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Old 01-10-2018, 12:21 PM  
gblowfish gblowfish is offline
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Here's Where Pfizer is going with their $5 billion tax cut

Buying back their stock, enriching stock holders, laying off researchers. Making America Great Again!

http://www.latimes.com/business/hilt...108-story.html
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Old 01-11-2018, 06:00 PM   #91
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Originally Posted by IowaHawkeyeChief View Post
I don't know what the **** your question is... You use finite and infinite

Wealth grows and can grow quickly. Would it be nice if living wages increase, of course. It's not going to happen until you control the supply of low skill labor flowing into this country. This wealth is redistributed as capital gains taxes and through spending by those with wealth. Critics of the bill were worried, those who understand the bill weren't. We are seeing a great benefit to millions of workers, but you would prefer a socialist society and that is not what we are or will ever become, at least without a fight. This tax cut is good for America and will be especially good to those folks who's wages have been stagnant or their jobs being moved overseas.
We'll see.
Quote:
What is your ideal tax structure?
A progressive tax where the higher earners pay a larger percentage of taxes. The more money you make, the smaller percentage of your money goes into your cost of living.

A larger standard deduction or the ability to deduct cost of living expenses. Businesses get to deduct rent/mortgage payments and utilities, why shouldn't citizens?
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Old 01-11-2018, 06:05 PM   #92
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Originally Posted by Jim Hammer View Post
We'll see.

A progressive tax where the higher earners pay a larger percentage of taxes. The more money you make, the smaller percentage of your money goes into your cost of living.

A larger standard deduction or the ability to deduct cost of living expenses. Businesses get to deduct rent/mortgage payments and utilities, why shouldn't citizens?
This is happening now. The top 20% pay 95% of all income taxes now:

http://www.washingtonexaminer.com/om...rticle/2638746

What's an acceptable amount for you?

The standard deduction is doublin under the new tax plan and 47% of Americans will pay $0 in Federal income tax.

http://www.chicagotribune.com/busine...109-story.html

It's pretty hard to get more progressive. It sounds like you should favor the new tax plan based on your comments!
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Old 01-11-2018, 08:10 PM   #93
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Quote:
Originally Posted by IowaHawkeyeChief View Post
This is happening now. The top 20% pay 95% of all income taxes now:

http://www.washingtonexaminer.com/om...rticle/2638746

What's an acceptable amount for you?

The standard deduction is doublin under the new tax plan and 47% of Americans will pay $0 in Federal income tax.

http://www.chicagotribune.com/busine...109-story.html

It's pretty hard to get more progressive. It sounds like you should favor the new tax plan based on your comments!
I think we've already had that conversation, but I think the top 20% should still pay more.
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Old 01-11-2018, 08:19 PM   #94
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Originally Posted by Jim Hammer View Post
I think we've already had that conversation, but I think the top 20% should still pay more.
How much more 96, 97, 98, 99 or 100%?
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Old 01-11-2018, 10:40 PM   #95
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Quote:
Originally Posted by IowaHawkeyeChief View Post
This is happening now. The top 20% pay 95% of all income taxes now:

http://www.washingtonexaminer.com/om...rticle/2638746

What's an acceptable amount for you?

The standard deduction is doublin under the new tax plan and 47% of Americans will pay $0 in Federal income tax.

http://www.chicagotribune.com/busine...109-story.html

It's pretty hard to get more progressive. It sounds like you should favor the new tax plan based on your comments!

I did some research and it looks like the top 25% pays about 87% of all income taxes.
The last year listed was 2014, but I doubt that total shot up to 95% last year.

Considering that top 20% has 89% of the wealth (I couldn't find a site with a breakdown of top 25%), I think they can afford to pay a little more.
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Old 01-11-2018, 10:47 PM   #96
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Quote:
Originally Posted by Jim Hammer View Post

I did some research and it looks like the top 25% pays about 87% of all income taxes.
The last year listed was 2014, but I doubt that total shot up to 95% last year.

Considering that top 20% has 89% of the wealth (I couldn't find a site with a breakdown of top 25%), I think they can afford to pay a little more.
WTF is that? I'm not sure where household income levels are relative to percentages (and I don't feel like Googling it), but that's offensive. That's a very unAmerican thing to say.
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Old 01-12-2018, 08:25 AM   #97
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Originally Posted by Jim Hammer View Post

I did some research and it looks like the top 25% pays about 87% of all income taxes.
The last year listed was 2014, but I doubt that total shot up to 95% last year.

Considering that top 20% has 89% of the wealth (I couldn't find a site with a breakdown of top 25%), I think they can afford to pay a little more.
You want to simulate a wealth tax (at the aggregate level) with the income tax. I’m opposed to that idea.

Would you be ok with replacing the income tax with a direct tax on wealth?
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Old 01-12-2018, 09:08 AM   #98
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Originally Posted by Jim Hammer View Post

I did some research and it looks like the top 25% pays about 87% of all income taxes.
The last year listed was 2014, but I doubt that total shot up to 95% last year.

Considering that top 20% has 89% of the wealth (I couldn't find a site with a breakdown of top 25%), I think they can afford to pay a little more.
My link was current data from the OBM -Office of Budget Management. Maybe you should read links before you dispute them...

What your advocating for isn't a progressive system, If the top pay all the taxes and 80% wouldn't... How do you think that would work out for growth?
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Old 01-12-2018, 12:36 PM   #99
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Originally Posted by patteeu View Post
You want to simulate a wealth tax (at the aggregate level) with the income tax. I’m opposed to that idea.

Would you be ok with replacing the income tax with a direct tax on wealth?
I'm not an economist. I just want to see a more even distribution of wealth in this country.
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Old 01-12-2018, 12:45 PM   #100
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Originally Posted by IowaHawkeyeChief View Post
My link was current data from the OBM -Office of Budget Management. Maybe you should read links before you dispute them...
When the two turned to the taxes the rich pay, Mulvaney declared, "The top 20 percent of folks who file a tax return, the top 20 percent, pay 95 percent of the taxes."

I don't know where he got that number from because there is no source. My source shows for years that the top 25% have paid no more than 87.11% going back to 1980. So how did it all of a sudden jump up to 95% for the top 20%?
Quote:
What your advocating for isn't a progressive system, If the top pay all the taxes and 80% wouldn't... How do you think that would work out for growth?
I never said those below pay no taxes. Just tax the top a little more.

We've got to find a way to remedy the wealth inequality in this country.
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Old 01-12-2018, 01:03 PM   #101
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Originally Posted by Jim Hammer View Post
I'm not an economist. I just want to see a more even distribution of wealth in this country.
Would you like our country better if we deported the top 1% to make the distribution of wealth more even?
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Old 01-12-2018, 01:08 PM   #102
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Originally Posted by Jim Hammer View Post
I'm not an economist. I just want to see a more even distribution of wealth in this country.

It is quite evenly distributed now. What you want is distribution that fits some idea of fairness.
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Old 01-12-2018, 01:20 PM   #103
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Originally Posted by HonestChieffan View Post
It is quite evenly distributed now. What you want is distribution that fits some idea of fairness.


http://www.businessinsider.com/inequ...u-think-2015-6
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Old 01-12-2018, 02:44 PM   #104
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I'm not an economist. I just want to see a more even distribution of wealth in this country.
It's totally even, people get what they earn.

Work harder man!! Or perhaps work smarter!
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Old 01-12-2018, 02:47 PM   #105
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Without monetary values in that chart, it's rather meaningless. I get proportions, but what's the Y axis?
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