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

[Toddsterpatriot]

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

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

Which "expenditures" (DURR) need to be removed

 

[Aldo Raine]

Write offs you drooling moron!!!

Deductions? You stupid twat.

Talking romantic to me will get you nowhere.
MAGA

 

[Toddsterpatriot]

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

And the Dems have been whining about that ever since.

 

[Toddsterpatriot]

Write offs you drooling moron!!!

Deductions? You stupid twat.

Talking romantic to me will get you nowhere.
MAGA

Neither will pointing out your idiocy.......

 

[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.

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

You just advocated for that "scam", Dumbass.

 

[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

You just advocated for that "scam", Dumbass.

Nope I am against all that stupid shit!
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?

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

You just advocated for that "scam", Dumbass.

Nope I am against all that stupid shit!
MAGA

Um, you just said you support getting rid of "expenditures", then it changed to "write off"...............which in reality is "deductions". Then you whined and cried because some of yours was done away with.

Typical Dimwinger hypocrite...............expect everyone else to lose their deductions as long as you keep yours.

 

[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.

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

Capital gains or unearned income isn't realized only after selling an asset.

It's also from dividends. Which are paid out every quarter.

It doesn't matter what the discretion of the company is. That has absolutely nothing to do with the taxes paid and the subject of the conversation. The money the company pays out in dividends/unearned income should be taxed at a much higher rate than it is now.

Right now the person who goes to work everyday to earn money is paying a higher income tax rate on their income than a filthy rich person who just waits around for that dividend check.

Most normal people believe that those who work should not pay a higher rate in taxes than those who are filthy rich and just live on that unearned income.

You don't understand what capital gains really are.

Take an economics class if you are going to try to talk about this subject because right now, you aren't doing very well.

 

[Papageorgio]

There are basically two types of money. Earned income, such as wages, and unearned income such as return on investments. The working class in America make earned income, which is taxed at the current rates that allow for limited deductions.

The unearned income is taxed at a much lower rate, has lots and lots of deductions and results in the rich getting to save more money and actually reduce their tax rates dramatically. When Trump cut taxes in 2017, his cuts helped more of the upper middle class and below, it really didn't help the very rich because, again, the rich make little in earned income. According to skews article the rich take salaries as stocks and dividends, again unearned income with little in tax and heavy on deductions.

A couple years ago the billionaires like Buffet, Gates and Soros were pushing for higher tax rates and were all good with "paying more" in taxes. That was because they were wanting earned income taxes to be raised. It was a dishonest position to appear that they were for giving more of their money away and being generous, it was a crock of crap. Those three make unearned or passive income, earned income is less that 1-2 percent of their yearly take.

Unearned or passive income is where the wealthy make 99% of their money. Buy and selling stock, stock dividends, real estate businesses and so on and so forth. If you really want to sock it to the rich we need to go after that income, unearned income. That is the money the rich have. Take away deductions like depreciation and losses, tax the unearned income at 35%, lower the earned income tax to 20% and the rich would pay more and the middle and poor classes would pay less.

The rich have a different mindset than most Americans, they believe saving money is risky and investing money is safe.

Change the way we tax and how and it will move the needle on who pays what and how much, until, that changes, nothing else will.

 

[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

You just advocated for that "scam", Dumbass.

Nope I am against all that stupid shit!
MAGA

Um, you just said you support getting rid of "expenditures", then it changed to "write off"...............which in reality is "deductions". Then you whined and cried because some of yours was done away with.

Typical Dimwinger hypocrite...............expect everyone else to lose their deductions as long as you keep yours.

Nope they should all be done away with including mine.
MAGA

 

[Toddsterpatriot]

The money the company pays out in dividends/unearned income should be taxed at a much higher rate than it is now.

What rate is it taxed at now? What rate should it be taxed at?

 

[Toddsterpatriot]

Right now the person who goes to work everyday to earn money is paying a higher income tax rate on their income

How much are they making? What rate are they paying?

Show some actual numbers. Your non-specific whines aren't helping your claims.

 

[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.

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

You just advocated for that "scam", Dumbass.

Nope I am against all that stupid shit!
MAGA

Um, you just said you support getting rid of "expenditures", then it changed to "write off"...............which in reality is "deductions". Then you whined and cried because some of yours was done away with.

Typical Dimwinger hypocrite...............expect everyone else to lose their deductions as long as you keep yours.

Nope they should all be done away with including mine.
MAGA

Oh. So you just whine and cry when it happens to you.......even though you want it to happen.

 

[Cecilie1200]

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?

There's nothing "blockbuster" about this story, to anyone who knows jack about basic economics.

Your "outrage" reveals nothing except that you're an asshat who lives paycheck to paycheck on minimum wage.

 

[Cecilie1200]

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?

Yeah, we're completely "down" with people only paying income tax when they actually have income. And we're completely not "down" with envious rubes like you feeling entitled to other people's wealth simply because you're mad that you're a loser.

 

[Cecilie1200]

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.

His masters just point him at a target and order him to be frothingly outraged at it. They don't bother to tell him WHY he should be outraged, or how to justify it when he inevitably runs into someone with a functioning brain.

 

[Cecilie1200]

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?

Saw that segment on CNN. Seems our tax system is set up to tax income, not wealth. So yup, a mechanic, plumber etc. pay more, percentage wise, in taxes than billionaires do. Since billionaires don't punch a clock for a living they avoid taxes. If you propose a wealth tax of say 10% to compensate for that, watch the republicans howl.

No, watch EVERYONE howl, just as soon as their ignorant, envy-ridden little selves realize that the pensions and 401k plans and IRAs they save for their retirement in are subject to the same laws they screeched for in order to punish those they were jealous of.

Dumbass.

 

[Cecilie1200]

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.

I like you how you just pulled that idea out of your ass. No wonder it's easy to fool poor white trash.

He didn't "pull" it from anywhere. It's a fact. A house is an investment asset, and for wage earners, it's usually the biggest asset they have. And a tax on wealth and assets DOES include the biggest asset most people have.

And I never wonder why it's easy to fool poor white trash; I only have to look at Democrat drones, and there the answer is.

 

[Cecilie1200]

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?

Saw that segment on CNN. Seems our tax system is set up to tax income, not wealth. So yup, a mechanic, plumber etc. pay more, percentage wise, in taxes than billionaires do. Since billionaires don't punch a clock for a living they avoid taxes. If you propose a wealth tax of say 10% to compensate for that, watch the republicans howl.

47% of wage earners pay zero income taxes.

Wow..how do they avoid federal tax and FICA deductions every paycheck.?

Have you really not ever had this explained to you, or are you just pretending to be this clueless?

 

[Dayton3]

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

Why don't you believe they've worked hard for their money?