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

[frigidweirdo]

The rich don't get that way playing by the rules. More Americans are figuring it out.

They're really not

You clowns are a hoot.

For pages you claim the rich are getting rich because the rules are in their favor................now you claim they are rich because they don't play by the rules.

Ah, insults. Bye.

 

[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

The problem with a flat tax is that the rich would STILL find ways to not pay anything.

With the help of our politicians and government.

Exactly.

So what needs to change? The politicians and government.

Proportional Representation is the change needed.

That would help but we need much more. We need term limits, public funding of campaigns and any private funding made illegal, the ultra wealthy must pay high taxes on their wealth, complete termination of foreign interventions, drastic cuts in the war budget, termination of the CIA and NSA, release of all nonviolent prisoners, total reform of the justice system and law enforcement.

However none of this will occur.

We need term limits,

Yes!!!

public funding of campaigns and any private funding made illegal,

And eliminate free speech! Can't have the wrong people talking about the wrong candidate.

the ultra wealthy must pay high taxes on their wealth

How wealthy? How much? How often?

Con think. Free speech is spending millions to buy politicians and ultimately government favors and protection. Nothing wrong with this, in the small mind of the con. The con and his foolishness know no bounds.

If it isn’t clear to you that the ultra wealthy pay little in income taxes, you’re just another duped con.

 

[ESay]

Back before Woodrow Wilson reenacted the income tax to pay for his war, the tax revenues to the government came from Alcohol taxes...Can

Basing your tax revenues on income tax rather that alcohol taxes is quite more reasonable.

 

[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

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.

And not all stocks pay dividends

Dividends aren't taxed as capital gains. The tax on dividends depends on the tax bracket the recipients are in where capital gains rates are not dependent on the tax bracket.

And there is an additional 3.8% tax on dividends for individuals earning over 200K

And less than half of publicly traded stocks pay dividends.

Seems it's you who needs to do a little reading on how dividends are taxed.

 

[sparky]

This is our own fault.

Until We The People decide to make significant changes to our political/electoral system, this will continue.

~S~

 

[Toddsterpatriot]

Free speech is spending millions to buy politicians and ultimately government favors and protection.

I know. And getting them elected.

It should be against the law to make a movie that criticizes Hillary, right?

If it isn’t clear to you that the ultra wealthy pay little in income taxes,

If you have proof that some (all?) wealthy people aren't paying income tax on their income, you should notify the IRS.

How Do You Report Suspected Tax Fraud Activity? | Internal Revenue Service

Report fraud if you suspect an individual or business is not complying with federal tax law. Find out how.

www.irs.gov

You can even get a reward!!!!

https://www.irs.gov/pub/irs-pdf/f211.pdf

Let me know how much you get. Good luck!

 

[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.

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.

And not all stocks pay dividends

Dividends aren't taxed as capital gains. The tax on dividends depends on the tax bracket the recipients are in where capital gains rates are not dependent on the tax bracket.

And there is an additional 3.8% tax on dividends for individuals earning over 200K

And less than half of publicly traded stocks pay dividends.

Seems it's you who needs to do a little reading on how dividends are taxed.

The tax on dividends depends on the tax bracket the recipients are in where capital gains rates are not dependent on the tax bracket.

Ummm......

Topic no. 409, Capital gains and losses | Internal Revenue Service

IRS Tax Topic on capital gains tax rates, and additional information on capital gains and losses.

www.irs.gov

 

[sarahgop]

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?

Odd timing. Biden clearly authorized the illegal leak of private info and should be impeached. Right in time to push for massive tax hikes.

 

[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

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.

And not all stocks pay dividends

Dividends aren't taxed as capital gains. The tax on dividends depends on the tax bracket the recipients are in where capital gains rates are not dependent on the tax bracket.

And there is an additional 3.8% tax on dividends for individuals earning over 200K

And less than half of publicly traded stocks pay dividends.

Seems it's you who needs to do a little reading on how dividends are taxed.

The tax on dividends depends on the tax bracket the recipients are in where capital gains rates are not dependent on the tax bracket.

Ummm......

View attachment 500413

Topic no. 409, Capital gains and losses | Internal Revenue Service

IRS Tax Topic on capital gains tax rates, and additional information on capital gains and losses.

www.irs.gov

There are long term and short term capital gains taxes

there are not long and short term dividends taxes

dividends are not taxed like capital gains

 

[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.

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.

And not all stocks pay dividends

Dividends aren't taxed as capital gains. The tax on dividends depends on the tax bracket the recipients are in where capital gains rates are not dependent on the tax bracket.

And there is an additional 3.8% tax on dividends for individuals earning over 200K

And less than half of publicly traded stocks pay dividends.

Seems it's you who needs to do a little reading on how dividends are taxed.

The tax on dividends depends on the tax bracket the recipients are in where capital gains rates are not dependent on the tax bracket.

Ummm......

View attachment 500413

Topic no. 409, Capital gains and losses | Internal Revenue Service

IRS Tax Topic on capital gains tax rates, and additional information on capital gains and losses.

www.irs.gov

There are long term and short term capital gains taxes

there are not long and short term dividends taxes

dividends are not taxed like capital gains

There are long term and short term capital gains taxes

Short-term gains are taxed as ordinary income.

there are not long and short term dividends taxes

Never said there were.

dividends are not taxed like capital gains

Never said they were.

Just wanted to correct your error......

"where capital gains rates are not dependent on the tax bracket"

Because they are. 3 brackets.

$0-$80,000 0% rate
$80,000-$441,450 15% rate
$441,450 and up 20% rate
For single filers....

