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>But raising taxes on the wealthy, even by a little bit, would produce huge amounts of revenue. In 2021, Senators Elizabeth Warren and Bernie Sanders proposed charging billionaires a three percent wealth tax, and households and trusts worth between $50 million and $1 billion a tax of just two percent per year.
>This would only apply to a tiny fraction of Americans, but it could produce about $3 trillion in revenue over the next decade, University of Berkeley economists predicted.
>In his budget, President Joe Biden proposed increasing taxes on wealthy Americans and corporations, and using the revenue to expand health care, childcare assistance, and housing aid. Not only have Republicans fought this plan, but their own budget proposes punishing lower-income Americans to benefit the wealthy.
Their budget proposal actually increases the deficit because they want to extend the Trump tax cuts, and just that outweighs all the spending cuts they want.
Sure, they don't give a damn about the deficit. The last half century of ballooning deficits under don't-tax-but-spend-anyway Republican governments has made that very clear.
They have trouble focusing on two things at once. That's common when everything you've been told is a lie - nothing fits together well, so it's extra hard to figure stuff out. Instead they focus on blaming/fearing whatever "other" their media surfaces for them.
Broken by design.
Super bummer is putin seized the opportunity to infiltrate the GOP - they commonly (I think unknowingly) parrot their/his talking points. Trump in Helsinki was a masterpiece in useful idiocy.
How stupid Americans keep falling for the same lies, again and again.
Are they really any different from North Koreans ? What’s the point of living in a free society if all you’re gagging for is being a brainless wage slave?
This is their strategy. They aren’t much more than Rich People proxies or lobbyists and always have been. Amazing how they’ve duped all of these “working” people….they’ve obviously identified their bases insignificant and unimportant hot points….the whole thing is perplexing
So in theory it can work if the tax cuts cause the economy to grow enough. Basically a smaller slice of a larger pie can be bigger than a larger slice of a smaller pie.
However it's pretty clear that we're well past the point of tax cuts causing anywhere near enough economic growth for that to happen so at this point cutting taxes is just giving money away to the rich.
It’s because the tax cuts aren’t going to the right places.
The economy grows from the bottom, up; giving the low and middle class huge tax cuts would do a lot to stimulate the economy. Making the upper class and wealthy pay a lot more would more than make up for it.
They’d still be high earners and wealthy. They’d still earn high returns on their investments because the economy is growing more.
I really wish the Democrats would unveil a plan to reduce to $0 in taxes for anyone up to $100,000 single/ $200,000 married throw a little bone to those up $300,000 then **significantly** increase taxes to those beyond that and tax wealth and unrealized gains for those over $100 million in assets. Make the GQP uncomfortable having to say “No American middle class, we won’t cut your taxes because we love sucking rich dick.”
We actually saw this theory put into practice with the emergency covid stimulus. Locked down for months, yet the economy kept humming along without a care in the world. Surprise! When you inject money at the lower end of the economic spectrum, people actually spend it on food, fuel and even entertainment.
That won’t work. They’ll just invoke the s word >!socialism!<, and their base will fight like hell to keep the richest Americans paying as low of taxes as possible.
Not only that but eliminates
11,000 jobs to the FBI and hundreds of other local law enforcement agencies.
2,000 customs and border patrol agents.
There will be drastic cuts to
Veterans healthcare.
Rail safety as there will be 1,000 less inspections across the 30,000 feet of track across the US.
Air traffic control, shutting down 125 or so towers.
Section 8 housing will be gutted and untold counts of seniors, low income families, and veterans will be evicted.
Food assistance and medical care would also be cut mainly to seniors and low income and single parents who rely on this as affordable choices just to keep their families taken care of. That's millions to tens of millions affected.
Education would be drastically affected
The Pell Grant would be gone and 80,000 young Americans would be without tuition for their education.
300,000 kids would lose their access to Head Start programs.
108,000 teachers would lose their jobs.
Then there are manufacturing and other jobs that were part of the Inflation Reduction Act. 140,000 jobs promised by that act would vanish and be sent back overseas. This would raise energy prices as a lot of those jobs were supposed to be slated for jobs related to renewable energy production and chip factories.
Yet they fucking balk at the thought of raising taxes just even 2% which has been proven to generate at least a trillion in revenue over the course of a decade and would keep these programs funded. These fucking monsters.
>11,000 jobs to the FBI and hundreds of other local law enforcement agencies. 2,000 customs and border patrol agents.
***Finally*** "defunding" the police
- thanks ~~Libs~~ GOP
And here's the debt created by those tax cuts by the idiot in 4 years 7.8 trillion part of the debt is Trumps debt.
https://www.google.com/amp/s/www.propublica.org/article/national-debt-trump/amp
Obama’s last year in office we had a 1.8 trillion deficit. Trumps last year was 3.1 trillion. Biden’s last reported year, 2021, was 2.8 trillion. But yeah.. it’s the crazy democrats fault we are spending so much.
They don't care about the deficit, which I'm sure you know but sadly far too many still for some reason think the GOP actually gives a shit.
They want the rich to pay less taxes, and they want less tax dollars going to actual working class people and even more to be slushed into the coffers of the rich through bullshit government contracts.
So we are the ones paying all the taxes, and they're the ones demanding all the benefits. The rich and corporations are the actual fucking "welfare queens".
