Alexandria Ocasio-Cortez @AOC: Ok, then undo the yacht and private jet tax breaks GOP passed

[BeckyDem]

Link to tweet

( It's good to shove reality in McCarthy's face. +1. )

[Botany]

1. Kevin McCarthy, "Washington has to spend less. It's as simple as that."

Christ does this shit piss me off. Bald faced lies by McCarthy. I'm convinced McCarthy and the Free Dumb
Caucus want to crash the economy so they can blame Biden and the democrats.

This is about paying off the bills run up by Trump and the republicans not the democrats.

How much will Ted Cruz's investigation into Bud Light cost?

https://www.democraticunderground.com/10143076574

[BeckyDem]

2. Oh I know, all they do is put up distractions.

They want their base to focus on any perceived bias and expand on it while they loot the treasury.


Sociopaths if you ask me.

[ShazzieB]

9. I'm afraid you may be right about their intentions.

I'm convinced McCarthy and the Free Dumb Caucus want to crash the economy so they can blame Biden and the democrats.

Either that, or they want to force Biden into using the14th amendment option so they can make a big stink about him supposedly overstepping his authority and being a "tyrant"!

Those jerks don't care who or what they hurt as long as they can make Biden look bad. Crash the U.S. economy? Crash the world economy? Who cares as long as they get what they want!

I HATE the Free Dumb Caucus, but I think I hate McCarthy even more for being willing to sell his soul to them for the Speakership. They are loons, but he has so little self-respect that he's willing to be the slave of loons. He is SO pathetic!

[AZLD4Candidate]

42. There's a reason I call him Speaker Weak and Stupid

[LiberalFighter]

30. They want to pay less to the military grunts and for Social Security.

[gratuitous]

3. It's good to keep this stuff in mind

The Republicans want nothing more than to pretend that the debt ceiling needs to be lifted to accommodate next year's budget. They frame it that way relentlessly, and sad to say, lazy journalists buy into their framing. The debt ceiling needs to be raised to pay for all the spending the Republicans authorized in 2017 when they gave away a substantial chunk of the Treasury to their rich pals.

So now the time comes that we need to pay the country's bills incurred in the last several years and now coming due. But we're a little short on cash since we gave rich people more money, so now it's time for disabled and retired citizens to pungle up, and single mothers living close to the bone have to forego SNAP benefits. Because Kevin McCarthy couldn't possibly ask Howard Schultz or Elon Musk to kick in a little more.

[BeckyDem]

12. Agree. The journos often make it about a horse race versus what it really is.

GOP is clinging to every opportunity to satisfy their donors by not raising their taxes.

[Beartracks]

23. Succinct description.

Thank you.

========

[crickets]

4. Thank you.

The middle class can no longer carry the majority of the tax burden and the tax breaks for the rich. Let them pay their fair share for a change.

[madinmaryland]

5. Yes. It is time for the IRRESPONSIBLE tax cuts of the last 40 years for millionaires and

billionaires be rolled back to the rates the were 45 years ago.

Enough is enough. Time for the wealthy and ultra-wealthy to pay their fair share.

[AllaN01Bear]

8. aggree.

[OldBaldy1701E]

14. I prefer 70/75 years ago myself. (n/t)

[uponit7771]

58. Federal taxes are mostly progressive except for payment in stocks which cap gains should be taxed

... at the same rate as income.

Allowing the upper 5% earners to only pay 15% in taxes on equities sells they get as compensation is a crime.

[OldBaldy1701E]

60. Yes, it is.

But when it comes to the level of greed in this country, being criminal is just part of the business model. Successfully committing those crimes is seen as a good thing when it comes to being rich.

[IbogaProject]

65. Nope the income tax is progressive

Most of our federal tax burden is not progressive. FICA is a straight 10.5% or 18% on every wage income dollar. The chart that used to come on the back of the 1040 booklet was misleading as it didn't show the disparate payments between heirs and wage earners. The 2017 wealthy tax cuts are partially 'funded' with middle class tax hikes, which were disguised by temporary tax credits which decrease every odd tax year. Those cynical hikes come due every even year election season.

[uponit7771]

67. Better stated, even I fall into being unspecific.

[uponit7771]

57. +1, tax stock compensation at regular rates (link)

https://www.democraticunderground.com/100217929915

[BeckyDem]

10. Yep. Exactly what Biden is calling for too.

[Rebl2]

18. ABSOLUTELY!

[Zeitghost]

36. The middle class does not carry a majority of the burden

The top 1% pays ~40% of income taxes
The top 5% pays ~60%
The top 10% pay ~75%
The top 25% pay ~90%


That is not to say that the wealthy can not and should not pay more. just wanted to post accurate facts for discussion.

