Taxes and the Mega-Wealthy

[evillawyer]

Big, big report from pro publica today. They got tax records for America's wealthiest, and not surprisingly, the wealthiest are playing the system to pay only a small percentage of their wealth over on taxes.

 

[McDad]

Big, big report from pro publica today. They got tax records for America's wealthiest, and not surprisingly, the wealthiest are playing the system to pay only a small percentage of their wealth over on taxes.

https://t.co/CRf09zPJkP?amp=1

I would really like to not turn VN into a reddit sub forum.

I saw this on reddit, too.

Did you read the report?

 

[hog88]

Big, big report from pro publica today. They got tax records for America's wealthiest, and not surprisingly, the wealthiest are playing the system to pay only a small percentage of their wealth over on taxes.

Link not working.

 

[NorthDallas40]

I would really like to not turn VN into a reddit sub forum.

I saw this on reddit, too.

Did you read the report?

Can you give us a summary? I’d much rather hear you take over the shrew’s.

 

[allvol123]

I'm all for people keeping their money. Awesome.

 

[0nelilreb]

Big, big report from pro publica today. They got tax records for America's wealthiest, and not surprisingly, the wealthiest are playing the system to pay only a small percentage of their wealth over on taxes.

Frickin liberal Scum , always working the system and breaking it off in the most effected groups .. minorities .

 

[landscapingvol]

Big, big report from pro publica today. They got tax records for America's wealthiest, and not surprisingly, the wealthiest are playing the system to pay only a small percentage of their wealth over on taxes.

Weird considering nearly all of them are progressive, I mean I thought they wanted to pay their fair share and distribute their wealth?

 

[McDad]

Can you give us a summary? I’d much rather hear you take over the shrew’s.

I am about halfway through it. One thing of note so far, and EL's sentence structure gives insight to it, there is a lot of intermingling of "wealth", and "income". I think that is done intentionally.

As you know, we do not have a wealth tax in this country. And income under our system is classified as earned and unearned which are taxed differently.

 

[BigOrangeMojo]

Can you give us a summary? I’d much rather hear you take over the shrew’s.

The group that distributed this report wants the super rich to be taxed on their unrealized investment gains...

 

[allvol123]

I am about halfway through it. One thing of note so far, and EL's sentence structure gives insight to it, there is a lot of intermingling of "wealth", and "income". I think that is done intentionally.

As you know, we do not have a wealth tax in this country. And income under our system is classified as earned and unearned which are taxed differently.

Lol. But this is a GRoundbreaking report!

Hilarious.

 

[BigOrangeMojo]

A wealth tax is a stupid idea that is impossible to implement practically....

But hey, what do I know?

 

[McDad]

The group that distributed this report wants the super rich to be taxed on their unrealized investment gains...

Seems like this is the intent.

 

[KB5252]

Weird considering nearly all of them are progressive, I mean I thought they wanted to pay their fair share and distribute their wealth?

They want to distribute your wealth, not theirs.

 

[BigOrangeMojo]

Seems like this is the intent.

It's obvious the intent is to draw a narrative that a wealth tax is the way to go. Estate tax valuations are one of the most heavily contested aspects of our current tax system and a wealth tax is essentially going to be doing this every year.

 

[volfanhill]

So the majority of this is complaining that people don't pay taxes on unrealized increase in valuations of assets.

 

[allvol123]

It's obvious the intent is to draw a narrative that a wealth tax is the way to go. Estate tax valuations are one of the most heavily contested aspects of our current tax system and a wealth tax is essentially going to be doing this every year.

The intent is also to get false information into the brains of people. Somewhere at a water cooler today some morons are talking about Buffett paying a 0.1% tax rate.

 

[0nelilreb]

A wealth tax is a stupid idea that is impossible to implement practically....

But hey, what do I know?

I thought the same thing about an open carbon tax , and state mandated lock downs . I believed there’s was no way politicians could convince taxpayers to go along with that bs . I no longer underestimate the power of the propaganda machine to influence what should be sane people , when the subject matter is repeated enough times .

 

[NorthDallas40]

I am about halfway through it. One thing of note so far, and EL's sentence structure gives insight to it, there is a lot of intermingling of "wealth", and "income". I think that is done intentionally.

As you know, we do not have a wealth tax in this country. And income under our system is classified as earned and unearned which are taxed differently.

Ok based on the source and the water carrier I had assumed it was along those lines. Thanks for the info I won’t waste time reading it.

 

[NorthDallas40]

The group that distributed this report wants the super rich to be taxed on their unrealized investment gains...

Thanks

 

[0nelilreb]

So the majority of this is complaining that people don't pay taxes on unrealized increase in valuations of assets.

There’s one thing that’s constant on here , the fact that EL doesn’t bother reading the article before posting the flashy headlines .

 

[BigOrangeMojo]

The intent is also to get false information into the brains of people. Somewhere at a water cooler today some morons are talking about Buffett paying a 0.1% tax rate.

It's the same thing with the Corporate minimum tax. Biden passed bonus depreciation multiple times as a Senator and advocated for it while Obama was President. But he wants to creat a new tax for corporations (FedEx for example) that file their returns in accordance with the bonus depreciation provisions he previously voted for....

 

[McDad]

It's obvious the intent is to draw a narrative that a wealth tax is the way to go. Estate tax valuations are one of the most heavily contested aspects of our current tax system and a wealth tax is essentially going to be doing this every year.

In the reddit thread there is considerable gnashing of teeth about tax law favoring the wealthy. But none of those socialists seem to understand (or maybe they don't WANT to admit) the people creating tax law are wealthy politicians in both parties.

 

[NorthDallas40]

There’s one thing that’s constant on here , the fact that EL doesn’t bother reading the article before posting the flashy headlines .

Just her usual dump and scoot

 

[Vol737]

Big, big report from pro publica today. They got tax records for America's wealthiest, and not surprisingly, the wealthiest are playing the system to pay only a small percentage of their wealth over on taxes.

You mean they’re taking advantage of all available tax savings and write offs allowed under our tax laws? How awful. Bastards! Keeping their own money instead of voluntarily handing over more than they’re required to pay?! You should lecture them EL.

 

[NEO]

Can you give us a summary? I’d much rather hear you take over the shrew’s.

They are taxed at capital gains rate and EL is shocked.

Being a lawyer he is just now learning there is such a thing.

He is outraged and wants us to be outraged too.