Cecilie1200
Diamond Member
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.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?
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.