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Topic: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes

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Cincydawg

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46382 on: Today at 10:19:07 AM »
Congress approved President Trump’s massive budget bill—nicknamed the “Big, Beautiful Bill”—sparking different responses across the political spectrum. The bill is the most extensive piece of legislation in American history.
From the Left: An opinion published in New York Magazine (Left bias) described the legislation as “deeply reactionary” and a sweeping rollback of social and environmental gains that would be “unpopular once the public finally understands its Reverse Robin Hood nature.” The author argued that Trump’s singular achievement was passing such a far-reaching, controversial agenda in one bill with minimal pushback, writing, it “will justify his lavish self-congratulations.”
Republicans’ Split Perspectives: Kentucky Sen. Rand Paul (Lean Right) wrote his dissent in the Courier Journal (Lean Left) citing concerns over raising the national debt. He wrote, “All I wanted was a real debate on our national debt levels. They could have had my vote and saved money but instead chose more spending and tax and welfare changes.” Conversely, Sen. Erin Houchin (R-IN) detailed his support for the bill in The Hill (Center), saying it was “aimed squarely at Main Street, not Wall Street.”
Trump’s Campaign Promises: The Washington Examiner (Lean Right) framed the bill as an overall positive development in Trump’s presidency, writing: “Trump’s more serious, more focused approach to his second term…paves the way for him to be the first president to have the country on the ‘right track’ in the past 16 years.” The piece also noted his approval rating around 46%, arguing the bill could boost his standing ahead of future elections. 
Track more of Trump's campaign promises here. Read more about the bill's effects here.

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Cincydawg

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46383 on: Today at 10:21:13 AM »
Much of this bill was an extension of current tax policy.  It bears repeating I surmise that changes in tax RATES don't seem to impact tax REVENUE.

This left current marginal income rates where they were, so no change.

It also bears repeating that "billionaires" by and large don't pay taxes on earned income because they don't have it (of any consequence to them, perhaps there is an exception).  A billionaire can easily and legally avoid all Federal income taxes.
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OrangeAfroMan

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46384 on: Today at 10:35:10 AM »


Why??
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847badgerfan

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46385 on: Today at 10:35:43 AM »
Quote from: Cincydawg on Today at 10:21:13 AM
Much of this bill was an extension of current tax policy.  It bears repeating I surmise that changes in tax RATES don't seem to impact tax REVENUE.

This left current marginal income rates where they were, so no change.

It also bears repeating that "billionaires" by and large don't pay taxes on earned income because they don't have it (of any consequence to them, perhaps there is an exception).  A billionaire can easily and legally avoid all Federal income taxes.
Increase in the child tax credit. No tax on tips. SALT from $10K to $40K. Car interest deduction. Etc.

The only people this bill hurts are those of us who give a shit about the deficit and national debt.

We all (well, almost) know about the billionaire thing and the taxes.

Maybe tax anyone making over X/year on the amount they borrow, as if it were income.

We could discuss the positive things billionaire's do for this country.
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847badgerfan

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46386 on: Today at 10:36:39 AM »
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Cincydawg

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46387 on: Today at 10:43:23 AM »
Quote from: OrangeAfroMan on Today at 10:35:10 AM


Why??
It is inherent that any tax cut (or in this case lack of tax increase) will mostly benefit higher income earners.  They pay the most taxes so a cut benefits them the most.

Our income tax rates often are more progressive than those in Europe (which hit the middle class there a lot harder than they do here).

I personally liked the idea of a higher tax bracket for incomes over some rather high amount, maybe 40% on incomes over say $750,000, but in reality that would raise little revenue.  It would be mostly for show.
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OrangeAfroMan

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46388 on: Today at 10:57:20 AM »
I feel like people making between $100-$400K a year should hate the billionaires most.  But they're so occupied with wanting to be IN that group that they can't see what's in front of them.

With the total and utter apathy to the deficit, the term 'fiscal conservative' doesn't exist anymore.  Maybe it does for the people, but not for any lawmakers.  They're spineless shills bending the knee to their overlord.  It's disgusting.

I don't think billionaires are evil, but you can't become one without fucking over a large group of underlings.  You may call them employees, but they're paid as little as legally possible.  And if they can find someone willing to do the job for a cent less...
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Cincydawg

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46389 on: Today at 11:01:51 AM »
I don't think anyone making $400,000 a year is going to have much angst about billionaires, or they shouldn't anyway, it's wasted emotional effort.  These folks are nowhere near billionaire territory obviously.  The fact some billionaires exist in the US doesn't really concern me, at all.

Should we have a wealth tax?  Maybe, I'd need to see the details to offer a specific opinion.  I also think that wealth tax would generate relatively little revenue, as the countries in Europe discovered.  I see folks on FB constantly complaining about billionaires.  I guess it lets them blow off steam.  
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847badgerfan

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46390 on: Today at 11:04:54 AM »
Some people hate millionaires. It's nice to be hated. Not that anyone cares.
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OrangeAfroMan

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46391 on: Today at 11:06:26 AM »
One of us sees the plight of the poor on a daily basis and the rest don't. 

Hmmph.  I wonder if that has anything to do with it.
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Cincydawg

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46392 on: Today at 11:08:36 AM »
I see poor folks daily, and try and do stuff that helps them.  If we magically eliminated all billionaires, we'd still have poor people.

We already have a very progressive tax system compared with Europe.  We waste a lot of that revenue on silly stuff in my view.

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brisco_0317

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46393 on: Today at 11:09:40 AM »
Quote from: OrangeAfroMan on Today at 11:06:26 AM
One of us sees the plight of the poor on a daily basis and the rest don't.

Hmmph.  I wonder if that has anything to do with it.

And yet you won’t voluntarily pay more taxes to help - you’re just virtue signaling. 
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Cincydawg

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46394 on: Today at 11:21:37 AM »
I pay what I owe, no more.  If I have extra, I donate to causes that I feel are more efficient at solving problems than government.

I do have extra, and I do donate.  I don't donate much time, I'm too lazy.

And I don't really care that billionaires exist.
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brisco_0317

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46395 on: Today at 11:39:09 AM »
Quote from: Cincydawg on Today at 11:21:37 AM
I pay what I owe, no more.  If I have extra, I donate to causes that I feel are more efficient at solving problems than government.

I do have extra, and I do donate.  I don't donate much time, I'm too lazy.

And I don't really care that billionaires exist.

You’re just generous with other people’s money 😉
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