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Honored Social Butterfly

Republicans only cut taxes forthe top 10%

About 40 years ago, the GOPerLords had an epiphany. They realized that for generations their forefathers had created an image of Republicans as always wanting to cut taxes FOR EVERYONE.

 

The Common People (bottom 90%) accepted this image as true, because they never bothered to "do the math" to see if it was true, which it was not.

 

Back in the 1920's, they had cut taxes for themselves from 65% down to 25% and the Common folk believed THEIR taxes had been cut as well, but in fact their deductions had been held constant, so their taxable income AND THEIR TAXES PAID actually INCREASED.

 

That tax cut, plus the GOPerLords deregulation of the Stock Market created a wild ride for anyone who could invest "on the margin". Since buying on the margin meant paying only a dime for a dollar's worth of stock, and not having to pony up the remaining 90 cents SO LONG AS THE STOCK WENT UP everybody put their money in the market.

 

The GOPerLords did NOT use the margin because they didn't need to, and all that cash that had previously gone into family savings drove the market to incredible heights and then the GOPerLords SOLD THEIR STOCK and reaped HUGE profits, but all that selling caused the prices to stop rising, and all those "margin accounts" held by the bottom 90 had to be made good, and nobody had saved so there was no way to come up with the missing 90 cents EXCEPT by selling other stocks that were still rising, which caused them to stop rising which caused a margine call on them, causeing desparate 90%ers to withdraw everything they had in the banks whose officers had been buying on margin with the Other People's money in those savings accounts so they could not pay the depositors which meant nobody in the 90% had money to buy anything and the entire economy crashed.

 

Democrats took control of the Government, raised the TMR to 91% and used the money to create jobs so people would have money to buy things which caused production to re-start and the economy to climb back out of the hole the GOPerLords had buried it in.

 

Then in 1936, when almost all the losses had been regained, GOPerLords had their Congresscritters cut taxes ON THE RICH again, which took money from the workers who had been on Government jobs rebuilding what the GOPers had destroyed so they had no money to buy stuff with and the GOPerLords who got the money didn't spend it because they already ahd all the stuff they needed, and the economy crashed AGAIN.

 

The GOPer's disasterous economic policies were finally overcome when WWII caused the biggest Government Jobs Program in history, putting 14 MILLION men and women in Uniformed Government jobs and 4 million more in Government war production facilities and everybody else working to support the 18 million totally devoted to fighting the War.

 

GOPerLords repeated the tax cutting of the 1920's with Reagan's taxscam which INCREASED actual taxes paid by the 90% by 40% while slashing taxes paid by the top 10 by 60%. Thjen they used the mortgage market to do the same thing they'd done with margine trading to milk all the savings from the 90% and when someone noticed housingprices, just like stock prices, would NOT ALWAYS GO UP, they crashed the economy AGAIN.

 

Only way to fix this is to NEVER allow GOPers to occupy elected office at any level. In Congress, they redistribute all the money and wealth from the bottom 90 to the top 10. At the State and local level they prevent the 90% from voting and stopping the redistribution the Congressional GOPers are facilitating.

 

READ THE HISTORY

DO THE MATH

REMOVE THE GOPers.

Social Butterfly

Thanks, Older.  Your Post was very informative.

Honored Social Butterfly

@Olderscout66 

Yes, I agree with mimi, very good article accounting for the repub "robber barons"

to once again to pull a reverse Robin Hood!...steal from lower and middle income to give to the rich. Or our social welfare program for the wealthy. 
@aruzinsky 

What? The post was about manipulation of federal taxes, not the Illinois use tax!

And please remember, trump repubs passed the trump tax cuts. 

 

Regular Social Butterfly

Trump doubled the standard deduction which benefited the poor.

 

Meanwhile, Democrat controlled Illinois requires people with 0 income, who don't keep receipts for online purchases, to pay $3 a "use tax" on the IL1040, which often is double taxation.

 

UseTax.png

The Democrats absolutely, positively, must get their pound of flesh from poor people.

 

You are getting sleepy.
Honored Social Butterfly


@aruzinsky wrote:

Trump doubled the standard deduction which benefited the poor.

 

While eliminating exemptions for oneself, spouse and ALL the children and dependents of the taxpaying parents minimizing any tax cut rendered by the new standard deduction.

 

And with the elimination of other deductions and adding caps to others, Trump actually raised taxes on many middle class Americans!

DUMP TRUMP AND DITCH MITCH TO MAKE AMERICA GREAT AGAIN!!!
Honored Social Butterfly

Like all good GOPerBots, tRumpettes swear lil donny gave poor people a tax cut, but it's another LIE.

 

Single parent earning less than $19,000 with one child would gain a deduction of $1,800, a cut of $180 in taxes paid, BUT if there were TWO children, the deduction would DECREASE by $2250 and tax burden would INCREASE by $225.

