Tax cut bills consistently raise taxes for the 99%. It’s concealed in the form of an IOU that every taxpayer owes, for the increased stratospheric debt.
The Republican tax bill is often described as being weighted toward “the rich.” But that’s not the full story.
It’s actually weighted toward the loafer, the freeloader, the heir, the passive investor who spends his time yachting and charity-balling.
In short: the idle rich.
Rich layabouts benefit in multiple ways from the proposal.
The most obvious way is the repeal of the estate tax, which currently affects only estates worth at least $5.49 million, or roughly the wealthiest 0.2 percent of Americans who die each year.
Eliminating estate taxes paid by the very wealthy few seems unlikely to improve their work ethic. If anything, increasing the value of their bequests will make it less attractive for heirs and heiresses to hold down a job or start a company that they actually run.
This is hardly the only way that the Republican tax proposal would reward passively received income. The big cut in corporate tax rates and the corporate repatriation holiday also disproportionately benefit passive owners of capital rather than workers.
But the bill’s differential treatment of those who work and those who don’t is starkest in provisions related to “pass-through” entities.
An article I just read said that 400 millionaires wrote a letter to Congress asking them (Congress) to tax the letter writers more not less taxes as they (the millionaires) did not feel it was right to get more tax cuts at a time when our country was in such financial crisis. How much do you want to bet that Congress just ignores them and goes ahead and cuts their taxes anyway?
Jason Allen over 6 years ago
That’s the thing with con men. They’ll tell you what ever you want to hear except for the truth.
Masterskrain Premium Member over 6 years ago
#2. How much do you have left?
Send in #2.edward thomas Premium Member over 6 years ago
This was a REPUBLIC meme during Bill Clinton’s Presidency. As usual, the Republic law “makers” are screwing the people they are supposed to represent!
Cerabooge over 6 years ago
Tax cut bills consistently raise taxes for the 99%. It’s concealed in the form of an IOU that every taxpayer owes, for the increased stratospheric debt.
Striped Cat over 6 years ago
Trump wants to call it the “Cut, Cut, Cut, Bill”. If it was properly named it would be the “Benefit the Rich at the Expense of Everyone Else Bill.”
Radish the wordsmith over 6 years ago
I always filed my taxes on one sheet of paper, its called the short form.
Silly Season over 6 years ago
(Repost)
https://www.washingtonpost.com/opinions/who-wins-biggest-in-the-gop-tax-plan-the-lazy-rich/2017/11/06/0d010482-c337-11e7-84bc-5e285c7f4512_story.html
The Republican tax bill is often described as being weighted toward “the rich.” But that’s not the full story.
It’s actually weighted toward the loafer, the freeloader, the heir, the passive investor who spends his time yachting and charity-balling.
In short: the idle rich.
Rich layabouts benefit in multiple ways from the proposal.
The most obvious way is the repeal of the estate tax, which currently affects only estates worth at least $5.49 million, or roughly the wealthiest 0.2 percent of Americans who die each year.
Eliminating estate taxes paid by the very wealthy few seems unlikely to improve their work ethic. If anything, increasing the value of their bequests will make it less attractive for heirs and heiresses to hold down a job or start a company that they actually run.
This is hardly the only way that the Republican tax proposal would reward passively received income. The big cut in corporate tax rates and the corporate repatriation holiday also disproportionately benefit passive owners of capital rather than workers.
But the bill’s differential treatment of those who work and those who don’t is starkest in provisions related to “pass-through” entities.
Radish the wordsmith over 6 years ago
Republican Post Card Tax
How much did you make?
How much do you have left?
Send it to us.
Mr. Blawt over 6 years ago
If we get a dime for a tax cut, we’ll see prices go up by twenty cents. The corporations will get their tax cuts, then prices will go up.
fritzoid Premium Member over 6 years ago
The Perils of One-Point Perspective:
I gather the woman in the cartoon is SUPPOSED to be sitting on the sofa, but it looks like she’s got really short legs (and hooves for feet).
Sadandconfused9 over 6 years ago
An article I just read said that 400 millionaires wrote a letter to Congress asking them (Congress) to tax the letter writers more not less taxes as they (the millionaires) did not feel it was right to get more tax cuts at a time when our country was in such financial crisis. How much do you want to bet that Congress just ignores them and goes ahead and cuts their taxes anyway?
Union Man over 6 years ago
Tell spineless Ryan i am still waiting for Saint Ronny’s trickle down effect some 35 plus years later.