Biden’s fitness for a second term

Apparently she has me on ignore because she is ignoring the Washington Fact Check article.  😀

Which is why it is pointless to debate her.
I imagine she is on an all caps rant just like her dear leader. She is every bit as delusional and idiotic as he is.

The way the tax cuts were written, the top 1% would progressively benefit more each year. So an opinion based on 2017 does not accurately reflect the whole picture.

www.npr.org/2017/10/04/555433641/who-will-benefit-most-from-gop-tax-plan-early-report-suggests-the-wealthy

The tax breaks are even more tilted to the wealthy by the 10th year of the overhaul, when the Tax Policy Center projects nearly 80 percent of the savings would go to the top 1 percent of earners.

From the nonpartisan CBPP, written last month: www.cbpp.org/research/federal-tax/the-2017-trump-tax-law-was-skewed-to-the-rich-expensive-and-failed-to-deliver

I happen to have read that opinion piece about NPR as well. It was published in a right-wing forum started by Bari Weiss.

www.thefp.com/p/npr-editor-how-npr-lost-americas-trust

News media can falter, no matter their best intentions. Individuals can have differing opinions and views of situations.

But when a supposedly experienced, competent, and honest media figure makes a statement like this:

”But when the Mueller report found no credible evidence of collusion, NPR’s coverage was notably sparse.”

… all bets are off. A reading of the Mueller Report disproves the claim that he found no credible evidence of collusion.

This opinion piece is full of OPINIONS, not all of which are supported by the FACTS.

It’s not the first time this has happened with your sources.

In my inbox this am. Maybe start looking at state and local taxes.

www.cbsnews.com/news/tax-irs-income-taxes-who-pays-the-most-and-least/?utm_source=join1440&utm_medium=email&utm_placement=newsletter


Americans think they pay too much in taxes. Here's who pays the most and least to the IRS.
By Aimee PicchiUpdated on: April 11, 2024 / 11:47 AM EDT
moneywatch
Edited By Anne Marie Lee

Most Americans think they pay too much in federal income taxes, and about 6 in 10 mistakenly believe middle-income households shoulder the highest tax burden.

In fact, only about 18% of adults correctly identified the group facing the highest federal tax burden, which are high-income Americans, according to a January poll from AP-NORC.

With less than one week left to file tax returns for 2023, taxes are on the mind of millions of Americans, with many expecting refunds, and others owing money. Only about 27% of taxpayers believe their federal income taxes are fair, with 60% believing their burden is too high, AP-NORC found.

In fact, the U.S. tax system is designed to be progressive, meaning that lower-income Americans pay a smaller share of their income in federal taxes than high-income workers, noted Alex Muresianu, senior policy analyst at the Tax Foundation, a think tank focused on tax issues.

"Raising another dollar from someone who is higher income is not going to be as much of a burden to them as raising another dollar from someone who is lower income," he said.

At the same time, there's a push from some lawmakers and policy experts to boost tax rates for the rich, with President Joe Biden proposing to reverse a rate cut on the nation's top earners that was part of the 2017 Tax Cuts & Jobs Act. Under Biden's proposal, the top marginal rate would return to 39.6% from its current level of 37%.

In 2021 (the most recent data available), the typical earner paid $14,279 in federal income taxes, with an average tax rate of 14.9%, according to a recent Tax Foundation analysis of IRS data. Federal taxes don't include the payroll tax that covers Social Security and Medicare.

But it's the top 50% of earners who contribute almost all of the nation's federal taxes — nearly 98%. The bottom 50%, who individually make below $46,637 annually, account for about 2.3% of the country's tax receipts.

Of course, this excludes the impact of other taxes that aren't as progressive, such as state and local sales taxes, which are levied at the same rate on every consumer, regardless of their income level. That means low-income Americans pay a bigger share of their earnings toward sales taxes than higher-earning people.

The top 10%, with incomes of at least $169,800, pay about three-quarters of the nation's tax bill, the analysis found.

Although most Americans believe the middle class bears the heaviest tax burden, it's actually the top 1% who pay the highest federal tax rate, at 25.9%, the Tax Foundation analysis found.

But the average tax rate paid by the top 1% has declined in recent decades, according to the Tax Foundation analysis. For instance, in 2001, the nation's top earners had an effective tax rate of 27.6% — almost two percentage points higher than their current rate.

The analysis also found that the top 0.1% of earners, with at least $3.8 million in annual income, pay an effective federal tax rate of 25.7%, which is a hair lower than the 25.9% tax rate for the top 1%.

Ultra-wealthy households often have access to tax loopholes and write-offs that aren't available to salaried workers who receive W2s, and much of their income can also stem from capital gains, which has a lower tax rate than earned income.

About 6 in 10 Americans said they were bothered by the feeling that corporations and the rich aren't paying their fair share in taxes, Pew Research found last year. That may explain why about two-thirds of those polled said they support higher taxes on the rich.

^^^^^^ I’m sure this article is factually correct. But it misses the mark in that the issue (to me, at least) isn’t what proportion of total taxes paid are paid by the very rich rather than by the middle class. (And please just leave the bottom 50% out of this equation entirely. They should be paying very little or nothing.) Of COURSE most of the tax burden should fall on the wealthiest people.

The issue is that income taxes should be progressive. Instead, they are headed in a more regressive direction. When the country goes far more deeply into debt (approved by the very same guy who assured us he would erase the national debt in his first term) in order to provide much bigger tax breaks to rich people than to middle class and working class people, I have a problem with that.

This seems accurate.  The last couple of bills where Trump told the Republicans how to vote were not in the country's best interests.



me first


On every issue for Donald Trump it’s not “America first” it’s “me first.”

standing with Trump


Swalwell on CNN on Mike Johnson: "Standing with Trump when it comes to national security means standing with terrorists... standing w/Trump as it relates to Ukraine means standing with Putin, & standing with Trump as it relates to the border means standing with chaos & disorder"

When you don't have to use campaign money to pay legal bills, you can pay for things like ads and campaign offices. This is why how much money President Biden and Trump are raising matters.




Biden ad





campaign offices