 

However, just looking at AGI, the average family with income of $1,000,000 has received a cut of $44,824.45, or 12% of their pre-tRump tax.

 

80% of the benefit (actual reduced taxes paid) are going to the top 10%

Honored Social Butterfly

Well one thing for sure.... President Trump moved more people out of poverty, off public assistance, and into the work force.

4 more years of prosperity and lower taxes for all

Libs are nuttier than squirrel poop
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Honored Social Butterfly


@Fishslayer777 wrote:
Well one thing for sure.... President Trump moved more people out of poverty, off public assistance, and into the work force.

4 more years of prosperity and lower taxes for all

TWO lies for the ink of one:

1.ToadPOTUS moved people out of ASSISTANCE programs by slashing the safety net - real wages have stagnated for the past 3 years - check the CPI-W for the Truth on how WAGE income is "growing". Also, for 3 years FEWER people have had health insurance and MORE GOPer deadbeats are getting their care courtesy everybody else's premium increases.

 

2. The Toad has been sliding along on the 75 months of constant growth handed him from the Obama Recovery. All your orange twit has done is bankrupt small farmers and small business with his infantile trade wars - all that changed was china will be buying much LESS from our farmers and the NAFTA-lite he is so proud of does nothing but INCREASE the amount of autoparts we import from Mexico.

 

Try actually researching the twaddle your GOPerLords spew before presenting it as even remotely factual. Thanks.

Honored Social Butterfly


@Olderscout66 wrote:

@Fishslayer777 wrote:
Well one thing for sure.... President Trump moved more people out of poverty, off public assistance, and into the work force.

4 more years of prosperity and lower taxes for all

TWO lies for the ink of one:

1.ToadPOTUS moved people out of ASSISTANCE programs by slashing the safety net - real wages have stagnated for the past 3 years - check the CPI-W for the Truth on how WAGE income is "growing". Also, for 3 years FEWER people have had health insurance and MORE GOPer deadbeats are getting their care courtesy everybody else's premium increases.

 

2. The Toad has been sliding along on the 75 months of constant growth handed him from the Obama Recovery. All your orange twit has done is bankrupt small farmers and small business with his infantile trade wars - all that changed was china will be buying much LESS from our farmers and the NAFTA-lite he is so proud of does nothing but INCREASE the amount of autoparts we import from Mexico.

 

Try actually researching the twaddle your GOPerLords spew before presenting it as even remotely factual. Thanks.


Olderscout, all they listen to is lies, by Fox and other Extreme Right sources.


Man learns from history that man learns nothing from history.
Honored Social Butterfly


@Fishslayer777 wrote:
Well one thing for sure.... President Trump moved more people out of poverty, off public assistance, and into the work force.

4 more years of prosperity and lower taxes for all

Fallacy: a deceptive, misleading, or false notion, belief, etc,; misconception


Man learns from history that man learns nothing from history.
Regular Social Butterfly


@ChasKy53 wrote:

@Fishslayer777 wrote:
Well one thing for sure.... President Trump moved more people out of poverty, off public assistance, and into the work force.

4 more years of prosperity and lower taxes for all

Fallacy: a deceptive, misleading, or false notion, belief, etc,; misconception


Case in point. It is the Democrats' job to convince happy people that they are unhappy.

 

You are getting sleepy.
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Honored Social Butterfly


@aruzinsky wrote:

@ChasKy53 wrote:

@Fishslayer777 wrote:
Well one thing for sure.... President Trump moved more people out of poverty, off public assistance, and into the work force.

4 more years of prosperity and lower taxes for all

Fallacy: a deceptive, misleading, or false notion, belief, etc,; misconception


Case in point. It is the Democrats' job to convince happy people that they are unhappy.

 


Fallacy: a deceptive, misleading, or false notion, belief, etc,; misconception


Man learns from history that man learns nothing from history.
Honored Social Butterfly


@aruzinsky wrote:

@ChasKy53 wrote:

@Fishslayer777 wrote:
Well one thing for sure.... President Trump moved more people out of poverty, off public assistance, and into the work force.

4 more years of prosperity and lower taxes for all

Fallacy: a deceptive, misleading, or false notion, belief, etc,; misconception


Case in point. It is the Democrats' job to convince happy people that they are unhappy.

 


By definition, Democrats (the party of hate) are angry unhappy people that desire to make other people angry and unhappy.

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Honored Social Butterfly

Not posted..

By definition, Democrats (the party of hate) are angry unhappy people that desire to make other people angry and unhappy.

----------------------------------------------

This thread is a good example of their hate and lies. The trump tax cuts were for all taxpayers,

Americans paid almost $64 billion less in federal income taxes during the first year under the Republican tax overhaul signed into law in late 2017 by President Donald Trump, with some of the sharpest drops clustered among taxpayers earning between $25,000 and $100,000 a year, even as the overall number of refunds dropped during a turbulent tax season.
Honored Social Butterfly


@KidBoy2 wrote:
Not posted..

