Liberal Forum

*Huey » 23 May 2025, 11:32 am » wrote: ↑

23 May 2025, 11:32 am

Don't care about poor people?  Yet you are the one against a bill that won't raise their taxes.  Their tips won't be taxes.  Their overtime won't be taxed.  **** you and your faux support.

their tips are not what will bring the deficit up. nor are that salt taxes. what will bankrupt the country  is millionaires and billionaires paying little to no taxes. as for waitress tips and salt taxes I would agree with relief.  and fyi trump is the one who screwed up the salt taxes during his first term.

the billionaires and millionaires not paying taxes is what will bring the country to financial ruin and screwing up social security for your children and grandchildren. not that you care anyway.
 

jerrab » 23 May 2025, 12:00 pm » wrote: ↑

23 May 2025, 12:00 pm

their tips are not what will bring the deficit up. nor are that salt taxes. what will bankrupt the country  is millionaires and billionaires paying little to no taxes. as for waitress tips and salt taxes I would agree with relief.  and fyi trump is the one who screwed up the salt taxes during his first term.

the billionaires and millionaires not paying taxes is what will bring the country to financial ruin and screwing up social security for your children and grandchildren. not that you care anyway.

Post the portion of the bill, with a link, that shows millionaires and billionaires are not paying their taxes.

Thanks in advance.

jerrab » 23 May 2025, 11:51 am » wrote: ↑

23 May 2025, 11:51 am

more bs from the mother **** who wants billionaires to pay as less taxes as possible.

Again, junior, post the portion of the bill that supports your talking points.

jerrab » 23 May 2025, 12:00 pm » wrote: ↑

23 May 2025, 12:00 pm

their tips are not what will bring the deficit up. nor are that salt taxes. what will bankrupt the country  is millionaires and billionaires paying little to no taxes. as for waitress tips and salt taxes I would agree with relief.  and fyi trump is the one who screwed up the salt taxes during his first term.

the billionaires and millionaires not paying taxes is what will bring the country to financial ruin and screwing up social security for your children and grandchildren. not that you care anyway.

Odd, AARP hasn't got the message yet.

https://www.aarp.org/money/taxes/income ... C-EALw_wcB

*Huey » 23 May 2025, 12:28 pm » wrote: ↑

23 May 2025, 12:28 pm

Again, junior, post the portion of the bill that supports your talking points.

Billionaires in the United States are subject to various taxes, including income tax, capital gains tax, and estate tax. However, their effective tax rate is often lower than that of ordinary citizens due to various tax loopholes and deductions.[1] According to a study by Oxfam America, the 10 richest U.S. billionaires saw their wealth increase by $365 billion over the past 12 months, and if their wealth gains were taxed like income from work, they would owe a collective $135 billion in taxes.[2]Trump's Proposed Tax ChangesTrump's proposed bill includes a provision to increase the top tax rate from 37% to 39.6% for taxable income greater than $5 million for married couples and $2.5 million for unmarried taxpayers.[3] However, due to various tax breaks and deductions, it's estimated that only 15% of the income of the wealthiest taxpayers would be subject to this higher rate.[4]Effective Tax Rate for BillionairesThe effective tax rate for billionaires is often lower than the statutory tax rate due to various tax preferences, such as the deduction for "pass-through" business income and the lower tax rate on capital gains and dividends.[5] According to a White House study, the wealthiest 400 billionaire families in the U.S. paid an average federal individual income tax rate of just 8.2%.[6]Impact of Trump's Bill on Billionaire TaxationThe impact of Trump's bill on billionaire taxation is complex and depends on various factors, including the specific provisions of the bill and the individual circumstances of each billionaire. However, it's estimated that the bill would result in a relatively small increase in tax revenue from the wealthiest taxpayers.[7]The billionaires would likely pay a relatively low effective tax rate, potentially around 8.2% or slightly higher, due to various tax loopholes and deductions, despite Trump's proposed increase in the top tax rate.ConclusionIn conclusion, Trump's bill has been criticized for its potential to benefit the wealthy and large corporations at the expense of ordinary citizens. While the bill includes some provisions aimed at increasing tax revenue from the wealthiest taxpayers, its overall impact on billionaire taxation is likely to be limited.Authoritative Sources

