Inside Biden's $6.8 trillion tax proposal
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- čas přidán 19. 03. 2023
- President Biden unveiled a 2024 budget proposal that revived his calls for massive new social spending and tax hikes on the rich. House Republican leaders have called this proposal “reckless”. #biden #taxes
- Komedie
"But if we fix the problem, how will we convince people that you're evil and they should vote for us?
That is exactly it. They park in the middle of the road then stand on the roof of their car complaining about the traffic jam.
It’s their entire political model.
The entire political system is f-ed up. Everyone on both sides should see that.😊
@@paulkerrigan9857it’s been that way since Reagan and his “government bad, corporations good” philosophy.
@@paulkerrigan9857 the coin has two sides
Hahahahahahahahahahaha. YOu guys are all about signalling your virtue. WHo cares that there is no chance for it to actually accomplish it (whan a Democrat names a bill, it is usually the oppsite of the name), but you can say you tried.
You can't send billions to a manufactured war in Ukraine and then complain that people don't believe you.
Inb4 people making 20k a year come in to Stan for people making 400k a year.
Ah yes so if I'm successful it comes back to bite me in the ass what a backwards country
“It’ll be me one day, I just know it!”
Godzilla had a stroke reading that.
"Oneday ill be a billionair"
As someone who makes 120k a year, 400k would be an insane amount of money to be earning, and I couldn't imagine complaining about taxes at that wage
Don't worry the GOP has made it very clear to what they want to cut. It's mostly education, EPA, NOAA and anything else that may stipend business and profit. Basically just apply ferengi logic and you'll get their budget proposal.
Even the Ferengi aren't that bad.
Stymie
Wait, you forgot to mention they want to _further_ cut taxes for corporations and the rich. The cuts run deep!
I see no problem with slashing the budget when the government learns how to not start wars and be corrupt they should have next to zero budget
wow, everything that violates the commerce clause!
Rewrite the whole tax system. Close the loopholes. End the cap on social security.
thats harder said then done, but I like the positive thinking.
Most people dont realise but if you look at government spending the biggest outliers are the military, pensions and Healthcare. Us spends more on healthcare then most places where it is "free". Pensions are what's really killing basically every country with them because they are a pyramid scheme based on a ever expanding youth. Military spending does return gdp growth in terms of innovation and safety but they need to fix there accounting since trillions is disappearing.
That's what the IRS is currently working on
What do you mean with "end the cap on social security"?
@@Hehemann007 Any income beyond $168,600 does not have to pay social security taxes
Or be desantis he just cut the whole states school art and music programs...... It was a blip in the budget he sucks
Can't be having those woke fine arts yk
/s
Coming from someone who was in an arts program, most fine arts funding comes from scholarships from private entities and fundraisers.
But a win for the uncreative losers
It was also 3.1 percent of my state’s GDP🙃
Yeah, I came from the richest county in Florida, they wasted almost a billion dollars on a theater that gets used for school events twice a year. On the plus side Inside Out was fire on 500 inches.
Ah, yes, the social security nobody born since 2000 will ever get to see
I was born in 89 and I guarantee I won't even see it.
My mother was born in '71, and it's extremely doubtful she'll see it.
You mean the social security that hundreds of thousands of people in this country are currently completely dependent on because they got old?
Yeah, she was talking about that. It sounds pretty important, maybe in need of reform instead of outright dismissal given how many lives it's saved.
Since 2000? Your hilarious, you think 80's or 90's babies will see any of it either? The folks on it in the next decade or so are it, enjoy it while it lasts folks, the rest of us are just plain screwed
Because of Republican policies. Remove the cap on social security tax and repay the over 1 trillion dollars congress stole from the social security fund and social security will be there for the foreseeable future.
Just make Elon pay taxes on his 50 billion dollar bonus and we are good to go
Have you done the math on that? We could tax the billionaires at a 100% rate and it wouldn't fund the government for a month. And you would have killed the goose who lays the golden eggs and creates all of that productivity and revenue by allocating capital that you have now seized. There are not enough billionaires to sustain our levels of spending. If the people want all this spending then the people are going to have to pay for it themselves. That means the half of the country that pays no net tax after credits. The wealthy already pay all the taxes and the middle class is tapped out.
