2 Million Households Now Owe $15 Billion in Back Rent

[gipper]

We all know you’re a Bernie Commie, and Bernie has also spent decades passing those tax laws you’re whining about.
I bet Bernie doesn’t pay more than 5% on his wealth.

READ…

Consider Bezos’ 2007, one of the years he paid zero in federal income taxes. Amazon’s stock more than doubled. Bezos’ fortune leapt $3.8 billion, according to Forbes, whose wealth estimates are widely cited. How did a person enjoying that sort of wealth explosion end up paying no income tax?

Jeff Bezos
Amazon.com Inc.
2014-2018 Wealth Growth:
$99.0B
Total Income Reported:
$4.22B (4.26% of wealth)
Total Taxes Paid:
$973M (0.98% of wealth)
In that year, Bezos, who filed his taxes jointly with his then-wife, MacKenzie Scott, reported a paltry (for him) $46 million in income, largely from interest and dividend payments on outside investments. He was able to offset every penny he earned with losses from side investments and various deductions, like interest expenses on debts and the vague catchall category of “other expenses.”

 

[B. Kidd]

Pawn shops don't take participation trophy's.
Evicted!!
Next...

 

[Toddsterpatriot]

A tax rate of 3.4%. Yippee!!!


America’s billionaires avail themselves of tax-avoidance strategies beyond the reach of ordinary people. Their wealth derives from the skyrocketing value of their assets, like stock and property. Those gains are not defined by U.S. laws as taxable income unless and until the billionaires sell.

To capture the financial reality of the richest Americans, ProPublica undertook an analysis that has never been done before. We compared how much in taxes the 25 richest Americans paid each year to how much Forbes estimated their wealth grew in that same time period.

We’re going to call this their true tax rate.

The results are stark. According to Forbes, those 25 people saw their worth rise a collective $401 billion from 2014 to 2018. They paid a total of $13.6 billion in federal income taxes in those five years, the IRS data shows. That’s a staggering sum, but it amounts to a true tax rate of only 3.4%.

A tax rate of 3.4%. Yippee!!!

True tax? That's hilarious!!!

America’s billionaires avail themselves of tax-avoidance strategies beyond the reach of ordinary people. Their wealth derives from the skyrocketing value of their assets, like stock and property. Those gains are not defined by U.S. laws as taxable income unless and until the billionaires sell.

That's outrageous!!

I also avoid taxes on my unrealized capital gains......wait......DURR

We compared how much in taxes the 25 richest Americans paid each year to how much Forbes estimated their wealth grew in that same time period.

We mixed apples and oranges, so we could whine.

 

[Toddsterpatriot]

Bezos’ fortune leapt $3.8 billion, according to Forbes, whose wealth estimates are widely cited. How did a person enjoying that sort of wealth explosion end up paying no income tax?

Wealth isn't income. We don't have a wealth tax.

 

[gipper]

We have an income tax system. Unrealized gains are not income.

How convenient for billionaires. Dumb cons think this is WONDERFUL!!!

The consequences of allowing the most prosperous to game the tax system have been profound. Federal budgets, apart from military spending, have been constrained for decades. Roads and bridges have crumbled, social services have withered and the solvency of Social Security and Medicare is perpetually in question.

There is an even more fundamental issue than which programs get funded or not: Taxes are a kind of collective sacrifice. No one loves giving their hard-earned money to the government. But the system works only as long as it’s perceived to be fair.

Our analysis of tax data for the 25 richest Americans quantifies just how unfair the system has become.

By the end of 2018, the 25 were worth $1.1 trillion

 

[gipper]

Wealth isn't income. We don't have a wealth tax.

How nice for billionaires.

 

[Mac-7]

The leaders in their State government are..... They provide the leadership, the grunts do the he work...

Bullshit

no one can fire a civil servant

at state and local level they are just baby Deep Staters who do as they please

and most of them are democrats

 

[Toddsterpatriot]

How convenient for billionaires. Dumb cons think this is WONDERFUL!!!

