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Message
re: How much wealth do you need to join the 1% club in your country?
Posted on 2/29/24 at 12:43 pm to fareplay
Posted on 2/29/24 at 12:43 pm to fareplay
quote:
You bootlickers is why America is losing ground
no you dumb frick....you are wanting to kill everyone that invest...
you literally want everyone that has owned a home more than 10 years to have to pay a wealth tax
you want to tax everyones 401k and IRA on unrealized gains
you literally have said...you want to kill any and all investment in this country. might not understand you said that but you did. because you are saying if i earn an income...pay taxes on it at the time...take a risk and invest, the price goes up....even if i dont take it...i have to pay a tax on that new unrealized wealth...and then if it goes down...the government( who took zero risk btw) is not going to give money back.
so essentially you dont want anyone to be able to invest so you want to kill the stock market, the real estate market and only want those who are already extremely wealthy to be able to buy and own businesses
you think you are punishing the super wealthy with your plan...but its the exact opposite
again though...quit ignoring the questions i posed about housing and 401k etc man the frick up and explain please
0
Posted on 2/29/24 at 12:45 pm to mmmmmbeeer
quote:
W-2 employees, yes. The 1%, you're kidding yourself. The realized tax rates for 1%ers are consistently <15-20% while Joe Schmoe the office worked making $175k is paying 30%+.
I'm surprised how many of you have no idea just how gamed the system is.
they arent taking an income is why lol. the tax rates on income for the top 1% is not 15-20%
not it may seem like that because they have plenty of expenses, its run through the business etc but it isnt.
Posted on 2/29/24 at 12:51 pm to lsu777
quote:
businesses pay taxes on profit not revenue...
Why do people pay taxes on “revenue” instead of profit?
Posted on 2/29/24 at 12:53 pm to fareplay
quote:bullshite. Do you do everything you can to increase your tax burden? Do you avoid deductions? Do you file as "Married filing separately"? Those would considerably raise the taxes you owe. But you don't because you're full of shite.
I welcome being taxed proportionate to our wealth versus our income
This post was edited on 2/29/24 at 1:02 pm
Posted on 2/29/24 at 12:56 pm to mmmmmbeeer
quote:No, he's not. Probably around 17% effectively.
Joe Schmoe the office worked making $175k is paying 30%+
Posted on 2/29/24 at 12:57 pm to fareplay
quote:
You bootlickers is why America is losing ground
Ahh, didn't realize you were trolling this whole time. Obviously you must be if you refer to someone against the IRS taxing the same income multiple times as a "bootlicker".
Posted on 2/29/24 at 12:59 pm to lsu777
quote:
they arent taking an income is why lol. the tax rates on income for the top 1% is not 15-20%
not it may seem like that because they have plenty of expenses, its run through the business etc but it isnt.
So we agree they're skirting the tax rates you or I pay by not taking a salary. Why do they do that? Why do many of these uber-wealthy prefer to be paid in stock rather than cash? Why would someone with enormous assets be taking out loans to live on?
That's all I'm saying, man. These folks are 100% skirting the same laws you and I are tied to. It's bullshite, driven by paid off politicians, high-priced lawyers and accountants, and corporate boards who abandon their fidicuary duties and, instead, look out for their rich pals. It's absolutely BEYOND ME how anyone who actually pays income taxes would stick up for this behavior. Even funnier, these same defenders will badmouth those who skirt taxes by not making enough money.
Additionally, many (not necessarily you) default to, "oh, the 1% pay 40% of income taxes! They're paying their fair share!!!". Well yeah, no shite, when you're talking about trillions of dollars of wealth concentrated amonst 1% of the population, even them paying only 10% in taxes will outpace the dollar amount paid by the bottom 50%.
If I own 10,000 acres of land and am forced to give away 10%, I still have 9,000 acres of land. If another guy owns 10 acres of land and is forced to give away 10%, he's left with 9 acres. Same percentage but the bigger landowner had to give up more of his property. Can he still run one hell of a farm on his 9,000 acres? Hell yes he can. What about on 9 acres? That lost acre has a MUCH larger impact on the smaller landowner .
Posted on 2/29/24 at 1:07 pm to fareplay
"Flat on what? Income? That hurts poor more than rich. Why does the OT hate middle to lower middle class when they are exactly that"
Speak for yourself Mr Middle Class. A flat tax is fair for all classes. The guy who makes a million a year pays $200k while the guy making $50k only pays $10k. Robinhood taxes that take from the productive and give to the unproductive are nothing more than American socialism.
