President Biden: I proposed a minimum billionaire tax because no billionaire should be paying a lower tax rate than a school teacher or a firefighter

[Woodznutz]

The thing is, the more tax knowledge you have and the more money you have to hire the best accountants, the less tax you pay. No offence, but you're probably a regular employee so you think Bezos just gets his money on a wage slip.

You earn your money and pay tax to the level of your tax knowledge, Bezos is doing exactly the same thing, it's just that, his accountant's knowledge is beyond ours.

Even Apple, they channel their money through different countries for tax reasons, then executives receive their money in various ways other than a wage slip, for tax reasons. And it's all done to the tax laws.

So to say tax billionaires, precisely tell me, how will you achieve this?

The only was to get more taxes from anyone is to change the tax laws.

 

[Captain Caveman]

The only was to get more taxes from anyone is to change the tax laws.

Correct, and every time you try that, they find new ways.
So which tax will you change and how, precisely?

 

[Woodznutz]

Correct, and every time you try that, they find new ways.
So which tax will you change and how, precisely?

First, we have to reduce the need for taxes.

 

[Captain Caveman]

First, we have to reduce the need for taxes.

Direct taxes, yes, for example there should be no income tax. Indirect tax, yes, the places where you decide to spend your money should attract varying degrees of tax, then it's up to you how much you spend and on what. The tax on a super car should be 100%, then if a billionaire buys a Bugatti Veyron, you got another million or two tax out of them, same with super yachts.

 

[kaz]

Bernie is right. i mean Biden is right. billionaires shouldn't exist when there are so many who are suffering with so few resources

This is pure evil, the point of taxes is NOT supposed to be social engineering. It's sick

 

[kaz]

Direct taxes, yes, for example there should be no income tax. Indirect tax, yes, the places where you decide to spend your money should attract varying degrees of tax, then it's up to you how much you spend and on what. The tax on a super car should be 100%, then if a billionaire buys a Bugatti Veyron, you got another million or two tax out of them, same with super yachts.

I'm not gay, but reading this is making me a little hot ...

LOL, just kidding, but I totally agree. Direct taxes lead to the shit, oppressive system we have now

 

[Captain Caveman]

I'm not gay, but reading this is making me a little hot ...

LOL, just kidding, but I totally agree. Direct taxes lead to the shit, oppressive system we have now

Wages, food, heat, light, and power should be tax free. Purchases should attract tax according to necessity. So a gun should be 200% sales tax, a child safety seat in a car 5% sales tax etc..

 

[Mikeoxenormous]

Direct taxes, yes, for example there should be no income tax. Indirect tax, yes, the places where you decide to spend your money should attract varying degrees of tax, then it's up to you how much you spend and on what. The tax on a super car should be 100%, then if a billionaire buys a Bugatti Veyron, you got another million or two tax out of them, same with super yachts.

And then no one buys super yachts or Bugatti Verons, thus putting those people out of work. Keep it simple, a flat 15% sales tax for the Fed and no other taxes for income. And stop the fucking wasteful spending. If people (PORK) working in the government are non essentials, then fire all them and save billions of dollars a year and put them into the economy that Joe Biden is so proud of....

 

[kaz]

Wages, food, heat, light, and power should be tax free. Purchases should attract tax according to necessity. So a gun should be 200% sales tax, a child safety seat in a car 5% sales tax etc..

I don't agree with that. When you give government the power to decide what we need, then they will, and it will be politically motivated like the system we have now.

There should be one sales tax and it should all be the same rate. We pay all those taxes now, they are just embedded in the price. Giving government the power to make decisions will never lead to good results, they aren't good people

 

[Captain Caveman]

And then no one buys super yachts or Bugatti Verons, thus putting those people out of work. Keep it simple, a flat 15% sales tax for the Fed and no other taxes for income. And stop the fucking wasteful spending. If people (PORK) working in the government are non essentials, then fire all them and save billions of dollars a year and put them into the economy that Joe Biden is so proud of....

No, they'll still buy them.

In Denmark, the value of the car attracts various bands of vat%, upto 150% -

Registration tax and rates The Motor Vehicle Agency (Motorstyrelsen)

skat.dk

 

[kaz]

No, they'll still buy them.

In Denmark, the value of the car attracts various bands of vat%, upto 150% -

Registration tax and rates The Motor Vehicle Agency (Motorstyrelsen)

skat.dk

True, but many of them are leaving Euro tax countries to evade the high taxes

 

[Captain Caveman]

I don't agree with that. When you give government the power to decide what we need, then they will, and it will be politically motivated like the system we have now.

There should be one sales tax and it should all be the same rate. We pay all those taxes now, they are just embedded in the price. Giving government the power to make decisions will never lead to good results, they aren't good people

In the UK, vat rate is 0%, 5%, and 20%. A cold pie is 0%, a warm pie 20%, a child seat for a car 5%, energy 5%, a new car 20%

 

[Captain Caveman]

True, but many of them are leaving Euro tax countries to evade the high taxes

And that's what will happen to America if they try to tax billionaires

Biden et. al. will want to tax the rich at a certain rich level just above what they squandered out of being a politician

 

[The Sage of Main Street]

First, we have to reduce the need for taxes.

Money Going Back Where It Came From

Limiting inheritances to $100,000 will eliminate the need for all other taxes.
From the 1% alone, that brings in $4 trillion a year.

 

[kaz]

Money Going Back Where It Came From

Limiting inheritances to $100,000 will eliminate the need for all other taxes.
From the 1% alone, that brings in $4 trillion a year.

Wow, that's evil. People work their entire lives and government confiscates it when they die. We need to spend less

 

[Mikeoxenormous]

No, they'll still buy them.

In Denmark, the value of the car attracts various bands of vat%, upto 150% -

Registration tax and rates The Motor Vehicle Agency (Motorstyrelsen)

skat.dk

A rich person doesnt spend his way into wealth.....

 

[Woodznutz]

And then no one buys super yachts or Bugatti Verons, thus putting those people out of work. Keep it simple, a flat 15% sales tax for the Fed and no other taxes for income. And stop the fucking wasteful spending. If people (PORK) working in the government are non essentials, then fire all them and save billions of dollars a year and put them into the economy that Joe Biden is so proud of....

Income taxes are a more reliable source of revenue than the sales tax.

 

[BluesLegend]

President Biden: I proposed a minimum billionaire tax because no billionaire should be paying a lower tax rate than a school teacher or a firefighter​

Biden is a big fat LIAR!

 

[Woodznutz]

Money Going Back Where It Came From

Limiting inheritances to $100,000 will eliminate the need for all other taxes.
From the 1% alone, that brings in $4 trillion a year.

If all I could bequeath to my kids was $100,000, I'd set up a trust for the rest and name them as trustees.

 

[iamwhatiseem]

He could have proposed and demanded and pushed for this when the Democrats had the House also but he did not. This is what politicians do.