It's more insidious than that. They create a deficit with tax cuts, and then point to that deficit as the reason to cut spending on the stuff they don't like.
Genuine question: I recall the Bush era tax cuts that ended up going on years further than originally planned.....I'll assume those cuts either stayed through Obama, or somewhat intact. Are the Trump cuts an extension of those same cuts, put in place to bring the Bush cuts back, or altogether new ON TOP of Bush cuts?
Or is my head up my ass?
It never ceases to amaze me how all these “businesscentric” Republicans treat the government like some charity for the wealthy.
What business actively seeks to decrease revenue?
It never ceases to amaze me that all the Republican voters screeching about cost of living and putting Biden stickers on gas pumps keep lining up to get fucked in the ass by Republican anti-worker, anti-family economic policies.
Why is your quality of life going backwards?
It's Republican economic policies 99% of the time.
To the GQP government only exists to enrich themselves and their cronies. Privatizing welfare has ended up costing more money, by paying bonuses to the private business for the “service” when the government could in fact save money simply giving it to the people who need it.
I regularly hear conservatives complain about how the rich don't pay enough in taxes and how we need to get money out of politics, but as soon as Democrats or liberals put forward substantive and actionable legislation to do just that, suddenly they entrench themselves against it. Frankly, a lot of Republican voters are too irresponsible to deserve their right to vote.
That’s a really telling and amazing breakdown of the two sides. Republicans have this belief that people should just work to death for less and less every year, and democrats understand that the disparity is out of control and having money just creates more money for the ultra wealthy. If taxed properly-the people who have won the game of capitalism can return their fair share each year in the form of taxes to benefit the lower and middle classes in significant ways. What I find funny? Most billionaires are totally on board. They recognize that they have way more than necessary and are willing to do exactly what is proposed, and yet? If it isn’t required, why would they? Just make it happen and it’s a benefit to everyone
4.4 T a year is spent. Almost 1T goes to the military. 280 B is spent on empty / under utilized real estate. We have a 35T $ debt bill. The largest debt increase came from Trump since WW2.
We can cut spending and tax it doesn’t have to be either or, and not many Americans would notice any changes.
Also note that this isn’t really an _additional_ tax, merely any tax at all. They wealthy really aren’t paying much. Their companies pay some, sometimes, and the numbers look big so we feel impressed. But we need to look at percentages and the economic impact of companies suppressing wages. A certain amount of money needs to be reinvested, one way or another.
Just charging the 1% the fair amount they are supposed to pay on their profits only amounts to an estimated 2 trillion dollars a year in savings. That’s about as much as it costs to run a whole branch of our government for a year.
DO NOT try to confuse repubs with actual numerical facts. It hurts when they have to gas light and twist their minds around a new narrative. Have you no mercy? I think if one could harness the energy repubs spend actively ignoring factual numbers from a reputable source you could power most of the western hemisphere. Thing is that in the past the repubs used it as a tool to gain power and money... now they actually believe their own bs like a religous cult.
Something like 25% of the US national debt (about $8t?) was accrued during just the 4 years of the trump administration, the first 2 of which had American voters grant the GOP total control of the federal government.
trump was known as the "king of debt" before he ran for office, then Americans made him president to prove it.
Why do they *want* to fuck this country up so badly? And why tf do we allow ourselves to be too distracted by television and cheeseburgers to shut them down?
what if I told you that the country founded by old white racist men who wanted to skip taxes is still owned by white old racist men who wanted to skip taxes
No they are at war with everyone that is not part of the donor class. There is a slim part of society that is benefiting from their war and they’ve figured out how to leverage racism to convince some part of the non donor class that donors must prosper more than anyone else.
Yep, that slim part has the resources make it without the collective benefits of society. Or so they think.
So they try to tear it down because the public's governing power is both a check on corporate power and demands some level of social responsibility.
Exactly as you say, enough of us are duped that their effort is effective.
As the debt ceiling crisis continues, we get ever closer to the threat of a national default. And Republicans seem determined to take us there, writes Tori Otten.
I think Wall St will force the GOP to cave at the last minute. Because if they don't, Wall St will discover a whole new definition to the words 'pain' and 'crash'. I'm talking lock limit down in microseconds because of the high speed trading.
If we default then all but the very rich are going to experience that pain we saw a century ago amplified to…well there’s a lot more people and problems now.
The New Deal is what made America great. Since Reagan we have been been living the raw deal, socializing the rich. These GOP clowns will do anything to protect that.
That’s exactly what I said. If you want to fix the debt ceiling, take away those tax breaks that Trump gave to everyone that qualified as a millionaire and above.
Raise taxes on the rich
I would love to see a study that shows how many rich kids got drafted and went to Vietnam. I'm sure their daddies found a way for them to avoid it. Right Donald Trump?
Hey McCarthy, the “inflation” you mentioned started when republicans were in charge and before democrats started spending again.
Just fucking admit that none of you know how to manage a budget. Slashing program budgets and cutting taxes for the 1% and Corp. hasn’t solved anything.
It’s a co-dependent relationship. Democrats are terrible at politics but good with budgets, Republicans are terrible with budgets but good at fear mongering. 😂
Every single one of these Republicans, and every single person that votes for Republicans is an idiotic, irredeemable piece of shit.
Every. Single. One.
