I think this take is mid.
A doctor pulling in $400k a year is still working class. Even if they somehow managed to save 100% of their income, and invest it all in a portfolio that consistently grows 10% each year, and do so from age 18 to 65, then when they retire at 65 they would still not have even half of 1 billion dollars.
The truly rich, the billionaires, can “make” that much in a few days, without having to work for it.
I would prefer to tax the 1% until they’re working class again before we talk about taxing the top earning people who actually work for it.
While that is an interesting take, it is possible to do both!
They never said it wasn’t, just that we should start with the 1% and only once they are back down to a realistic wealth level do we start taxing people who are working class. At a decent pay rate (100k/yr) a million is achievable over a career, a billion is not and can only be had through consolidation of wealth.
And you’re still getting paid more. Not like it all gets taken away like those people that spread the rumor that says you lose more money than you made in a raise to taxes. (Yeah, exceptions apply)
People are conditioned to be outraged. GOP ads here are largely about transgender people in sports. I got plenty of problems and that ain’t one of em. I’ll bet most people those ads are targeting would admit the same. Illegal immigration is another one. Not a big concern for most people in Ohio, yet it’s a big part of the Republican’s campaign ads. The Haitian legal immigrant fear mongering recently was very unusual for here.
I voted to have my taxes go up to pay for a new elementary school. They replaced a flat occupation tax with an increase in the income tax which would be about an extra $400 a year for me. But it’ll come right out of my paycheck instead of being a separate bill I have to remember to pay.
Of course, all the idiots who live near me will probably vote against it and we won’t get the school because “TAX BAD.”
Remember that one time when the state of Kansas enacted huge tax cuts that produced no meaningful economic growth and nearly bankrupted the state?
Six years later, even the GOP realized they had fucked up and the legislature rolled back most of the prior cuts. And yet there are still lots of people who are too stupid to understand that investments in public infrastructure and public welfare pay off way more than any tax cuts.
who are too stupid to understand
Stupidity, or wilful ignorance based on an ideology which they prefer to reality?
Some people just hate the idea of their money supporting people who have less than them, because they are right wing. And the definition of right wing is “Right-wing politics is the range of political ideologies that view certain social orders and hierarchies as inevitable, natural, normal, or desirable…” They, quite honestly, want the outgroups to live in filth. And they would trade some of their own potential prosperity for that.Humans, as a whole, will knowingly trade a future world for their children for the convenience of driving down the road, after all.
My city has a referendum to replace the middle school and add a wing to the elementary school. Oh and add fire suppression systems to both of them since they are so old they don’t have them.
It’ll cost me $700/year for like 25 years.
I’m voting yes. Let’s invest in our schools and education system. Let’s understand how incredibly useful the power of local taxes are.
And then be mad when the town dies because everyone leaves and no one new moves in. #1 thing on our list when looking where to move? School quality…well that and lack of Dollar Generals
I didn’t realize how prevalent Dollar generals were until I took a road trip through West Virginia. It’s like the only successful franchise in that entire state.
I don’t even have children and always vote for the school taxes. Only an idiot would shoot themselves in the foot by neglecting the people who will care for them in their end days.
Yeah, I really don’t get it. People always say “children are the future”, so why the fuck don’t we act like it? Get them kids some nice ass schools, some nice ass books, and some nice ass teachers with top-tier salaries. I will probably never have kids, but I still want the next generations to be better than skibidi fucking rizz.
And we’re talking about progressive tax brackets here. ONLY the money over $400k will be taxed higher. As in if you make $405k per year, only the $5k will be taxed higher.
They will never understand that. I knew a guy who refused a raise because it would put him in the next tax bracket. I didn’t even try to explain it.
My mom got fired from her job after 30 years of service (because the factory closed). She received a severance pay, paid out over 6 months, and told me she wouldn’t be looking for a new job during that time because she’d have to pay double the taxes. I was like yeah but… you’d also be earning double the money?? I would understand that she wanted to take a break for a couple of months but if taxes were the reason, that just doesn’t make sense.
When I was in my early 20s there were a few personal finance things like this I didn’t understand. Here are a couple examples:
- I refused a credit card limit increase because I thought that it was a trap to get me to spend more. I didn’t understand FICO scores are partly determined by “amount of credit” and “credit utilized”. I likely cause myself to later spend more money on higher interest rates when I got a loan because my credit score could have been better.
- I was mildly upset I got $1000 as a bonus instead of a pay income because I thought that bonuses were “taxed at a higher rate” when instead they are simply “withheld at a higher rate” and it all washes out in the end when you pay your taxes at the end of the year.
But I grew up and learned these things in my 20s and didn’t carry those mistakes into later adulthood.
But I grew up and learned these things
How dare you learn and grow as a person over time through experiences. /s
Real talk though, good for you. “I was wrong” is never said by way too many people these days. Admitting to having been wrong is the first step to learning what’s right.
I don’t understand why people have such an aversion to saying they were wrong on something. There’s no complete instruction book on life we’re given when we’re born. There’s no perfect recall of everything we’ve every been taught, and certainly no perfect knowledge of what we were taught growing up.
We keep learning new things until the day we die. That means for a big portion of our lives we’re ignorant or incorrect on any number of topics. I see it as a sign of confidence, not weakness, to say “I was wrong”. It means I’m not so shallow that my identity is threatened if new information comes to light.
Because they’re used to writing people off or allowing them to become collateral damage for a single mistake.
I was mildly upset I got $1000 as a bonus instead of a pay income because I thought that bonuses were “taxed at a higher rate” when instead they are simply “withheld at a higher rate” and it all washes out in the end when you pay your taxes at the end of the year.
I do wish I had a way to opt out of any withholding for bonus pay, I’d rather have the money now and risk having to pay a bit when I file taxes vs not having the money and getting a refund a year later when it’s worth less.
I do wish I had a way to opt out of any withholding for bonus pay, I’d rather have the money now and risk having to pay a bit when I file taxes vs not having the money and getting a refund a year later when it’s worth less.
My guess is the rule for greater withholding went in because of this idea. The majority of people would prefer to risk it, and the majority of people end up short at tax time.
Exactly, the original headline is already in bad faith.
these are the people who think progressive tax brackets means they make you pay extra if you’re white and straight
That’s communism! … says guy who calls every political thing he sees communism
More like…
“That’s Fascist Communism!”
But yeah, same level of ignorance.
I dunno. I kinda like that guy more than the college kid that just read up on Marxism and now holds it as the solution to everything.
I’d love to invite them both to the same party.
Why do you have to like either of them? They both sound like idiots.
I kinda like that guy more than the college kid that just read up on Marxism
You hate people learning about other perspectives? That’s pretty unpleasant. So is your recent post history.
I like to pay taxes. With them, I buy civilization. - Oliver Wendell Holmes Jr.
It’s also fun to tell someone that you paid more in taxes than they made in a year.
You can’t ignore the number of people who seem to hate civilisation, because it includes other people.
Why can’t I find the meme? I think it’s woman yelling at cat that says something like, maybe we should raise taxes by 1% on people who make over $40,000,000 a year. And then the woman yelling is captioned, people who make 50k a year.
