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You are here: Home / Economics / C.R.E.A.M. / Imma get this money and rob them

Imma get this money and rob them

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Galtians straight up stealing money from the middle-class:

By 2027, at least 28 percent of Americans would see their taxes rise, the report says. Many of those taking a hit would be people who make less than $48,000 a year.

[….]

Meanwhile, taxpayers in the top 1 percent (those making more than $730,000) would receive an average cut of $37,000 next year, and the top 0.01 percent (those making more than $3.44 million) would see their after-tax incomes rise by an average of $179,000 in 2018.

POPULISM!

Update. Jesus Christ.

Reader Interactions

46Comments

  1. 1.

    Yutsano

    Wonder how far this is going to go now that Grandpa Walnuts declared it dead in the Senate.

    And the window of error is even more narrow without Baby Doc there.

  4. 4.

    (((CassandraLeo)))

    At some point this is going to cause the tumbrels and guillotines to come out, and if this keeps up I’m not even going to feel sorry.

    Edit: Chris clearly had the same idea. Great minds, etc.

  5. 5.

    Kraux Pas

    Well, people making under 50K per year should work harder so they can buy a member of Congress.

  6. 6.

    D58826

    ot but just been watching MSNBC coverage of the TX shooting.

    Repeat after me : thoughts and prayers

    thoughts and prayers

    thoughts and prayers

    its to early

    its is a mental illness issue

    repeat over and over

    Meanwhile in the real world in TX. One family lost three generations of family from an 18 month old baby to a 72 year old grandfather. The irony is that faith and prayer is what is sustaining these families.

    It remains to be seen if the shooter does cross the mental illness threshold or was he just a man with anger management issues. But it is to soon to discuss this issue.

  7. 7.

    Mnemosyne

    Looks like Trump’s people looked at the same polls we did and realized that his “white working class” base voters actually make between $50K and $200K a year. This is a gift to them.

  9. 9.

    laura

    Who’s likely to be the first Aldo Moro in the trunk of a car in our new tax cuts for zillionaires “Great Again” utopia?

  10. 10.

    Mary G

    The anesthesiologist’s attorney has said that his client’s beef with Rand Paul had nothing to do with politics whatsoever, just some trivial disagreement, nothing to see here, move along. Starting to think that HelenInEire’s theory has legs.

  11. 11.

    trollhattan

    Thank Gawd I’m sitting to read this shocker. This a.m. my Nice Polite Republican news had an R congresscritter on lying so high and hard about the magical benefits of their tax plan the radio caught fire. They say this shit with such convicion–EVERYBODY will benefit from the three, four, five-percent growth rate arglebargle and high-income tax states have been taking from the low-tax states all this time! [stamps feet]

    I hate these people.

  12. 12.

    catclub

    That table clearly is goofy. Look at the $100-200k line compared with the ones above and below it.

    Nope, wait a minute – that is not change for a filer with income in that range, that is change in total taxes for all the filers in that range put together –

    so most of the money is in the population with incomes between $100-$200k/yr – but we still don’t know who gets the biggest per person tax break
    (except it is probably Donald Trump)
    I think that is to make the whole thing maximally confusing.

  15. 15.

    HeleninEire

    You know I am not a “HEY STOP BIGFOOTING” person. But Jesus Christ. Waited for an open thread for 3 hours. And then this happens. I need to be Raven. He don’t do open threads. He posts whatever he wants whenever he wants.

  16. 16.

    Brachiator

    The #TrumpTaxScam’s “distribution tables” are out. See these? These are tax INCREASES for filers w incomes less than $40K starting in 2023.

    The Republicans will sell this as a free market incentive for lazy people to work harder so that they can enjoy the caviar dreams of the upper crust.

  18. 18.

    Mnemosyne

    @Mary G:

    I certainly will be shocked if a prominent Republican turns out to be a statutory rapist. Shocked. Really. Honest.

  20. 20.

    WaterGirl

    @Major Major Major Major: I’m not sure it’s fair to say that anymore. Cole comments more frequently than he used to. Also, If two threads with the same topic come out within a few minutes of one another, they were likely both being composed at the same time, after checking to see if someone else has posted about x topic.

