taxing the wealthy

washingtonpost.com
In health-care bill, two prized Republican goals converge
The GOP has a “historic” chance to cut taxes and reshape Medicaid.

If anyone you know supported/supports Trump, have them read this. Then remind them that the Medicaid cuts will hurt 75 million disabled Americans, women and children and this was never part of Trump’s campaign promises.  Tell them to call their Senators  to vote no.

“The Senate Republican health-care bill would achieve a historic convergence of GOP priorities, placing major, permanent caps on Medicaid spending and providing a significant tax cut for wealthy Americans.

President Trump and congressional Republicans describe the legislation as fulfilling their promise to repeal the Affordable Care Act, or Obamacare, but key provisions are also aimed at making progress on the GOP’s long-held goal of cutting entitlement spending.

The legislation would sharply break with pledges Trump made during the 2016 campaign to block reductions in Medicaid spending and to deliver tax cuts primarily to the middle class.”

Let’s be very blunt about what the effects of the AHCA would be: it would kill thousands of people so as to give more money to the wealthy. That’s it. It’s a tax cut to the wealthy funded by cuts to healthcare, attached to the elimination of protections for the most vulnerable. If it passes every single congressman who voted for it will have blood on their hands.

  • Conservatives: Let's go back to the good old times of the 1950s.
  • 1950s: Had 92% income tax for the mega wealthy which allowed for households with a single breadwinner. Had minimum wage high enough to get somebody through college.
  • Conservatives: No... not that part. The sexism and racism part is the one I like...
The point is that you can’t understand the mess we’re in without appreciating not just the potential corruption of the president, but the unmistakable corruption of his party — a party so intent on cutting taxes for the wealthy, deregulating banks and polluters and dismantling social programs that accepting foreign subversion is, apparently, a small price to pay.
— 

The Silence of the Hacks

I sincerely hope that Democrats tie Trump around the necks of these cowards in Congress who are quietly enabling him, and I sincerely hope that voters send all of them off to a farm, where they can play with other congressmen.

President Trump’s tax plan will really help taxpayer Trump

  • President Donald Trump on Wednesday unveiled a proposal for what Treasury Secretary Steven Mnuchin called the “the biggest tax cut and the largest tax reform in the history of our country” — a plan that could save the president tens of millions of dollars.
  • The plan — which would cut the business tax rate to 15% — would apply both to companies that pay the 35% corporate tax and “pass-through” companies that are currently taxed at up to 39.6% (such as the Trump Organization).
  • Trump is likely taxed at the top rate of 39.6% on his earnings. This means Trump would directly benefit from his own plan, with his tax rate potentially being slashed by more than half. Read more
  • The plan would also repeal the estate tax, which the Trump administration ominously dubbed the “death tax.”
  • The estate tax only affects the very wealthy. It taxes the estate of a deceased person, but only if the estate is worth more than $5.49 million
  • The "Alternative Minimum Tax“ is going too. The AMT was created back in 1969 in order to ensure that rich people, like Trump, could not deduct their way out of paying taxes. 
  • At the time, those who earned more than $200,000 were able to avoid paying any federal income taxes, thanks to deductions.
  •  The AMT impacts roughly 5 million tax filers in the U.S., according to the Brookings Institution — one of those filers being Trump himself.  Read more (4/26/17 4 PM)
washingtonpost.com
Analysis | The ultra-rich are hiding way more money overseas than anyone realized
Leaks from the secretive offshore world demonstrate just how much
By https://www.facebook.com/anaclaireswanson

Previous researchers had theorized that tax evasion was likely much more common at the top of the wealth spectrum. Not only can the superwealthy afford expensive offshore services that help them hide their earnings, they are also less likely to have to disclose to the government in the first place.

Top earners are more likely to be self-employed, and thus have the burden of reporting their own income. In contrast, lower-income people typically earn wages, which in the United States are reported directly to the government by an employer in the form of W-2s. Among wage earners, rates of tax evasion are almost zero, Zucman says.

In addition to providing new insight into the nature of tax evasion, the researchers say their findings probably mean that economists have significantly underestimated inequality. If the top 0.01 percent have 30 percent more wealth than their tax returns indicate, that puts far more distance in the yawning wealth gap between the haves and have-nots.

“It increases measured inequality quite substantially,” said Zucman. 

For Zucman, the findings imply that governments are missing out on a lot of revenue that is being hidden by the super wealthy. 

anonymous asked:

I'm a little confused... I thought liberal was the good side. Can you explain what the set of tweets is talking about?

