Via Ben Wikler:
Absorb this graph—but note that the final year is 2018, the year of Trump’s tax cuts. That’s #Trump’s big goal, always has been: to rip off working people and hand huge bags of cash to the ultra-wealthy, like himself and his Mar-a-Lago buddies.
Rutger Bregman:
Stunning graph: the plummeting tax rates of the richest Americans. For the first time in history, billionaires have a lower effective tax rate than working-class Americans.
If the richest Americans had simply grabbed the cash & invested it, they'd probably have gotten away with it.
Instead, these wealthy individuals used these gains to:
1. Fund a fascist movement
2. Fry a planet
3. Let 1.2 million Americans die in a pandemic
4. Eradicate the civil rights of 167 million American women
5. Buy a corrupt Supreme Court
6. Bribe 147 members of Congress into participating in a coup attempt
7. Fund voter suppression efforts
8. Thwart unions
@Npars01 @GottaLaff > they'd probably have gotten away with it
Have they been held accountable yet?
Beginning to...proposing 25% tax rates on unrealized gains for the mega wealthy.
https://www.vox.com/money/23634085/biden-2024-budget-billionaire-tax-capital-gains
If billionaires have sufficient cash to overthrow a democratically elected government, they have enough cash to pay their fair share.
Currently, many billionaires pay only 4 to 6% tax rates, far too low.
The termination of the carried interest loophole was foiled by that traitor Sinema, using the filibuster.
Billionaires lined her pockets to buy her vote, a clear case of public corruption
https://www.nytimes.com/2022/08/05/business/dealbook/sinema-tax-loophole-carried-interest.html
https://itep.org/kyrsten-sinema-fights-to-protect-tax-breaks-for-private-equity/
https://www.pionline.com/washington/senate-democrats-reintroduce-bill-targeting-carried-interest
Sadly, so far, they have gotten away with it. This has been going on my entire adult life as the graph shows. It started slowly in the 70's but took off with Reagan and hasn't stopped. The fascism is the result of their out of control greed.
It won't last. It's not sustainable. How it ends remains to be seen though.
Laffy
Nicole Parsons
Ben Ramsey
Polly
George Dinwiddie
Andrew C. White
Fletcher Kumyss