This is why we need to tax the wealthy

[boedicca]

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.

Wealth is not income, bub. Taxing wealth in unconstitutional.

"ARTICLE XVI. The Congress shall have the power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration."

 

[Nostra]

Replying to you is tedious. You spew non stop left wing talking points about the wonders of Communism to the point where it's a chore to respond to them all...but I will!

First of all America is a Constitutional Republic...not a democracy!

Once again you make the ludicrous claim that the Soviet Union wasn't a communist country because Socialist is in their name! Please stop with that nonsense. They WERE a communist country! Everyone KNOWS they were a communist country!

Then you blame the short comings of communism on outside forces. How many millions were killed by their own government in the Soviet Union, China, Cuba and Cambodia under communist regimes? The range of that has been estimated to be anywhere from 20 million to 148 million.

The Soviet Union had relative peace in the 1930's, Christian? Gee was that when they were signing a nonaggression pact with Germany and invading Poland? Or was it when they were invading Finland? Or annexing the Baltic States and parts of Romania? Your efforts to paint the Soviets as "victims" is laughable! Would you like me to list ALL of the nations that the Soviets invaded?

Why waste your time?

 

[TruthNotBS]

We didn't pump trillions and trillions into the markets and provide private business with billions in taxpayer dollars (largely debt) because people are in full control of their life trajectory.

They forget that it's them who are seeking bailouts and subsidies to the tune of trillions, not the workers who mostly suck it up and just go to work.

Bailout Tracker

ProPublica is still tracking where every dollar of taxpayer money from the 2008 bailout of the financial system has gone. See for yourself.