First, I am going to refer you to an ask that I have answered previously on this topic:

When you say “Liberal” context is important. Are we talking economic issues, social issues or the amount of cheese on nachos?

The “Liberal” talked about in the Tweets is Neo-Liberal economic policies as espoused by Democrats. 

In the last ask, some people had an issue with how i “conflated” Democrats and Republicans with both being Neo-Liberal. This is a perfect opportunity to clarify how that works better. 

Neo-Liberalism is currently at the heart of both political parties, but not in the same ways. As most know, Democrats and Republicans both espouse very different economic views. Neo-Liberalism itself is a return to late 19th Century ideals of economic liberalism and laissez-faire capitalism. Just to give some greater clarity, here are a few policy positions of Neo-Liberalism. 

  • Lower taxes on the wealthy and corporations.
  • Free Trade across national borders
  • Little to no regulation on businesses or the market
  • Relative ease in immigrating across national borders
  • Privatizing public institutions

If you notice, some are Republican policy positions, others are Democratic policy positions. 

Honestly, this is the greatest coup of the wealthy, getting both parties to each support one-half of their economic view. No matter who wins, they will get half of what they want. Thay may have some things they don’t like happen, like the expansion of social safety nets, or decreases in the ease of immigration, but in the long run, the wealthy will get almost all of what they want, no matter who is in power. 

This perpetuation of a failed economic ideology has damaged both parties. The rise of the Sanders left and the Trump right are proof of this. Neither group of voters supports neo-liberalism, they rebelled against it by voting for party outsiders, people that, at least, spoke of a different way of approaching economic governance.

The point of the tweets was that if the Democrats continue to use the same failed system of economics to prop up the party people will begin to flee, looking for any alternative to the current system, even if it is worse.

- @theliberaltony

anonymous asked:

Theft is morally wrong. Taking someone's wealth by force, even when they have an unfathomable amount of wealth, is still theft. Even if they are not strictly made to suffer for it, theft is still an invasion of rights and cannot be tolerated or declared exempt based on arbitrary, biased, or subjective reasons.

u know i get the feeling you’re talking about that ‘taxing the wealthy’ post i wrote an addition to over two years ago.

and i would like to take the time to congratulate you for both being an accomplished necromancer and for fundamentally misunderstanding the entire point of taxes or government.

also eat shit and choke on it. the poor and sick deserve to live more than the rich deserve to be rich. if your entire system of morality relies on the concept of property ownership over human lives i fucking hate you and you’re a peice of shit human being. 

My reasons to vote for Bernie Sanders

-He wants two years free tuition at state colleges
-He wants to reform student loans & make student loan redemptions
-He wants to charge big companies for carbon emissions
-He wants to break up big banks
-He wants to waive some deportations
-He wants to raise taxes on the wealthy
-He wants to withdraw troops in Iraq
-He wants to demilitarize our police forces to prevent violence
-He wants to pass legislation to equalize pay between genders
-He wants to ensure affordable access to childcare
-He wants to provide more programs for substance abusers
-He wants to boost investments in convicts after their release
-He wants to automatically register 18-yr-olds to vote
-He wants to make Election Day a federal holiday
-He wants to ban fracking to help the environment


If you’re not voting for Bernie Sanders, you’re not voting for the right person. End of story.

Remember. The Republicans’ plan to repeal and replace Obamacare is not really a health care plan. It is a tax plan which provides $275 billion in tax breaks to the very wealthy while throwing 24 million people off of health care. Paul Ryan said it himself this morning. He said: “We are repealing Obamacare and replacing it with good Republican tax policy.” Tax policy! Not health care policy. At a time of massive income and wealth inequality the last thing we need is more breaks for millionaires and to be put on the backs of the rest of America.

youtube

WHY LIBERAL STATES WON AMERICA’S TAX EXPERIMENT

For years, conservatives have been telling us that a healthy business-friendly economy depends on low taxes, few regulations, and low wages. Are they right?

We’ve had an experiment going on here in the United States that provides an answer.

At the one end of the scale are Kansas and Texas, with among the nation’s lowest taxes, least regulations, and lowest wages.

At the other end is California, featuring among the nation’s highest taxes, especially on the wealthy; lots of regulations, particularly when it comes to the environment; and high wages.

So according to conservative doctrine, Kansas and Texas ought to be booming, and California ought to be in the pits.

Actually, it’s just the opposite. For years now, Kansas’s rate of economic growth has been the worst in the nation. Last year its economy actually shrank.  Texas hasn’t been doing all that much better. Its rate of job growth has been below the national average. Retail sales are way down. The value of Texas exports has been dropping.

