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21 Millionaires In Congress Helped 25 Billionaires Pay Almost Nothing In Taxes

skews13

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Propublica is out with another blockbuster story on the IRS and who isn't paying their taxes—25 billionaires, among the world's richest people, one of whom even manipulated the system so much he got a $4,000 tax credit for his children.

The consequences are stark. As of 2018, the 25 billionaires were collectively worth $1.1 trillion. It would require the combined wealth of 14.3 million regular wage earners to equal that. Those wage earners paid $143 billion in taxes in 2018. Those holding $1.1 trillion that year paid $1.9 billion. Here's the really frustrating part: "billionaires don’t have to evade taxes exotically and illicitly — they can avoid them routinely and legally." They hold their wealth in dividends, stocks, bonds, and other investments that are taxed at lower rates than wages.


So wage earners should pay more in taxes than billionaires? 100 times more?
 

theHawk

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Propublica is out with another blockbuster story on the IRS and who isn't paying their taxes—25 billionaires, among the world's richest people, one of whom even manipulated the system so much he got a $4,000 tax credit for his children.

The consequences are stark. As of 2018, the 25 billionaires were collectively worth $1.1 trillion. It would require the combined wealth of 14.3 million regular wage earners to equal that. Those wage earners paid $143 billion in taxes in 2018. Those holding $1.1 trillion that year paid $1.9 billion. Here's the really frustrating part: "billionaires don’t have to evade taxes exotically and illicitly — they can avoid them routinely and legally." They hold their wealth in dividends, stocks, bonds, and other investments that are taxed at lower rates than wages.


So wage earners should pay more in taxes than billionaires? 100 times more?
How much “income” do these billionaires make each year?
 

Toddsterpatriot

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Propublica is out with another blockbuster story on the IRS and who isn't paying their taxes—25 billionaires, among the world's richest people, one of whom even manipulated the system so much he got a $4,000 tax credit for his children.

The consequences are stark. As of 2018, the 25 billionaires were collectively worth $1.1 trillion. It would require the combined wealth of 14.3 million regular wage earners to equal that. Those wage earners paid $143 billion in taxes in 2018. Those holding $1.1 trillion that year paid $1.9 billion. Here's the really frustrating part: "billionaires don’t have to evade taxes exotically and illicitly — they can avoid them routinely and legally." They hold their wealth in dividends, stocks, bonds, and other investments that are taxed at lower rates than wages.


So wage earners should pay more in taxes than billionaires? 100 times more?

Those holding $1.1 trillion that year paid $1.9 billion.

We don't have a tax on "holding" money.
 

theHawk

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The OP thinks we should tax people based on their asset values going up, even if they don’t sell and actually make any money.

That would mean every home owner would have to pay a tax on the estimated home value increase each year, even if they don’t sell. That would bankrupt everyone real quick.
 

andaronjim

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Propublica is out with another blockbuster story on the IRS and who isn't paying their taxes—25 billionaires, among the world's richest people, one of whom even manipulated the system so much he got a $4,000 tax credit for his children.

The consequences are stark. As of 2018, the 25 billionaires were collectively worth $1.1 trillion. It would require the combined wealth of 14.3 million regular wage earners to equal that. Those wage earners paid $143 billion in taxes in 2018. Those holding $1.1 trillion that year paid $1.9 billion. Here's the really frustrating part: "billionaires don’t have to evade taxes exotically and illicitly — they can avoid them routinely and legally." They hold their wealth in dividends, stocks, bonds, and other investments that are taxed at lower rates than wages.


So wage earners should pay more in taxes than billionaires? 100 times more?
Biden Exploited Tax Loophole on Book Income
Former Vice President Joe Biden, who is running for president in 2020, used a tax strategy former President Barack Obama likely would not have approved of.
Biden released additional years’ worth of tax returns this week, revealing that he and his wife funneled profits from their books and speeches through S corporations, as first noted by The Wall Street Journal. The controversial tax savings strategy – which Obama had tried to close – saved the couple as much as $500,000.
Now i am not bitching about wealthy people not paying so much of their income in to a bloated government, because i use every tax loophole given me just like Joe here. If you cant figure how to not pay so much in taxes, then you are an idiot....

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skews13

skews13

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The OP thinks we should tax people based on their asset values going up, even if they don’t sell and actually make any money.

That would mean every home owner would have to pay a tax on the estimated home value increase each year, even if they don’t sell. That would bankrupt everyone real quick.

