The Government Just Admitted It Doesn't Really Try to Collect Rich People's Taxes

[Dashinka 24,941]

6 minutes ago, yuna628 said:

And yet all the old people that complain about government spending and socialism that I know never want anyone to pry Social Security out of their hands....

And all the young people paying into now feel they will never see a thing when it comes time.  Like any pyramid scheme, getting in late is bad.

[Dashinka 24,941]

43 minutes ago, Steeleballz said:

 

  Well right now, we are mostly redistributing it to the wealthiest 1% and have been for some time. The other 99% moves closer to the poverty line. I'm not sure why anyone thinks that is a good thing unless you are part of the 1%. 

Well, pre-Covid, the poverty rate was going down even with the tax cuts, so not really sure where you are getting your numbers.  In fact the poverty rate started dropping in 2015 under Obama, 

 

https://www.census.gov/library/publications/2020/demo/p60-270.html

 

 

[Ban Hammer 13,695]

1 hour ago, Steeleballz said:

 

  Well right now, we are mostly redistributing it to the wealthiest 1% and have been for some time. The other 99% moves closer to the poverty line. I'm not sure why anyone thinks that is a good thing unless you are part of the 1%. 

when was the government put in charge of redistributing any wealth in any way?

[Steeleballz 7,550]

30 minutes ago, Ban Hammer said:

when was the government put in charge of redistributing any wealth in any way?

 

   The first income tax levy in the USA started during the civil war. Taxation in general has been around since the beginning of recorded history. Technically, all taxation is the redistribution of wealth, although not the only means by which it is accomplished.

Edited March 22, 2021 by Steeleballz

[Steeleballz 7,550]

51 minutes ago, Dashinka said:

Well, pre-Covid, the poverty rate was going down even with the tax cuts, so not really sure where you are getting your numbers.  In fact the poverty rate started dropping in 2015 under Obama, 

 

https://www.census.gov/library/publications/2020/demo/p60-270.html

 

 

  There is a difference between the poverty rate and the number of people who are moving in that direction relatively. Looking at median income is not even a great measure. Looking at wages as a percentage of GDI shows we are at a 60 year low point. Just looking at real wages, they are below where they were in the 1970's right now. However looking at adjusted cost for housing or groceries and the average purchasing power is not even close. 

 

  We are also unlikely to be moving in the right direction with the current economic situation. Recessions tend to exacerbate the existing gaps, and we have already seen that during the pandemic.

 

  

[Nature Boy 2.0 8,386]

On 3/22/2021 at 4:02 PM, yuna628 said:

And yet all the old people that complain about government spending and socialism that I know never want anyone to pry Social Security out of their hands....

cause its our money forcibly  taken from us with the promise of giving it back if we live long enough

[Dashinka 24,941]

20 minutes ago, Nature Boy 2.0 said:

cause its our money forcibly  taken from us with the promise of giving it back if we live long enough

Actually they gave your money to someone else, so you are simply hoping there are others still paying into the scheme so you eventually get a portion of what you donated by force.

[Steeleballz 7,550]

1 hour ago, Nature Boy 2.0 said:

cause its our money forcibly  taken from us with the promise of giving it back if we live long enough

 

   If you're lucky. I never got that promise. My very first SS statement back in the day said they expected it to only be 78% funded by the time I retire. It's only gone downhill from there.

[spookyturtle 9,466]

On 3/22/2021 at 12:01 PM, Dashinka said:

So why did the IRS reduce the audits?  Btw, I loved the glossed over math that shows a $400 billion budget boost over ten years to the IRS would bring in an additional $100 billion in revenue.  Not a very good return.  Other than that, the story was what would be expected.

I thought that the top 50% of taxpayers payed 95% of the taxes or somewhere near those figures. 

[Crtcl Rice Theory 2,432]

On 3/22/2021 at 9:09 AM, Steeleballz said:

 

   It's called the trickle up theory. It's actually working as intended. The payout to corporate executives from the Trump tax cuts has been $1.35 trillion so far, but we all get an extra $25 a paycheck too, so everyone can be happy.

I know for me, allowing the real smart rich people to keep all of that money is probably better for everyone, I am happy if I can take my wife to Applebee's.

[yuna628 9,752]

21 hours ago, Dashinka said:

Actually they gave your money to someone else, so you are simply hoping there are others still paying into the scheme so you eventually get a portion of what you donated by force.

Like my dad says he doesn't care if the money is there for me or anyone else as long as he gets his. He doesn't care at all one bit. He still hasn't gotten his $1400 yet. He railed against the bill and socialism.... but he wants his $1400, and more if they gave it to him.

[Dashinka 24,941]

12 minutes ago, yuna628 said:

Like my dad says he doesn't care if the money is there for me or anyone else as long as he gets his. He doesn't care at all one bit. He still hasn't gotten his $1400 yet. He railed against the bill and socialism.... but he wants his $1400, and more if they gave it to him.

It is always tough when faced with the prospect of having tax money returned to the taxpayers instead of being spent on wasteful federal government services.  

[Steeleballz 7,550]

17 minutes ago, Dashinka said:

It is always tough when faced with the prospect of having tax money returned to the taxpayers instead of being spent on wasteful federal government services.  

 

 They are not returning money instead of spending. They are doing both. Money is still being wasted. They are just (and have been) doing it on credit instead of wasting money that's already been collected. We still get the bill, even if it's deferred. 

 

 We probably can all agree that wasting tax payer money is bad practice, but wasting money you don't even have and expecting someone else to pay down the road is infinitely worse. 

[Dashinka 24,941]

8 minutes ago, Steeleballz said:

 

 They are not returning money instead of spending. They are doing both. Money is still being wasted. They are just (and have been) doing it on credit instead of wasting money that's already been collected. We still get the bill, even if it's deferred. 

 

 We probably can all agree that wasting tax payer money is bad practice, but wasting money you don't even have and expecting someone else to pay down the road is infinitely worse. 

And yet that is what will be happening especially if Biden's infrastructure/GND and reparations bills make it through congress.  The Feds are far beyond being able to pay anything back even with tax hikes to everyone, and if they do raise taxes which is most likely going to happen, they will just continue to keep wasting/spending any increases in revenue.  Now if you see that happening differently, I would not mind seeing proof that Biden, the Dems or the GOP in DC have any plans of actually servicing the debt with any tax increases.