But what about so-called over-taxed, over-regulated, high-wage California? California leads the nation in the rate of economic growth — more than twice the national average. In other words, conservatives have it exactly backwards.

So why are Kansas and Texas doing so badly? And California so well?

Because taxes enable states to invest in their people – their education and skill-training, great research universities that spawn new industries and attract talented innovators and inventors worldwide, and modern infrastructure.

That’s why California is the world center of high-tech, entertainment, and venture capital.

Kansas and Texas haven’t been investing nearly to the same extent.

California also provides services to a diverse population including many who are attracted to California because of its opportunities.

And California’s regulations protect the public health and the state’s natural beauty, which also draws people to the state – including talented people who could settle anywhere.

Wages are high in California because the economy is growing so fast employers have to pay more for workers. And that’s not a bad thing. After all, the goal isn’t just growth. It’s a high standard of living.

Now in fairness, Texas’s problems are also linked to the oil bust. But that’s really no excuse because Texas has failed to diversify its economy. And here again, it hasn’t made adequate investments.

California is far from perfect. A housing shortage has been driving rents and home prices into the stratosphere. And roads are clogged. Much more needs to be done.

But overall, the contrast is clear. Economic success depends on tax revenues that go into public investments, and regulations that protect the environment and public health. And true economic success results in high wages.

So the next time you hear a conservative say “low taxes, few regulations, and low wages are the keys to economic business-friendly success, just remember Kansas, Texas, and California.

The conservative formula is wrong.

canuck-aviator  asked:

With the BC NDP party some of my friends are worried if the NDP is elected, to fulfill their platform would require tax hikes, what's your opinion?

Its fully costed and the only added taxes will be to reverse a tax cut for the wealthy, increase the Corporate tax by 1%, increase the Carbon tax (in line with the Federal Government’s plan) and a speculation tax for people who buy houses but don’t live in them:

B.C. NDP platform: Tax hikes on rich and housing-speculator levy

These are very marginal taxes, that will only effect the rich and corporations. Plus 80% of people in BC will get tax rebates back from the Carbon tax (the 20% who don’t again are the wealthy who don’t need a rebate).

And you can read their fully costed platform here. There are no hidden taxes, and they project the budget will be balanced:

BC NDP: A responsible fiscal plan that works for you

The BC NDP’s plan also plans to freeze ‘hidden taxes’ like hikes to BC Hydro, ICBC and Ferry rates. So under an NDP government you’ll be paying less, not more.

politico.com
BREAKING: Sen. Bernie Sanders (I-VT) to offer single-payer health care plan
"President Trump, come on board. Let's work together," he says.

Sen. Bernie Sanders said Sunday he planned to introduce a single-payer health care plan to Congress, inviting Republican leaders to negotiate the measure.

“I’m going to introduce a Medicare-for-all single-payer program,“ Sanders told anchor Dana Bash on CNN’s "State of the Union.” The Vermont senator, who has repeatedly stated his support for such a plan in the past, said he hoped to garner bipartisan support for the plan.

The former Democratic presidential candidate said such a plan could help to deliver on President Donald Trump’s pursuit of lowering prescription drug prices, adding that he’d look to work with the White House on the legislation.

“President Trump, come on board. Let’s work together,” Sanders said. “Let’s end the absurdity of Americans paying by far the highest prices in the world for prescription drugs.”

Republicans, who hold a 237-193 edge in the House, seemingly had been in a position to pass health-care legislation without Democratic votes, but last week’s debacle set up the possibility that Trump might seek to reach out to Democrats.

The Vermont senator also ripped the Republican health care bill to repeal and replace the Affordable Care Act as “a disastrous piece of legislation,” echoing his comments Friday that the bill would’ve merely served as a tax break for the wealthy.

“The American people wanted it defeated,” he said. “And I’m glad that we were able to accomplish that.”

Sanders also commented on the ongoing confirmation process for Supreme Court nominee Neil Gorsuch, saying that for a life-term appointee to pass, they ought to earn support from both sides of the aisle.

“I think, that for a Supreme Court justice, a lifetime term, one of the most important positions in the United States government, that it should require 60 votes, because that would make it bipartisan,” he said. “And I think that that’s where we are right now. And I certainly hope that the Republicans do not change the rules in order to push Gorsuch through.”

Progressive Agenda Worth Fighting For: 2017 Edition

1.) Single-Payer Healthcare For All

2.) Federal Jobs Guarentee: bring back the 1974 Humphrey-Hawkins Full-Employement Act

3.) Federal Protections FOR ALL LGBTQ PEOPLES

4.) A REAL path for citizenship for ALL Dreamers and illegal immigrants who work and pay taxes.