Speak for yourself Mr Middle Class. A flat tax is fair for all classes. The guy who makes a million a year pays $200k while the guy making $50k only pays $10k. Robinhood taxes that take from the productive and give to the unproductive are nothing more than American socialism.
Posted on 2/29/24 at 1:13 pm to saint tiger225
You just need a Harley Davidson and a serious disregard for the law and they'll probably patch you in after a probationary period.
Posted on 2/29/24 at 1:16 pm to mmmmmbeeer
quote:
It's absolutely BEYOND ME how anyone who actually pays income taxes would stick up for this behavior.
Get mad at the federal government. Nothing about this is illegal. Do you claim deductions beyond the standard? We sure as heck itemize. Does that make me bad?
And plus, most of these uber-wealthy people have done their "fair share" tenfold by contributing to society by owning businesses, employing people, and taking risks. I don't care if people like Musk pay taxes at all, honestly.
Posted on 2/29/24 at 1:16 pm to Dawgfanman
quote:
Why do people pay taxes on “revenue” instead of profit?
we dont, things like insurance, retirement etc are all expenses to be taken pre tax. then we pay on the profit
Posted on 2/29/24 at 1:18 pm to HouseMom
the thing is, the people he is complaining about aka the top 10% pay 87% of the taxes in this country...sure sounds like they are paying way more than their "fair share"
but commies are going to commie
but commies are going to commie
Posted on 2/29/24 at 1:20 pm to fareplay
quote:
Income isn’t the same as wealth. Elon at one point made no income but was worth billions
Correct. Income does not determine who is and isn’t in the top 1%. I’ve known lots of people with nice six figures income that had very little real wealth.
Posted on 2/29/24 at 1:24 pm to fareplay
This post was edited on 4/5/24 at 2:44 pm
Posted on 2/29/24 at 1:28 pm to mmmmmbeeer
quote:
So we agree they're skirting the tax rates you or I pay by not taking a salary. Why do they do that? Why do many of these uber-wealthy prefer to be paid in stock rather than cash? Why would someone with enormous assets be taking out loans to live on?
That's all I'm saying, man. These folks are 100% skirting the same laws you and I are tied to. It's bullshite,
If they are taking advantage of legal tax / financial laws that allow them to keep more of their own money, then what's the issue?
We all do the same if we can. If there's a way to keep more of our money legally, then we do it.
If you have an issue with that, write your Congressman/woman to change the laws.
All of this is a waste of time though. As I previously mentioned, we don't have a taxation problem, we have a spending problem.
Posted on 2/29/24 at 1:28 pm to HouseMom
quote:
And plus, most of these uber-wealthy people have done their "fair share" tenfold by contributing to society by owning businesses, employing people, and taking risks. I don't care if people like Musk pay taxes at all, honestly.
How much would Bezos or Musk be worth if there weren't an interstate/highway system? How about if there were no subsidized power plants? What would Zuck be worth if the government hadn't developed the internet? Oil companies and corporate farmers without government subsidies?
Let's not pretend these folks have done this on their own. They OWE society a great debt for their successes.
Posted on 2/29/24 at 1:28 pm to fareplay
quote:Cool how much extra are you sending i t is year?
I welcome being taxed proportionate to our wealth versus our income
Posted on 2/29/24 at 1:29 pm to dcrews
quote:
If they are taking advantage of legal tax / financial laws that allow them to keep more of their own money, then what's the issue?
We all do the same if we can. If there's a way to keep more of our money legally, then we do it.
We all can't do what they do. Why is that so difficult for folks to comprehend?
Posted on 2/29/24 at 1:30 pm to mmmmmbeeer
quote:
We all can't do what they do. Why is that so difficult for folks to comprehend?
why...please quote the law that says we cant.
Posted on 2/29/24 at 1:36 pm to mmmmmbeeer
quote:
We all can't do what they do
Your principal point was using the system to avoid paying more in taxes was somehow a bad thing.
Everyone can do that EVERY YEAR when we take standard deductions, itemize, etc....
Just because an individual has other financial vehicles and LEGALLY utilizes tax laws to keep more of their own money, doesn't make them evil.
quote:
Why is that so difficult for folks to comprehend?
I'm not comprehending why people are advocating for more Americans to give more of their own money to an entity that has us over $30 trillion in debt.
Seems to me we should all be arguing about why our elected officials refuse to slow down the spending.
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