Elon Musk paid over 30 billion in taxes in 2023, the highest in US history
Well then how the hell is he supposed to keep employing people and advancing American ingenuity
@@tyharris9994 Actually I just added it up; If you take every American billionaire richer than Ann Walton Kroenke (don’t feel like doing them all) and add it up, it equals not just a month but a whole year of federal revenue! Sources, fiscaldata.treasury.gov and Forbes billionaire list
@@tyharris9994 that statement is false... Those people aren't paying taxes.
How about instead of increasing taxes, we stop subsidizing private companies who support political campaigns.
Why not both?
@@10054 did you watch the video? the tax hikes are just for the ludicrously wealthy people who we either tax less than the average person or not at all, because our tax system was set up under the assumption that trickle-down works. if those people paid the same percentage we do, they could fund the government entirely on their own without us having to pay a dime. if this proposal were to go through, which it won't because it would go against the interests of the rich old fucks in congress, you wouldn't pay any more on your taxes
How about we stop making absurd false dichotomies. We could do both.
If they did, you wouldn't get these shorts anymore lmao
@@10054lol, if you can only afford 1 meal a day, you aren't making $400k. If you bothered to watch the short, they are only increasing taxes for people who make more than $400k.
It's a simple, common sense policy. So naturally the GOP will refuse to play ball.
We already can barely eat and healthcare is the number one reason americans go into debt. Juat reinstate the taxes for the rich that trump cut for them, stop taxing on a bar system with a cap, do it by percentages. The amount it would fund would be astronomical.
Just making sure you don’t mean one tax rate for the entire population, because that is a very stupid idea.
@MauriceOfInfiniteAtrocities No, not a base rate, that would be ridiculous and even more negative than we have now. Imo we should adopt what we see other countries doing that is working. We are supposed to be the best, so why wouldn't we do that? My solution would be a percentage based tax rate and capping what higher management positions (think ceos) can earn.
Right now our system caps put around 200k. So someone making a 200k a day will pay the same amount of taxes as someone that makes 200k a year. Why? Sweden has a law so ceos and such can't make more than 4x what the average employee makes, but our largest employees (walmart, Amazon, ect) make far far far than that while their workers are the highest group that still needs government assistance like food stamps. If Amazon's full time employees meet the poverty threshold to be approved for food stamps, why in the world can he live so comfortably? It needs to make sense and work for the average person.
@@alongcamekarmaI live in Sweden, that is not a law here
@crragg1022 perhaps you should look into it? Starting in 2023 a salary cap was indeed implemented. Just in case I was wrong I googled this again, and it is, indeed, a thing.
You do know that any profit that large companies make every year generally get reinvested one way or another back into the company.
Even if they cut a CEOs pay there's no way to force them to pay their employees more or to tax them on that money. Companies decide how much profits to show on their tax returns.
So let's say a company makes 100 million in profits this year, well if they start a company expansion and it costs them 110 million in equipment and materials then technically they didn't make 100 million, they now lost -10 million for the year and could probably get money back from the IRS.
There is no way to implement a plan like this video and you are proposing without completely dismantling the whole tax code and starting fresh.
Tax hikes are pointless when there are plenty of loopholes that make it so major companies don't even have income to be taxed. Close the loopholes first. Tax hikes only affect the people who are honest and small businesses that are the main thing preventing the big businesses from doubling prices and pretending its inflation because some of them won't do that and get all the customers.
I'm sure these taxes are meant to adress that, otherwise what would even be the reason to doing it at all
@@user-de4fp3mj8hthe bill dose nothing to close the loop holes. I wouldn't expect then to either. Its hilarious anyone thinks A group of rich multi millionaire saying they are going to raise taxes on themselves without a loopholes.
@@user-de4fp3mj8h Why you ask? Because it makes you feel good to think that kind of thing.
Notice how you dove in to cover for them. "I assume it will work in the specific way I wish it would work". Your own bias drives you to fill in the gaps, make assumptions without proof, because you like the base idea, and that makes you want to vote for them. Why wouldn't they lie to make you feel good and want to vote for them while in reality doing almost nothing to the actual rich people you want to be affected (who by the way are huge donors for these politicians specifically to get those loopholes in in the first place)?
The biggest way to close loopholes is to properly fund and motivate the IRS. This is why the GOP works so hard to do exactly the opposite.