jerrab » 23 May 2025, 12:35 pm » wrote: ↑

23 May 2025, 12:35 pm

Billionaires in the United States are subject to various taxes, including income tax, capital gains tax, and estate tax. However, their effective tax rate is often lower than that of ordinary citizens due to various tax loopholes and deductions.[1] According to a study by Oxfam America, the 10 richest U.S. billionaires saw their wealth increase by $365 billion over the past 12 months, and if their wealth gains were taxed like income from work, they would owe a collective $135 billion in taxes.[2]Trump's Proposed Tax ChangesTrump's proposed bill includes a provision to increase the top tax rate from 37% to 39.6% for taxable income greater than $5 million for married couples and $2.5 million for unmarried taxpayers.[3] However, due to various tax breaks and deductions, it's estimated that only 15% of the income of the wealthiest taxpayers would be subject to this higher rate.[4]Effective Tax Rate for BillionairesThe effective tax rate for billionaires is often lower than the statutory tax rate due to various tax preferences, such as the deduction for "pass-through" business income and the lower tax rate on capital gains and dividends.[5] According to a White House study, the wealthiest 400 billionaire families in the U.S. paid an average federal individual income tax rate of just 8.2%.[6]Impact of Trump's Bill on Billionaire TaxationThe impact of Trump's bill on billionaire taxation is complex and depends on various factors, including the specific provisions of the bill and the individual circumstances of each billionaire. However, it's estimated that the bill would result in a relatively small increase in tax revenue from the wealthiest taxpayers.[7]The billionaires would likely pay a relatively low effective tax rate, potentially around 8.2% or slightly higher, due to various tax loopholes and deductions, despite Trump's proposed increase in the top tax rate.ConclusionIn conclusion, Trump's bill has been criticized for its potential to benefit the wealthy and large corporations at the expense of ordinary citizens. While the bill includes some provisions aimed at increasing tax revenue from the wealthiest taxpayers, its overall impact on billionaire taxation is likely to be limited.Authoritative Sources

Oh, so now you are contradicting this:

the billionaires and millionaires not paying taxes is what will bring the country to financial ruin and screwing up social security for your children and grandchildren. not that you care anyway.

which is my bitch..are they paying taxes or not?

You are an idiot.

*Huey » 23 May 2025, 12:43 pm » wrote: ↑

23 May 2025, 12:43 pm

Oh, so now you are contradicting this:

which is my bitch..are they paying taxes or not?

You are an idiot.

you are an idiot-----------------------------------------

• Significant Gains: The Penn Wharton Budget Model projects that the top 0.1% of earners could see an average increase of nearly $390,000 in after-tax income by 2026 [1]. The Congressional Budget Office (CBO) estimates that the top 10% of households would experience an income boost of 4% in 2027 and 2% in 2033 [3]. The Yale Budget Lab found that the top 20% of earners (making over $128,000 annually) would see their incomes grow by an average of $9,700 in 2027, with the top 1% gaining $63,000 [3].

*Huey » 23 May 2025, 12:43 pm » wrote: ↑

23 May 2025, 12:43 pm

Oh, so now you are contradicting this:

which is my bitch..are they paying taxes or not?

You are an idiot.

they pay little taxes.

teensy widdle taxes.

*Huey » 23 May 2025, 12:43 pm » wrote: ↑

23 May 2025, 12:43 pm

Oh, so now you are contradicting this:

which is my bitch..are they paying taxes or not?

You are an idiot.

 

------------------------------------Trump's tax bill is designed to benefit billionaires for several reasons, primarily rooted in the economic philosophy of supply-side economics and the political dynamics surrounding tax policy.First, the proposed tax cuts are framed as a means to stimulate economic growth. Proponents argue that by reducing taxes on the wealthy and corporations, there will be increased investment in businesses, which is expected to lead to job creation and wage growth. This aligns with Trump's assertion that his tax policies will result in significant economic benefits for all Americans, as he claims that wealth generated at the top will "trickle down" to lower-income individuals through job creation and higher wages[1]. However, critics argue that this approach disproportionately favors the wealthy without delivering substantial benefits to middle- and lower-income families[2].Second, the legislation includes provisions that specifically target high-income earners. For instance, it aims to make permanent the tax cuts from the 2017 Tax Cuts and Jobs Act (TCJA), which significantly reduced tax rates for corporations and high-income individuals[3]. According to analyses, while taxpayers across various income levels would receive some form of tax relief, a larger share of benefits would accrue to wealthier households. For example, households making over $450,000 would receive a disproportionate percentage of total tax cuts compared to those earning less[4].Additionally, Trump's administration has been criticized for prioritizing tax cuts for billionaires while proposing cuts to essential social programs like Medicaid and SNAP (food stamps). These proposed cuts are projected to save hundreds of billions of dollars but would adversely affect millions of low-income Americans who rely on these services[5]. Critics argue that this strategy effectively shifts financial resources from vulnerable populations to wealthier individuals under the guise of fiscal responsibility[6].Moreover, there is evidence suggesting that since the implementation of previous tax cuts under Trump’s administration, billionaire wealth has surged dramatically. Reports indicate that billionaires' collective fortunes have increased significantly since the TCJA was enacted in 2017[7]. This raises concerns about whether such policies are genuinely aimed at benefiting average Americans or if they primarily serve to enrich those already at the top.In summary, Trump's tax bill appears designed to benefit billionaires through permanent tax reductions aimed at high-income earners and corporations while simultaneously proposing cuts to social safety nets that support lower-income families. This reflects a broader trend in U.S. fiscal policy where significant financial advantages are often granted to wealthier individuals under the premise of stimulating economic growth.