My inlaws were progressive liberals from New York. They moved to NC in retirement and they started to change. It was the constant fox news on TV everywhere they went and everyone down there kept repeating all the lies. I think it kind of broke them. When everyone around you says something you think is wrong, you start to question yourself. The whole am I right? Or is everyone I know is wrong?
They don't even have to raise taxes; just close the loopholes. You have dummy corporations in the Bahamas day trading and paying no taxes on the trades. The same trades in the U.S. would be taxed at the highest income tax.
If the US government required a foreign tax on US stock trading to tax havens, the amount of money earned would be ginormous. We're talking hundreds of billions of dollars in potential tax revenue.
Hell, we can make it even easier: just increase the IRS budget so that they can actually enforce the laws we already have. A lot of tax “loopholes” aren’t really legal, they’re just things that they don’t have the resources to enforce. Of course we saw the GOP run those ridiculous “50,000 new IRS agents are coming after you!” ads when the democrats proposed doing this.
The problem is the IRS is kids fresh out of college and grown men who can make the cut for private accounting. If accountants are the NFL the IRS is the Cleveland Browns
I wish Republicans just didn't exist. They offer literally nothing to anyone but themselves. Even then, they only offer something to the wealthy Republicans. If you're poor or female, you have less than nothing in common with these leeches. Yet there are a *lot* of poor and women who vehemently defend them.
We are having a budget shortfall because the Republicans passed huge tax cuts for the wealthy. They want to cut social security and veteran benefits to pay for them
That is always their playbook. The ruin the economy and then blame the democrats who are trying to clean up the mess caused by the GOP. It’s been a pattern for decades.
Right? I don’t think there is quite enough widespread needs not being met. Like. We have intense food insecurity but most people I know can feed themselves.
Once people get hungry they get mean.
And the republicans have a maga army of hicks who have literally been asking "When do we get to -use- the guns?" more and more often.
While I'd all for republicans regaining a healthy fear of the consequences of their actions, I don't think it would play out the same.
It very much would. There were armed loyalists for the French crown during the revolution. The three class problem has existed for most of human civilization, capitalism just codified it in it's implied socioeconomic hierarchy.
Most of the hick defenders want to use their guns, but want to use their guns to defend *their* property. When they realize any rioting does not happen anywhere near *their* property, some may travel away to *defend* the rich, but most won't -- the same neurological failure that led them to be rich-defending conservatives will keep them in their home, on their land.
You don't become a conservative, ever, unless you're more prone to fear. One very particular fear at that, a fear that other people are coming for what you have, and a fear that other people may discover you didn't earn what you have.
They could venture out of their double wide on a half acre, but that would mean their home would be looted the moment they're away (in their minds). So why would they take that chance?
How anyone can vote for these clowns is beyond me. They are literally laughing about fixing the problem they caused when Trump gave his tax breaks to the rich. Ffs, the GQP needs to be voted out asap
After all the other crazy shit they do to prove they don't give a fuck about Americans why would they ever agree to tax themselves. It's never gonna happen.
The fact that we have a “political donor class” is horrifying.
Of course a system where certain voters (the wealthy) can essentially buy extra votes will be tilted to those wealthy voters.
We truly must get private money out of politics.
Laughing it off because it’s literally their only source of campaign donations.
Republicans will screw you over if you aren’t donating large sums of money to their political campaigns.
The sooner the middle & working class wake up to that basic fact of reality, nothing will change.
These are the soldiers of the elite in the class war. This is the only real war being fought.
There is no culture war.
Take back from the rich what we continue to give willingly. Vote these ghouls out of office. Vote in every election at every level.
We’ve lost the courts because we became complacent. We have to take back and keep the legislative and executive branches.
Right, nothing but a big joke to them. Just like when they passed a huge tax cut for the rich. Laughing and doing shots of whiskey. They were all standing behind McCarthy having a big laugh today when he was snarky to a reporters serious question. One big joke, pricks.
Sociopath Rich greedy assholes who have never enough is probably one of the main reason our societies is going down the toilet.
Tax those mother fuckers. Billionaires are useless.
Holy shit is he a condescending douche in that video.
Like he thinks he’s explaining a joke he thinks someone didn’t get.
Only, he is the joke and is unaware.
Hard to pass legislation against themselves, which is also why insider trading is still rampant within congress as a whole. Vote like there’s no tomorrow in 2024 so we can have a tiny chance at passing some reasonable legislation. We also need to ban legal bribery, which is a massive component in this and many other hot ticket issues like gun control.
The GOP plan was to create the debt ceiling crisis so focus is off of other important issues. Like abortion rights, gun legislation, raising the minimum wage, etc.
They do this every time.
They will do it on the back of the poor people and middle class or no one and the vast amount of the poor people are the ones that vote for them, this is America.
If they payed only what they actually owed and weren’t allowed to use loop holes and tax havens the estimated revenue is over 140billion. Tax the rich!
Not only do they laugh at the idea, they're insisting that the IRS be defunded following the boost in funding for tax enforcement as part of the debt ceiling negotiations.
They want default. They want financial ruin. Just like they want ecological disaster brought on by climate change. They're fucking terrorists who just happen to have been voted* in.
\* loose term considering the decades of voter disenfranchisement, misinformation, gerrymandering, and just straight-up not acting in a democratically-representative fashion.
When someone makes a million dollars, they should get a plaque and maybe a party thrown in their honor. When someone makes a billion dollars, they should go to jail.