Pointless is an unhelpful exaggeration
please build trains 😢
I feel you brother
from where to where? the population density of most of the US coupled with the size makes commuter trains in the us next to useless. only the north east and the west coast ( and the Texas triangle) is dense enough to make any sense, even then you aren't getting high speed rail without making whole new tracks.
@@edwxx20001trains should entirely replace semi trucks, and should also be an alternative method for intercity travel
@@edwxx20001aren't they building them in California
@@akilaathi458 yep, US west coast, and its takeing a very long time and tons of money because they have to build whole new highspeed rail in already built up areas which is leading to every single home owner, town, city, and environmental group gets to have their day in court before they can build it. High speed rail makes sense between the major west coast city's, but once you get off the coast, the population density drops so much it doesn't make sense to build more.
its hard to get the US government to pay for trains that don't go between multiple states. it took the cold war, and every state getting promised roads to get the interstate highway network built.
Stop spending money we don't have
That is so true!
But this is taxing rich people. So the GOP will never agree to it.
Bitched for years about how the Trump tax cuts were harmful and waited until voting time to propose doing anything about them.
it's not like proposing anything is going to make a difference, a congress of rich people isn't going to vote against their own personal interests for the good of the country
@@stevec.9037 you're 110% right.
Just stop wasting money. Daddy gov steals Enough of my money already.
I feel like we should look pess towards increasing tax rates and moreso towards reducing all of the carve outs for benefits that lead to so much revenue being lost.
It is UN-serious because we are missing the real problem. No Matter What We Cut We Still Need To SPEND LESS!
Reduce the deficit by reducing spending.
Yes, this will absolutely work. “Just raise taxes” works every time with no blowback. I swear it’s like having a 7 year old make policy changes.
For the last I don’t know 60 years we have consistently lowered taxes on the richest in America. All that has happened is that wealth has grown more concentrated whilst the Deficit has increased. Raising taxes, even in a relatively insignificant degree on our wealthiest, which probably doesn’t include most people here, would make a significant difference.
It’s a spending problem, not a Avenue problem
@@Galdenberry_Lamphuck rich people do pay bills….. you peasant. You can whine and cry….. you’ll still be poor.
Also, that doesn’t address my point.
right, the solution is to take more money from people, not to stop spending it in the first place. god bless america
Are you even listening to yourself? Tax the rich properly and you complain? Mfer you’ll never be one of them
Why is it always taxing the rich, because what’s the incentive to earn more money if you’re going to be taxed even MORE than you were before? Why can’t we just have flat blanket tax for everyone?
My guy their bank accounts are just a game of watching big numbers get bigger. Billionaires have so much money that it's impossible to spend it on anything meaningful. That money shouldn't be going to them. It should be going to the people who can't afford food and rent at the same time.
I’m not talking about the 1%, I’m talking about the other areas
It's tax the rich for many reasons. Simply because nobody needs billions to live and thus they can afford ir, to incentifise investments and spurr the economy, to protect the lower and middle strata, ...
We shouldn't do flat tax, because for that to bring in enough revenue, it would be so high it would decimate the middle and lower strata.
One hundred dollars is make or break to a poor person, it's a sneeze to a wealthy one. 10% of your income would cripple poor families and empower the wealthy further. That's idiotic.
Never said 10%, and is everyone forgetting how the American Revolution started?
Dissolve the IRS and federal
Old governments: tax the poor
New government solution: tax the rich
Stop giving money to Ukraine and stop losing BILLIONS that suddenly get found, and help the people in Maui. #Lahaina
So, the people in charge of the money spent more way than they had. Now, in order to fix the problem, they want more money? I dont think giving money to people with bad money management will suddenly make them better at mangaging money.
If you aren't cutting 3 trillion a year you haven't even started yet
That would require austerity measures, ask Britain how fun those are.
Could've cut the deficit by not passing another trillion dollar military budget
Have you seen the free world vs the not so free world?
I could see relocating police funds to schools, and legalizing marijuana to further fund schools
But we need the military, it simulates the economy and protects the global economy
So you’d rather have communists and terrorists assaulting NATO in order to have a few more houses built?
@@modernNeanderthal800you have google we’re over funding by a lot
@@modernNeanderthal800 when was the last time the usa won a war and actually gaining resources from it
@@ForeignMinds winning wars is nice, America has been PREVENTING war, especially in a global way since at least 1947.
