Agreed, nobody wants their goodies cut so it will have to be tax increases.
Agreed, nobody wants their goodies cut so it will have to be tax increases.
Remind me to never loan you any money.
why? Im debt free, retired, have a nice house, own land and live on a self made "allowance".
Id never ask anyway, lol.
Sure you're debt free, except for that $50k that you owe China.
Id rather owe the chinese than cheat em out of it.
Your taxes are only collected once a year, your only on the hook for whatever taxes are due that year. I understand that collectivly we are in debt and run a deficit. Ive got a vague grasp of the issue. Im sure the Chinese understand how the system works and what the risks are.
But you let me know when China sends you a tax bill for $50,000+, ill pay yours and mine.
Your taxes are only collected once a year, your only on the hook for whatever taxes are due that year. I understand that collectivly we are in debt and run a deficit. Ive got a vague grasp of the issue. Im sure the Chinese understand how the system works and what the risks are.
But you let me know when China sends you a tax bill for $50,000+, ill pay yours and mine.
Im not peachy keen about our debt or deficit, both are staggering numbers. I doubt it will ever get fully under control. But im not the kinda guy who worries about who might be paying for a bus.
Which is how we went from bussing people to the DNC to political rhetoric about how much people owe due to a breakdown of the debt clock.
Which is how we went from bussing people to the DNC to political rhetoric about how much people owe due to a breakdown of the debt clock.
So where do you raise them?
In 2009, the 1% ($343,927+) accounted for 16.9% of AGI and 36.7% of income tax revenue. The 5% ($154,643+) accounted for 31.7% of AGI and 58.7% of income tax revenue.
I would venture and educated guess that even increasing taxes on the top 5% to the 90% rate seen during WW2 wouldn't make a dent even if you actively forced them to stay in the country.
And even then, all that Congress would see it as is "I CAN HAZ MOAR 2 SPEND 4 MOAR VOTEZ". And the cycle continues.
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