5.) Expand Social Security: there are currently multiple bills in Congress to expand and strengthen Social Security for future generations, while guaranteeing the wealthy pay their fair share into the program like all the rest of us!

6.) Eliminate ALL subsidies for Big Oil & Gas industries and begin FULLY subsidizing and supporting Renewable Energy sources for a FULL conversion to a Carbon-free Economy

7.) Make ALL PUBLIC UNIVERSITIES TUITION FREE and FORGIVE ALL CURRENT OUTSTANDING STUDENT LOAN DEBT!!!!

8.) Pass a new Voting Rights Act for the 21st Century that GUARENTEES the right to vote for ALL citizens regardless of race, gender, sexual orientation, age, class or social status! NO MORE VOTER ID LAWS!!!

9.) Federally Guaranteed Public Transportation & Job Training: in a world where the economy and jobs can shift rapidly in various fields to various locations, a Federal Guarantee to modern Public Transportation and Job Training isn’t just a luxury, it’s a necessity. Give the workforce the tools they need to find new work and sources of income for their families so another “Great Recession” can never again destroy the livelihoods of so many families for so long a time

10.) TRUELY PROGRESSIVE TAX REFORM: since the 1980’s when Reagan and his “Supply-Siders” cut taxes on the wealthy while cutting back Federal Aid to the states, taxes have become more and more regressive. High Property taxes in the states made up for the Federal Aid that used to be paid for by high end marginal tax rates on the wealthy, but this means the Working & Middle Classes bear the brunt of the tax load while virtually guaranteeing an unequal education system dependant on wealthier tax payers who sequester themselves into small patches of neighborhoods throughout the country while Working & Middle Class neighborhood’s schools get gutted.
We can change this system be raising Marginal Tax-Rates on the wealthy back to their Post WWII highs of 70-95%, using the money to support local Public Schools and Libraries with money that no longer has to be dredged from the lowest income homeowners. This will also have the added benefit of greatly reducing Inequality over time through better educations for Working and Middle Class students while re-establishing an effective cap on incomes earned by the top 1% of earners.

ALL OF THESE IDEAS ARE DOABLE AND MANY WERE IDEAS PREVIOUSLY IMPLEMENTED IN THE POST WWII YEARS RIGHT HERE IN AMERICA. THESE PROGRESSIVE POLICIES HELPED CONTRIBUTE TO THE MASSIVE BOOM IN THE ECONOMY SEEN THROUGHOUT THE POST WAR YEARS FROM THE 1940’s-1970’s AND ONLY WHEN SUCH POLICIES WERE ABANDONED DOD INEQUALITY GROW OUT OF CONTROL.

IT’S TIME AMERICAN CITIZENS ORGANIZED AND STAND UP IN SOLIDARITY TO CHALLENGE THE POLTICAL ELITE IN BOTH PARTIES AND THE CORPORATE MASTERS THEY SO HAPPILY OBLIGE. IT’S TIME TO STAND UP TO THE WEALTHIEST CLASS OF MODERN SLAVE DRIVERS WHO WOULD HAPPILY SEE US ALL IN CHAINS LABORING TO INCREASE THEIR WEALTH.

STAND UP! ORGANIZE! TIME TO SAY ‘ENOUGH’S ENOUGH’ AND TAKE OUR COUNTRY BACK FOR THE MAJORITY OF AMERICANS, NOT JUST THE TOP 1%!!!!

Have Republicans betrayed their constituents?

Have Republicans betrayed their constituents by selling out the working and middle class, to give unneeded tax cuts to the wealthy?

No.

It’s what their voters wanted.

Conservatism is, by definition, protection of the status quo. Today, in the United States, it requires radical protection of the wealthy & the white. Conservative voters know this, and don’t mind the giveaways to the wealthy as long as American society’s hierarchy stays fixed.

Republican political appeal is purely tribal. Years of news that the US is becoming a majority-minority country has led the right into a new state of fear. Putin was preferred over Obama by the right years ago because of this, & now they eagerly support his puppet.

Putin’s policies did not frighten them, because they think those measures are necessary. Here. Now.

By supporting Trump & Putin, American conservatives are on the side of white-Christian supremacy, the only issue they care about, against most Americans.

That’s where they want to be. They’re willing to undermine their own families to keep the structure in place. They believe it’s worth it. They believe the alternative is worse.

They are not being duped. They simply have priorities that most of us cannot comprehend.