This is why we need to tax the wealthy

[TruthNotBS]

Yes the government needs the people to make it work, but the people are not entitled to anything from the government who takes from those who give and participates in it with their labor, and attempts to give it to another for reasons that are nefarious, political, and corrupt. Vote buying comes to mind.

Either earn one's keep or be a beggar, it's just that simple. Government wasn't formed to operate in the way that it's operating today. FACT... It needs to be reformed or reminded of it's purpose by reinvigorating the Constitution.

You're just speaking gobbledygook. Incoherent gibberish. Have the last word and delude yourself into thinking you've won something.

 

[Markle]

 

[BluesLegend]

This just in from Argentina's President, "Do not be intimidated by parasites who live off the state, do not surrender to the political class that only wants to stay in power and retain its privileges."

 

[beagle9]

You're just speaking gobbledygook. Incoherent gibberish. Have the last word and delude yourself into thinking you've won something.

Of course it's gobbledygook to you, because you've chosen an anti-American path to walk on in life. Change your name, because it's just not fit for you.

 

[beagle9]

China might be more prepared than one might think, otherwise if they were leaking on purpose. Hey, as the trade situation changes dramatically, what would China do with it's cheap almost slave labor population that was wasting away inside it's factories building products for greed driven global businessmen that were benefitting like King's in the China trade game ?

 

[Markle]

China might be more prepared than one might think, otherwise if they were leaking on purpose. Hey, as the trade situation changes dramatically, what would China do with it's cheap almost slave labor population that was wasting away inside it's factories building products for greed driven global businessmen that were benefitting like King's in the China trade game ?

Very true!

Especially since leaked news stories say China is or has developed a "SUPER COVID."

 

[Nostra]

No one is talking about the hard working entrepeneurs.

What has happened is that wealth and power are now controlled by inherited dynasties, none of whom have invented anythingt

Rumpole you are a moron, a liar, or both. My money is on both.

When it comes to wealth building, there’s a whole lot of bad information out there! For example, a lot of people think millionaires get their money through a big fat inheritance. They think if you don’t come from a wealthy family, your chances of reaching millionaire status are slim.

But is that fact or fiction? The National Study of Millionaires—which is the largest study ever done on millionaires—uncovered the truth about how these men and women built their wealth. (Spoiler alert: Inheritances aren’t as important as you think.)

Did Millionaires Inherit Their Wealth?​

Just how deep does the myth that millionaires’ wealth simply fell into their laps go? We found out that 74% of millennials believe millionaires inherited their money and more than half (52%) of baby boomers think the same thing.1

But our study of millionaires blows that theory out of the water. Here are the facts:

• Only 21% of millionaires received any inheritance at all.
• Just 16% inherited more than $100,000.
• And get this: Only 3% received an inheritance at or above $1 million!2

Think about that: Most folks believe millionaires simply inherited their wealth, but the vast majority of millionaires didn’t get any inheritance at all—and those who did certainly didn’t get enough to make them millionaires!

And remember that an inheritance isn’t some automatic golden ticket to wealth. In fact, one study found that one-third of folks who receive an inheritance actually saw no change or a decline in their wealth afterward.3 Whether you get $10,000 or $100,000, what matters most is what you do with that inheritance.

How Many Americans Receive an Inheritance?​

If 21% of millionaires inherited their money, how does that measure up against the rest of America? The Federal Reserve asked that question, and guess what their answer was . . . 21%.4

That’s right. Millionaires and the general population receive inheritances at the exact same rate. So, don’t miss this: Millionaires are no more likely to get an inheritance than their neighbor who’s swimming in debt.

And if you do happen to get an inheritance, you’re probably going to have to wait a long time to get one. The average age when Americans get an inheritance is 51, and more than one-fourth of inheritances wind up going to folks over the age of 61.5 And the typical size of an inheritance these days? It’s just around $55,000.6

So if you’re banking on an inheritance to make you a millionaire . . . you’re going to need a new plan!

Where Do Millionaires Get Their Money?​

If only a small percentage of millionaires in our survey received an inheritance, then how do millionaires actually build their wealth? Work. Old-fashioned, gritty, roll-up-your-sleeves, get-your-hands-dirty work.

We gave the millionaires in our study a list of items that could contribute to someone becoming a millionaire, and then we asked them to rank them. What ranked number one, beating out everything else? Financial discipline. What ranked number two? Saving consistently.

Discipline and consistency. These two factors working together will beat out a high-paying job, an inheritance and luck every time. And the good news is, we can all choose discipline and consistency. They aren’t reserved for special or “lucky” people. Anyone can commit to being financially disciplined. That’s a choice you can make today!

How Many Millionaires Actually Inherited Their Wealth?

Our research team here at Ramsey Solutions conducted the largest study ever done on millionaires, and we uncovered the truth about how these men and women built their wealth.

www.ramseysolutions.com

 

[Nostra]

Not taxing the rich is the reason why there is the inequality gap.

Ok, both it is................you ARE a moron AND a liar.

 

[Nostra]

Lies. They were reassigned, Dumbass.

But ya gotta love the lefty "fact" checkers like snopes. They originally ruled this lie as "True", then had to add an update saying it wasn't true.

Here is the update they hide at the bottom of the post:

Updates​

Updated to clarify that the 2018 reductions in CDC efforts referenced were a result of the anticipated depletion of previously allotted funding, not a direct cut by the Trump administration.

Updated to clarify that cuts to programs intended to fight epidemics globally did not take place.
But the lefty hacks still have their rating as "True" at the top. What jokes these so-called "fact" checkers are.

