How are we going to pay for all this shit?

[Tiny]

Originally Posted by WTF

You seem to have forgotten about regressive taxes

The USA has the most progressive tax system in the developed world.

You're on my bad side now. You made fun of my book.

[Strokey_McDingDong]

Fuck god damn taxes. You should be able to have a say where your tax money goes. The fgt politicians just do whatever tf they want with it. How the hell is that a democracy? Now they want more taxes because they fucking botched their COVID response. Why are we being punished for it? How about they just cut their salaries and stop spending money on stupid fucking shit.

[Tiny]

Originally Posted by Jacuzzme

The wealthy pay nearly everything. The almost wealthy pay the rest. A good half pay nothing at all and are the ones who vacuum up all the resources. What we need to do is tax the poor and reduce taxes on the rich, they’ve been carrying the slugs for too long already.

A flat tax where everyone pays a certain percentage of their income is the way to go. And none of this employer withholding bullshit, you save it up and write a check every quarter, like independent businesses have to. It’d last about six months and society’s leeches wold revolt when they had to put in THEIR money, and burn Washington to the ground. I’td be entertaining.

And taxes have nothing to do with revenue, they’re social engineering. Obonga fucked up and admitted as much.

Good post Jacuzzme.

Charles Gibson asked Obama if he'd raise the capital gains tax even if it resulted in less revenues to the government. That's what happens when you raise the capital gains tax too high, people just don't sell so they don't have to pay the tax. Obama essentially said maybe that's worth it to make the system more fair. In other words, making everybody poorer is a worthwhile goal for society, if it also makes everybody more equal.

[Tiny]

Originally Posted by Strokey_McDingDong

Fuck god damn taxes. You should be able to have a say where your tax money goes. The fgt politicians just do whatever tf they want with it. How the hell is that a democracy? Now they want more taxes because they fucking botched their COVID response. Why are we being punished for it? How about they just cut their salaries and stop spending money on stupid fucking shit.

Because that's what politicians do. They want you to send your money to Washington D.C. so they can spend it on stupid shit.

Who's benefitting from your federal taxes? Well, maybe this is an indication,

https://en.wikipedia.org/wiki/List_o...GDP_per_capita

GDP per capita in the District of Columbia is over 2X that of any state!

[Strokey_McDingDong]

How can we say we live in a free democratic republic when politicians are robbing us in plain site and there's nothing we can do about it?

[The_Waco_Kid]

Originally Posted by lustylad

Why don't you guys look this shit up?

Federal revenues in FY 2021 (which ended Sept. 30) were $4.05 trillion! That's a whopping 22% higher than they were in FY 2017, the last year before that "huge" tax cut took effect.

Doesn't look like anyone was "deprived" to me!


Boom Times in the Beltway

Federal revenue hits a record $4 trillion. Who needs a tax increase?

By The Editorial Board
Oct. 12, 2021 6:47 pm ET


Washington has had an excellent pandemic. If you doubt it, look no further than the Congressional Budget Office’s summary for revenues and outlays for fiscal 2021, which ended on Sept. 30. The federal government has never had it so good—literally.

The budget gnomes estimate that federal receipts rolled in at a record $4.05 trillion for the year, the first time annual revenues have exceeded $4 trillion. This is not a record to be proud of—like breaking the four-minute mile. Receipts rose 18%, or a remarkable $627 billion, in one year.

Nearly every revenue stream chipped in more, except for payroll taxes, which were flat. Individual income taxes rose $443 billion, or 27.5%, to reach $2.05 trillion. That’s about 9% of the entire U.S. economy. As CBO’s monthly budget summary dryly observes, “that increase most likely reflects higher total wages and salaries, particularly among the relatively high-income workers who are subject to higher tax rates on earnings.”

Translation: The rich had a good year, but they also paid a huge fiscal dividend in taxes. Question for President Biden : Does $2 trillion qualify as a “fair share”?

Corporate income taxes also rolled in at an astonishing rate, rising by 75% for the year, or $158 billion to $370 billion. That reflects robust corporate profits, but keep in mind this revenue boom came with the current 21% top corporate tax rate that passed with the GOP tax reform in 2017. Mr. Biden and Democrats keep telling Americans that corporations aren’t paying enough, even as the corporate tax boom gives them more money to spend.

Even the Federal Reserve contributed to the Beltway boom, increasing its remittances to the Treasury by 22%, or $18 billion, to $82 billion. That’s the money the Fed earns from its vast bond holdings, which have soared during the pandemic and continue to increase despite the economy’s rapid growth of the last year. This is another reason the political class doesn’t want the Fed’s “emergency” policies to end.

For readers who still care about budget deficits—and we don’t mean anyone in Congress—the revenue boom was swamped by another record spending increase. Outlays rose 4% in the fiscal year, or $265 billion, to $6.82 trillion. That’s 30% of GDP in federal spending alone. Some of that will ebb as pandemic emergency payments expire—that is, unless Democrats succeed in making them permanent or adding new benefits as part of Mr. Biden’s $5 trillion entitlement plan.

