President Biden To End Tax Havens For The Mega Rich

[ColonelAngus]

Biden is going to reverse Trump's tax cuts and everyone's taxes will go up not just for the employers and job creators....
Working men and women... single mothers... school teachers... public employees... doctors.... maintenance workers.... contractors... farmers.... everyone's taxes will go up...

So racist.

 

[g5000]

A thief will find a way.

Yeah. Like claiming their 11,000 square foot apartment is 30,000 square feet.

 

[g5000]

LOL. 50% pay zero federal income taxes. That puts a burden on the rest of us.

Yeah, there are a lot of one-percenters and corporations who pay no federal taxes, and it certainly does put a burden on the rest of us.

 

[Sunni Man]

Thanks President Biden. Lets relieve them of that extra money to pay back to the societies they robbed it from. Then pass laws putting the golden parachute crowd in prison,

Lenin and Marx totally agree with you comrade. ..

 

[Independent thinker]

Yeah, there are a lot of one-percenters and corporations who pay no federal taxes, and it certainly does put a burden on the rest of us.

That's just not true. It is a myth pushed by the left.

Summary of the Latest Federal Income Tax Data, 2023 Update

The latest IRS data shows that the U.S. federal individual income tax continued to be progressive, borne primarily by the highest income earners.

taxfoundation.org

 

[Dekster]

When some people get to avoid taxes, the burden is heavier on the rest of us. And it’s not easy to fight tax havens, since most are abroad and the mega-rich are always finding new ways to hide their money.

The world’s most powerful nations agreed on Friday to a sweeping overhaul of international tax rules, with officials backing a 15 percent global minimum tax and other changes aimed at cracking down on tax havens that have drained countries of much-needed revenue.

Many of our international partners, including many of the world’s largest economies, have implemented or will soon implement this transformational agreement. The President’s Budget proposes to do the same by reforming the international tax system to reduce the incentives to book profits in low-tax jurisdictions, stopping corporate inversions to tax havens, and raising the tax rate on U.S. multinationals’ foreign earnings from 10.5 percent to 21 percent. These reforms would ensure that profitable multinational corporations, including Big Pharma, pay their fair share.

President Biden Is Out to End Tax Havens for the Mega-Rich: Boosting Biden Day 106

So what are tax havens, anyway? The EU tells us: “Tax havens”�provide taxpayers, both�[corporations] and natural persons, with opportunities for tax avoidance, while their secrecy and opacity ...

www.dailykos.com

Thanks President Biden. These scofflaws have entirely to much money to spend on political campaigns. Lets relieve them of that extra money to pay back to the societies they robbed it from. Then pass laws putting the golden parachute crowd in prison, when they try to hide the money. You can deal with these billionaires. Just let them eat the fine cuisine of a federal prison for several years.

Your tax burden is based on your income and your income alone. It doesn't matter if the rich evade taxes or student loans get discharged or the government buys a $50K trashcan.

 

[Nostra]

Yeah, there are a lot of one-percenters and corporations who pay no federal taxes, and it certainly does put a burden on the rest of us.

Corporations don’t pay taxes, stupid.

 

[jc456]

just more evidence that demofks don't have a clue on how economics works. Where money from jobs actually comes from.

 

[jc456]

Corporations don’t pay taxes, stupid.

every person in their employment do!

Another variable that demofks have no clue about.

Oh, and all of those people pay local taxes, state taxes and property taxes from the money they get from that corporation. It's really a shame that demofks can't learn.

 

[Nostra]

every person in their employment do!

Another variable that demofks have no clue about.

Oh, and all of those people pay local taxes, state taxes and property taxes from the money they get from that corporation. It's really a shame that demofks can't learn.

Yep.

But he is clueless that corporations have to pass the cost of any tax onto the consumer.

 

[jc456]

Yep.

But he is clueless that corporations have to pass the cost of any tax onto the consumer.

and why cities and states don't make them pay it.

 

[skews13]

countries quit wasting so much on war that would help a lot also.

This from someone that supported Freedom Fries, and was for staying in Afghanistan after 20 years.

