Biden Presidency will be a Nightmare for America economically!
- Thread starter Wolverine
- Start date
So you can back that up?
His numbers were a record high. The peak was in 2013 between 47.6 - 47.8 million depending on the source. At the same time food stamp use was increasing, Obama was taking credit for significant decreases in unemployment. Things like that work as a direct not an inverse relationship.
What shall we compare it w/??
The unparalleled increase in the national debt??
How about our massive increases in the trade deficit w/ communist china??
The millions unemployed??
the trump riots??
The virus out of control as he golfed & insulted??
China is about to pass the USA as the world's largest economy & fools cheer for four more.....
Debt is increased by out of control government spending not lack of revenue!
Yes the Chinese Virus has caused many lost jobs and we should hold China accountable!
The riots were caused by a false premise of uncontrollable police killing all black people, when everyone of them was a thug, and resisted.
The virus was out of control before we knew what it was thanks to the heavy handed Chinese Government silencing people who knew what was happening!
If you want China to pass us in economic success elect Biden!
I don't understand the Conservative opposition to QE when it is trickle-down economics in its most base form.
I guess there is no history. The Repubs over and over fuck up the economy and give big tax bucks to the billionaires and corporations. Then the Dems have to fix it. Trump was handed a vibrant and growing economy by Obama fixing the Bush mess. Trump of course claimed it was his. His total fucking up Corona has crashed the economy. We are living in near depression conditions across the country with unemployment, foreclosures and over 100,000 businesses closed. There is no easy fix. Trump was president, Are we better off than we were 4 years ago?
First of all it was Franks Dodd who crashed the economy under Bush! Secondly you are intellectually dishonest to blame Trump for a Virus that the Chinese kept under wraps until it was too late!
The Fed had to print money just to hand out to companies, in order to keep most of the mid to large companies in America from collapsing. That has never happened before trump, but it did happen before Covid-19. In theory, that will cause inflation, but even inflation is better than losing all our companies to technical bankruptcy at once.
Or put another way, while dealing with the worst deflation we have seen in a long time, 12 years ago, Republicans were all telling us that inflation was just around the corner. It still has not happened, even though trump has failed miserably. Their track record is terrible.
Um yeah right! So if the economy is so terrible, why do you agree with taking more money out of it, via tax raises?
Reasonable taxes put more money into the economy than they take out of the economy.
It is reasonable that the almost half not paying income taxes start paying their fair share. Glad you agree those freeloaders should do their part.
CFM already took my question but let me help, is 28 percent of a million dollars, more than 15 percent of 75 thousand dollars?
It will take a dozen lefties using all their hands and toes to try and figure that out and they'll still get it wrong.
If you collect too much wealth in the hands of a few people, you enter a dark age. While the few has nearly 100% of the wealth, it is a small amount of absolute wealth, because wealth is derived from serving the masses. If the masses have nothing, the rich have little more than nothing.
In other words, you can decrease taxes to zero on the wealthy, and they will be a lot poorer for it. They will keep their money, but not make more money.
Here is a question, would you rather pay 28% on a million dollars income, or 15% on $75k? And a follow up question, why would you rather pay not just more in taxes, but a higher percent?
"Instead, the top 1 percent — with an average income of about $2 million — made 20.9 percent of America’s income, but paid 24.1 percent of America’s taxes. Few people will perceive this as a monstrous injustice."
https://theintercept.com/2019/04/13/tax-day-taxes-statistics/
According to your source, a group making 20.9% of the country's income paid 24.1% of the taxes. No one should perceive that as a monstrous injustice or one at all.
In 2017, the top 1% had a AGI share of 21.04% but paid 38.47% of the total federal income taxes. What's the problem? At the same time, the bottom 50% had an 11.25% AGI share but paid only 3.11% of the total federal income taxes.
When 50% of the people are paying 96.89% of the taxes, it's the other 50% paying only 3.11% that aren't paying their fair share.
That is reality unless you can refute the source:
https://www.ntu.org/foundation/tax-page/who-pays-income-taxes
The bottom 50% pay only 3.11% of the income taxes. The bottom 20% pay nothing. When the deductions lower their taxable income and the low income earner credits are greater than their taxable income, their tax liability is ZERO. A single parent earning $15/hour would not pay a dime in income taxes.
Yes, but that is different than your original claim. Your original claim was that they pay only 3.11% of "taxes".
And see you go back off into your fantasy land again. The bottom 20% make 2.8% of the income, and pay 2% of the taxes. That is more than "ZERO" as you claim.
Back to income taxes. I cannot imagine trying to raise a child on $15/hour, and then you add in all the taxes...
My original claim was that the bottom 50% pay only 3.11% of the income taxes. That doesn't mean everyone in that 50% pays income taxes.
You don't understand simple math. You don't pay income taxes is your deductions are greater than what you made and credit are greater than what you owe.
That single parent isn't paying any income taxes. He/she is likely receiving social welfare funded by the taxes they don't pay.
Face it, people like me support people like you and you can't even provide a simple "thank you". It's why those of you that rely on things funded by those of us doing far more than our part should do us a favor and starve.