Taxing The Rich

[gipper]

Yeah they should pay income tax even though they have little to no income. This while the ultra wealthy pay little income tax, because their wealth doesn’t come from income.

Can’t fix stupid.

The top 20% pay over 80% of all collected income taxes for the rest of us. Nearly half of our population pay no income tax at all. It's about time everybody chipped in something.

And they should pay more.

 

[danielpalos]

Yeah they should pay income tax even though they have little to no income. This while the ultra wealthy pay little income tax, because their wealth doesn’t come from income.

Can’t fix stupid.

The top 20% pay over 80% of all collected income taxes for the rest of us. Nearly half of our population pay no income tax at all. It's about time everybody chipped in something.

Raise the minimum wage until even the Poor pay their fair capital share!

 

[colfax_m]

As I said: Successful businesses don't have net losses to carry over that cover their profits for a decade.

Write-offs are not necessarily losses. If you buy three million dollar machines, it's an investment that you can write-off.

If I buy a new snowblower, lawnmower, reroof a house, I have to write that off for 30 years. I just purchased a new furnace to replace a drastically old one for one of my units. $3,200. I cannot deduct the entire thing this year. What I have to do is write off the amount for August through December, and every year afterwards I get to write off a little bit of that furnace.

Yeah, about that...

Adam Davidson: Trump Golf Course Is ‘Money Disappearing Business’ | Law & Crime

While most experts agree that the reporting shows a great deal of suspicious activity, it appears more detailed financial data is required before drawing any reliable conclusions about the president’s extremely complex financial status. But drawing from the pieces of the puzzle currently...

lawandcrime.com

The financials do not show losses due to investment. They show losses due to poor revenue streams.

 

[Ray From Cleveland]

It’s amazing the blindness of some Americans. In my life time I’ve witnessed an enormous concentration of wealth to the top. We all know income inequality is a major problem, and it continues to increasingly to get worse.

We all know the ultra wealthy buy all sorts of benefits from a corrupt government that is clearly for sale. This creates all sorts of dysfunctional and unjust consequences. Many on the right refuse to believe their own eyes.

If you don't like wealth going to the top, quit giving them your money. There is a solution for everything.

 

[Ray From Cleveland]

The financials do not show losses due to investment. They show losses due to poor revenue streams.

What are you talking about? I have to do it every single year at tax time. Any repairs or improvements I make here, I get to deduct that off my taxes.

 

[Ray From Cleveland]

And they should pay more.

Why is that, because they made more? Even if we all had to pay 10% in federal income tax, the rich would still be paying more than you or I.

 

[Ray From Cleveland]

Exactly right. The "rich" in the eyes of the Democrats are the working wealthy, not the multi-billionaire elitists. The reason Gates and Bezos are Democrats and push a globalist agenda is because they will be the ones getting all the spoils in such a scheme. They want to punish the working successful folks to a point where they are right in line with the rest of the peasants. They then have us exactly where they want us all...dependent upon them.

There is a theory out there that Democrats absolutely despise, it's called Cause and Effect.

What they don't understand is that when you tax the rich man, you actually have to pay for those taxes. If the rich guy owns a business, he may freeze pay raises, have his employees pay a larger share of their healthcare insurance bill, increases the costs of the services or products he provides, invest in automation to replace humans to recoup that loss.

 

[danielpalos]

Exactly right. The "rich" in the eyes of the Democrats are the working wealthy, not the multi-billionaire elitists. The reason Gates and Bezos are Democrats and push a globalist agenda is because they will be the ones getting all the spoils in such a scheme. They want to punish the working successful folks to a point where they are right in line with the rest of the peasants. They then have us exactly where they want us all...dependent upon them.

There is a theory out there that Democrats absolutely despise, it's called Cause and Effect.

What they don't understand is that when you tax the rich man, you actually have to pay for those taxes. If the rich guy owns a business, he may freeze pay raises, have his employees pay a larger share of their healthcare insurance bill, increases the costs of the services or products he provides, invest in automation to replace humans to recoup that loss.

Raise the minimum wage so more people benefit.

 

[Mr Natural]

Raise the minimum wage so more people benefit.

What, and pay an extra quarter for a Big Mac?

No way!

 

[Ray From Cleveland]

Republican plans to tax the poor instead are even more futile and ignorant. Who's got the money?

However, Republicans just love Biden's plans to cut S.S. and Medicare..

They all suck. Say it!

When was the last time the Republicans taxied the poor?

 

[Ray From Cleveland]

The Democrat plans to tax the rich are futile and ignorant. They sound good to the uneducated, but they don't work very well. When you raise tax rates or reduce deductions on the rich, their typical response is to divert more of their money into tax shelters where they pay less tax. They can afford tax lawyers and CPAs who find ways to reduce their taxes dramatically and it's all legal.

Donald Trump knows how. For several years at a time, he paid no income tax. I don't know all the shelters he used but I can guess. One would be accelerated depreciation on the buildings and furniture he owns. Another would be Net Loss Carryover. When you have a loss in one year, the IRS Code allows you to deduct that loss on the returns for following years. If the NLC is large enough, it can give you zero tax liability for 5 or 6 years. Even people of moderate income can use tax shelters. I have 2 of them.

If you don't try and target the rich, they will pay a fair share of taxes just like everybody else. If you target them with high tax rates, they run for tax shelters.

"If you want more of something, subsidize it. If you want less of something, tax it."
Ronald Reagan

How does taxing the rich any more help one person in this forum? How does it help one person anywhere? All it does is give money to government for them to waste. The problem is not revenue income, it's spending. Look at this so-called stimulus bill for instance. They've been bickering about it for months now. Did anybody die because of it? Would it really save the lives of some Americans? No. 2 trillion dollars we didn't spend yet, and everybody is surviving.

 

[kaz]

LoL!

You're all over that one, huh Marc? The rich avoid paying taxes? Of course they don't! You know that!

Dude, think ...

 

[progressive hunter]

After all they do for us little people, they shouldn't have to pay any taxes at all.

I never got a job from a poor person,,,

 

[Ray From Cleveland]

After all they do for us little people, they shouldn't have to pay any taxes at all.

I never got a job from a poor person,,,

Poor people also don't contribute to our thousands of charities and the many colleges and hospitals in this country.

Take all the poor people from this country, put them on an island somewhere, nobody would know the difference. If fact, things would improve. Take all the rich people and put them on an island, the country collapses.

 

[Mr Natural]

After all they do for us little people, they shouldn't have to pay any taxes at all.

I never got a job from a poor person,,,

And how would the rich get rich without labor?

 

[progressive hunter]

After all they do for us little people, they shouldn't have to pay any taxes at all.

I never got a job from a poor person,,,

And how would the rich get rich without labor?

labor is always available...

 

[Mr Natural]

labor is always available...

And easily fucked over.

 

[progressive hunter]

labor is always available...

And easily fucked over.

only if they are whiny little bitchs,,,

to bad they are to ignorant and lack the motivational skills to go out and make it on their own,,,

fact is we will always have rich and poor people,, what the dems want is fewer rich and more poor people,,,

 

[gipper]

After all they do for us little people, they shouldn't have to pay any taxes at all.

The righties don’t know you’re being facetious. You need to spell it out for them.

 

[Brain357]

Not taxing them isn’t working either. We can’t borrow forever.