By definition, Democrats (the party of hate) are angry unhappy people that desire to make other people angry and unhappy.

----------------------------------------------

This thread is a good example of their hate and lies. The trump tax cuts were for all taxpayers,

Americans paid almost $64 billion less in federal income taxes during the first year under the Republican tax overhaul signed into law in late 2017 by President Donald Trump, with some of the sharpest drops clustered among taxpayers earning between $25,000 and $100,000 a year, even as the overall number of refunds dropped during a turbulent tax season.

GOPerLords rely on the inability of their Bots to do simple math.

1. The amounts that Toad's cut offered to the average (income around $65,000) are miniscule compared to what the top 10% (+$560,000) received. The number of refunds dropped because so many middle class families GOT NO REFUND because they lost the individual exemption.

 

2. If you check the data on taxes paid, the average AGI for the bottom 90% in 2018 was $54,116 and they would've gotten an average tax cut of $2,196.00 while the top 10% had AGI of $438,158 and would've gotten a cut of $48,824.00 which is over 22 TIMES the cut for the bottom 90% meaning the top 10% received over TWICE as big a cut as the bottom 90% IN TOTAL. Please note that the top 10% "only" earn about 8 times as much as the average American, but received 22 times as large a cut.

 

As I was saying, REPUBLICANS ONLY CUT TAXES FOR THE TOP 10%! Always have, always will, which is why they cannot occupy positions that allow THEM to dictate our tax policy.

 

TOAD MUST GO! along with his enablers.

Honored Social Butterfly

@KidBoy2 

So you are saying that we spent over a trillion dollars to save 64 billion for taxpayers? That would be considered a very bad business strategy!

And how can you assume that I am hateful? Is opposing someone like trump 

an act of being hateful? Opposition does not mean it's hate. 

Honored Social Butterfly


@williamb39198 wrote:

@KidBoy2 

So you are saying that we spent over a trillion dollars to save 64 billion for taxpayers? That would be considered a very bad business strategy!

And how can you assume that I am hateful? Is opposing someone like trump 

an act of being hateful? Opposition does not mean it's hate. 


I don't think that was exactly the case.  We saved 64 billion dollars for taxpayers by giving them income tax cuts.  The 64 billion saved has nothing to do with the 1 trillion spent. Over the long haul, income tax cuts and corporate tax cuts will bring more money to the treasury.  How?  The employment figures went up, expansion of businesses took place, more people dropped off welfare/food stamps and those now employed pay INCOME taxes to the treasury.

 

The party of hate doesn't like Trump, doesn't like his supporters, doesn't like progress, despises wealth.  Just get used to the fact that your parties hate just has to last four more years.

Honored Social Butterfly

NOTHAPPENING posted..


don't think that was exactly the case. We saved 64 billion dollars for taxpayers by giving them income tax cuts. The 64 billion saved has nothing to do with the 1 trillion spent. Over the long haul, income tax cuts and corporate tax cuts will bring more money to the treasury. How? The employment figures went up, expansion of businesses took place, more people dropped off welfare/food stamps and those now employed pay INCOME taxes to the treasury.

================================================

Some hate anything Trump does, even when it helps they....its very telling of them!
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Honored Social Butterfly


@KidBoy2 wrote:
Not posted..

By definition, Democrats (the party of hate) are angry unhappy people that desire to make other people angry and unhappy.

----------------------------------------------

This thread is a good example of their hate and lies.
Wrong KidBoy2.
The Republican Party controlled by Trump ....... a racist, bigoted,  misogynist hate monger who employs White Supremacists as senior advisers and spewed over 15,000 lies since his unconstitutional election ...... "that is a good example of hate and lies!


The trump tax cuts were for all taxpayers,
And wrong AGAIN KidBoy2.
30 % of American middle class tax payers actually received a TAX HIKE under Trump's so called "tax cuts"!
DUMP TRUMP AND DITCH MITCH TO MAKE AMERICA GREAT AGAIN!!!
Honored Social Butterfly


@KidBoy2 wrote:
Not posted..

By definition, Democrats (the party of hate) are angry unhappy people that desire to make other people angry and unhappy.

----------------------------------------------

This thread is a good example of their hate and lies. The trump tax cuts were for all taxpayers,

Americans paid almost $64 billion less in federal income taxes during the first year under the Republican tax overhaul signed into law in late 2017 by President Donald Trump, with some of the sharpest drops clustered among taxpayers earning between $25,000 and $100,000 a year, even as the overall number of refunds dropped during a turbulent tax season.

I earned within the range of $25,000 to $100,000 and I save nothing on my taxes because of the write-offs I lost.  

 

You forget to mention that the 90% of the tax savings went to the wealthiest and to Corporations.

 

You also forgot to mention that those cuts have a cost of over  $$1 1/2 Trillion$$.


Man learns from history that man learns nothing from history.
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