Are you paying your Fair Share of Taxes
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Feel free to reply to any comment by clicking the "Reply" button.There's also the fact that capital gains tax is much lower than income tax. The very wealthy make huge portions of their money through the investments of the money they already have, that is a gigantic part of their income, and yet, it's taxed at a much lower rate than the tax on the wage that the poor guy makes from working some average Joe job.
Also, people are able to write off for mortgages. Poor people mostly rent, and there's no break for that. But all the mortgages that wealthy people have on all the property they own is a write off.
And finally, the estate tax only applies to the wealthiest of the wealthy. It only kicks in when inheriting something like 12 million. And of course, you can get around that by splitting your estate up between multiple inheritors.
And finally finally, there is no wealth tax at all. This is why some people are able to amass tens of billions.
RoboGraham
Level 8
Mar 5, 2021
1
As the Link Shows. Billionaires pay a smaller percentage of their income in Taxes than the working poor pay. Not only is the US tax system not progressive, it also transfers wealth from the poor to the rich. This happened before when President Calvin Coolidge and President Hoover (Both Republicans ) lowered taxes on the Rich in the same way Reagan did in the 80's. There was an explosion in income inequality that ended up causing the Great Depression, and It was FDR that started to tax the rich again. Now we see history repeating itself. At some point this income inequality will become a burden to the economy that cannot remain and the Pendulum will swing the other way again. And you can be sure it won't be a Republican President that does this. So supporting Democrats may be the best way to get to this in the shortest time span. But it may take a decade or more before we see signs that income inequality is finally being dealt with as a problem that needs solving
Supporting democrats is not the answer. We need to support socialists who will threaten the democrats and force them to take the working class seriously again. This is how FDR's hand was forced and we got the New Deal out of it.
@RoboGraham So Vote for Bernie at the Primary. And vote for who ever emerges at the general.
But do it within the Democratic Party. It's your best bet.
I tried that, they made damn sure Bernie had no chance of winning. The second time, I voted for Bernie then voted Green. I'll never associate with the undemocratic party again. There is no good that can come of it.
@RoboGraham Then there is No Hope. You might as well just lie down and take it. What good will that do you?
Assuming you're right about that, which you could be, but not necessarily, at the very least, it will do me the good of not having been a part of the evil that the party and my country are perpetrating.
What they are doing is not sustainable. It will have to come crashing down at some point. Alternative parties need to be ready to influence, and hopefully, take over when the crisis comes.
@RoboGraham So work within the Democratic Party. Help strengthen it's progressive wing.
Please stop suggesting that. It's not possible. The progressive wing is a farce.
@RoboGraham The glass is half full where I come from.
The glass is always full no matter where you come from.
Payroll and sales taxes are very regressive. The payroll tax gap is justified by the rich and their allies because the rich don't need Medicare or SS, and they also don't feel any obligation to support programs they don't need just to help their workers who create their wealth or pick their cotton, so to speak. They have disengaged themselves from the working class and they can get away with it because they own the government and they no longer need most of us, as workers or even as consumers of their products and services.
TomMcGiverin
Level 8
Mar 5, 2021
2
Completely agree with what you said. BUT why did we let the wealthy disengage and not feel they have to contribute to society as a whole. And can we change this now
@dermot235 Beats me. Tens of millions of us should have been after them with pitchforks, as well as after the pols they bought to screw us over. Maybe we let it happen out of a naive belief that the rich and the pols would never destroy or cut SS or Medicare. But that is now proving to be a foolish belief. As far as changing it, I have lost hope ever since Bernie lost again and then gave up. If he and AOC seriously tried to start a third party, I might have hope again.
If our pols were actually responsive to the masses, we would have removed the cap on SS and Medicare taxed earnings long ago, restored the income taxes back to the pre-Reagan rates, and added a wealth tax, but our bought pols have done none of those.
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