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re: How much wealth do you need to join the 1% club in your country?
Posted on 2/29/24 at 11:23 am to saint tiger225
Posted on 2/29/24 at 11:23 am to saint tiger225
The aggregate of taxes can stay the same but the distribution of the burden should be more weighted on wealth and not income. A billionaire can have 0 taxes if he chooses not to have income.
Us w2 people can’t do that
Us w2 people can’t do that
2
Posted on 2/29/24 at 11:26 am to fareplay
quote:I was answering his false statements about the tax share in America.
Income isn’t the same as wealth. Elon at one point made no income but was worth billions
Posted on 2/29/24 at 11:26 am to saint tiger225
To get to the top it doesn’t hurt to have sociopathic tendencies. Most CEO’s (not all) are not people you would want to be your neighbor.
Posted on 2/29/24 at 11:27 am to fareplay
To further elaborate
My FIL is super wealthy, he has 0 income since retired, only collects dividend income which he files as someone who has 0 other income, and takes out loans at 6% interest tied to his investments to spend money. His effective tax rate is sub 10% but has hundreds of thousands available at will. Is this right? Probably not
My FIL is super wealthy, he has 0 income since retired, only collects dividend income which he files as someone who has 0 other income, and takes out loans at 6% interest tied to his investments to spend money. His effective tax rate is sub 10% but has hundreds of thousands available at will. Is this right? Probably not
Posted on 2/29/24 at 11:29 am to nitwit
quote:
Even some of the wealthiest people in our country have noted this inequity.
The bottom half has no federal tax liability, yet they still get to vote to determine what MY tax rate will be. frick those freeloaders.
Posted on 2/29/24 at 11:31 am to mmmmmbeeer
quote:Much like the actual tax share burden figures went right over your pointy head? Idiot!
This won't make any sense to him, I assure you.
Posted on 2/29/24 at 11:33 am to mmmmmbeeer
quote:
tell me you have zero idea how percentages work without telling me
you are dumb
the more you make the higher percentage of your income you pay...wtf are you talking about
we have an income tax, not a wealth tax. too stupid to understand that
Posted on 2/29/24 at 11:34 am to fareplay
quote:
Income isn’t the same as wealth. Elon at one point made no income but was worth billions
so you want to tax him on his unrealized gains? how fricking dumb are you
Posted on 2/29/24 at 11:34 am to saint tiger225
This post was edited on 4/5/24 at 2:45 pm
Posted on 2/29/24 at 11:34 am to mmmmmbeeer
quote:
This won't make any sense to him, I assure you.
ill ask you same thing
so you want to tax him on his unrealized gains? how fricking dumb are you
Posted on 2/29/24 at 11:38 am to fareplay
quote:
Also short term cap gains only applies to poorer people. Wealthy would hold
dumbass if he holds he hasnt made anything...its called UNREALIZED for a reason
so you want him to pay taxes on something he hasnt made a profit on yet? what happens if the stock tanks before he takes the profit....the government gonna give the money back?
Posted on 2/29/24 at 11:39 am to lsu777
Concepts like unrealized is part of the issue. What is the right way? Don’t know. Does it feel weird that a man with 200 billion dollars pays less than 10% effective? Yeah
Posted on 2/29/24 at 11:41 am to fareplay
then explain this to me
and how the hell you gonna tax someone on unrealized gains? they already pay sales tax, property tax etc now you want them to pay taxes on income they havent earned yet because you believe its wealth? it only becomes wealth once its realized.
quote:
The top 10 percent of earners bore responsibility for 76 percent of all income taxes paid, and the top 25 percent paid 89 percent of all income taxes. Altogether, the top 50 percent of filers earned 90 percent of all income and were responsible for 98 percent of all income taxes paid in 2021.
and how the hell you gonna tax someone on unrealized gains? they already pay sales tax, property tax etc now you want them to pay taxes on income they havent earned yet because you believe its wealth? it only becomes wealth once its realized.
Posted on 2/29/24 at 11:41 am to mmmmmbeeer
quote:WTF?
tell me you have zero idea how percentages work without telling me
you are dumb
Posted on 2/29/24 at 11:41 am to lsu777
You’re asking the same question multiple times and I already said I don’t know
Posted on 2/29/24 at 11:43 am to fareplay
quote:
Concepts like unrealized is part of the issue. What is the right way? Don’t know. Does it feel weird that a man with 200 billion dollars pays less than 10% effective? Yeah
he doesnt have 200 billion you idiot. he has billions in stock in a company where the stock price could plummet tomorrow
the right way is tax everyone 10% across the board on EARNED income aka flat tax or we go to the fair tax system
our system is the exact opposite of what you are claiming and the more you make the more it punishes you
yall cal them loopholes, i call them incentives.
Posted on 2/29/24 at 11:43 am to fareplay
Well shut the frick up then about other people’s investments
Posted on 2/29/24 at 11:43 am to Grigio
To be fair, that's a quote from Knight Frank's report, not this administration.
Posted on 2/29/24 at 11:43 am to saint tiger225
You mean to say that the rich are in fact getting richer?
I'm shocked.
I'm shocked.
Posted on 2/29/24 at 11:43 am to fareplay
quote:
You’re asking the same question multiple times and I already said I don’t know
because you are too god damn dumb to know. go jack off into a milk jug and stfu about tax policy dumbass.
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