projects.propublica.org

Name	Type	State	Total Disbursed	Profit / Net Outstanding
Fannie Mae	Government-Sponsored Enterprise	D.C.	$119,836,000,000	$61,489,000,000
Freddie Mac	Government-Sponsored Enterprise	Va.	$71,648,000,000	$48,033,000,000
AIG Received other federal aid. Click to see details.	Insurance Company	N.Y.	$67,835,000,000	$5,025,967,492
General Motors	Auto Company	Mich.	$50,744,648,329	-$11,308,238,095
Citigroup Received other federal aid. Click to see details.	Bank	N.Y.	$45,000,000,000	$13,448,572,616
Bank of America Received other federal aid. Click to see details.	Bank	N.C.	$45,000,000,000	$4,566,857,694
JPMorgan Chase	Bank	N.Y.	$25,000,000,000	$1,731,202,357
Wells Fargo	Bank	Calif.	$25,000,000,000	$2,281,347,113
GMAC (now Ally Financial)	Financial Services Company	Mich.	$16,290,000,000	$3,057,502,589
Chrysler	Auto Company	Mich.	$10,748,284,222	-$1,212,849,005
Morgan Stanley	Bank	N.Y.	$10,000,000,000	$1,268,055,555
Goldman Sachs	Bank	N.Y.	$10,000,000,000	$1,418,055,555
PNC Financial Services	Bank	Pa.	$7,579,200,000	$741,344,650
U.S. Bancorp	Bank	Minn.	$6,599,000,000	$334,220,416
PHH Mortgage, a subsidiary of Ocwen Financial Corporation	Mortgage Servicer	Fla.	$5,015,832,614	-$5,015,832,614
SunTrust	Bank	Ga.	$4,850,000,000	$527,323,605
Capital One Financial Corp.	Bank	Va.	$3,555,199,000	$251,674,702
Regions Financial Corp.	Bank	Ala.	$3,500,000,000	$638,055,555
Wellington Management Legacy Securities PPIF Master Fund, LP	Investment Fund	Del.	$3,448,461,000	$702,530,334
Fifth Third Bancorp	Bank	Ohio	$3,408,000,000	$593,372,603
Hartford Financial Services	Insurance Company	Conn.	$3,400,000,000	$814,403,447
Wells Fargo Bank, NA	Mortgage Servicer	Iowa	$3,398,928,235	-$3,398,928,235
American Express	Financial Services Company	N.Y.	$3,388,890,000	$414,367,308
AG GECC PPIF Master Fund, L.P.	Investment Fund	Del.	$3,352,197,510	$926,527,713
JPMorgan Chase subsidiaries	Mortgage Servicer	N.J.	$3,243,888,392	-$3,243,888,392
AllianceBernstein Legacy Securities Master Fund, L.P.	Investment Fund	Del.	$3,192,141,738	$562,685,420
BB&T	Bank	N.C.	$3,133,640,000	$159,713,918
Bank of New York Mellon	Bank	N.Y.	$3,000,000,000	$231,416,666
KeyCorp	Bank	Ohio	$2,500,000,000	$367,222,222
CalHFA Mortgage Assistance Corporation	State Housing Orgs	Calif.	$2,360,253,221	-$2,360,253,221
CIT Group	Bank	N.Y.	$2,330,000,000	-$2,286,312,500
Bank of America subsidiaries (incl. Countrywide)	Mortgage Servicer	Calif.	$2,311,102,036	-$2,311,102,036
Comerica Incorporated	Bank	Texas	$2,250,000,000	$322,039,543
State Street	Bank	Mass.	$2,000,000,000	$123,611,111
RLJ Western Asset Public/Private Master Fund, L.P.	Investment Fund	Del.	$1,861,578,258	$471,721,059
Select Portfolio Servicing	Mortgage Servicer	Utah	$1,795,331,996	-$1,795,331,996
Invesco Legacy Securities Master Fund, L.P.	Investment Fund	Del.	$1,742,880,000	$576,938,945
Marshall & Ilsley	Bank	Wis.	$1,715,000,000	$229,772,916
Oaktree PPIP Fund, L.P.	Investment Fund	Del.	$1,666,904,633	$291,426,775
Nationstar Mortgage, LLC dba Mr. Cooper	Mortgage Servicer	Texas	$1,642,024,635	-$1,642,024,635
Blackrock PPIF, L.P.	Investment Fund	Del.	$1,581,184,800	$436,178,172
Northern Trust	Bank	Ill.	$1,576,000,000	$133,623,333
Chrysler Financial Services	Financial Services Company	Mich.	$1,500,000,000	$25,367,458
Marathon Legacy Securities Public-Private Investment Partnership, L.P.	Investment Fund	Del.	$1,423,550,000	$399,600,628
Zions Bancorp	Bank	Utah	$1,400,000,000	$253,361,111
Huntington Bancshares	Bank	Ohio	$1,398,071,000	$196,285,810
Discover Financial Services	Financial Services Company	Ill.	$1,224,558,000	$239,690,844
Florida Housing Finance Corporation	State Housing Orgs	Fla.	$1,136,616,680	-$1,136,616,680
Synovus Financial Corp.	Bank	Ga.	$967,870,000	$223,149,526
Lincoln National Corporation	Insurance Company	Pa.	$950,000,000	$259,851,873
