He said several times "you're taking money away from the government and taking money away from services that are being delivered to the American people." Our tax dollars are being WAISTED by the government, especially in CA and given to people (many illegal) who have never contributed. I love CA (my family's home for 5 generations) but I'm embarrassed by what's happened to my state. I'm looking forward to seeing and experiencing good results from this tax cut, and I'm not rich by any means.
While doing cursory research for this I noticed the new IRS website under Trump seems to only provide tax forms for 2015 and 2016. [If one looks real hard there is a link to another site that provides forms between 1001 and 2011, but not since.] The Obama IRS site version had forms going back to the earliest years of the national income tax, most of which I have on file but in storage. Something similar happened in Federal Research files under Bush II. Under Clinton there were stats that allowed modelling of market trends that could predict a crash. When Bush took office the key figures disappeared from the tables just after his first inauguration, only to return again when Obama took office. Bet their gone again. -------- As I suspected, the Republican tax bill played a shell game on deductions. Here's how it works. This needs closer inspection once the tax forms and new code settle. Your deductions comes off your taxable income. Your exemption comes off your gross income before taxes start. Gross income less exemptions equals taxable income. You pay taxes on your taxable income, but that gets reduced by your deductions. The exemption is pretty much fixed. It generally doesn't get modified much. Deductions get modified downward much more frequently by the tax code. For the bottom tax margin, 10 percent, the combined deduction and exemption for 2017 would have likely been around $10,400 ($10,350 in 2016, $10,300 in 2015, and $9.350 in 2010). Between $6,000 and $7,000 of the combines reduction would be the standard deduction. The rest is the exemption. So the Republicans say, "we're going to save you money by doubling the $6,000 deduction to $12,000!" (in 2016 the deduction was $6300, which would double to $12,600 for that year, and closer to $12,700 for 2017, but let's not quibble when being short changed.) The Republicans then eliminate the tax exemption, so your taxes now start at your first dollar's income instead of after $5,000 or $6,000. The result is your tax break is $12,000 instead of about $10,400, but your paying the same margin on MORE INCOME. Ten percent of $5,000 is $500. The net savings from deductions and credits is $1600. Without the deduction coming from taxable income your taxes just increased $240. With the deduction, if applied to taxable income before taxes are calculated, your taxes were reduced $16. $16 in reality instead of around $6,000 claimed. Isn't it nice to have Republican's looking after you? They say they increased your deduction by $6000 but you really only saved $16 in taxes, plus loosing thousands in healthcare and other support. Still, this all depends on other complications in the tax code, and there may in fact be NO tax savings rather than a pittance balanced against huge support losses.
Roger Lucas, the ACA that the Democrats passed our tax bill went up 30% because the taxes or whatever you want to call it cost 15,000 dollars for health insurance while premiums and deductibles when up. I will get a little bit of money while the Democrats only wants to take my money.
They hate Trump so much that they can’t see straight. I am going to save 2000 a year, that will help me and businesses because I will invest some and spend some. That is economics 101.
Companies are already flushed in cash! They are buying back their own stock or off shoring their money! They have been doing well for over 7 years! How is giving them more tax money going to spur job growth???
Robin hood stole from the rich monarchs(government) because they over taxed. So reverse would be the gov stealing from the poor. Second this legislation gives tax breaks to almost all Americans for 10 years(unless renewed), states with high property taxes in Cali or NY will see a tax increase because Intrest write offs are capped much lower. Also talking points target "huge corporations" as greedy and in some cases are correct. Because the corps have little competition like Google(bing lol f that) but these cuts are universal across all business even the small allowing them to charge less for product or hire more people or pay more ECT.
lol, how about doing some homework yourself. I/we can listen to assumptions all day long. Of course Democrats don't want a stronger economy going into the future. Now there's a fact.
+k hill: That's Trump and the corrupt, thieving, bought-and-paid-for Republican Congress Crooks actually. They're the ones taking money from the government's MediCare, Medicaid, Children's Fund, future generations saddled with $TRILLIONS of budget DEFICIT just to give to themselves and their fellow rich clonies-donors. This is money being taken from existing programs to finance the ALREADY WEALTHY. This will increase the burden for the rest of us with no added funds to pay for the infrastructure and other much needed services. Reverse ROBIN HOOD indeed!
