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What Biden fails to understand is that the wealthy, or their heirs, eventually pay all taxes due.
why??In fairness, I don't disagree with the principle of getting Billionaires to pay their taxes, but the way to do it is to either:
Either of those would build a more pragmatic tax structure.
- Tax the security-backed debt that the billionaires take out to live off of.
- Tax the whole estate upon death.
They eventually pay all taxes that have been deferred.They don't eventually. They PAY ALL TAXES DUE under the tax law period or they are a tax cheat and felony violation sought by the IRS.
There are no loopholes, there are no shelters. These are all legitimate tax options built into the tax law WRITTEN BY CONGRESS ITSELF.
So no one can say the rich don't pay their fair share. As it is, the top 10%-20% of earners pay something like almost half of all taxes collected.
The government is afflicted with the Robin Hood Syndrome.why??
if the feds limited themselves to what the constitution allowed they wouldnt need the money and the people or states could use it for what they wanted too,,
taxs are being used as punishment for success instead of its intended purpose,,
more like reverse robin hood,,The government is afflicted with the Robin Hood Syndrome.
nonono, the progressives view deficits as the reason to further tax the Bourgeoisie. LOLDeficits can always be fixed very easy. Stop spending so much goddamn money.
Increased taxes never reduce deficits. Just give the bureaucrats more money to waste.
taxs are supposed to be for punishment like they are doing,,I dunno. The rich pay a lot of the taxes. Of course many Congresspersons are lawyers, who typically attack those with the 'deep pockets', regardless of the issue.
If only they would do that.nonono, the progressives view deficits as the reason to further tax the Bourgeoisie. LOL
Is all very logical. Govt figures out what we need, and provides it with deficit spending. Too much inflation? No problem, govt just takes out "excess" money from the economy with taxes.
Flat tax of 10 percent, balance budget via Amendment.
Biden proposes to make the tax burden of Billionaires and ordinary citizens "equitable". If so all he needs to do is increase those Billionaire's tax burden to about 16 percent, the average paid by most others. Instead he proposes tax rates as high as 43 percent on the wealthy.
He's not very good at even simple arithmetic. Of course his actual scheme is to destroy capitalism, not provide equity.
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Biden Administration Proposes 'Billionaires Minimum Tax'
The Biden FY2023 Budget features a minimum tax on unrealized capital gains of the ultra-rich and higher rates for wealthy and high-income individuals.www.investopedia.com
You mean the one that allows 50% of the population to avoid income taxes?Close the loopholes
The top 10% pay 70% of the taxes and LYING scum Dems LIE about this all the time by using the tax rate % SPIN. How is it fair that the top 10% pay 70% of the taxes?? Not fair at all but LYING Dems go right on spewing the SPIN that we don't pay our fair share. It's pure BS.They don't eventually. They PAY ALL TAXES DUE under the tax law period or they are a tax cheat and felony violation sought by the IRS.
There are no loopholes, there are no shelters. These are all legitimate tax options built into the tax law WRITTEN BY CONGRESS ITSELF.
So no one can say the rich don't pay their fair share. As it is, the top 10%-20% of earners pay something like almost half of all taxes collected.
