Comments by "whyamimrpink78" (@whyamimrpink78) on "Trump Wants Tax Cuts For The Rich To Deal With The Covid Depression" video.

  1. Kyle's level of economic illiteracy is high, as usual, in this video.
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  2.  @CB-db1qx  I am not missing the point. You are just making an arbitrary point. The military does more than just war. It does a lot of humanitarian work as well. We base our military spending based on percent of GDP. As for saying the increase in pay will pay for college for all, that is not true as you are ignoring factors such as universities increasing prices. So it isn't as simple as you make it. Never mind the complications that arises from "free college" such as the NCAA, enrollment, scheduling, etc. Taking that money to pay for "free college" will lead to increases in cost. " Do you have any idea how much that would boost the economy? Educated public + disposable income in the hands of middle class Americans only benefits the country. " Do you want an "educated" public or a productive one? Just because you are "educated" does not mean you are productive. Again, it isn't that simple. "How is it that the worlds.most wealthy retailer (Amazon) with the wealthiest man in the world as it's CEO get away with not paying federal taxes two years in a row? " Bezos paid federal taxes, so did Amazon. Amazon paid plenty in payroll taxes along with local taxes. They did not pay federal taxes (and should not in general) because they invested in innovation. But as a whole, corporations should not be paying federal taxes. You may disagree but corporations are completely different than individuals. And Bezos paid federal income taxes. He makes $80,000 a year. "The wealthiest 8 people in the US MADE 6.2 BILLION combined in a single day this year." That is not true. You are looking at shares of stock. That is non-liquidated wealth. They have limited access to it. Please learn what wealth is. It fluctuates and they have limited access to it. You are grossly oversimplifying this issue.
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  3. You do know a payroll tax cut will be a tax cut on the workers?
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  4. I want them to eliminate the payroll tax. You do know workers pay a portion of the payroll tax?
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  5.  C W  when did I get "spanked" by Sam Seder.
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  6.  @CB-db1qx  I do not mind paying taxes either, the payroll tax is asinine. It actually is an incentive not to give our higher wages. Why? Because if an employer pays a higher wage they have a higher payroll and thus have to pay higher taxes. The payroll is not good. As for the "bloated military", spending in defense as a percent of GDP has been dropping for decades and is near an all time low. As for the time period you talk about, no one paid those high rates in the 50s and 60s. Joseph Barr complained that in 1967 there were 155 Americans who earned over 200,000 dollars that year that paid zero dollars in federal income taxes. That is why the Tax Reform Act of 1969 was passed. Also during that time the rest of the world was rebuilding giving us the competitive edge economically.
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  7.  @cesargomez8887  I support taxes, but the payroll tax is asinine. It is an incentive for employers not to give out wages. If an employer pays a higher wage they have a higher payroll and thus a higher tax. To me the best tax code is, at the federal level, have a flat income tax with a consumption tax. Also, most programs in the US are funded by local taxes. Education is funded by local taxes. Only around 8% of education funding is federal.
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  8.  @CB-db1qx  your first sentence is flawed. If you combine the GDP of those 9 nations it is comparable our GDP. So of course or military spending it is larger than those nations combined, so is our GDP. You know what else is true? We spend more on education than most of those nations combined, so should we cut in education? "Not sure why people making $200,000 or more weren't paying taxes the in the time period you referenced." Because of the numerous tax loopholes. Again, no one paid those high rates. The rich also pay more in taxes. The top 20% earned 40% of the income and paid 80% of the total federal income taxes. The US did not have competition.
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  9.  @captainkatheist  easy. To start workers pay the payroll tax as well. So cutting it will be a tax cut for workers. Also, the payroll tax is an incentive not to have higher wages as a higher wage means higher payroll and thus employers pay a higher tax. That is why so many employers offer benefits instead. Next, the capital gains tax is an incentive not to trade and thus reduces liquidated wealth. As for some of the other numbers Kyle gives such as 78% living paycheck to paycheck, how much of that is due to poor money management? A UBI also won't help where there are no goods and services to buy. Right now we have a meat shortage and we are short in many supplies due to lack of productivity. Eventually we have to get people back to work. These tax cuts will help that. A UBI will just compound our current situation with higher inflation.
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  10. @dpjb2930 Jp read my comment to Captain Atheist.
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  11. The last tax cuts helped out the economy under Trump.
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  12. Does Kyle know that workers have to pay for the payroll tax? Also, the payroll tax is an incentive to not give out raises. Why? Because if a company pays a higher wage they have a higher payroll thus pay a higher tax. I support elimination of the payroll tax all together.
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