All of this raises the question: With tax revenues coming in like a gusher, and the economy slowing from supply-side shortages, why raise taxes at all? In particular, why raise tax rates when the current rates seem to be capturing the profits of companies and the income of individuals well enough?

There’s no fiscal or economic logic to it, so the likely answer is simply to punish Americans who make more than what Mr. Biden thinks is “fair.”

https://www.wsj.com/articles/boom-ti...ue-11634075748

Originally Posted by WTF

Without replying to each point...there is something you need to understand. Revenues are up because of all the fucking free money that was dumped in the economy. That did not have a fucking thing to do with the 2017 tax cuts. Jesus.

Second...anyone with half a brain knows that 2021 was going to be a much much better.

And yes I've made on paper much much more than 18%!

so ..... you are claiming that the rise in CORP revenue to the gov is all because of this ...



https://www.irs.gov/newsroom/cares-a...sked-questions


Q. If governments use Fund payments as described in the Fund Guidance to establish a grant program to support businesses, would those funds be considered gross income taxable to a business receiving the grant under the Internal Revenue Code (Code)?

A. Yes. The receipt of a government grant by a business generally is not excluded from the business's gross income under the Code and therefore is taxable. However, a grant made by the government of a federally recognized Indian tribe to a member to expand an Indian-owned business on or near reservations is excluded from the member's gross income under the general welfare exclusion.


and thus the one and only reason why gov coffers are fuller than in recent memory all the while IGNORING the soaring economy of 2017/2018/2019 just because it was Trump's unchained (Obama fucked up the economy) economic growth.


okay. right.

if you ..


BAHHAAHAAAA

[nevergaveitathought]

from what I've heard

the 1.75T pork bill over ten years isn't 1.75T

unless you count things the way dims count things

supposedly there are booby traps placed in the bill to keep the bill at 1 75T for public consumption and talking points

where some programs sunset during the ten year period only expecting them to be renewed later under a "new" bill which of course doesn't count now

any truth to that?

[Tiny]

Originally Posted by nevergaveitathought

from what I've heard

the 1.75T pork bill over ten years isn't 1.75T

unless you count things the way dims count things

supposedly there are booby traps placed in the bill to keep the bill at 1 75T for public consumption and talking points

where some programs sunset during the ten year period only expecting them to be renewed later under a "new" bill which of course doesn't count now

any truth to that?

Yes, that’s true. Some of these programs that they’d like to fund for 10 years, and keep in effect forever, only have two year lives. The Progressives are banking on being able to extend these before they expire.

[Tiny]

Originally Posted by Strokey_McDingDong

How can we say we live in a free democratic republic when politicians are robbing us in plain site and there's nothing we can do about it?

Maybe we live in a democratic state, since we have reasonably fair elections, but we we sure as hell can’t say we’re free.

[nevergaveitathought]

Originally Posted by Tiny

Yes, that’s true. Some of these programs that they’d like to fund for 10 years, and keep in effect forever, only have two year lives. The Progressives are banking on being able to extend these before they expire.

isn't it all a lie?

seems like lying to me

why am I not shocked?

[Tiny]

Originally Posted by nevergaveitathought

isn't it all a lie?

seems like lying to me

I agree. Remember what Biden and Psaki said. This won’t cost anything. If that’s not a lie what is.

[nevergaveitathought]

Originally Posted by Tiny

I agree. Remember what Biden and Psaki said. This won’t cost anything. If that’s not a lie what is.

thank goodness we have aoc to kill this crap

[oeb11]

Originally Posted by Strokey_McDingDong

Fuck god damn taxes. You should be able to have a say where your tax money goes. The fgt politicians just do whatever tf they want with it. How the hell is that a democracy? Now they want more taxes because they fucking botched their COVID response. Why are we being punished for it? How about they just cut their salaries and stop spending money on stupid fucking shit.

you do have say - SM
did You vote for Fiden??
if So - That vote was Your say!


Don't like the Democratcommunist party agenda??
Vote - NOv 2022 and 2024- for a needed change from communist takeover of America.

[Jacuzzme]

Originally Posted by Tiny

Maybe we live in a democratic state, since we have reasonably fair elections, but we we sure as hell can’t say we’re free.

You live in Iraq?

[WTF]

Originally Posted by The_Waco_Kid

so .....


and thus the one and only reason why gov coffers are fuller than in recent memory all the while IGNORING the soaring economy of 2017/2018/2019 just because it was Trump's unchained (Obama fucked up the economy) economic growth.


okay. right.

if you ..


BAHHAAHAAAA

Originally Posted by WTF

https://www.forbes.com/sites/chuckjo...-last-3-years/
Trump’s Economic Growth Is Slower Than Obama’s Last 3 Years

Chuck Jones

Hmmm


Over the 12 quarters Trump has been President only four of them have had GDP growth over 3% and six of the quarter’s growth was 2.3% or lower. And for the past three quarters GDP growth has been 2.0%, 2.1% and 2.1%, respectively. This is a far cry from Trump’s claim that the economy could growth 4%, 5% or maybe even 6% when he was President. It