Harris Plan Would Bring Tax Increases for Richest 1% and Cuts for the Bottom 99%
Harris Plan Would Bring Tax Increases for Richest 1% and Cuts for the Bottom 99% | Common Dreams
But that's not what the sign on the side of the road says...skeptical.
But then what will trickle down???
Unfortunately, the urine based system where richer people pee wealth on less rich people who then pee on poorer people and so on isn't sound economic theory. Call me surprised, and soaked in freedom pee.
The data is in. Trickle down doesn’t work.
(I was being facetious)
Poor people: “Unacceptable!”
But one day I might be in the 1%! And when I am, I'll show people like ME a thing or two.
Problem is a solid 30% of those that vote see themselves potentially attaining that 99% 1%, as baffling as that is.
Edit
You mean 1%?
I do, yikes, thank you
Strangely enough, most people will be in the top 5% at some point in their life. But just for a year, when they sell their house. So you're getting fucked 75 years of your life for maybe 1 year of benefit?
More like you busted your ass for 75 years then got fucked when you had to sell your house.
I am not from the US so might be wrong, but I think it works the same as in mine. It is because they tax income not wealth (which would be difficult I guess). Elon can probably live on $0 income very comfortably by his standard. More than 1% of income earners will be affected at some point as you age up, inheritance etc. Maybe not 30%
Well hell, sign me up!
Annnnnd there it is. I recall saying she's yet to play the Tax Card, another over-reaching promise a lot of politicians make but we've yet to see happen.
Come on Harris....
This isn’t Harris “play[ing] the tax card”, the article isn’t even referencing anything her campaign said.
FTA:
The new analysis from the Institute on Taxation and Economic Policy (ITEP) follows its in-depth examination of Trump's tax proposals, which the group found would cut taxes for the richest 5% of Americans and raise them for everyone else.
And directly from ITEP’s “Mission & History” page:
ITEP is a non-profit, non-partisan tax policy organization. We conduct rigorous analyses of tax and economic proposals and provide data-driven recommendations to shape equitable and sustainable tax systems.
Source: https://itep.org/about/
Based on the “equitable and sustainable” piece, ITEP probably slants left, sure, but I’d say that’s far more owing to conservative tax policy having no basis in being equitable or sustainable for the past four decades at least.
That all being said there’s literally no reason to make this a dig at Harris, because, you know, the article isn’t referencing anything she or her campaign has publicly said…
"On tax policy, Harris carries forward much of President Biden’s FY 2025 budget, including higher taxes aimed at businesses and high earners"
I don't understand people who make the claim that "uh, they didn't directly say or plan it" when that line I just picked from the article, implies that it is a plan of theirs.
I don't care what you or anyone has to say. You either make the plan happen or shut the hell up and stop promising things you can't deliver on.
Woah now, it's SO much easier to make a dig at anything when you refuse to challenge your own, and your friend/family's, personal views.
There's a lot deleted here so I may have missed it but I'm just curious, what would you prefer her to say? Like you are totally right that politicians famously make promises they don't keep but would you prefer her to just say nothing? Or to say the opposite? The other guy has a plan that will increase taxes/costs on everyone but the top 5%. Is that better? Should he also not say anything?
"Hey, I'm in the bottom 99%, I like this promise"
You know who else is in the bottom 99%, your fucking landlord. if you pay 1% less tax you can buy a whole bag of doritos if they pay 1% less tax they can buy your Mum's house.
Government only needs to pay lawyers to go after what the 1% already owe and it would be more than any increase would provide.
You're being a bit obtuse and misleading here, clearly you didn't read the article.
For starters... its not an income level agnostic tax decrease. Its not a flat tax.
Its graduated. Progressive. And it decreases taxes for all but the wealthiest, whose taxes increase.
The group estimated that under Harris' proposals, the poorest 20% of Americans would see an average tax cut of $1,130 in 2026 while the richest 1% would see an average increase of $121,460.
Sad as it is, our political system offers a binary choice.
Would you perhaps prefer the alternative?
EDIT:
If Harris wins, we can also reasonably expect a continuation of the Biden policy of doing that other thing you want, the IRS actually going after people in the 'landlord' brackets for tax evasion.
Has that been as extensive as you or I would prefer?
No.
But the alternative is Trump, who, along with Elon, might just abolish the IRS, or massively defund those efforts.
It's hard to tax income if there's no reported income
Unrealized gains tax. Lets fucking go.
Rewrite the laws that if it's collateral, it's realized.
I just get loans on untaxed offshore collateral and write it off as a business expense like everyone else, don't you?