This is why we need to tax the wealthy

[beagle9]

I'm not worried about a million. Add three 0's. For example - let's say Elon had chosen not to buy Twitter, but instead just sat on all those billions - I would tax that, to make it risky and undesirable to sit on lots of money for a long time.

Interesting, because the Bible speaks about the wealthy storing their wealth up in barns...

James chapter 5 verses 1-9

Chapter 5
1. Go to now, ye rich men, weep and howl for your miseries that shall come upon you.

2 Your riches are corrupted, and your garments are motheaten.

3 Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.

4 Behold, the hire of the labourers who have reaped down your fields, which is of you kept back by fraud, crieth: and the cries of them which have reaped are entered into the ears of the Lord of sabaoth.

5 Ye have lived in pleasure on the earth, and been wanton; ye have nourished your hearts, as in a day of slaughter.

6 Ye have condemned and killed the just; and he doth not resist you.

7 Be patient therefore, brethren, unto the coming of the Lord. Behold, the husbandman waiteth for the precious fruit of the earth, and hath long patience for it, until he receive the early and latter rain.

8 Be ye also patient; stablish your hearts: for the coming of the Lord draweth nigh.

9 Grudge not one against another, brethren, lest ye be condemned: behold, the judge standeth before the door.

 

[beagle9]

Hey dumb fuck revenue is how we pay for ANY government spending. This has contributed to the national debt.

Yes it is, but when you get a rogue government in control, and they begin scheming and plotting to take more, and to do so for nefarious reasoning in an anti-transparent way, then the Americans must band together to say no, but hell no.

 

[Markle]

Yes but pay payroll taxes, local, and state taxes. State taxes alone costs 11% of their income.

The topic is Federal Income Taxes.

Should not EVERYONE pay to support our country?

I live in a paradise called Florida. I've never paid close to 11% of my income in state and local taxes.

It's a different story if you add in Social Security and Medicare. Then, I paid the Federal Government over 15% of much of my income.

 

[beagle9]

The wealthy pay the huge majority of taxes while about 50% pay zero.

Yep, just go ask Trump how much taxes he's paid over the year's, and how MSNBC and other's tried to prove otherwise until they got their ace's handed to them. Anyone hear anymore about Trump's tax returns ? Nope because the left made a fool of itself on the matter... Let's see, what are they up to now in their latest "get Trump adventure" ? Pure un-American scum is what they are.

 

[beagle9]

Instead of a failed coup attempt, a successful one is needed for working class Americans!

Hopefully the status quo of huge and growing income inequality will continue for the foreseeable future. The chances are great now that the working class are totally confused about which political party is the right one to support.

Well one things for sure, most Americans aren't for the Democrat's anymore, not unless they are mentally disturbed. As far as Republicans go, well they can be dealt with by the people, otherwise they are more likely to respond to the citizens than the Democrat's have been.

 

[Markle]

Yep, just go ask Trump how much taxes he's paid over the year's, and how MSNBC and other's tried to prove otherwise until they got their ace's handed to them. Anyone hear anymore about Trump's tax returns ? Nope because the left made a fool of itself on the matter... Let's see, what are they up to now in their latest "get Trump adventure" ? Pure un-American scum is what they are.

Sure.

From one of your idols.

Donald Trump's 2005 Tax Return Revealed on Rachel Maddow

The return showed Trump earned $150 million that year

time.com

 

[Nostra]

Don’t confuse the morons with facts.

They think those increased revenues caused higher deficits.

 

[Nostra]

Yes but pay payroll taxes, local, and state taxes. State taxes alone costs 11% of their income.

Depends on the state, Simp.

And why shouldn’t they have to contribute?

 

[leftwinger]

Sales, cable, phone, Gas, SS, Medicare, Income, local, utility, property, gift, capital, luxury, medicare, medical, tires disposal, cable,


on and on. Everything is Taxed. So many Taxes you can’t find a listing of it. At least I can’t? Is google hiding it? Or too complicated because States vary?

Either way I am betting close to 75% of you base pay is already confiscated in CA (including Federal) by the time you sit down to eat each day,

 

[beagle9]

Sure.

From one of your idols.

Donald Trump's 2005 Tax Return Revealed on Rachel Maddow

The return showed Trump earned $150 million that year

time.com

What's the meaning of "one of my idols" ??

 

[Ghost of a Rider]

If a big profitable corporation keep wages low purely for their own benefit, thats a problem.

A problem for who? No one is being forced to accept whatever pay they receive. Everyone has the choice to look for greener pastures.

Given thst corporate profits are already at an all time high, they can easily pay their workers more.

Maybe, maybe not. But that's for them and their workers to decide, not the government.

They don’t purely out of self interest. The result is that poverty only gets worse because wages are behind on the rate of inflation. The middle class also shrinks. Doesn’t any of that bother you?