There are no rightards that have any credibilty on war.

Of course you can prove me wrong, and state your total opposition to the war in Gaza, and the occupation of Ukraine by Russia.

Anything other than what I just propsed proves my point.

 

[skews13]

Yep.

But he is clueless that corporations have to pass the cost of any tax onto the consumer.

Yeah, we've all heard that bullshit excuse ad nauseum.

Let them try to pass those costs, so we can watch their competion undercut their prices and cost them billions in profit share on top of the taxes.

And this is now world wide. No where to run. No where to hide.

 

[jc456]

This from someone that supported Freedom Fries, and was for staying in Afghanistan after 20 years.

There are no rightards that have any credibilty on war.

wrong. just fking wrong, you got nothing. We were all mostly against the Iraq war under bush 2.

Afghanistan as well. Trump was working on getting our troops home! creepy failed it.

Of course you can prove me wrong, and state your total opposition to the war in Gaza, and the occupation of Ukraine by Russia.

creepy is fighting russia through a contractor ukraine. there's that, so basically you shot yourself on that one.

For gaza, Hamas must release all hostages or fk off.

 

[justoffal]

View attachment 957370

I agree with the premise but the idea that anyone can get it done is extremely laughable. One of the things that will hurt it is that our own legislative monkeys will do nothing to hurt themselves.

 

[westwall]

When some people get to avoid taxes, the burden is heavier on the rest of us. And it’s not easy to fight tax havens, since most are abroad and the mega-rich are always finding new ways to hide their money.

The world’s most powerful nations agreed on Friday to a sweeping overhaul of international tax rules, with officials backing a 15 percent global minimum tax and other changes aimed at cracking down on tax havens that have drained countries of much-needed revenue.

Many of our international partners, including many of the world’s largest economies, have implemented or will soon implement this transformational agreement. The President’s Budget proposes to do the same by reforming the international tax system to reduce the incentives to book profits in low-tax jurisdictions, stopping corporate inversions to tax havens, and raising the tax rate on U.S. multinationals’ foreign earnings from 10.5 percent to 21 percent. These reforms would ensure that profitable multinational corporations, including Big Pharma, pay their fair share.

President Biden Is Out to End Tax Havens for the Mega-Rich: Boosting Biden Day 106

So what are tax havens, anyway? The EU tells us: “Tax havens”�provide taxpayers, both�[corporations] and natural persons, with opportunities for tax avoidance, while their secrecy and opacity ...

www.dailykos.com

Thanks President Biden. These scofflaws have entirely to much money to spend on political campaigns. Lets relieve them of that extra money to pay back to the societies they robbed it from. Then pass laws putting the golden parachute crowd in prison, when they try to hide the money. You can deal with these billionaires. Just let them eat the fine cuisine of a federal prison for several years.

You're so stupid you probably believe it. Here's a clue, just like your hero the shrillary declared she was a "warrior for women" in all of her 50 years in the political realm, she had NOTHING to show for all of her fighting, except her getting rich.

The same is true of this crap. The Uber wealthy OWN Joey bribem, so lots of words, but not one thing will happen, but stupid rubes, like you will repeat whatever the Uber rich tell you.

 

[Nostra]

Yeah, we've all heard that bullshit excuse ad nauseum.

Let them try to pass those costs, so we can watch their competion undercut their prices and cost them billions in profit share on top of the taxes.

And this is now world wide. No where to run. No where to hide.

You are economically illiterate. 100%. (That means a lot)

 

[justoffal]

Yep.

But he is clueless that corporations have to pass the cost of any tax onto the consumer.

Corporations on bound to do anything to take care of their shareholders. As you can see from posting on this board many Democrats here are definitely shareholders. In fact I'm coming to see that it's more of a democrat than a Republican thing. They keep stepping forward and bragging about how well they're doing because of the stock market even though main street is falling through the surface of the earth financially.

 

[Unkotare]

.....I can't prove it...

Of course.

 

[justoffal]

When I lived in CA.....I can't prove it but Total Tax Burden on median income, homeowners seemed to be over 60%.

That's probably an underestimate.

JO