Are you ready for your taxes to go up?

[Notrealname]

No joke. Wealth of the top 1% is in excess of $35 trillion, add in the top 10% and it’s close to $75 trillion. No need to hit the savings of the unwealthy, aka just regular folks.

 

[kdonnel]

You may be joking, but this situation may hasten what's been gradually moving towards ripening for a long time. We're now reaching the point where the first large wave of people who are approaching retirement without traditional employer provided pensions are approaching retirement that will be largely funded via 401k retirement plans. It's only been a matter of time for the taxman to reach out and take an overly generous first bite of that juicy apple.

The government could take all retirement accounts and totally wipe the national debt with a few trillion left over! Everyone can just live off social security right? It would be extremely solvent at that point! Especially if is for the greater good?

 

[cabanafrau]

No joke. Wealth of the top 1% is in excess of $35 trillion, add in the top 10% and it’s close to $75 trillion. No need to hit the savings of the unwealthy, aka just regular folks.

Need? No. However the option to have the extremely wealthy be part of the solution will never be available. That wealth will buy the ability to evade payment every time.

 

[cabanafrau]

The government could take all retirement accounts and totally wipe the national debt with a few trillion left over! Everyone can just live off social security right? It would be extremely solvent at that point! Especially if is for the greater good?

I guess Once Upon a Time, in a world where They All Lived Happily Ever After.

Reality is a Galaxy Far, Far Away however.

 

[Snowysmom]

A tax increase is why I will be banking any stimulus check I get. I can just give it back to them.

 

[BuckeyeBama]

The government could take all retirement accounts and totally wipe the national debt with a few trillion left over! Everyone can just live off social security right? It would be extremely solvent at that point! Especially if is for the greater good?

Why do you keep saying this? Is this preferable to you over taxing the wealthy?

 

[kdonnel]

Why do you keep saying this? Is this preferable to you over taxing the wealthy?

I think it is a more likely scenario.

 

[godisney14]

Well, we did get a tax cut (greatly benefitting large corporations) in 2017 that is currently estimated to cost over $2 trillion when all is said and done. Maybe we can undo at least some of that first.

 

[Heather07438]

https://en.wikipedia.org/wiki/Robber_baron_(industrialist)
What do i know? Can't help but think that modern robber barons aren't pulling their weight in society and the average American gets to pay for it.

 

[BuckeyeBama]

I think it is a more likely scenario.

Both are exceedingly unlikely, but if the right things happen in November, who knows?

 

[Snowysmom]

I sure didn't get a tax cut in 2017. That is why I will save any money the government "gives" me. I just assume they will want it back at some point.

 

[Starwarsfan2]

I think that was a joke. Some news guy said it a while ago.

Also, smaller economy may be a poor choice of words. I have actually seen Open up the economy or Open up America. My point was neither the economy nor America are closed. Most are still working. Some businesses are closed. Yes, they need to reopen eventually but the economy (and America) are still open. We didn't close.

Brian Williams MSNBC

 

[MillauFr]

I think it is a more likely scenario.

Isn't the most likely scenario is that they will kick the can down the road again?

 

[mrodgers]

I sure didn't get a tax cut in 2017. That is why I will save any money the government "gives" me. I just assume they will want it back at some point.

Did you not get a tax cut or did you lose your subsidy from your State overtaxing you?

 

[tinkerdorabelle]

So, how do you explain the incredible growth with the relaxation of regulations? If anything we saw how too much regulation stifled the economy previously. I just don’t get how and why some people spend so much time focused on why things aren’t fair. Life isn’t fair. Momma told me. Go out there, work hard get the most out of life you can. Enjoy it. Eventually get sick and pass on. It’s life. You aren’t entitled to any guarantees no matter what some slippery politician on either side tells you.

Growth for who???? and what about our environment? Intelligent regulations, not over regulations. You think drug companies should charge you whatever they want mark up their prices just however high they want to go? Sigh

 

[tinkerdorabelle]

Did you not get a tax cut or did you lose your subsidy from your State overtaxing you?

We lost a whole lot of what we were able to write off. We get half what we used to back. And remember tax cuts for the wealthy aren't going to expire.

 

[spiders]

No joke. Wealth of the top 1% is in excess of $35 trillion, add in the top 10% and it’s close to $75 trillion. No need to hit the savings of the unwealthy, aka just regular folks.

According to the Wall Street Journal, it takes about $300,000 to be in the top 1%. It takes about $90,000 to be in the top 10%. I realize that everyone closes their eyes and imagines that the top 1% or now top 10% are flying private jets to their private islands but that isn't the case.

 

[BuckeyeBama]

According to the Wall Street Journal, it takes about $300,000 to be in the top 1%. It takes about $90,000 to be in the top 10%. I realize that everyone closes their eyes and imagines that the top 1% or now top 10% are flying private jets to their private islands but that isn't the case.

LOL - Really? First, those numbers are wrong. Second, we are talking about taxing wealth, not income.

 

[spiders]

LOL - Really? First, those numbers are wrong. Second, we are talking about taxing wealth, not income.

First...

https://graphics.wsj.com/what-percent/
Second, yes...I know. You want to tax money that has already been taxed.

I fully support taxing everything you own again. I too can be very generous when I'm spending someone else's money.

 

[TLSnell1981]

You mean....all of this ISN'T free?
Can't we discuss this tomorrow? Don't we have enough to worry over today?