MikeBon

@MikeBon@mstdn.social

Ordinary American
Small town In western MA
Fiscal Progressive
Humanist
Live and let live, help if you can.

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QasimRashid, to random
@QasimRashid@mastodon.social avatar

A quick history lesson. From 1940-1980:
•Wealthiest paid 70-94% marginal tax
•0 of them went broke from taxation
•0 of them left USA
•All remained exceedingly wealthy
•Manufacturing boomed
•The middle class was 62% of US economy (It's now 40% post 'trickle down scamenomics)
•We had the strongest middle class growth in US History

Let's do that again. Stop protecting billionaires. Start taxing them.

MikeBon,

@freemo @pmonks @QasimRashid
Now Dr. Explain to us how tax credits and tax write offs work to lessen the tax burden for the wealthy. Not to even mention the tax deferrals offered in 401ks and IRAs. So the real question is not what is the tax bracket you're in but what is the effective tax rate you actually pay. That's why Buffet says his secretary pays more in tax than he does.

MikeBon,

@freemo @pmonks @QasimRashid sorry I'm a little behind on this thread, right now. It's just the "cry me a river" over how high my tax bracket is, is a bit over done. Here is a question for everyone, what are the purposes for taxes anyway. If you say to pay for federal policies and programs, well, you been duped.

MikeBon,

@freemo @pmonks saying exclusively is misleading. They loopholes aren't necessarily exclusive but are designed to benefit the wealthy more so than the non-wealthy. Which ones, you ask? All of them. Again that's why effective tax rates for the wealthy are as low as they are.

MikeBon,

@freemo you're being purposely obtuse. Again using exclusivity is irrelevant. The greater the wealth the greater the benefit. Effective tax rate is all that matters.

MikeBon,

@freemo most business taxes are not available to those not wealthy enough to own a business. The same with the several tax breaks for owning real estate.

MikeBon,

@freemo idk who you think you're fooling but it ain't me.

MikeBon,

@freemo there is no point in engaging with you.

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