Why American Workers Pay Twice As Much In Taxes As Wealthy Investors

[Brain357]

It's not about a concern for wealthy people. It's expecting those of you that constantly argue for equality to stop promoting such an unequal system of taxation.

Why shouldn't people not considered wealthy pay for things like improving education and conducting medical research. Aren't they using education and benefiting from medical research the same as everyone else?

They we're agreed -- less taxation for lower and middle classes… while raising high income tax rates back to Clinton/Reagan era levels AND eliminating any special tax avoidance that is only available to the rich.

No Tax Havens.

No Buying and Selling through shell companies.

Equity swaps taxed at full rate.

Eliminate ways to avoid Capital Gains tax by borrowing with shares as collateral.

No exceptions to death tax. No GRAT- grantor retained annuity trusts.

No shell trust funds.

…there are many more…

why do we need capital gains tax exactly?

We are deeply in debt?

so why not stop spending? why do you want to spend more if you ain't got it?

I'm not spending, republicans are however.

 

[jc456]

Let’s say you and I are neighbors. You’re an emergency room doctor, and I don’t work, thanks to a pile of money my grandparents left me.

You spend your days and nights stitching up gunshot wounds and helping children survive asthma attacks. I’ve gotten really good at World of Warcraft, winning Ebay auctions, and frying shishito peppers to just the right crispiness.

Let’s also say we both report $300,000 in income to the Internal Revenue Service this year. Who pays more in taxes?

You do, by a lot. You owe the IRS about $38,500 more, assuming each of us pays the maximum with no special deductions. I also have more flexibility to lower my burden with tax planning strategies and other tricks, and I get to skip about $24,000 in payroll taxes that you and your employer must fork over each year.

Why American Workers Pay Twice as Much in Taxes as Wealthy Investors

Great thread!

Outstanding!!

But many of the folks here at USMB are pretty brainwashed to believe that taxes are just too high and taxing the rich is Marxist redistribution of wealth, blah, blah, blah, noise...

I've tried to explain how the system was rigged starting back in the 80's so that wealth accumulated at the top level over time. They don't want to know.

Now there are trillions of dollars hiding offshore, individual and corporate -- money that was made in American markets off the American consumer driven economy. And those trillions are out of reach unless the U.S. is prepared to enact retroactive clawback laws… Keeping in mind the hell storm of lobbyists for the rich that would shut any attempt down…

But keep up the good work. Maybe we can save one or two of these people, wake them up with a red pill of truth…

When half the country pays nothing in income taxes, they are too high on those of us that pay them. If the system is rigged, it's rigged in favor of those that don't contribute to society and punishes those that do by forcing them to pay more to offset the freeloaders.

We would sure be better off with more, better paying jobs. Then more would pay taxes. Where should we get those?

By dropping regulations, which is being done, and we see the increase in better jobs already. The obummer regulations removed jobs and put people on welfare. Trump is correcting that. GDP for August was 3.0% ouch, obummer never got better than 1.8%

Which regulations specifically?

What?
New Report Reveals the Number of Obama Regulations Trump Has Killed

"The Trump administration has stopped over 800 regulations proposed under former president Barack Obama, according to a new White House report.

Reuters reported Thursday:

The White House said Thursday it had withdrawn or removed from active consideration more than 800 proposed regulations that were never finalized during the Obama administration as it works to shrink the federal government's regulatory footprint."

 

[Conservative65]

It's not about a concern for wealthy people. It's expecting those of you that constantly argue for equality to stop promoting such an unequal system of taxation.

Why shouldn't people not considered wealthy pay for things like improving education and conducting medical research. Aren't they using education and benefiting from medical research the same as everyone else?

They we're agreed -- less taxation for lower and middle classes… while raising high income tax rates back to Clinton/Reagan era levels AND eliminating any special tax avoidance that is only available to the rich.

No Tax Havens.

No Buying and Selling through shell companies.

Equity swaps taxed at full rate.

Eliminate ways to avoid Capital Gains tax by borrowing with shares as collateral.

No exceptions to death tax. No GRAT- grantor retained annuity trusts.

No shell trust funds.

…there are many more…

why do we need capital gains tax exactly?

We are deeply in debt?

There are others ways to help that. Either stop spending more than we know we have and/or have the half that pay zero income taxes do their part.

 

[imawhosure]

All income should be taxed at the same rate regardless how it was earned.

Investment is a risk, because you can also lose. But i believe Investment is encouraged by giving a tax break.
When people invest it also creates capital for building, which creates jobs. It's also a free country and anyone who works for a living can participate in this thing called "investing" and they can also benefit from those tax breaks.