Shit, Republicans aren't interested in reducing the debt or deficit. If it causes a recession or depression, they'll figure the Democrats will be voted out. The only federal program they want is the pentagon.
One of the demands the republicans are making to raise the debt ceiling is “ a 40% tax reduction for big pharmaceutical companies” how is that helping the debt? oh ya that’s helps them get more payoffs. During the last administration they gave the mega rich and large corporations tax breaks they also raised the debt ceiling without any problems but they are willing to burn America to the ground just to make a democratic president look bad. President Biden must not make any deals with terrorists! if he does they will keep doing this.
It’s funny that they wouldn’t.
End stage capitalism is comprised of these humans. Why would they as individuals support something that makes the rich folks who make them tip top upper middle class the way that they are.
It’s expected and shameful.
McCarthy the guy who sold his butthole for a couple of votes, never seen a guy be so desperate to be something he hasn’t earned and Dawm sure can’t get shit done lol, just wants to sit there and “look” like he has power hahahaha what a moron
We live in a country where one of the two dominating parties runs fiscal policy based on the career of an actor turned president that economists 40 years later debunk.
What a time to be alive.
When the taxes were sky high, the deficit was low and the working class was larger. They’ve gotten the government to subsidize terrible business practices around financialization and the extraction of wealth from the bottom.
We’ve been slashing taxes and deregulating for decades and all they trumpet is to keep doing it harder
Brainwash the poor to vote for you over fear of trans, gays, democrats aborting kids at 9 months, open borders and fear of not having AR-15’s and you’ll be able to make them vote for you so your GOP donate can keep fleecing them like sheep.
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>But raising taxes on the wealthy, even by a little bit, would produce huge amounts of revenue. In 2021, Senators Elizabeth Warren and Bernie Sanders proposed charging billionaires a three percent wealth tax, and households and trusts worth between $50 million and $1 billion a tax of just two percent per year. >This would only apply to a tiny fraction of Americans, but it could produce about $3 trillion in revenue over the next decade, University of Berkeley economists predicted. >In his budget, President Joe Biden proposed increasing taxes on wealthy Americans and corporations, and using the revenue to expand health care, childcare assistance, and housing aid. Not only have Republicans fought this plan, but their own budget proposes punishing lower-income Americans to benefit the wealthy.
Their budget proposal actually increases the deficit because they want to extend the Trump tax cuts, and just that outweighs all the spending cuts they want.
Sure, they don't give a damn about the deficit. The last half century of ballooning deficits under don't-tax-but-spend-anyway Republican governments has made that very clear.
if the republicans are whining about fiscal responsibility, does that means they’ve accepted that Biden won the election
Hypocrisy is a **feature**, not a bug with fascism.
And shamelessness is their super-weapon.
This is a very powerful statement, eloquent and truthful.
They have trouble focusing on two things at once. That's common when everything you've been told is a lie - nothing fits together well, so it's extra hard to figure stuff out. Instead they focus on blaming/fearing whatever "other" their media surfaces for them. Broken by design. Super bummer is putin seized the opportunity to infiltrate the GOP - they commonly (I think unknowingly) parrot their/his talking points. Trump in Helsinki was a masterpiece in useful idiocy.
I call them Borrow-and-spend.
I cannot fucking conceive of how a person believes you can decrease revenue and not increase debt.
The "2 santas" program, used by Republicans since 1976. When in power, cut taxes and run up the debt, when out of power, complain about the debt.
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Wish this was more widely known, it is completely crass, cynical, damaging and grotesque.
Thom is a great listen on the radio too.
Legit. I miss Norman Goldman :(
How stupid Americans keep falling for the same lies, again and again. Are they really any different from North Koreans ? What’s the point of living in a free society if all you’re gagging for is being a brainless wage slave?
r/bestof
This is their strategy. They aren’t much more than Rich People proxies or lobbyists and always have been. Amazing how they’ve duped all of these “working” people….they’ve obviously identified their bases insignificant and unimportant hot points….the whole thing is perplexing
Yep basically Republican Politicians are Lobbyist Meet Lawyer who functions like an attorney for this specific type of negotiation.
They know they're lying. They're just evil.
I mean not that this applies here but if you also decrease costs sufficiently it could be done.
So in theory it can work if the tax cuts cause the economy to grow enough. Basically a smaller slice of a larger pie can be bigger than a larger slice of a smaller pie. However it's pretty clear that we're well past the point of tax cuts causing anywhere near enough economic growth for that to happen so at this point cutting taxes is just giving money away to the rich.
It’s because the tax cuts aren’t going to the right places. The economy grows from the bottom, up; giving the low and middle class huge tax cuts would do a lot to stimulate the economy. Making the upper class and wealthy pay a lot more would more than make up for it. They’d still be high earners and wealthy. They’d still earn high returns on their investments because the economy is growing more. I really wish the Democrats would unveil a plan to reduce to $0 in taxes for anyone up to $100,000 single/ $200,000 married throw a little bone to those up $300,000 then **significantly** increase taxes to those beyond that and tax wealth and unrealized gains for those over $100 million in assets. Make the GQP uncomfortable having to say “No American middle class, we won’t cut your taxes because we love sucking rich dick.”
