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

[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.

yep. They’re the most unAmerican traitors among us. The true enemy within. The Constitution very specifically directs Congress to lay and collect taxes. Not paying them is not an option, because you don’t like to pay them.

Whats interesting is half the morons in this thread think billionaires cheating their way out of not paying them, is a winning issue for them.

No, what's interesting is all the ACTUAL morons in this thread think that it's "cheating" if someone has more money than them, or pays less than what satisfies their own vindictiveness.

 

[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?

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?

Not to mention that there are a lot of people who AREN'T rich who have and depend on investments. Retirees, for example. All those people out there swallowing down bile at the thought of "rich people" - by which they mean anyone who isn't a loser schlub like them - forget that any punitive taxes they levy on capital gains or investments is going to hit their own grandparents, too.

 

[Nostra]

There are about 60 billionaires in the US. If you took $1 Billion from each of them that would only be $60 Billion.

Veggie Joe pisses that away before he shits his depends in the morning.

 

[Toddsterpatriot]

There are about 60 billionaires in the US. If you took $1 Billion from each of them that would only be $60 Billion.

Veggie Joe pisses that away before he shits his depends in the morning.

Forbes says there are 724.

Forbes Billionaires 2023: The Richest People In The World

Forbes presents the 2023 World's Billionaires List. View the richest people in the world including the youngest billionaires, female billionaires and newest billionaires.

www.forbes.com

 

[Mikeoxenormous]

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.

So why the fuck is Biteme Biden, allowing ANTIFA/BLM to burn loot and murder those small businesses? Why is Bonehead Biden paying employees not to work for those small businesses? I know why....

 

[Nostra]

There are about 60 billionaires in the US. If you took $1 Billion from each of them that would only be $60 Billion.

Veggie Joe pisses that away before he shits his depends in the morning.

Forbes says there are 724.

Forbes Billionaires 2023: The Richest People In The World

Forbes presents the 2023 World's Billionaires List. View the richest people in the world including the youngest billionaires, female billionaires and newest billionaires.

www.forbes.com

I stand corrected. Heard someone talking about it on the radio today.

So the money would last until Veggie Joe's second nap of the day.

 

[frigidweirdo]

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?

A flat tax is inherently unfair because a poor person gets a lot less out of taxes than does a rich person (assuming they're working and paying their taxes).

Rich people use infrastructure, they use the military, they use the security, they use all kinds of things to allow them to get rich.

 

[gipper]

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.

yep. They’re the most unAmerican traitors among us. The true enemy within. The Constitution very specifically directs Congress to lay and collect taxes. Not paying them is not an option, because you don’t like to pay them.

Whats interesting is half the morons in this thread think billionaires cheating their way out of not paying them, is a winning issue for them.

No, what's interesting is all the ACTUAL morons in this thread think that it's "cheating" if someone has more money than them, or pays less than what satisfies their own vindictiveness.

The billionaires use our corrupt tax system, which is designed to specifically benefit them enormously, to pay little in taxes and apparently cons think this is entirely appropriate.

 

[gipper]

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?

A flat tax is inherently unfair because a poor person gets a lot less out of taxes than does a rich person (assuming they're working and paying their taxes).

Rich people use infrastructure, they use the military, they use the security, they use all kinds of things to allow them to get rich.

Compared to the corrupt system we have today, a flat tax would be a considerable improvement. The system we have now allows the ultra rich to pay little to nothing in income taxes but don’t tell cons this. They get furious

 

[gipper]

There are about 60 billionaires in the US. If you took $1 Billion from each of them that would only be $60 Billion.

Veggie Joe pisses that away before he shits his depends in the morning.

Forbes says there are 724.

Forbes Billionaires 2023: The Richest People In The World

Forbes presents the 2023 World's Billionaires List. View the richest people in the world including the youngest billionaires, female billionaires and newest billionaires.

www.forbes.com

724 ultra wealthy paying little to nothing in income tax. What a country!!!

 

[Toddsterpatriot]

724 ultra wealthy paying little to nothing in income tax.

Sounds awful!

How much income did they have?

 

[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?

A flat tax is inherently unfair because a poor person gets a lot less out of taxes than does a rich person (assuming they're working and paying their taxes).

Rich people use infrastructure, they use the military, they use the security, they use all kinds of things to allow them to get rich.

So, treating everyone the exact same way isn't fair.

Got it.

 

[gipper]

724 ultra wealthy paying little to nothing in income tax.

Sounds awful!

How much income did they have?

It is awful. Why do you defend a system that benefits the ultra wealthy?

 

[Nostra]

724 ultra wealthy paying little to nothing in income tax.

Sounds awful!

How much income did they have?

It is awful. Why do you defend a system that benefits the ultra wealthy?

One might say the system benefits the 47% who pay no income taxes.

 

[Toddsterpatriot]

724 ultra wealthy paying little to nothing in income tax.

Sounds awful!

How much income did they have?

It is awful. Why do you defend a system that benefits the ultra wealthy?

You're whining about the wealthy paying too little income tax.....but don't know their income?

What else are you going to ignorantly whine about?

 

[gipper]

724 ultra wealthy paying little to nothing in income tax.

Sounds awful!

How much income did they have?

It is awful. Why do you defend a system that benefits the ultra wealthy?

You're whining about the wealthy paying too little income tax.....but don't know their income?

What else are you going to ignorantly whine about?

You thinking a system that benefits the wealthy is peachy keen, is foolish. Typical con thinking.

 

[initforme]

Why we keep electing wealthy people to lead the nation when most aren't wealthy is a hard question to answer.

 

[Toddsterpatriot]

724 ultra wealthy paying little to nothing in income tax.

Sounds awful!

How much income did they have?

It is awful. Why do you defend a system that benefits the ultra wealthy?

You're whining about the wealthy paying too little income tax.....but don't know their income?

What else are you going to ignorantly whine about?

You thinking a system that benefits the wealthy is peachy keen, is foolish. Typical con thinking.

I don't think we should change the system, based only on your ignorant whining.

Even if it benefits the rich.

Even if it hurtz your feelz.

 

[Papageorgio]

Why we keep electing wealthy people to lead the nation when most aren't wealthy is a hard question to answer.

We elect the wealthy because only the wealthy have the vast amounts of money to draw from. It's a cycle that keeps persisting. Congress is made up of the rich, who write laws that favor the rich. It's a game they are all good at. Republicans and Democrats only argue about which rich people get the best deals.

 

[gipper]

724 ultra wealthy paying little to nothing in income tax.

Sounds awful!

How much income did they have?

It is awful. Why do you defend a system that benefits the ultra wealthy?

You're whining about the wealthy paying too little income tax.....but don't know their income?

What else are you going to ignorantly whine about?

You thinking a system that benefits the wealthy is peachy keen, is foolish. Typical con thinking.

I don't think we should change the system, based only on your ignorant whining.

Even if it benefits the rich.

Even if it hurtz your feelz.

Yeah it’s whining when complaining about a failed system, to a dumb con like you.