0 sats \ 2 replies \ @Bell_curve 21 Oct \ parent \ on: Trump Tax Plans Could Exempt 93 Million Americans From Income Taxes news
Because of exemptions and deductions in a graduated income tax system, almost half of the country does not pay income tax.
Should Mitt Romney have said 93 million instead of 47 percent?
harsh truth: 47 percent of the country consists of parasites
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21 sats \ 1 reply \ @Cje95 OP 22 Oct
Not sure where what Rome ey has to do with this? His name isn’t mentioned at all?
Also the 47% point is a myth… it just isn’t true. Social security taxes are income taxes and you can’t get out of them.
https://www.brookings.edu/articles/five-myths-about-the-47-percent/
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0 sats \ 0 replies \ @Bell_curve 22 Oct
47 percent is a reference to 2012 campaign. A bad joke.
Social Security and Medicare taxes are deducted from income but counted separately
Edit: 47 percent refers to federal income tax only
Brookings presents zero relevant statistics 📊 or figures or quantitative evidence to debunk the myth of 47 percent
If your income is below 40,000 bucks you will not pay any income tax. Maybe it’s 35,000. I forget the threshold.
I have heard other economists echo 47 percent or almost half.
The solution is a flat tax of 19 percent or the highest bracket should be 25 percent
Eliminate payroll taxes. Privatization of social security and Medicare. Eliminate Medicaid which is a handout for parasites
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