Popular, Inc.	Bank	Puerto Rico	$935,000,000	$285,279,999
First Horizon National	Bank	Tenn.	$866,540,000	$170,927,405
CitiMortgage, Inc.	Mortgage Servicer	Mo.	$781,746,723	-$781,746,723
Ohio Homeowner Assistance LLC	State Housing Orgs	Ohio	$762,791,540	-$762,791,540
Michigan Homeowner Assistance Nonprofit Housing Corporation	State Housing Orgs	Mich.	$761,622,301	-$761,622,301
Illinois Housing Development Authority	State Housing Orgs	Ill.	$715,615,095	-$715,615,095
North Carolina Housing Finance Agency	State Housing Orgs	N.C.	$706,938,882	-$706,938,882
M&T Bank Corporation	Bank	N.Y.	$600,000,000	$135,435,911
Associated Banc-Corp	Bank	Wis.	$525,000,000	$71,539,173
CIT Bank, N.A.	Mortgage Servicer	Calif.	$442,522,334	-$442,522,334
Specialized Loan Servicing LLC	Mortgage Servicer	Colo.	$428,874,217	-$428,874,217
First BanCorp	Bank	Puerto Rico	$424,174,000	-$187,090,813
New Jersey Housing and Mortgage Finance Agency	State Housing Orgs	N.J.	$415,512,054	-$415,512,054
Webster Financial	Bank	Conn.	$400,000,000	$57,083,286
City National	Bank	Calif.	$400,000,000	$41,916,666
Fulton Financial Corp	Bank	Pa.	$376,500,000	$40,135,625
Community Loan Servicing, LLC	Mortgage Servicer	Fla.	$375,517,123	-$375,517,123
GHFA Affordable Housing, Inc.	State Housing Orgs	Ga.	$370,574,260	-$370,574,260
SBA Security Purchases	SBA Security Purchases	D.C.	$368,145,452	$8,602,850
TCF Financial	Bank	Minn.	$361,172,000	$17,375,699
UST/TCW Senior Mortgage Securities Fund, L.P.	Investment Fund	Del.	$356,250,000	$20,986,495
South Financial Group	Bank	S.C.	$347,000,000	-$200,034,670
Wilmington Trust Corporation	Bank	Del.	$330,000,000	$39,920,833
SC Housing Corp	State Housing Orgs	S.C.	$317,461,821	-$317,461,821
Oregon Affordable Housing Assistance Corporation	State Housing Orgs	Ore.	$314,752,280	-$314,752,280
GMAC Mortgage, LLC	Mortgage Servicer	Pa.	$309,559,668	-$309,559,668
East West Bancorp, Inc.	Bank	Calif.	$306,546,000	$46,176,420
Sterling Financial Corp	Bank	Wash.	$303,000,000	-$181,242,791
Tennessee Housing Development Agency	State Housing Orgs	Tenn.	$302,336,993	-$302,336,993
Whitney Holding Corp	Bank	La.	$300,000,000	$43,733,333
Susquehanna Bancshares	Bank	Pa.	$300,000,000	$28,991,401
Valley National	Bank	N.J.	$300,000,000	$18,400,781
Citizens Republic Bancorp	Bank	Mich.	$300,000,000	$81,395,557
Ditech Financial LLC	Mortgage Servicer	Minn.	$299,522,567	-$299,522,567
UCBH Holdings	Bank	Calif.	$298,737,000	-$291,226,980
Arizona (Home) Foreclosure Prevention Funding Corporation	State Housing Orgs	Ariz.	$296,146,720	-$296,146,720
First Banks, Inc.	Bank	Mo.	$295,400,000	-$175,186,740
GM Supplier Receivables, LLC	Auto Company	D.C.	$290,000,000	$65,403,673
Indiana Housing and Community Development Authority	State Housing Orgs	Ind.	$283,994,336	-$283,994,336
Homeward Residential, Inc.	Mortgage Servicer	Texas	$280,486,273	-$280,486,273
New York Private Bank & Trust Corp	Bank	N.Y.	$267,274,000	$79,520,006
Flagstar Bancorp	Bank	Mich.	$266,657,000	$11,204,056
Cathay General Bancorp	Bank	Calif.	$258,000,000	$71,874,444
Wintrust Financial Corp	Bank	Ill.	$250,000,000	$50,704,730
PrivateBancorp	Bank	Ill.	$243,815,000	$44,400,576
SVB Financial Group	Bank	Calif.	$235,000,000	$18,929,027
MidFirst Bank	Mortgage Servicer	Okla.	$232,760,903	-$232,760,903
Carrington Mortgage Services, LLC	Mortgage Servicer	Calif.	$230,633,032	-$230,633,032
International Bancshares Corporation	Bank	Texas	$216,000,000	$45,538,650
Trustmark Corp	Bank	Miss.	$215,000,000	$21,287,500
Umpqua	Bank	Ore.	$214,181,000	$17,975,554
U.S. Bank National Association	Mortgage Servicer	Ky.	$200,343,166	-$200,343,166
Washington Federal Inc.	Bank	Wash.	$200,000,000	$20,749,985
Nevada Affordable Housing Assistance Corporation	State Housing Orgs	Nev.	$196,247,650	-$196,247,650
MB Financial	Bank

