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

[Dana7360]

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.

The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax

ProPublica has obtained a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing.

www.propublica.org

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

who is more likely to give you a job...some worthless welfare lifer...or a billionaire

Your post is so ridiculous.

Billionaires don't create jobs at the same rate as middle class small business people.

Small business is the backbone of our economy. It always has been and always will be.

A middle class small business owners hire more people than billionaires.

Yes, millions of people are hired and paid a living wage by middle class small business owners.

The filthy rich don't pay their fair share in taxes in this nation. Our nation can't pay our bills or properly maintain our infrastructure yet you don't want the filthy rich to pay their fair share and use such totally lame excuses to do it.

Bite me.

 

[Nostra]

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.

The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax

ProPublica has obtained a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing.

www.propublica.org

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

As a wage earner myself I can still say, I am not a hypocrite.

The rich can afford tax attorneys and legal advice to not pay taxes within the law. If I could afford to not pay taxes i would do exactly the same thing because I am not a hypocrite. No one here, not even you, would pay taxes if they were able to not to. No one wants to pay taxes.

The rich can afford things I can't. Trips around the world, fancy cars, nice houses, and the ability to pay little to no taxes. It's a perk of being rich. Hell I'm middle class and I can do a lot of things poor people can't afford to do. It's the way things go.

Not arguing those points, arguing about fixing a tax system that is broken and in favor of the uber wealthy and corporations.
MAGA

Flat tax. Everyone pays the exact same out of every dollar they earn.

What could be more "fair" than that?

 

[Nostra]

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.

The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax

ProPublica has obtained a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing.

www.propublica.org

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

who is more likely to give you a job...some worthless welfare lifer...or a billionaire

Your post is so ridiculous.

Billionaires don't create jobs at the same rate as middle class small business people.

Small business is the backbone of our economy. It always has been and always will be.

A middle class small business owners hire more people than billionaires.

Yes, millions of people are hired and paid a living wage by middle class small business owners.

The filthy rich don't pay their fair share in taxes in this nation. Our nation can't pay our bills or properly maintain our infrastructure yet you don't want the filthy rich to pay their fair share and use such totally lame excuses to do it.

Bite me.

Define "fair share". Be specific. Give a percentage of the total tax bill you think the rich should pay. Make sure you define "rich" using numbers.

 

[Dana7360]

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.

The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax

ProPublica has obtained a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing.

www.propublica.org

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

You do understand that a person's net worth is not the same as that person's income don't you?

And anyone can hold their assets on stocks and bonds but that doesn't avoid taxes it merely delays them until a profit or loss is realized from the sale of those assets.

Unearned income is paid out quarterly.

The tax rate on unearned income is much lower than it is on earned income that people work to earn.

Unearned income on assets is realized every 3 months and should be taxed at a much higher rate than earned income.

It was taxed at a much higher rate than earned income before reagan. It didn't harm business or the rich. On top of that, the nation had the money to pay our bills and invest in our nation.

Ever since the reagan revolution of no regulation and very low taxes on business our nation has been going downhill to the point now that our infrastructure is obsolete and falling apart and we have a deficit and debt that are astronomical.

You need to learn about common stock. Every 3 months unearned income in the form of dividends are paid out.

 

[skews13]

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.

The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax

ProPublica has obtained a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing.

www.propublica.org

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

The US FPTP system just encourages rich people to control the US. Democracy? No, there's no democracy.

The most prosperous time has n America was between 1945-1980. The corporate, and upper tax brackets were much higher. We already have an historical record for low debt, middle class prosperity.

It isn’t any tax or regulatory policies after 1980.

 

[Nostra]

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.

The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax

ProPublica has obtained a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing.

www.propublica.org

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

The US FPTP system just encourages rich people to control the US. Democracy? No, there's no democracy.

The most prosperous time has n America was between 1945-1980. The corporate, and upper tax brackets were much higher. We already have an historical record for low debt, middle class prosperity.

It isn’t any tax or regulatory policies after 1980.

Nobody paid those higher tax brackets because there were a shit-ton of deductions.

Why not a flat tax? Everyone pays the same rate on every dollar earned.

What could be more "fair" than that?

 

[Toddsterpatriot]

The filthy rich don't pay their fair share in taxes in this nation.

Link?

 

[Toddsterpatriot]

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.

The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax

ProPublica has obtained a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing.

www.propublica.org

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

You do understand that a person's net worth is not the same as that person's income don't you?

