since many of these taxpayers are “rich” for only a narrow window of their highest-earning years.

Between the top 1% and 5%: About 6.2 million returns above $262,000 but below $663,000. These people had 15.9% of total earnings, while contributing 20.6% of income-tax revenue. Average tax rate: 18.8%.

Between the top 5% and 10%: About 7.7 million returns above at least $179,000 but below the previous the top 5%. Their share of earnings, 11.1%, almost matched their share of taxes paid, also 11%. Average tax rate: 14.3%.

Between the top 10% and 25%: About 23.1 million returns above at least $100,000. Share of income: 20.5%. Share of tax: 15.2% Average tax rate: 10.7%.

Between the top 25% and 50%: About 38.5 million returns above at least $50,000. Share of income: 18.6%. Share of tax: 9.9%. Average tax rate: 7.7%.

The bottom 50%: About 76.9 million returns with earnings under $50,000. Share of income: 11.5%. Share of tax: 3%. Average tax rate: 3.7%."
Click to expand...

To hell with all your bullshit. The bottom 50% of Americans have around 4 trillion in wealth. The top 50% have around 156 trillion in wealth. That is all that matters.
 
The OBBB slashes vital programs like Medicaid, Medicare, and the Supplemental Nutrition Assistance Program (SNAP, formerly food stamps) to pay for tax cuts that disproportionately benefit the wealthiest Americans. This blog looks at just some of the new law’s provisions, many of which will go into effect over the coming years, causing confusion about when and why people are losing their benefits.
www.lwv.org

What is the “One Big Beautiful Bill” and Its Impact? | League of Women Voters

On July 4th, the President signed into law the One Big Beautiful Bill Act (OBBB), a nearly 1,000-page bill that changes federal spending levels by stripping tens of millions of our most vulnerable neighbors of their health care and nutrition. The OBBB slashes vital programs like Medicaid...
www.lwv.org www.lwv.org
www.mecep.org

How Trump’s “Big Beautiful Bill” further enriches the rich and immiserates the poor - MECEP

Dive deeper into Trump's big beautiful bill (OBBBA): tax cuts for the rich, little change for the middle class, and cuts for the poor.
www.mecep.org www.mecep.org
 
Str8shooter said:
I've seen the universal healthcare in Russia firsthand. No, thank you!
Click to expand...

Screw Russia. Let's stick with civilized countries like in Europe. It works for them. Also, each year in the U.S. around 550,000 families go bankrupt due to medical expenses. Also around 78% of them had private medical insurance! Don't believe it? Look it up.
 
Highlight said:
Screw Russia. Let's stick with civilized countries like in Europe. It works for them. Also, each year in the U.S. around 550,000 families go bankrupt due to medical expenses. Also around 78% of them had private medical insurance! Don't believe it? Look it up.
Click to expand...
Against stupidity the very gods themselves contend in vain.

Friedrich Schiller
 
It doesn't matter how bad inequality in the US gets as you have a section of society who've been completely conned into thinking trickledown will eventually work if we allow the rich to just get massively richer.

Those people will happily see all public services completely underfunded to the point where they're unworkable if they can give the rich even more tax cuts.
They also think having basics like the same holiday as the rest of the world is somehow impossible in the US.
 
Loulit01 said:
Russia is a dictatorship, thus a ridiculous comparison.
Click to expand...
And forcing employers to provide healthcare and sky high salaries isn't doctoral?
 
Rich pay a massive percentage of total tax.
 
It's time for the PBS Saturday morning cartoons!
 
Highlight said:
To hell with all your bullshit. The bottom 50% of Americans have around 4 trillion in wealth. The top 50% have around 156 trillion in wealth. That is all that matters.
Click to expand...
Why is that all that matters? Is jealousy the only thing in the universe that matters to you? Belarus is also pretty low on the Gini coefficient, but I think I'd rather pick another country to live in!

Peter said:
There's also Canada, Europe and Australia so what point are you trying to make?
Click to expand...
That his map is useless and proves nothing whatsoever, because making something "universal" on paper doesn't mean much.
 
Cosmo said:
Why is that all that matters? Is jealousy the only thing in the universe that matters to you? Belarus is also pretty low on the Gini coefficient, but I think I'd rather pick another country to live in!


That his map is useless and proves nothing whatsoever, because making something "universal" on paper doesn't mean much.
Click to expand...

Erm, try telling that to the tens of millions of people in Canada, Europe and Australia who get treatment for free at the point of service every year.

People in those countries don't go bankrupt because they have a heart attack.
 
Peter said:
Erm, try telling that to the tens of millions of people in Canada, Europe and Australia who get treatment for free at the point of service every year.

People in those countries don't go bankrupt because they have a heart attack.
Click to expand...
If it's so great, you have to wonder why some would go abroad to get medical care, particularly to a country like the USA.
www.cma.ca

How many Canadians go to the U.S. for health care?

How many Canadians go to the U.S. for health care? While medical tourism is a known trend, data on Canadians seeking U.S. care is limited. Explore the myths, motivations, and health system differences driving cross-border medical visits
www.cma.ca www.cma.ca
While it’s not known exactly how many Canadians go to the U.S. for health care, according to a poll conducted by Ipsos in March 2024, 42% of Canadians would go to the U.S. and personally pay for routine health care if needed. That’s 10% more when compared to January 2023. Of those who responded, 38% said that they would travel to the U.S. for emergency care, a number that's up 9% from the previous year.
Click to expand...


thehealthinsider.ca

The Rise of Medical Tourism | The Health Insider

From knee surgeries to stem cell therapy: What's driving Canadians to skip the line at home and head out of the country for medical tourism?
thehealthinsider.ca thehealthinsider.ca
It should come as no surprise that in recent years, the number of Canadians seeking medical tourism abroad has risen steadily.
Click to expand...
Canadians seeking medical care abroad are a lot more measurable and are engaging in medical tourism in what is likely much higher numbers than reported. From 2017 to 2021, Canadians spent as much as $2.3 billion on out-of-country health care. According to reports published by the Fraser Institute, over 50,000 Canadians left the country in 2022 and that was a big jump over the previous years. The numbers continue to climb dramatically.
Click to expand...
 
Cosmo said:
If it's so great, you have to wonder why some would go abroad to get medical care, particularly to a country like the USA.
www.cma.ca

How many Canadians go to the U.S. for health care?

How many Canadians go to the U.S. for health care? While medical tourism is a known trend, data on Canadians seeking U.S. care is limited. Explore the myths, motivations, and health system differences driving cross-border medical visits
www.cma.ca www.cma.ca



thehealthinsider.ca

The Rise of Medical Tourism | The Health Insider

From knee surgeries to stem cell therapy: What's driving Canadians to skip the line at home and head out of the country for medical tourism?
thehealthinsider.ca thehealthinsider.ca
Click to expand...

On the other hand you had US athletes at the Olympics in Paris who were lining up for medical procedures while they were at the games.

I wonder why?
 
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