Harris Plan Would Bring Tax Increases for Richest 1% and Cuts for the Bottom 99% | Common Dreams
Harris Plan Would Bring Tax Increases for Richest 1% and Cuts for the Bottom 99% | Common Dreams
"The contrast between Harris and Trump on taxation could not be more clear," said the executive director of the Institute on Taxation and Economic Policy.
Remember if you make under $400k you are poor.
If you rely on a wage whatsoever, you're closer to a peasant than a Capitalist
Why stop at 1%, though?
Because the top 1% really isn't that high and they hold 99% of the wealth. The other 99% of people hold 1% of the wealth. What do you think the annual income to be in the 1% is?
I'll put the rest of my response in a spoiler so you can think about it for a second, or comment it if you want, out of curiosity.
spoiler
Most people think the top 1% make millions of dollars annually from the conversations and surveys I've seen. The actual threshold for 1% varies by state, but in 2023, the national average was $652,657. While it is much higher than the average income of ~$37,500, it is not as high as most people think.
A third of the wealth, not 99%
Speaking in broad volumetric terms and then switching to simply stating (see: spoiler) the per annum floor for said 1% is sloppy and misleading. Please include the range that the 1% encompasses, earnings wise, to keep your modeling consistent.
The top 1% have about 42% of the wealth.
We desperately need tax on wealth.
Yes. All 1%ers have no income to tax.
The own billions, and pay nothing!
A tax cut for me is just a tax cut for me, but a tax cut for the rich could make anything happen -- maybe even a tax cut for me!
Liar.
It's a rewrite of the family guy joke
As nature intended.
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Can't tax income they don't have
Your house is taxed.. why are stock portfolios not taxed each year against their value on Jan 1st? Or median value over the year or something?