Should conservitards receive the benefits they've been railing against so vehemently?

Originally posted by: PJ Stroh

I'm largely fine with the progressive tax brackets we have now.    But the tax-bracket system doesnt apply to the overwhelming majority of income earned by wealthy people.     And thats the problem.   In the 1980's our country started embracing the idea that investors get preffered tax rates over workers....and we've doubled down on that with several tax changes since.    

 

Paychecks get subjected to the brackets.   Dividends, captial gains, interest, partnership distributions etc...do not.     As a result you have some trust fund brat who has never worked a day in his life (think Don Jr) who pays fewer cents on the dollar in Federal taxes than someone who gets up to an alarm clock and goes into an office (like me).    Personally I find that infuriating.

 

Why not just subject all income regardless of where it comes from to the brackets?  I like that idea.   

 

 

 

 


You know PJ, I started writing something really similar to this and then had to run out before I hit "reply".  I totally agree with this.  What really matters is someone's effective tax rate.  There are still too many nooks and crannies in the tax code.  I don't love 50% as a top bracket but I'd go there if that meant the totally rich really paid an effective rate of 37% (which is top bracket now) on all of their true income.

net tax revenue from ILLEGULS is $21 billion per year.

 

No such stat.

 

Here is a real stat.

 

New York City has likely surpassed $5 billion in spending on services for migrants — including nearly $2 billion alone on housing the scores of new arrivals flooding into the Big Apple, according to city data.

 

Mayor Eric Adams’ administration has even projected the cost could double, hitting $10 billion over the three year period ending June 30, 2025.

A minor correction. Partnership distributions are taxed as ordinary income on the partner's personal income tax return.

 

The partnership sends the partners a K-1which reports partnership distributions to the IRS. 

 

While partners can avoid payroll tax if they aren't involved in day to day activities running the partnership, they still have to pay income taxes on that income.

 

At least that is how it worked when I was part of a partnership via an LLC.

 

 

Edited on Aug 19, 2024 8:44am
Originally posted by: Mark

A minor correction. Partnership distributions are taxed as ordinary income on the partner's personal income tax return.

 

The partnership sends the partners a K-1which reports partnership distributions to the IRS. 

 

While partners can avoid payroll tax if they aren't involved in day to day activities running the partnership, they still have to pay income taxes on that income.

 

At least that is how it worked when I was part of a partnership via an LLC.

 

 


I have K1 investments too.   Most of your taxes are deferred until you sell.   If you never sell you never pay tax.

.    I earned over a $1000 in distributions from Energy Transfer Partners and paid no tax on it.

 

 


Originally posted by: tom

net tax revenue from ILLEGULS is $21 billion per year.

 

No such stat.

 

Here is a real stat.

 

New York City has likely surpassed $5 billion in spending on services for migrants — including nearly $2 billion alone on housing the scores of new arrivals flooding into the Big Apple, according to city data.

 

Mayor Eric Adams’ administration has even projected the cost could double, hitting $10 billion over the three year period ending June 30, 2025.


Tom's race hatred is on full display. He's so full of vitriol that he can't think rationally. A "REAL STAT" wouldn't contain the inflammatory and grossly inaccurate term "flooding."

 

Stupid racist bigoted Tom 

Originally posted by: Jerry Ice 33

You know PJ, I started writing something really similar to this and then had to run out before I hit "reply".  I totally agree with this.  What really matters is someone's effective tax rate.  There are still too many nooks and crannies in the tax code.  I don't love 50% as a top bracket but I'd go there if that meant the totally rich really paid an effective rate of 37% (which is top bracket now) on all of their true income.


You have to have bracketing to make the tax code fair. A certain basic level of income goes to just keeping oneself alive and shouldn't be taxed at all. I favor the taxing of actual income (gross income - personal maintenance) at graduated rates. There should also be cost of living adjustments in that bracketing. People living in Arkansas and California paying the same federal tax rates is absurd.

 

What Jerry complains about isn't quite as bad as he says. "The rich" have income that isn't taxed the same way (as heavily) as wage income because very often, that income has already been taxed once or twice. And exemptions from such taxation are created in order to provide a social good. After all, who would buy a municipal bond otherwise?

 

So my point is that even for them rich bitches, the tax system needs to be quite complex to be truly equitable.

One reason why Trump appeals to Tom is they both have the same tactic for dealing with facts they dont like.   They simply call them fake and pat themselves on the back.

 

Obviouosly, immigrants pay sales tax, tolls, auto/home tax, and income tax at the local levels.

 

But they also pay Federal income tax.    Most illegal immigrants use a fake Social Seurity number with their employer to get their job.    So they have the same Federal tax witholdings as citizens do....moreover this also means they pay into the entitlement programs (SS and Medicare) and yet are not eligible for any of those benefits.

 

How much is that in total?

 

This artcile breaks down the current amounts

 

  • Undocumented immigrants paid $96.7 billion in federal, state, and local taxes in 2022. Most of that amount, $59.4 billion, was paid to the federal government while the remaining $37.3 billion was paid to state and local governments.
  • Undocumented immigrants paid federal, state, and local taxes of $8,889 per person in 2022. In other words, for every 1 million undocumented immigrants who reside in the country, public services receive $8.9 billion in additional tax revenue.
  • More than a third of the tax dollars paid by undocumented immigrants go toward payroll taxes dedicated to funding programs that these workers are barred from accessing. Undocumented immigrants paid $25.7 billion in Social Security taxes, $6.4 billion in Medicare taxes, and $1.8 billion in unemployment insurance taxes in 2022.
  • At the state and local levels, slightly less than half (46 percent, or $15.1 billion) of the tax payments made by undocumented immigrants are through sales and excise taxes levied on their purchases. Most other payments are made through property taxes, such as those levied on homeowners and renters (31 percent, or $10.4 billion), or through personal and business income taxes (21 percent, or $7.0 billion).

 

Thanks, PJ, for the detailed info. I wasn't going to bother to show Tom exactly how and where he's a fucking idiot on this topic, as he is with so much else.

 

The conservitard narrative of filthy immigrants as bloodsucking parasites isn't exactly new--it was old when the Fuck the Chinese Act (I forget its precise actual name) was passed in 1889. THAR TAKIN ARE JOBZ was the chosen battle cry of thugs two centuries ago.

 

Of course, that kind of idiotically simplistic thinking assumes that the economy is a zero-sum game. It's anything but. Your gain is not derived from my loss. The pie gets bigger, and everybody gets larger slices 

 

Immigrants, FEELTHY ILLEGULS included, are and always have been strongly beneficial to our economy. Imagine what would happen if Tom's orange master got his way and slammed the border closed. The Great Depression would seem like a Sunday picnic.

PJ posts a study done by a liberal think tank that is pro illegal immigration.  It takes some data from studies & comes up their their own estimates (our own estimates is a phrase they use a lot).

 

Basically it is a load of crap.

 

I will go with the data supplied by the NYC govt that says these people are costing a fortune.  12m came thru the border plus there are 2m gotaways.  They all didn't get jobs, which is why they are living in tents & hotels in NYC & collecting benefits.

ANother reason why Tom likes Trump.   They both play the liberal-media-boogey man card when they get presented with facts they dont like.    The only card Tom has left is "Deep State".  Stay tuned. 

 

Tom doesnt want to recognize the 8 million undocumented people working in this country who pay taxes.   Recognizing them seriously undermines his point about the ones living in NYC without jobs.    So  we get "fake stat"  and "liberal Media".....and thats why, Tom, you've built a reputation for being a clown on this board.    You're simply somebody that ignores facts and makes up your own.

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