Eat The Rich!
KS- Moved a conversation in Mod Thread about taxing the wealthy.
I don’t think you guys understand how numbers work.
If billionaires were taxed at the same rates as everyone else ALL TAXES would be covered by their contribution
Nobody else would have to pay any taxes ever.
It’s not my fault you haven’t taught yourself to understand economics and how large large numbers work
Blowjob healthcare would save the country money.
So would reparations.
I don’t think you guys understand how numbers work.
If billionaires were taxed at the same rates as everyone else ALL TAXES would be covered by their contribution
Nobody else would have to pay any taxes ever.
It’s not my fault you haven’t taught yourself to understand economics and how large large numbers work
Blowjob healthcare would save the country money.
So would reparations.
lol, the total wealth of american billionaires is 5.5T , which means that even if you sequester their whole net worth, that would cover... less than a SINGLE year of federal expenses (which were 6.13T in FY 2023).
Billionaires aggregate income, even if you want to include the unrealized appreciation of their assets as income (which you shouldn't and which we don't do for others as well), amounts to less than one trillion per year (on average, significant fluctuations exist if you are using asset prices to gauge income), so even if you taxed that at 50%, that would be less than 500 billions per year, which would be less than 10% of federal expenses.
And ofc there are state and local taxes as well to cover.
Tl:dr : you don't have the vaguest clue what you are talking about (as usual)
I’m quoting Warren buffett here. I’m sure you guys know more than him though.
That's what I thought, you're making **** up again, aren't you?
I buy expensive suits, they just look cheap on me.
https://ca.news.yahoo.com/fact-check-war....
Billionaires and their companies. Excuse me.
“If all 100 paid the same tax rate as Buffett's Berkshire-Hathaway, it would result in more than $2 Trillion in tax revenue for the U.S. Government, or nearly half of all tax revenue that currently comes into the U.S. Treasury.
Of course, a number of those companies do pay some sort of taxes already, but if you took the top 800 companies as Buffett suggests, it is possible that deficit spending could be greatly reduced, while eliminating taxes paid by citizens.”
Inb4 you guys realize billionaires control companies through stocks and other companies.
You guys don’t think millionaires and poor people own the companies do you?
I don’t think you guys understand how numbers work.
If billionaires were taxed at the same rates as everyone else ALL TAXES would be covered by their contribution
Nobody else would have to pay any taxes ever.
It’s not my fault you haven’t taught yourself to understand economics and how large large numbers work
Blowjob healthcare would save the country money.
So would reparations.
What about keeping the blowjob healthcare dept private so people can compete for better blowjobs while taxing that money at a higher rate to pay for the reparations of the recipients of slaves.
I don't know how it is in the US, but in the UK big companies' major shareholders are often pension funds, acting in the interests of fairly ordinary people.
What has happened here is that PW, being completely clueless about how both numbers and taxes work, made one of his usual arrogant, condescending declarations and, when called on it, doubled down by attributing it to Warren Buffet, and linking a source that literally states "false - that is not what Warren Buffet said". The man is nothing short of a forum posting genius.
What has happened here is that PW, being completely clueless about how both numbers and taxes work, made one of his usual arrogant, condescending declarations and, when called on it, doubled down by attributing it to Warren Buffet, and linking a source that literally states "false - that is not what Warren Buffet said". The man is nothing short of a forum posting genius.
Oh dear. How very unfortunate.
Got to give the poor soul some credit for the screen name though.
Warren Buffett often claims very rich people pay a marginal income tax rate lower than normally wealthy people, and under some semantic agreement that can be true (it's all about capital gain and how you see them).
That has NOTHING to do with the absurd idea that taxing billionaires a lot would cover all government expenses.
Which is a ******ed objectively false claim
What has happened here is that PW, being completely clueless about how both numbers and taxes work, made one of his usual arrogant, condescending declarations and, when called on it, doubled down by attributing it to Warren Buffet, and linking a source that literally states "false - that is not what Warren Buffet said". The man is nothing short of a forum posting genius.
One of his claims is actually a Buffett claim (that billionaires pay less taxes than normally wealthy people).
The others aren't. He is just confused tbh
One of his claims is actually a Buffett claim (that billionaires pay less taxes than normally wealthy people).
The others aren't. He is just confused tbh
I am well aware of what Buffet has to say on the matter, and it wasn't one of PW's claims, or if it was, it wasn't the one to which I responded,
IMHO the progressive tax system work just fine, it just need more tax brackets .
Doesn’t make sense someone winning (not precise numbers) 400k has the same tax bracket as someone winning 10-50 millions shrug .
AND, the nonsense of paying management for example with stock options is so bad (because of incentives of buybacks shares and other issues about accounting ) , it should revert as it was before with normal income wages and taxed accordingly .
