Tom Fox said:
Francis Macomber said:
Texas Tea said:
Francis Macomber said:
Loren Visser said:
Francis Macomber said:
Quote:
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.
What rate should he pay on profits he hasn't recognized?
60% or higher.
Honestly, I havent put a lot of thought into it, so do not hold me to it.
Clearly
What is your thoughts on it? Should somebody making $1,000,000.00/year be taxed the same as Zuckerberg?
Absolutely the same rate. And I make right at that. Someone making $50k should also pay the same rate as me. Then as people with equal skin in the game can go to the ballot box and decide on the appropriate tax rate and what we should spend our money on. Because we are all paying for it.
Now obviously Zuck at 30% will pay significantly more than me in total just as I will pay more than the guys making $50k.
I can totally accept if Americans vote to pay 50% if we are all paying it. But the majority aren't really paying anything. It is Monopoly money to them.
Yeah, this doesn't seem very realistic to me. I have been poor as hell and fortunate enough to be in the upper tax bracket. 10%, 20%, 30%, etc is not the sa.e at < $100k a year as it is when you make more than $100k.
I pay >$100k in taxes and I am at the tiop bracket, and I think it is ridiculous we are letting people make enough money to start theie own country and they are getting g taxed at the same rate as me.