Personally I think politicians LOVE to play war, but America likes to speak up. Today we have a fine balance between voluntary military personal who get live training and are MACHINES as well as avoid losing personal to war
Not to be that guy but social security was a bad idea that was doomed to fail. It's all the drawbacks of putting money into a retirement fund with none of the benefits. It was incredibly short sighted and made the assumption that the US population would continue to grow quickly and that the life expectancy would stay somewhere around 60 when you had to be 65 to receive benefits.
HOW ABOUT WE STOP SPENDING SO MUCH MONEY!!!!
But how will the poor poor billionaires pay for their private jets 😢
@glorifiedonion6676 they won't it will just get passed to the middle and lower class with price increases like it always has, that's why it's a waste effort
it's always over the next ten years
as if a future president has to abide by it
“Investors” are not just billionaires and rich people. How would these plans effect the retirement plans that almost every working American has?
You give the government more money they are just going to spend it and the deficit will be unchanged.
Flat rate tax with few exemptions will raise billons and be fairer
Sadly, I don't think that's ever going to happen😢
I mean the president never gets their budget passed even when their party controls congress
Algorithm be tweaking
THE DOCUMENT.
Pull a Milei and cut the budget down until we are see green again. Seriously, why is that ao foreign to people. The government does not need to employ everyone.
Yes. Cut the military as well
The problem with trying to tax the rich is they know the tax system and will wind up paying nothing anyway.
I do really like this shorts format
Ah, yes, wealth taxes. Genius
Pay your taxes, or get out of my country
@@tylerboothman4496 Pay even more taxes, or get out of my country*
I fixed it for you
@@samuelmerkel2888 an article from March 13, 2024 describes how billionaires like Musk, Bezos, and Bloomberg pay no federal income tax
@@samuelmerkel2888 Yeah, pay more than the 4% rate or whatever tf you pay.
@tylerboothman4496 I don't think you actually have any idea how much the top 10% pay in taxes.
I'm not saying you can't get more out of them, but they pay all net taxes in the country. As in, they are the only people who pay in more than they get out.
And the minimum they can get their taxes to is not 4%
Stop spending 800 Billion on the Military alone may help.
The taxed enough already crowd always complain about how the government doesnt do anything and the debt is out of control. Its almost as if you cant run a functioning government on thoughts and prayers.
We can’t afford that 😅
Nice at reducing it by 2.9 trill, but spend over 100 tril in the next 10 years
Thats how they should do it, take money from people that actually need it. Why tax the rich, they obviously need those billions to survive in thos big mansions they have.
Instead of tax hikes try reducing spending on stuff like Congress and Senate wages.
I did the math once and while it wouldn't make a dent in the deficit it could be appropriated to other things (cut-go).
It would also further make Congress only avaliable to people who are rich enough to run.
@@andrewcool it already is only available to people rich enough to run
@@Funnel_the_Fun what was the math. Bc I know cuts could decrease spending in the 8 figures which is beneficial
@@famvirious even if you were generous and proposed getting rid of pretty much everything spent on congress in benefits, you wouldn't walk away with more than a few million. Which is hefty, but not enough to make a dent in the multi-trillion dollar deficit or meet the billions in funding required for any new programs.
Yeah, and when the deficite goes down, the taxes wont.
TAX CHURCHES
*reading all the comments of those making min wage literally stanning for millionaires.
I am so tired of the gops faith-based economics.
It's extremely serious. Fork the ruling class when we're struggling with groceries it's past time to ask millionaire and billionaires to pay up. It's pay up or pitchforks. That's the historical model. This is let them eat cake territory.
Over $400,000 a year. What a coincidence that that is exactly the presidential income per year.
I mean I have an idea take congress pay and make them fix it
Be nice to be Congress and give yourself a raise for doing nothing for two hundred years
How much of that is foreign aid? We don't know. Cut that and we'll be fine
Hmmm. Over $400k a year only? Hmmm. What was the presidential salary again?
The fact that Biden thinks he’s winning is so funny
And the whole thing assume that if you tax the job makers they will continue to make jobs, not that the whole economy is subject to a drag the results in overall revenues. JFK got this right, to increase revenue you have to reduce tax rates.
Then they’ll tax people who make $10,000/year, and then they’ll spend another $5 trillion a year.
