DOGE will soon lead to lowering interest rates.....

[-lowcountrydawg]

WTF are you talking about? Treasuries have risen since September. 10 yr note is 4.24 today. Previous low of 3.63 in Sept '24. Go read an economics textbook.

The post was made in early February. Thanks. Treasuries had run up with the stock market as Trump’s likely high growth economy was priced in, and investors hadn’t yet priced in the budget deficit cutting effect of DOGE or the impact of government layoffs on the NFP numbers. Thanks again for proving my point. To your point, in September Kamala had a 50 percent chance of winning….lower economic growth was more likely, and as such….the Fed easing rates was priced into those yields.

 

[Lava-Man]

Baloney. The top 1-3% of wealth pay a disproportionately lower amount of taxes v all other taxpayers. This is a long proven economic fact.

Baloney? I quoted you the actual numbers. You're simply wrong and your refusal to accept it doesn't change that fact.

 

[Lava-Man]

Baloney. The top 1-3% of wealth pay a disproportionately lower amount of taxes v all other taxpayers. This is a long proven economic fact.

Baloney? I quoted you the actual numbers. You're simply wrong and your refusal to accept it doesn't change that fact.

Since I already dove head-first into tax data elsewhere this morning. Let me show you with more data how your "long proven economic fact" is in...in fact...complete baloney.

• Your argument is not supported by data from any US government source.
• According to IRS data for 2022, the top 1% of income earners (those with adjusted gross income above $609,510) paid 45.8% of all federal income taxes while earning 26.3% of total AGI. This means their share of taxes paid far exceeds their share of income, showing a tax system where the wealthy shoulder a larger tax burden relative to their income.
• Expanding to the top 5%, the IRS shows they earned 37.7% of AGI but paid 65.6% of federal income taxes in 2022.
• This disparity grows even more stark when considering effective tax rates: the CBO reports that in 2019, the top 1% faced an average federal tax rate of 30.2% (including income, payroll, and other taxes), compared to 14.6% for the middle and just 1.7% for the bottom.
• These figures clearly demonstrate that the wealthy pay a higher effective rate, contradicting your incorrect point of a "disproportionately lower" tax burden.

Furthermore, this trend holds historically.

• The CBO’s data from 1979 to 2019 shows the top 1% consistently paying higher average tax rates than other groups, with their share of federal taxes growing as income inequality rises.
• While wealth and income are not identical, IRS and CBO data focus on income-based taxation, and no government source supports the claim that the top wealth holders pay less proportionally.
• The tax code results in the top wealth holders paying vastly more in absolute and relative terms than other taxpayers, debunking your statement of a "long proven economic fact."