Tax the rich!!!

[Votto]

This is a good video on how Marxists usher in new taxes. like they did the original income tax passed in the Constitution at the turn of the 20th century. The Income tax had to be placed in the Constitution because decades prior SCOTUS ruled that a tax on income was unconstitutional. At first, the income tax effected a very small number of people, but once in place, they broadened it little by little, like a frog in a frying pan. Now they are coming for pretty much everything you own in states like California, and they want to broaden in nationally.

 

[berg80]

This is a good video on how Marxists usher in new taxes. like they did the original income tax passed in the Constitution at the turn of the 20th century. The Income tax had to be placed in the Constitution because decades prior SCOTUS ruled that a tax on income was unconstitutional. At first, the income tax effected a very small number of people, but once in place, they broadened it little by little, like a frog in a frying pan. Now they are coming for pretty much everything you own in states like California, and they want to broaden in nationally.

By coincidence there was a lengthy article in the NYT just yesterday addressing the topic of tax fairness. What follows are excerpts from an interview Ezra Klein did with Ray Madoff, a professor at Boston College Law School who specializes in tax law and estate planning. She’s the author of “The Second Estate: How the Tax Code Made an American Aristocracy.” It begins with her answering a question about widely circulated myths regarding how people at different levels of income, and wealth, are taxed.

Let’s start with the 40 percent of nonpayers. You might have heard this in terms of Mitt Romney’s talking about the 47 percent — which is what it was when he was running for office. The thing that he didn’t account for is the tremendous burden imposed by payroll taxes. And even though 40 percent of Americans don’t pay any federal income taxes, they still pay significant payroll taxes.
Indeed, today I just read a statistic that 80 percent of Americans pay more in payroll taxes than they pay in income taxes. And these can be quite burdensome. Because unlike income taxes, they start at $1.

So it was wrong and misleading in terms of the nonpayers. But where it’s particularly misleading is when it comes to this top 1 percent. We see this all the time, whenever there are movements to impose more taxes on the wealthy. The stories start popping up in The Wall Street Journal, The Washington Post, The Economist — those are just in the past couple of months. They all say: What are you talking about? The top 1 percent are already paying 40 percent of the income taxes.

And what this isn’t capturing is that statistic is referring to the top 1 percent of income earners. Those with the most income. High-income lawyers, doctors, finance people — they indeed are paying a significant chunk of the income taxes.

However, when it comes to the wealthiest Americans — Zuckerberg, Bezos, Musk, Larry Ellison, all the people we hear about so often — they are just as likely to be in the 40 percent of nonpayers as they are in the top 1 percent of payers.
https://www.nytimes.com/2026/04/17/opinion/ezra-klein-podcast-ray-madoff.html

How is that possible? Because the uber rich get their wealth by virtue of the increasing value of the stock they own. Bezos, for example, has never taken a salary in excess of $82K. That amount is what he pays state and federal income taxes on. The money he uses to live his wealthy lifestyle with is money borrowed against the value of his stock. His can actually deduct the interest payments on that borrowed money. So his billions in wealth are not taxed.

Google, Charles Littlejohn. He released information about high wealth individuals and was sent to prison for it.
https://www.taxnotes.com/featured-analysis/littlejohns-unjust-tax-sentence/2024/05/17/7jhtz

His investigation found that.........Warren Buffett had what they call a true tax rate of 0.1 percent; Jeff Bezos had 0.98 percent; Michael Bloomberg had 1.3 percent.

 

[Votto]

By coincidence there was a lengthy article in the NYT just yesterday addressing the topic of tax fairness. What follows are excerpts from an interview Ezra Klein did with Ray Madoff, a professor at Boston College Law School who specializes in tax law and estate planning. She’s the author of “The Second Estate: How the Tax Code Made an American Aristocracy.” It begins with her answering a question about widely circulated myths regarding how people at different levels of income, and wealth, are taxed.

Let’s start with the 40 percent of nonpayers. You might have heard this in terms of Mitt Romney’s talking about the 47 percent — which is what it was when he was running for office. The thing that he didn’t account for is the tremendous burden imposed by payroll taxes. And even though 40 percent of Americans don’t pay any federal income taxes, they still pay significant payroll taxes.
Indeed, today I just read a statistic that 80 percent of Americans pay more in payroll taxes than they pay in income taxes. And these can be quite burdensome. Because unlike income taxes, they start at $1.

So it was wrong and misleading in terms of the nonpayers. But where it’s particularly misleading is when it comes to this top 1 percent. We see this all the time, whenever there are movements to impose more taxes on the wealthy. The stories start popping up in The Wall Street Journal, The Washington Post, The Economist — those are just in the past couple of months. They all say: What are you talking about? The top 1 percent are already paying 40 percent of the income taxes.

And what this isn’t capturing is that statistic is referring to the top 1 percent of income earners. Those with the most income. High-income lawyers, doctors, finance people — they indeed are paying a significant chunk of the income taxes.

However, when it comes to the wealthiest Americans — Zuckerberg, Bezos, Musk, Larry Ellison, all the people we hear about so often — they are just as likely to be in the 40 percent of nonpayers as they are in the top 1 percent of payers.
https://www.nytimes.com/2026/04/17/opinion/ezra-klein-podcast-ray-madoff.html

How is that possible? Because the uber rich get their wealth by virtue of the increasing value of the stock they own. Bezos, for example, has never taken a salary in excess of $82K. That amount is what he pays state and federal income taxes on. The money he uses to live his wealthy lifestyle with is money borrowed against the value of his stock. His can actually deduct the interest payments on that borrowed money. So his billions in wealth are not taxed.

Google, Charles Littlejohn. He released information about high wealth individuals and was sent to prison for it.
https://www.taxnotes.com/featured-analysis/littlejohns-unjust-tax-sentence/2024/05/17/7jhtz

His investigation found that.........Warren Buffett had what they call a true tax rate of 0.1 percent; Jeff Bezos had 0.98 percent; Michael Bloomberg had 1.3 percent.

First of all, you posted this too fast to suggest you even watched the video which you did not address whatsoever.

But Ok, many here won't watch it anyway. They would rather mindlessly post partisan talking points instead, because they are either part of the Left wing cult, or you are a part of the cabal oligarchy of rich folk like Nancy Pelosi who wants to control the wealth of the nation.

Whatever.

Either way the likelihood of you contributing anything to this thread that is in the least bit productive in very small.

Let me ask you, if you tax all the rich folk like you want, what benefit is it to you and the nation?

As the video suggests, which is not promoting Trump in the least, what is going to happen is that the DNC will take over power because people are upset with the economy, but all the people will get is higher taxes.

But for what profit for the people?

 

[wamose]

Bad idea. The last person you want to be forced to give your money to are power hungry, irresponsible spending Democrats. Socialism sucks.

 

[Votto]

Can any democrat tell me how our lives will get better with higher taxes?

Just one thing?

 

[Mr Natural]

Back in the day when America was great the wealthy were looking at a 90% tax bracket.

 

[1srelluc]