Most people who work for a living don't make enough to invest in a way that matters.

The economists Thomas Piketty and Emmanuel Saez wrote that decreased progressiveness in US tax policy in the post World War II era has increased income inequality by enabling the wealthy greater access to capital.

According to economist Robert H. Frank, tax cuts for the wealthy are largely spent on positional goods such as larger houses and more expensive cars. Frank argues that these funds could instead pay for things like improving public education and conducting medical research, and suggests progressive taxation as an instrument for attacking positional externalities.

What I never understand is why people who are no where near high income care so much about wealthy people. The conservatives harken back for good ol' days of the prosperous 1950s, tremendous growth with the top tax rates at…. 87%…!!!! (no that's not what you'd pay. that's people who win the lottery or CEOs or trust fund kids….)

It's not about a concern for wealthy people. It's expecting those of you that constantly argue for equality to stop promoting such an unequal system of taxation.

Why shouldn't people not considered wealthy pay for things like improving education and conducting medical research. Aren't they using education and benefiting from medical research the same as everyone else?

The wealthy seem to do fine with our tax system.

don't see them complaining. it's all of those paying nothing bitching the 1%'s not paying their fair share. yet fair share can't be explained.

It's not about a concern for wealthy people. It's expecting those of you that constantly argue for equality to stop promoting such an unequal system of taxation.

Why shouldn't people not considered wealthy pay for things like improving education and conducting medical research. Aren't they using education and benefiting from medical research the same as everyone else?

They we're agreed -- less taxation for lower and middle classes… while raising high income tax rates back to Clinton/Reagan era levels AND eliminating any special tax avoidance that is only available to the rich.

No Tax Havens.

No Buying and Selling through shell companies.

Equity swaps taxed at full rate.

Eliminate ways to avoid Capital Gains tax by borrowing with shares as collateral.

No exceptions to death tax. No GRAT- grantor retained annuity trusts.

No shell trust funds.

…there are many more…

Hazy is a Marxist at worst, Socialist at best. He/she has no idea what makes an economy work, nor does he care because he doesn't want to work, I am thinking.

He/she is soooooooo worried about other peoples money, because he wants a cut of it. He/she is all for legalized theft!

These are the kind of people who DIVIDE us! They actually believe that somehow, because you got yours means they can't get theirs. They have a Socialist mentality, and yet never send any EXTRA money in on their taxes, while demanding YOUR taxes go up. These people are pathetic individuals who whine, moan, groan, and bitch about rich people; yet go buy a new I-phone or computer from them to post their idiocy on this site, lol.

They are Anti-American, and a bunch of history re-writers. What has made America great? Why everyone holding their hands out for a freebie, just ask Hazy, he/she will tell you-)

 

[Conservative65]

It's not about a concern for wealthy people. It's expecting those of you that constantly argue for equality to stop promoting such an unequal system of taxation.

Why shouldn't people not considered wealthy pay for things like improving education and conducting medical research. Aren't they using education and benefiting from medical research the same as everyone else?

They we're agreed -- less taxation for lower and middle classes… while raising high income tax rates back to Clinton/Reagan era levels AND eliminating any special tax avoidance that is only available to the rich.

No Tax Havens.

No Buying and Selling through shell companies.

Equity swaps taxed at full rate.

Eliminate ways to avoid Capital Gains tax by borrowing with shares as collateral.

No exceptions to death tax. No GRAT- grantor retained annuity trusts.

No shell trust funds.

…there are many more…

why do we need capital gains tax exactly?

We are deeply in debt?

so why not stop spending? why do you want to spend more if you ain't got it?

I'm not spending, republicans are however.

The debt went from 10 to 20 trillion under Obama. Is he a Republican?

 

[Brain357]

Great thread!

Outstanding!!

But many of the folks here at USMB are pretty brainwashed to believe that taxes are just too high and taxing the rich is Marxist redistribution of wealth, blah, blah, blah, noise...

I've tried to explain how the system was rigged starting back in the 80's so that wealth accumulated at the top level over time. They don't want to know.

Now there are trillions of dollars hiding offshore, individual and corporate -- money that was made in American markets off the American consumer driven economy. And those trillions are out of reach unless the U.S. is prepared to enact retroactive clawback laws… Keeping in mind the hell storm of lobbyists for the rich that would shut any attempt down…

But keep up the good work. Maybe we can save one or two of these people, wake them up with a red pill of truth…

When half the country pays nothing in income taxes, they are too high on those of us that pay them. If the system is rigged, it's rigged in favor of those that don't contribute to society and punishes those that do by forcing them to pay more to offset the freeloaders.