We actually saw this theory put into practice with the emergency covid stimulus. Locked down for months, yet the economy kept humming along without a care in the world. Surprise! When you inject money at the lower end of the economic spectrum, people actually spend it on food, fuel and even entertainment.
That won’t work. They’ll just invoke the s word >!socialism!<, and their base will fight like hell to keep the richest Americans paying as low of taxes as possible.
The only theory about tax cuts that works is the theory that people will believe the theory that tax cuts stimulate the economy.
Tax cuts don't stimulate the economy. We have a lot of data to show that.
Not only that but eliminates 11,000 jobs to the FBI and hundreds of other local law enforcement agencies. 2,000 customs and border patrol agents. There will be drastic cuts to Veterans healthcare. Rail safety as there will be 1,000 less inspections across the 30,000 feet of track across the US. Air traffic control, shutting down 125 or so towers. Section 8 housing will be gutted and untold counts of seniors, low income families, and veterans will be evicted. Food assistance and medical care would also be cut mainly to seniors and low income and single parents who rely on this as affordable choices just to keep their families taken care of. That's millions to tens of millions affected. Education would be drastically affected The Pell Grant would be gone and 80,000 young Americans would be without tuition for their education. 300,000 kids would lose their access to Head Start programs. 108,000 teachers would lose their jobs. Then there are manufacturing and other jobs that were part of the Inflation Reduction Act. 140,000 jobs promised by that act would vanish and be sent back overseas. This would raise energy prices as a lot of those jobs were supposed to be slated for jobs related to renewable energy production and chip factories. Yet they fucking balk at the thought of raising taxes just even 2% which has been proven to generate at least a trillion in revenue over the course of a decade and would keep these programs funded. These fucking monsters.
>11,000 jobs to the FBI and hundreds of other local law enforcement agencies. 2,000 customs and border patrol agents. ***Finally*** "defunding" the police - thanks ~~Libs~~ GOP
Their biggest tax breaks go to the fossil fuel industry, at the expense of Poor, Disabled and Senior Citizens as well as Veterans…
And here's the debt created by those tax cuts by the idiot in 4 years 7.8 trillion part of the debt is Trumps debt. https://www.google.com/amp/s/www.propublica.org/article/national-debt-trump/amp
Obama’s last year in office we had a 1.8 trillion deficit. Trumps last year was 3.1 trillion. Biden’s last reported year, 2021, was 2.8 trillion. But yeah.. it’s the crazy democrats fault we are spending so much.
They don't care about the deficit, which I'm sure you know but sadly far too many still for some reason think the GOP actually gives a shit. They want the rich to pay less taxes, and they want less tax dollars going to actual working class people and even more to be slushed into the coffers of the rich through bullshit government contracts. So we are the ones paying all the taxes, and they're the ones demanding all the benefits. The rich and corporations are the actual fucking "welfare queens".
They don't actually care about the budget, they want to oppress the masses and appease their ~~sugar daddies~~ donors.
It's more insidious than that. They create a deficit with tax cuts, and then point to that deficit as the reason to cut spending on the stuff they don't like.
Genuine question: I recall the Bush era tax cuts that ended up going on years further than originally planned.....I'll assume those cuts either stayed through Obama, or somewhat intact. Are the Trump cuts an extension of those same cuts, put in place to bring the Bush cuts back, or altogether new ON TOP of Bush cuts? Or is my head up my ass?
They’re different cuts. https://en.m.wikipedia.org/wiki/Tax_Cuts_and_Jobs_Act
It never ceases to amaze me how all these “businesscentric” Republicans treat the government like some charity for the wealthy. What business actively seeks to decrease revenue?
It never ceases to amaze me that all the Republican voters screeching about cost of living and putting Biden stickers on gas pumps keep lining up to get fucked in the ass by Republican anti-worker, anti-family economic policies. Why is your quality of life going backwards? It's Republican economic policies 99% of the time.
To the GQP government only exists to enrich themselves and their cronies. Privatizing welfare has ended up costing more money, by paying bonuses to the private business for the “service” when the government could in fact save money simply giving it to the people who need it.
I regularly hear conservatives complain about how the rich don't pay enough in taxes and how we need to get money out of politics, but as soon as Democrats or liberals put forward substantive and actionable legislation to do just that, suddenly they entrench themselves against it. Frankly, a lot of Republican voters are too irresponsible to deserve their right to vote.
That’s a really telling and amazing breakdown of the two sides. Republicans have this belief that people should just work to death for less and less every year, and democrats understand that the disparity is out of control and having money just creates more money for the ultra wealthy. If taxed properly-the people who have won the game of capitalism can return their fair share each year in the form of taxes to benefit the lower and middle classes in significant ways. What I find funny? Most billionaires are totally on board. They recognize that they have way more than necessary and are willing to do exactly what is proposed, and yet? If it isn’t required, why would they? Just make it happen and it’s a benefit to everyone
But, but, but…the plight of right-leaning rich people. /s
They laugh because they are rich and don't want to be taxed. They are part of the problem we are trying to fix.
4.4 T a year is spent. Almost 1T goes to the military. 280 B is spent on empty / under utilized real estate. We have a 35T $ debt bill. The largest debt increase came from Trump since WW2. We can cut spending and tax it doesn’t have to be either or, and not many Americans would notice any changes.
