Hooray! Richest 1% Now Paying Lower Tax Rate Than Workers

[DudleySmith]

We've all seen it coming, but the day is suddenly arrived at long last. Our billionaire heroes like Jeff Bezos and Melinda Gates are no doubt giving themselves a huge pat on the back. Well, us working slobs can celebrate this day too. We've earned it. U.S.A.! U.S.A.!

Richest Americans now pay less tax than working class in historical first

America's top billionaires are now paying less tax than they have for decades.

www.newsweek.com

They've always paid a lot less. Only idiots will claim otherwise. They get all kinds of deductions working stiffs never see or are even aware of.

 

[Mikeoxenormous]

Can you blame them? If I could legally find a way to pay virtually no taxes I would in a heartbeat, everyone would, including you. But I can't because I can't afford a army of tax attorneys. So I can't be upset with someone doing the exact same thing I would do if I could. How can you chastise someone for trying to keep their money? But I get, they have more than you and it upsets you. Me? It doesn't because I have a decent life and I know one day I'll be dead so why bother worrying about people who are richer than me.

And don't forget, they can pay fewer taxes because the laws allow them to. And politicians won't ever change them because they themselves use them and so do their rich friends that donate money to them.

Trump said it well.



Even if they all did pay more taxes what difference would that make? We still send hundreds of billions to Ukraine, blow billions on all these illegals, send money to other countries, spend millions on wasteful government employees like dei people, have wasteful departments of the government that serve no purpose and so on. So what if we get another billion in tax dollars when we waste trillions?

I found ways, NOT to pay certain taxes. It is in the tax codes that Democrats set up for themselves. Want to NOT pay your fair share, stop bitching and figure out how to avoid paying so much in taxes. Only stupid people pay their fair share..

 

[Mikeoxenormous]

The government spends more than it takes in. How you ask? It issues debt which is purchased by the well-to-do. So, while the rich may pay a smaller percentage of their income, they finance the government's budget busting spending, much of which benefits the poorer classes.

Talking about taking in too much, the total income revenue of the Federal Suck Ass Government is about 5 trillion dollars, yet Joe Bribem spends over 6 1/2 trillion dollars. Back a few years ago, the national debt was only 5 trillion dollars total. The plan of the Marxists/Demofascists is to bankrupt America. When that day happens all hell will be paid....

https://www.usdebtclock.org/

 

[Mikeoxenormous]

They've always paid a lot less. Only idiots will claim otherwise. They get all kinds of deductions working stiffs never see or are even aware of.

Only lazy fucks who wont study the tax codes , dont know the deductions, so get fucked by the likes of Joe Bribem.

 

[DudleySmith]

The Marginal tax rate on the highest income earners in 1960 was 91%.

No, it wasn't; the top income earners were paying on capital gains income, and not anywhere near 50%, much less 91%. With capital gains you got a 50% deduction off the top, plus several thousand pages of possible deductions from those earnings, and the tax rate was only 25% of what was left after deductions. If your company provided you with your own private jet. you could deduct the solid gold faucets you had installed in the toilet of your plane that year, for instance. These days you can deduct your new swimming pool, if you play golf with the obliging doctors who will claim you need a swimming pool for 'rehabilitation n stuff', just to name one.

There is a reason D.C. has all those giant lobbying firms getting paid the Big Bux.

 

[DudleySmith]

Only lazy fucks who wont study the tax codes , dont know the deductions, so get fucked by the likes of Joe Bribem.

That, and the fact they don't have the income to even qualify for most of the big ones, and cant afford the tax lawyers fees for knowing where the lucrative ones are. Tax services make good money just off the short forms anybody can fill out but are as you say too lazy or stupid to read, or just can't wait a couple more weeks for their refunds.

 

[GLASNOST]

Hooray! Richest 1% Now Paying Lower Tax Rate Than Workers​

Democracy at its finest! We'll tax them workers till they can't afford a loaf of bread! That'll teach them a lesson they won't forget!

 

[Mikeoxenormous]

That, and the fact they don't have the income to even qualify for most of the big ones, and cant afford the tax lawyers fees for knowing where the lucrative ones are. Tax services make good money just off the short forms anybody can fill out but are as you say too lazy or stupid to read, or just can't wait a couple more weeks for their refunds.

I used to be a minimum wage punk. I took the risk, and received the reward. Too many lazy fucks cant leave their comfort zone, so the Marxists/Demofascist prey upon them financially.

Obama, created the cell phone tax, so the poor could have cell phones.
Obama, created the tax on medical equipment so your healthcare costs would necessarily soar.
Obama made energy prices soar, so you would have to pay more for gasoline and food.

Now Joe Bribem is doing the exact same thing, and you bitch and moan about rich people, instead of the fucking worthless government.

 

[Care4all]

Obama, created the cell phone tax, so the poor could have cell phones.

Fyi....

George W Bush created it, not Obama....that is fake news!

 

[ReinyDays]

Recapture is used if the asset appreciates, primarily real estate. If there is salvage value after full depreciation there is tax due if the asset has substantial value and is sold. Accelerated depreciation can only be applied to certain classes of depreciable assets. Most of the time the IRS doesn't bother with fully depreciated assets with a 'class life' of 5, 7, 15 years. The salvage value is too small to bother with.

