https://www.propublica.org/article/...veal-how-the-wealthiest-avoid-income-tax

Chuck= professional liberal troll, unpatriotic and worthless to the core.

You do understand that the tax code, as currently written, taxes income when realized, not unrealized capital appreciation. In other words, until I sell an asset that has appreciated (stocks, for example), the fact that it has gone up in value is irrelevant. It may also go down in value before I sell and I will not get a deduction from income for the reduction in value.

Take a look at the chart in the attached article to see what is paid by each quintile of income.

https://www.heritage.org/taxes/commentary/1-chart-how-much-the-rich-pay-taxes

Chuck doesn’t do facts, which by the way is exactly what you presented. Nice work.

It’s been highlighted plenty that the top 5 % pay well in excess of 50% of all taxes, but I guess Chuck will say that’s not their fair share. Wow.

I really don't care how much the wealthy pay in taxes. I care about how much I pay in taxes, which is too damn much. And it always goes up regardless of which party is in office.

Spare me the worn out talking points.

The House passed Build Brandon Back bill reinstates the SALT deduction that will specifically help the most wealthy.

He should only care that his colostomy bag and wheelchair tires are paid for on the back of the working man.

Warren Buffett's tax rate is 18.96% which is pretty damn high and a payment of $23,700,000 is substantial. His balance sheet does not enter into the equation and neither does appreciation on unsold assets. If your going to tax his appreciated assets are you going to give him a refund when they go down?

Problem is not tax collection but government spending that is out of control.

And dumb fing liberals.

Wonder what his secretary makes?
I seem to remember him saying the secretary pays more in taxes than he.

The wealthiest shouldn't have to pay any income tax.

Nailed it. If the Dems want more tax money to fritter away, how 'bout taxing the poor evenly.

Everybody should have skin in the game.

[quote=ShaunRyan]I really don't care how much the wealthy pay in taxes. I care about how much I pay in taxes, which is too damn much.[/quote]

So, what pray tell is the "right" amount of taxes?

So what? Do you expect me to buy into your class envy?

I care not what happens in this matter. You can never steal enough from the rich to satisfy the wants of the poor.

I am much concerned that the IRS has become an income redistribution system where money is transferred from the working class by the $billions or possibly $trillions into the pockets of those who have not earned it via child tax credits, earned income credits, etc, etc.

Hold every tax filer to make no profit from their filing, and the US budget will be much closer to balanced.

If they tax unrealized capital gains it will destroy our capitalistic system and we will all descend into a Marxist hell of shared poverty.
I doubt suck azz charlie even knows what that means

yet another SA(homo)charlie troll stir the pot thread.

How much do YOU pay in taxes, pussy!!??!!

You ain’t got a clue!

I didn't state that I pay the "wrong" amount of taxes but the answer to your question, if I understand it correctly, is less.

The op hasn't been right about anything else so why should he start now.

He sucks off the taxes that you pay, he's a user not a contributor.

I other words he's a Parasite.

Stooopid azz charlie stopping in for his daily need for attention.


🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣

In addition the bottom 40% of earners don’t pay a damned thing, but still get money back via things like earned income tax credits. So, not buying this bullchit.

You should have made better life choices. BTW, it's an income tax, numbphuck.

So the really rich pay the same taxes as the 60% lowest income americans? Seems fair to me.

Then why did the House vote for the elimination of the SALT ? It's like giving the rich a huge pay increase. Why ??

Oh yea, they are the ones who financed the "defeat" of Donald Trump. We were always told the republicans take care of the super rich. ("bankers" as my father in law called them)
The super rich and democRATS make for strange bed fellows. But, anything to perpetuate the "swamp" in it's current form.

kwg

I don't want the wealthy to pay more, just pay an equal amount or equitable percent on income if we have to pay taxes. Just have it fair and not punishing anyone regardless of income amount.

That said I detest the wealthy and corporate tax structures that the tax system allows company executives to take stock option and other options and defer them and not qualify them as income. That is extremely unfair and a rigged system. If corporate execs can defer assets given to them for performance and employment then everyone should have the same structure. This is genuinely a class warfare move that should get addressed.

It gets worse with the real rich and their foindations and philanthropic programs. That's probably the biggest tax scam ever that the truly wealthy are involved in and they get painted as saints for not paying taxes on deferred and managed charity programs.

Still it would be wrong to penalize someone just because of income as the socialists aim for. Having equality is good enough for me

Everybody should pay 10% of every dime they earn if we are going to continue taxing income. Every dime! No exclusions. No deductions. You earn more, you pay more. Everybody should pay if anyone has to.

Over half the country does not pay anything! You want equity? Change this!

^^^^ This!!

I'm taxed when I make money.

I'm taxed when I spend the money I've made and paid taxes on already.

greg did you mean taxed on what you earn?

Or, taxed on all income.

There is a difference.

And that difference is what I think you might be alluding to.

The income you earn from an employer is treated differently than
other income.

That other income is a Pandoras Box.
It's how the well off avoid taxes on money they make.
It also is a driver for investment that improves our economy and
lives for everyone.
And you are benefittting from it with retirement investments also.