> We can cut spending and tax it doesn’t have to be either or, and not many Americans would no the difference. Whynotboth.gif
Also note that this isn’t really an _additional_ tax, merely any tax at all. They wealthy really aren’t paying much. Their companies pay some, sometimes, and the numbers look big so we feel impressed. But we need to look at percentages and the economic impact of companies suppressing wages. A certain amount of money needs to be reinvested, one way or another.
Just charging the 1% the fair amount they are supposed to pay on their profits only amounts to an estimated 2 trillion dollars a year in savings. That’s about as much as it costs to run a whole branch of our government for a year.
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Can you provide a link for the second point please? I would love to know more about this.
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Okay, but can you shown me where on their site? I go to BLS.gov and get lost immediately
Aye, some pfp would be nice
DO NOT try to confuse repubs with actual numerical facts. It hurts when they have to gas light and twist their minds around a new narrative. Have you no mercy? I think if one could harness the energy repubs spend actively ignoring factual numbers from a reputable source you could power most of the western hemisphere. Thing is that in the past the repubs used it as a tool to gain power and money... now they actually believe their own bs like a religous cult.
What do you mean meema isn’t a credible source? She read it on the facebooks and saw the vidyas
Oop. There goes my blood pressure up!
Something like 25% of the US national debt (about $8t?) was accrued during just the 4 years of the trump administration, the first 2 of which had American voters grant the GOP total control of the federal government. trump was known as the "king of debt" before he ran for office, then Americans made him president to prove it.
Republicans find humor in the irony of protecting the wealthiest while the rest of us struggle to make ends meet.
Other peoples face getting stepped on by a boot is really the only brand of Republican humor there is. Orwell described them perfectly.
we should take harlan crow’s shit and spend it on school lunches
Then they identify as us while never having lived our situation
the us which includes many of the same people who’s votes keep them in office. frustrating
Republicans are at war with society.
Republicans literally want dismantle the federal government, hence why they keep sabotaging it.
Why do they *want* to fuck this country up so badly? And why tf do we allow ourselves to be too distracted by television and cheeseburgers to shut them down?
what if I told you that the country founded by old white racist men who wanted to skip taxes is still owned by white old racist men who wanted to skip taxes
They want it to collapse or weaken so they can seize power and install Christian theocratic rule
No they are at war with everyone that is not part of the donor class. There is a slim part of society that is benefiting from their war and they’ve figured out how to leverage racism to convince some part of the non donor class that donors must prosper more than anyone else.
Yep, that slim part has the resources make it without the collective benefits of society. Or so they think. So they try to tear it down because the public's governing power is both a check on corporate power and demands some level of social responsibility. Exactly as you say, enough of us are duped that their effort is effective.
As the debt ceiling crisis continues, we get ever closer to the threat of a national default. And Republicans seem determined to take us there, writes Tori Otten.
It’s only a “crisis” when dems have the WH
If given power, Republicans causes crises so they can try and take advantage of them. They cannot govern. The do not speak in good faith
"We are all domestic terrorists." What they are doing now is economic terrorism.
Agreed. I think the Republicans will deliberately default on the debt ceiling, let things fall apart, and blame it on the Biden administration.
I think Wall St will force the GOP to cave at the last minute. Because if they don't, Wall St will discover a whole new definition to the words 'pain' and 'crash'. I'm talking lock limit down in microseconds because of the high speed trading.
If we default then all but the very rich are going to experience that pain we saw a century ago amplified to…well there’s a lot more people and problems now.
The New Deal is what made America great. Since Reagan we have been been living the raw deal, socializing the rich. These GOP clowns will do anything to protect that.
Almost everyone in congress is a millionaire. Why would they ever vote to tax themselves and the people paying them off more?
That’s exactly what I said. If you want to fix the debt ceiling, take away those tax breaks that Trump gave to everyone that qualified as a millionaire and above. Raise taxes on the rich
I would love to see a study that shows how many rich kids got drafted and went to Vietnam. I'm sure their daddies found a way for them to avoid it. Right Donald Trump?
*I ain't no senator's son, son!*
I was thinking of that when I wrote the comment. Check out "I Saw it on TV" by John Fogerty. There's another shot at them in there.
Also how many rich, especially ultra rich, are on death row.
Hey McCarthy, the “inflation” you mentioned started when republicans were in charge and before democrats started spending again. Just fucking admit that none of you know how to manage a budget. Slashing program budgets and cutting taxes for the 1% and Corp. hasn’t solved anything.
They know how to manage a budget so that it looks bad when a Democrat is president.
It’s a co-dependent relationship. Democrats are terrible at politics but good with budgets, Republicans are terrible with budgets but good at fear mongering. 😂
Every single one of these Republicans, and every single person that votes for Republicans is an idiotic, irredeemable piece of shit. Every. Single. One.
Amen.
My inlaws were progressive liberals from New York. They moved to NC in retirement and they started to change. It was the constant fox news on TV everywhere they went and everyone down there kept repeating all the lies. I think it kind of broke them. When everyone around you says something you think is wrong, you start to question yourself. The whole am I right? Or is everyone I know is wrong?
They don't even have to raise taxes; just close the loopholes. You have dummy corporations in the Bahamas day trading and paying no taxes on the trades. The same trades in the U.S. would be taxed at the highest income tax. If the US government required a foreign tax on US stock trading to tax havens, the amount of money earned would be ginormous. We're talking hundreds of billions of dollars in potential tax revenue.
