Boomers gen x and the rich fucked us over with debt they should take more responsibility

The buy now pay later has to stop or the national debt will double to 80 trillion in 10 years.

The top 5% pay 60% of income taxes in spite of your claim.

The top10% pay 70%. The top 50% pay 97%

That’s already in excess of fair share

The billionaire class pay less taxes than your average teacher.

That's a fair point. But in a land of excess wealth it shouldn't be the poor and below average who foot the bill plus welfare shouldn't be attacked from poor people in a land of wealth. You might say poor people can earn more and might be true on an individual level but its pretty the case that no matter effort half the population will be poor or with next to nothing. Plus its still idiotic to bankrupt the country just cause you dont agree with taxes just so the rich can have more money

The taxes paid by the rich was in the range between 70% - 90%. Today the high income earners are taxed 37%. That is why the national debt is 40 trillion.

If the poor aren't footing their fair share of the spending bills, they will initiate force through voting to enact more spending laws to drive the nation into bankruptcy.

Even Europe isn't stupid enough to not tax the poor and middle class for this very reason. Yall had an experiment for 40 years with the most progressive tax scale in the world, and the debt has spoken.

Crypto currency maybe a solution. It inflates the wealth of billionaires many times over. They may not mind paying higher taxes with inflated crypto.

Digital money is digital money as dictated by digital markets.

So crypto is worth dollars and dollars is worth crypto.

As such money is an even bigger farce than it was previously.

Easy to say when you don’t have any.

Fair enough id agree that below average incomes should ve taxed more

But disagreeing with the way its done by no means justifies borrowing and bankrupting the country to throw money at the rich. The fact still remains that we became prosperous as a country with higher taxes on the wealthy and lower taxes on the middle class, but Republicans reversed that and are primarily responsible for bankrupting us

My main concern is that if you refuse to tax the poor and blindly aspire to the religion of jealousy, you are essentially constructing the perverted "2 wolves and a Sheep" style of Democracy, where you create a majority of wolves by removing accountability from the poor. And that is why they vote up unlimited spending bills. They suffer nothing for doing so. The incentives guarantee deficit spending.

If your country hadn't experimented with the idea of having the most progressive tax scale on the planet for 40 years, I would take you more seriously, but many people in your country continue to chant "tax the rich" as a sacred mantra as if the past 40 years never existed. It gets tiresome beyond fatigue. You say you are prosperous, but the past 40 years of the most progressive taxes on the planet don't show it. The very existence of Trump refutes your prosperity claim.

I dont know a lot how value added taxes work but I know many other developed countries use that a lot more than we do. Which affects even lower income people. I know I dont like the idea of an income tax on below average income but a property tax or value added tax or some sort of sales tax could work where they are only taxed for participating in the economy and not just for trying to survive

I know I dont like the idea of an income tax on below average income...

It's this thinking that has created so many wolves voting for unlimited spending.

These incentives guarantee deficit spending.

Yea I guess its ok to make everyone have skin in the game

As long as your ultimate point isn't that the only thing you favor is lower welfare spending and higher tax on the poor and working class

My ultimate point is that society functions better with more trust if welfare is given through charity instead of being taken through sin taxation.

Charitycannot raise the high amount needed to support welfare of the people.

When it is given, it's always received with gratitude and more than deserved; when it is taken, it's always received with resentment and longing. That's basic human psychology.

The givers are more appreciated than takers. Even though charity needs takers.

A free society requires no takers to sustain it. A free society punishes, reforms, or exiles takers as existential threats. But a free society is wholly unsuitable to an immoral populace, and that is true, long before and since John Adams said it.

You are repeatedly quoting nay sayers.

Debby:

The billionaire class pay less taxes than your average teacher.

That is not true by either percentage [and no one pays taxes by a commodity known as "percentage points"] or by dollars [the actual commodity of taxpaying].

And by dollars, remember [that is if you ever knew] just because one is a billionaire does not mean their annual increase is $1B or greater annually. Oops.

"Billionaire" status, or "millionaire," is a statement of net worth, not annual income. Further, the top 1% [anyone earning $750k annually or greater] pay over 40% of the total income tax revenue. There are about 1.3M 1 percenters in the US. That is about 0.52% of all taxpayers. So, your 1 percenters, 1.3M of us, are paying >40% of the total txx revenue. That's MORE than fair share, sister. Get it? Yet? Another lesson in doing research before posting.

Debby;

Charity cannot raise the high amount needed to support welfare of the people.

11% of the US population lives below the poverty line. https://usafacts.org/answers/what-is-the-us-poverty-rate/country/united-states/

The average household in the US is 2.5 people https://www.census.gov/quickfacts/fact/table/US/HCN010222

The poverty line for a household of 2.5 people is $27.3K. https://www.healthcare.gov/glossary/federal-poverty-level-fpl/

26% of people below the poverty line have less education than a high school diploma

https://www.idra.org/resource-center/college-degrees-are-worth-it-people-with-bachelors-degrees-have-lower-poverty-rates/

These stats tell me that lack of education is a major problem contributing to poverty. In every state of the union, a high school education is free of tuition charges. Also, a common excuse rthrown up ids that school supplies are not free. Wrong: https://www.propel.app/blog/free-school-supplies-for-low-income-families/

What's the excuse for not having a high school diploma? Not poverty.

Debby,

You are repeatedly quoting nay sayers. [to Shoresy, your #21]

John Adams is a naysayer? Yeah, against blather. At least Shoresy bothers to quote rather than post stuff that is too easily refuted by doing your own research. Don't have time? You make time; it is too easily wasted. Adams knew that, too.

Hmmmm, Trump paid zero federal income taxes in 11 of the years between 2000 and 2017

Re: your #25

And that claim is based on a NY Times article, which is about as certified true as the lie that I am a closet communist. Or that the Sun is the precise center of the Universe. Hell, it's not even the precise center of the Solar System.

Hmmmm, Donald Trump never voluntarily released his tax records, breaking a decades-long tradition followed by U.S. presidents and major presidential candidates.

What is it about "voluntary" that is misunderstood, even with tradition? Voluntary is a candidate-by-candidate choice, correct? To hell with tradition. Doing something because everyone does it is the worst justification.

I guess Trump didn't want people to know that he was a crook.

I beieve 98% of the people who would insist on seeing Trump's tax return would not have a clue how to read his, let alone their own.