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The only people this helps is millionaires and billionaires who don’t like paying their fair share.
Came to the section exactly for comments like this. Michael- what is their “fair share”? Be specific and show the math
Chuck – remove the Social Security cap limit. That immediately solves the problem right there
My previous comment got deleted because I wasn’t very kind to Chuck. Chuck, I don’t have to give you the numbers, smarter folks than me have done it before. Read up on the Bernie Tax plan and as extra credit, do some research on how Nordic countries, the happiest places on Earth, fund their excellent social programs which have the societal benefit of high trust in the government, high accountability to take care of their surroundings, and low crime rates. As a conservative, I imagine you are all about lower crime and a more responsible citizenry. Well, the model exists, you just have to have the curiosity to explore it. I can’t do that for you.
Chuck, when America was “great” in the 50’d and 60’s like we were all told, they paid double what they paid now.
Instead what we are getting is a push to drive them back what they were before the Great Depression, around 25%. And that’s before all the loopholes come in.
Virtually all billionaires (minus two in particular) seem to remain enthralled by the Dems, so there must be some catch to the left “tax the rich” mantra that isn’t exactly compelling them to migrate over to their former stronghold with the GOP. Could it be something to do with the amazing political favors and loopholes the ultra-wealthy enjoy with greater higher degree even among the Dems….as long as the ultra-wealthy make campaign contributions to the DNC?
A comment section of the IBJ bobbleheads wouldn’t be complete without some drooling over those lovely “Nordic” paradises, LOL. Incidentally, the only countries in Europe that seem to suffer from US-style mass shootings happen to be Norway, Finland, Denmark, etc. And have you seen the rape stats in Sweden lately? They aren’t quite the 99% Lutheran enclaves they used to be, and the social safety net is fraying rapidly.
Almost as hilarious as thinking Bernie, who is at least the most rhetorically honest of the party with whom he caucuses, is anything other than verbiage. When put under the gun (as he clearly was back in 2015 by Debbie W-S), the “independent” Bernie Sanders immediately scurries away and ducks behind the robe of his DNC overlords. As does his bratty acolyte AOC.
Typical bad-faith posturing from Lauren. Just waiting for the day she backs up these wild assertions, or rebuts others’, with actual evidence.
I’ll use numbers as Chuck suggested, courtesy of the IRS, not the Bernie Tax Plan that Michael wanted. 5% of taxpayers (the millionaires & billionaires) pay 95% of the tax revenue collected in the US. 45%-50% of eligible taxpayers don’t pay any taxes. (meaning they get it all back if they have it withheld from their check) So, the tax “redistribution” the Left calls for around every election cycle has already happened, decades ago. Also, the IRS has historically only audited 1%-2% of the tax returns filed every year for the last 20+ years, (most of those “flagged” for failing the “norms” or high risk areas) did the Yale Budget Lab take that into account when calculating those numbers?
lol go ahead and cite your sources, Rod. The closest numbers that I have been able to find is that the top 5% of earners account for about 66%, or 1.4 trillion, of the national tax revenue in 2021. That sounds like a lot until you consider that in 2024, the top 1% of earners siloed 49.2 TRILLION dollars for themselves. Donald Trump thinks little girls could do with a few fewer dolls. I think billionaires could do with a few fewer yachts and private jets.
This isn’t about paying their fair share. It’s catching those who don’t pay what the legal tax code requires they pay through false reporting. This only serves to protect cheaters. This is about law enforcement. Seems to be the only area of law enforcement wealthy conservatives want reduced. I wonder why???
+1