That is stupid. No one is talking net, $100 dollars to a millionaire is far different than $100 to someone who makes $30k per year...... DD
According to leftists and democrats and generally people who hate Republicans, the Republicans should do what the Democrats do. Hmm. Enlightening stuff really.
FICA is 7.65% Unless the poor own their own business, they are not paying 13 percent in payroll taxes. Furthermore, the whole idea of FICA is that you get it back plus more. That is why it is capped, because the benefits are capped. The rich pay more into the ponzi scheme that is Social Security and Medicare than the poor, and benefit from it less. The solution is to eliminate both, so no one is required to pay this "regressive" tax. If you are not talking net, you are talking nonsense. If you take $100 and give back $300, that is not a bad deal for someone netting $200.
The employee pays 6.25 and the employer pays 6.25, but let's not fool ourselves. All of it comes out of payroll.
Again the House Republicans are still putting party over country. Understand they want nothing to do with the Build Back Better Bill but many of their own colleagues have already voted for the Bipartisan Bill. If they passed it that would be a major benefit to their constituents, something they could campaign on but if the Progressives are right then it would make it harder to pass the $3.5 trillion bill. In other words if they passed the Bipartisan Bill it could be a win win for the GOP. The problem is that they are locked into this zero sum view and have made the stakes the same as what the Progressives are pushing. This could very well end up being a lose lose in that they don't vote for the Bipartisan Bill and both it and the Build Back Better plan pass.
The ponzi scheme that is Social Security and Medicare? Really? You have some of the most extreme conservative views I have ever read here. If it were up to you we would still be living in a segregated society without any government regulations. It's not a US I would want to live in...
The employee is also paid out of money generated by his own work, so he is really paying his own salary and his actual earnings are negative, because the bosses take the surplus value of his labor. Here in the real world though, we know that if the government eliminated the employer contribution to FICA, you wouldn't see every business immediately increase their employee's salary by 6.5%. As such, that is not a tax on the employee, but rather on the employer. The actual FICA tax payed by employees is 6.25 percent. You are intentionally trying to obfuscate that by claiming they are paying 13%. What fantasy world are you living in that Pelosi is bringing the bipartisan infrastructure bill to the house floor for a vote immediately without any guarantees on the party line "infrastructure" bill. It isn't house Republicans holding it up. If it was brought to the floor for a vote it would pass. The whole point is that the bulk of the Democratic party wants to pass the 3.5 trillion dollar bill, and they know if they can't hold something hostage, that will not happen. Manchin and Sinema have both said as much. So, they are trying to negotiate with the moderate wing of their own party on what they are willing to pass through reconciliation. This is an internal battle within one party. If the Republicans could somehow guarantee by their actions that the bill which has already passed the Senate is enacted and the bigger bill goes away, they would jump on it immediately. That isn't an option available to them. The Republicans already got outplayed in this fight, believed the lie that the two bills would each live and die on their own without entanglement, and passed the bipartisan bill in the Senate. Their money is already in the pot, now they are just watching to see how the rest of the hand plays out between the two people at the table with bigger stacks. Actually, government mandated segregation is horrendous. The government, being of, by, and for the people, has no business treating people differently based on their immutable characteristics. That means no preventing black people from voting or using public transit, no consideration of skin color when hiring for government positions, and no racial preferences for admission or attendance of public schools. So know, if it were up to me there wouldn't be state segregation. Private businesses would be allowed to do as they choose, and the market would sort them out, with those businesses that discriminate being at a competitive disadvantage in terms of available customer base and labor pool as compared to more inclusive companies. One need only look at current business practices to see how concerned even monopolies like the NBA are about alienating a portion of their customer base over race issues.
Most people don't hate Republicans... Most can't stand Trump puppets Lincoln Party.. they are Conservative Republicans... But it's amazing how people who love Trump try to group them as one.... T_Man
The RICH pay less percentage wise than the poor, that is ridiculous, the rich are not paying their fair share.....not sure why people like you want to protect the rich, you or I will never be one, and if we ever make it, I would be more than happy to pay more NET dollars.... DD
Net, they don't pay more percentage wise, because the poor are paying a NEGATIVE EFFECTIVE RATE. It has nothing to do with protecting the rich, you are just wrong. The rich do not pay less than the poor. Not by dollar amount. Not by percentage. The top 40% of income earners pay for this country. You are in that group and I am too. The poor are not paying for the country, they are being supported by people like us. Any narrative to the contrary is make believe.
Ok, they pay less by percentage than the dwindling middle class, they hide money in Roth IRAs through passive investing. Corporations like Amazon pay ZERO in corporate taxes....our country is broken because the rich are not paying their fair share. https://www.npr.org/2021/10/03/1042885263/pandora-papers-wealthy-offshore-banks-secret DD
Now you are moving the goalposts. Corporate taxes have nothing to do with individual taxes, they are additional taxes applied to the corporation before the money is either reinvested or passed on to the stockholders through dividends. Roth IRAs don't effect the taxes you pay as they are explicitly post tax investment vehicles. It's almost like you don't know anything about tax policy. Income tax is highly progressive. Capital gains tax is also progressive, but lower than income tax to encourage investing. The rich are paying more than anyone else to fund this country. Not paying their "fair share" is a Dem talking point to stir up jealousy in their base. Look at any distribution of net taxes paid and the wealthier people are, the more they are paying. What percentage of income is someone's fair share? I guarantee the poor are further from paying that amount than anyone else, while the rich and upper middle class subsidize everyone else. People need to stop taking money from those that make more than them and acting like this is some great act of virtue. Our country is not broken, and the largest problems we are facing are out of control spending and government exceeding the limitations to which it is supposed to be confined. Taxes not being high enough is just bullshit.
I'd be less "progressive leaning" if billionaires paid a third of their annual earnings like the middle class does
State of the republican party- hashtag winning Trump asks U.S. judge to force Twitter to restart his account https://www.reuters.com/technology/...estart-his-account-bloomberg-news-2021-10-02/
Roth IRA's as setup were post tax investment, and you are limited by how much you can put in....however there is a massive loophole in them where you can have tertiary investment from an outside source - like say you earn stocks and you ask the company to place them in your Roth IRA, then those become immune to taxes.....so people like Mitt Romney have MILLIONS of taxable income hidden in their Roth IRA - which is why they are getting rid of that loophole. The rich avoid taxes, they don't pay their fair share, they should be paying MORE than what they are paying now, the rich aren't the job creators they are the exploiters....you know who moved their businesses overseas? They did, to make more money.....they did. Our country is broken, we have a major disparity in income, we no longer have unions protecting the exploited workers, while the rest of the world recognizes the value of society as a whole we focus on the rich - because we allow LOBBYISTS to pay off politicians. Our country sucks ass - we spend far too much on the military when there is no war to fight, we basically BRIBE our politicians to protect businesses and **** over workers. Broken we are. DD
DD has a ravenous appetite for the wealth of others raiding retirement accounts is what the left has their sights on next (along with unrealized gains)
