You’re all set, the GOP has the house

[Pete F.]

Originally Posted by Jim in CT

wayne, here we see data that shows that for tax year 2020, the top 1% had 22% of total national income, yet paid 42% of the total national federal income tax.

In other words,,their share of the national tax burden was just about twice as large as their share of national income.

The tax code can likely be tweaked to make it more fair. But it’s already very, very progressive. Trump increased the number of people
at the bottom who pay nothing, by doubling the standard deduction. You should celebrate that. but we know why you won’t.

https://www.ntu.org/foundation/tax-p...s-income-taxes

in a growing economy, wealth inequality has to increase, because the wealthy have more to invest. You can’t prevent that, and there’s no sane reason to try. would you support a law that makes it illegal to work or invest after someone becomes a billionaire?

one persons wealth, doesn’t hurt anyone else, assuming they didn’t steal it. the liberal fixation of the wealthy, who today are mostly liberals.

The democrats ran the show for two years, how come they didn’t do anything to fix it?

Jim,
The data presented by NTU shows the increase in wealth inequality since the Reagan administration.
Carried to the logical conclusion of your theory that wealth inequality has to increase, we all end up as serfs, living in homes owned by
the wealthiest and with no opportunity to escape.
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[Jim in CT]

Originally Posted by Pete F.

Jim,
The data presented by NTU shows the increase in wealth inequality since the Reagan administration.
Carried to the logical conclusion of your theory that wealth inequality has to increase, we all end up as serfs, living in homes owned by
the wealthiest and with no opportunity to escape.
Posted from my iPhone/Mobile device

the point of the data i posted, is that the top 1% pay a share of income tax that’s twice as large as their proportion of income. Which means, our tax system is very progressive

Wealthy people getting wealthier, does not make anyone else a surf. Wealth is not finite. If Jeff Bezos earns another million this afternoon, that doesn’t mean there’s a million less for
me and you to scrounge for. it has zero impact on me and you, other than it probably decreases our tax burden.

here, you’re saying wealth is bad. but in other posts, you brag that the wealthiest people are mostly democrats.

So which is it?

One persons wealth, doesn’t cause another persons poverty. It’s not a zero sum game.

Every single one of us, knows people who started out poor and got rich.

[Pete F.]

Originally Posted by Jim in CT

the point of the data i posted, is that the top 1% pay a share of income tax that’s twice as large as their proportion of income. Which means, our tax system is very progressive

Wealthy people getting wealthier, does not make anyone else a surf. Wealth is not finite. If Jeff Bezos earns another million this afternoon, that doesn’t mean there’s a million less for
me and you to scrounge for. it has zero impact on me and you, other than it probably decreases our tax burden.

here, you’re saying wealth is bad. but in other posts, you brag that the wealthiest people are mostly democrats.

So which is it?

One persons wealth, doesn’t cause another persons poverty. It’s not a zero sum game.

Every single one of us, knows people who started out poor and got rich.

Call it whatever you want, in 1971, a whole lot more American adults were living in a middle-class household. That's not the case today, as the middle class has shrunk in the last five decades — and the richest households have seen their earnings swell.
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