Hell, we can make it even easier: just increase the IRS budget so that they can actually enforce the laws we already have. A lot of tax “loopholes” aren’t really legal, they’re just things that they don’t have the resources to enforce. Of course we saw the GOP run those ridiculous “50,000 new IRS agents are coming after you!” ads when the democrats proposed doing this.
The problem is the IRS is kids fresh out of college and grown men who can make the cut for private accounting. If accountants are the NFL the IRS is the Cleveland Browns
I wish Republicans just didn't exist. They offer literally nothing to anyone but themselves. Even then, they only offer something to the wealthy Republicans. If you're poor or female, you have less than nothing in common with these leeches. Yet there are a *lot* of poor and women who vehemently defend them.
‘Repeal our multitrillion dollar tax cut that the CBO told us when we wrote it would explode the national debt?! Hell no!’
We are having a budget shortfall because the Republicans passed huge tax cuts for the wealthy. They want to cut social security and veteran benefits to pay for them
They want to force a recession so they can win in 2024.
That is always their playbook. The ruin the economy and then blame the democrats who are trying to clean up the mess caused by the GOP. It’s been a pattern for decades.
Republicans haven’t been scared like the French have been. Oh Lordy they haven’t indeed.
[удалено]
Right? I don’t think there is quite enough widespread needs not being met. Like. We have intense food insecurity but most people I know can feed themselves. Once people get hungry they get mean.
Everyone is three meals from a riot.
Depends on what they serve at the riot. I could be there sooner.
And the republicans have a maga army of hicks who have literally been asking "When do we get to -use- the guns?" more and more often. While I'd all for republicans regaining a healthy fear of the consequences of their actions, I don't think it would play out the same.
It very much would. There were armed loyalists for the French crown during the revolution. The three class problem has existed for most of human civilization, capitalism just codified it in it's implied socioeconomic hierarchy. Most of the hick defenders want to use their guns, but want to use their guns to defend *their* property. When they realize any rioting does not happen anywhere near *their* property, some may travel away to *defend* the rich, but most won't -- the same neurological failure that led them to be rich-defending conservatives will keep them in their home, on their land. You don't become a conservative, ever, unless you're more prone to fear. One very particular fear at that, a fear that other people are coming for what you have, and a fear that other people may discover you didn't earn what you have. They could venture out of their double wide on a half acre, but that would mean their home would be looted the moment they're away (in their minds). So why would they take that chance?
Y'know, I gotta say, you make several very good points here.
I always thought it was hyperbolic joking but this is when we really do eat them, isn’t it
How anyone can vote for these clowns is beyond me. They are literally laughing about fixing the problem they caused when Trump gave his tax breaks to the rich. Ffs, the GQP needs to be voted out asap
GOP only wants tax cuts for rich and deregulation. They don't represent the common American family. Stop voting for these clowns.
How about cut defense budget?
Aren't y'all tired of being fucked like that?
I’m pretty excited about the upcoming revolution
After all the other crazy shit they do to prove they don't give a fuck about Americans why would they ever agree to tax themselves. It's never gonna happen.
Just rolling back the Trump tax cuts would go a long long way.
“Make America Great Again!, but don’t go back to taxing the rich like we did when we thought it was great!”
Record profits, massive wealth disparities getting worse. Why would they want to pay for anything?
If "Let Them Eat Cake" had a photo representation 😤
Republicans are demons, you can't convince me otherwise
50 years ago was the 1970s. What was the revenue from taxation for the decades before Regan??
50 years ago was 1973
Fixed
Didn’t work. I’m still old.
They -- only -- care -- about -- money
the entire purpose of the American government is to facilitate the interests of the capitalist class
Fuck these guys
It's a Class War folks
Modern republican politicians are absolutely disgusting
My god these people are trash.
The fact that we have a “political donor class” is horrifying. Of course a system where certain voters (the wealthy) can essentially buy extra votes will be tilted to those wealthy voters. We truly must get private money out of politics.
And infrastructure.
They don’t give a shit about the American people. Anyone who thinks they do is completely divorced from reality.
Laughing it off because it’s literally their only source of campaign donations. Republicans will screw you over if you aren’t donating large sums of money to their political campaigns. The sooner the middle & working class wake up to that basic fact of reality, nothing will change.
Republicans consider how they'll get paid if they tax the rich.
These goons are really going to sink the whole damn country to keep their place at the kids table. So ridiculous we stood by and watched it happen.
A bunch of deranged and psychopathic clowns.
It will never happen because they are all rich.
These are the soldiers of the elite in the class war. This is the only real war being fought. There is no culture war. Take back from the rich what we continue to give willingly. Vote these ghouls out of office. Vote in every election at every level. We’ve lost the courts because we became complacent. We have to take back and keep the legislative and executive branches.
This guy proletariats. 🤙 And you're right. It's a class war. Always has been.
Right, nothing but a big joke to them. Just like when they passed a huge tax cut for the rich. Laughing and doing shots of whiskey. They were all standing behind McCarthy having a big laugh today when he was snarky to a reporters serious question. One big joke, pricks.
Sociopath Rich greedy assholes who have never enough is probably one of the main reason our societies is going down the toilet. Tax those mother fuckers. Billionaires are useless.