Several years there was a push for The Fair Tax.
Around 23% flat tax on every single thing you buy.
That was a replacement for wage taxes for Federal Income and SS.

Every wage earner was entitled to a certain monthly stipend for
essentials. So you would receive an automatic reimbursement from
the IRS to cover taxes paid on necessities. This was food, clothes...
It was too offset the policies of not paying taxes until a certain
income level.

So your welfare rat paid taxes.
If he was in the dole, working under the table, he got to help us
foot the bill, finally.

The drug dealer had to pay when he bought a new Navigator.
The guy buying properties as "investments" to protect money
had to pay taxes.


It was a radical idea that I supported.
But, it was doomed from the start.
It was so simple, there was 0 paperwork.
No need for tax lawyers, accountants, tax services, serious reduction
in IRS staffing. Not hard to see why there was incentive to kill it,
And who was against it.

Biden's Build Back Better has a lot of tax cuts in for the super rich- paid for again by the middle class.


Democrats are the party of the white privileged super rich and the uneducated lazy poor.

Typical SAcharlie style --- Make some ridiculously asinine post or comment without the slightest idea what he's talking about and then when he has his ass handed to him he slithers off like a intestinal parasitic worm.

You know, I don't even read any of your B.S. anymore, Suck A$$ Charley, but I'll pop in on as many of your stupid titles (they're easy to spot) as I see and just wish you a slow, painful death...

Burn in HELL, Liberal SCUM!

Stupid people like you continue to berate success, which you use wealth as the litmus test of how bad wealthy people are.

Meanwhile, you march lockstep behind your Democratic leaders that condemn the rich, yet they are some of the wealthiest people in the country.

Your hypocrisy is as bad as the dishonesty of your Democratic leadership.

We could take ALL their money and it wouldn’t be a drop in the bucket of what we owe and/or what we will owe 🤬

about 1 percent,, federal state local combined

Hey char lie, I bet they all pay more than the welfare collecting scabs, you hang with!

Assuming we’re sticking with income tax, I meant ALL income.
I’d prefer a national sales tax, or better yet, a flat yearly fee for the privilege of living here.

https://www.youtube.com/watch?v=661pi6K-8WQ

How many times should the same dollar be taxed?

Tax it when your clients pay you for a job completed.
Tax it again when you use it to buy supplies to do that job, or pay your employees.
Tax it again when that employee pays for his groceries.

An entrepreneur should be taxed on NET income.

There should be ZERO corporate income tax. That dollar is taxed as income when paid out to shareholders.

I notice all the talk about "flat tax" a couple of election cycles ago sure disappeared fast. So taking that a step further, if the politicians wanted it dropped, probably the fat cats that buy and sell the politicians wanted it dropped, which means it's maybe a good thing for underachievers like me who have dirt under their fingernails.

This discussion is the usual "You have more than me and it's not fair". Wealth envy drives class warfare.

The neosocialists are playing by the same old tired (and failed) playbook - take from the productive, retain power over the masses, and keep everyone on the government plantation.

Regardless of how much money the democrats take from the productive, they will continue their deficit spending spree.

Rather than worrying about taxing rich people out of existence, you’d be better served working on getting rich so you don’t have to pay taxes either. Envy is an ugly look.

WTF Chuck.... can't you do something positive for society, instead of gracing the campfire with your leftist stupidity?

Like how about going down to the street corner and just get hit by a bus, for example.

Liar. The top 1% pay 39% of all income taxes. The bottom 50% of income earners pay just 3% of all income taxes. And if we confiscated all the wealth of all the billionaires in America, we could run the government for only 8 months.

https://taxfoundation.org/summary-of-the-latest-federal-income-tax-data-2020-update/


https://www.bizpacreview.com/2019/0...-keep-the-government-running-for-724486/

My wish would be that for every $10k of federal income tax you pay above the first $10k, you get an extra vote. We have too many freeloaders in this country who have no stake in seeing a shrinking government, only larger and larger.

Remove the vote from those who pay no taxes. After we stop paying those who pay no taxes refunds on their taxes.

Friends, do not get upset. By wealthy he means those with $50,000,000 or more in assets, not a personal attack for vast majority of you.

What country Slavek?

GFY!
I don’t think your post is accurate, but let’s pretend it is. I’d no rather see my fellow country man get screwed than to get screwed myself. If you do not believe the same, you should find another country. Now!

You sure that's what he means. Must be nice to read minds.

why treat with trolls and fools? They are playing y'all like a violin, and you always dance to their tune.

There is nothing wrong with prosperity and wealth, people should do well in their businesses, trades and professions, yet excessive concentrations of wealth in a small percentage of the population can cause problems.

If, for example, 1% of the population holds 90% of the wealth, that situation is not necessarily good for the economy or society.

And no, I am not a communist.

If they started taxing debt the super rich would start to pay a lot but then the government would go bankrupt.

I like the way you think and your honesty. I say, fück them. The goal should be to pay smallest amount possible allowed by laws and regulations. That is the capitalist spirit.

What would you propose as a solution?