Got it. You're down for wage earners paying $143 billion in taxes while billionaires pay $1.9.

I guess this means you think someone worth a thousand million several times over, should actually get a credit right? Because they would go broke if they didnt?

That the story you're sticking with?
 

theHawk

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The OP thinks we should tax people based on their asset values going up, even if they don’t sell and actually make any money.

That would mean every home owner would have to pay a tax on the estimated home value increase each year, even if they don’t sell. That would bankrupt everyone real quick.

Got it. You're down for wage earners paying $143 billion in taxes while billionaires pay $1.9.

I guess this means you think someone worth a thousand million several times over, should actually get a credit right? Because they would go broke if they didnt?

That the story you're sticking with?

These so-called billionaires aren’t wage earners. They have no income to be taxed. Their “value” is an estimate if they were to sell their assets, which they rarely do. When they do, then they are taxed.
 

bear513

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The OP thinks we should tax people based on their asset values going up, even if they don’t sell and actually make any money.

That would mean every home owner would have to pay a tax on the estimated home value increase each year, even if they don’t sell. That would bankrupt everyone real quick.

Got it. You're down for wage earners paying $143 billion in taxes while billionaires pay $1.9.

I guess this means you think someone worth a thousand million several times over, should actually get a credit right? Because they would go broke if they didnt?

That the story you're sticking with?

The key word is holding
 

initforme

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You idiots act like electing wealthy people is great. I blame all of you.
 

initforme

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Uber wealthy people have zero clue what average workers go through. Yet we elect them. It's truly a phenomena. I'm waiting for a poor fella to run and make the wealthy shudder.
 

JWBooth

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21 Millionaires In Congress Helped 25 Billionaires Pay Almost Nothing In Taxes​

Excellent!
 

initforme

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They've worked sooooooo hard for their money.....that is funny.
 

theHawk

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You're down for wage earners paying $143 billion in taxes while billionaires pay $1.9.

We tax income, not wealth.

How much did the billionaires earn in income?
Notice he refuses to answer the question.

That is if course because his spoon fed propaganda doesn’t ask that question either, much less answer it.
 

andaronjim

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The OP thinks we should tax people based on their asset values going up, even if they don’t sell and actually make any money.

That would mean every home owner would have to pay a tax on the estimated home value increase each year, even if they don’t sell. That would bankrupt everyone real quick.

Got it. You're down for wage earners paying $143 billion in taxes while billionaires pay $1.9.

I guess this means you think someone worth a thousand million several times over, should actually get a credit right? Because they would go broke if they didnt?

That the story you're sticking with?
quote-i-have-never-understood-why-it-is-greed-to-want-to-keep-the-money-you-have-earned-but-th...jpg
 

andaronjim

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The OP thinks we should tax people based on their asset values going up, even if they don’t sell and actually make any money.

That would mean every home owner would have to pay a tax on the estimated home value increase each year, even if they don’t sell. That would bankrupt everyone real quick.

Got it. You're down for wage earners paying $143 billion in taxes while billionaires pay $1.9.

I guess this means you think someone worth a thousand million several times over, should actually get a credit right? Because they would go broke if they didnt?

That the story you're sticking with?

These so-called billionaires aren’t wage earners. They have no income to be taxed. Their “value” is an estimate if they were to sell their assets, which they rarely do. When they do, then they are taxed.
Back before Woodrow Wilson reenacted the income tax to pay for his war, the tax revenues to the government came from Alcohol taxes...Can you believe that? But good ole Racist Woody, he had to keep the income tax along with the alcohol tax, so the government can continue to grow, while dumbfucks like skews here, gets the royal shaft.. Stop bitching about wealthy people, and make your self rich..Right Skews?
 
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skews13

skews13

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The OP thinks we should tax people based on their asset values going up, even if they don’t sell and actually make any money.

That would mean every home owner would have to pay a tax on the estimated home value increase each year, even if they don’t sell. That would bankrupt everyone real quick.

Got it. You're down for wage earners paying $143 billion in taxes while billionaires pay $1.9.

I guess this means you think someone worth a thousand million several times over, should actually get a credit right? Because they would go broke if they didnt?

That the story you're sticking with?

These so-called billionaires aren’t wage earners. They have no income to be taxed. Their “value” is an estimate if they were to sell their assets, which they rarely do. When they do, then they are taxed.

So called billionaires?
 

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