Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Brown Cafe UPS Forum
UPS Union Issues
Labor For Bernie Sanders
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="HBGPreloader" data-source="post: 1856368" data-attributes="member: 19782"><p>Supply-side or trickle-down economics - you mean like hundreds of billions on bailouts and stimulus?</p><p>We know just how well they worked out.</p><p>The fact is the top 20% of Americans pay more than 50% of all income federal taxes. When you look at all federal revenue, this 20% pays closer to 70%.</p><p>Beyond that, according to Pew Research, all Taxpayers benefit from the more than $1.3 trillion worth of tax breaks that are allowed under the U.S. tax code.</p><p>The largest tax break of $150.6 billion, which benefits the middle class the most, is the tax exemption of employer-paid health care, health insurance and long-term care insurance.</p><p>Other tax breaks and/or exemptions include...</p><p>Lower tax rates on dividends and long-term capital gains - $120.3 billion,</p><p>Mortgage interest deduction for owner-occupied residences - $74.8 billion,</p><p>Earned-income tax credit $70.4 billion,</p><p>Contributions to and earnings of a defined-contribution retirement plans - $62.3 billion,</p><p>Deductibility of (non-business) state and local income, sales and personal property taxes - $59.2 billion,</p><p>Credit for children under age 17 - 57.3 billion,</p><p>Contributions to and earnings of defined--benefit pension plans - $41.3 billion,</p><p>Untaxed Social Security and railroad retirement benefits - $39.3 billion.</p><p>These are all, currently, untaxed income that everyone should - in theory - be paying.</p><p>Meanwhile, ALL federal corporate tax breaks in 2013 (the most recent year I can easily find) totaled $176 billion.</p></blockquote><p></p>
[QUOTE="HBGPreloader, post: 1856368, member: 19782"] Supply-side or trickle-down economics - you mean like hundreds of billions on bailouts and stimulus? We know just how well they worked out. The fact is the top 20% of Americans pay more than 50% of all income federal taxes. When you look at all federal revenue, this 20% pays closer to 70%. Beyond that, according to Pew Research, all Taxpayers benefit from the more than $1.3 trillion worth of tax breaks that are allowed under the U.S. tax code. The largest tax break of $150.6 billion, which benefits the middle class the most, is the tax exemption of employer-paid health care, health insurance and long-term care insurance. Other tax breaks and/or exemptions include... Lower tax rates on dividends and long-term capital gains - $120.3 billion, Mortgage interest deduction for owner-occupied residences - $74.8 billion, Earned-income tax credit $70.4 billion, Contributions to and earnings of a defined-contribution retirement plans - $62.3 billion, Deductibility of (non-business) state and local income, sales and personal property taxes - $59.2 billion, Credit for children under age 17 - 57.3 billion, Contributions to and earnings of defined--benefit pension plans - $41.3 billion, Untaxed Social Security and railroad retirement benefits - $39.3 billion. These are all, currently, untaxed income that everyone should - in theory - be paying. Meanwhile, ALL federal corporate tax breaks in 2013 (the most recent year I can easily find) totaled $176 billion. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe UPS Forum
UPS Union Issues
Labor For Bernie Sanders
Top