Topic no. 409, Capital gains and losses | Internal Revenue Service

IRS Tax Topic on capital gains tax rates, and additional information on capital gains and losses.

www.irs.gov

 

[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.

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.

And not all stocks pay dividends

Dividends aren't taxed as capital gains. The tax on dividends depends on the tax bracket the recipients are in where capital gains rates are not dependent on the tax bracket.

And there is an additional 3.8% tax on dividends for individuals earning over 200K

And less than half of publicly traded stocks pay dividends.

Seems it's you who needs to do a little reading on how dividends are taxed.

The tax on dividends depends on the tax bracket the recipients are in where capital gains rates are not dependent on the tax bracket.

Ummm......

View attachment 500413

Topic no. 409, Capital gains and losses | Internal Revenue Service

IRS Tax Topic on capital gains tax rates, and additional information on capital gains and losses.

www.irs.gov

There are long term and short term capital gains taxes

there are not long and short term dividends taxes

dividends are not taxed like capital gains

there are not long and short term dividends taxes

Actually, there are.

Qualified dividends​

Certain dividends known as qualified dividends are subject to the same tax rates as long-term capital gains, which are lower than rates for ordinary income.


Qualified dividends are generally dividends from shares in domestic corporations and certain qualified foreign corporations which you have held for at least a specified minimum period of time, known as a holding period. Another requirement is that the shares be unhedged; that is, there were no puts, calls, or short sales associated with the shares during the holding period.
These dividends are taxable federally at the capital gains rate, which depends on the investor’s modified adjusted gross income (AGI) and taxable income (the rates are 0%, 15%, 18.8%, and 23.8%).

In certain circumstances, such as when shares are lent to a third party, payments may be made in lieu of dividends. If this applies to you, learn more about Annual Credit for Substitute Payments.

Qualified dividends on your tax reporting statement​

Qualified dividends are reported on Form 1099-DIV in line 1b or column 1b. However, not all dividends reported on those lines may have met the holding period requirement. Those non-qualified dividends, as well as other ordinary dividends, may be taxed at your ordinary income tax rate, which can be as high as 37%.

If you neither bought nor sold securities in the tax year, the potential qualified dividends reported on your Form 1099-DIV should meet the holding period requirement and qualify for the lower tax rate, unless you hedged the securities.

Qualified Dividends - Fidelity

Since 2003, certain dividends known as qualified dividends have been subject to the same tax rates as long-term capital gains, which are lower than rates for ordinary income.

www.fidelity.com

 

[ColonelAngus]

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?

Why are you conflating TAXED WAGES and WEALTH?

This article Takes advantage of dumb fucks leftists who do not know a fucking thing about taxes.

Complete horseshit article.

If I own A home worth $1 million and a person earns $1 million in earnings.......the person earning $1 million in wages is going to pay more in taxes.

You dumb knuckle dragging left wing morons need to read a fucking book.

 

[toobfreak]

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?

You arguing for a flat tax? A simplification of the tax code? I'm all for it. The IRS spends something like 10 billion a year on keeping up with tax laws. But none of these billionaires are breaking any laws are they? They are simply going by the tax laws THAT CONGRESS WRITES. And most of them are DEMOCRATS.

 

[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.

Is it fair?

If I go to the supermarket and guy a steak and you buy a pack of candy, should both people pay the same?

WTF are you babbling about? Wanna try a coherent post for once?

I'm sorry you can't keep up with a simple conversation. You want it in crayon?

Please try again. And yes, use your crayons if it helps you.

 

[Nostra]

The rich don't get that way playing by the rules. More Americans are figuring it out.

They're really not

You clowns are a hoot.

For pages you claim the rich are getting rich because the rules are in their favor................now you claim they are rich because they don't play by the rules.

Ah, insults. Bye.

Grab your coloring book and binky and crawl back under your bed, Buttercup.

 

[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

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

Nope, pointing out the unfairness in our tax system.
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.

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.

Nope, pointing out the unfairness in our tax system.
MAGA

It is unfair. No reason 47% shouldn’t pay their fair share, instead of nothing.

 

[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

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

Nope, pointing out the unfairness in our tax system.
MAGA

It is unfair. No reason 47% shouldn’t pay their fair share, instead of nothing.

So why not a flat tax?
MAGA

 

[sealybobo]

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.

Saw this and thought you'd find it interesting.

Wealth Income Gap Widens In U.S. Communities With Jackson Hole At The Top

More Americans need a "seat at the table" of the U.S. economy, urges troubling new report by the Economic Innovation Group.

www.huffpost.com

About 15% of households own stocks, and 13% hold business equity or other residential property

For more Americans to have a “seat at the table” of the economic system, the report concludes, “lawmakers should consider ways in which public policy can open up more pathways to asset ownership to a wider array of Americans.”

To the surprise of few people, the wealth income gap among American communities is yawning ever wider,

The EIG report — which focused specifically on income from interest, stock dividends and rent — discovered that the gap between counties with the lowest and highest asset income per capita increased sixfold between 1990 and 2019.

The report demonstrates that while asset values may soar, they are only enjoyed by a fraction of Americans, while the rest must depend on wages. “The reality is this: building asset wealth is currently unattainable for the majority of Americans,” the report stated.

Wealth Income Gap Widens In U.S. Communities With Jackson Hole At The Top

More Americans need a "seat at the table" of the U.S. economy, urges troubling new report by the Economic Innovation Group.

www.huffpost.com

 

[sealybobo]

It is unfair. No reason 47% shouldn’t pay their fair share, instead of nothing.

Ok then let's pay them more so they can pay more in taxes. That's the trade off. Owners will have to pay more in salaries if they want to pay less in taxes. Share the wealth.