The BIT Act (Billionaire Income Tax)

[Toddsterpatriot]

The extended Walton family, for example. WalMart stealing wealth by paying most employees so little they require public assistance.

How much should their low/no skill employees be paid?

 

[Toddsterpatriot]

The money earned was NEVER taxed.




As far as targeting billionaires.......

They invest a million. Make $50k on it. If they want to buy something, they dont take that money which would trigger taxes they borrow it (at very favorable rates) and then get to write that off.

Why do you feel a billionaire gets to write off interest on personal loans?

 

[Toddsterpatriot]

If you mismanage your business and are going under, how much does the government offer to you to help you out?

Understand the difference?

Sociallsm for the rich and powerful, tough shit for you.

This is not how capitalism works. This is how capitalism fails.
.

And if your bank is simply illiquid, like during a panic, who benefits if it goes under?

How much did the bank bailout cost the taxpayer?

 

[Grumblenuts]

How much should their low/no skill employees be paid?

Enough to meet a living wage standard, which ensures workers can support themselves and their families without needing public assistance. Duh.

 

[Seymour Flops]

The original income tax was introduced as a way to tax millionaires only. It was a common joke at the time that people would complain about having to pay income tax as a way to show off how wealthy they were.

Didn't take long for the brackets to expand, and even as soon as the fifties and sixties nearly everyone was either filing to prove they had paid their taxes or filing to prove that they didn't need to pay taxes, with that second group getting smaller and smaller.

So yes. Tell me about a new scheme to tax only "the wealthy" and I know what the endgame is.

 

[pknopp]

Why do you feel a billionaire gets to write off interest on personal loans?

Bugger off.

 

[struth]

Not for lack of trying on my part.

Not coming back this time. What you’ll got a 19 percent approval now?

Too much was exposed when you all decided not to hide your facism and made a majority of the country worse off

 

[struth]

The money one puts into an account isn't being targeted. It's the money made by that money. .

One can still argue that one way or the other but it needs argued correctly.

The money made by the account is taxed when it’s realized

 

[pknopp]

The money made by the account is taxed when it’s realized

And that is what the discussion is over.

 

[struth]

And that is what the discussion is over.

There is nothing to discuss. The money doesn’t exist until it’s realized

 

[progressive hunter]

Enough to meet a living wage standard, which ensures workers can support themselves and their families without needing public assistance. Duh.

what is a living wage??

for me is bout 400K a yr

 

[struth]

what is a living wage??

for me is bout 400K a yr

I want 650k

 

[progressive hunter]

I want 650k

OK so your boat is bigger than mine,,

I can live with that,,

 

[struth]

OK so your boat is bigger than mine,,

I can live with that,,

Can you? Sounds like you need to move to my living wage..cause your poor and we can’t have that

We will just raise taxes on the rich to get you to the living wage

 

[progressive hunter]

Can you? Sounds like you need to move to my living wage..cause your poor and we can’t have that

We will just raise taxes on the rich to get you to the living wage

I AM NOT POOR,,

I just live within my means,,

you just hate me because you think I am poor,,

 

[struth]

I AM NOT POOR,,

I just live within my means,,

you just hate me because you think I am poor,,

I’m trying to give you a living wage. My living wage is 650k, and that’s the new standard

 

[progressive hunter]

I’m trying to give you a living wage. My living wage is 650k, and that’s the new standard

its a stupid standard,,

 

[struth]

its a stupid standard,,

What should it be?

 

[BackAgain]

The money earned was NEVER taxed.

What a moronic and utterly ridiculous thing to claim. Absolute bullshit.

As far as targeting billionaires.......

They invest a million. Make $50k on it. If they want to buy something, they dont take that money which would trigger taxes they borrow it (at very favorable rates) and then get to write that off.

Oh nozies. They use our silly tax laws as allowed.

So, as it turns out, your complaint is that our tax laws are too Byzantine. Ok. Then let’s simplify it.

Let’s have a flat tax on all future “income” and also, let’s redefine (a bit) what constitutes “income” so that borrowing money at a nice interest rate (which can be written off to some extent) qualifies as taxable income at the same flat rate.

We might out a few thousand tax preparers out of business, but, hey. Overall, taxation will be fairer.

Also, of course, let’s make the passing of the federal budget mandatory each fiscal year and stick with only that much spending as we can assign to that flat tax net government “revenue.”

 

[progressive hunter]

What should it be?

mind your own ******* business nd if you dont make enough money stop blaming other people and step up your game,,