Democrat Wins

[Back]

Sounds like you are just regurgitating things you heard on MSNBC.

Which corporate tax loopholes allow millionaires to become billionaires?

Which corporate subsidies allow millionaires to become billionaires?

Which personal loopholes allow millionaires to become billionaires?

What do you propose for the tax brackets to be to stop millionaires from becoming billionaires?

Here are the federal tax brackets currently:

10% $0 to $11,925
12% $11,926 to $48,475
22% $48,476 to $103,350
24% $103,351 to $197,300
32% $197,301 to $250,525
35% $250,526 to $626,350
37% Over $626,350

What do you propose they should be that would prevent millionaires from becoming billionaires but keeping with your "no one is saying people shouldn't earn money."

Cap on individual wealth? I don't even know what this means, given you also claimed "No one is saying people shouldn't earn money". Does this mean that if someone sells a company that they've spent their entire life building and it's worth 2 billion.. they get to keep whatever money gives them a total wealth of 999,999,999.99 but not a penny over? If someone had 900 million dollars, what would be their incentive to expand their business to hire more workers if they get nothing from it?

Have enough money they and their family needs to survive? What? You can survive on 50K a year... should we make that the cap?

Where does all this "extra" money go? Are we just confiscating anything over 999 million?

That's all stuff that needs to be hashed out. There are solutions out there. What they are depends on what we all agree on. What is needed is courage to stand up to the wealthy class.

PS. People need to hold themselves to a higher self worth than what is dictated by the advertising of luxury brands and depictions in movies. Every single person on this planet is as important as the next. Everyone deserves more respect than they get from the wealthy class. People need to stop being so hard on themselves because they aren't "rich". A person's real worth is not from their wealth. Not everyone wants to be rich anyway. Just comfortable.

[Suppressed Poet]

It's not just that we allow a handful of people to hoard so much resources. It's that we allow them to use their wealth to influence policies that benefit them above everyone else. It's because everyone pitches into what we call America, the wealthiest nation on Earth, so everyone should have basic social safety such as food, housing, healthcare, and education. Right now the system allows the wealthiest to pay little to zero taxes while everyone else does, pays shit wages and has unaffordable prices on everything we need to survive so that a few people can have more money than they could possibly spend in their lifetimes or fly rocket ships into space.

It's amazing to me that you would be in favor a system that cheats you of a better standard of living so that a few people can have more money than everyone else combined.

We have food stamps in America. We have federal housing programs. We have Medicare & Medicaid. We have public education. What more “social safety net” programs do you want?

I reject your premise that the top earners don’t pay their share in taxes. The bottom half of earners pay net-zero in taxes (meaning they receive more in federal benefits than they pay in taxes) while the top 10% account for $1.5T / 72% of the national total individual income tax collected.

You shouldn’t be surprised. I’m doing just fine. My children are well taken care of. I own my financial future, and see no need to steal from people wealthier than me. I have more in common with billionaires than I do with you. What you call spreading the wealth is a fancy term for theft.

[Parkbandit]

It's not just that we allow a handful of people to hoard so much resources. It's that we allow them to use their wealth to influence policies that benefit them above everyone else. It's because everyone pitches into what we call America, the wealthiest nation on Earth, so everyone should have basic social safety such as food, housing, healthcare, and education.

Much like your socialist dream.. everyone doesn't actually "pitch" in. The bottom HALF of the country pays about 3% of the total taxes received by the federal government.

50% gives 3%

Seems like everyone isn't pitching in on the American dream.

Right now the system allows the wealthiest to pay little to zero taxes while everyone else does

This is factually incorrect, but a common talking point by liberals who honestly are probably in that bottom 50% tax bracket.

The top 1% of wage earners pay 41% of all tax revenue by the US government. This isn't me saying it.. this is the IRS office in 2022 saying it.

How does that equate to "the wealthiest pay little to zero taxes" you constantly regurgitate?

pays shit wages

Again, not true. The US ranks 7th after countries like Bermuda, Monaco, Liechtenstein, Luxemberg, Norway and Switzerland for the highest average wage.

and has unaffordable prices on everything we need to survive so that a few people can have more money than they could possibly spend in their lifetimes or fly rocket ships into space.

Again, untrue. US ranks 17th in the world on affordable prices when compared to income.

It's amazing to me that you would be in favor a system that cheats you of a better standard of living so that a few people can have more money than everyone else combined.

The only thing that is preventing you from having a better standard of living is.. you.

Crying about other people's success hasn't been very useful for you over the past 40+ years... why not try something else?

[Parkbandit]

We have food stamps in America. We have federal housing programs. We have Medicare & Medicaid. We have public education. What more “social safety net” programs do you want?

They aren't even social safety nets at this point. There are 3rd and 4th GENERATIONS of families that have used these programs their entire life.

[Parkbandit]

That's all stuff that needs to be hashed out. There are solutions out there. What they are depends on what we all agree on. What is needed is courage to stand up to the wealthy class.

