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re: IRS Billionaire leak: Bezos paid $0 in income tax, got a $4k tax credit for his two kids

Posted on 6/9/21 at 12:52 pm to
Posted by mmmmmbeeer
ATL
Member since Nov 2014
10189 posts
Posted on 6/9/21 at 12:52 pm to
quote:

So what is the cap one should earn that you deem them a good person and not part of the 1% you are claiming to hate?

Or did you buy into the middle class Joe bullshite?


I didn't start grading people's value systems on incomes. You did, by saying I shouldn't have voted for Biden because he made some money off a book deal.
Posted by Centinel
Idaho
Member since Sep 2016
46210 posts
Posted on 6/9/21 at 12:52 pm to
quote:

The regressive nature of our tax code


lolwut? We have one of the most progressive, if not the most progressive tax system in the entire world.
Posted by RogerTheShrubber
Juneau, AK
Member since Jan 2009
299716 posts
Posted on 6/9/21 at 12:52 pm to
quote:

because you personally feel harmed by other people's money and success.


He is absolutely bitter at the idea people are more successful than he. (damnit, assumed gender)

Thats what his entire ideology is framed around.
Posted by dgnx6
Member since Feb 2006
89841 posts
Posted on 6/9/21 at 12:53 pm to
quote:

Can not hate the person…but fix the issue….I am guessing his wealth is converted to money in some other country????


That and leverage.

Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
37536 posts
Posted on 6/9/21 at 12:53 pm to
quote:

We have one of the most progressive, if not the most progressive tax system in the entire world


That doesn't inherently make it not regressive.

Just less so than others.
Posted by dgnx6
Member since Feb 2006
89841 posts
Posted on 6/9/21 at 12:54 pm to
quote:

didn't start grading people's value systems on incomes. You did, by saying I shouldn't have voted for Biden because he made some money off a book deal.


No I didn't. You did. I don't care what Biden makes, I'm not the one bitching about the rich then voting for them.

Posted by Abstract Queso Dip
Member since Mar 2021
5878 posts
Posted on 6/9/21 at 12:55 pm to
We live in a modern society where charities like "feeding America" shouldn't exist. Nor should hospitals that rely on donations like St Jude.

We should have figured out by now how the product of our labor as Americans provides basic food on the table for all citizens and as well as healthcare. Housing is different story. Get a roommate etc.

Capitalism at it's extreme which is where we have been heading the last 40 years means 100 people own all the resources. Before long you may have to pay them to breathe.
Posted by RogerTheShrubber
Juneau, AK
Member since Jan 2009
299716 posts
Posted on 6/9/21 at 12:57 pm to
quote:

Capitalism at it's extreme which is where we have been heading the last 40 years


We are less capitalistic than we were 40 years ago. THe government is far more entwined in the economy (not capitalistic) more than any time except WWII.
Posted by dgnx6
Member since Feb 2006
89841 posts
Posted on 6/9/21 at 12:59 pm to
quote:

We should have figured out by now how the product of our labor as Americans provides basic food on the table for all citizens and as well as healthcare. 


We as humans are extremely efficient at producing food.

Problem is transporting and storage.

And we do provide Healthcare.

And they are already telling us how and where we are allowed to breathe. Don't forget your mask.

But let me guess, billionaire Oprah made us.

This post was edited on 6/9/21 at 1:03 pm
Posted by Centinel
Idaho
Member since Sep 2016
46210 posts
Posted on 6/9/21 at 1:00 pm to
quote:

That doesn't inherently make it not regressive.



Yes, it does. The wealthiest in this country pay the overwhelming majority of taxes. That is an absolute fact and the very definition of a progressive tax system.



Posted by Abstract Queso Dip
Member since Mar 2021
5878 posts
Posted on 6/9/21 at 1:02 pm to
Medical bills are the number 1 reason for people filing bankruptcy.
Posted by jchamil
Member since Nov 2009
19517 posts
Posted on 6/9/21 at 1:09 pm to
quote:

We live in a modern society where charities like "feeding America" shouldn't exist. Nor should hospitals that rely on donations like St Jude.


These entities are much more efficient at what they do than the government will ever be. We need more of these charities and less government
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
37536 posts
Posted on 6/9/21 at 1:10 pm to
quote:

These entities are much more efficient at what they do than the government will ever be. We need more of these charities and less government



That's clearly not what he's saying
Posted by RogerTheShrubber
Juneau, AK
Member since Jan 2009
299716 posts
Posted on 6/9/21 at 1:12 pm to
quote:

The wealthiest in this country pay the overwhelming majority of taxes. That is an absolute fact


Bingo.

Posted by dgnx6
Member since Feb 2006
89841 posts
Posted on 6/9/21 at 1:13 pm to
quote:

Medical bills are the number 1 reason for people filing bankruptcy.


True but how much if that is also down to this? Or combination of?

quote:

Other reasons include unaffordable mortgages or foreclosure, at 45 percent; followed by spending or living beyond one's means, 44.4 percent; providing help to friends or relatives, 28.4 percent; student loans, 25.4 percent; or divorce or separation, 24.4 percent.


I'm merely stating we provide Healthcare.

quote:

The U.S. is famous for over-spending on health care. The nation spent 17.8 percent of its GDP on health care in 2016.


Which is 5 times higher than the military for those keeping track that tend to think all of our spending goes to the military.

quote:

The real difference between the American health care system and systems abroad is pricing.

Specialists, nurses and primary care doctors all earn significantly more in the U.S. compared to other countries. 




So all you folks in the medical field willing to take a pay cut?

Or cap their earnings? why not?






This post was edited on 6/9/21 at 1:28 pm
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
37536 posts
Posted on 6/9/21 at 1:14 pm to
quote:

The wealthiest in this country pay the overwhelming majority of taxes. That is an absolute fact


They also make the overwhelming majority of money. That speaks nothing about how much or low little regressive the system is
Posted by Centinel
Idaho
Member since Sep 2016
46210 posts
Posted on 6/9/21 at 1:21 pm to
quote:

That speaks nothing about how much or low little regressive the system is



The definition of a progressive tax system is that the wealthiest pay the majority of the taxes.

You may not like how much they pay relative to their wealth, but that is irrelevant when it comes to what is or is not a progressive tax system.
This post was edited on 6/9/21 at 1:25 pm
Posted by jchamil
Member since Nov 2009
19517 posts
Posted on 6/9/21 at 1:24 pm to
quote:

That's clearly not what he's saying


No, that's pretty much what it was getting at
Posted by Stan Switek
Member since Apr 2017
475 posts
Posted on 6/9/21 at 1:30 pm to
quote:

They also make the overwhelming majority of money. That speaks nothing about how much or low little regressive the system is


The top 1% earn 21% of AGI while paying 38.5% of the income tax.
The bottom 50% earn 11.3% of AGI while paying 3.1% of the income tax.

Tax Foundation
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
37536 posts
Posted on 6/9/21 at 1:32 pm to
quote:

No, that's pretty much what it was getting at


I don't think so at all. He's saying we should have figured out how to produce and compensate our labor efficiently enough to not have to rely on charity.

Nowhere is the government mentioned as part of that
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