I am genuinely trying to understand, what is the reason you or perhaps others would need him to run as an independent? If you agree with him and his political ideology why would his party affiliation keep you from voting for him? I am a lifelong Democrat but voted for Trump in 2016 because HRC and the DNC's underhanded campaign tactics made it impossible to trust them. There would be no need for debates and research if everyone feels obligated to vote according to party affiliation instead of voting based on independent and critical consideration of the pros & cons of every possible option available.
Hope this guy runs in 2020! He is great to demand the impeachment of Trump! More power to him. He has lots of cash, and he is doing good things with it.
I get so tired of interviewers interrupting interviewees! I do not want to try to listen to two people at the same time; I literally can't do it. So the video is useless to me. Morning Joe's Joe is the worst ever in this respect.
i dont know much about tom steyer.. but at least hes got my vote if he runs... just the fact that his way of thinking is the same as me. If my boss got huge raise.. i highly doubt i would get a small cake out of it.
GOP says well we are gonna recoup the trillion 1/2 thru the economy. Man really! Like Tom said, take the money away someone suffers. And Companies spending the extra money is a gamble. Demand for goods drives a company to hire. I hope people making 3-400 thousand a year don’t think there rich.
He’s absolutely lying about the tax plan. “The vast bulk of the break goes to rich people” but rich people pay 99% of total taxes. Taxes on the rich in NY and California will be higher if anything! This guy made his billions from coal. Read about him.
will he keep his rich tax break or will he give 41%. he is a billionaire, he did nt get that way worrying about the middle class. he spent years bleeding the middle class. he is not a friend of the middle class. time will tell the truth about this mega ego.
If all the money and richest of these corporation put the money where should be going. Like profit sharing check and increase wages, this country will not have any poor. And give to education, so no more tuition can apply. This Country then will be the most prosperous and rich and powerful in the world. We need to invest in infrastructure, roads, etc. that create jobs.
The general elect wants us to lower our govt standards ?!.. that is the answer. Theres an idea .. "does anyone want to lower thier standard." That isnt healthy.. thakethat ball and run with it.. number 5
Goldman CEO Blankfein has 'really liked' what Trump has done for the economy Though he supported Hillary Clinton, Goldman Sachs CEO Lloyd Blankfein says he has "really liked" what President Donald Trump has done with the economy. The remarks come with GDP growth posed to eclipse 3 percent for the third-consecutive quarter and as the stock market continues to roar to new records
Sounds like someone doesn't want to have a balanced budget and spend by the countries means. Sometimes we have to toughen up to push families to get up and work harder to be free independent people not living off government programs. This guy is a weenie. How this guy soeaks for the American people is beyond me.
The U.S. added 2.2 million jobs in 2016, on top of 2.7 million jobs gained in 2015, according to the Bureau of Labor Statistics. In fact, there has been growth of at least 2 million jobs in each of President Obama’s last six years in office, and there have been 75 consecutive months of jobs growth, a modern-day record.
80% (the bottom portion of the US population) own only 20% of the stock. So, when individuals say it is helping them get richer, it is primarily the rich not the average American. No wonder these interviewers sound like conservatives, they are speaking for the rich.
Corporations hire and pay employees. Money out of the pockets of government into the hands of corporations. Ordinary income is what applies to individuals. Corporations are being given incentive to grow their businesses and jobs. This is not an attack on the states, it’s an attempt to stimulate the economy long term. You underestimate the resolve and determination of the American people to live the American dream through education and entrepreneurship. The 401k guy is taxed by ordinary income. You say he benefits isn’t that good? That 401k wealth is rolling over daily 10,000 retiring baby boomers retiring a day. There is enough room in America to increase the number of wealthy at the top. This bill says that America is implementing social policy that encourages wealth creation and improving the life of the poor by stimulating the economy and promoting workfare over welfare. In the long term the poor will enjoy the benefits of being American. Poor immigrants come in to the country daily and enjoy their share of American dreaming and advancing your family’s financial status. Are not Americans entitled to the same opportunity?? If so, let’s see how this plan of giving money back to the people and enterprising corporations will advance our economy and the quality of life for Americans. Obviously the current system has failed Biggley 🤔. Elected leaders have approved a new approach to stimulating the economy... empower people to do more for themselves... education, savings, entrepreneurship. If the money is going to corporations... start a business. Wow, is that what conservatives want for America more enterprising entrepreneurs and less smug, crooked, spend thrifts in leadership. More empowered and wealthy Americans equals better quality representatives legislating and leading. My two cents!