And there is the rub

You are 100% right on the top getting richer.
And that's bad for the nation across the board. In many ways.

But, it's also a natural progression of capitalism,
And finding a way to limit it, without squelching investment,
innovation, or ambition(that benefits society), is not easy.

Even just as theory.

The rich getting richer is a natural by product of capitalism.... where it goes of the rails is when they hire lobbyist and use wealth to further an ideology... i.e. George Soros, Mark Zuckerberg etc....

Given human nature, there may not be a solution. Business as usual.

Enforce the antitrust laws that we already have on the books.

Re-establish an actual free market instead of continuing to participate in a corrupt crony-capitalist system that's tied into politics by taking the cash transactions out of lobbying and imposing term limits on elected officials and unelected bureaucrats alike.

Abolish the Fed.

Abolish the IMF.

Revoke the tax-exempt status of for-profit foundations (because that's what they are - think Gates).

Prosecute the offshoreing of assets to avoid tax liability.

Vote more conscientiously with our dollars.

Have integrity and demand it of others, especially those with whom you do business.

Stop buying their crap, literally and figuratively.

For a start.

Wealth growth is not taxable moron

This is directed at Charlie

There would be a lot of resistance.

The problem has long been SPENDING. Politicians steal from the productive to buy power for themselves. It’s impossible to make people prosperous, but you can help them to become productive so they can make themselves prosperous. When government gives away money, it devalues work, and as we have seen, money itself, yielding inflation. As others have shown, the wealthy don’t have enough money or assets to bail us out of this sh*tpile. Only limiting spending, combined with increased productivity, can do that. Even SuckAzzChuck can see that, but his job is stirring the pot. May his boyfriend give him a painful rash where the sun doesn’t shine.

The Norwegians used to have a cure for accumulating familial wealth.

At death they piled it on a boat with your body, and sent it out to sea in flames. Too bad for the wives and concubines that they were considered property.

What would happen if you took billions away from the rich and gave it to the poor?

Five-10 years later most of the poor would be poor again and the rich would have most of it back.

I haven’t read any of this thread, only the title. I just want to take a moment to tell SA that he is a dumbfuk. Half of the people in this country don’t pay a federal income tax. Where is there fair share? Idiot.

As a former President once said...

"Worship the Wealthy if you want to stay healthy!"

How far does it go? What is a good balance?

You do know that Musk's salary at Tesla is $1 a year. It is also $1 at SpaceX. He recently had to pay capital gains taxes in the form of SEVERAL Billion dollars from his Stock Options. Income tax is not the only tax. Tesla stock went sky high and thus he has to pay a capital gains tax on his profits. He also lives at Boca Chica, Texas in a 20' x 20' house because he pours all his money into his new Mars rocket. He believes we should colonize Mars to keep some humans free from possible killer pandemics, nuclear wars, or a giant asteroid hitting earth. He is putting his money where his mouth is.

Bezo's on the other hand in my opinion is a jerk. He sued NASA recently for not giving him an award that they gave to SpaceX which was the lowest bidder by half. He lost, but wasted 6 months of NASA's time. He doesn't have an ORBITAL rocket only a sub-orbital hop up and parachute back down. SpaceX has launched over 100 orbital rockets launching satellites as well as NASA astronauts to the ISS. Anyway, for Bezo's it is all about him. Musk is more shy and humble.

Not so simple;
"Elon Musk is officially richer than Warren Buffett, according to the Bloomberg Billionaires Index ranking of the wealthiest people in the world.

Top corporate executives like Musk often receive most (or even all) of their compensation in the form of potentially illiquid stock or options in the companies they lead, rather than in cash.

The discrepancy comes from the pay being calculated in accordance with Securities and Exchange Commission rules on CEO-compensation reporting, as opposed to the actual value realized by executives in any given year."

https://www.businessinsider.com/elon-musk-tesla-compensation-explanation-2019-6?amp

Unlike you, you sorry POS....THEY provide MILLIONS OF JOBS!!

If that anger is directed at me, you missed the point.

OK, Gentlemen, here is my tax plan. Every year when you do you Federal and State income taxes (not all states have this), there is a form to fill out where you designate a percentage of your tax money to fund things. Like 10% to the military, and 10% to infrastructure and on and on. When you designate 100% you are through for that year. Any thing not funded goes away. Does not change what you pay, just how it is spent. I think this would soon make for smaller Government and less waste. With the computers available should not be a problem to do. miles

Libs - and gov't - can never figure that out...

A federal sales tax on everything bought, sold or imported into the country without any loop holes for the rich or poor.

This is something that the neosocialists do not comprehend. While the corporation may pay no or close to no corporate tax, their existence generates trillions in a litany of trickle down taxes. Tax the corporations out of competitiveness and those trillions evaporate.

Trumps tax policies not only made US corporation more competitive on the international market, he created record number of tax paying jobs in every socioeconomic sector.

All Biden had to do was show of for work, do nothing, and he would have been a hero. So much for that course.

It wasn’t!

In a nutshell

Any system of taxation that gets rid of the IRS would be a major and wonderful blow to the thugocracy.

A clear picture of how little you know!

Cheers.