It's alway been that way. Only dumb twats don't know that.

By the end of 2018, the 25 were worth $1.1 trillion

And then they'll die and take it with them, eh?

 

[Toddsterpatriot]

How nice for billionaires.

You should write your representatives.

 

[Weatherman2020]

READ…

Consider Bezos’ 2007, one of the years he paid zero in federal income taxes. Amazon’s stock more than doubled. Bezos’ fortune leapt $3.8 billion, according to Forbes, whose wealth estimates are widely cited. How did a person enjoying that sort of wealth explosion end up paying no income tax?

Jeff Bezos
Amazon.com Inc.
2014-2018 Wealth Growth:
$99.0B
Total Income Reported:
$4.22B (4.26% of wealth)
Total Taxes Paid:
$973M (0.98% of wealth)
In that year, Bezos, who filed his taxes jointly with his then-wife, MacKenzie Scott, reported a paltry (for him) $46 million in income, largely from interest and dividend payments on outside investments. He was able to offset every penny he earned with losses from side investments and various deductions, like interest expenses on debts and the vague catchall category of “other expenses.”

Good for him taking advantage of the tax laws passed by Bernie and Biden.

 

[Weatherman2020]

You should write your representatives.

AOC will get right on it.

 

[gipper]

Good for him taking advantage of the tax laws passed by Bernie and Biden.

And the rest of the Ds and Rs. No difference between the two criminal gangs, but you wingers can’t see it.

 

[gipper]

You should write your representatives.

Yeah that works, but only in the minds of dumb wingers.

 

[Adrenochrome Junkie]

Most of these people are Democrat voters.

Democrats live off the government

Evict them now. They have no problem living in a tent and shitting on the sidewalk

 

[badger2]

One of the reasons why the public outcry over the pandemic restrictions has been so muted is that the full costs of the lockdowns are often obscured by government edicts that prevent markets from making those costs known. Last weekend the socialist experiment of free rent ended.


As many as 1.95 million households across America owed a collective $15 billion in back rent when a nationwide eviction moratorium expired this weekend, according to Federal Reserve Bank of Philadelphia estimates.

That number will reach 2 million by December, according to the report released Friday. In Pennsylvania, about 60,000 renter households will owe $412 million come August.

Nearly 2 million households owe $15 billion in back rent as eviction moratorium expires

The Supreme Court ruled that “clear and specific congressional authorization, via new legislation would be necessary” for another extension.

justthenews.com

All according to plan.

“Hey, let’s give everyone enough money to pay their rents. At the same time, we will tell them they cannot be evicted for not paying their rent”

They knew exactly what they were doing. Setting a timer, on a bomb.

There will be few rentals in the future, only an idiot would take the gamble the government won’t do it again. I am laughing at all the millennials with no affordable rentals available who think socialism works.

It’s not wise to compare socialism in America that’s been traumatized by the commie virus. You should be more interested in why the Chinese are still playing hide-and-seek with the origins of their two-population virus. One of those populations, the one that has been mutating in nature, is about to make its expression in (American wildlife [italics]). Reverse zoonosis, with the possibility of establishing COVID-19 in American animals, which will be what the commies wanted: perpetual chaos. The rent moratorium was a necessary humanitarian gesture. Housing worldwide is unaffordable. This is from not opposing the Rent Pimp’s capitalist profits, profits that have an intimate relationship to the schizophrenic process.

 

[Toddsterpatriot]

Yeah that works, but only in the minds of dumb wingers.

Or you could just keep whining about it.....LOL!

 

[gipper]

Or you could just keep whining about it.....LOL!

And you will keep lying about it.

 

[Toddsterpatriot]

And you will keep lying about it.

I would never lie about your constant whining.

 

[gipper]

I would never lie about your constant whining.

You always lie. I never whine.

 

[Toddsterpatriot]

You always lie. I never whine.

LOL!

Damn, you funny!