An investor called $140,000 the new poverty line. Experts disagreed but said he had a point.

[Grins]

53. "It's laughable to put a poverty line far above the median income in the United States."

Not if the median income is so low!

Been saying it for years. It's not that Americans are taxed too much, as conservatives and weasels like Kudlow, Norquist, and Moore have said for years - it's that American DON'T MAKE ENOUGH MONEY! We don't have a "revenue problem;" we have an income problem.

In 2012 Mitt Romney got caught on an audio recording whining that 47% of Americans "...are people who pay no income tax." And he was right! (Forgetting that they still pay payroll taxes, state and local, sales taxes, and gas and property taxes.)

What he should have taken from that conservative bull-shittery is that 47% of Americans don't make enough money to pay any taxes! Even at the lowest 10% bracket! Their adjusted gross income was so low that more than half had incomes less than $16,812 so they didn't have to pay taxes. So said the government that created the tax tables and determined the poverty levels!

I don't think Romney is stupid. The man from Bain Capital just didn't want to pay "those people."

Did Romney argue against the 2001, 2003, 2017, and 2025 Republican tax cuts...? It is to laugh....

Piling on...
Commenting on the 2017 tax cut bill on 11 June 2019

Host: You have acknowledged that the Tax Cut and Jobs Act doesn't fully pay for itself. What percent do you think is paid for?

Rep. Kevin Brady (R-Tex.): “It's so hard to know. We will know in year 8, 9, or 10, what revenues it brought in to the government over time. So it’s way too early to tell."

Rep. Kevin Brady (R-Tex.), lead architect of the GOP tax bill, saying the GOP's tax cut bill will not fully pay for itself! Exactly the opposite what Republicans - including Brady - repeatedly said while pushing that law in late 2017; i.e., they lied.