The above isn't even 10% of the full list.

BrokerLoser is a loser who wants to live off of other people's hard work, receiving government bailouts and sitting back at the country club while his workers toil. His hands are well-manicured, not knowing a day of labor in his pathetic life.

 

[Nostra]

I'm discussing why the rich should be on the hook for a larger portion of the $34 trillion debt.

Tell us what their fair share is.

 

[Nostra]

As is typical, you fall back on name calling as opposed to the ideas being posted.

Not interested in the insane ramblings if a communist Simp.

HTH.

 

[pknopp]

Tell us what their fair share is.

I've answered this question many times. It's nothing more than an empty diversion. We have to pay off the debt and to do that we need to make cuts and raise income and that income should come from those who have benefitted the most.

Others can figure out what exactly those numbers should be. That's what they get paid for.

 

[pknopp]

Not interested in the insane ramblings if a communist Simp.

HTH.

Then ignore it. You feel this incredible need to call people names though, don't you?

 

[Nostra]

I've answered this question many times. It's nothing more than an empty diversion. We have to pay off the debt and to do that we need to make cuts and raise income and that income should come from those who have benefitted the most.

Others can figure out what exactly those numbers should be. That's what they get paid for.

So all you have is empty leftist talking points.

Got it.

 

[Nostra]

Then ignore it. You feel this incredible need to call people names though, don't you?

I don’t need your posting advice, Vermin.

 

[pknopp]

So all you have is empty leftist talking points.

Got it.

There we go again, you can't actually address what I say. Is it your argument we can ignore the debt and let those in the future address it, ramifications of that be damned?

Or is it only "leftists" that want to address the debt?

 

[TruthNotBS]

Then ignore it. You feel this incredible need to call people names though, don't you?

He's on my "ignore" list where he belongs. All he does is insult people, that's it. He has no arguments.

 

[BrokeLoser]

You're a capitalist leech who wants workers working and slaving for you, hence when workers assert their interests and rights you maliciously slander them as wanting to live off of the government that they created to protect their rights against people like you. You're butt hurt that you can't exploit well-informed workers who protect their own interests, just like you do as a capitalist. Capitalists have no reservations about protecting their interests vs workers, but when workers turn around and do the same, they start bitching like babies.

I employ many people across multiple companies here in South Mexifornia… All of my employees are well taken care of, I do not need a government agency or union to tell me how to treat an employee. If I mistreat them, they quit and go work for a competitor…such is the nature of capitalism.
Further, isn’t it you commie-lite socialist beggars who tell us we need illegal thirdworlders who are willing to work shit jobs for shit money…those who will not push for conditions so we can keep our 20% discount on lettuce?
pknopp

 

[BrokeLoser]

We didn't pump trillions and trillions into the markets and provide private business with billions in taxpayer dollars (largely debt) because people are in full control of their life trajectory.

The government makes investments in the general welfare of the people just as they are supposed to do. Investing in our financial institutions was and is investing in the general welfare. How does something so simple completely escape you socialist beggars?

 

[pknopp]

The government makes investments in the general welfare of the people just as they are supposed to do. Investing in our financial institutions was and is investing in the general welfare. How does something so simple completely escape you socialist beggars?

Quoted simply for the irony.

 

[BrokeLoser]

Quoted simply for the irony.

There is no irony in what I posted. You backwards twilight zoners are just so fucked up and twisted in your heads….Obviously you beggars were never taught what general welfare actually is.

What did our founders really mean when they said “general welfare”?

If you voted for Trump there’s a good chance you’re a lot like me with regard to why....I voted for him on two policies almost exclusively...First and foremost on how he would deal with illegal Mexicans and the border and second on how he would yank lowlifes off the Democrat induced welfare...

www.usmessageboard.com

 

[Nostra]

There we go again, you can't actually address what I say. Is it your argument we can ignore the debt and let those in the future address it, ramifications of that be damned?

Or is it only "leftists" that want to address the debt?

Nope. I’m in record since I showed up here saying we need a balanced budget amendment. And that budget needs to include enough to pay down the debt every year.

You still have nothing but empty Dimwinger talking points about the rich paying their fair share without being able to define it.

Sorry that gets you butthurt, Simp.

 

[pknopp]

Nope. I’m in record since I showed up here saying we need a balanced budget amendment. And that budget needs to include enough to pay down the debt every year.

You still have nothing but empty Dimwinger talking points about the rich paying their fair share without being able to define it.

Sorry that gets you butthurt, Simp.

Empty statements on future debt. What about current debt? Again, leave it to future generations?

 

[Nostra]

Empty statements on future debt. What about current debt? Again, leave it to future generations?

Holy shit! Can you read English? I clearly said any budget going forward should be balanced, AND INCLUDE PAYING OFF DEBT EVERY YEAR.

Grow a brain, moron.

 

[pknopp]

Holy shit! Can you read English? I clearly said any budget going forward should be balanced, AND INCLUDE PAYING OFF DEBT EVERY YEAR.

Grow a brain, moron.

And we are going to pay this debt off how?

A balance budget doesn't pay off debt.

 

[Nostra]

And we are going to pay this debt off how?

A balance budget doesn't pay off debt.

Read my post as many times as it takes for your pea brain to comprehend what I said. HINT: Concentrate on the all caps, Moron.