We would sure be better off with more, better paying jobs. Then more would pay taxes. Where should we get those?

By dropping regulations, which is being done, and we see the increase in better jobs already. The obummer regulations removed jobs and put people on welfare. Trump is correcting that. GDP for August was 3.0% ouch, obummer never got better than 1.8%

Which regulations specifically?

What?
New Report Reveals the Number of Obama Regulations Trump Has Killed

"The Trump administration has stopped over 800 regulations proposed under former president Barack Obama, according to a new White House report.

Reuters reported Thursday:

The White House said Thursday it had withdrawn or removed from active consideration more than 800 proposed regulations that were never finalized during the Obama administration as it works to shrink the federal government's regulatory footprint."

That isn't specific at all. Tell which ones he got rid of that will make this huge difference.

 

[Brain357]

They we're agreed -- less taxation for lower and middle classes… while raising high income tax rates back to Clinton/Reagan era levels AND eliminating any special tax avoidance that is only available to the rich.

No Tax Havens.

No Buying and Selling through shell companies.

Equity swaps taxed at full rate.

Eliminate ways to avoid Capital Gains tax by borrowing with shares as collateral.

No exceptions to death tax. No GRAT- grantor retained annuity trusts.

No shell trust funds.

…there are many more…

why do we need capital gains tax exactly?

We are deeply in debt?

so why not stop spending? why do you want to spend more if you ain't got it?

I'm not spending, republicans are however.

The debt went from 10 to 20 trillion under Obama. Is he a Republican?

Who controls the purse strings? Who has for years now?

 

[Conservative65]

It's not about a concern for wealthy people. It's expecting those of you that constantly argue for equality to stop promoting such an unequal system of taxation.

Why shouldn't people not considered wealthy pay for things like improving education and conducting medical research. Aren't they using education and benefiting from medical research the same as everyone else?

They we're agreed -- less taxation for lower and middle classes… while raising high income tax rates back to Clinton/Reagan era levels AND eliminating any special tax avoidance that is only available to the rich.

No Tax Havens.

No Buying and Selling through shell companies.

Equity swaps taxed at full rate.

Eliminate ways to avoid Capital Gains tax by borrowing with shares as collateral.

No exceptions to death tax. No GRAT- grantor retained annuity trusts.

No shell trust funds.

…there are many more…

In other words, those that vote for a living want to punish those that actually work for one. Got it.

 

[jc456]

When half the country pays nothing in income taxes, they are too high on those of us that pay them. If the system is rigged, it's rigged in favor of those that don't contribute to society and punishes those that do by forcing them to pay more to offset the freeloaders.

We would sure be better off with more, better paying jobs. Then more would pay taxes. Where should we get those?

By dropping regulations, which is being done, and we see the increase in better jobs already. The obummer regulations removed jobs and put people on welfare. Trump is correcting that. GDP for August was 3.0% ouch, obummer never got better than 1.8%

Which regulations specifically?

What?
New Report Reveals the Number of Obama Regulations Trump Has Killed

"The Trump administration has stopped over 800 regulations proposed under former president Barack Obama, according to a new White House report.

Reuters reported Thursday:

The White House said Thursday it had withdrawn or removed from active consideration more than 800 proposed regulations that were never finalized during the Obama administration as it works to shrink the federal government's regulatory footprint."

That isn't specific at all. Tell which ones he got rid of that will make this huge difference.

why? I'm not beholding to you anything. you asked I gave you them. go read rabbit.

 

[Conservative65]

When half the country pays nothing in income taxes, they are too high on those of us that pay them. If the system is rigged, it's rigged in favor of those that don't contribute to society and punishes those that do by forcing them to pay more to offset the freeloaders.

We would sure be better off with more, better paying jobs. Then more would pay taxes. Where should we get those?

By dropping regulations, which is being done, and we see the increase in better jobs already. The obummer regulations removed jobs and put people on welfare. Trump is correcting that. GDP for August was 3.0% ouch, obummer never got better than 1.8%

Which regulations specifically?

What?
New Report Reveals the Number of Obama Regulations Trump Has Killed

"The Trump administration has stopped over 800 regulations proposed under former president Barack Obama, according to a new White House report.

Reuters reported Thursday:

The White House said Thursday it had withdrawn or removed from active consideration more than 800 proposed regulations that were never finalized during the Obama administration as it works to shrink the federal government's regulatory footprint."