until I hear a billionaire admit to the fact that they profit off of the labor of others and or the exploitation of resources and human suffering , I won't believe for a second that one is lookin our for the little guy
Quoted from Tom Jordan Imagine that every day, you go to lunch with 9 of your friends; and the bill for all ten comes to $100. The fair thing to do would be divide it evenly and everyone pay for his $10 lunch. BUT, If you paid the bill the way we pay our taxes, it would go something like this:The first four men would pay nothing. The fifth would pay $1. The sixth would pay $3. The seventh would pay $7. The eighth would pay $12. The ninth would pay $18. The tenth man would pay $59. So, that's what they decided to do.America is the land of opportunity. Many people have taken the opportunity to start out with nothing, work hard, and grow rich. While the ten men ate the same lunch every day, the one who had made the most of his opportunities generously paid a large portion,or all, of the cost for his 9 friends. One day, the owner said, "I'm going to reduce the cost of your daily lunch by $20.00." So lunch for the ten men would now cost just $80.The group still wanted to pay their bill the way we pay our taxes. So the first four men were unaffected and continued to pay nothing. They ate for free. But what about the other six? How could they divide the $20 windfall?They realized that $20 divided by six is $3.33. But if they subtracted an equal amount from everybody's share, then the fifth & sixth men would end up being PAID TO EAT lunch!So they decided it would be fair to reduce each man's bill by a higher percentage, the poorer he was, to follow the principle of the tax system they had been using.SOO the fifth man, like the first four, now paid nothing (now HALF the group got 100% off the price of their meal. HALF of the people were paying NOTHING). The sixth man now paid $2 instead of $3 (he got a 33% discount). The seventh now paid $5 instead of $7 (28% off). The eighth now paid $9 instead of $12 (25% off). The ninth now paid $14 instead of $18 (22% off). The tenth (who still paid half the entire cost of everybody's lunch) now paid $49 instead of $59 (16% discount). THEY WERE ALL better off than before. But nine still complained,even though NONE of them was paying their fair share to begin with! The sixth man who was only paying $2 for his $10 lunch, said, "I only got $1 off my bill. That's unfair, since the tenth man (the guy who STILL pays most of the bill) got TEN dollars off. The greedy, wealthy people get all the breaks!""Wait a minute," yelled the first four men (who ALREADY PAY ZERO and eat for free), "We didn't get any discount at all. This new tax system exploits the poor!"The nine men surrounded the tenth and told him they were angry that he got so much off while they each got very little. (Even though none of them was paying their fair share - all but one of them got a huge discount on the price of lunch)The next day the tenth man (who had already been paying, for a long time, a huge portion of everybody else's lunch) didn't show up for lunch. The nine ate without him, but they discovered something important. They didn't have enough money between them to pay even HALF of the bill!And that is how our tax system works. The people who already PAY THE MOST will NATURALLY BENEFIT the most from a discount (tax reduction), but they will STILL BE PAYING MUCH MORE THAN ANYONE ELSE. Tax them too much, punishing them for being industrious/successful/hard working and earning more money than somebody else, and they just may not show up anymore! (Would you?) In fact, they might start eating overseas, where the atmosphere is friendlier - and more fair.For those who understand this analogy, no explanation is needed. For those who do not understand, no explanation is possible.
During the Obama administration the debt went up $1trillion per year for every year he was in office. Let's try something new. Maybe this really will spur some growth and consequently bring in more revenue. It's doubtful that it can be much worse than what we have been doing.
He said several times "you're taking money away from the government and taking money away from services that are being delivered to the American people." Our tax dollars are being WAISTED by the government, especially in CA and given to people (many illegal) who have never contributed. I love CA (my family's home for 5 generations) but I'm embarrassed by what's happened to my state. I'm looking forward to seeing and experiencing good results from this tax cut, and I'm not rich by any means.
