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Drudge Retort: The Other Side of the News
Saturday, September 18, 2021

The latest proposed tax changes from the House Ways and Means Committee essentially say a wealthy individual is someone who earns $400,000 a year or a couple with $450,000 in annual income.

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Have them refund their Donnie Fail bailout.

#1 | Posted by LegallyYourDead at 2021-09-18 09:06 PM | Reply

If tou are sp worried about the rich paying taxes, what are you going to do about www.foxbusiness.com

Those are some interesting facts that seem to be backed up by solid paper trails. If the rich need to be governed to do what is right and pay their fair share, what are Liberals going to do about their own party breaking the rules and also not paying their share? When will Dems start holding their own people responsible? Until then, there is no reality in which you can whine and cry like babies about other people doing it.

#2 | Posted by humtake at 2021-09-18 11:47 PM | Reply | Funny: 2

Without doing any additional research, "Financial psychologist" sounds like a very made-up title. Perhaps a behavioral economist without any work in econometrics or using R?

#3 | Posted by GOnoles92 at 2021-09-19 02:05 AM | Reply

The bio of the "financial psychologist," is a psychologist with a CFP certificate whose write up sounds a bit like Joel Osteen mixed with Gary Vee. Guy has a great publicist to get him into a ton of media outlets (mentioned in link below)

his application of psychological interventions to help people with money and wealth issues and his innovative practice in financial psychology for practitioners across the country.

www.bradklontz.com

#4 | Posted by GOnoles92 at 2021-09-19 02:14 AM | Reply

We pulled ourselves out of the Great Republican Depression of 1929 by taxing the rich. We fought the war during WWII by taxing the rich after the war and paid off the debt in a few years. When you need to raise revenue look to where the money is. We are taxing them on income they don't really even need to maintain their lifestyle but on the contrary tax the lower or middle classes you will affect their spending and harm your economy. Our economy depends on the spending of the middle and lower classes, the rich peoples' spending only matters to a few industries which cater to them. Without those industries our American economy could go forward without even a hickup. And I say this as a person who earned my living in their world for decades but I never pretended that my job really benefited the overall economy though it was recession proof. The rich continue to spend regardless of the overall economy so jobs that cater to them are imune from economic downturns. Many places in America such jobs are just not available but here in S. Florida they are abundent. I never missed a single day of work during the recession of 2007-08 and my son also joined our industry and has prospered amazingly since.

#5 | Posted by danni at 2021-09-19 08:37 AM | Reply

There is a reason the demorats never tell you how much is the wealthy's fair share. Seems the top 1% pays 40% of their income in taxes according to the latest numbers that are published by the IRS which are for 2018. So how much more do you think they should pay? When does it not become "worth it" to generate big incomes?

Also China Joe want to raise business taxes, another dumb move. When a business' costs go up they increase their prices, it is really that simple. Raise their taxes and they will ultimately raise their prices, so everybody pays more, and the business passes along the costs to the ultimate consumer. It is really basic economics, tax hikes are bad for the country, bad for the businesses, bad for the consumer, disastrous for the poor. But demorats keep beating the drum, what idiots.

#6 | Posted by gtjr at 2021-09-19 08:40 AM | Reply | Funny: 1

"When will Dems start holding their own people responsible? Until then, there is no reality in which you can whine and cry like babies about other people doing it."

FYI dumbass, I paid more taxes than Jeff Bezos last year and have every year for the last 50 years. The pathetic lie that us working folks don't pay taxes is just b.s. You repeat talking points fed to you by right wing liars and think they are facts. You really are sort of pathetic Humtake.

#7 | Posted by danni at 2021-09-19 08:40 AM | Reply

"Also China Joe want to raise business taxes, another dumb move. When a business' costs go up they increase their prices, it is really that simple."

Utter nonsense. Businesses raise their prices compared to their competitors and higher taxes don't necessarily cost them anything. Investing the money in equipment, higher salaries, etc. can and does usually offset tax increases. For the most part increases in business taxes actually force owners to invest in their own businesses. We built the American economy and our middle class by increasing, significantly, the taxes on businesses and great wealth. Your philosophy was disproven by FDR who created the greatest economy the world has ever known and he did it wigh 90% marginal tax rates.

#8 | Posted by danni at 2021-09-19 08:47 AM | Reply

"When does it not become "worth it" to generate big incomes?"

Was it not worth it to generate big incomes when the top rate was 70%?

If you could gross $100M, would you not do it if you only netted $30M? You'd rather net whatever you make now?

#9 | Posted by snoofy at 2021-09-19 10:08 AM | Reply

"Seems the top 1% pays 40% of their income in taxes..."

Seems you're getting info from sources who believe you don't deserve the truth, and are too stupid to know they're lying to you.

Either you, or they, or both, are conflating effective rate with marginal rate. They're NOT the same; your statement is blatantly false.

#10 | Posted by Danforth at 2021-09-19 11:37 AM | Reply

"tax hikes are bad for the country"

But $2.3 Trillion tax giveaways while running deficit budgets are good?!?

#11 | Posted by Danforth at 2021-09-19 11:38 AM | Reply

"When does it not become "worth it" to generate big incomes?"

Based on my ~35 years in the tax profession...never.

The next client I meet who decided to work less because taxes will be my first.

#12 | Posted by Danforth at 2021-09-19 11:44 AM | Reply | Newsworthy 1

The wealthy in this country don't give a crap about my tax rate and make 'political contributions' to shift as much of their tax burden to those who make far less than they do. When I pay more income tax than Amazon, something is way wrong. If the wealthy don't like what they gotta pay, they are free to work at Wal Mart and pay less. Fuggem.

#13 | Posted by HeeHaw at 2021-09-19 08:16 PM | Reply

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