Hey, I'm with you on the matter of having a robust middle class; it's part of the reason our nation is more prosperous than most. But again, I'm not on board with punishing the wealthy for being wealthy. I just don't think it's right in principle to require someone who makes more to pay more for succeeding at something that every one of us has the equal opportunity to succeed or fail at.

 

[LeroyDumonde]

That's actually true....it's been so long since I heard that reasoning that I almost forgot about it.

Yup. Although a simplification, as long as the money supply grows slower than GDP growth there won't be any inflation.

 

[GMCGeneral]

So? Tax that too!

Nope. 100% theirs.

 

[Nostra]

The Government could seize EVERY PENNY from EVERY Billionaire in the US and is would barely cover two years of Biden DEFICITS, much less any of the debt.

a wealth tax is the dumbest idea ever conceived, and is aimed at the dumbest of the dumb……which the OP is.

Forbes Billionaires 2024

Forbes presents the 2024 World's Billionaires List. View the richest people in the world including the youngest billionaires, female billionaires and newest billionaires.

www.forbes.com

 

[Billy000]

Yes it is, but when you get a rogue government in control, and they begin scheming and plotting to take more, and to do so for nefarious reasoning in an anti-transparent way, then the Americans must band together to say no, but hell no.

lol what is the scheme? I really don’t even think you can explain it with any specifics

 

[Mashmont]

Billionaires Are Hoarding Trillions in Untaxed Wealth. They Want the Supreme Court to Keep It That Way

A new report from Americans for Tax Fairness found that America’s richest families accumulated $8.5 trillion in untaxed capital gains in 2022

www.yahoo.com

TRILLIONS in untaxed wealth. Good luck explaining this to republicans I guess. You have to explain the difference between the official tax rate and the EFFECTIVE tax rate of top earners.

Do you realize the Pandora's box that would open if unrealized gains get taxed? It would mean leftwingers could decide to tax anything you have annually if they wanted to. No, Billy000 has never thought of that.

 

[Billy000]

A problem for who? No one is being forced to accept whatever pay they receive. Everyone has the choice to look for greener pastures.


Maybe, maybe not. But that's for them and their workers to decide, not the government.

Hey, I'm with you on the matter of having a robust middle class; it's part of the reason our nation is more prosperous than most. But again, I'm not on board with punishing the wealthy for being wealthy. I just don't think it's right in principle to require someone who makes more to pay more for succeeding at something that every one of us has the equal opportunity to succeed or fail at.

If there is no government intervention, nothing will ever change. The “just find a better job” idea is not a viable idea on a macro scale. If every poor person did that, most of them would be guaranteed to fail because higher paying jobs are in tough competition and shorter supply. And let’s say pretend every poor person actually did find a better job. Who would be left behind to do those service jobs vital to the economy?

Having the wealthy pay the most in taxes isn’t about what’s fair - it’s about what is ridiculous. Their income is vital to pay for government spending of any kind.

 

[Jarlaxle]

"Unrealized capital gains", do you have a fricken clue as to what that means?

Of course he doesn't.

Stupid solution from a stupid poster. Cut out all government expenditures and the economy collapses. No police, no military, no fire departments, no schools, no courts, no private property protection, and no health care for anyone.

Good luck with that.

Nobody but you has suggested that.

when did he say anything about cut out ALL Govt expenditures?

Is reading hard for you?

No, but honesty is.

 

[scruffy]

A problem for who? No one is being forced to accept whatever pay they receive. Everyone has the choice to look for greener pastures.

You might have a point if that were true. But it's not. You can't look for greener pastures if you can't afford the bus ride. Can't get a job if you can't take a shower.

Maybe, maybe not. But that's for them and their workers to decide, not the government.

The government has a legitimate role in regulating business. It says so right in the Constitution

Hey, I'm with you on the matter of having a robust middle class; it's part of the reason our nation is more prosperous than most. But again, I'm not on board with punishing the wealthy for being wealthy. I just don't think it's right in principle to require someone who makes more to pay more for succeeding at something that every one of us has the equal opportunity to succeed or fail at.

There is not equal opportunity, that's a myth. Over the years, American business has been engaged in every unequal and thieving trick in the book, including child labor, overt racial and sexual discrimination, and illegitimate payments like credits at the company store.

 

[jotathought]

Billionaires Are Hoarding Trillions in Untaxed Wealth. They Want the Supreme Court to Keep It That Way

A new report from Americans for Tax Fairness found that America’s richest families accumulated $8.5 trillion in untaxed capital gains in 2022

www.yahoo.com

TRILLIONS in untaxed wealth. Good luck explaining this to republicans I guess. You have to explain the difference between the official tax rate and the EFFECTIVE tax rate of top earners.

Do you understand what "unrealized gains" means?