The economic reason why tax cuts for the rich are so stupid

You may have heard about democratic billionaire Tom Steyer who has been getting attention for starting an ad campaign calling for Trump's impeachment. I found a previous video from him arguing that tax cuts for the rich are not a solution. What are your thoughts on this short video?

 

A better way to describe evirmental wacko Tom would be to say he and his pac pumped millions of dollars into the last last few midterms and presudential election and lost almost every single race...

 

You are off topic. Please respond to the arguments in the video thank you.

 

No just clarying who Tom is for the audience, you could of said billionaire Tom with no bias in your op.

 

You are off topic. Please respond to the arguments in the video thank you.

 

With 46% paying no income taxes and the top 10% paying over 70%, any tax cut will be hollered as tax cuts for the rich. A standard dem complaint due to having to pay for all their freebies.

 

Not so. They could cut FICA taxes, the taxes that working middle/poorer class folks mostly pay. They rich pay only a tiny fraction of FICA taxes, as SS taxes aren't levied on income over $127k, and aren't levied at all on investment income.

But the concept of a real middle class tax cut isn't something the Republicans are interested it.

 

So a middle class tax cut isn't really a middle class tax cut. Liberal logic 101.

 

46% of the population earns barely anything and you wouldn't get very much from taxing them because the bottom 50% of earners earns only 12% of the nation's income and its already tough for them to squeeze in rent, healthcare, college, and retirement. The top 10% pay 68% of income taxes because they earn 51% of all income and keep in mind income taxes are only 1/3 of all taxes paid. 1/3 of all taxes is state and local and poorer and middle class people pay higher percentages on them because these taxes like sales, property, sin, and gas taxes tend to hit lower income people more as a percentage of income. Also the social security taxes falls more on the middle class as a percentage since it has a max limit. The picture you are painting isn't very accurate.

 

So cutting income taxes half the folks don't pay is a tax cut. Conservative logic 101.

Not to mention non-responsive.

 

I am middle class. Please cut my income taxes in half.

 

If you're middle class, chances are cutting your income taxes in half would amount to peanuts, if anything at all.

For the m/billionaires like donald, on the other hand ...

 

You call peanuts a new boat, a new shot gun, a new atv, a trip to Spain?

He'll getting rid of Obama care gives me the money saved to do that.

 

If you're middle class, chances are your income tax reduction, if you paid anything at all to begin with, won't be anywhere near enough for those things.

The vast bulk of the middle classes pay very little in income taxes, if they pay anything at all.

If you're middle class, your income taxes didn't increase at all because of Obamacare.

However, he'll sure run up the deficit and debt to give huge tax cuts to m/billionaires, like himself.

Remember when conservative pretended they cared about the deficit and debt?

 

Your changing the goal post, you insulted us middle class guys by saying if you cut in half our taxes it's peanunts...its not to us..

 

I'm not sure how you figure that is an insult, but mischaracterizing another's post is intellectually dishonest. That is not what I said.

 

I could buy a lot of new toys and take a third vacation if my taxes was cut in half , all of us in the middle class could.

 

You posted this not me a total insult saying if you cut our taxes by half it's peanuts..an extra $5000 Or what ever it is , would make me happy

 

According to the conservative press, the top 20% pay 95% of the income taxes: http://www.politicalforum.com/index...e-class-single-digits.517487/#post-1068183033

You're going to have a hard time arguing that cutting income taxes is going to have this "trip to Spain" effect on most middle class earners.

 

See post above.

This is RW propaganda and in insult to the middle class, most of whom pay little if any income taxes and will derive little is any benefit from income tax cuts.

Though m/billionaires like donald will benefit hugely.

 

Huh? Another pure insult to us in the middle class , so now we pay little or no income taxes?

*******n I read my pay stubs, a third of my money is taken out , for taxes, Obama care and all the rest

 

All of us know in the working world getting paid by the hour , it's not worth it to work over around 55 hours a week, because your just getting like $4 bucks an hour and the rest goes to taxes

 

The vast bulk of middle class workers don't pay anything near $10,000 in income taxes, if they pay any income taxes at all.

For example, a family of 4 making $50,000 or less in income isn't paying a dime in income taxes.

 

You're insulting the middle class by misrepresenting the amount of income tax most of them pay to justify massive tax cuts for m/billionaires.

Standard conservative MO.

 

Anyone can say anything on the internet.

According to the conservative press, the top 20% pay 95% of income taxes:
http://www.politicalforum.com/index...e-class-single-digits.517487/#post-1068183033

You're going to have a hard time arguing that cutting income taxes is going to have this "trip to Spain" effect on most middle class earners you insult to justify tax cuts for m/billionaires.