That isn't specific at all. Tell which ones he got rid of that will make this huge difference.

Any of them that would negatively affect you and your family. I don't care specifically which ones just those.

 

[Brain357]

It's not about a concern for wealthy people. It's expecting those of you that constantly argue for equality to stop promoting such an unequal system of taxation.

Why shouldn't people not considered wealthy pay for things like improving education and conducting medical research. Aren't they using education and benefiting from medical research the same as everyone else?

They we're agreed -- less taxation for lower and middle classes… while raising high income tax rates back to Clinton/Reagan era levels AND eliminating any special tax avoidance that is only available to the rich.

No Tax Havens.

No Buying and Selling through shell companies.

Equity swaps taxed at full rate.

Eliminate ways to avoid Capital Gains tax by borrowing with shares as collateral.

No exceptions to death tax. No GRAT- grantor retained annuity trusts.

No shell trust funds.

…there are many more…

why do we need capital gains tax exactly?

We are deeply in debt?

There are others ways to help that. Either stop spending more than we know we have and/or have the half that pay zero income taxes do their part.

Sure tell repubs to stop spending. So ask those with nothing to pay taxes. Brilliant.

 

[Brain357]

We would sure be better off with more, better paying jobs. Then more would pay taxes. Where should we get those?

By dropping regulations, which is being done, and we see the increase in better jobs already. The obummer regulations removed jobs and put people on welfare. Trump is correcting that. GDP for August was 3.0% ouch, obummer never got better than 1.8%

Which regulations specifically?

What?
New Report Reveals the Number of Obama Regulations Trump Has Killed

"The Trump administration has stopped over 800 regulations proposed under former president Barack Obama, according to a new White House report.

Reuters reported Thursday:

The White House said Thursday it had withdrawn or removed from active consideration more than 800 proposed regulations that were never finalized during the Obama administration as it works to shrink the federal government's regulatory footprint."

That isn't specific at all. Tell which ones he got rid of that will make this huge difference.

Any of them that would negatively affect you and your family. I don't care specifically which ones just those.

So you don't specifically know any? Blind faith?

 

[Brain357]

We would sure be better off with more, better paying jobs. Then more would pay taxes. Where should we get those?

By dropping regulations, which is being done, and we see the increase in better jobs already. The obummer regulations removed jobs and put people on welfare. Trump is correcting that. GDP for August was 3.0% ouch, obummer never got better than 1.8%

Which regulations specifically?

What?
New Report Reveals the Number of Obama Regulations Trump Has Killed

"The Trump administration has stopped over 800 regulations proposed under former president Barack Obama, according to a new White House report.

Reuters reported Thursday:

The White House said Thursday it had withdrawn or removed from active consideration more than 800 proposed regulations that were never finalized during the Obama administration as it works to shrink the federal government's regulatory footprint."

That isn't specific at all. Tell which ones he got rid of that will make this huge difference.

why? I'm not beholding to you anything. you asked I gave you them. go read rabbit.

So you have no clue. I didn't think so.

 

[Conservative65]

It's not about a concern for wealthy people. It's expecting those of you that constantly argue for equality to stop promoting such an unequal system of taxation.

Why shouldn't people not considered wealthy pay for things like improving education and conducting medical research. Aren't they using education and benefiting from medical research the same as everyone else?

They we're agreed -- less taxation for lower and middle classes… while raising high income tax rates back to Clinton/Reagan era levels AND eliminating any special tax avoidance that is only available to the rich.

No Tax Havens.

No Buying and Selling through shell companies.

Equity swaps taxed at full rate.

Eliminate ways to avoid Capital Gains tax by borrowing with shares as collateral.

No exceptions to death tax. No GRAT- grantor retained annuity trusts.

No shell trust funds.

…there are many more…

why do we need capital gains tax exactly?

We are deeply in debt?

There are others ways to help that. Either stop spending more than we know we have and/or have the half that pay zero income taxes do their part.

Sure tell repubs to stop spending. So ask those with nothing to pay taxes. Brilliant.

I'm asking those that live in society to contribute to society. That's what you pieces of shit on the left use to justify a progressive tax system. Suddenly, when it involves those that don't contribute to society actually doing what you claim should be done, you run from it.

 

[Conservative65]

By dropping regulations, which is being done, and we see the increase in better jobs already. The obummer regulations removed jobs and put people on welfare. Trump is correcting that. GDP for August was 3.0% ouch, obummer never got better than 1.8%

Which regulations specifically?