jerrab » 23 May 2025, 12:52 pm » wrote: ↑

23 May 2025, 12:52 pm

you are an idiot-----------------------------------------

• Significant Gains: The Penn Wharton Budget Model projects that the top 0.1% of earners could see an average increase of nearly $390,000 in after-tax income by 2026 [1]. The Congressional Budget Office (CBO) estimates that the top 10% of households would experience an income boost of 4% in 2027 and 2% in 2033 [3]. The Yale Budget Lab found that the top 20% of earners (making over $128,000 annually) would see their incomes grow by an average of $9,700 in 2027, with the top 1% gaining $63,000 [3].

And they will still pay more in taxes than you will ever see in your miserable existence.

jerrab » 23 May 2025, 12:54 pm » wrote: ↑

23 May 2025, 12:54 pm

they pay little taxes.

teensy widdle taxes.

LMAO!  This is what happens when you watch to much Rachel Maddow.

jerrab » 23 May 2025, 1:05 pm » wrote: ↑

23 May 2025, 1:05 pm

------------------------------------Trump's tax bill is designed to benefit billionaires for several reasons, primarily rooted in the economic philosophy of supply-side economics and the political dynamics surrounding tax policy.First, the proposed tax cuts are framed as a means to stimulate economic growth. Proponents argue that by reducing taxes on the wealthy and corporations, there will be increased investment in businesses, which is expected to lead to job creation and wage growth. This aligns with Trump's assertion that his tax policies will result in significant economic benefits for all Americans, as he claims that wealth generated at the top will "trickle down" to lower-income individuals through job creation and higher wages[1]. However, critics argue that this approach disproportionately favors the wealthy without delivering substantial benefits to middle- and lower-income families[2].Second, the legislation includes provisions that specifically target high-income earners. For instance, it aims to make permanent the tax cuts from the 2017 Tax Cuts and Jobs Act (TCJA), which significantly reduced tax rates for corporations and high-income individuals[3]. According to analyses, while taxpayers across various income levels would receive some form of tax relief, a larger share of benefits would accrue to wealthier households. For example, households making over $450,000 would receive a disproportionate percentage of total tax cuts compared to those earning less[4].Additionally, Trump's administration has been criticized for prioritizing tax cuts for billionaires while proposing cuts to essential social programs like Medicaid and SNAP (food stamps). These proposed cuts are projected to save hundreds of billions of dollars but would adversely affect millions of low-income Americans who rely on these services[5]. Critics argue that this strategy effectively shifts financial resources from vulnerable populations to wealthier individuals under the guise of fiscal responsibility[6].Moreover, there is evidence suggesting that since the implementation of previous tax cuts under Trump’s administration, billionaire wealth has surged dramatically. Reports indicate that billionaires' collective fortunes have increased significantly since the TCJA was enacted in 2017[7]. This raises concerns about whether such policies are genuinely aimed at benefiting average Americans or if they primarily serve to enrich those already at the top.In summary, Trump's tax bill appears designed to benefit billionaires through permanent tax reductions aimed at high-income earners and corporations while simultaneously proposing cuts to social safety nets that support lower-income families. This reflects a broader trend in U.S. fiscal policy where significant financial advantages are often granted to wealthier individuals under the premise of stimulating economic growth.

also remember it will increase the national debt, screw up social security among other things. but those who hate their grandchildren obviously don't care.

*Huey » 23 May 2025, 1:08 pm » wrote: ↑

23 May 2025, 1:08 pm

LMAO!  This is what happens when you watch to much Rachel Maddow.

you are what happens when you watch only fox news.