[Wifes husband]

38. Wealthy

I have heard about the wealthy paying all the taxes all my life. I understand the statistics, but the fact remains that we still have people with million dollar boats and 300 million dollar airplanes, not to mention space ships. Space ships!

Some how these over taxed people seem to do alright. And I don't care. If you have to prove your superiority by getting the biggest or best of whatever, fine. But the fact remains that you actually cannot take all your stuff with you when you die. King Tut tried. Did not work.

Our infrastructure is under funded. We have hungry children in this county, and people dying because they cannot get health care.

Other countries do a better job at taking care of people than we do, and we can do better

[uponit7771]

53. The RWTP excludes compensation in equities, they don't get taxed at income tax rates

[Dave says]

40. And they benefit the most from these taxes

[uponit7771]

54. The RWTP excludes compensation in equities, they don't get taxed at income tax rates

Then they get loans off equity amounts and pay nothing

[58Sunliner]

43. What year are these stats based on? My research says 2020, the pandemic year, which is an anomaly.

Tax rebates were given to offset salary losses. Furthermore, income up to the poverty level is not taxed, which accounts for over 11% of the population. Income above the poverty level? One third flows to the top 1%. The federal taxes on payroll and state and local taxes combine to make 75% of all tax revenue. Guess who pays more? Taking into account all taxes paid, the rich pay less. I'm not even going to account for allowable deductions and carry-overs, etcc... that the wealthy take advantage of that the majority of americans do not have resources for or accountants to structure their income/debt/investments etc.. to their advantage.

[uponit7771]

55. The RWTP excludes compensation in equities, they don't get taxed at income tax rates

Then they get loans off the equity amounts and pay nothing in taxes

[58Sunliner]

78. Good point. Equities are a large part of compensation packages for the rich.

[uponit7771]

52. This is a RWTP which excludes compensation in equities and capital gains.

Even the WSJ covers this

https://archive.fo/6tgIa

Then the rich get asset loans like Trump does (albeit not so illegally over inflated) based off equity holdings and pay nothing in taxes

[Zeitghost]

72. I'm not sure what part of

They could and should pay more I could make more clear.

FWIW, the poor don't pay much in capital gains.

[uponit7771]

75. The poor don't get compensated much in equities either. My point is the rich are NOT paying their

... fair share in taxes from their compensation.

[Zeitghost]

77. I don't disagree

My problem was with the labeling of my post as a RWTP when I quite clearly stated that I was posting facts that contradicted a previous claim in the thread for the sake of honest discussion and that I in no way intended it to mean that the wealthy could not and should not pay more.

[Captain Zero]

61. But they make most of the INCOME

What percentage of total income do those groups make? It should be shown alongside of your numbers.

[uponit7771]

68. +1, ... and don't pay full taxes on stocks given as compensation

[Zeitghost]

74. You are correct

But paying more in capital gains would only increase their % of the total taxes collected.

AND TO MAKE THINGS CLEAR TO THOSE WHO MISSED IT LAST TIME:
That does not mean I believe they shouldn't pay more.

[Zeitghost]

73. Right

That's why they pay more. I was simply stating facts and made my opinion that they could and should pay even more.

[Emile]

76. Paying 40% of all income tax collected? If that's true

they could afford to pay all income tax for everyone and still live in luxury.

[uponit7771]

56. THANK YOU !!! The rich must pay taxes on realized stock **FROM COMPENSATION** at the same

... rate as everyone else

[Dyedinthewoolliberal]

6. Also, we need to cut the bloated budget of the Pentagon.

The sacred cow of budget allocations.........

[BeckyDem]

11. It's obscene.

We could do a lot of good with that money.

[gratuitous]

25. Not only do a lot of good

We could actually enhance our national security by spending that money on something other than the military. But a secure citizenry, fed, clothed, and housed, isn't in the interest of certain very powerful persons and their business concerns.

[BeckyDem]

28. +1

You've written two responses in this thread and they really could be OP's on their own.

[Alexander Of Assyria]

26. National security would be better served by rerouting the Pentagon's runaway spending into

domestic spending that would unite the country in prosperity by modernization, refocusing on world economic changes, and reconstruction.

The Pentagon's sacred cow budget is a national security risk…is that why it is never discussed?

[ck4829]

49. Indeed

[AllaN01Bear]

7. good on aoc.

late mom would say this about the rs. they cheat , lie steal. distract and go sputter sputt sputt ( like an piston airplane having problems) i am adding , change the rules in mid stream.