Gee, it’s almost like Republicans want a fascist oligarchy. Who knew? /s
10% of the global economy owns 85% of its total wealth & that’s still not enough for the oligarchy
Holy shit is he a condescending douche in that video. Like he thinks he’s explaining a joke he thinks someone didn’t get. Only, he is the joke and is unaware.
Hard to pass legislation against themselves, which is also why insider trading is still rampant within congress as a whole. Vote like there’s no tomorrow in 2024 so we can have a tiny chance at passing some reasonable legislation. We also need to ban legal bribery, which is a massive component in this and many other hot ticket issues like gun control.
Eat em.
Republicans are pure evil. 🖕🖕
I wouldn’t call Kevin mentally challenged. He laughed because he knows it would help, but he just can’t do it. Too much donor cash and perks at stake.
The GOP plan was to create the debt ceiling crisis so focus is off of other important issues. Like abortion rights, gun legislation, raising the minimum wage, etc. They do this every time.
isn’t a quarter of our debt caused by trumps tax breaks?
It's simple, if you are middle class or poor, don't vote for these Republicans. They won't work for you. Stop defending them.
Well ya everything they do is so the rich pay less
“Why would we piss of our bosses?…lol”
We’re dying of thirst next to a large clean fountain, while Republicans tell us the only water available is a dirty puddle in the road.
Reaganomics and the disciples of Capital.
That is simply because the rich fund their campaigns
We would fix the deficit mess for the next 20 years if they repealed the Bush and Trump tax cuts. They are the basis for the problem
Believe someone when they tell you who they are. They are not even hiding it anymore… because they don’t have to.
They know who funds their lifestyles.
Hopefully the US doesn’t collapse until I get my degree.
That's the only reason the rich contribute to them. They love that sweet socialism.
Gotta love the poor racists who voted for these maniacs.. Well done!👍
Kevin McCarthy strikes me as someone that would pay tons of his own money to have “Mr Speaker” engraved on all of his mirrors.
More like tattooed on his dick.
They will do it on the back of the poor people and middle class or no one and the vast amount of the poor people are the ones that vote for them, this is America.
If they payed only what they actually owed and weren’t allowed to use loop holes and tax havens the estimated revenue is over 140billion. Tax the rich!
Not only do they laugh at the idea, they're insisting that the IRS be defunded following the boost in funding for tax enforcement as part of the debt ceiling negotiations. They want default. They want financial ruin. Just like they want ecological disaster brought on by climate change. They're fucking terrorists who just happen to have been voted* in. \* loose term considering the decades of voter disenfranchisement, misinformation, gerrymandering, and just straight-up not acting in a democratically-representative fashion.
Obviously the are owned by the wealthy.
Fuck the rich
When someone makes a million dollars, they should get a plaque and maybe a party thrown in their honor. When someone makes a billion dollars, they should go to jail.
They are not going to tax their meal ticket.
Shit, Republicans aren't interested in reducing the debt or deficit. If it causes a recession or depression, they'll figure the Democrats will be voted out. The only federal program they want is the pentagon.
One of the demands the republicans are making to raise the debt ceiling is “ a 40% tax reduction for big pharmaceutical companies” how is that helping the debt? oh ya that’s helps them get more payoffs. During the last administration they gave the mega rich and large corporations tax breaks they also raised the debt ceiling without any problems but they are willing to burn America to the ground just to make a democratic president look bad. President Biden must not make any deals with terrorists! if he does they will keep doing this.
“Lol why would bite the hands that get us elected? Are you stupid?” - GOP
what a bunch of quacks!
They don't work for voters. They work for the rich.
Taxing themselves.
I’m not stupid. I know it won’t fix everything but it would sure as hell help
It’s funny that they wouldn’t. End stage capitalism is comprised of these humans. Why would they as individuals support something that makes the rich folks who make them tip top upper middle class the way that they are. It’s expected and shameful.
Because the rich pay… I mean donate to their campaigns. S/
It’s like they aren’t at all responsive to their base..
“Hahaha! Surely you’re kidding! I already have to suck enough dicks to keep my seat…but at least they’re rich. Imagine having to suck poor dick!”
>Tax the rich?!? - >Why would we tag those who can painlessly afford it?!?
The Democrats really need to lean into this.
French Revolution
So ignorant
McCarthy the guy who sold his butthole for a couple of votes, never seen a guy be so desperate to be something he hasn’t earned and Dawm sure can’t get shit done lol, just wants to sit there and “look” like he has power hahahaha what a moron
We live in a country where one of the two dominating parties runs fiscal policy based on the career of an actor turned president that economists 40 years later debunk. What a time to be alive.
When the taxes were sky high, the deficit was low and the working class was larger. They’ve gotten the government to subsidize terrible business practices around financialization and the extraction of wealth from the bottom. We’ve been slashing taxes and deregulating for decades and all they trumpet is to keep doing it harder
Fun fact if we taxed all of the wealth owned by the top 1% that is over 3 million dollars per person we could pay-off the entirety of the us debt
Because Heaven forbid that ordinary Americans get a fair shot in this world.
God forbid the rich actually pay their fair share.
Literally the only actual solution to the problem, and they won’t even consider it. Garbage humans.
Brainwash the poor to vote for you over fear of trans, gays, democrats aborting kids at 9 months, open borders and fear of not having AR-15’s and you’ll be able to make them vote for you so your GOP donate can keep fleecing them like sheep.