Quote:

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In theory, the proposition seems foolproof: Everyone hates the taxman and loves to keep their money, so a tax cut must be politically popular.

But Republicans' One Big Beautiful Bill Act has tested the theory and found it wanting. A new Wall Street Journal poll shows that more than half of Americans oppose the law, which cuts taxes for many Americans while reducing government spending. That result is in line with other polling. The data journalist G. Elliott Morris notes that only one major piece of legislation enacted since 1990 was nearly so unpopular: the 2017 tax cuts signed by President Donald Trump.

The response to the 2017 cuts was fascinating. Americans grasped that the wealthy would benefit most from the law, but surveys showed that large swathes of the population incorrectly believed that they would not get a break. "If we can't sell this to the American people then we should be in another line of work," Senate Majority Leader Mitch McConnell said at the time. Americans agreed, giving Democrats control of the House a year later.

If tax cuts are no longer political winners, that's a major shift in American politics. McConnell's sentiment reflected the orthodoxy in both parties for more than four decades. Ronald Reagan won the presidency in 1980 by promising to cut taxes, which he didin both 1981 and 1986. The first cut was broadly popular; the second had plurality support. His successor, George H. W. Bush, told voters while campaigning, "Read my lips: no new taxes," and his eventual assent to tax hikes while in office was blamed in part for his 1992 defeat. The next GOP presidenthis son, George W.made popular tax cuts. Democrats Bill Clinton and Barack Obama were careful to back higher income taxes only on the wealthy.

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Nitro Power said:

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Flat tax rate for everyone or do away with income tax and go to a straight sales tax

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Francis Macomber said:

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Quote:

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In theory, the proposition seems foolproof: Everyone hates the taxman and loves to keep their money, so a tax cut must be politically popular.

But Republicans' One Big Beautiful Bill Act has tested the theory and found it wanting. A new Wall Street Journal poll shows that more than half of Americans oppose the law, which cuts taxes for many Americans while reducing government spending. That result is in line with other polling. The data journalist G. Elliott Morris notes that only one major piece of legislation enacted since 1990 was nearly so unpopular: the 2017 tax cuts signed by President Donald Trump.

The response to the 2017 cuts was fascinating. Americans grasped that the wealthy would benefit most from the law, but surveys showed that large swathes of the population incorrectly believed that they would not get a break. "If we can't sell this to the American people then we should be in another line of work," Senate Majority Leader Mitch McConnell said at the time. Americans agreed, giving Democrats control of the House a year later.

If tax cuts are no longer political winners, that's a major shift in American politics. McConnell's sentiment reflected the orthodoxy in both parties for more than four decades. Ronald Reagan won the presidency in 1980 by promising to cut taxes, which he didin both 1981 and 1986. The first cut was broadly popular; the second had plurality support. His successor, George H. W. Bush, told voters while campaigning, "Read my lips: no new taxes," and his eventual assent to tax hikes while in office was blamed in part for his 1992 defeat. The next GOP presidenthis son, George W.made popular tax cuts. Democrats Bill Clinton and Barack Obama were careful to back higher income taxes only on the wealthy.

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https://www.theatlantic.com/newsletters/archive/2025/07/tax-bill-cuts/683703/?gift=Y4b-QVtwP1iFbBVgbf3hfTzBIwl80TAFCQzPpPWNcFI

My only comment is that it is ridiculous that somebody making $600k a year is paying the same tax rate as Elon Musk. I do not think we should rase rates for majority of people, but once you breach $100 million you should pay a significantly higher rate than the rest of us.

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Francis Macomber said:

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Quote:

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In theory, the proposition seems foolproof: Everyone hates the taxman and loves to keep their money, so a tax cut must be politically popular.

But Republicans' One Big Beautiful Bill Act has tested the theory and found it wanting. A new Wall Street Journal poll shows that more than half of Americans oppose the law, which cuts taxes for many Americans while reducing government spending. That result is in line with other polling. The data journalist G. Elliott Morris notes that only one major piece of legislation enacted since 1990 was nearly so unpopular: the 2017 tax cuts signed by President Donald Trump.

The response to the 2017 cuts was fascinating. Americans grasped that the wealthy would benefit most from the law, but surveys showed that large swathes of the population incorrectly believed that they would not get a break. "If we can't sell this to the American people then we should be in another line of work," Senate Majority Leader Mitch McConnell said at the time. Americans agreed, giving Democrats control of the House a year later.

If tax cuts are no longer political winners, that's a major shift in American politics. McConnell's sentiment reflected the orthodoxy in both parties for more than four decades. Ronald Reagan won the presidency in 1980 by promising to cut taxes, which he didin both 1981 and 1986. The first cut was broadly popular; the second had plurality support. His successor, George H. W. Bush, told voters while campaigning, "Read my lips: no new taxes," and his eventual assent to tax hikes while in office was blamed in part for his 1992 defeat. The next GOP presidenthis son, George W.made popular tax cuts. Democrats Bill Clinton and Barack Obama were careful to back higher income taxes only on the wealthy.

