Republican Millionaire Tax would generate $400 billion

Wow 400B could pay for that 4.5T tax cut.

B is muy bigger than T, yes?

 

Republicans acknowledge the pains of wealth inequality which is why Trump is crushing unions by installing a anti union NLRB head who used to work as a union busting law firm...Republicans acknowledge wealth inequality which is why they are currently closing OSHA offices throughout the country ... Republicans understand the suffering which is why congressional republicans passed a budget with 800 billion being cut form Medicaid which will lead to millions of low income people getting kicked off their insurances lol.

I just dont understand why you guys lie and gas light others as if we're all braindead. The republicans wont pass any hike on top income bracket and id be willing to wager you any sum of money to the tipjar. You're dumb

 

A positive step if this is passed. I have my doubts it will. [this is what objectivity and intellectual honesty looks like]

The overall budget, tariff trade war and economic plan is dog crap, but this element has my support.

 

Because Dems haven't been proposing tax increases in millionaires for my entire lifetime?

 

Again quit trying to pretend you're smart. The issue with Medicare/Medicaid is with HMOs as they overbill the system leading to hundreads of billions of dollars in fraud. If DOGE was serious they would go after the medicare advantage plans or the medicaid advantage plans. He didnt do that but hes cutting TRADITIONAL Medicare and instead funneling that money to HMOs. Congress medicaid cuts are all going to traditional medicaid and millions of people will lose their insurance.

You may not like unions but installing a anti union amazon lobbiyst to crush unions isnt the way to go. If someone votes to form a union they should be recognized by law. The new head will instead crush the votes and make it impossible to form a union.

Stop trying to gas light people that the party kicking millions off their insurance to give tax cuts for the wealthy suddenly care about wealth inequalities. You people are full of **** and should be ashamed of yourself

 

It sounds like it's just one idea of many floating around about how to address the tax brackets. So who knows if it goes anywhere. In general, I'm supportive of a progressive income tax with higher rates charged to higher incomes. So, I'm fine with it. I will point out a few things:

* Before Trump's tax cuts from his first admin (with many of its provisions expiring this year), the highest bracket was less than $1 million and they paid 39.6%, so we're really just talking about returning to the old system for millionaires. It's not new ground. And the rate right now is 37%, so it's not a huge change. And it's de facto part of what Democrats have been asking for -- and only part -- since they want to unwind the Trump tax breaks. IOW, it's not as far as Democrats would have gone to shift the tax burden from the poor to the rich had they won anything in the last election.

* Income tax brackets are applied to wages, not long-term capital gains where the real wealth is generated. There, the billionaires are paying 20%, tops. Are you really addressing wealth inequality if millionaires pay 40 cents on their last dollar of their salaries so that waitresses go tax free while billionaires pay only 20% when they reap the rewards of their investments? I'm not feeling sorry for the millionaire here, but they don't look all that rich compared to the billionaires in this country. Real wealth inequality does not come from some people getting small wages and others large -- it comes between those who get wealth with their labor versus those who get wealth with their capital.

 

I once pissed in the ocean, too.

 

Careful I heard it attracts sharks.

 

Our tax structure is a small aspect of our wealth inequality problem.

The dismantling of labor organization in the tech economy and shareholder capitalism are probably the two biggest factors that can't be solved with just a restructured tax system.

Eventually the US government will have to take away these near trillion dollar evaluation corporations from private interests. Individual humans are having more power than governments is going to end with human laborers who've lost their usefulness to these capital owners being converted into biofuel.

 

Let's see if they actually go through it....

"The true party of the people" keep saying they have a health care plan.... but......

 

@strosb4bros MAGA cultists gets fooled again. What a surprise

 

They were higher than 20% for most of the last 100 years.

 

There is a tension there between the need to attract capital and the need for equitable treatment. Capital is very critical, powerful and mobile, so its able to extort a lot of favorable treatment. I don't have a good answer for it. If I did, I wouldn't be shitposting here. But, I do think this tension between the earning power of capital and the earning power of labor is at the heart of wealth disparity, of class warfare, and ultimately of all politics. And you can't solve it with tax policy (though you might reap a little more government revenue with wise tax policy). But I only bring it up to say I don't believe Republicans are doing anything at all to address wealth inequality by incrementally adjusting a tax bracket on well-to-do salaried workers. Maybe he's doing a little something about the social justice question of who should take on how much burden of supporting our government, but not addressing the realities of how the fruits of our wealth creation are distributed in our society. On that question, he's still radically on the pro-capital side.

 

And never mind anyway. They won't be taxing millionaires after all : https://news.google.com/read/CBMisA...zdWYXVqeHFKTE9TOHBB?hl=en-US&gl=US&ceid=US:en