REMINDER: THE ARENA PLATFORM, INC. has no obligation to monitor the Forums. However, THE ARENA PLATFORM, INC. reserves the right to review any materials submitted to or posted on the Forums, and remove, delete, redact or otherwise modify such materials, in its sole discretion and for any reason whatsoever, at any time and from time to time, without notice or further obligation to you. THE ARENA PLATFORM, INC. has no obligation to display or post any materials provided by you. THE ARENA PLATFORM, INC. reserves the right to disclose, at any time and from time to time, any information or materials that we deem necessary or appropriate to satisfy any applicable law, regulation, contract obligation, legal or dispute process or government request. Click on the following hyperlinks to further read the applicable Privacy Policy and Terms of Use.
Trump said the same thing during an economic doom while massively increasing the deficit. Only in America do middleclass people fight for the right of billionaires to pay as little in tax as possible.Raise taxes during the worst economic downturn since the depression.
Brilliant.
Still drinking the trickle down koolaid, huh?Raising Corp tax rate will result in job losses and potentially companies moving headquarters out of USA. Prior to recent Corp tax cuts, it was more profitable for a company to locate in Canada which had a lower rate.
I’m in favor of making capital gains rates commensurate with rates on wages. I don’t think it’s fair to value capital over labor
is that what you got from my postStill drinking the trickle down koolaid, huh?
So taxes on wages should be lowered.Raising Corp tax rate will result in job losses and potentially companies moving headquarters out of USA. Prior to recent Corp tax cuts, it was more profitable for a company to locate in Canada which had a lower rate.
I’m in favor of making capital gains rates commensurate with rates on wages. I don’t think it’s fair to value capital over labor
The increase in the deficit is from spending. Tax revenue to the treasury has increased every year during the current administration...Trump said the same thing during an economic doom while massively increasing the deficit. Only in America do middleclass people fight for the right of billionaires to pay as little in tax as possible.
Fiscal Year | Revenue |
---|---|
FY 2021 | $3.86 (estimated) |
FY 2020 | $3.71 trillion (estimated) |
FY 2019 | $3.46 trillion (actual) |
FY 2018 | $3.33 trillion |
FY 2017 | $3.32 trillion |
If that happens, it's not going to happen because it has to happen.Raising Corp tax rate will result in job losses and potentially companies moving headquarters out of USA. Prior to recent Corp tax cuts, it was more profitable for a company to locate in Canada which had a lower rate.
I’m in favor of making capital gains rates commensurate with rates on wages. I don’t think it’s fair to value capital over labor
Revenue will always increase with a growing economy, now defend Trump running a huge deficit during a economic boom?The increase in the deficit is from spending. Tax revenue to the treasury has increased every year during the current administration...
Fiscal Year Revenue FY 2021 $3.86 (estimated) FY 2020 $3.71 trillion (estimated) FY 2019 $3.46 trillion (actual) FY 2018 $3.33 trillion FY 2017 $3.32 trillion
Who Really Pays Uncle Sam's Bills?
The federal government estimates it will collect $3.863 trillion in taxes for FY 2021. Who really pays? Annual revenues by year since 1789.www.thebalance.com
In fact if you look at the revenue history there is no correlation between tax rates and revenue increases or decreases. Revenue has generally increased every year with a few exceptions which were due to economic downturns.
So I ask, if deficit reduction is your goal and revenue increases remain even at lower tax rates then what is the justification for a tax increase?
Spending (which happens in Congress). And I’m not defending it.Revenue will always increase with a growing economy, now defend Trump running a huge deficit during a economic boom?
Because billionaires pay less proportionally in taxes then their secretaries and massively profitable corps often pay zero. Keep drinking the trickle down koolaid, gonna trot out the Laffer next?Spending (which happens in Congress). And I’m not defending it.
I have been consistent in my posts here on the fact that our government spends too much, is too big, has too much power.
Is English not your first language? Because I’ve been pretty fucking clear on this issue.
So I ask again, what is the justification for raising taxes?
If you’re so dead set against deficits why do you want to expand the power, reach and spending of the federal government?
So lower the taxes of the secretaries.Because billionaires pay less proportionally in taxes then their secretaries and massively profitable corps often pay zero. Keep drinking the trickle down koolaid, gonna trot out the Laffer next?
Once again arguing from ignorance of the issue.So lower the taxes of the secretaries.
I don’t know what Laffer is. I just gave you the revenue numbers.
Data.
What ignorance? I showed you the data. Taxes went down, revenue went up. Sure, if taxes went to zero there’d be less revenue but that’s not what we’re talking about. It has not been proven that an increase in taxes raises revenue, so what’s the justification? If money is going to be taken by force it needs to be justified.Once again arguing from ignorance of the issue.
I am done, your argument is one of a simpleton.What ignorance? I showed you the data. Taxes went down, revenue went up. Sure, if taxes went to zero there’d be less revenue but that’s not what we’re talking about. It has not been proven that an increase in taxes raises revenue, so what’s the justification? If money is going to be taken by force it needs to be justified.
Is it simply that you don’t like people who have more than you?
We both want to reduce deficits (I think) so how is that done? We can see from the historical data on revenue that higher taxes don’t achieve that goal so using deficit reduction as a justification for raising taxes doesn’t pencil out.
The issue is spending. The government needs to cut spending. That is one way to reduce deficits.
The other way is to have policies that support economic growth (as you rightly said above revenue increases are due to growth). Raising capital gains and corporate taxes to don’t support economic growth.
Your done because you’re dead wrong and cannot produce any data or evidence whatsoever that rebuts anything I’ve written in this thread.I am done, your argument is one of a simpleton.