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this post was submitted on 20 Aug 2024
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Maybe roll it back up to 35 percent instead of letting republicans gain ground every fucking election and doing half assed measures that still result in net loss for the people? I mean it’s a step in the right direction but Jesus fucking Christ man.
Shit why not make it 50%, it was that way in 1950.
The Good Old Days, according to conservatives.
Back when there were numerous loopholes, deductions, and methods of evasion and nearly none paid that rate? And when they later lowered effective rates, closed loopholes, and ended up collecting more?
Yeah, let's do that. Let's incentive finding ways to avoid paying taxes.
This is exactly how you give incentives to higher CEO pay. Record profits? Give all of it to the CEO and you'll pay none of it to the government. You didn't mention a higher personal tax rate, so end of the day the CEO wins.
Own an S-Corp? Pass through all profits to yourself and pay 0%.
Corporations still find loopholes and pay nearly no taxes… If corporations and Billionaires paid their taxes just like common folks, the country would make a lot more in taxes.
F
I'm with you if we also include penalties for avoiding taxes. Carrot and stick.
The top 1% have approximately 1/3 to 1/4 of the total wealth of the country. So this tax rate sounds fair. Probably should pay a little more to account for the progressive nature of taxes.
Personally, I'd like to see more inheritance taxes. We shouldn't have a class of nobility.
Also lift the cap on social security taxes.
If they own 30% of the wealth they should be paying far more than 30% of taxes. After taxes and the cost of living comfortably, they are steadily increasing the wealth disparity and benefiting from a society where they are exploiting the lower classes, especially considering that a sizable number of people in the full-time working lower classes are not ever able to reach a level of basic comfort and security, as a direct result of them hoarding not just wealth but power, and not paying "their fair share" of either.
That's a good point. Perhaps I should say "much more" instead of "a little bit more"
let's go for 40% to account for inflation. and that's being generous lol
That's... Not how inflation works, lol. At that rate, they'll eventually be taxed more than 100%.
I’m fine with this
hmm, true lol. I just want gigantic companies to pay their fair share, and 28% is just too low for my taste when we were getting way more from big businesses back during the 50s and 60s.
I understand lowering the rate helps businesses grow, but come on, there are way more shittier companies taking advantage of the lower tax rate than it's helping.
I like her, but man is it annoying to see the ratchet-effect happening once you are aware of it.
I like where your heads at
As someone who lives in Europe, I already pay this much on income taxes. Is this considered high?
Edit: actually like 30-33%
30-35% is about what Americans pay too in personal income taxes, but this is talking about taxes paid by businesses, which are unsustainably low in the states right now.
I blame Reagan. It's been historically really low ever since and every time it's tried to be raised Republicans scream that they're are coming for your money. Even if they are only trying to raise it for ppl making over 2 million or whatever.
I live in Canada and that’s what we pay too.
She advocated for that in 2020 and lost, so she rolled it back to be more moderate. You can’t sell shit that people won’t buy.
You can’t ~~sell shit~~ pass legislation against corporations that ~~people won’t buy~~ are legally allowed to bribe our representatives