Why do we genuinely believe that taxing the rich will incentivize them to pay more money? Or grow their assets to have more money that you could tax? Or want to be in America where their asses are taxed to oblivion? Why would us normal people want to grow our wealth when we know we're about to get a tax hike if we make just a bit too much?
If I was a rich person and I heard about this, why would I not try to get as much stuff as possible out of America so I wouldn't get taxed? Or look for any possible loopholes to stop them from taxing me further?
While the obvious primary answer is that the govt. needs to spend far less than it currently is, alongside cutting or removing a lot of excess bureaucracy and programs that don't work/no longer/literally cannot be afforded, making the rich pay more (when I would bet a fair amount they already pay a lot as it is) isn't going to help. Incentivizing them to invest and build in America through lower tax rates, a reliable (and legal) workforce, and competitive wages that are fair for both the business and their workers will do a lot better job. That, plus consumers knowing how to actually foster competition through not being blindly/naively loyal to a single brand without good reason.
A better option might be to push for a static consumption tax. A flat rate on any goods purchased that doesn't change based on how much you owe but is based solely on purchasing quantity (both in how much in bulk at one time and in how often) would be better, though I don't know at what point it'd equal or better the current tax system.
The US annual budget is 6.3 trillion dollars, with 4 being "mandatory" and 1.7 being discretionary, with .5 tri in interests. BTW Military is around 800bi total
So you want me to believe that:
A - That there is 2 trillion dolllars of taxable money floating around.
B - If the government approves of it they will actually decrese the deficit.
C - That the next administration will pay off debt instead of just bumping the budget to 8 trillion and leaving at that?
Taxation is supposed to be the ultimate equalizer. If everyone were taxed equally we wouldn’t have wonky ass budgeting that curves around being wealthy.
The whole system needs to be changed, theres 0 reason people like me making 52k a year should be taxed 18% it’s ridiculous
So that rich people pay 0.005% of their income and poor people pay 90%? That’s the dumbest thing I’ve ever heard. It would never work, which is why we use a normal, proven to work taxation system.
Unless you mean equal percentage, which is also stupid, because poor people need to keep all their money in order to be able to afford to live, whereas when you make 3’000’000 a year you can survive on "only" 1.6 mil.
Bro my family was taxed 43% in Total. We don’t even make 150k
@@rich_man_mo7180 You don’t even make 150k? Poor baby! ;(
Well you say "investors", and don't understand that everyone in the country working a decent job or owning a business and is setting up for retirement is in that category... So you're leaving out that this means raising taxes for basically everyone that works any job period... But ok... I guess... Yeah if you raise taxes for everyone which is the most common thing to do you will reduce the deficit and also hide the fact that Democrats wasted all our government funds in the first place... Did that really need 128 pages to say we're raising taxes for everyone though??? And you highlight businesses, billionaires and anyone making decent money will now be taxed like four times on their income... Biden proposed the death of the American Dream of working hard and making a good future for yourself... Seriously do you know how many times that means you're going to be taxed now if you start making money... We're all slaves now basically
We don't need more taxes We need to just cut. Spokennoise and stop spending so much on our military. And in reality, we should force the military to pay for its veterans. They have that massive budget.Why is nothing utilized to take care of its own
The reason we ALL pay income Taxes is due to this idea that our politicians will Tax the rich. In the end they just tax everyone and put in loopholes to exempt themselves and their donors.
Lol i love this channel
Meanwhile people eating pork n beans out of a can in front of their trailers are voting for the billionaire that keeps asking them to donate money to him so he can pay for his criminal activity.
Tax the rich, that´s how it goes if you want to fix your damn mess.
Is this supposed to be funny?
Id love to see a flat tax with no bells and whistles. But Im also a realist to know all the billionaires would just move and take their businesses with them.
They were never true Americans then.
To be fair with loop holes they currently are using, their on paper income is 0 isn’t it?
TAX THE RICH! TAX THE RICH! TAX THE RICH! TAX THE RICH!
We are always one tax hike away from utopia.
We need to reduce the debt!
So you’re gonna stop spending so much right?
Don’t be silly, we’re just gonna take more of your money and spend MORE
Oh sweetie, you don't make over $400,000 a year. 😊
@@gabehasfurther4081 implying they won’t insist upon making everyone pay more anyway
@@tacocat4252 No, nobody is implying anything, we just know how to read.
