biden hilariously proclaims the rich should pay their fair share of taxes

[Blues Man]

Buffett has discussed the issue many times. Just because I use one example does not mean that there are not many other examples. (there are).

Not as many as you think.

And the government wouldn't get as much revenue as you think it would.

Everyone in government knows that the middle class is where the tax revenue is. The middle class far outnumbers the "rich" they all hold regular jobs, work for at least 40 or 50 years and will pay income taxes for all those years then most will have some sort of IRA or 401 k that are designed to squeeze every single cent of taxes as possible from retirees.

 

[pknopp]

Not as many as you think.

And the government wouldn't get as much revenue as you think it would.

I never argued how much it would be. I made a simple argument. Income should all be taxed the same.

Everyone in government knows that the middle class is where the tax revenue is. The middle class all hold regular jobs, work for at least 40 or 50 years and will pay income taxes for all those years then most will have some sort of IRA or 401 k that are designed to squeeze every single cent of taxes as possible from retirees.

Which does not in any way address my position.

 

[leftwinger]

Say i bought 1000 shares IBM as a kid at $1 using after tax dollars.. Now pretend it's worth $100 and with three splits.

So i have $300K because i was smart. You want more than 12% if i sell it all? How much more? I took the risk. IBM used that investment money to grow?

 

[francoHFW]

Once again!

Yes yes, we know you are totally brainwashed with GOP BS and you can only talk about federal income taxes our only progressive tax. All other taxes hit regular people twice as hard....

 

[BothWings]

Everyone should pay taxes

Every dollar of income by everyone should be taxed at the same rate

Putin chose a flat tax rate for Russia way back in the 90's, and also raised the average income by an amount equal to about $600/mo. It was an about-face from the communist policies that ran the country into ruin in 80's and was the reason for his popularity. People liked what he was doing and they wanted more. It wasn't enough for some of the new middle class who wanted to become elite and were angry that some policies prevented corporate monopolies on essential industries and prevented CEO's from making insane salaries while workers got peanuts. Putin didn't come to power and stay in power simply bumping off rivals or being sneaky. He had respect from most Russians which was honestly earned, regardless what anyone wants to say about him and the situation in Ukraine today.

 

[Blues Man]

Yes yes, we know you are totally brainwashed with GOP BS and you can only talk about federal income taxes our only progressive tax. All other taxes hit regular people twice as hard....

The only equitable tax is a flat tax.

 

[rightwinger]

Your average work a day employee has no imagination and generally can't think their way out of a wet paper bag.

Far from the truth

Corporations hire people all the way up from Janitors, to material handlers, to production, to design engineers, to accountants to lawyers

 

[Lisa558]

Biden has already raised taxes on the rich

Biden’s effectively raised taxes on everyone, via inflation. Time to stop spending and printing money.

 

[francoHFW]

Say i bought 1000 shares IBM as a kid at $1 using after tax dollars.. Now pretend it's worth $100 with three splits.

So i have $300K because i was smart. You want more than 12% if i sell it all? How much more? I took the risk. IBM used that investment money to grow?

... And then you get 70% of elderly living in poverty instead of only 20% with our Social Security system. Misinformed Republicans think they are billionaires having a bad run LOL...

 

[rightwinger]

The only equitable tax is a flat tax.

There is no flat tax that does not result in the working poor paying more and the wealthy paying less

 

[Blues Man]

Far from the truth

Corporations hire people all the way up from Janitors, to material handlers, to production, to design engineers, to accountants to lawyers

And you think ALL businesses are big corporations?

Most people are employed by small companies with less than 100 employees

 

[rightwinger]

Biden’s effectively raised taxes on everyone, via inflation. Time to stop spending and printing money.

Inflation is a global problem. Biden has cut the inflation rate in half

 

[Lisa558]

The only equitable tax is a flat tax.

Yes, and the way we can make it fair to those who will scream that the poor are harder hit is to exempt the first $20,000 for food and rent.

After that, everyone pays the same rate.

 

[rightwinger]

And you think ALL businesses are big corporations?

Most people are employed by small companies with less than 100 employees

So?

Small companies hire people at all levels. All working to create wealth

 

[Lisa558]

And you think ALL businesses are big corporations?

Most people are employed by small companies with less than 100 employees

Yup - and these are the businesses the Dems are happy to drive into bankruptcy. Look at how they let Target and Walmart stay open during COVID, and shut down the little shops netting perhaps $50,000 or $60,000 for the owner after expenses.

 

[BS Filter]

Employers make a profit off of every employee.
Giving someone a job is not charity. It is the workers who create wealth

Workers don't create the job.

 

[Blues Man]

There is no flat tax that does not result in the working poor paying more and the wealthy paying less

Yes there is.

Tax ALL income at the same rate. That means if someone gets 1 million in stock options then that 1 million is taxed at the same rate as the income some assembly line monkey earns.

10% of the gross would be sufficient.

 

[SassyIrishLass]

So?

Small companies hire people at all levels. All working to create wealth

You want the "rich" to pay say 30% then you should pay 30%. That's a fair tax

 

[BS Filter]

So?

Small companies hire people at all levels. All working to create wealth

Yes, but the people with the initiative, ideas and capital create the jobs.

 

[Lisa558]

So?

Small companies hire people at all levels. All working to create wealth

And what’s wrong with that? They are creating wealth* by having identified a need, and then developing a business to serve it.

*”wealth” for the small businessman can end up being a five-figure income after he pays staff and expenses.