Thanks Mr.Steyer for sticking up for the true American people!
Finally a billionaire I like and is rational!!! Wow.
While doing cursory research for this I noticed the new IRS website under
Trump seems to only provide tax forms for 2015 and 2016. [If one looks
real hard there is a link to another site that provides forms between 1001
and 2011, but not since.] The Obama IRS site version had forms going back
to the earliest years of the national income tax, most of which I have on
file but in storage. Something similar happened in Federal Research files
under Bush II. Under Clinton there were stats that allowed modelling of
market trends that could predict a crash. When Bush took office the key
figures disappeared from the tables just after his first inauguration,
only to return again when Obama took office. Bet their gone again.
--------
As I suspected, the Republican tax bill played a shell game on deductions.
Here's how it works. This needs closer inspection once the tax forms and
new code settle.
Your deductions comes off your taxable income. Your exemption comes off
your gross income before taxes start. Gross income less exemptions equals
taxable income. You pay taxes on your taxable income, but that gets
reduced by your deductions. The exemption is pretty much fixed. It
generally doesn't get modified much. Deductions get modified downward much
more frequently by the tax code.
For the bottom tax margin, 10 percent, the combined deduction and
exemption for 2017 would have likely been around $10,400 ($10,350 in 2016,
$10,300 in 2015, and $9.350 in 2010). Between $6,000 and $7,000 of the
combines reduction would be the standard deduction. The rest is the
exemption.
So the Republicans say, "we're going to save you money by doubling the
$6,000 deduction to $12,000!" (in 2016 the deduction was $6300, which
would double to $12,600 for that year, and closer to $12,700 for 2017, but
let's not quibble when being short changed.) The Republicans then
eliminate the tax exemption, so your taxes now start at your first
dollar's income instead of after $5,000 or $6,000.
The result is your tax break is $12,000 instead of about $10,400, but your
paying the same margin on MORE INCOME. Ten percent of $5,000 is $500. The
net savings from deductions and credits is $1600. Without the deduction
coming from taxable income your taxes just increased $240. With the
deduction, if applied to taxable income before taxes are calculated, your
taxes were reduced $16.
$16 in reality instead of around $6,000 claimed.
Isn't it nice to have Republican's looking after you?
They say they increased your deduction by $6000 but you really only saved
$16 in taxes, plus loosing thousands in healthcare and other support.
Still, this all depends on other complications in the tax code, and there
may in fact be NO tax savings rather than a pittance balanced against huge
support losses.
Roger Lucas, the ACA that the Democrats passed our tax bill went up 30% because the taxes or whatever you want to call it cost 15,000 dollars for health insurance while premiums and deductibles when up. I will get a little bit of money while the Democrats only wants to take my money.
Tom Steyer is a candle on a Hill in the midnight darkness of this Evil Time! Thank You Tom Steyer!!!
They hate Trump so much that they can’t see straight. I am going to save 2000 a year, that will help me and businesses because I will invest some and spend some. That is economics 101.
Rich people #Welfare
Tom keep the conversation going👏🏻
I am so pleased that Mr. Steyer is helping us in this fight!
GO LISTEN TO ABIGAIL DISNEY TALK ABOUT THE 1% AND THE TAX CUTS SHOCKING
Tom Steyer is my new HERO.
#MAGA means "Morons Are Governing America."
Agree completely!
🙏Thank you Tom 👏 Exactly reverse Robin Hood!!!
Companies are already flushed in cash! They are buying back their own stock or off shoring their money! They have been doing well for over 7 years! How is giving them more tax money going to spur job growth???
Robin hood stole from the rich monarchs(government) because they over taxed. So reverse would be the gov stealing from the poor.
Second this legislation gives tax breaks to almost all Americans for 10 years(unless renewed), states with high property taxes in Cali or NY will see a tax increase because Intrest write offs are capped much lower.
Also talking points target "huge corporations" as greedy and in some cases are correct. Because the corps have little competition like Google(bing lol f that) but these cuts are universal across all business even the small allowing them to charge less for product or hire more people or pay more ECT.
Sir Alfred Lawrence Are you really a horrible person?
Not really its just stopping robin hood, but not in total, just a bit.
