President plans to unveil new 20% 'minimum tax' on 700 super-rich Americans that would levy ALL forms of income for families worth more than $100M

[Aldo Raine]

FIRST be in favor of spending cuts BEFORE one damn cent in tax increases. Get all the deadbeats off their ass and make them work for their handouts while we are cleaning up the mess.

Yup, I agree. Let's start by cutting defense spending in half.
MAGA

 

[Lisa558]

Wrong.

What a brilliant, insightful post from a leftist.

 

[bripat9643]

Well then 20% minimal tax should be moot for them...of course we both know thats not true, you are just skirting the issue.

You want them to turn over 20% of their net worth to the government every year. In five years they will all be bankrupt.

You're a commie idiot.

 

[bripat9643]

Yup, I agree. Let's start by cutting defense spending in half.
MAGA

Let's start by cutting welfare in half.

 

[bripat9643]

Wrong.

How is it wrong?

 

[bripat9643]

Congress can raise revenue
Doesnt limit how

Yes it does, moron.

Representatives and direct Taxes shall be apportioned among the several States which may be included within this Union, according to their respective Numbers, which shall be determined by adding to the whole Number of free Persons, including those bound to Service for a Term of Years, and excluding Indians not taxed, three fifths of all other Persons. ​

​

The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;​

​

No Capitation, or other direct, Tax shall be laid, unless in Proportion to the Census or enumeration herein before directed to be taken.​

​

No Tax or Duty shall be laid on Articles exported from any State.​

 

[jc456]

Yup, I agree. Let's start by cutting defense spending in half.
MAGA

cut the funds to hollywood.

 

[g5000]

How is it wrong?

People who don't earn enough to pay income tax only get refunded their money which was withheld from their paychecks. They don't get "money transferred to them from other people’s taxes".

 

[g5000]

As their stock rises in value, they are able to finance lavish lifestyles by taking out loans secured by their stock holdings. But loans are not taxed as income, and in many cases the interest payments are tax deductible.

​

Yet another reason we need to eliminate tax expenditures.

 

[g5000]

Only morons like you believe such a law wouldn't come back to bite them in the ass.

The last thing I want is government confiscating the assets of anyone.

The people of Ukraine are fighting against people who support that kind of shit.

Ukraine has a VAT.

 

[g5000]

I’m in favor of a minimum tax - for EVERYONE. On a sliding scale of course, but everyone should have to pay at least 1%.

So you disagree with Thomas Jefferson then.

 

[g5000]

I Absolutely agree.

A single rate flat tax, everyone pays the exact same rate, no deductions, no exemptions, no refundable credits etc.

That way everyone has skin in the game and they aren't simply voting to steal what others have earned for redistribution.

A flat tax is regressive.

And you seem to think a flat income tax does not allow for deductions, exemptions, or credits.

Wrong. That's a hoax perpetrated by Ted Cruz.

 

[g5000]

You want them to turn over 20% of their net worth to the government every year. In five years they will all be bankrupt.

You're a commie idiot.

No, it's a 20 percent tax on their INCOME. Not their wealth.

 

[basquebromance]

we have our first "no" vote!

 

[bripat9643]

People who don't earn enough to pay income tax only get refunded their money which was withheld from their paychecks. They don't get "money transferred to them from other people’s taxes".

Some people pay negative income taxes through the EIT. They get money back from the government even though they didn't pay any actual income taxes.

 

[bripat9643]

No, it's a 20 percent tax on their INCOME. Not their wealth.

What they are calling "income" would be over $100 billion for Elon Musk, moron.

 

[jc456]

What they are calling "income" would be over $100 billion for Elon Musk, moron.

income is liquid.

 

[g5000]

Some people pay negative income taxes through the EIT. They get money back from the government even though they didn't pay any actual income taxes.

Some. Not all.

The EITC is actually one of the few tax expenditures I like. It has been proven to increase worker productivity. So those people end up paying back that credit, and then some.

 

[g5000]

What they are calling "income" would be over $100 billion for Elon Musk, moron.

Musk earns $100 billion in income a year?

I don't think so.

 

[rightwinger]

Yes it does, moron.

Representatives and direct Taxes shall be apportioned among the several States which may be included within this Union, according to their respective Numbers, which shall be determined by adding to the whole Number of free Persons, including those bound to Service for a Term of Years, and excluding Indians not taxed, three fifths of all other Persons. ​

​

The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;​

​

No Capitation, or other direct, Tax shall be laid, unless in Proportion to the Census or enumeration herein before directed to be taken.​

​

No Tax or Duty shall be laid on Articles exported from any State.​