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by cheeseomlit
880 days ago
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Every dollar I've ever paid in federal taxes has been thrown into a black hole of debt never to be seen again, their actual spending is fueled by debasement of the currency (IE. money printing). The only purpose of taxation in such a system is to reduce inflationary pressure caused by their own malfeasance, I can't imagine they actually need the revenue since there seems to be no relationship between revenue and spending anyways. This all makes our current system of taxation feel less like a civic duty and more like a scam. >50% of the country believes tax is theft, and they also imagine if there were no taxes and the IRS abolished we'd somehow still continue to support an army, have a federal court system, a patent office, etc, etc, and that their state will continue to get federal subsidies. That is not at all what 50% of the country believes, its a hyperbolic strawman. Obviously taxation is necessary to fund public services, just because someone criticizes the litany of flaws in our specific system doesn't mean they don't believe in the concept of taxation. Funny that you go on to complain about lack of nuance. |
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> Every dollar I've ever paid in federal taxes has been thrown into a black hole of debt never to be seen again
This contradicts what you say later: taxes are returned in the form of public services.
Back in the 50s the max tax rate (for a very few, but very rich people) was 90%. Corporations collectively contributed about half of what individual taxes did; now it is about 10%. The 2017 (?) tax bill forgave more than $1T in corporate taxes that were owed and gave some people a couple thousand dollars tax break; but while those corporate tax cuts were permanent, that same law that dropped the rate for some individuals was written to increase individual tax rates every two years and in no time those people are paying more in taxes than before.
If the Bush and Trump tax cuts for corporations and rich people had not ever happened, the debt would be going down (ignoring the extraordinary circumstances of covid).
Rich people and rich corporations can afford to get the laws written in their favor.
corporate: https://fred.stlouisfed.org/series/FCTAX individual: https://fred.stlouisfed.org/series/A074RC1Q027SBEA
chart showing the ratios over time: https://taxfoundation.org/data/all/federal/composition-of-fe...