Top 1% evade $163 billion/year in taxes

#126
#126
AshG said:
As the rich get richer and richer and richer, more children die in the streets or their mothers arms. It is an ugly look, for one to have so much they transcend humanity and look upon their brethren as suppliers of more wealth rather than Imago Dei and in bedy of ministry
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That's a parenting issue (or lack thereof)
 
#129
#129
NorthDallas40 said:
Go ahead. I’ll agree that the city officials in Houston, Dallas, and Austin are all complete morons.
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It's insanity. Got a $1000 fine for holding waste more than 5 business days. They do frequent audits and found that in May of last year we held waste on our truck for 6 business days. Long story short did a job, truck broke down and had to be towed to shop, parts took a few days to get in plus mechanic shortage led to a whole week down. We notified the city per the ordinance but of course in May of 2020 nobody was in the office working, sent emails to the right person but they never updated the record. Yes, we won't end up paying the fine but since the citation has been filed we'll have to show up in court which will end up costing more than the damn fine but we can't risk losing our Houston permit. They do this crap all the time and not just to us.

There are actual law firms in Houston that handle these things for out of state companies and they make a pretty decent chunk of change.
 
#130
#130
hog88 said:
It's insanity. Got a $1000 fine for holding waste more than 5 business days. They do frequent audits and found that in May of last year we held waste on our truck for 6 business days. Long story short did a job, truck broke down and had to be towed to shop, parts took a few days to get in plus mechanic shortage led to a whole week down. We notified the city per the ordinance but of course in May of 2020 nobody was in the office working, sent emails to the right person but they never updated the record. Yes, we won't end up paying the fine but since the citation has been filed we'll have to show up in court which will end up costing more than the damn fine but we can't risk losing our Houston permit. They do this crap all the time and not just to us.
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Wow I wish I could say that shocks me how mismanaged and staffed by incompetent morons our large Texas cities are but… 🤷‍♂️
 
#131
#131
hog88 said:
It's insanity. Got a $1000 fine for holding waste more than 5 business days. They do frequent audits and found that in May of last year we held waste on our truck for 6 business days. Long story short did a job, truck broke down and had to be towed to shop, parts took a few days to get in plus mechanic shortage led to a whole week down. We notified the city per the ordinance but of course in May of 2020 nobody was in the office working, sent emails to the right person but they never updated the record. Yes, we won't end up paying the fine but since the citation has been filed we'll have to show up in court which will end up costing more than the damn fine but we can't risk losing our Houston permit. They do this crap all the time and not just to us.

There are actual law firms in Houston that handle these things for out of state companies and they make a pretty decent chunk of change.
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Should of contributed to Annise

1631565937286.jpeg
 
#134
#134
AshG said:
As the rich get richer and richer and richer
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Of course the rich get richer. It's simple math. Rich people aren't spending 95%-100%+ of their annual income just for the necessities in life. Basic necessities cost a paltry percentage of their annual income. Then, they invest the rest of it, and make annual returns on that invested amount. As such, the % of their annual income needed for basic necessities continues to decrease each year, and their annual income increases. Thus, the rich get richer.
 
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#136
#136
Godfatha said:
Fine, let's simplify the tax code. Do away with exemptions, child credits, etc. Let everyone pay an even, say 15% across the board.
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I've got a better idea, everybody has to pay $1000 per person per year, whether you work or not, then everybody pays 10% to 100K, then 12% from 100K to 1M, then 15% 1M to 10M then it's all free with a forced 5 year average so the CEO can't make 100M this year then 100K for the next 4. Corporations must pay at least 2X the total compensation paid to their executive suite....including stock options......
 
#137
#137
Wireless1 said:
I've got a better idea, everybody has to pay $1000 per person per year, whether you work or not, then everybody pays 10% to 100K, then 12% from 100K to 1M, then 15% 1M to 10M then it's all free with a forced 5 year average so the CEO can't make 100M this year then 100K for the next 4. Corporations must pay at least 2X the total compensation paid to their executive suite....including stock options......
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WTF?
 
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#138
#138
hog88 said:
WTF?
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Make everybody pay taxes whether they work or not, I don't care if it's $100, everybody should have to pay a minimum to gain the privilege of living in the US. Then a nominal increasing scale that is low enough that it's not worth cheating the system
 
#139
#139
Wireless1 said:
Make everybody pay taxes whether they work or not, I don't care if it's $100, everybody should have to pay a minimum to gain the privilege of living in the US. Then a nominal increasing scale that is low enough that it's not worth cheating the system
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I don't like a graduated scale. Just make it a flat 12-15% of all income with zero deductions or exemptions.
 
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#141
#141
Wireless1 said:
Aha, this sounds like a real opportunity for anyone with a printer to start a sub BU as a "local" paper and get in on some of the 1% who avoid taxes.
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Likely they will put an attribution rule in there to prevent that but who knows. There's usually a bunch of technical corrections every time Congress passes a tax law since they can't do it right the first time. (This is an indictment of both parties, not just the Ds)
 
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#142
#142
Vol423 said:
Of course the rich get richer. It's simple math. Rich people aren't spending 95%-100%+ of their annual income just for the necessities in life. Basic necessities cost a paltry percentage of their annual income. Then, they invest the rest of it, and make annual returns on that invested amount. As such, the % of their annual income needed for basic necessities continues to decrease each year, and their annual income increases. Thus, the rich get richer.
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Nothing stopping the poor from doing that too. Yeah it takes longer to reach some critical mass, but it's possible.

Necessities are food, shelter, water, clothes, and some meds. And necessity covers what it takes to survive, nothing more.

Everything, and I mean everything else, is a luxury.
 
#143
#143
Wireless1 said:
I've got a better idea, everybody has to pay $1000 per person per year, whether you work or not, then everybody pays 10% to 100K, then 12% from 100K to 1M, then 15% 1M to 10M then it's all free with a forced 5 year average so the CEO can't make 100M this year then 100K for the next 4. Corporations must pay at least 2X the total compensation paid to their executive suite....including stock options......
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Wait….so if I am taxed as a S Corp and the business makes 1 million and I pay myself 400k I got pay 400k in taxes?

Is this what u are saying?

F that!
 
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#145
#145
NEO said:
Wait….so if I am taxed as a S Corp and the business makes 1 million and I pay myself 400k I got pay 400k in taxes?

Is this what u are saying?

F that!
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Only if you are stupid, pay yourself $399,999 as the janitor and $1 as the president
 
#146
#146
Wireless1 said:
Only if you are stupid, pay yourself $399,999 as the janitor and $1 as the president
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I can’t tell if you are serious or not but that is a huge, huge red flag for the irs. No way in hell
You do that.

You can give yourself a reasonable salary and take the rest as a distribution but it must be reasonable which most accountants say is minimum of 40 percent you gross.

So you can’t really do that.
 
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#150
#150
evillawyer said:
Molly, meet the VN politics forum
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Where is the cheating?

The entire argument is that the rich could be paying more, but because of legal reasons they arent. So, they are bad for following the tax laws. It doesnt make sense.

The IRS would love for anyone to point out the cheats. They hit me up for 400 bucks in a mistake they made, so I am sure they are looking at the rich.
 
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