Why Do Trump Supporters Hate The Poor.

[bongsaway]

The things Trump is cutting go well across any racial lines.

Poor doesn't recognize color and this not about color.

 

[bongsaway]

He's not, spending remains nearly the same except it's being restricted to those legally in the country and those working if able to do so.

You guys just repeat everything your leadership says.

 

[Bullseye]

You guys just repeat everything your leadership says.

LOL, no irony or delusion or false idolatry here - none at all.
With a touch of crowd mentality thrown in.

 

[bongsaway]

LOL, no irony or delusion or false idolatry here - none at all.
With a touch of crowd mentality thrown in.

Is that supposed to mean something?

 

[Bullseye]

Is that supposed to mean something?

Sorry, did I write over your head?

 

[Mika-El]

Yes if Im paying a million and you are paying nothing, then not only am I paying more in dollar amount but in proportion and percentage as well. So what terms am I not getting?

What terms don't you get? Really? Lol.

Ok let's play dumb. Let's start with this:

"The main federal tax is the individual income tax, which accounts for roughly half of all federal revenue and which tens of millions of middle-class people pay throughout the year as employers withhold taxes from their paychecks. To a great degree, however, the income tax is essentially voluntary for the nation’s richest people. Much of their income comes in the form of gains in the value of their stocks and other assets, and they can avoid taxes on those gains if they hold on to their assets rather than sell them. When high-income households do pay tax on their income from their assets — such as capital gains and dividends — they pay at tax rates that are far lower than the tax rates they would pay on wages and salaries.

These tax breaks, which policymakers have expanded in recent years, help to widen the enormous gaps in income and wealth between the nation’s richest people and everyone else. The top 1 percent of households in terms of income receive the vast majority of capital gains and a large chunk of dividend income, and they are reaping most of the benefits of a new deduction, enacted in the 2017 tax-cut law, for what’s known as “pass-through” income, which the owners of partnerships and certain other businesses report on their individual tax returns."

source: https://www.cbpp.org/research/feder...e-wealthiest-pay-in-taxes-policymakers-should

go here:

"In fact, a new report by the U.S. Congressional Joint Committee on Taxation (JCT) highlights five regressive elements of the federal code.4 These include:

1. Low-income Americans face higher payroll tax rates than rich Americans. Americans with less than five-figure incomes pay an effective payroll tax rate of 14.1 percent, while those making seven-figure incomes or more pay just 1.9 percent.
2. Long-term capital gains and qualified dividends—both of which are forms of capital income that are taxed at lower, preferential rates—overwhelmingly accrue to the rich. The richest 0.5 percent of taxpayers receive 70.2 percent of all long-term capital gains and 43.3 percent of all dividends. Pass-through business income also overwhelmingly goes to the rich and benefits from an unjustifiable loophole.
3. The state and local tax (SALT) deduction is extremely regressive. The SALT deduction benefits 75.1 percent of taxpayers making $1 million or more, compared with less than 1 percent of those making less than $30,000. Unsurprisingly, the average millionaire deducts $317 for every $1 deducted by the very lowest-income Americans.
4. The mortgage interest deduction similarly is skewed toward the rich. The average amount deducted is $13,061 for those with at least a seven-figure income, $2,886 for those with a six-figure income, $274 for those with a five-figure income, and just $33 for those making a four-figure income or less.
5. Progressive estate and gift taxes play a dwindling role in the tax code. Estate and gift revenues have averaged just 0.1 percent of gross domestic product (GDP) since former President Donald Trump’s Tax Cuts and Jobs Act of 2017, equivalent to just half the average revenue from recent decades and one-third of the average from the decades following the New Deal"

source: https://www.americanprogress.org/article/5-little-known-facts-about-taxes-and-inequality-in-america/

cont. next post

 

[Mika-El]

To finish my earlier post to Fletch we also need to talk about tariffs, a tax on consumers you ignore in your analysis.

Trump has told you the tariffs he takes in will make America rich. Those tariffs are a consumer tax on the poor and middle class. In fact your country raises about $3tn each year from income taxes but also imports about $3tn worth of goods each year. Do the damn math. To replace income taxes, tariffs would have to be at least 100% on all imported goods and you and your fellow Americans would have to continue to import $3tn worth of goods every year. That is not at all possible.

Here you might want to try understand that the amount of taxes the wealthy pay is more than what middle or lower income people pay but that analysis is only the starting point:

This Tax Day, Billionaires Are Growing Even Richer As Families Face Cuts To Healthcare & Food Aid - Americans For Tax Fairness

U.S. Billionaires Are Worth $3.6 Trillion More Since Trump Tax Law GOP Wants to Extend This Tax Day, as last-minute filers send their returns to an Internal Revenue Services (IRS) facing the loss of half its workforce–slowing refunds, impairing customer service and enabling tax evasion by the...

americansfortaxfairness.org

Who Pays Taxes in America in 2024

America's tax system is just barely progressive, and not nearly as progressive as many suggest or as progressive as it could be. There is plenty of room for lawmakers to improve the progressivity of the tax code to combat economic, wealth, and racial inequality.

itep.org

The difference in how the wealthy make money—and pay taxes | Brookings

www.brookings.edu

Trump's Big Ugly Law Steals from the Poor to Give to the Ultra-Rich

Non-partisan analysis from the Congressional Budget Office (CBO) and Joint Committee on Taxation (JCT) shows that the bill worsens inequality, gives the ultra-rich a historic tax break, and makes working people worse off.

democrats-budget.house.gov

https://www.cbpp.org/research/federal-tax/by-the-numbers-house-republican-tax-agenda-favors-the-wealthy-and-leaves