Yoga Unity YOU PEOPLE ARE BLIND AND STUPID
Will be dramatic for economy, taking away money from normal people doing shopping. A child can predict that
Tom Steyer for President 2020 yr !
This guy did his homework and knows what he is talking about. America better listen and do something in 2018. Vote!
lol, how about doing some homework yourself. I/we can listen to assumptions all day long. Of course Democrats don't want a stronger economy going into the future. Now there's a fact.
+k hill: That's Trump and the corrupt, thieving, bought-and-paid-for Republican Congress Crooks actually. They're the ones taking money from the government's MediCare, Medicaid, Children's Fund, future generations saddled with $TRILLIONS of budget DEFICIT just to give to themselves and their fellow rich clonies-donors. This is money being taken from existing programs to finance the ALREADY WEALTHY. This will increase the burden for the rest of us with no added funds to pay for the infrastructure and other much needed services. Reverse ROBIN HOOD indeed!
Tom STEYER held his own during that interview!!
Those interviewer were anti Steyer
Finally someone willing to state the obvious. Tom Steyer will get my vote. A true American hero.
Tom please run as an independent
That would be a gift to Trump.
I am genuinely trying to understand, what is the reason you or perhaps others would need him to run as an independent? If you agree with him and his political ideology why would his party affiliation keep you from voting for him? I am a lifelong Democrat but voted for Trump in 2016 because HRC and the DNC's underhanded campaign tactics made it impossible to trust them. There would be no need for debates and research if everyone feels obligated to vote according to party affiliation instead of voting based on independent and critical consideration of the pros & cons of every possible option available.
🇺🇸🇻🇮🙏we must impeach mr donald john trump today and right now!🇺🇸🇻🇮🙏!
Antione Berry And the congressional obstruction of justice!!! And prosecute the Oligarchs for bribery and threats.
Antione Berry YOUR A SHEEPLE MAAAA MAAAA LIBERALISM IS A MENTAL DISORDER
I wish that more rich people were like Tom.
Per Amundsson WHAT DO YOU MEAN STUPID ,LIARS LOL YOUR EASILY FOOLED
THERE IS ABIGAIL DISNEY GO LISTEN TO HER ON RUclips
America is on the decline. Rich getting richer. Poor getting poorer. Look out for the pitchforks coming
Thank you Tom for telling us truth!
Hope this guy runs in 2020! He is great to demand the impeachment of Trump! More power to him. He has lots of cash, and he is doing good things with it.
Something tell me you own allot of cats and your medicine cab if filled with anti psychotic drugs. What color is the sky in your little world moron?
Dearest Patriot One: No cats at my house. My drug of choice is coffee. Thankyou for your patriotism. Best regards.
Working Slaves get less. It always been that way.
We need to make great America with a person like you. go for it.
I respect this guy. Trump is a liar. Lies and Liars are the enemy of the people. He must be removed. Trump spits on rule of law/democracy.
Amazing how poor people are cheering Donalds tax plan...
I get so tired of interviewers interrupting interviewees! I do not want to try to listen to two people at the same time; I literally can't do it. So the video is useless to me. Morning Joe's Joe is the worst ever in this respect.
Tom did a long interview today (01-10-18) on CNBC. Looking forward to seeing it.
There's something INCREDIBLY suspicious about a billionaire who doesn't want other people to keep the money they earn.
i dont know much about tom steyer.. but at least hes got my vote if he runs... just the fact that his way of thinking is the same as me. If my boss got huge raise.. i highly doubt i would get a small cake out of it.
Exactly
Tom Steyer is so far left he can't make a right turn in his car!
Why are you carrying water for the Billionaire class?
Its more about forcing the government to reduce spending.... Government way to large and unsustainable.
Well explained
TRUMP 2020🇱🇷🇱🇷🇱🇷🇱🇷🇱🇷🇱🇷🇱🇷🇱🇷🇱🇷🇱🇷🇱🇷
"DROWN THE GUBNENT IN DUH BATHTUB." DUH OK. DAT'LL WERK I'd BETCHA! DUUUHHHH
Ken Langone and Jim Cramer release your taxes so we can see the effect of the changes.