  21. 21.

    WaterGirl

    @Mary G: What’s Helen’s theory? I have been out of the loop for a couple of days. Coveting thy neighbor’s wife? Or coveting thy neighbors under-age daughter?

  23. 23.

    John

    Keep in mind that these are averages. If you live in a blue state or a high property tax area, your taxes are likely going up if you itemize.

  24. 24.

    catclub

    @Major Major Major Major:

    They’ll probably just wait for him to kick the bucket and get replaced by an appointed nutjob.

    But that looks unlikely to happen before the end of year deadline that Trump has set.

  26. 26.

    What Have the Romans Ever Done for Us?

    Is there something wonky about that table of tax impacts? I don’t think those earning between $100,000 and $200,000 pay $57,000 in taxes per year and if they do, it seems like every last dime they would pay. So, like, how are they going to get a $57,000 tax cut in 2019 if that exceeds their current tax bill? I thought that was the portion of the middle class that might see their taxes raised based on early analyses, but now it looks like they get the biggest cut. Granted maybe most folks don’t consider people making that much middle class but they have more in common with someone making $48K than they do with someone making more than $1 million per.

  28. 28.

    catclub

    @What Have the Romans Ever Done for Us?: Look again and check my other post. It is the total tax change for all the people in a particular income band. NOT the change in income tax for one taxpayer in that band.

    A useful table would have information both ways. it would also have information on the total amount of income taxed in each band. But that would be useful.

  30. 30.

    catclub

    @WaterGirl:

    What does COKIE stand for?

    Cokie was the one who made famous ‘Would it be irresponsible to speculate? It would be irresponsible not to speculate.”
    At least when it came to any possible impropriety by a Democrat.

    I sure hope it is true and Rand Pauls wife goes after those ribs with a baseball bat. It would be better if it is not true but she goes after him with the bat,
    anyway. Or a nine iron.

  31. 31.

    WaterGirl

    @catclub: Thank you! If it had been Cokie I would have recognized that as a reference to her famous comment, but the all caps had me barking up the wrong tree.

    I wonder it there exists in the world a republican politician who is not a total fucking pig.

  32. 32.

    chopper

    @catclub:

    or apparently as it may apply to ol’ randy, “would it be irresponsible to ejaculate? it would be irresponsible not to.”

  33. 33.

    Zach

    If the Democratic party were vaguely functional, they’d have raised a hundred million by now, knowing this was coming, and start an all out assault on the GOP on this single issue for the next year (regardless of how the votes go). You also need to throw the cost of the tax cut on top of there, which is a couple grand per year per taxpayer.

  35. 35.

    TenguPhule

    @Major Major Major Major:

    They’ll probably just wait for him to kick the bucket and get replaced by an appointed nutjob.

    Wait wait, isn’t this the negativity I’ve been hearing so much about these days?

  37. 37.

    TenguPhule

    @WaterGirl:

    I wonder it there exists in the world a republican politician who is not a total fucking pig.

    Susan Collins.

    Who is a lying asshole.

  38. 38.

    TenguPhule

    @catclub:

    But that looks unlikely to happen before the end of year deadline that Trump has set.

    Nothing that a little Russian mule can’t solve.

  42. 42.

    Tom Q

    @catclub: Actually, to be an insufferable pedant, I believe it was Peggy Noonan who came up with the immortal “It is irresponsible NOT to speculate”

    But it’s an easy thing to confuse, because Cokie is the source of the quite similar “It doesn’t matter if it’s true, people are talking about it.” So she swims in the same Village cesspool, and their relative place in the tumbrel queue is of little consequence to me.

  44. 44.

    stinger

    @What Have the Romans Ever Done for Us?: That line in the table for $100,000-$200,000, where the decrease in federal tax is lower than every other band, every year (except 2027 for millionaires)? Know why that is?

    (Hint1: Members of congress pay federal tax on their congressional salaries.)

    (Hint 2: The annual salary for most members of congress is $174,000. Majority and minority leaders and the Senate’s president pro tempore get $193,400.)

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