God I'll never understand how Biden isn't the automatic choice of every American
He's old, absolutely but for the love of god HE'S ACTUALLY INTRODUCING WHAT Y'ALL WANT AND NEED
That's the thing. Magatards don't want it because they think Trump will make everyone into a millionaire.
What if we, stopped paying other countries bills for them? Radical I know.
You let the government tax more, they’ll just spend more and get the country more into the hole! There needs to be spending regulations, and you want cuts? Cut military aid to foreign countries. Pull out all of our foreign bases. Reinvest that funding to the struggling programs we have at home. It may sound cruel, but sometimes it’s like when the masks drop on an airplane - you need to be able to help yourself before you can help others.
We have a $1.8T budget deficit ANNUALLY. Congress has shown that they can always out-spend increased taxation. THE PROBLEM IS SPENDING.
Same reaction. Translation: kick rocks until you can deliver a true bipartisan solution.
Following up in case it wasn’t clear enough: get fuct
Not true at all. I read it it attacks small businesses owners
How? A small business owner does _not_ make a profit of 400k/year.
Hear me out, what about less speeding?
I mean geezus tax tf outta those that make a stupid amt between stocks and everything else. Like if youre making more than a mill you should be good to be taxed 100% after that so people can live. Its unethical to be rich while others not as lucky or evil suffer 🙄
The tax understanders have arrived in the comments, it seems.
Hey I wonder if there was something totally ridiculous baked into that proposal that the brief summary doesn't cover. There wouldn't be anything like that, would there?
likely not, there is never anything like that in a spending bill!
@michaelkaruza490
Oh hey, I wonder if this is a two party state so eventually SOME bipartisan agreements need to be made.
But no, keep shilling out for the GQP. By all means. All or nothing right? Let's see how your gamble plays out.
@@ApinofArc your idea of "bipartisan" is Democrats get everything they want and Republicans just roll over and take it. Imagine if the Republicans put out a "save puppies and kitties" bill but snuck inside was a clause that brings back slavery. I presume you'd get a little upset of they then ran around complaining that the Democrats don't want to be "bipartisan".
The fun part is that BOTH parties do shit like that all the time so they can go whine to the media about how the other side doesn't want to solve problems. Is it really too much to ask that lawmakers and journalists stay honest about the contents of legislation? Or is my indirect insult toward your sacred cow just a measure too far for you?
@ApinofArc ussually when the gop disagrees with bills like this, it because 10% covers what it says it covers. While the other 90% covers other bs like sensing money to gender studies in a 3rd world country, or increasing congressman budgets/salaries.
@@blackdolphin8643 and like that. Your argument lost all validity. Congrats.
Eliminate income tax, go to a sales tax system on luxury goods (not foods), divest from China (strong tariffs and bans) and switch industries either back toward US or other strategic partners. Sell federal land to reduce land prices and by consequence reduce prices on homes. Print less money and spend less by reducing executive branch. Close borders and empower states to assist in apprehension of illegal criminals,
Of course there’s more but I’m tired.
Slave runs to defense of his masters. Malcolm X once described people like you. You know, the one who works in the house and not the fields.
Now do explain why you want to destroy American economy.
You know the French Empire did the exact same thing until Napoleon turned up…
No, the french Empire did the exact opposite. They taxed the poor to sustain the rich.
Ya’ll seriously don’t know how economics work do ya?
Remember when they said that the new IRS budget was for the ultra rich, then refused the amendment that said that the money had to be allotted to pursue the rich instead of lower class people?
The top 1% earned 26.3% of total AGI and paid 45.8% of all federal income taxes. Taxing the rich even more only discourages them from investing, thereby hurting everyone.
Awwww how cute, you still think the ultra rich care about helping the country? Sorry to burst your bubble, but that's not how they got rich🥰
Thank you plus if I was rich and was told I have to pay like 10 percent more incomes tax inleav the country
@@monkeylordomega299 "If I were rich" first of all, you're not. If you're 25 and still under a million, give up on being a billionaire or richer now. Second of all, guess what would happen if you left? Someone else who's not used to low taxes would take your place, especially your corporation's.
Ofc the top 1% pays most of it. 90% of America makes less than 200k and only make up 33% of all the wealth in America. Thats how inequality works.
@monkeylordomega299 guess what would happen if you left the country? You'd pay MORE taxes since even with the tax hikes the US would still have one of the lowest taxes, that's how low we currently are
Wouldn't work anyways.
