How the ultra-rich get away with it

Chew Toy McCoy

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Comes out swinging in the first paragraph

As a class, America's billionaires and millionaires are social parasites. They benefit from American society and its resources, whether human, material, political or legal, while contributing far less than their fair share of taxes. One central aspect of this parasitic behavior is that the very rich are highly adept at translating the American people's tax dollars and public resources into private wealth and income. In that way the plutocrats and kleptocrats — both wealthy individuals and families adn the largest corporations — are free riders, protected by the government and other elites as being "too big to fail." This group also generally rejects any sense of social democracy and responsibility.
 

SuperMatt

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Comes out swinging in the first paragraph

As a class, America's billionaires and millionaires are social parasites. They benefit from American society and its resources, whether human, material, political or legal, while contributing far less than their fair share of taxes. One central aspect of this parasitic behavior is that the very rich are highly adept at translating the American people's tax dollars and public resources into private wealth and income. In that way the plutocrats and kleptocrats — both wealthy individuals and families adn the largest corporations — are free riders, protected by the government and other elites as being "too big to fail." This group also generally rejects any sense of social democracy and responsibility.
Jeff Bezos, supposedly a “champion” of space flight, is literally suing NASA. Suing the DoD wasn’t enough, paying $0 in taxes wasn’t enough. He wants even more money from the government. We need to find a way to permanently rid ourselves of these parasites. I hope we can do it through the current government, because if not - the wealth inequality will just get worse and we might be looking at a violent rebellion of the proletariat.

Screw Jeff Bezos.

 

Chew Toy McCoy

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Like a lot terms associated with the left I dislike “fair share”, although I don’t know what a better term would be yet.

For one, their biggest cheerleaders (often hundred-thousandaires for some reason) will just point to the high dollar amount of taxes they did pay with no regard to what a small overall percentage it is. Paying $7 million in taxes sure sounds like a lot. We’ll just ignore that they had $200 million left over after that.

For another, I believe those at the top pay the most collective amount of our taxes. That doesn’t sound “fair”. We’ll ignore the fact that part of the reason for that is that they have almost all the money.

Also they’ll point to welfare which they feel is paying people money to sit around doing nothing all day. How is that “fair”?

Truth be told, I would be more in favor of a system that doesn’t rely on our taxes and social services so much, but in order for that to happen the ultra rich are going to have release more of their cash hoard to the masses via higher pay compensation. Good luck getting them to do that.

If the nation’s top rich were gathered in a room with the government who told them “OK, we won’t tax you any higher but next time you get caught in your recession causing shenanigans we won’t be bailing you out and there’s a good chance you’ll be thrown in prison and lose all your assets.” after about a 30 second pause to think about and discuss it they’d come back with “Instead we think you should tax us a little higher and give the people more FREE STUFF.”
 

SuperMatt

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Like a lot terms associated with the left I dislike “fair share”, although I don’t know what a better term would be yet.

For one, their biggest cheerleaders (often hundred-thousandaires for some reason) will just point to the high dollar amount of taxes they did pay with no regard to what a small overall percentage it is. Paying $7 million in taxes sure sounds like a lot. We’ll just ignore that they had $200 million left over after that.

For another, I believe those at the top pay the most collective amount of our taxes. That doesn’t sound “fair”. We’ll ignore the fact that part of the reason for that is that they have almost all the money.

Also they’ll point to welfare which they feel is paying people money to sit around doing nothing all day. How is that “fair”?

Truth be told, I would be more in favor of a system that doesn’t rely on our taxes and social services so much, but in order for that to happen the ultra rich are going to have release more of their cash hoard to the masses via higher pay compensation. Good luck getting them to do that.

If the nation’s top rich were gathered in a room with the government who told them “OK, we won’t tax you any higher but next time you get caught in your recession causing shenanigans we won’t be bailing you out and there’s a good chance you’ll be thrown in prison and lose all your assets.” after about a 30 second pause to think about and discuss it they’d come back with “Instead we think you should tax us a little higher and give the people more FREE STUFF.”
The system is rigged in favor of the rich. Any system that has a fast food worker paying more per year in taxes than a billionaire is broken and immoral.
 

Alli

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For one, their biggest cheerleaders (often hundred-thousandaires for some reason) will just point to the high dollar amount of taxes they did pay with no regard to what a small overall percentage it is. Paying $7 million in taxes sure sounds like a lot. We’ll just ignore that they had $200 million left over after that.
Great argument for a flat tax. It’s time.
 

Herdfan

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Great argument for a flat tax. It’s time.

Wow. Certainly didn't expect that from anyone on here, except me of course.


The system is rigged in favor of the rich. Any system that has a fast food worker paying more per year in taxes than a billionaire is broken and immoral.

What if that billionaire had no income and was just spending down assets?
 

SuperMatt

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What if that billionaire had no income and was just spending down assets?
We should have a wealth tax as proposed by Senator Warren. They’ve hidden their profits in LLCs, offshore accounts, shell companies, etc. for decades, but now we should refuse to tax them because they didn’t sell assets this year to be subject to capital gains? Screw that... and immediately start auditing every billionaire. We could get many billions in unpaid taxes if they go aggressively after this handful of parasites.
 

Herdfan

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Everyone pays 27% (just made that number up off the top of the head) of all income. No complicated forms every year, no deductions, no tax accountants.

I think the number bandied about is 17%. But I would be happy with multiple rates but no deductions. For example, 0-20K - 5%, 20-200K - 15% and over 200K - 25%. Still simple enough to do without an accountant.

Problem is too many people don't understand the tax code. My idiot M-I-L is moving and she has enough equity to pay cash for her new house. But she wants a mortgage because she wants her tax deduction. Gave up trying to explain to her why she was wrong, so I told her to go look at her tax return and she will see that unless her accountant is a complete moron, she used the standard deduction and didn't itemize. Still waiting to hear what she found out...................................
 

SuperMatt

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Everyone pays 27% (just made that number up off the top of the head) of all income. No complicated forms every year, no deductions, no tax accountants.
How does one determine what income is?

Are you talking about Rand Paul’s plan?

 

Alli

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How does one determine what income is?

Are you talking about Rand Paul’s plan?

I have not heard of his plan, but I can imagine if Paul came up with it, it’s terrible.

Income=any money received for goods or services.
 
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