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

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medinabuckeye1

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46536 on: July 07, 2025, 08:36:36 PM »
Quote from: OrangeAfroMan on July 07, 2025, 08:27:11 PM
A certain portion of our leaders only care about the now.  Their lives.  And couldn't care less if the earth exploded the day after their deaths. 
On this I agree 100%. 

Some of the worst are what passes for "moderates". These are generally Politicians who vote with D's to increase spending then turn around and vote with R's to cut taxes. 
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medinabuckeye1

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46537 on: July 07, 2025, 08:40:32 PM »
Quote from: OrangeAfroMan on July 07, 2025, 07:14:42 PM
I love that the general response to having rich people actually pay taxes is "nah, it wouldn't work." 

What if people making $40K replied that way? 
Stop giving people a pass who skirt the system.  Fix the system.
I don't think anyone is giving them a pass. There are at least three issues. 

The first, which I've covered in great detail is that "the rich" are much harder to pin down because of the flexibility that they enjoy.

The second is that hitting "the rich" harder tends to slow down the economy because it reduces the incentive to take risks. 

The third is that "the rich" aren't a big enough block to raise all that much revenue from anyway.
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MarqHusker

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46538 on: July 07, 2025, 08:48:56 PM »
Isn't anyone old enough to remember the obscenely high marginal federal income tax rates for nearly every year since WWII.  Talking 70-91%.  Between 1945 and 1981.
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FearlessF

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46539 on: July 07, 2025, 08:51:56 PM »
yup, deficit wasn't out of control
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"Courage; Generosity; Fairness; Honor; In these are the true awards of manly sport."

medinabuckeye1

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46540 on: July 07, 2025, 09:42:04 PM »
Quote from: FearlessF on July 07, 2025, 08:51:56 PM
yup, deficit wasn't out of control
Yes but, revenues weren't appreciably higher then:https://fred.stlouisfed.org/graph/?g=ockN
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Gigem

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46541 on: July 07, 2025, 09:44:15 PM »
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GopherRock

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46542 on: July 07, 2025, 09:48:35 PM »
Quote from: OrangeAfroMan on July 07, 2025, 07:14:42 PM
I love that the general response to having rich people actually pay taxes is "nah, it wouldn't work." 

What if people making $40K replied that way? 
Stop giving people a pass who skirt the system.  Fix the system.
The 2013 Minnesota Legislature, at the behest of Gov. Mark Dayton, added 2% to the state income tax at the $150K bracket to resolve the state's budget shortfall. 

The next few years rather robustly demonstrated that the wailing and gnashing of teeth over how such tax hikes would lead to economic ruin was, and is, complete horse shit. Then again, trickle-down economics has always been complete horse shit, but I don't think some here are ready for that discussion. 

https://www.huffpost.com/entry/mark-dayton-minnesota-economy_b_6737786
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bayareabadger

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46543 on: July 07, 2025, 09:52:41 PM »
Quote from: 847badgerfan on July 07, 2025, 02:24:06 PM
A simple concept that hardly anyone understands.

In our peak earning year, we paid $80K+ in taxes and used no services (except roads).

Our unfair share was paid.
What income gets that much taken out, put of curiosity?
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MarqHusker

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46544 on: July 07, 2025, 11:29:36 PM »
Quote from: GopherRock on July 07, 2025, 09:48:35 PM
The 2013 Minnesota Legislature, at the behest of Gov. Mark Dayton, added 2% to the state income tax at the $150K bracket to resolve the state's budget shortfall.

The next few years rather robustly demonstrated that the wailing and gnashing of teeth over how such tax hikes would lead to economic ruin was, and is, complete horse shit. Then again, trickle-down economics has always been complete horse shit, but I don't think some here are ready for that discussion.

https://www.huffpost.com/entry/mark-dayton-minnesota-economy_b_6737786
It's certainly contributed to some wealthy Minnesotans to leave the state. Recent  IRS and Census data on 'out migration' at nearly all but low income levels has not been flattering for MN, or WI and IL for that matter. 
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Cincydawg

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46545 on: Today at 06:58:22 AM »
A small increase or decrease in marginal income tax rates likely won't have more than a small impact on ... much of anything, including tax revenue.

The thing that happens pretty consistently at the Federal level is Republicans cut taxes some and claim to cut spending, then Democrats get in and increase spending and claim they want to raise tax rates (but very rarely do).  So, we are where we are, comparatively low top marginal income tax rates and very high spending.
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847badgerfan

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46546 on: Today at 07:11:58 AM »
Quote from: OrangeAfroMan on July 07, 2025, 06:18:38 PM
You are delusional.
Who patrolled your community as you slept?
You didn't dial it, but what number would you have dialed to save your ass in an emergency?
What entity educated everyone around you in order to contribute to a pleasant community of businesses, customers, and public service?


Used no services my ass.
What part of those things are Federal services?

Our property tax in our last year in that shit state were $18K. I'd say we more than paid for our services that we used.

Who patrolled? Palatine Police.

Do you believe emergency transport to a hospital is free? Not for those who can pay.

Education? In Crook County? Private schools are the way.

Delusional? Look in the mirror.
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U RAH RAH! WIS CON SIN!

847badgerfan

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46547 on: Today at 07:15:12 AM »
Quote from: bayareabadger on July 07, 2025, 09:52:41 PM
What income gets that much taken out, put of curiosity?
A lot.
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Cincydawg

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46548 on: Today at 07:24:18 AM »
I ran taxable income of $2 million in GA:

Your Income Taxes Breakdown

Tax TypeMarginal Tax RateEffective Tax Rate2024 Taxes*
Federal37.00%32.77%$655,320
FICA2.35%2.76%$55,203
State5.39%5.33%$106,506
Local0.00%0.00%$0
Total Income Taxes40.85%$817,029
Income After Taxes$1,182,971
Retirement Contributions$0
Take-Home Pay$1,182,971

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Cincydawg

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46549 on: Today at 07:26:14 AM »
This is one million, married:

Your Income Taxes Breakdown

Tax TypeMarginal Tax RateEffective Tax Rate2024 Taxes*
Federal37.00%28.53%$285,320
FICA2.35%3.17%$31,703
State5.39%5.26%$52,606
Local0.00%0.00%$0
Total Income Taxes36.96%$369,629
Income After Taxes$630,371
Retirement Contributions$0
Take-Home Pay$630,371


This presumes one is not an employer of course.  Obviously, any cut in the top marginal rate is going to be a larger cut for this HH than another than makes a tenth as much.
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