Political Cartoons, Memes & Amusing Videos

[rareboy]

 

[rareboy]

 

[rareboy]

MAGA super mad about Indians coming to America right now but they voted for this...

 

[rareboy]

 

[rareboy]

America in a nutshell.

 

[rareboy]

In fact we booted his NAZI grandparents out of Canada...

 

[Alistair]

 

[Alistair]

 

[Alistair]

 

[Kulindahr]

I also thought that after a certain income the tax rate should be 90% although my brother suggested 50% which is more reasonable.

The top tax rat can hit 67% before it has any measurable detrimental effects on the economy, and that's only if it affects more than 1% of taxpayers. For under 0.5%, 85% is no problem.
Or that was true over the period from 1950 -- 1990; I assume it's still the case. It may also depend on just where on the income distribution spread that top bracket is set.

 

[Kulindahr]

have everyone pay what their fair share of taxes is.

Who gets to define "fair share"?

 

[Kulindahr]

View attachment 2839301

Oh, if only she's right!

What gets me is that large corporations would generally benefit from a Canada-like system in the U.S., but the super-wealthy who run the biggest companies use company money to oppose it.

 

[KaraBulut]

The top tax rat can hit 67% before it has any measurable detrimental effects on the economy, and that's only if it affects more than 1% of taxpayers. For under 0.5%, 85% is no problem.
Or that was true over the period from 1950 -- 1990; I assume it's still the case. It may also depend on just where on the income distribution spread that top bracket is set.

The problem with your reference to 1950-1990 is that this was when most of those people worked or had ordinary income. These days, the ultrawealthy have so many other means to make money, defer income and have a high net worth without paying payroll taxes like the other 99%. They can also pass on appreciated assets to descendants with a low tax rate because the Trump tax cuts of 2017 doubled the exemption to $14 million ($28 million for couples) and created additional ways to shelter estates to avoid the 40% tax rate for amount exceeding the exemption.

Until all income is treated as ordinary income (or Chuck Schumer, Kristin Gillibrand and the rest of the NY Congressional delegation decide to not accept Wall Street donations), it will never happen.

Since the Orange Supremacist was re-elected and both Houses of Congress have Republican majorities, they will extend all of those tax cuts for the wealthy using reconciliation and there's nothing that Democrats can do about it.

 

[Kulindahr]

The problem with your reference to 1950-1990 is that this was when most of those people worked or had ordinary income.

Well, yes. So stock options, capital gains after the first $120k, and dividends after the first $120k should all be taxed as ordinary income.

 

[rareboy]

 

[Alistair]

 

[cityboy-stl]

 

[johaninsc]

 

[johaninsc]

 

[johaninsc]