DJIA goes straight down under AP Biden

[Dan]

Angry, Lawless, disgraced plagiarist, clueless, out of touch, inept, Terrorist-approved, Illegitimate, incompetent, racist, pedophile, cut-and-run, fake president "Butt Wipe" Whisper “Time Check”  Apartheid dictator Biden is back in the win column in the DOW with a gain of 338 points today as White House insurgent.   That raises Creepy zero responsibility dementia Fuhrer Traitor Joe’s record to 93-78.

[Dan]

Angry, Lawless, disgraced plagiarist, clueless, out of touch, inept, Terrorist-approved, Illegitimate, incompetent, racist, pedophile, cut-and-run, fake president "Butt Wipe" Whisper “Time Check”  Apartheid dictator Biden is still in the win column in the DOW with a gain of 507 points today as White House insurgent.   That raises Creepy zero responsibility dementia Fuhrer Traitor Joe’s record to 94-78.

[Jw2]

Folks, I don’t want to punish anyone’s success. But those at the top have been getting a free ride for far too long.


We’re going to change that.

~ President of the United States of America, Joe Biden

[Jw2]

Dow Jones Industrial Average
INDEXDJX: .DJI
34,764.82 +506.50 (1.48%)today
Sep 23, 5:03 PM EDT


S&P 500
INDEXSP: .INX
4,448.98 +53.34 (1.21%)today
Sep 23, 5:03 PM EDT


Nasdaq Composite
INDEXNASDAQ: .IXIC
15,052.24 +155.40 (1.04%)today
Sep 23, 5:15 PM EDT

[Dan]

Folks, I don’t want to punish anyone’s success. But those at the top have been getting a free ride for far too long.

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Given the fact the top 1% pay 40% of the taxes, and that the bottom 61% of income earners paid zero taxes in 2020, it would appear that those at the top are the ONLY ONES paying income tax.  So where is this so-called "free ride?"

[Dan]

You know who's getting a "free ride?"  The people who aren't paying any income tax.  The people getting child earned income credits.

[D2D]

True on direct income taxes!

However, those on any form of welfare pay via higher costs of goods and services due to increased taxes and inflation accumulated throughout the product/service's production chain to the end consumer!

[Dan]

But inflation affects everyone, rich and poor alike.  Kind of like a "flat tax."

[Jw2]

This is a classic example of how to lie with statistics. It’s shameless but effective propaganda, which is why the people with the most to gain from it pay propagandists to spread it widely through the gullible, like deceptive danny. Anyone pushing this is trying to fool you, and you should ignore anything they say on any subject.

There are two main aspects to the deception.

First, these numbers refer only to federal income taxes. Both the federal and the income part are important.

The income tax is not the only tax collected by the federal government — far from it. Just half of the taxes collected by the federal government come from the income tax. About a third come from payroll taxes — which fall much more heavily on working people, since they’re largely levied only on the first $130,000 or so of earned income.

This means the rich pay a far lower payroll tax rate than regular people. A nurse making a salary of $50,000 per year pays (counting both the employee and employer side) 12.4 percent in OASDI taxes (for Social Security and disability insurance). But a sitcom star making a thousand times that, or $50 million a year, will pay the 12.4 percent only on the initial $130,000 of their salary, working out to a total OASDI tax rate of just 0.03 percent on their $50 million. And because OASDI taxes are only levied on earned income — meaning, money you make from a job — a billionaire investor with a $50 million annual income from dividends and capital gains will pay exactly zero percent in OASDI taxes.

Then there’s the fact that it’s not just the federal government that taxes Americans. There are also many, many state and local taxes: State income taxes, property taxes, sales taxes, and more. Some of these, such as sales taxes, are actually regressive — i.e., the less money you make, the higher tax rate you have to pay.

Second, the wealthy naturally pay a disproportionate share of federal income taxes because they make a disproportionate share of the country’s income. In other words, these numbers to some degree demonstrate exactly the opposite of what those who use them claim: They’re not an indication that the superrich are beleaguered, but are in part a sign of America’s staggering wealth inequality.

It is true that the federal income tax is still significantly progressive — that is, the tax rate is higher on higher income. But as Thomas Jefferson would tell you, this is exactly what should happen in a country like the U.S. Jefferson wrote this to James Madison in 1785 from monarchical France: “The property of this country is absolutely concentered in a very few hands … the consequences of this enormous inequality producing so much misery to the bulk of mankind, legislators cannot invent too many devices for subdividing property. … [One means is] to exempt all from taxation below a certain point, and to tax the higher portions of property in geometrical progression as they rise.” Adam Smith also believed in progressive taxes.

[D2D]

The number of Americans filing for first-time jobless benefits unexpectedly rose last week.

The Labor Department said Thursday that 351,000 Americans filed for first-time unemployment benefits in the week ended Sept. 18, an increase from the previous week’s upwardly revised 335,000 filings. Analysts surveyed by Refinitiv were expecting 320,00 new filings.

https://www.foxbusiness.com/economy/initial-jobless-claims-september-18

Beijing Biden's war on jobs continues!

[Dan]

This is a classic example of how to lie with statistics. It’s shameless but effective propaganda, which is why the people with the most to gain from it pay propagandists to spread it widely through the gullible, like Dan

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What the hell are you talking about, deceptive johnny?

Anyone pushing this

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Pushing what, johnny?

Adam Smith also believed in progressive taxes

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Nope.

[Dan]

Angry, Lawless, disgraced plagiarist, clueless, out of touch, inept, Terrorist-approved, Illegitimate, incompetent, racist, pedophile, cut-and-run, fake president "Butt Wipe" Whisper “Time Check”  Apartheid dictator Biden is still in the win column in the DOW with a gain of 33 points today as White House insurgent.   That raises Creepy zero responsibility dementia Fuhrer Traitor Joe’s record to 95-78.