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  1. #26
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    Quote Originally Posted by Slick View Post
    Idiot, I don’t pay any tax on my “wealth” until I sell, just like these “oligarch” boogeymen you cry so much about.
    You dumb motherfucker once again pointing out the obvious. This is like shit kids learn in the eigth grade business class, yet you seem to think you are dropping a knowledge bomb.



    Quote Originally Posted by Slick View Post
    You really are just a mental juvenile in all this, Bshit. Full of piss and vinegar and not much else.
    The stupid is on full tilt here.

  2. #27
    Thailand Expat Slick's Avatar
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    Quote Originally Posted by bsnub View Post
    You dumb motherfucker once again pointing out the obvious. This is like shit kids learn in the eigth grade business class, yet you seem to think you are dropping a knowledge bomb.
    You're too stupid to actually see how stupid you’re acting and to add insult to your own injury, you’re letting everyone on this board know once again that you’re a broke little toad, full of resentment and anger and little else.

  3. #28
    Thailand Expat AntRobertson's Avatar
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    Quote Originally Posted by Slick View Post
    You're too stupid to actually see how stupid you’re acting and to add insult to your own injury, you’re letting everyone on this board know once again that you’re a broke little toad, full of resentment and anger and little else.
    Awww bless, remember when Slick was on the forum back in the day asking for employment advice.

    Now look at 'em! Telling himself he's richer than someone else on the IntraGoogles.

    They grow so quickly!


  4. #29
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    Quote Originally Posted by Slick View Post
    You're too stupid to actually see how stupid you’re acting
    No dummy what is stupid is you trying to educate me on the difference between wealth and income when in the past on this forum you have shown through your posts that you do not understand the difference between the nations deficit and its debt.

    Anyone that has bought stocks or had stock options, or inherited wealth understands the difference. The fact is that you didn't even read the article.

  5. #30
    Thailand Expat Slick's Avatar
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    Quote Originally Posted by bsnub View Post
    Anyone that has bought stocks or had stock options, or inherited wealth understands the difference.
    Odd statement considering you can not grasp that you pay taxes on income and that the tax code most everywhere is based on income.

  6. #31
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    Quote Originally Posted by Slick View Post
    Odd statement considering you can not grasp that you pay taxes on income and that the tax code most everywhere is based on income.
    Oh, my fucking god, you are an idiot.

    I can not grasp that you pay taxes on income? It is fucking called an income tax you buffoon.

    The point of the article is that individuals can grow massive amounts of wealth that goes untaxed under the current system. It is about concentrated new wealth that goes untaxed.

  7. #32
    Thailand Expat Slick's Avatar
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    Quote Originally Posted by bsnub View Post
    The point of the article is that individuals can grow massive amounts of wealth that goes untaxed under the current system. It is about concentrated new wealth that goes untaxed.
    The point of the article was to take the tax code and peoples wealth and spin it into something completely made-up using stolen federal documents and private information in order to capitalize on the illogical anger a tiny minority of financially illiterate sheep have against “the wealthy”.

    Just like you.

  8. #33
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    Quote Originally Posted by Slick View Post
    The point of the article was to take the tax code and peoples wealth and spin it into something completely made-up using stolen federal documents and private information in order to capitalize on the illogical anger a tiny minority of financially illiterate sheep have against “the wealthy”.
    You are one of the biggest idiots on TD. I was granted more stock options in one year than your entire 401K dummy and I also know the difference between the debt and the deficit, something you have in past posts proven that you have trouble grasping.

    Like I said dummy you did not read the article or are just to epically stupid to understand it.

  9. #34
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    Since someone on here is too dense to understand what this is all about...

    Elizabeth Warren Renews Wealth Tax Call After Report That America's Richest Pay Little in Taxes

    Democratic Senator Elizabeth Warren supported taxing the wealth of the richest Americans—not just their income—after a report was released on America's wealthiest people, the Associated Press reported.The findings by the nonprofit investigative journalism organization ProPublica illustrated that billionaires are able to shrink their income tax to nothing or close to it—strategies that have prompted Warren and fellow progressive Senator Bernie Sanders to speak out about it.