PS. People need to hold themselves to a higher self worth than what is dictated by the advertising of luxury brands and depictions in movies. Every single person on this planet is as important as the next. Everyone deserves more respect than they get from the wealthy class. People need to stop being so hard on themselves because they aren't "rich". A person's real worth is not from their wealth. Not everyone wants to be rich anyway. Just comfortable.

I'm looking for actual policy plans from you rather than just talking soundbites you heard on MSNBC.

Like what do you believe the "cap" on wealth should be and how do you motivate people near those caps to continue to work?

What is your idea to tax wealthy people more? By how much?

What is your plan to confiscate the money from anyone over that cap?

Real socialism is a pipe dream and has worked exactly zero times in the history of this planet. How do you believe it will work differently "this" time?

[Back]

We have food stamps in America. We have federal housing programs. We have Medicare & Medicaid. We have public education. What more “social safety net” programs do you want?

I reject your premise that the top earners don’t pay their share in taxes. The bottom half of earners pay net-zero in taxes (meaning they receive more in federal benefits than they pay in taxes) while the top 10% account for $1.5T / 72% of the national total individual income tax collected.

You shouldn’t be surprised. I’m doing just fine. My children are well taken care of. I own my financial future, and see no need to steal from people wealthier than me. I have more in common with billionaires than I do with you. What you call spreading the wealth is a fancy term for theft.

That's great. What I am talking about is helping people who are less fortunate than we are. And before you tell me to give all my stuff away I'll remind you that I pay my share of taxes that are used to fund all sorts of programs not all of which I agree with.

Healthcare, education, and now home prices are outrageous. It's estimated that a 4% to 6% wealth tax on just 1% of the population would cover healthcare and education for everyone. Those 1% would still enjoy outrageous amounts of wealth. It's not only a smart thing to do it's the right thing to do.

[Suppressed Poet]

That's great. What I am talking about is helping people who are less fortunate than we are. And before you tell me to give all my stuff away I'll remind you that I pay my share of taxes that are used to fund all sorts of programs not all of which I agree with.

Healthcare, education, and now home prices are outrageous. It's estimated that a 4% to 6% wealth tax on just 1% of the population would cover healthcare and education for everyone. Those 1% would still enjoy outrageous amounts of wealth. It's not only a smart thing to do it's the right thing to do.

I pay my share of taxes too. You want to cry for the poor & downtrodden, but you are not willing to sacrifice what’s yours for that cause. It’s always someone else’s money.

You commies always just assume the super rich will just gladly pay whatever new taxes you scheme no matter how exorbitant. They won’t. They will take their wealth and they will leave. Now you just lost all of their tax revenue, not just those additional gains. Guess what happens next? We need to make up that lost tax revenue by raising taxes on everyone else. This will happen in NYC if/when Zohran gets elected and implements those same policies, just like it has happened in places all over the world throughout history.

[Parkbandit]

That's great. What I am talking about is helping people who are less fortunate than we are. And before you tell me to give all my stuff away I'll remind you that I pay my share of taxes that are used to fund all sorts of programs not all of which I agree with.

Do you though?

You pay less than most people pay.. and certainly far far far less than the top 10%

I hope you will address this in your "plan" so "everyone" can "pitch in" to this new economy of yours.

Healthcare, education, and now home prices are outrageous. It's estimated that a 4% to 6% wealth tax on just 1% of the population would cover healthcare and education for everyone. Those 1% would still enjoy outrageous amounts of wealth. It's not only a smart thing to do it's the right thing to do.

So, you propose a new bracket on the top 1% of the population, a "wealth tax" of 4-6%? Let's just say 5%

Let's look at this.

So the top 1% is for wage earners making $540,000K per year

This would account for an additional 111 billion dollars per year, using 2022 data.

Now let's calculate healthcare costs for everyone as well as education.

Free healthcare for all would cost about $2.4-2.8 trillion dollars per year.
Free higher education for all would cost about 75 billion dollars per year.

So together, we're looking at 2.5 trillion dollars-2.9 trillion dollars. Let's meet in the middle at 2.7 trillion dollars per year.

Where are you getting the additional 2.59 trillion dollars per year from?

Your math ain't mathing.

[Parkbandit]

This will happen in NYC if/when Zohran gets elected and implements those same policies, just like it has happened in places all over the world throughout history.

Oh stop.

I'm sure Zohran will be the best Mayor for NYC.

He has my complete endorsement.

[Suppressed Poet]

Back,

Why don’t you play the game of gaining wealth?

1) Save at least 10% and aim for 20% of your net income every pay period. Make this a habit you never falter from.
2) Build an emergency savings fund. Aim for enough to cover at least 6 months of your living expenses.
3) Pay off your debts starting with the highest interest.
4) Start investing in whatever you are comfortable with.

There are plenty of people out there that can coach you on the details, but above is a good starting point.

You too could be rich like Bernie. The discipline is difficult, but the concept is easy & proven.