Why is trickle-down economics still with us?

[Hawkeye10]

Income tax makes up half of the revenue the federal govt collects. I have seen 4.4 trillion reported as revenue collected through all types of taxes. That means 2.2.trillion is from income tax and using your figure of 20% that's still 440 billion dollars. Thats a hefty number but more so if you consider that half of Americans pay $0 federal income tax.

As the federal government spends $6 trillion, not counting Federal Reserve shenanigans.

This is not sustainable.

 

[Noking]

Since I don't collect welfare I don't give a fuck you retarded squirrel.

Then why aren't you at working and earning a living rather than being on this forum post foolishness??????????????

 

[Noking]

More than you cum stain

A total zero like you is a leech on society.

 

[Poor Richard Saunders]

Income tax makes up half of the revenue the federal govt collects. I have seen 4.4 trillion reported as revenue collected through all types of taxes. That means 2.2.trillion is from income tax and using your figure of 20% that's still 440 billion dollars. Thats a hefty number but more so if you consider that half of Americans pay $0 federal income tax.

440 billion from people that are taking home $1.8 trillion after taxes. That bottom half that pay no income taxes are taking home $1.3 trillion after taxes.

So let's see..
The 73 million tax payers in the bottom 50% are averaging take home after taxes of $18,600 per tax return. Actually when you subtract FICA, they are taking home $17,250 on average.
The 1.5 million tax payers in the top 1% are taking home $1.35 million on average after taxes.

Don't you feel sorry for those poor people that have to live on $1.35 million? How can they possibly do it? They need another tax cut!!!

 

[Into the Night]

Voodoo Economics.

Another derogatory term critical of tax cuts.

 

[Into the Night]

And, what do you propose should replace it?

He already answered that question. Raise taxes.

 

[Into the Night]

But why has the public been repeatedly willing to go along with trickle-down economics when nothing ever trickles down? What accounts for the collective amnesia?

The answer is that the moneyed interests have also invested a portion of their gains in an intellectual infrastructure of economists and pundits who continue to promote this failed doctrine – along with institutions that house them, such as, in the US, the Heritage Foundation, Cato Institute and Club for Growth.

https://www.theguardian.com/commentisfree/2022/oct/09/why-is-trickle-down-economics-still-with-us

There is no such thing as 'trickle down economics'. Stop using this buzzword. Raising taxes is not the answer.

Capitalism is the ONLY economic system that creates wealth. All forms of socialism such as the communism you are proposing steal wealth.

 

[Into the Night]

False.

WRONG. Flash is correct on this one.

 

[Into the Night]

You should thank your lucky stars you've never really lived in a true laissez-faire free market economy.

The free market is immortal. You can't kill it. See your local drug dealer for details.

We tried that in the 1890's and folks like you and I ended up living in squalid tenements.

You weren't alive in 1890 dumbass.

The things that make your life good here in America came along with Progressive actions in the early 1900's.

Socialism doesn't work.

 

[Into the Night]

Making the upper class pay their taxes.

You mean making the 'upper class' pay MORE in taxes. That's unconstitutional, dude.

 

[Into the Night]

And the nearly 50% of Americans who pay no federal income tax.

Which itself is unconstitutional. High tax brackets (indeed tax brackets themselves) charge an unequal tax. That goes against Article I, and the 14th and 16th amendments.

 

[Into the Night]

False. But then, you would not pass a high school economics class.

Economics isn't a high school class.

 

[Into the Night]

Democrats and Republicans pay for tax cuts and spending by borrowing money. I didn't like Trump's tax cut without accompanying spending cuts because it increased the deficit and debt.

Actually, it's the PRINTING of money that is far worse. Printing money without a corresponding increase in wealth is the direct cause of inflation.

 

[Into the Night]

Everyone? Do you guys PM each other and talk about me? How fucking sad is that.

Dude, get a life.

Paranoia.

 

[Into the Night]

The result? From 1989 to 2019, typical working families in the United States saw negligible increases in their real (inflation-adjusted) incomes and wealth.

Over the same period, the wealthiest 1% of Americans became $29tn richer. The national debt exploded. And Wall Street’s takeover of the economy continued.

https://www.theguardian.com/commentisfree/2022/oct/09/why-is-trickle-down-economics-still-with-us

WRONG.
Wealth increased dramatically from 1989 to 2019. Incomes did not keep up with inflation, however.

 

[Into the Night]

The upper class are the only ones who pay their "fair share" of individual federal income taxes. If by "fair share" you mean pay the same percentage of taxes as their percentage of income. All other groups pay less.

96% of federal income tax paid by top 50% of income earners
4% of federal income taxes paid by bottom 50% of income earners (or -6% if you include federal tax credits).

Not a fair share by any means. The rich pay MORE in taxes than any other bracket (as a percentage of income). All anyone has to do is look at the tax brackets themselves, which are unconstitutional.

 

[Into the Night]

All an intellectual invalid like you knows is what the fake news sites post.

You are describing yourself again.

 

[Into the Night]

Trickle-down economics benefit those who want to give the working class less so that they can take more. Also Trickle-down economics is enslavement of the working class.

There is no such thing as 'trickle-down economics'. Buzzword fallacy.

 

[Flash]

Trickle-down economics benefit those who want to give the working class less so that they can take more. Also Trickle-down economics is enslavement of the working class.

You are not giving the working class less and upper class more. The upper classes earn more and they are taxed and much of that money is given to the working classes through Earned Income Tax Credit, other tax credits, educational grants, Medicaid, food stamps, housing programs, welfare (TANF), and hundreds of other programs.

If you favor these social programs, it is trickle down economics. Money from those make more is given to those who make less. If you took a much larger percentage of taxes from the wealthy to give to the working class, it is still trickle down economics because it goes from top to bottom.

 

[Concart]

So you have no proof. Fucking stupid libturd...

Ohhhh are you mad? Gonna jump in your hot rod?



Fucking loser.