Wealth of Five Richest Men Doubles Since 2020

[progressive hunter]

Great ^^^^

What ETR is this?

If it's 1% to 20%, it's not enough.

If it's 37%, then it's just about right.

If it's 60%, then Yes, that's too much.

should everyone pay 37%??
that would only be fair,, at that rate the rich will still pay billions more than the lowest 70% of tax payers,,

 

[g5000]

whats a fair share??
they already pay 90% of the taxs and the lower 50% pay nothing,, that doesnt sound fair to me,,

The lowest 50 percent earn 2.6% of income.

Also, it was the intention of our Founders that the wealthy pay almost all the taxes.

To James Madison Fontainebleau, Oct. 28, 1785 < The Letters of Thomas Jefferson 1743-1826 < Thomas Jefferson < Presidents < American History From Revolution To Reconstruction and beyond

The property of this country is absolutely concentred in a very few hands, having revenues of from half a million of guineas a year downwards.

[snip]

I am conscious that an equal division of property is impracticable, but the consequences of this enormous inequality producing so much misery to the bulk of mankind, legislators cannot invent too many devices for subdividing property, only taking care to let their subdivisions go hand in hand with the natural affections of the human mind.

[snip]

Another means of silently lessening the inequality of property is to exempt all from taxation below a certain point, and to tax the higher portions or property in geometrical progression as they rise.

 

[g5000]

should everyone pay 37%??
that would only be fair,, at that rate the rich will still pay billions more than the lowest 70% of tax payers,,

A flat tax is regressive.

However, if we eliminated all tax expenditures (which overwhelming redistribute wealth up the food chain), the top tax bracket could be lowered to 25 percent or less.

 

[progressive hunter]

The lowest 50 percent earn 2.6% of income.

Also, it was the intention of our Founders that the wealthy pay almost all the taxes.

To James Madison Fontainebleau, Oct. 28, 1785 < The Letters of Thomas Jefferson 1743-1826 < Thomas Jefferson < Presidents < American History From Revolution To Reconstruction and beyond

The property of this country is absolutely concentred in a very few hands, having revenues of from half a million of guineas a year downwards.

[snip]

I am conscious that an equal division of property is impracticable, but the consequences of this enormous inequality producing so much misery to the bulk of mankind, legislators cannot invent too many devices for subdividing property, only taking care to let their subdivisions go hand in hand with the natural affections of the human mind.

[snip]

Another means of silently lessening the inequality of property is to exempt all from taxation below a certain point, and to tax the higher portions or property in geometrical progression as they rise.

ther lowest 50% pay nothing and the top 1% pay 90%,, how is that fair??

 

[g5000]

I will let one of Trump's most devoted lickspittles explain the principle of how tax expenditures (deductions, exemptions, credits) cause higher tax rates and are theft:

No tax reform without border adjustment tax, Rep. Nunes says

"If people wanted to drop the corporate rate from 35 to say 33, 32, maybe 30, we could probably do it. But if you go back to several years that we looked at doing just that, the goal was to get to 25 percent, and by the time every lobbyist, every special interest group in town, representing every major corporation in this country, the tax rate was automatically all the way back above 30 by the time you put everybody's special loophole in."


I would ask everyone to read that a hundred times if that is how much it takes for you to comprehend it.

For every dollar you get to deduct from your taxes, someone else has to pay an extra dollar.

People earning identical incomes are paying radically different taxes.

I honestly don't know how anyone who calls themselves a conservative or a libertarian could be tolerant of the government punishing you for not buying the right things or for not breeding.

 

[progressive hunter]

A flat tax is regressive.

However, if we eliminated all tax expenditures (which overwhelming redistribute wealth up the food chain), the top tax bracket could be lowered to 25 percent or less.

still waiting to hear whats a fair share??
the top 1% pay 90% of taxs,,
that doesnt seem fair to me??

 

[Foxfyre]

The world's five richest parasites have more than doubled their fortunes from $405 to $869 billion since 2020 while nearly 5 billion people have become even poorer; some parasites eagerly anticipate the globe's first $trillionaire within ten years, but seem indifferent to the claim poverty will not be eradicated for another 229 years:

Wealth of five richest men doubles since 2020 as five billion people made poorer in “decade of division,” says Oxfam | MR Online

"'This inequality is no accident; the billionaire class is ensuring corporations deliver more wealth to them at the expense of everyone else,' said Oxfam International interim Executive Director Amitabh Behar.

