Originally posted by Sparko
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Trump Tax Cut
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The ultimate weakness of violence is that it is a descending spiral begetting the very thing it seeks to destroy...returning violence for violence multiplies violence, adding deeper darkness to a night already devoid of stars. Darkness cannot drive out darkness; only light can do that. Hate cannot drive out hate; only love can do that. Martin Luther King
I would unite with anybody to do right and with nobody to do wrong. Frederick Douglas
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Originally posted by carpedm9587 View PostThis is a succinct breakdown - making it easier to respond. Concerning your three points:
I never claimed this - so I'm not trying to defend it. You are arguing against a position I did not take. It was clearly significant given the impact on our deficit.
This I claimed. The middle class benefited some, but the wealthy benefited a LOT more. And the benefits to the wealthy are largely permanent, whereas the benefits to the lower classes largely expire. I have provided the numbers and their sources.
This has also been shown to be true. I refer you to the various links I've provided that furnish the relevant numbers.
No carp, he did not con anyone, yes the tax cut was largest percentage wise for the middle class, I gave you the numbers. And yes it will mean more income for the wealthiest because they pay the largest amount of tax. Just like the middle class pays more than the lower income class. That's how percentages work. A 10% cut for someone who makes $100,000 is going to be larger than a 10% cut for someone who makes $20,000 and results in a proportional increase in income. And that is as it should be. The wealthiest also are the ones who give the poorest and the middle class jobs in the first place. As has been shown in other threads, the companies have been using the tax breaks to give raises (as I was) and hiring more workers.
I am sure you used your gains to help your employees, didn't you?
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Originally posted by Sparko View PostSo much for letting me have the last word.
Originally posted by Sparko View PostNo carp, he did not con anyone, yes the tax cut was largest percentage wise for the middle class, I gave you the numbers.
Originally posted by Sparko View PostAnd yes it will mean more income for the wealthiest because they pay the largest amount of tax. Just like the middle class pays more than the lower income class. That's how percentages work. A 10% cut for someone who makes $100,000 is going to be larger than a 10% cut for someone who makes $20,000 and results in a proportional increase in income. And that is as it should be. The wealthiest also are the ones who give the poorest and the middle class jobs in the first place. As has been shown in other threads, the companies have been using the tax breaks to give raises (as I was) and hiring more workers.
In other words:
2% of $20K is $400
2% of $20M is $400K
The difference in dollars is huge, but to be expected because the base salary is bigger. The percentages are the same.
0.4% of $20K is $80
2.9% of $20M is $580K
Now the rich don't just have a higher dollar amount; it is hyper inflated by the gross difference in percentages. I cannot imagine anyone looking at the numbers and not saying, "wow, the rich are benefiting far more."
The tax tables you continually go to mask this effect. At the end of the day, most people are more concerned with their EFFECTIVE tax than the tax table - because the effective tax is the tax they actually pay, and governs what they get to keep in their pocket. For some reason, you seem dedicated to ignoring this reality. I'm not sure why.
Originally posted by Sparko View PostI am sure you used your gains to help your employees, didn't you?The ultimate weakness of violence is that it is a descending spiral begetting the very thing it seeks to destroy...returning violence for violence multiplies violence, adding deeper darkness to a night already devoid of stars. Darkness cannot drive out darkness; only light can do that. Hate cannot drive out hate; only love can do that. Martin Luther King
I would unite with anybody to do right and with nobody to do wrong. Frederick Douglas
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Originally posted by Sparko View PostYes, it does.
And now we actually are at an end. Last word to you - and this one I will keep.The ultimate weakness of violence is that it is a descending spiral begetting the very thing it seeks to destroy...returning violence for violence multiplies violence, adding deeper darkness to a night already devoid of stars. Darkness cannot drive out darkness; only light can do that. Hate cannot drive out hate; only love can do that. Martin Luther King
I would unite with anybody to do right and with nobody to do wrong. Frederick Douglas
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Originally posted by carpedm9587 View PostI have repeatedly noted the increase is not just in dollars - it is in the percentages themselves, which you seem dedicated to ignoring. If we all get to see our taxable income climb by 2% (with no increase in deficits), then no problem - even though the rich make more. Which is as you said. But when the lowest see a 0.4% increase and the wealthiest a 2.9% increase, it's salt on the wound - they are not just making more, they are making more at a higher percentage rate. Hence the tax cut was skewed to the rich, which Trump and the Republicans claimed was not going to happen.
In other words:
2% of $20K is $400
2% of $20M is $400K
The difference in dollars is huge, but to be expected because the base salary is bigger. The percentages are the same.
0.4% of $20K is $80
2.9% of $20M is $580K
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