i sent this text to my family group chat (which includes my father). my dad is a poverty MAGA with a wild fantasy about how to better enjoy his retirement.
this post was submitted on 29 Jan 2025
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If they gave everybody in the US in poverty 100k, it would cost $4,189,000,000,000.
The US GDP is $27,360,000,000,000.
How much tax revenue would we gain if we reinstated the corporate tax to the levels it used to be in the 40's and 50's? You know, when America was great? That tax rate was 52%>. Care to take a gander at what today's rate is?
We are losing tens or hundreds of billions of dollars thanks to tax policy incongruent with sanity.
Effective tax rate? Basically zero. Iirc the on-paper corporate tax rate is around 20%.