My boy Tom is not breaking a sweat
It's so sad... I don't know what to do with all my money, the government won't tax me :(
GOP says well we are gonna recoup the trillion 1/2 thru the economy. Man really! Like Tom said, take the money away someone suffers. And Companies spending the extra money is a gamble. Demand for goods drives a company to hire. I hope people making 3-400 thousand a year don’t think there rich.
He’s absolutely lying about the tax plan. “The vast bulk of the break goes to rich people” but rich people pay 99% of total taxes. Taxes on the rich in NY and California will be higher if anything!
This guy made his billions from coal. Read about him.
will he keep his rich tax break or will he give 41%. he is a billionaire, he did nt get that way worrying about the middle class. he spent years bleeding the middle class. he is not a friend of the middle class. time will tell the truth about this mega ego.
If all the money and richest of these corporation put the money where should be going. Like profit sharing check and increase wages, this country will not have any poor. And give to education, so no more tuition can apply. This Country then will be the most prosperous and rich and powerful in the world. We need to invest in infrastructure, roads, etc. that create jobs.
Tom.....oh forget it😡
More like Boy Wonder in the clutches of the Joker.
Economy will collapse soon once this really kicks in. Make anything top heavy and down it goes.
Love Tom Steyer! Take action against Trump and his Trumpism cons. VOTE!!
What Income Defines Middle Class
I'm voting for TOM STEYER for any position in government he wants including those occupied by blue-dog democrats.
10 months later .... this dude was wrong !
The general elect wants us to lower our govt standards ?!.. that is the answer. Theres an idea .. "does anyone want to lower thier standard." That isnt healthy.. thakethat ball and run with it.. number 5
Goldman CEO Blankfein has 'really liked' what Trump has done for the economy
Though he supported Hillary Clinton, Goldman Sachs CEO Lloyd Blankfein says he has "really liked" what President Donald Trump has done with the economy.
The remarks come with GDP growth posed to eclipse 3 percent for the third-consecutive quarter and as the stock market continues to roar to new records
Wow
Sounds like someone doesn't want to have a balanced budget and spend by the countries means. Sometimes we have to toughen up to push families to get up and work harder to be free independent people not living off government programs. This guy is a weenie. How this guy soeaks for the American people is beyond me.
The U.S. added 2.2 million jobs in 2016, on top of 2.7 million jobs gained in 2015, according to the Bureau of Labor Statistics. In fact, there has been growth of at least 2 million jobs in each of President Obama’s last six years in office, and there have been 75 consecutive months of jobs growth, a modern-day record.
Sadly, predominately low paying jobs
80% (the bottom portion of the US population) own only 20% of the stock. So, when individuals say it is helping them get richer, it is primarily the rich not the average American. No wonder these interviewers sound like conservatives, they are speaking for the rich.
wow a rich guy saying a lot about the poor
He was not wrong
Corporations hire and pay employees. Money out of the pockets of government into the hands of corporations. Ordinary income is what applies to individuals. Corporations are being given incentive to grow their businesses and jobs. This is not an attack on the states, it’s an attempt to stimulate the economy long term. You underestimate the resolve and determination of the American people to live the American dream through education and entrepreneurship. The 401k guy is taxed by ordinary income. You say he benefits isn’t that good? That 401k wealth is rolling over daily 10,000 retiring baby boomers retiring a day. There is enough room in America to increase the number of wealthy at the top. This bill says that America is implementing social policy that encourages wealth creation and improving the life of the poor by stimulating the economy and promoting workfare over welfare. In the long term the poor will enjoy the benefits of being American. Poor immigrants come in to the country daily and enjoy their share of American dreaming and advancing your family’s financial status. Are not Americans entitled to the same opportunity?? If so, let’s see how this plan of giving money back to the people and enterprising corporations will advance our economy and the quality of life for Americans. Obviously the current system has failed Biggley 🤔. Elected leaders have approved a new approach to stimulating the economy... empower people to do more for themselves... education, savings, entrepreneurship. If the money is going to corporations... start a business. Wow, is that what conservatives want for America more enterprising entrepreneurs and less smug, crooked, spend thrifts in leadership. More empowered and wealthy Americans equals better quality representatives legislating and leading. My two cents!
