What's ungrateful?
Would shitting on the state you are living in supposed to be grateful?
What about mocking your president because he has dementia?
You are a little ungrateful fucking clown.
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Tax the rich......
- Thread starter hal9000
- Start date
Would shitting on the state you are living in supposed to be grateful?
What about mocking your president because he has dementia?
You are a little ungrateful fucking clown.
Can't find an instance where it's been reported that he did.
Warren Buffett, who advocates higher taxes, defends paying the least among America's richest
"I continue to believe that the tax code should be changed substantially," Warren Buffett said after it was reported that he paid only 0.1 percent in taxes between 2014 and 2018. "And additionally believe that huge dynastic wealth is not desirable for our society."
www.newsweek.com
Warren Buffett and Bill Gates agree that the rich should pay higher taxes—here's what they suggest
Berkshire Hathaway chairman and CEO Warren Buffett told CNBC's Becky Quick that, in America, the "wealthy are definitely undertaxed relative to the general population." Bill Gates has recently made the same points. Here are their suggestions for a fix.
These Billionaires Want The Ultra-Wealthy To Pay More In Taxes
Amid an intensifying debate about tax rates for the superrich, at least a dozen of the country’s wealthiest people have stated publicly that they’re on board to fork over more to the government.
www.forbes.com
So he says he wants to pay more....but just doesn't. 
Maybe he can just say he does and then use the pronoun "higher tax payer".
Maybe he can just say he does and then use the pronoun "higher tax payer".
Or maybe he's a rational actor capitalist captain of industry job creator who built that?So he says he wants to pay more....but just doesn't.
Maybe he can just say he does and then use the pronoun "higher tax payer".
I don't expect people to pay more than they have to. But I do support sh!t-canning all kinds of loopholes and exemptions.
Disney having three cows somewhere between Okeechobee and Orlando doesn't make Disney agricultural. Uncapping Social Security and Medicare income limits subject to taxation might be a big deal for their forward solvency. There's a lot of fat to trim from real estate and investment houses - even the ones that don't need CNBC, Robinhood, and whoever else to bail them out because one asshole who is already loaded might not make more money naked shorting GameStop.
What if we killed the GameStop short, Martin Shkreli, and everyone who attended the Met Gala, ground them up into chum, froze it, and sold the limited edition blocks at minority-owned bait and tackle stores? I mean who is with me on this bad bitch?
We're in agreement....the tax code is written by tax lawyers who lobby congress on behalf of the very wealthy. In the end it's small companies that operate without debt and hire a sh!t load of people that carry the freight. Unfortunately the answer in DC is always the same, raise corporate taxes and individual income taxes,.....knowing full well the very wealthy don't have income and corporations operate under valuations and don't distribute revenue.
Anyone who says corporations are overtaxed is either a liar or doesn’t know what the fvck they’re talking about. It’s the average middle class working stiff on a W2 that’s getting fvcked the hardest with no lube.
There are some simple adjustments they can make that would eliminate a lot of the advantages of the rich, and maybe even lower marginal rates across the board. Eliminate carryovers, tax all cap gains as income, update foreign taxes paid deduction rules, staffing up IRS enforcement on large taxpayers, stuff like that.
the IRS is yet another example of one of the rare shortcomings of the constitution:
the fox is guarding the hen house
the corporatocracy is never going to allow the elimination/reform of something that so clearly benefits the corporatocrats
Or even higher paid W2 employees who don’t have access to all the write offs because they don’t own a business. Which is why many of them end up voting republican.
Even though our last Republican President was the one who took away itemized deductions for individuals. People are stupid, that’s why they vote for republicans.
Agreed, however iirc that wasn’t the case with Bush Jr, Bush Sr, or Reagan. I can see why surgeons, doctors, lawyers etc turn away from “you can afford to pay more!” talk when a very large portion of their paycheck is siphoned off.
I don't think anyone except the democrats party feel like the middle class pay too much n taxes......which is why they keep piling them on.
When you say corporations you don't know what the fuck you're talking about because there's no such thing as a "corporation" with respect to taxes.
There's a couple reasons.
First and foremost, personal legal and liability protection. If you operate a company you don't want to be personally responsible or put your personal finances at risk for anything and everything that could happen. That's what commercial financing and insurance are for...although in the beginning you are signing an awful lot of personal guarantee's until your company has a track record.
Second is for tax purposes. If I were to operate as a sole proprietor than I would not be allowed many of the tax benefits that come from operating a business with employees, payroll, inventory, insurance, fleet vehicles real estate etc etc. The choice then is what type of corporation should you be. This is where you look to the federal tax code for guidance. Some types are Partnership, LLC, LLC treated as subchapter S, S Corp C Corp or even non profit. All have different regulations for the way you operate your business and tax treatments. All have different costs associated with compliance so you need to choose wisely. On top of that all are treated slightly different depending on which state you're a registered entity in.
LLC's are over taxed as the revenue flows to the members for taxation as personal income at the prevailing federal rate even though the members don't actually use the revenue, they leave it in the business to fund operations. S corps are over taxed almost the same way. When they talk about raising marginal rates for the wealthy they are taxing LLC and S Corps because the revenue is taxed at that rate even though it never touches the member or owner bank account. You have guys making 150K per year taxed at 37% because of this. Now The dems want to make that 44% or something like that.
The other side of the spectrum is the C Corps, especially those with multiple subsidiaries both domestic and International. These are your large conglomerates and tech companies. These are grossly undertaxed by using shell corps and subsidiaries and to shelter earnings and create losses that you can carry forward for years. Many times these companies will buy other companies who have losses that still qualify to be carried forward to negate current revenue. You can't "buy with the explicit purpose of creating a tax benefit" but if there's some useful IP or something of value it qualifies. Tech companies do this daily and pay little to no taxes because of it. These companies are the under taxed. Guys like Chuck Shumer and the Dem party have blocked any chance of changing these rules for decades because he and they represent Wall Street. There''s also the trillions held offshore that Trump trued to get returned at a one time tax deal but Shumer and the rest of the Dems funded by Big tech fought it.
I can't remember a meaningful proposal to challenge C Corp tax avoidance but annually you hear screeching noises about corporations and CEO's need to pay their fair share. They are talking about mom and pop companies that employ a lions share of Americans and keep money flowing in the economy. When you hurt these companies you hurt workers.
As far as personal income taxes go, just like LLC's they are taxed at the prevailing federal rates. For the super wealthy they pay no taxes because they have no income. I think Jeff Bezos pays himself $85,000 per year. He has private jets, Hugh yachts, apartments and homes globally, private security, private transportation etc....all payed for by subsidiaries of Amazon for use for free as CEO perks. The rest of what makes him the richest man in the world is Amazon stock and he pays zero tax on that until he converts shares to cash and then at the current capital gains rate of 0,15,or 20% for long term capital gains based on his income at the time....which today would be 15%.