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https://www.theatlantic.com/newsletters/archive/2025/07/tax-bill-cuts/683703/?gift=Y4b-QVtwP1iFbBVgbf3hfTzBIwl80TAFCQzPpPWNcFI

My only comment is that it is ridiculous that somebody making $600k a year is paying the same tax rate as Elon Musk. I do not think we should rase rates for majority of people, but once you breach $100 million you should pay a significantly higher rate than the rest of us.

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Quote:

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but once you breach $100 million you should pay a significantly higher rate than the rest of us.

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Francis Macomber said:

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Quote:

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In theory, the proposition seems foolproof: Everyone hates the taxman and loves to keep their money, so a tax cut must be politically popular.

But Republicans' One Big Beautiful Bill Act has tested the theory and found it wanting. A new Wall Street Journal poll shows that more than half of Americans oppose the law, which cuts taxes for many Americans while reducing government spending. That result is in line with other polling. The data journalist G. Elliott Morris notes that only one major piece of legislation enacted since 1990 was nearly so unpopular: the 2017 tax cuts signed by President Donald Trump.

The response to the 2017 cuts was fascinating. Americans grasped that the wealthy would benefit most from the law, but surveys showed that large swathes of the population incorrectly believed that they would not get a break. "If we can't sell this to the American people then we should be in another line of work," Senate Majority Leader Mitch McConnell said at the time. Americans agreed, giving Democrats control of the House a year later.

If tax cuts are no longer political winners, that's a major shift in American politics. McConnell's sentiment reflected the orthodoxy in both parties for more than four decades. Ronald Reagan won the presidency in 1980 by promising to cut taxes, which he didin both 1981 and 1986. The first cut was broadly popular; the second had plurality support. His successor, George H. W. Bush, told voters while campaigning, "Read my lips: no new taxes," and his eventual assent to tax hikes while in office was blamed in part for his 1992 defeat. The next GOP presidenthis son, George W.made popular tax cuts. Democrats Bill Clinton and Barack Obama were careful to back higher income taxes only on the wealthy.

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https://www.theatlantic.com/newsletters/archive/2025/07/tax-bill-cuts/683703/?gift=Y4b-QVtwP1iFbBVgbf3hfTzBIwl80TAFCQzPpPWNcFI

My only comment is that it is ridiculous that somebody making $600k a year is paying the same tax rate as Elon Musk. I do not think we should rase rates for majority of people, but once you breach $100 million you should pay a significantly higher rate than the rest of us.

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Superfreak said:

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Yeah except someone making $600000 AGI is not paying the same rate as an Elon musk. Why are effective tax rates so hard for people to understand?

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Francis Macomber said:

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Quote:

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In theory, the proposition seems foolproof: Everyone hates the taxman and loves to keep their money, so a tax cut must be politically popular.

But Republicans' One Big Beautiful Bill Act has tested the theory and found it wanting. A new Wall Street Journal poll shows that more than half of Americans oppose the law, which cuts taxes for many Americans while reducing government spending. That result is in line with other polling. The data journalist G. Elliott Morris notes that only one major piece of legislation enacted since 1990 was nearly so unpopular: the 2017 tax cuts signed by President Donald Trump.

The response to the 2017 cuts was fascinating. Americans grasped that the wealthy would benefit most from the law, but surveys showed that large swathes of the population incorrectly believed that they would not get a break. "If we can't sell this to the American people then we should be in another line of work," Senate Majority Leader Mitch McConnell said at the time. Americans agreed, giving Democrats control of the House a year later.

If tax cuts are no longer political winners, that's a major shift in American politics. McConnell's sentiment reflected the orthodoxy in both parties for more than four decades. Ronald Reagan won the presidency in 1980 by promising to cut taxes, which he didin both 1981 and 1986. The first cut was broadly popular; the second had plurality support. His successor, George H. W. Bush, told voters while campaigning, "Read my lips: no new taxes," and his eventual assent to tax hikes while in office was blamed in part for his 1992 defeat. The next GOP presidenthis son, George W.made popular tax cuts. Democrats Bill Clinton and Barack Obama were careful to back higher income taxes only on the wealthy.

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https://www.theatlantic.com/newsletters/archive/2025/07/tax-bill-cuts/683703/?gift=Y4b-QVtwP1iFbBVgbf3hfTzBIwl80TAFCQzPpPWNcFI

My only comment is that it is ridiculous that somebody making $600k a year is paying the same tax rate as Elon Musk. I do not think we should rase rates for majority of people, but once you breach $100 million you should pay a significantly higher rate than the rest of us.

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Francis Macomber said:

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Loren Visser said:

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Francis Macomber said:

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Quote:

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In theory, the proposition seems foolproof: Everyone hates the taxman and loves to keep their money, so a tax cut must be politically popular.

