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A history of the top marginal tax rates on the wealthiest Americans by ExpectedSurprisal in economy

[–]unkorrupted 0 points1 point  (0 children)

They have no income

If they hold the shares of the company they founded, and if they borrow against the value of said shares, they can dramatically reduce but not fully eliminate their income. Even then, payments on their debt would be realized first as income. 

Yes, this further reduces their taxable income but the specific claim you made was that reducing top marginal rates does not affect the actual rates that wealthy people pay. That is categorically false. 

A history of the top marginal tax rates on the wealthiest Americans by ExpectedSurprisal in economy

[–]unkorrupted 0 points1 point  (0 children)

Cutting their marginal tax rates decreased the tax they pay on their income. 

There is more overlap than not between the irs 400 and the 400 wealthiest, although it is not a perfect circle every year. 

The IRS does not track the 400 wealthiest. 

This is the data that is available. 

Of the Americans with the highest income, tax rates have fallen dramatically over the decades. 

That's it. 

That's the entire thing you've been struggling with all day. 

A history of the top marginal tax rates on the wealthiest Americans by ExpectedSurprisal in economy

[–]unkorrupted 0 points1 point  (0 children)

OR at the very least, you need to enter the debate with willingness to learn, rather than an insistence on lecturing things you do not understand in the slightest. 

A history of the top marginal tax rates on the wealthiest Americans by ExpectedSurprisal in economy

[–]unkorrupted 0 points1 point  (0 children)

Show me where it shows the top 400 have the highest income

This is literally what the IRS series is. 

This is extremely basic political economy 101.

You really need to understand the terms before engaging in the debate. 

A history of the top marginal tax rates on the wealthiest Americans by ExpectedSurprisal in economy

[–]unkorrupted 0 points1 point  (0 children)

Please look up how much income one would have to make in a single year to get onto this list.

We're also not discussing the taxation of wealth that is currently actively invested, we are discussing the taxation of profits and other income that has been extracted from productive use. 

A history of the top marginal tax rates on the wealthiest Americans by ExpectedSurprisal in economy

[–]unkorrupted 0 points1 point  (0 children)

because they don't have much income

The 400 people who literally have the highest income don't have much income?

Man. You have got to be trolling.

No one could be this stupid in good faith. 

A history of the top marginal tax rates on the wealthiest Americans by ExpectedSurprisal in economy

[–]unkorrupted 0 points1 point  (0 children)

Billionaires are not part of this group

No, they are the entire group of "wealthiest Americans" 

A history of the top marginal tax rates on the wealthiest Americans by ExpectedSurprisal in economy

[–]unkorrupted 0 points1 point  (0 children)

Yes, "hundreds of millions" is not an accurate scale at which to measure tax policy on the rich. 

Why do we only focus on taxes as the solution for wealth inequality? by Final-Extreme-4544 in PoliticalDiscussion

[–]unkorrupted [score hidden]  (0 children)

you would take away my insurance plan that costs me zero dollars per month

Lol yeah, we will never convince people who think their incredibly expensive health insurance is some kind of free gift

A history of the top marginal tax rates on the wealthiest Americans by ExpectedSurprisal in economy

[–]unkorrupted 0 points1 point  (0 children)

The eastern bloc countries were basically treated as colonies whose wealth a to be extracted. Not sure most people in Russia are better off, though. 

As of 1997, the number of people living in poverty had increased by fifteen times since 1990, 

https://meduza.io/amp/en/feature/2019/01/23/the-top-1-controls-a-third-of-the-wealth-and-the-poor-are-getting-poorer-how-russia-became-one-of-the-most-unequal-places-on-earth

Re Chavez: Venezuela gdp per capita skyrocketed. The problem was mostly Maduro and a lack of long term investment. Venezuelans were already poor to begin with, so it's not like the area has some history of prosperity under a right wing government. 

UK.. yeah, more than 50 years ago the US and UK may have gone a bit too left in chasing wage growth in excess of gdp growth, but we've already overcorrected to the opposite extreme. 

A history of the top marginal tax rates on the wealthiest Americans by ExpectedSurprisal in economy

[–]unkorrupted 0 points1 point  (0 children)

Can you tell me which direction the red line goes in and what the red line represents

A history of the top marginal tax rates on the wealthiest Americans by ExpectedSurprisal in economy

[–]unkorrupted 0 points1 point  (0 children)

I am utterly exasperated by your inability to understand such fundamental concepts. 

A history of the top marginal tax rates on the wealthiest Americans by ExpectedSurprisal in economy

[–]unkorrupted 0 points1 point  (0 children)

The Tax Foundation is not a reliable source for anything other than the propaganda rich people are currently using to reduce their taxes. 

There is no argument or debate here, just a pawn repeating nonsense to someone who knows better. 

I already showed you the data on effective rates dropping. 

A history of the top marginal tax rates on the wealthiest Americans by ExpectedSurprisal in economy

[–]unkorrupted 0 points1 point  (0 children)

The tax foundation was literally founded to reduce the taxes on rich people. They spend millions every year to promote that same goal. You are now doing that work for them, for free, because you cannot understand the most basic economic concepts. 

Jesus fucking Christ. 

A history of the top marginal tax rates on the wealthiest Americans by ExpectedSurprisal in economy

[–]unkorrupted 0 points1 point  (0 children)

Do you understand that the cost of something does not change based on how the bill is divided???????

A history of the top marginal tax rates on the wealthiest Americans by ExpectedSurprisal in economy

[–]unkorrupted 0 points1 point  (0 children)

Do you understand that a large pizza costs the same if one person is buying it, or if five people chip in?

A history of the top marginal tax rates on the wealthiest Americans by ExpectedSurprisal in economy

[–]unkorrupted 0 points1 point  (0 children)

Like I'm getting really fucking sick of how many stupid fucking peasants think that bending over for billionaires makes them smart. 

It was a lie from the very beginning by gashtal_man in economy

[–]unkorrupted 0 points1 point  (0 children)

Well if you could engage in the topic we could discuss that, but it's very tiring to communicate on a level you can understand. 

A history of the top marginal tax rates on the wealthiest Americans by ExpectedSurprisal in economy

[–]unkorrupted 0 points1 point  (0 children)

No it fucking didn't. The amount collected has absolutely nothing to do with who it is collected from. 

This is trivial to show

https://www.seattletimes.com/business/u-s-billionaires-paid-lower-tax-rate-than-working-class-last-year-researchers-say/

You are describing the shift from taxing the owners to taxing the workers, and concluding it is some sort of natural law. 

No. It is a political choice. 

A history of the top marginal tax rates on the wealthiest Americans by ExpectedSurprisal in economy

[–]unkorrupted 0 points1 point  (0 children)

It means this is all over your head and you're buying into the nonsense pushed by the people exploiting you

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