I bet if we just removed redundant programs and orgs for a few years, we'd have payed back a lot of the debt and nothing in our lives would've changed
Redundant programs and orgs such as…?? Convenient nonspecific “soundbite” solution, you should work for a GOP congressperson 🙄
start with the ATF. The laws they enforce are already enforceable by the FBI and their only other purpose is to process tax documents which we have a whole thing called the IRS for.
Tax hikes are pointless, unless the government starts reducing their spending.
Yeah sure it may be people who have the spare money but at the end of the day it's the governments debt, and they have to use other peoples money just to pay for their own mistakes.
You are free to move to a place where government doesn't pay for your roads.
So because of the decreased profits the cost of goods are going to go up again. Great. 👍
Gotta make record profits every quarter after all.
Actually pressure from Biden administration recently pushed back on grocery chains gouging profits and has them cutting prices back down by up to 30%. Do you not read/watch the news? I know battling Biden Derangement Syndrome is tough but we believe you can do it. There’s plenty of support for you 🤗
Inflation comes ONLY from not taxing the Wealthy.
Nope. The oposite actually.Not taxing them supports the growth of inflation.
You clearly have never studied economics.
@Joel86543 I have actually. And the underlying idea of inflation is there is an accumulation of capital that then chases after a limited amount of assets. The only class that accumulates capital is the wealthy
The poor just spend their money.
And the poor spending money actually grows small businesses that provide such serv8ces . Meaning money given to the lower classes literally only grows the economy and contributes not at all to inflation.
Whereas not taxing the Wealthy let's them accumulate monies they then use to acquire limited assets like real eatate, which is why re t prices have skyrocketed without their being a real increase in the growth of real estate.
@@gnomedeguerre2482 Firstly the main reason for inflation is the central banks printing money. Your assumption is correct that money and capital gets accumulated to the high class(this is true for every economic system) but from a realistic stand point your way of slowing down inflation is slowing down economic activity because this is what taxes do. About the second point I see it absurd. You are saying that middle class and the poor would spend their money in small businesses that I find a extremely absurd claim. I personally am very confident that if lower classes got free money in the form of financial aid(I'm assuming this is what you want to do with taxes) they would spend their money in Amazon,Netflix, Disney, Target etc and not in small local business. Plus what is the bases for your claim that money given the the lower classes does not contribute to inflacion. To me this looks like a logical fallacy since the money that would be given to lower classes would just be added to the supply of money making living nesseseties more expensive. And finally to address your not enough real estate claim I might have to ask why isn't there more real estate. Logically speaking if the demand increases the supply should as well. Isen't the government the one stopping more real estate from being constructed. This to me looks like government interference in the economy.
The govt spends our money wisely and efficiently. They just need a lot more and it's not like we need it or anything
Do you make over 400.000 a year?
@@TheLuuuuuc Well I have some IT friends that do. They're in Europe so they already pay up 42% and they're pretty happy about it (200k isn't small either)
@@dipanwitamandal7289 I was talking to the sarcastic guy who either isn't affected by the higher taxes or actually doesn't need the money
The ultra rich could certainly give some. Even if the government is bad at spending it, they're worse, instead spending it to influence the government in bad ways when they don't just hoard it.
Reduce all taxes to 2% and remove all government taxes on all income and only tax purchased products. No property taxes passed the innitial purchase.
Huh. Never figured yee for a communist.
Tax increases absolutely will hit everyone. Think of it like a 12 step ladder. If you cut the top 2 steps off the ladder then step 10 becomes the highest step. So on and so fourth. Top steps are the rich and the bottom step is the poor. Eventually, there is no ladder and they buy a new one with your money and start again.
Bootlicker stans for his masters
That's one way to say you have no clue how economy works.
@Nerazmus Economy drives taxes. Without taxes, the economy still works. Without economy, taxes don't work. So maybe it's you that has a misunderstanding?
@@chasingthefish9042 Oh, look it's Mr Trickle Down Economics, all the way from 1980 before everyone knew it was BS
@@TheHauntedKiwi when did I say that?
So a bunch of tax increases without a single cut to spending. Ya thats says your sirius
Serious. And cutting spending doesn't improve stuff, if you stop paying for construction, cool you bow have $20B more to spend on.... construction which costs $20B
@@TheKiroshinot all spending is going towards something useful