Profile picture
Matthew Gertz
@MattGertz
, 3 tweets, 2 min read Read on Twitter
Love all the native advertising about the need for wealth taxes and higher marginal income tax brackets.
tbh this whole section should be reported as an in-kind donation to the Warren campaign.
Why should I, a normal person who definitely should not face a higher tax bill, spend $240 million on a NYC penthouse when I could instead buy 2 Monte Carlo Pink Mansions or both three "gigantic quail plantations in Georgia" AND three San Francisco penthouses?
Missing some Tweet in this thread?
You can try to force a refresh.

Like this thread? Get email updates or save it to PDF!

Subscribe to Matthew Gertz
Profile picture

Get real-time email alerts when new unrolls are available from this author!

This content may be removed anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

More from @MattGertz see all

Profile picture
Matthew Gertz
@MattGertz
He's going to do the whole speech with an off-center tie isn't he.
I really can't focus on the speech under these conditions.
How much does Mike Pence have to hate Trump to not tell him right before the speech started?
Read 3 tweets
Profile picture
Matthew Gertz
@MattGertz
Lou Dobbs, a close Trump ally who advised him during the shutdown and has spent weeks urging him to declare a national emergency to get wall funding, is now attacking Mitch McConnell and the "RINO Resistance" arguing against the move. mediamatters.org/blog/2019/02/0…
Video here:
Here's Dobbs going off on the "riven" GOP, slamming Mitch McConnell for "warning the president of what he can do and can't do," and demanding someone be "held accountable for the derision of this president, because we're looking at a historic figure."
Read 3 tweets
Profile picture
Matthew Gertz
@MattGertz
PASS.
I've watched a lot of terrible, terrible things for this organization, but there is no power on this earth that can make me watch this.
Folks.
Read 3 tweets

Related threads

Profile picture
Good Governance 🇮🇳
@sri9011
Jobs plan is missing link in Modi's Interim Budget amid drama over data ecoti.in/pvIWJb64 (Job plan is already there since 2016 Budget. It is called #Section80JJAA of Income-Tax Act,1961. Section was rewritten to extend tax incentives for job creation to all sectors. )
That section allows employer to claim additional 30% deduction for wages paid to new employees. This is in addition to 100% of wages deduction under section 37 of the Act. Earlier, section applied to corporates in manufacturing sector,
In 2016, Modi Govt liberated the section from needless fetters imposed by UPA in 2013 and rewrote it to extend it to formal job creation in all sectors whether employer be corporate or non-corporate
Read 9 tweets
Profile picture
Baba97
@Baba9773
1) I LAUGHED My Ass Off When Reading About the $2.8 Billion Revenue Shortfall For NY State

The chickens are coming home to roost! PDJT finally got rid of the loophole that many of the Blue States have taken advantage of for decades to offset their ridiculous state and in some
2) locations, local taxes.

I happen to live in NYC. I filed my return the other day and saw ~ $2K reduction in my federal refund from the previous year. My accountant decided to blame the President. I shocked him when I said I applaud the President for his Tax Reform Bill
3) because the blame goes to the Morons that call themselves the Governor and Mayor of NYS and NYC.



From the article linked above:

New York governor Andrew Cuomo announced Monday that the state is facing a $2.3 billion tax-revenue shortfall, and argued
Read 13 tweets
Profile picture
DCPetterson
@dcpetterson
In the 1950's, the top marginal income tax rate was over 90%.

No millionaire EVER said, "I don't think I"ll bother to make another million dollars, because my taxes are too high." Not. One. Ever.
In the 1950's, the corporate income tax rate was over 50%.

No corporate CEO EVER said, "I don't think I"ll bother to reinvest in my company, because corporate taxes are too high." Not. One. Ever.
In the 1950's, the estate tax rate (inheritance tax) on multi-million-dollar estates was almost 80%.

No rich family EVER said, "I don't think I'll bother to amass a bunch of money to pass on to my kids because inheritance taxes are too high." Not. One. Ever.
Read 8 tweets
Profile picture
Beatrice Cherrier
@Undercoverhist
1/Recent Saez/Zucman on 70% top marginal income rate has been met w/ similar reactions by several econs (see and gregmankiw.blogspot.com/2019/01/who-is… ).

I don't understand how they draw clear separation b/w “economic” & “political” argument, so help me figure out
2/ Mirrlees’s work (hailed by Mankiw as “econ”) used theoretical argument to make *normative* point that planner maximizing social welfare function (very specific type of social goal embodying very specific def of fairness) in specific env shouldn't implement prog income tax.
3/Saez/Zucman use econ history argument to make *positive* point that US high mg income tax rate was successfully implemented since 30s to quell inequality w/o hurting growth, *normative* point that it’s good goal, *political* point that it safeguards democracy against oligarchy
Read 15 tweets
Profile picture
Alt WASO NPS
@AltWASONPS
Some of the tax laws can be complex, so let me provide you with a simple example of how tax avoidance and tax evasion works.

(Thread)
First I'm not going to get into the intricacies of what is legal and what is not. Instead, I'm going to show you how it works.

Now let's take a look at the corporate income tax brackets from 2017. I'm intentionally using an older year as the older rates amplified the effect.
Now, let's assume for a moment that I have a business that makes $300,000 a year in profit. My total gross income (what I make before paying bills, employees, etc.) doesn't matter.

What does matter though is that I'm in a 39% tax bracket. This sucks... So let's get creative.
Read 15 tweets
Profile picture
Antonello Guerrera
@antoguerrera
Hello all, as this can be a crucial day for the new (populist) #Italy government I am now going to tweet a short thread on it, focusing especially on the (almost ready) M5S-LEGA agenda. At least 70 billions of additional debt are expected. How will Europe react? THREAD 🇮🇹
1. As I have been personally saying since the first election results (see here ) and despite a broad general skepticism on it in #Italy, a LEGA-M5S government was the only possible, given the circumstances after the vote. So, now we are very close to it.
2. Five Stars Movement (M5S) leader Di Maio and LEGA leader Salvini have been negotiating for days on a coalition contract (like in Germany). There have reportedly agreed on many points (we'll see later). But the big hurdle is: who is going to be the new Prime Minister?
#Italy
Read 34 tweets

Trending hashtags

#MuellerReport #ProLife #ArmsServicesCommittee #opendara #SOTUGuests #aajafreelance #TwitterBanners #BuildAWallAndCrimeWillFall #Uri #jobs #RickPerry #abolishDHS #MadeInTheImageOfGod #PreSOTU #bigdara #SaveTheBabies #EpsteinIsland #bigdat #AuditPlannedParenthood #freelancing #MissileMarkerConfirmed #PopeTweet #ElizabethWarren #smarticities #taxtwitter
Follow Us on Twitter!

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!