Why don't you want to tax the rich?

[M14 Shooter]

But not enough more.

"Enough" is entirely subjective.

 

[Hafar1014]

Non answer.

Try again.

Explain how treating everyone the same isn't "fair".

Everyone isnt the same in the first place. A flat tax means no deductions. We can have 3 different flat taxes

 

[Nostra]

Everyone isnt the same in the first place. A flat tax means no deductions. We can have 3 different flat taxes

If there is 3 it isn't flat. That gives the idiots in DC a chance to raise it on some folks and not others.

Everyone should pay the same amount on every dollar of income.

 

[Company 13]

Non answer.

Try again.

Explain how treating everyone the same isn't "fair".

Because a flat tax is a regressive tax.
How on earth can someone have a plan for how we should be taxed without knowing all this stuff?
Have you read Wealth of Nations?

 

[Company 13]

"Enough" is entirely subjective.

So is calling a flat tax fair.

 

[M14 Shooter]

Because a flat tax is a regressive tax.

Not by any meaningful definition of the term.

 

[Company 13]

If there is 3 it isn't flat. That gives the idiots in DC a chance to raise it on some folks and not others.

Everyone should pay the same amount on every dollar of income.

It's amazing that you would be so adamant on a topic you have't studied.

 

[Luckyone]

The government getting rich is the problem not people getting rich

explain how the "government" gets rich? I do not understand how that can happen? what does the "government" do with its money? do they buy planes, takes trips, buy expensive stuff, or is it the PEOPLE in power that do that? If it is the people in power, what is to stop the people in power NOW from doing the same (getting rich)?

What needs to be done is to have controls and restrictions in place that prevent/restrict those in power from getting rich. Do you actually believe that Trump and the Republicans are going to put those controls and restrictions in place? Or simply change things so THEY are the ones getting rich?

 

[Lockback]

It's amazing that you would be so adamant on a topic you have't studied.

It's amazing how large your ego is for being just another leftist punk.

 

[Company 13]

Not by any meaningful definition of the term.

Yes, it is. Same with a sales tax when we all pay the same rate. Regressive.

 

[M14 Shooter]

So is calling a flat tax fair.

I accept your concession of the point.
Your subjective "enough" is meaningless.

 

[M14 Shooter]

Yes, it is.

Please provide a meaningful definition of "regressive tax" that correctly applies to a flat tax.

 

[Nostra]

Because a flat tax is a regressive tax.
How on earth can someone have a plan for how we should be taxed without knowing all this stuff?
Have you read Wealth of Nations?

So? Tell me why it isn't fair to treat everyone the same?

You can't.

 

[Nostra]

It's amazing that you would be so adamant on a topic you have't studied.

How would you know what I have studied, Commie 13?

You are the one who can't explain your position.

 

[Luckyone]

What loopholes are you referring to?

Warning: Her comes a non-answer from the resident complainer.

Here is a detailed answer to your question:

Key strategies and loopholes include:

• Capital Gains vs. Salary: The rich often take very small official salaries from their companies (e.g., Jeff Bezos' base salary was around $81,000 before stock compensation). Their primary income comes from stock awards and investments, which are taxed at a lower capital gains tax rate than the higher income tax rates applied to large salaries.
• "Buy, Borrow, Die": Instead of selling appreciated assets (which would trigger a capital gains tax), wealthy individuals borrow money against those assets. The borrowed money is not considered income and is therefore untaxed. The assets are passed to heirs upon death, often with a "step-up in basis," allowing the heirs to sell the assets without paying capital gains tax on the appreciation that occurred during the original owner's lifetime.
• Tax-Loss Harvesting: This involves strategically selling investments that have lost value to generate losses that can offset capital gains from profitable sales. They can then reinvest in similar assets, maintaining their portfolio composition while legally reducing their overall tax bill.
• Depreciation and Cost Segregation: Real estate owners can claim deductions for the "depreciation" of property value over time, offsetting rental income. "Cost-segregation studies" accelerate this process by breaking the property down into components that depreciate faster for tax purposes.
• 1031 Exchanges: This provision (also known as a "like-kind exchange") allows real estate investors to defer paying capital gains tax when a property is sold, provided the proceeds are reinvested into a new property of equal or greater value within a specific timeframe.
• Pass-Through Business Deductions: Business owners, including those with pass-through entities like LLCs, can potentially deduct a significant percentage of their qualified business income, a measure originally intended for small businesses but often utilized by high earners to lower their taxable personal income.
• Carried Interest Loophole: This allows hedge fund and private equity managers to classify a large portion of their earnings as lower-taxed capital gains, rather than standard income for services rendered.
• Strategic Philanthropy: Large charitable donations can be used to lower an individual's taxable income by writing off the value of the donations. This provides a tax advantage while directing funds to chosen causes.
• Business Expense Write-offs: Business owners can write off legitimate business expenses, which for the wealthy can include the use of private planes, lavish meals, or portions of their homes and vehicles used for business purposes.
• Hiring Family: Business owners can hire their children for legitimate work. The wages paid are a deductible business expense, and the child's income may be below the standard deduction threshold, effectively transferring wealth tax-efficiently within the family.

While these strategies are legal under the current tax code, they highlight how the wealthy leverage specific provisions related to business and investment income to accumulate and preserve wealth more effectively than those whose income is primarily from wages.

 

[Company 13]

Please provide a meaningful definition of "regressive tax" that correctly applies to a flat tax.

A regressive tax is larger burden on the poor. The example I just read and that you could read is that poor people spend most of their money on necessities.
If we went to a flat tax as you want to do, the rate for the rich would go down and the rate for the poor would go up.
Have you ever studied regressive taxes?

 

[Company 13]

How would you know what I have studied, Commie 13?

You are the one who can't explain your position.

I know you have studied this because you need tutorial on regressive taxation.

 

[rightwinger]

Really? They gave you away to amend it, it’s been done numerous times, including ending slavery

Hasn’t been an amendment in 30 years and that was trivial
Amendments take bipartisan agreement which Congress is no longer capable of

 

[M14 Shooter]

A regressive tax is larger burden on the poor.

All I see here is your inability to provide a meaningful definition of "regressive tax" that correctly applies to a flat tax.
Which is fair, given there is none.
Your claim that a flat tax is a regressive tax is false.

 

[Toddsterpatriot]

View attachment 1201745

This doesn’t apply to you and the other dumb statists posting here. You are miles away from understanding.

The only solution is for governments to own the means of production, eh comrade?