And anyone can hold their assets on stocks and bonds but that doesn't avoid taxes it merely delays them until a profit or loss is realized from the sale of those assets.

Unearned income is paid out quarterly.

The tax rate on unearned income is much lower than it is on earned income that people work to earn.

Unearned income on assets is realized every 3 months and should be taxed at a much higher rate than earned income.

It was taxed at a much higher rate than earned income before reagan. It didn't harm business or the rich. On top of that, the nation had the money to pay our bills and invest in our nation.

Ever since the reagan revolution of no regulation and very low taxes on business our nation has been going downhill to the point now that our infrastructure is obsolete and falling apart and we have a deficit and debt that are astronomical.

You need to learn about common stock. Every 3 months unearned income in the form of dividends are paid out.

The tax rate on unearned income is much lower than it is on earned income that people work to earn.

Show me some income levels of those people who work, and then show me the rate they pay.

It was taxed at a much higher rate than earned income before reagan.

Can you prove it?

Ever since the reagan revolution of no regulation and very low taxes on business

What was the very low tax rate on businesses under Reagan?

 

[Aldo Raine]

Paying taxes is the most patriotic thing I do.

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.

The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax

ProPublica has obtained a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing.

www.propublica.org

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

As a wage earner myself I can still say, I am not a hypocrite.

The rich can afford tax attorneys and legal advice to not pay taxes within the law. If I could afford to not pay taxes i would do exactly the same thing because I am not a hypocrite. No one here, not even you, would pay taxes if they were able to not to. No one wants to pay taxes.

The rich can afford things I can't. Trips around the world, fancy cars, nice houses, and the ability to pay little to no taxes. It's a perk of being rich. Hell I'm middle class and I can do a lot of things poor people can't afford to do. It's the way things go.

Not arguing those points, arguing about fixing a tax system that is broken and in favor of the uber wealthy and corporations.
MAGA

The rich pay higher rates than you do. Fact.

Not after their expenditures, FACT!!!
MAGA

 

[Aldo Raine]

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.

The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax

ProPublica has obtained a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing.

www.propublica.org

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

As a wage earner myself I can still say, I am not a hypocrite.

The rich can afford tax attorneys and legal advice to not pay taxes within the law. If I could afford to not pay taxes i would do exactly the same thing because I am not a hypocrite. No one here, not even you, would pay taxes if they were able to not to. No one wants to pay taxes.

The rich can afford things I can't. Trips around the world, fancy cars, nice houses, and the ability to pay little to no taxes. It's a perk of being rich. Hell I'm middle class and I can do a lot of things poor people can't afford to do. It's the way things go.

Not arguing those points, arguing about fixing a tax system that is broken and in favor of the uber wealthy and corporations.
MAGA

Flat tax. Everyone pays the exact same out of every dollar they earn.

What could be more "fair" than that?

I am all for it, but only if you get rid of expenditures as well.
MAGA

 

[Nostra]

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.

The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax

ProPublica has obtained a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing.

www.propublica.org

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

As a wage earner myself I can still say, I am not a hypocrite.

The rich can afford tax attorneys and legal advice to not pay taxes within the law. If I could afford to not pay taxes i would do exactly the same thing because I am not a hypocrite. No one here, not even you, would pay taxes if they were able to not to. No one wants to pay taxes.

The rich can afford things I can't. Trips around the world, fancy cars, nice houses, and the ability to pay little to no taxes. It's a perk of being rich. Hell I'm middle class and I can do a lot of things poor people can't afford to do. It's the way things go.

Not arguing those points, arguing about fixing a tax system that is broken and in favor of the uber wealthy and corporations.
MAGA

Flat tax. Everyone pays the exact same out of every dollar they earn.

What could be more "fair" than that?

I am all for it, but only if you get rid of expenditures as well.
MAGA

Expenditures? WTF are you babbling about?

 

[Aldo Raine]

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.

The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax

ProPublica has obtained a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing.

www.propublica.org

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

As a wage earner myself I can still say, I am not a hypocrite.

The rich can afford tax attorneys and legal advice to not pay taxes within the law. If I could afford to not pay taxes i would do exactly the same thing because I am not a hypocrite. No one here, not even you, would pay taxes if they were able to not to. No one wants to pay taxes.

The rich can afford things I can't. Trips around the world, fancy cars, nice houses, and the ability to pay little to no taxes. It's a perk of being rich. Hell I'm middle class and I can do a lot of things poor people can't afford to do. It's the way things go.

Not arguing those points, arguing about fixing a tax system that is broken and in favor of the uber wealthy and corporations.
MAGA

Flat tax. Everyone pays the exact same out of every dollar they earn.

