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And we would still be spending more on defense than 'Gina, or any other country in the world for that matter!!!
MAGA
its republicans who are taxing the poor, not democrats.That's actually false.
its republicans who are taxing the poor, not democrats.
I agree with Biden we need to tax the living shit out of those rich assholes !Biden has reached new heights of idiocy. Does he actually believe any Republican is going to vote for that?
the worlds richest men, including Elon Musk and Jeff Bezos, have much of their wealth in the form of stock.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.The rising value of stock holdings -- known as unrealized gains -- is also not taxed as income. Capital gains taxes are only imposed when the stock is sold.s a result, some 400 billionaire families paid an average federal tax rate of just over 8 percent of their income between 2010 and 2018, according to an estimate from the White House Office of Management and Budget and Council of Economic Advisers.However, critics of a 'wealth tax' argue that treating unrealized gains as income is unfair and could lead to unintended consequences.If billionaires are forced to pay taxes on the rising values of their stocks, even before they sell them at a profit, they could be forced to sell off control of companies that they founded in order to pay their tax bills, critics say.Under Biden's new plan, billionaires already paying more than 20 percent in federal taxes would not owe additional taxes, according to the Post.The taxes paid toward the minimum tax would count toward whatever billionaires owe whenever they sell their stock and pay ordinary capital gains taxes.'The Billionaire Minimum Income Tax will ensure that the very wealthiest Americans pay a tax rate of at least 20 percent on their full income,''This minimum tax would make sure that the wealthiest Americans no longer pay a tax rate lower than teachers and firefighters.'
Taxing the hell out of the rich has been tried before. History can and does repeat itself.
they would be taxed even more in the other country.
they would be taxed even more in the other country.
www.bloomberg.com
I agree with Biden we need to tax the living shit out of those rich assholes !
Rich people have left countries that decided to tax the hell out of them before and will again. It is happening right now in some states in our nation.Haha, definitely the most embarrassing and dumb rightwing talking point. Hard to believe so many not rich people have been turned into volunteer footsoldiers of the rich. Just mention gays or brown people or abortion, and they hop right on board apparently.
nypost.com
mavenroundtable.io
www.imidaily.com
france tried taxing earnings over million euros at 75%.Taxing the hell out of the rich has been tried before. History can and does repeat itself.
France Tried Soaking the Rich. It Didn’t Go Well.
A wealth tax and sky-high rates on top incomes didn’t yield much revenue.
you could just click on the link and read it, or should a regirgitate it here?How could Republicans be taxing the poor? They're not in power right now.
you could just click on the link and read it, or should a regirgitate it here?
I agree with Biden we need to tax the living shit out of those rich assholes !
Then by all means explain why it would be be bad for the US in detail. No pontifications no appeals to authority, make your case on it's own merits.As well as nearly every economist on the planet.
No worries. That terrible idea will never, ever become reality.
Just like when they flee high tax states like CA and NY they take their cash with them.What happens if the rich just pack up and go to another country?
So would Russia.Oh would China love for us to do that.
47% of the country has a net negative or net zero federal income tax liability.You said half the country. That's incorrect.
www.ntu.org
There's nothing more "fair" than everyone paying an equal share.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.
It's the US, we all have a right to rise and fall on our own merits and achievements.Haha, definitely the most embarrassing and dumb rightwing talking point. Hard to believe so many not rich people have been turned into volunteer footsoldiers of the rich. Just mention gays or brown people or abortion, and they hop right on board apparently.
Well done.Wow. You really should understand things before you vote.
A fami,y with an income of $50,000 does not have a tax liability of 22%, or $11,000:
First, filing jointly puts them in the 12% bracket, not 22%. But even if they WERE in the 22% bracket, that doesn’t mean they have a tax liability of $11,000. The 22% is on the last dollar earned, NOT their entire income.
So let’s backtrack to the 12%. Tney get a $25,000 deduction for the two of them, leaving just $25,000 taxable income. That means they owe $3,000 in tax - NOT $11,000.
Now consider that they get $11,000 tax “credit” (hah) for their three kids. They use that to offset the $3,000 they owe - and walk away with $8,000 from….yes….other people’s taxes! That is welfare.
I‘m starting to see why libs vote for such liberal policies. They don’t have a clue what’s going on.
That really is pretty accurate, that's what refundable tax credits are.You said half the country gets other taxpayers' money. That is incorrect.
So I take it you are in disagreement with Thomas Jefferson on who should and should not pay taxes.
I think 10% is much closer to viable but I like your thinking.I see the problem. Libs want the government to be Uncle Sugar, providing all sorts of free benefits, yet they only want a select few - the people richer than they are, naturally - to fund it.
EVERY SINGLE PERSON in this country should pay a minimum 1% in federal income taxes.