Recapture is returning a deduction from a previous year that you are now not entitled to ... Power saws last 5 years in a carpenter's hands ... I deduct 20% per year each of the next 5 years ... that's depreciation ... instead of deducting that expense in one year ...

If we choose to accelerate that deduction, and then sell the saw after 2 years ... we have to return the accelerated deduction such that we only get the normal 40% straight-line deduction ... if we sell the saw after the full five years, then there's no recapture ... the money we sell the saw for is then 100% capital gains because it's fully depreciated ...

Real estate? ... land can never be depreciated ... commercial buildings can only be depreciated using straight-line method ... the purchase price is your basis, any future sales over and above this basis is capital gains, not recapture ... right idea, wrong verb ...

 

[Mikeoxenormous]

Fyi....

George W Bush created it, not Obama....that is fake news!

Liar..

Obama's phone tax is too much: Wireless bills are already taxed 17% | Digital Trends

President Obama's new initiative to connect remote schools to high-speed Internet sounds great, but it's bad for everyone who owns a cell phone. We're already being charged an average of 17.2 percent on each phone bill.

www.digitaltrends.com

 

[Care4all]

Liar..

Obama's phone tax is too much: Wireless bills are already taxed 17% | Digital Trends

President Obama's new initiative to connect remote schools to high-speed Internet sounds great, but it's bad for everyone who owns a cell phone. We're already being charged an average of 17.2 percent on each phone bill.

www.digitaltrends.com

Stand corrected... You're speaking of a tax.

I was speaking about the cell phone benefit, that y'all were calling an OBAMA PHONE.....That phone benefit was first created under President Bush Administration.

 

[Mikeoxenormous]

Stand corrected... You're speaking of a tax.

I was speaking about the cell phone benefit, that y'all were calling an OBAMA PHONE.....That phone benefit was first created under President Bush Administration.

Oh dont worry there "Carefornooneatall"(Care for no one at all), I have a great beef with the establishment Republican Georgie Bush. The guy who created the Dept of Homeland Unsecurity which allowed the shitty Government to spy on US citizens. Also had to feed the war machine by getting US involved in a war, that we couldnt win, just like Lyndon Baines Johson. He created like Tricky Dick Nixon(dept of Uneducation) the Every Child Left Behind Act, but hey, it took an outsider who exposed the Establishment for what they are, Haters of the US citizens. Here is a picture of those who hate US.

Do you think they are on to us yet? Just keep smiling and waving.

 

[LAUGHatLEFTISTS]

We've all seen it coming, but the day is suddenly arrived at long last. Our billionaire heroes like Jeff Bezos and Melinda Gates are no doubt giving themselves a huge pat on the back. Well, us working slobs can celebrate this day too. We've earned it. U.S.A.! U.S.A.!

Richest Americans now pay less tax than working class in historical first

America's top billionaires are now paying less tax than they have for decades.

www.newsweek.com

Yes! The rich took your money. It’s not that you’re to stupid and lazy to make more!

 

[Mikeoxenormous]

Yes! The rich took your money. It’s not that you’re to stupid and lazy to make more!

Yeah, and i bet that the stupid fucks, willingly gave up their money, just to be like the Jones......

 

[LAUGHatLEFTISTS]

Stand corrected... You're speaking of a tax.

I was speaking about the cell phone benefit, that y'all were calling an OBAMA PHONE.....That phone benefit was first created under President Bush Administration.

Cool story bro. Now explain why the program was created and for whom. Then compare Obamas vote buying plan and who got the free phones.

 

[HikerGuy83]

We've all seen it coming, but the day is suddenly arrived at long last. Our billionaire heroes like Jeff Bezos and Melinda Gates are no doubt giving themselves a huge pat on the back. Well, us working slobs can celebrate this day too. We've earned it. U.S.A.! U.S.A.!

Richest Americans now pay less tax than working class in historical first

America's top billionaires are now paying less tax than they have for decades.

www.newsweek.com

Wealthy individuals once paid high taxes on corporate profits, which were typically their primary source of income, and estate taxes on wealth passed down to their heirs.

They pay taxes on something. Then they want to pass it along.

And you want to tax it more.

How envious can you be ?

 

[Care4all]

Cool story bro. Now explain why the program was created and for whom. Then compare Obamas vote buying plan and who got the free phones.

I'm not a bro!

You mean like Trump and Bush buying votes with their tax cuts for the wealthiest?

 

[progressive hunter]

We've all seen it coming, but the day is suddenly arrived at long last. Our billionaire heroes like Jeff Bezos and Melinda Gates are no doubt giving themselves a huge pat on the back. Well, us working slobs can celebrate this day too. We've earned it. U.S.A.! U.S.A.!

Richest Americans now pay less tax than working class in historical first

America's top billionaires are now paying less tax than they have for decades.

www.newsweek.com

those same laws apply to everyone,, not just the rich,,

so stop lying by comparing income with capital gains,,

 

[ThisIsMe]

Not gonna lie..I kind of, low key, want dems to take over, fully, this year. I want to see if they have the guts to pass a wealth tax, raise capital gains tax, and increase taxes on rich people all around.

I’m to the point where I really want it to happen..just to see IF they do it, and how that will work out for them. Call it a morbid experiment…