What could be more "fair" than that?

I am all for it, but only if you get rid of expenditures as well.
MAGA

Expenditures? WTF are you babbling about?

Write offs you drooling moron!!!
MAGA

 

[Blues Man]

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.

The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax

ProPublica has obtained a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing.

www.propublica.org

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

You do understand that a person's net worth is not the same as that person's income don't you?

And anyone can hold their assets on stocks and bonds but that doesn't avoid taxes it merely delays them until a profit or loss is realized from the sale of those assets.

Unearned income is paid out quarterly.

The tax rate on unearned income is much lower than it is on earned income that people work to earn.

Unearned income on assets is realized every 3 months and should be taxed at a much higher rate than earned income.

It was taxed at a much higher rate than earned income before reagan. It didn't harm business or the rich. On top of that, the nation had the money to pay our bills and invest in our nation.

Ever since the reagan revolution of no regulation and very low taxes on business our nation has been going downhill to the point now that our infrastructure is obsolete and falling apart and we have a deficit and debt that are astronomical.

You need to learn about common stock. Every 3 months unearned income in the form of dividends are paid out.

You don't realize any capital gains until you actually sell an asset. And dividends are paid at the discretion of the corporation

 

[Toddsterpatriot]

Not after their expenditures,

Expenditures are mentioned in the tax code? LOL!

 

[Nostra]

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.

The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax

ProPublica has obtained a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing.

www.propublica.org

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

As a wage earner myself I can still say, I am not a hypocrite.

The rich can afford tax attorneys and legal advice to not pay taxes within the law. If I could afford to not pay taxes i would do exactly the same thing because I am not a hypocrite. No one here, not even you, would pay taxes if they were able to not to. No one wants to pay taxes.

The rich can afford things I can't. Trips around the world, fancy cars, nice houses, and the ability to pay little to no taxes. It's a perk of being rich. Hell I'm middle class and I can do a lot of things poor people can't afford to do. It's the way things go.

Not arguing those points, arguing about fixing a tax system that is broken and in favor of the uber wealthy and corporations.
MAGA

Flat tax. Everyone pays the exact same out of every dollar they earn.

What could be more "fair" than that?

I am all for it, but only if you get rid of expenditures as well.
MAGA

Expenditures? WTF are you babbling about?

Write offs you drooling moron!!!
MAGA

Hmmmmm....................how many 'write offs' are there for wage earners? There are a few for the self employed.

Perhaps you are thinking of deductions.

 

[Toddsterpatriot]

Write offs you drooling moron!!!

Deductions? You stupid twat.

 

[Toddsterpatriot]

You don't realize any capital gains until you actually sell an asset. And dividends are paid at the discretion of the corporation

Not to mention taxing dividends is taxing corporate earnings a second time.

 

[Aldo Raine]

Not after their expenditures,

Expenditures are mentioned in the tax code? LOL!

That's why they need changed. It lowers the efffective tax rate. In some cases Bigly.
MAGA

 

[Mac-7]

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.

The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax

ProPublica has obtained a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing.

www.propublica.org

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

Its called an Income Tax for a reason

Common joe’s work for wages - ie income

The rich live off their investments which is taxed at a lower rate

If not where would new businesses find the capital to start up?

 

[Aldo Raine]

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.

The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax

ProPublica has obtained a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing.

www.propublica.org

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

As a wage earner myself I can still say, I am not a hypocrite.

The rich can afford tax attorneys and legal advice to not pay taxes within the law. If I could afford to not pay taxes i would do exactly the same thing because I am not a hypocrite. No one here, not even you, would pay taxes if they were able to not to. No one wants to pay taxes.

The rich can afford things I can't. Trips around the world, fancy cars, nice houses, and the ability to pay little to no taxes. It's a perk of being rich. Hell I'm middle class and I can do a lot of things poor people can't afford to do. It's the way things go.

Not arguing those points, arguing about fixing a tax system that is broken and in favor of the uber wealthy and corporations.
MAGA

Flat tax. Everyone pays the exact same out of every dollar they earn.

What could be more "fair" than that?

I am all for it, but only if you get rid of expenditures as well.
MAGA

Expenditures? WTF are you babbling about?

Write offs you drooling moron!!!
MAGA

Hmmmmm....................how many 'write offs' are there for wage earners? There are a few for the self employed.

Perhaps you are thinking of deductions.

I know the latest tax scam that passed got rid of several of mine.
MAGA