If approximately 50% of the population doesn't pay federal taxes - why are you upset that those that do pay taxes end up paying a little less but are still paying taxes?

Are you giving Trump credit for the money cannon?

Stop that old line, it is dishonestly omitting the full picture. Consider full tax load.[/quote

That is exactly what you just did.

I was responding to tax breaks.

What other tax breaks do the "rich" get?

We all pay the same real estate taxes, sales tax, property tax, car tax.

1970's. Was a wonderful time to be in your 20's. Jobs were plentiful, housing was cheap, attitudes were laid back. You could graduate from university with very little debt. Manufacturing was booming at home. I'd do it again. The demographics and technology of the time were the factors which made the 1970's so prosperous. So glad I'm not in my 20's nowadays.

Wasn’t the vote almost 100% bipartisan? I personally think the next couple trillion they plan to spend should be delayed until after the election. I would rather see the candidates campaign on the issue so that the voters get a say.

However, having said that, I think Trump has done a terrible job of putting forth a fiscally conservative agenda. I hoped he would make more of an effort to cut government spending and reduce the size of government.

Wasn’t the vote almost 100% bipartisan? I personally think the next couple trillion they plan to spend should be delayed until after the election. I would rather see the candidates campaign on the issue so that the voters get a say.

However, having said that, I think Trump has done a terrible job of putting forth a fiscally conservative agenda. I hoped he would make more of an effort to cut government spending and reduce the size of government.

If approximately 50% of the population doesn't pay federal taxes...

What other tax breaks do the "rich" get?

We all pay the same real estate taxes, sales tax, property tax, car tax.

Poor people pay much more in sales tax as a percentage of their income, since a greater percentage of their income goes to necessities.

Not true - If you are poor, most of your income goes to food, clothing and rent. None of which are taxable in a lot of states.

Similarly, since payroll taxes are capped, the very wealthy pay a much lower percentage in payroll tax.

Probably not given your comments below that the very wealthy don't collect much "payroll". However, the guy making 200k does pay a lower % than the guy making 50k, but not to offset the higher income tax rate on the payroll


People who live on investment earnings pay 0% in payroll tax, and pay lower percentages in long capital gains than normal income rates.

True, but not a fair comparison. Capital gains is 20%. Income tax rate for MFJ on income less than 78k is 12%. I think we can probably agree 78k is not poor.

But your statement is true - the Capital gains of 20% is 12% lower than the income for MFJ up to 400k

The estate tax has virtually disappeared, yet capital gains taxes can be reset, such that taxes are completely avoided on any earnings as it passes down a generation.

You can't pick your parents.

I get a $500k exclusion on capital gains if I sell my house.

Great. So does anyone else, but the very wealthy buy houses that probably have much larger swings in capital gains, so this actually hurt the mega wealthy,

Now, property taxes are only piad by property owners, but landlaords merely pass on these costs to tenants, who ultimately bear the cost of those taxes.

No - the market determines the rate you can get on your rental. It’s has nothing to do with your cost

Likewise tariffs are taxes borne by consumers, as they get passed.on by companies.

Only if the customer is willing to pay.

Finally, throw in the propping up of asset values as government policy and you have a major indirect subsidy, which has elevated my portfolio for many years. These are some of the reasons why the wealth of multi-millionaires has risen so spectacularly while most folks have languished..

What was the best economical time that you lived through?

Who was president and what did they do to make the economy so great?

Poor people pay much more in sales tax as a percentage of their income, since a greater percentage of their income goes to necessities.

Similarly, since payroll taxes are capped, the very wealthy pay a much lower percentage in payroll tax.

People who live on investment earnings pay 0% in payroll tax, and pay lower percentages in long capital gains than normal income rates. The estate tax has virtually disappeared, yet capital gains taxes can be reset, such that taxes are completely avoided on any earnings as it passes down a generation. I get a $500K exclusion on capital gains if I sell my house.