Those who have money are able to make money more easily than those of us who do not have a lot of money. And those who make big money generally do so by taking risks that could cost them big money. But they provide jobs, services, products, information that people are willing to pay for or they invest their money in government bonds and businesses or put it in the bank where it is available for others to borrow. What is so evil about that? What makes them 'parasites' any more than any other American or person?

I do not blame them or fault them for making money so long as they make it ethically and legally.

I wish I was so blessed that I would be on everybody's sh*t list because I had too much money, but I chose professions and made choices that didn't get me there. And I don't blame anybody for that. I've had a good life. Today's younger and more innovative millionaires are most likely going to be those billionaires that you hate on down the road.

79% Of Millionaires Are Self-Made — Lessons From Those Who Built Wealth Without Inheritance

Recent studies have shown that the notion that most millionaires are born into wealth is a myth. Recent studies have shown that the notion that most millionaires are born into wealth is a myth. In fact, over two-thirds of millionaires are self-made, according to a 2019 study by Wealth-X and a...

finance.yahoo.com

 

[g5000]

the top 1% pay 90%

That's a flat out lie.

 

[Winco]

whats a fair share??
they already pay 90% of the taxs and the lower 50% pay nothing,, that doesnt sound fair to me,,

That's because retards don't under ETR.
Or Percentages.

Just an Example........
Of course 3% of $400 Billion ( $12 Billion) > 12% of $50,000 ( $6,000 )

You think this ^^^^^ is fair?

 

[progressive hunter]

That's a flat out lie.

my numbers may not be exact but they are close,,

fact remians the top earners pay far more than their fair share and the bottom pay little to nothing and in some cases get money back they didnt put in,,

 

[Winco]

should everyone pay 37%??
that would only be fair,, at that rate the rich will still pay billions more than the lowest 70% of tax payers,,

Dear Lord, Nobody is arguing that ^^^^^
It's about ETR, or Percentages, which you clearly want to deflect from.

 

[g5000]

I see progressive hunter just tagged my post about Deven Nunes with "Fake News".

If that doesn't prove how willfully blind Trumptards are, I don't know what does.

 

[EvilCat Breath]

why not just take everything they have and close all their businesses??

they cant be giving the country any benefit,,

Nah. No benefit at all. They are rich for a reason.

 

[progressive hunter]

That's because retards don't under ETR.
Or Percentages.

Just an Example........
Of course 3% of $400 Billion ( $12 Billion) > 12% of $50,000 ( $6,000 )

You think this ^^^^^ is fair?

not even close to fair,, its clear in your example the high earners are getting screwed and the bottom is getting a free ride,,

 

[g5000]

my numbers may not be exact but they are close,,

Nope. Not even close.

You pulled that number out of your ass.

Why do you blast your integrity to smithereens like that?

Trying to win an argument by lying just makes you look evil and stupid.

 

[progressive hunter]

I see progressive hunter just tagged my post about Deven Nunes with "Fake News".

If that doesn't prove how willfully blind Trumptards are, I don't know what does.

the idea is fake,,

me takeing a deduction doesnt result in others having to pay more,,

 

[Winco]

progressive hunter
You certainly aren't Ultra RICH,

Why do you insist on protecting the Ultra Rich?

 

[g5000]

not even close to fair,, its clear in your example the high earners are getting screwed and the bottom is getting a free ride,,

Just as our Founders intended.

 

[EvilCat Breath]

whats a fair share??
they already pay 90% of the taxs and the lower 50% pay nothing,, that doesnt sound fair to me,,

It isn't fair but those why pay no taxes and live off of taxpayer paid benefits still complain about being taxed.

 

[progressive hunter]

Nope. Not even close.

You pulled that number out of your ass.

Why do you blast your integrity to smithereens like that?

Trying to win an argument by lying just makes you look evil and stupid.

then prove me wrong,,

just saying it means nothing to me,,