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  1. #1
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    Republican Economics Are a Sham (Or the 1% Don't Need Tax Breaks)

    Thomas Piketty Calls Out Republican ‘Hypocrisy’ On Income Inequality

    http://www.huffingtonpost.com/2015/0...n_6848718.html

    “There’s a lot of hypocrisy in this conservative rhetoric about the skill gap and education gap,” Piketty said. “If they are really serious about the skill gap and the education gap, then they cannot at the same time cut tax on the rich.”


    America’s Wealth Gap ‘Unsustainable’ According To Harvard Study (2014)

    http://www.huffingtonpost.com/2014/0...n_5783550.html

    "The widening gap between America’s wealthiest and its middle and lower classes is “unsustainable”, but is unlikely to improve any time soon, according to a Harvard Business School study released on Monday."


    The 1 Chart That Reveals Just How Grossly Unfair The U.S. Tax System Has Become

    http://www.huffingtonpost.com/2013/0...n_3321737.html

    "Update: This chart of course does not reflect the fact that employers typically cover half of the payroll taxes collected by the government. Assuming companies pay half of the payroll taxes in this chart, the total tax burden for individual Americans is reduced to about 63 percent of total federal revenue, instead of 81 percent, as I estimated in an earlier version of this story. But that is up from about 45 percent in 1950."


    High-income Americans pay most income taxes, but enough to be ‘fair’?

    http://www.pewresearch.org/fact-tank...gh-to-be-fair/

    "Since the 1970s, the segment of federal revenues that has grown the most is the payroll tax – those line items on your pay stub that go to pay for Social Security and Medicare. For most people, in fact, payroll taxes take a bigger bite out of their paycheck than federal income tax. Why? The 6.2% Social Security withholding tax only applies to wages up to $118,500. For example, a worker earning $40,000 will pay $2,480 (6.2%) in Social Security tax, but an executive earning $400,000 will pay $7,347 (6.2% of $118,500), for an effective rate of just 1.8%. By contrast, the 1.45% Medicare tax has no upper limit, and in fact high earners pay an extra 0.9%."

    Key points of the Trump budget demonstrate that none of these factors are taken into account. On the contrary, they are completely ignored.

  2. #2
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  3. #3
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    14 Things The GOP Gets Totally Wrong About Poverty

    http://www.huffingtonpost.com/2014/0...tml?ref=topbar

    "1. The ‘War On Poverty’ was lost.

    Just like Ronald Reagan before him, this month Marco Rubio declared: “The ‘War On Poverty’ has been lost.” But that’s not true. While poverty is still at epidemic levels, the supplemental poverty rate (the most complete measure of poverty, according to most experts) has fallen significantly in the last few decades, largely thanks to government welfare programs."

  4. #4
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    Didn't the war on poverty turn into the war on the poor?

  5. #5
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    Quote Originally Posted by elfie View Post
    14 Things The GOP Gets Totally Wrong About Poverty

    http://www.huffingtonpost.com/2014/0...tml?ref=topbar

    "1. The ‘War On Poverty’ was lost.

    Just like Ronald Reagan before him, this month Marco Rubio declared: “The ‘War On Poverty’ has been lost.” But that’s not true. While poverty is still at epidemic levels, the supplemental poverty rate (the most complete measure of poverty, according to most experts) has fallen significantly in the last few decades, largely thanks to government welfare programs."
    I wonder if people understand how rich the 1% are. Many people think a millionaire is rich. A millionaire is nothing nowadays

  6. #6
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    Sep 2008
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    The report that blows the lid off of supply side economics. Republicans did their level best to bury it since it demonstrates no correlation between tax breaks for the wealthy, and an uptick in the economy. Within a month of it being published the GOP had it removed from the congressional website.

    CRS Report for Congress
    Prepared for Members and Committees of Congress
    Taxes and the Economy: An Economic
    Analysis of the Top Tax Rates Since 1945


    https://www.dpcc.senate.gov/files/do...op%20Rates.pdf



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