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Casey Michel 🇰🇿 Feb 28
Replying to @cjcmichel
The remarkable rise in tax evasion among America’s wealthiest, 1973 vs. 2018:
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Casey Michel 🇰🇿 Feb 28
Replying to @cjcmichel
The growing, growing, growing percentage of paper profits U.S. multinationals have moved into tax havens, 1965-2018:
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Casey Michel 🇰🇿 Feb 28
Replying to @cjcmichel
The evolution of U.S. tax rates on capital vs. labor, 1915-2018:
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Casey Michel 🇰🇿 Feb 28
Replying to @cjcmichel
The shares of total U.S. household wealth owned by the top 1% vs. the bottom 90%, 1910-2018:
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Casey Michel 🇰🇿 Feb 28
Replying to @cjcmichel
The incredible rise in global multinational profits booked outside of the countries in which they’re headquartered, 1930-2019:
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Casey Michel 🇰🇿 Feb 28
Replying to @cjcmichel
The U.S. capital income tax rates vs. U.S. savings rates (“taxing capital does not seem to reduce saving”), 1915-2018:
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Casey Michel 🇰🇿 Feb 29
Replying to @cjcmichel
Other nuggets from Zucman’s/Saez’s book on American historical taxation: —"In 2018, following the Trump tax reform, and for the first time in the last hundred years, billionaires have paid less than steel workers, schoolteachers, and retirees."
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Casey Michel 🇰🇿 Feb 29
Replying to @cjcmichel
—Under Roosevelt, Truman, and Eisenhower, the U.S. was "a beacon of tax justice.... The United States was the democracy with perhaps the most steeply progressive system of taxation on the planet."
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Casey Michel 🇰🇿 Feb 29
Replying to @cjcmichel
—The collapse in audits of the largest estate tax returns has been spectacular: "In 1975, the IRS audited 65% of the 29,000 largest estate tax returns filed in 1974. By 2018, only 8.6% of the 34,000 estate tax returns filed in 2017 were examined."
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Casey Michel 🇰🇿 Feb 29
Replying to @cjcmichel
—There was one year in American history when corporate income tax returns were made public: 1909, the year the corporate income tax was created. (Public disclosure was immediately repealed in 1910, and has remained private ever since.)
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Casey Michel 🇰🇿
—The US's "decline in the tax-to-GDP ratio of almost four percentage points over the course of two decades is an exceptional historical development... The US over the last twenty years is the first example of a large and sustained decline in the tax take in a developed country."
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Casey Michel 🇰🇿 Feb 29
Replying to @cjcmichel
—"Over the last decade, the IRS budget has decreased by over 20% adjusted for inflation.... The last time [the IRS] had fewer than 10,000 auditors [as we do now] was in the mid-1950s, when the US population was half what it is today."
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Casey Michel 🇰🇿 Feb 29
Replying to @cjcmichel
"What do we want?" "Eisenhower-era top marginal tax and corporate tax rates, trans-national financial information-sharing agreements, and increased IRS resources and enforcement!" "When do we want it?" "The next legislative session!" (Not an actual quote from the book.)
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Darrel Feb 29
Replying to @cjcmichel @emptywheel
If lowering taxes is the key to growth why don't Republicans go all the way and eliminate taxes entirely? That would lead to smaller government.
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ForkAllYall Feb 29
but it would defund the carcereal state and defense contractors plus the pointy end of the anti-immigrant spear, and leave anti-abortion and anti-contraception work in limbo it ain't smaller government that's actually on offer remember
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Flatten the fascism, not the webrant🕺------🕺 Feb 29
Replying to @cjcmichel @emptywheel
Sure, dramatic decline in tax-to-GDP ratio but what about the dramatic increase in yachts that contain smaller yachts?
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WorldofWardcraft Feb 29
Replying to @cjcmichel @emptywheel
That’s because we’re the only developed country where one of its major political parties is actively working to destroy its national government.
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I want ethical leaders Mar 2
Replying to @cjcmichel @emptywheel
And what little taxes the rich pay they do so by charitable deductions. Let’s build another building on Harvard’s campus!
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Donna Steffy Feb 29
Replying to @cjcmichel @emptywheel
// SPEAKING OF ALEX KARP IS A SEXUAL SADISTS> PETER THIEL SET ME UP IN A FIELD IN AUSTIN TEXAS>>next to a colored gent high on crack.. I was given a PARALYTIC AND HUNDREDS OF MOSQUITOES BIT ME>WHY?THIS IS THIEL>EUGENICIST THIEL>THEY TESTED EVERYTHING BUT
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Donna Steffy Feb 29
Replying to @cjcmichel @emptywheel
THE KITCHEN SINK ON ME>>ASK YOURSELF>>> WHY>>WHAT WAS THIEL TESTING>> AND THIS IS SO ILLEGAL>>EVERYTHING THEY DID TO ME WAS SO ILLEGAL>>NOT TO MENTION>>AN ATROCITY>> READ ALEX KARP'S THESIS ..about how committing atrocities brings a group closer together.. you know..the boyz that
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Asia1Roppongi Feb 29
Replying to @cjcmichel @emptywheel
With the simultaneous shredding of the safety net, and the social fabric.
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