The Rich are eating your babies, how's it feel?

For the first time on record, the 400 wealthiest Americans last year paid a lower total tax rate — spanning federal, state and local taxes — than any other income group in the USA, according to newly released data.

The overall tax rate on the richest 400 households last year was only 23% (mine was 31%), meaning that their combined tax payments equaled less than one quarter of their total income, but you have to be a billionaire in order to qualify

That was down from 70% in 1950 (ah, the good old days when we had a middle class and upward economic mobility was a given) and 47% in 1980 (decline evident, the Dream is over)

But this is good news, right?

I mean all that excess cash is just going to go back into the system and benefit this country as a whole, right?

I mean that's what the Pukes have been shitting out of they're mouth's for the last 50 years or so, especially since Reagan.

And then came along Trump with his new tax code, and the American people bought all his BS, hook, line and sinker, but now the facts are coming in and those facts ominously point to a widening income gap and a national debt that will be nearly impossible to reign in.

But hey, I'm just a psycho stoner that doesn't get the big picture I guess.

But but but but without the super rich, who would create all the jobs?

captainmorgan said:

But but but but without the super rich, who would create all the jobs?

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Somebody has to polish the brass on their yachts.

Trickle down economics is reliant on the “multiplier effect,” which is non existent when large percentages of profits are simply going into far eastern emerging markets/offshore bank accounts.

1.2 trillion deficit is the largest since 2012 and close to 2/3rds of Americans are living paycheck to paycheck.

Hey
Now that China is no longer a concern the wealthy can hire people at below poverty level wages to do their menial task
Oh wait...

captainmorgan said:

But but but but without the super rich, who would create all the jobs?

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Your retort makes me think you may have attended the Bernard Sanders school of economics. Tsk, tsk.

PokerJay83 said:

Trickle down economics is reliant on the “multiplier effect,” which is non existent when large percentages of profits are simply going into far eastern emerging markets/offshore bank accounts.

1.2 trillion deficit is the largest since 2012 and close to 2/3rds of Americans are living paycheck to paycheck.

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1.2 trillion deficit of what?

2/3 thing, got a link, I have some questions it might be easier to read for myself to figure out what they are measuring/mean when they say that. Because like are they including elderly population who are getting a SS check? Or are they considering only employed people, if so then it wouldn't be 'Americans' it would be 2/3 employed adults, that kind of stuff.

Oh and your multiplier effect thing doesn't really make any sense, a multiplier is really just any number, it can be larger or smaller than 1. Are you a fan of the Von Misses garbage by any chance?

hanimmal said:

1.2 trillion deficit of what?

2/3 thing, got a link, I have some questions it might be easier to read for myself to figure out what they are measuring/mean when they say that. Because like are they including elderly population who are getting a SS check? Or are they considering only employed people, if so then it wouldn't be 'Americans' it would be 2/3 employed adults, that kind of stuff.

Oh and your multiplier effect thing doesn't really make any sense, a multiplier is really just any number, it can be larger or smaller than 1. Are you a fan of the Von Misses garbage by any chance?

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Even when porkerjay is right he gets it wrong. We have a large deficit mostly because of corrupt actions by wealthy elite in this country so that part is true. The rest of it is fake. Why create a conspiracy theory when the truth is damning?

Von Mises. LOL

Fogdog said:

Even when porkerjay is right he gets it wrong. We have a large deficit mostly because of corrupt actions by wealthy elite in this country so that part is true. The rest of it is fake. Why create a conspiracy theory when the truth is damning?

Von Mises. LOL

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Cough cough warfare / welfare state.

The barter system retard is preaching economic theories, folks

hanimmal said:

1.2 trillion deficit of what?

2/3 thing, got a link, I have some questions it might be easier to read for myself to figure out what they are measuring/mean when they say that. Because like are they including elderly population who are getting a SS check? Or are they considering only employed people, if so then it wouldn't be 'Americans' it would be 2/3 employed adults, that kind of stuff.

Oh and your multiplier effect thing doesn't really make any sense, a multiplier is really just any number, it can be larger or smaller than 1. Are you a fan of the Von Misses garbage by any chance?

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1.2 trillion deficit of what??? A deficit is a deficit... as in we are spending 1.2 trillion dollars more than we are taking in on taxes?

Multiplier effect... is a basic term in any entry macro economics course.... common bro... duuuurrr

PokerJay83 said:

1.2 trillion deficit of what??? A deficit is a deficit... as in we are spending 1.2 trillion dollars more than we are taking in on taxes?

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Deficit is just a word, you mean the Budget deficit? Then it was $984billion in 2019, it will be like $1.14trillion in 2020 because Trump gave that tax cut to the wealthy and a large chunk to corporations (especially real estate stuff).

And what @Rob Roy said, wars, and social economic programs.

PokerJay83 said:

Multiplier effect... is a basic term in any entry macro economics course.... common bro... duuuurrr

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Yeah but you said some stupid shit about "Trickle down economics being reliant on it". Tossing in a entry level econ term to come off smart is just sad. Trickle down economics was just another way to stop the taxes on the rich folks, it just caught me funny that you threw in 'multiplier' in such a nonsensical way.

hanimmal said:

Deficit is just a word, you mean the Budget deficit? Then it was $984billion in 2019, it will be like $1.14trillion in 2020 because Trump gave that tax cut to the wealthy and a large chunk to corporations (especially real estate stuff).

And what @Rob Roy said, wars, and social economic programs.


Yeah but you said some stupid shit about "Trickle down economics being reliant on it". Tossing in a entry level econ term to come off smart is just sad. Trickle down economics was just another way to stop the taxes on the rich folks, it just caught me funny that you threw in 'multiplier' in such a nonsensical way.

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Oh ffs the dildo face that is so brilliant he voted for Hillary, wants a specification between deficit and “budget deficit” lol. Gtfo bro. Fkin retard.

PokerJay83 said:

Oh ffs the dildo face that is so brilliant he voted for Hillary, wants a specification between deficit and “budget deficit” lol. Gtfo bro. Fkin retard.

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With all the Trump's trade wars, I wasn't sure if you meant a trade deficit, your number was wrong so I didn't immediately know what you were talking shit about.