Do you consider yourself more left or right wing?

[zorg1000]

Chrkeller said:

zorg1000 said:

1. That actually makes a lot of sense, since that time period people have become much more individualistic which could explain the mindset of “does this benefit me?â€Â rather than “does this benefit society?â€Â

2. I can’t speak for the “leftâ€Â as a whole but my view on taxes is basically that the Bush & Trump cuts were a mistake and the Clinton era rates found a healthy balance that allowed us to have a budget surplus while also being able to increase spending on infrastructure, education, healthcare and create the Child Tax Credit.

https://www.americanprogress.org/article/tax-cuts-are-primarily-responsible-for-the-increasing-debt-ratio/

With the exception of one time spending bills to combat the Great Recession & COVID-19, these tax cuts are responsible for 90% of the increase to the debt ratio. We had found the sweet spot of taxes rates that allowed for a balanced budget, the economy to thrive and continue to invest in things that help the working class……we threw that all away so rich people could get richer.

Agreed.  Clinton had a great balance and was fair.  Taxes were fine.  I'm happy to take on more taxes, when someone (like you did) provides what "tax the rich means."  Going back to the Clinton days is fair.  

Thanks for providing metrics not silly cartoons.  

No problem!

The thing that is hard about simply going back to Clinton tax rates is that while the Bush/Trump cuts were skewed towards the rich, they did also include cuts for the middle class (I’ve seen estimates put it at an 80/20 split) and it’s political suicide to increase taxes on the middle class so that means the taxes on the rich would likely need to be a bit higher than the Clinton days to offset the middle class cuts.

Looking at the Biden tax proposals:

Increase top corporate tax rate from 21% to 28% (halfway between Pre-Trump & Trump rates)

Raise minimum corporate tax rate from 15% to 21% for corporations with profits over $1 billion

Raise stock buyback tax from 1% to 4%

Return top income bracket to 39.6% for individuals making over $400,000 and couples making over $450,000

Apply Social Security taxes to income over $400,000

Increase Medicare tax from 3.8% to 5% for income over $400,000

Tax capital gains at the same rate as income

25% minimum billionaire tax

Some other, extremely wonky taxes