Quote:
Originally Posted by Ooloo
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When you cut taxes on the ultra wealthy, the government actually collects more net tax revenue because the ultra wealthy provide so much in the first place, and are less likely to stash money offshore to avoid higher tax rates.
"Tax the rich" is more utopian nonsense that doesn't work in practice. And the rich already contribute the majority of tax revenue. Fun facts, them all.
Libs don't understand taxes, like at all. It's why they ran with the "Trump only paid 700 dollars in taxes lol!" bullshit, when he in fact paid millions in taxes. He also made money, so the differential was something like 700 dollars essentially. Such a load of horse shit, and people just eat it up.
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No...
The richest one percent earn about 21 percent of the income and pay 24 percent of the taxes.
In fact the top four percent paid less taxes than the top 20%
https://nymag.com/intelligencer/arti...the-taxes.html
The Trump Tax cuts have and never will pay for themselves in economic gain and certainly not in extra Tax money since they cut taxes to corporate.
And we lost so much economic gain from Trump's mismanagement of Covid.
but republicans in general have come with a lot of recessions attached to their terms
In general it isn't good for the countries economics to have a republican president.
List of starting recessions:
February 2020 (Trump / R)
December 2007 (Bush 43 / R)
March 2001 (Bush 43 / R)
July 1990 (Bush 41 / R)
July 1981 (Reagan / R)
November 1973 (Nixon / R)
December 1969 (Nixon / R)
April 1960 (Eisenhower / R)
August 1957 (Eisenhower / R)
July 1953 (Eisenhower / R)