*Huey » 23 May 2025, 1:08 pm » wrote: ↑

23 May 2025, 1:08 pm

LMAO!  This is what happens when you watch to much Rachel Maddow.

---------------------------------

1. Recent analyses report that U.S. billionaires—numbering around 800—hold between approximately US$6 trillion and US$6.22 trillion in aggregate wealth.[1]----------------------------------------

which is taxed very little


 

jerrab » 23 May 2025, 1:20 pm » wrote: ↑

23 May 2025, 1:20 pm

which is taxed very little----------------------------------

1. Recent analyses report that U.S. billionaires—numbering around 800—hold between approximately US$6 trillion and US$6.22 trillion in aggregate wealth.[1]

You just said they don't pay any taxes.  And theamountthey hold has o bearing on our ability to get our own money.

*Huey » 23 May 2025, 1:21 pm » wrote: ↑

23 May 2025, 1:21 pm

You just said they don't pay any taxes.  And theamountthey hold has o bearing on our ability to get our own money.

I never said they no taxes.

*Huey » 23 May 2025, 1:21 pm » wrote: ↑

23 May 2025, 1:21 pm

You just said they don't pay any taxes.  And theamountthey hold has o bearing on our ability to get our own money.

--------------------------- billionaires generally pay significantly lower effective tax rates compared to ordinary people, with averages around 8.2% for the wealthiest families versus higher rates for middle-class workers who often pay between 12% and 25% depending on their circumstances. 

jerrab » 23 May 2025, 1:20 pm » wrote: ↑

23 May 2025, 1:20 pm

---------------------------------

1. Recent analyses report that U.S. billionaires—numbering around 800—hold between approximately US$6 trillion and US$6.22 trillion in aggregate wealth.[1]----------------------------------------

which is taxed very little

12 -8 = 4

4 per cent less.

6.000.000.000

2.4 billions of dollars not taxed,

jerrab » 23 May 2025, 1:30 pm » wrote: ↑

23 May 2025, 1:30 pm

--------------------------- billionaires generally pay significantly lower effective tax rates compared to ordinary people, with averages around 8.2% for the wealthiest families versus higher rates for middle-class workers who often pay between 12% and 25% depending on their circumstances.

And that would be 82 million dollars on a billion dollars.  Only a idiot would claim that is very little.  I have to remember you are an idiot.

*Huey » 23 May 2025, 1:38 pm » wrote: ↑

23 May 2025, 1:38 pm

And that would be 82 million dollars on a billion dollars.  Only a idiot would claim that is very little.  I have to remember you are an idiot.

I did not say per person. I was trying to figure how money would be added if billionaire were taxed like ordinary people.

multiple analyses suggest that if the ultra‐rich, including billionaires, paid taxes on all their wealth and income at rates comparable to those paid by typical high‐income earners, the additional tax revenue could easily run into the hundreds of billions of dollars every year.For example, one influential line of evidence comes from proposals and analyses that indicate if unrealized gains (which currently are minimally taxed) were taxed at rates near the top ordinary income rate of about 37%, then just the capital gains of the ultra‐rich would yield roughly $120 billion each year. In another assessment, experts at Americans for Tax Fairness have shown that a modest 3% wealth tax on individuals with fortunes above $1 billion—which would affect just the top 10 or so wealthiest Americans—could raise more than $50 billion annually. Proponents of further taxing billionaire “income” have estimated that coordinated efforts (such as a global minimum tax on billionaires’ effective income or wealth) might allow governments to collect an additional $250 billion per year from this very small group, thereby addressing growing inequality and funding major public priorities [1] [2].
  In contrast, many billionaires have historically paid effective rates as low as 3–8% on their reported individual income, largely due to tax rules that favor returns on wealth (like capital gains) over wages [3] [4].In summary, if billionaires were required to pay what many policy experts argue is their “fair share,” the extra revenue—when aggregated across the wealthiest few thousand Americans—could be in the several-hundred–billion–dollar range per year. This extra tax revenue might then be used to fund significant public investments in areas such as healthcare, infrastructure, climate action, and social safety net programs.Authoritative Sources

1. How Much Federal Income Tax Do the Rich Pay? [Heritage Foundation]↩
2. Do the Rich Pay Their Fair Share? [Oxfam America]↩
3. Super-Rich Pay Effective Tax Rates [Tax Foundation]↩
4. It’s Time to Tax the Billionaires [New York Times]↩

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