Do you beleive in Trickle Down Economics?

[OddBeMe]

No sex jokes! Unless they’re good.

Majority of Congress and prob Biden still believe giving incentives and tax breaks to the top earners and companies will “trickle down” to the middle class.

Yes trickle economics works.

No, trickle economics is the dumbest thing people still believe.

[BetaBucks]

Not sure on definitions being used here, but tax incentives to rich people and to corporations have dramatically different effects on the economy. One helps, one harms.

When you raise taxes (reasonably, so they don't leave the country) on rich people it adds money to the tax base and softens the burden on the lower classes. When you raise taxes on corporation, you raise prices to all people (poorest are impacted the hardest), you reduce pay and jobs to the employees (poorest impacted the hardest), you incentivize the companies to expand instead of taking profits (small businesses impacted the hardest, therefore the lower classes) and probably some other things I'm missing. Taxing personal income is the healthiest way to get tax revenue. Long term capital gains income needs to be synced with personal income tax, the way short term gains income is synced.

But a lot of the above problem would be solved if we banned corporations, outright. This would solve a million other problems in our world too. It takes more planning than I could ever explain through an app, but it's doable.

[OddBeMe]

Agreed it’s multi faceted issue. But it seems like corporations have expanded their definition of tax burden to…anything. Why does all the incentive money or bailouts get used for JUST stock buybacks and never American hires or pay raises?

Hell freaking minimum wage only got raised because of all the protest.

[Sasquach]

The other very doable option is to cut gov subsides requirements/spending, thereby lowering the tax of the poor, middle, and upper class would need to source. Moreover if you made corporations compete for market share, the people would have cheaper and better made products anyway

[msc545]

@Sasquach Considering that most govt spending is directed to corporations, you cannot cut that spending - the corporations will not allow it, and they run this country.

[OddBeMe]

@msc545 yeah defense budget is a socialist system.

[msc545]

Rich people don't pay taxes. Guess who has to take up the slack?

[BetaBucks]

@msc545 according to the latest stats I can find, the top 1% of income earners in the US pay 45.78% of the total federal income taxes, so they're definitely not dodging taxes completely. The ones really dodging it the most are the ones that take income as long term capital gains, but I'm not sure if that's counted towards the 45% figure or not.

About the gov spending comments you made, it's one of the topics that pisses me off the most about our government. There is so much ridiculous amounts of wastage and collision with corporations, that people should be going to prison for it. Like how money goes to treating homelessness, but someone just ends up in a bunch of rich people's pockets. Or anything to do with gov contactors and the bullshit bid systems or the ridiculous price tags we pay for the tiniest thing. It's all legal theft from the taxpayers and we all get to foot the bill for it. If we can't ban corporations, the least we could do is ban corporate lobbying and dramatically change the gov contracting and subsidy systems.

[msc545]

Unfortunately, there will be no reform because corruption is too lucrative for some people.

[BetaBucks]

Yep, I know you're right...

[OddBeMe]

Why would 1% paying 40% cause people to defend them? Dont they know the bottom half pay zero taxes because they’re too poor?

[BetaBucks]

If you read that as me defending them, or even insulting them, you misread. If I misunderstood your comment, then I'm the one that misread.

[CaptainSmartass]

Banning companies? Nyet, Tovarishch. Take your commie crap back to Russia.

[msc545]

@CaptainSmartass Right, god forbid we should interfere with companies. Much better to foment a violent revolution and KILL the rich, right?

[OddBeMe]

@msc545 Wait…taxes are a slack now? Rich people don’t pick up the slack. They pay less percentage than I do.

[msc545]

I think we used the word slack differently.

[CaptainSmartass]

@msc545 Nope. The rich should survive. We could kill the communists and activists, though. Especially if they protest without getting a protest licence.

[msc545]

@CaptainSmartass well... no.

[SotiCoto]

Nah. It was delusion at best and outright lies at worst from the get-go.
See, the rich see money in terms of that which they have and that which they want to get. It doesn't matter to them that others might need enough to survive. And it doesn't occur to them that using money as a means to get more money (i. e. other peoples' money which they need to live) is utterly unreasonable and indecent.
They simply cannot allow money to leave their hands... so whatever might "trickle" away for an instant, they will scheme to get it back immediately.

What "trickles down" are costs, taxes and debts.
I mean if you reduce taxes on the rich, then they pocket the difference.
If you increase taxes on the rich, they will just raise the prices of their products / services until the difference is balanced out.

The only way to resolve the issue is to put actual legal restrictions in place to PREVENT them offsetting their taxes downwards... Minimum wage restrictions, price-capping, etc.

[msc545]

No. That trickle they are talking about is them pissing on your head. Money never "trickles down"; it is saved or spend by people that first receive it.

[Sevenpointfive]

college is nothing but a cesspool of alphabet soup possibilities. it's unfortunate that those choosing can't read

[OddBeMe]

And your experience comes from?

[Sevenpointfive]

same as you bro

[OddBeMe]

My experience was an established, sometime arcane, but useful and lucrative degree.

[Sevenpointfive]

i think all knowledge is useful. and the key word is "was". a custodial engineer still has an engineering degree lol

[OddBeMe]

And he’s a pro. You guys don’t seem to get what higher education actually is. A plumber is a higher educated professional, who I’d consider “white collar”

[Sevenpointfive]

you've been saying "you guys" a lot recently. is this the beginning of a split?

[OddBeMe]

I see all my argument enemies as friends. You fucks, or you guys is a reference to right leaning peeps.

I serisously hate hanging with liberals. Maybe it’s my conflict oriented nature. Or the fact they’re so fucking annoying. Lol

[Sevenpointfive]

you started off as a liberal here. were you vetting them?

[OddBeMe]

Can’t I be a liberal yet not be friends with them? I want to help poor people without talking or touching the air they breathe.

[Sevenpointfive]

well why do you have these desires to get all up in their personal space? it go very sexual with that last line and i don't know how to respond

[OddBeMe]

https://youtu.be/amkAZvSzbns

[noohair]

If people with money don't spend and invest, there will be less jobs.

[OddBeMe]

Where are the jobs then?

[Anonymous]

No, that why I'm self-employed and don't pay taxes

[OddBeMe]

I’m self employed and must pay double the taxes. Are you breaking bad?

[Opinion Owner]

I ask my accountant how much the tax threshold is
Personal taxes start at 6,570 so I earn 6,000
The whole businesses collective profit is 12,000 a year half paid to my other backers and the aforementioned half to myself
20,000 is the corporate tax threshold here applied only to profit rather than cashflow