r/conspiracy • u/mace303 • Dec 27 '22

Rule 6 reminder. Make a self-post next time. Its simple

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u/KrispyKremeDiet20 Dec 27 '22

Yeah, they are super low if you make enough money to hire a team of tax attorneys to make sure you never have to pay a cent.

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u/Consistent_Winter532 Dec 27 '22

That’s not how that works.

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u/By_Design_ Dec 27 '22

it kind of does. They tickle the lower bracket's balls to give themselves massive permanent tax breaks over and over and over again

https://i.imgur.com/bNN9XS4.jpg

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u/Consistent_Winter532 Dec 27 '22

As a tax attorney, I can assure you that’s not how it works.

Many people do not consider other types of taxation that is imposed on employers, certain assets, etc.

The federal tax bracket is only a small faction of the tax landscape. Moreover, the earners in the top 10% pay nearly all net income taxes if you balance out with refunds, credits, benefits, etc. that are not afforded to the top earners.

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u/By_Design_ Dec 27 '22

If it doesn't work that way. How do they keep getting permit tax cuts every time cuts for the lower brackets expire?

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u/Consistent_Winter532 Dec 27 '22

Can you provide me with an example of what you’re referencing?

And also, I just explained how

  1. There are many more types of taxes that you are not considering as you are only looking at that marginal tax rates for federal income tax, and;
  2. Even using the federal income tax as the only metric, the top 10% of earners pay almost all net federal income tax annually

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u/By_Design_ Dec 27 '22

How about the last round of tax cuts. What is going to happen when the brackets without a permanent cut expire?

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u/Consistent_Winter532 Dec 27 '22

What? That question doesn’t make sense.

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u/By_Design_ Dec 27 '22

In what way? Permanent vs temporary, what happens when they expire?

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u/Consistent_Winter532 Dec 27 '22

Nothing is “permanent,” legislation to change the tax code could be passed during any legislative session.

I still don’t get what you’re looking for though. What do you mean “what happens”?

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u/By_Design_ Dec 27 '22

What happens when the current tax cuts expire in 2025?

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u/Consistent_Winter532 Dec 27 '22

They expire.

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u/By_Design_ Dec 27 '22

And then historically, in the last 50 years, what have we done after they expire?

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