Trump's Tax Plan Would Add $5.3 Trillion To National Debt

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Arkaign said:

Soundwave said:

Pretty much. 

The theory is if you let rich people pass less in tax, surely that money will make it back to "regular joes". 

Except it kinda doesn't, lol. Rich people as it turns out are usually rich because they don't throw away their money in stupid ways and even if they aren't "money smart" the first thing rich people do is hire people like accountants/managers to handle their money who do know how to keep that money indefinitely. 

And if they do invest, it's not in some local factory, it's going to be in the "global market", holding/buying stocks/bonds, buying debt, property overseas, etc. etc. And those companies under pressure to maximize profit to look appealling to said investor ... guess where they go to make products? In fact the tax system incentivies you never "cashing out" of the stock/bond market, you want to hold them basically until death and never liquidate assets unless you have to. You use dividends and interest earned from your investments to pay for your mansion, yachts, wife, mistress' shopping trips, cars, etc. 

"Average Joe USA" ain't gonna see a damn nickel of that money, lol. 

Absolutely, and yet you have countless zombies in the middle class and often below who bleat like sheep "Cut taxes, taxes are socialism/communism". The same group of imbeciles who nearly burst a blood vessel when some suggested returning the top marginal rate to 39% from 35% for top earners. The complete nonsense coming out from the 'Joe the Plumber' fiasco was a perfect example of this unthinking repitition of propaganda.

Perhaps more importantly to me is uncapping the limit for social security contribution, setting Capital Gains at pre-1980 levels, and outlawing tax haven practices offshore. Eliminate corporate welfare as well. Implement a sliding corporate tax rate for the % of workers in the USA. 100% workers = minimal corporate tax rate, 0% workers = 75% taxation.

The funny thing is that a more intelligent tax code could actually lower taxes on 85% or more of the population, even those who rabid right-wing types like to claim 'pay no taxes'. Blatant BS. People pay taxes on everything, even their income via SS.

I'm not giving the 'left' a free pass either, as the so-called 'Affordable Care Act' is really just more enforced corporate welfare that funnels more money by force of law into the vampiric business interests that create the most expensive health care system on earth, but far from the best health results.

It's a damned mess. I don't like any of the candidates. I'm so tired of trying to choose the best of bad options. 300 million fucking people and we constantly have buttholes making the final cut. It's so senseless.

39% of Americans think they will one day make it to the top 1%. They don't want tax increases on the rich because they think they'll be there one day, so they don't want their future selves to have to pay all that tax. And they're using their "struggling to make ends meet" current mindest when thinking about that massive big tax rate. Rather than realising that that huge tax rate only comes into play when you already have more money than you need to give yourself a comfortable life and reasonable long term financial security.