Time to increase the taxes of the top 10%

J

jbander

Verified User
You have heard all these right wing clowns saying that to pay off the debt you would have to take away all the wealth of the 1% , to the exaggerated extent of all the wealth of everyone, to pay off the debt. Clown talk. Here is the fact, increase the taxes of just the top 10% by 10% you would get 963 billion increase a year. And that amount would increase at an average rate of about 4% a year, that is the historic trend.(2021 numbers). You take out Trump's disastrous 2020 increase in the debt and that amount would pay our annual debt increase a year, and with the historic increase in tax revenue. That increase will pay down the existing debt. In 25 years, that tax revenue would double to two trillion a year. One trillion over the average debt increase for the last 11 years.
 
jbander said:
You have heard all these right wing clowns saying that to pay off the debt you would have to take away all the wealth of the 1% , to the exaggerated extent of all the wealth of everyone, to pay off the debt. Clown talk. Here is the fact, increase the taxes of just the top 10% by 10% you would get 963 billion increase a year. And that amount would increase at an average rate of about 4% a year, that is the historic trend.(2021 numbers). You take out Trump's disastrous 2020 increase in the debt and that amount would pay our annual debt increase a year, and with the historic increase in tax revenue. That increase will pay down the existing debt. In 25 years, that tax revenue would double to two trillion a year. One trillion over the average debt increase for the last 11 years.
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Ok taken away every loophole and deduction and make people pay taxes based on their gross or net income. You choose but EVERYBODY must pay taxes.
 
The US empire makes more money selling drugs and weapons than from taxes. We sent $110 billion to Ukraine in the last 10 months while our infrastructure crumbles.
 
Yakuda said:
Ok taken away every loophole and deduction and make people pay taxes based on their gross or net income. You choose but EVERYBODY must pay taxes.
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Of course we know that the rich pay, a small percentage of the taxes they actually owe. Let's take trump as one example, his taxes were not audited because they were too complex for the IRS to understand. That applies to most of the very wealthy, its much easier to take your short return and determine that you still owe them $75.00.
 
$10,000
Starting with the 2018 tax year, the maximum SALT deduction became $10,000. There was previously no limit. This will leave some high-income filers with a higher tax bill. The limit is also important to know because the 2022 standard deduction is $12,950 for single filers and $13,850 in 2023.Jan 5, 2023

Changes to the State and Local Tax (SALT) Deductionhttps://smartasset.com › taxes › trumps-plan-to-eliminate-t...
 
floridafan said:
If you know about it, there was no reason for your post, so obviously you didn't.
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I know what our criminal government is doing. They are squeezing all the money from the bottom and funneling it to the top. Why would they tax the top?
 
goat said:
I know what our criminal government is doing. They are squeezing all the money from the bottom and funneling it to the top. Why would they tax the top?
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Nothing to do with criminal my dear, just poorly trained agents and definitely not enough of them. Its a shame we dont really get the 87,000 new agents that you right winger lie about.
 
floridafan said:
Nothing to do with criminal my dear, just poorly trained agents and definitely not enough of them. Its a shame we dont really get the 87,000 new agents that you right winger lie about.
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So you want to raise taxes to pay for more government agents?
 
floridafan said:
Of course we know that the rich pay, a small percentage of the taxes they actually owe. Let's take trump as one example, his taxes were not audited because they were too complex for the IRS to understand. That applies to most of the very wealthy, its much easier to take your short return and determine that you still owe them $75.00.
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This has absolutely NOTHING to do with what I wrote.
 
goat said:
So you want to raise taxes to pay for more government agents?
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What ever we have to pay for additional trained agents will come back to the treasury many times over. I would think you would be upset with people who aren't paying their fair share.
 
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