[CrispyQ]

13. If we raised taxes on the richest people in the country,

they'd still be the richest people in the country.

The right calls us the tax & spend democrats. Where's our counter, the tax CUT & spend republicans?

The right defines our side better than we do ourselves. We need a dammed marketing department, stat!

[BeckyDem]

15. Yes, especially when you look at poverty rates and the states that need federal assistance.

They're failures over and over again.

[keep_left]

16. A couple of counter-memes come to mind.

Borrow and spend. Steal and spend.

That's for starters, anyway.

[Dave says]

41. Excellent!

[Quanto Magnus]

17. The GQP is the political manifestation

of a 'deadbeat dad' who skips paying Alimony/child support, then tries to blame the other party for the problems.....

[ck4829]

50. +1

[Uncle Joe]

19. Kicked and recommended.

Thanks for the thread BeckyDem

[kimbutgar]

20. I really think the GOP wants to default on the so it crashes the economy.

Then They can blame President Biden and then move toward overthrowing the government in a soft coup backed by their billionaire donors. With their maggot leader calling the shots behind the scenes. Who benefits from the USA collapsing? Russia and China. Who loves the orange maggot ? These same countries.

[ck4829]

48. Yep, a notch on their belt

[NoMoreRepugs]

21. Kevin McCarthy, the original limp noodle.

[RainCaster]

24. McCarthy has to pull his head out of his ass

it's as simple as that.

[LiberalArkie]

22. Congress people should be public servants enough to work for minimum wage.

[Evolve Dammit]

27. A serious point. "They got the gold mine, we got the shaft." Jerry Reid RIP

[LiberalFighter]

29. Especially if the yacht or private jet were manufactured outside of the USA?

[AmBlue]

31. Or repeal the $3T tax giveaway for the uber-wealthy

Signed into law by their lord and savior, the Orange Pussbag?

Why does THIS not bother them? Nary a care when their guy is running up the deficit!! They are such hypicrites.

[Merlot]

32. Don't accept the republican framing - it's NOT true that Washington needs to spend less

When democrats agree with republican framing of issues, they loose the true narrative.

[Alexander Of Assyria]

63. Want to spend less?...lift the sacred cow discussion ban on the military?? Really, wtf why??

[Johonny]

33. The debt ceiling has nothing to do with spending

It has to do with paying the bills for money Congress already allocated. Kevin is dishonest.

[NowISeetheLight]

34. Negotiation

As part of the “negotiation” process the Biden administration should require McCarthy to explain why they passed the increase for Trump three times yet suddenly are now concerned about the debt. Do a live interview and ask them on TV. It would be a real deer in the headlights moment.

[calimary]

35. Works for me! Let the rich help pay for it, too.

They’re most easily able to afford to, aren’t they?

[ck4829]

47. Yep!

[questionseverything]

37. Aoc hits the nail on the head again!

[kacekwl]

39. THIS is the start of any

negotiations with the pukes. Then the second response and the third and so on. Fuck your negotiations and bullshit cuts. It's their move President Biden don't budge an inch.

[mucifer]

44. The press REFUSES to report on this

I wonder why

[ck4829]

46. What a tricky one, tricky one indeed

[Alexander Of Assyria]

62. SCOTUS gets free stuff...if you abandon truth and ethics, so why not corporate media??

[ck4829]

45. K&R

[no_hypocrisy]

51. The tax break should be TEMPORARY, NOT PERMANENT

[GPV]

59. Go AOC!

[Oneironaut]

64. It's because Legacy brats who have never worked are creating jobs, somehow.

It’s magic!

[world wide wally]

66. Every member of the GOP is "ruthlessly political" and we are handicapped by a

sense of fairness and cooperation. EVERYTHING they do is for strictly political purposes. E V E R Y T H I N G !

[NowISeetheLight]

69. I Didn't Know

I didn’t know a lot about the tax breaks for jets and yachts so I googled it. I found this article. All I can say is “wow”.

https://www.propublica.org/article/private-jets-yachts-wealthy-tax-deductions-irs-files

[Zeitghost]

79. It's clickbait headlines designed to elicit an emotional response

Accelerated depreciation schedules on large capital expenditures for businesses is normal, but it sounds a lot more exciting when you focus on yachts and jets and make them sound like personal tax deductions.

[KPN]

70. Every Democrat in the House and Senate ought to be

saying this … over and over and over and over. That’s exactly what the Rs do and their words ultimately find their way into the MSM. We should do the same.

[Blue Owl]

71. K&R