Say bye bye to your 401k byebye to middle class byebye poor byebye AMERICA
LMF
until I hear a billionaire admit to the fact that they profit off of the labor of others and or the exploitation of resources and human suffering , I won't believe for a second that one is lookin our for the little guy
Awful bill!!!!!!!!!!!!!
Quoted from Tom Jordan
Imagine that every day, you go to lunch with 9 of your friends; and the bill for all ten comes to $100. The fair thing to do would be divide it evenly and everyone pay for his $10 lunch. BUT, If you paid the bill the way we pay our taxes, it would go something like this:The first four men would pay nothing.
The fifth would pay $1.
The sixth would pay $3.
The seventh would pay $7.
The eighth would pay $12.
The ninth would pay $18.
The tenth man would pay $59.
So, that's what they decided to do.America is the land of opportunity. Many people have taken the opportunity to start out with nothing, work hard, and grow rich. While the ten men ate the same lunch every day, the one who had made the most of his opportunities generously paid a large portion,or all, of the cost for his 9 friends. One day, the owner said, "I'm going to reduce the cost of your daily lunch by $20.00." So lunch for the ten men would now cost just $80.The group still wanted to pay their bill the way we pay our taxes. So the first four men were unaffected and continued to pay nothing. They ate for free. But what about the other six? How could they divide the $20 windfall?They realized that $20 divided by six is $3.33. But if they subtracted an equal amount from everybody's share, then the fifth & sixth men would end up being PAID TO EAT lunch!So they decided it would be fair to reduce each man's bill by a higher percentage, the poorer he was, to follow the principle of the tax system they had been using.SOO the fifth man, like the first four, now paid nothing (now HALF the group got 100% off the price of their meal. HALF of the people were paying NOTHING).
The sixth man now paid $2 instead of $3 (he got a 33% discount).
The seventh now paid $5 instead of $7 (28% off).
The eighth now paid $9 instead of $12 (25% off).
The ninth now paid $14 instead of $18 (22% off).
The tenth (who still paid half the entire cost of everybody's lunch) now paid $49 instead of $59 (16% discount).
THEY WERE ALL better off than before. But nine still complained,even though NONE of them was paying their fair share to begin with! The sixth man who was only paying $2 for his $10 lunch, said, "I only got $1 off my bill. That's unfair, since the tenth man (the guy who STILL pays most of the bill) got TEN dollars off. The greedy, wealthy people get all the breaks!""Wait a minute," yelled the first four men (who ALREADY PAY ZERO and eat for free), "We didn't get any discount at all. This new tax system exploits the poor!"The nine men surrounded the tenth and told him they were angry that he got so much off while they each got very little. (Even though none of them was paying their fair share - all but one of them got a huge discount on the price of lunch)The next day the tenth man (who had already been paying, for a long time, a huge portion of everybody else's lunch) didn't show up for lunch. The nine ate without him, but they discovered something important. They didn't have enough money between them to pay even HALF of the bill!And that is how our tax system works. The people who already PAY THE MOST will NATURALLY BENEFIT the most from a discount (tax reduction), but they will STILL BE PAYING MUCH MORE THAN ANYONE ELSE. Tax them too much, punishing them for being industrious/successful/hard working and earning more money than somebody else, and they just may not show up anymore! (Would you?) In fact, they might start eating overseas, where the atmosphere is friendlier - and more fair.For those who understand this analogy, no explanation is needed. For those who do not understand, no explanation is possible.
3m bots have signed his petition online. Try getting rel signatures from 3m people. If not, the right will say 'bots' and 'trolls' hack it... Lawls
wow ...someone hates losing
ANYONE THAT DONT WANT TO KEEP MORE OF YOUR OWN MONEY. SEND IT TO ME.
Get this guy a Safe space ! Puppies and Playdough on the double! and back it up with cookies and juice
what Tom forgot to mention is that with new tax plan,the rich can afford to pay higher wages and even pay all(that's ALL) health coverage.good times
TRUMP 2020
tommie has already spent his tax savings, and guess what, nothing for the poor.
During the Obama administration the debt went up $1trillion per year for every year he was in office. Let's try something new. Maybe this really will spur some growth and consequently bring in more revenue. It's doubtful that it can be much worse than what we have been doing.
Chuck Cox the debt had no choice but to go up under bush and what he did do your research Obama saved our country