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Thread: In Push to Tax the Rich, Biden Spotlights Billionaires’ Tax Rates

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    Default In Push to Tax the Rich, Biden Spotlights Billionaires’ Tax Rates

    WASHINGTON — President Biden is leaning into his push to increase taxes on the rich as he seeks to unify Democrats in the House and Senate behind a $3.5 trillion bill that would expand federal efforts to fight climate change, reduce the cost of child care, expand educational access, reduce poverty and more.

    “I’m sick and tired of the super-wealthy and giant corporations not paying their fair share in taxes,” Mr. Biden wrote on Twitter on Wednesday, amplifying an argument that Democratic strategists believe will help sell his economic agenda to the public and potentially lift the party’s candidates in midterm elections. “It’s time for it to change.”

    https://www.nytimes.com/2021/09/23/u...tax-rates.html

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    the wealthy class throws fits when asked to contribute a measly 2% more than the absurdly low rate they're supposed to be paying

    2% tax rate increase when they're making millions annually........and it's just amazing that all their serfs are outraged that their masters could get a 2% tax increase, as if it would affect their wages......pure stupidity

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    Quote Originally Posted by reagansghost View Post
    the wealthy class throws fits when asked to contribute a measly 2% more than the absurdly low rate they're supposed to be paying

    2% tax rate increase when they're making millions annually........and it's just amazing that all their serfs are outraged that their masters could get a 2% tax increase, as if it would affect their wages......pure stupidity

    They got richer from the pandemic.

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    "The analysis suggests that the wealthiest 400 households in America — those with net worth ranging between $2.1 billion and $160 billion — pay an effective federal income tax rate of just over 8 percent per year on average. The White House is basing that tax rate on calculations using data on high earners’ income, wealth and taxes paid from the Internal Revenue Service and the Federal Reserve’s Survey of Consumer Finances."

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    Quote Originally Posted by BidenPresident View Post
    "The analysis suggests that the wealthiest 400 households in America — those with net worth ranging between $2.1 billion and $160 billion — pay an effective federal income tax rate of just over 8 percent per year on average. The White House is basing that tax rate on calculations using data on high earners’ income, wealth and taxes paid from the Internal Revenue Service and the Federal Reserve’s Survey of Consumer Finances."
    the very same people that would benefit from the revenues generated are the very same people that fight these tax increases religiously

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    Quote Originally Posted by reagansghost View Post
    the very same people that would benefit from the revenues generated are the very same people that fight these tax increases religiously
    yes, sadly most right wingers have no understanding of our economy

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