But Republicans' One Big Beautiful Bill Act has tested the theory and found it wanting. A new Wall Street Journal poll shows that more than half of Americans oppose the law, which cuts taxes for many Americans while reducing government spending. That result is in line with other polling. The data journalist G. Elliott Morris notes that only one major piece of legislation enacted since 1990 was nearly so unpopular: the 2017 tax cuts signed by President Donald Trump.

The response to the 2017 cuts was fascinating. Americans grasped that the wealthy would benefit most from the law, but surveys showed that large swathes of the population incorrectly believed that they would not get a break. "If we can't sell this to the American people then we should be in another line of work," Senate Majority Leader Mitch McConnell said at the time. Americans agreed, giving Democrats control of the House a year later.

If tax cuts are no longer political winners, that's a major shift in American politics. McConnell's sentiment reflected the orthodoxy in both parties for more than four decades. Ronald Reagan won the presidency in 1980 by promising to cut taxes, which he didin both 1981 and 1986. The first cut was broadly popular; the second had plurality support. His successor, George H. W. Bush, told voters while campaigning, "Read my lips: no new taxes," and his eventual assent to tax hikes while in office was blamed in part for his 1992 defeat. The next GOP presidenthis son, George W.made popular tax cuts. Democrats Bill Clinton and Barack Obama were careful to back higher income taxes only on the wealthy.

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https://www.theatlantic.com/newsletters/archive/2025/07/tax-bill-cuts/683703/?gift=Y4b-QVtwP1iFbBVgbf3hfTzBIwl80TAFCQzPpPWNcFI

My only comment is that it is ridiculous that somebody making $600k a year is paying the same tax rate as Elon Musk. I do not think we should rase rates for majority of people, but once you breach $100 million you should pay a significantly higher rate than the rest of us.

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What rate should he pay on profits he hasn't recognized?

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60% or higher.

Honestly, I havent put a lot of thought into it, so do not hold me to it.

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Francis Macomber said:

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Loren Visser said:

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Francis Macomber said:

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Quote:

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In theory, the proposition seems foolproof: Everyone hates the taxman and loves to keep their money, so a tax cut must be politically popular.

But Republicans' One Big Beautiful Bill Act has tested the theory and found it wanting. A new Wall Street Journal poll shows that more than half of Americans oppose the law, which cuts taxes for many Americans while reducing government spending. That result is in line with other polling. The data journalist G. Elliott Morris notes that only one major piece of legislation enacted since 1990 was nearly so unpopular: the 2017 tax cuts signed by President Donald Trump.

The response to the 2017 cuts was fascinating. Americans grasped that the wealthy would benefit most from the law, but surveys showed that large swathes of the population incorrectly believed that they would not get a break. "If we can't sell this to the American people then we should be in another line of work," Senate Majority Leader Mitch McConnell said at the time. Americans agreed, giving Democrats control of the House a year later.

If tax cuts are no longer political winners, that's a major shift in American politics. McConnell's sentiment reflected the orthodoxy in both parties for more than four decades. Ronald Reagan won the presidency in 1980 by promising to cut taxes, which he didin both 1981 and 1986. The first cut was broadly popular; the second had plurality support. His successor, George H. W. Bush, told voters while campaigning, "Read my lips: no new taxes," and his eventual assent to tax hikes while in office was blamed in part for his 1992 defeat. The next GOP presidenthis son, George W.made popular tax cuts. Democrats Bill Clinton and Barack Obama were careful to back higher income taxes only on the wealthy.

---

https://www.theatlantic.com/newsletters/archive/2025/07/tax-bill-cuts/683703/?gift=Y4b-QVtwP1iFbBVgbf3hfTzBIwl80TAFCQzPpPWNcFI

My only comment is that it is ridiculous that somebody making $600k a year is paying the same tax rate as Elon Musk. I do not think we should rase rates for majority of people, but once you breach $100 million you should pay a significantly higher rate than the rest of us.

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What rate should he pay on profits he hasn't recognized?

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60% or higher.

Honestly, I havent put a lot of thought into it, so do not hold me to it.

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Francis Macomber said:

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rgag12 said:

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Ok, raise taxes broadly across the spectrum then. See if that gets you a "win" with the electorate.

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I do not want to raise them across the spectrum, i just want to raise them across those making $100 million or more a year.

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Francis Macomber said:

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the most cool guy said:

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Exactly nobody who pays taxes is souring on the idea of tax cuts. ****ing morons.

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I pay taxes in the top bracket. I absolutely hate Musk, Zuck, and Altman pay same percentage I do. Thats horse*****

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Francis Macomber said:

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Tom Fox said:

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Francis Macomber said:

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rgag12 said:

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Ok, raise taxes broadly across the spectrum then. See if that gets you a "win" with the electorate.

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I do not want to raise them across the spectrum, i just want to raise them across those making $100 million or more a year.

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You should pay the same rate as them. If that is 60% for you, then I respect that. See if you can get that passed. I am not paying 60%.

And the bottom earners have to start paying at least net 10%.

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I do not make $100m a year, do you?

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