What?
New Report Reveals the Number of Obama Regulations Trump Has Killed

"The Trump administration has stopped over 800 regulations proposed under former president Barack Obama, according to a new White House report.

Reuters reported Thursday:

The White House said Thursday it had withdrawn or removed from active consideration more than 800 proposed regulations that were never finalized during the Obama administration as it works to shrink the federal government's regulatory footprint."

That isn't specific at all. Tell which ones he got rid of that will make this huge difference.

Any of them that would negatively affect you and your family. I don't care specifically which ones just those.

So you don't specifically know any? Blind faith?

No, I simply don't care which ones as long as you suffer. It's not the means I'm concerned with but the ends.

 

[Brain357]

Which regulations specifically?

What?
New Report Reveals the Number of Obama Regulations Trump Has Killed

"The Trump administration has stopped over 800 regulations proposed under former president Barack Obama, according to a new White House report.

Reuters reported Thursday:

The White House said Thursday it had withdrawn or removed from active consideration more than 800 proposed regulations that were never finalized during the Obama administration as it works to shrink the federal government's regulatory footprint."

That isn't specific at all. Tell which ones he got rid of that will make this huge difference.

Any of them that would negatively affect you and your family. I don't care specifically which ones just those.

So you don't specifically know any? Blind faith?

No, I simply don't care which ones as long as you suffer. It's not the means I'm concerned with but the ends.

I didn't think you had a clue.

 

[Brain357]

They we're agreed -- less taxation for lower and middle classes… while raising high income tax rates back to Clinton/Reagan era levels AND eliminating any special tax avoidance that is only available to the rich.

No Tax Havens.

No Buying and Selling through shell companies.

Equity swaps taxed at full rate.

Eliminate ways to avoid Capital Gains tax by borrowing with shares as collateral.

No exceptions to death tax. No GRAT- grantor retained annuity trusts.

No shell trust funds.

…there are many more…

why do we need capital gains tax exactly?

We are deeply in debt?

There are others ways to help that. Either stop spending more than we know we have and/or have the half that pay zero income taxes do their part.

Sure tell repubs to stop spending. So ask those with nothing to pay taxes. Brilliant.

I'm asking those that live in society to contribute to society. That's what you pieces of shit on the left use to justify a progressive tax system. Suddenly, when it involves those that don't contribute to society actually doing what you claim should be done, you run from it.

I'm an independent. When will congress stop spending?

 

[Conservative65]

What?
New Report Reveals the Number of Obama Regulations Trump Has Killed

"The Trump administration has stopped over 800 regulations proposed under former president Barack Obama, according to a new White House report.

Reuters reported Thursday:

The White House said Thursday it had withdrawn or removed from active consideration more than 800 proposed regulations that were never finalized during the Obama administration as it works to shrink the federal government's regulatory footprint."

That isn't specific at all. Tell which ones he got rid of that will make this huge difference.

Any of them that would negatively affect you and your family. I don't care specifically which ones just those.

So you don't specifically know any? Blind faith?

No, I simply don't care which ones as long as you suffer. It's not the means I'm concerned with but the ends.

I didn't think you had a clue.

The only thing I'm concerned with is that you suffer from it. I don't care if it's from the head down or feet up. The ends justify the means and the means don't matter as long as the ends do the job.

 

[Conservative65]

why do we need capital gains tax exactly?

We are deeply in debt?

There are others ways to help that. Either stop spending more than we know we have and/or have the half that pay zero income taxes do their part.

Sure tell repubs to stop spending. So ask those with nothing to pay taxes. Brilliant.

I'm asking those that live in society to contribute to society. That's what you pieces of shit on the left use to justify a progressive tax system. Suddenly, when it involves those that don't contribute to society actually doing what you claim should be done, you run from it.

I'm an independent. When will congress stop spending?

Bullshit. That's the cop out from lefties that don't have the guts to admit what they are. Funny how all of you claiming that status support the left side of the aisle when it comes to policy.

I could take some chicken shit, make it look like and call it chicken salad. Would you eat it?

 

[Brain357]

That isn't specific at all. Tell which ones he got rid of that will make this huge difference.

Any of them that would negatively affect you and your family. I don't care specifically which ones just those.

So you don't specifically know any? Blind faith?

No, I simply don't care which ones as long as you suffer. It's not the means I'm concerned with but the ends.

I didn't think you had a clue.

The only thing I'm concerned with is that you suffer from it. I don't care if it's from the head down or feet up. The ends justify the means and the means don't matter as long as the ends do the job.

Yes no clue. I'm not suffering... I'm laughing at you however.