Did Trump Administration Fire the US Pandemic Response Team?

As a new coronavirus spread in 2020, so did concerns about the United States' preparedness for a potential pandemic.

www.snopes.com

 

[BackAgain]

You're just speaking gobbledygook. Incoherent gibberish. Have the last word and delude yourself into thinking you've won something.

Said Chrissy * while trying to get the last “word.”

 

[dudmuck]

Lies. They were reassigned, Dumbass.

But ya gotta love the lefty "fact" checkers like snopes. They originally ruled this lie as "True", then had to add an update saying it wasn't true.

Here is the update they hide at the bottom of the post:

Updates​

Updated to clarify that the 2018 reductions in CDC efforts referenced were a result of the anticipated depletion of previously allotted funding, not a direct cut by the Trump administration.

Updated to clarify that cuts to programs intended to fight epidemics globally did not take place.
But the lefty hacks still have their rating as "True" at the top. What jokes these so-called "fact" checkers are.

Did Trump Administration Fire the US Pandemic Response Team?

As a new coronavirus spread in 2020, so did concerns about the United States' preparedness for a potential pandemic.

www.snopes.com

the Trump administration axed the executive branch team responsible for coordinating a response to a pandemic and did not replace it,

 

[beagle9]

Very true!

Especially since leaked news stories say China is or has developed a "SUPER COVID."

Hell they had a lab in California I'm told, and when the CDC was called on it, then they literally hung up on the caller that was trying to report the thing. Then it was found out that 22 Chinese nationals were operating the lab that had some dangerous microbes being tested or studied in the lab. WTH ? Why haven't we seen these nationals imprisoned as spies etc, and the lab destroyed with a stern warning to China that it's gone way to far ??????

We need to look internally at our own involvement, and arrest the undermining traitor's who are allowing this nation to be put into danger by all that is going on.

We don't have to be one of the nation's that is going to be judged harshly on judgement day if we turn back to God. It's our choice to either turn or burn as a nation.

 

[beagle9]

the Trump administration axed the executive branch team responsible for coordinating a response to a pandemic and did not replace it,

If the team was ineffective, then of course you would ax them .. Simple stuff ... Hmmm was that axing taken advantage of maybe ???

 

[eagle1462010]

If the team was ineffective, then of course you would ax them .. Simple stuff ... Hmmm was that axing taken advantage of maybe ???

He should have fired Fauci and most of the bought off clowns to Pharma.. Should have fired a lot of FDA bought off clowns too. Who denied cheap drugs used all over the world.

 

[dudmuck]

If the team was ineffective, then of course you would ax them .. Simple stuff ... Hmmm was that axing taken advantage of maybe ???

you bet it was ineffective. Since the pandemic response team was axed in spring of 2018, we would never know their effectiveness during covid because the team didn't exist going into covid.

 

[eagle1462010]

you bet it was ineffective. Since the pandemic response team was axed in spring of 2018, we would never know their effectiveness during covid because the team didn't exist going into covid.

Should have replaced a TON MORE starting with that bought off ***** FAUCI.

 

[Markle]

you bet it was ineffective. Since the pandemic response team was axed in spring of 2018, we would never know their effectiveness during covid because the team didn't exist going into covid.

Come on, man. Even you know that the shutting down of the Pandemic Response team was a hoax and no one was eliminated.

Get serious or you just sound silly.

 

[leftwinger]

84 pages. All this talk about “INCOME TAX RATES”. What is Income? A weekly paycheck amount from the factory? Is SS considered income? Stock gains? Stock sale profits.Increase in you $287K condo value? Increase in the 25lb gold bars you got stashed in the lockbox?

Franco & Christian bark and bark but they don’t even define what to bark about? I’ll say it again, a Billionaire like BEZOZ ain’t living paycheck to paycheck. Many take no salary whatsoever. Official income is already taxed over 50% total for the high earners in CA. They pay more in property taxes in one year than francoHFW ChristianMan pay in income tax over their entire career.

Do you want a new TAX on Wealth increase annually? Unrealized Gains? Losses?
just say it? You want to go door to door and take wealth from those who saved it up, made it grow and did not lose it. You want to take extra cars, make them pay more if the house is too big or a 100%tax on second, third homes. Private jets? Want those too?

 

[leftwinger]

The EFFECTIVE tax rate of millionaires is around 25%.

hey genius, is that effective tax rate on “income”? What is defined as income?

 

[leftwinger]

1. 
   Capital Gains and Dividends: Wealthy individuals often have significant income from investments, which are usually taxed at a different rate than ordinary income. Long-term capital gains and qualified dividends are taxed at lower rates, typically 0%, 15%, or 20%, depending on the individual's taxable income.
2. Tax Deductions and Credits: High-income individuals might have access to various tax deductions and credits, which can reduce their taxable income or tax liability. Common deductions include charitable donations, mortgage interest, and state and local taxes (SALT), although there are limits on some of these.
3. Tax Avoidance Strategies: Wealthy individuals often use legal strategies to minimize taxes. These can include things like tax-loss harvesting in investments, contributing to retirement accounts, and using trusts or other legal structures to manage assets and income.
4. Evasion and Loopholes: In some cases, individuals might engage in illegal tax evasion or exploit loopholes in the tax code to reduce their tax burden. While tax evasion is illegal, using legal loopholes is not, though it can be a subject of public and political scrutiny.

Wealthy people with good accountants pay less, due to all of the above.

1. Unrealized gains? they purchased all those investments using after tax dollars in the beginning. Its complicated.

2. Trump tax fix capped SALT at $10K. Next.

3,4. Nice fantasy. But nothing specific identified.