    Warren tweeted on Tuesday: "Our tax system is rigged for billionaires who don't make their fortunes through income, like working families do. The evidence is abundantly clear: it is time for a #WealthTax in America to make the ultra-rich finally pay their fair share."

    Amazon founder Jeff Bezos paid no income tax in 2007 and 2011. Tesla founder Elon Musk's income tax bill was zero in 2018. And financier George Soros went three straight years without paying federal income tax, according to ProPublica.

    Overall, the richest 25 Americans pay less in tax — an average of 15.8% of adjusted gross income — than many ordinary workers do, once you include taxes for Social Security and Medicare, ProPublica found. Its findings are likely to heighten a national debate over the vast and widening inequality between the very wealthiest Americans and everyone else.

    An anonymous source delivered to ProPublica reams of Internal Revenue Service data on the country's wealthiest people, including Warren Buffett, Bill Gates, Rupert Murdoch and Mark Zuckerberg. ProPublica compared the tax data it received with information available from other sources. It reported that "in every instance we were able to check — involving tax filings by more than 50 separate people — the details provided to ProPublica matched the information from other sources.''

    A spokesman for Soros, who has supported higher taxes on the rich, told ProPublica that the billionaire had lost money on his investments from 2016 to 2018 and so did not owe federal income tax for those years. Musk responded to ProPublica's initial request for comment with a punctuation mark — "?'' — and did not answer detailed follow-up questions.

    The federal tax code is meant to be progressive — that is, the rich pay a steadily higher tax rate on their income as it rises. And ProPublica found, in fact, that people earning between $2 million and $5 million a year paid an average of 27.5%, the highest of any group of taxpayers.

    Above $5 million in income, though, tax rates fell: The top .001% of taxpayers — 1,400 people who reported income above $69 million — paid 23%. And the 25 very richest people paid still less.
    The wealthy can reduce their tax bills through the use of charitable donations or by avoiding wage income (which can be taxed at up to 37%) and benefiting instead mainly from investment income (usually taxed at 20%).

    President Joe Biden, in seeking revenue to finance his spending plans, has proposed higher taxes on the wealthy. Biden wants to raise the top tax rate to 39.6% for people earning $400,000 a year or more in taxable income, estimated to be fewer than 2% of U.S. households. The top tax rate that workers pay on salaries and wages now is 37%.

    Biden is proposing to nearly double the tax rate that high-earning Americans pay on profits from stocks and other investments. In addition, under his proposals, inherited capital gains would no longer be tax-free.

    The president, whose proposals must be approved by Congress, would also raise taxes on corporations, which would affect wealthy investors who own corporate stocks.

    ProPublica reported that the tax bills of the rich are especially low when compared with their soaring wealth — the value of their investment portfolios, real estate and other assets. People don't have to pay tax on an increase in their wealth until they cash in and, say, sell their stock or home and realize the gains. Using calculations by Forbes magazine, ProPublica noted that the wealth of the 25 richest Americans collectively jumped by $401 billion from 2014 to 2018. They paid $13.6 billion in federal income taxes over those years — equal to just 3.4% of the increase in their wealth.

    Chuck Marr, a senior director at the left-leaning Center on Budget and Policy Priorities, suggested that Biden's proposals, which face fierce opposition from Republicans in Congress and from businesses, are "modest" given how much the wealthy have benefited in recent years and how comparatively little tax many of them pay.

    "It always seems like the solutions are cast as radical when there's less focus on the current situation being radical,'' Marr said.

    Gabriel Zucman, an economist at the University of California, Berkeley, who is a leading expert on financial inequality, says there are three ways to ensure that the wealthy pay more: Impose a direct tax on their wealth like the one Warren has proposed; tax the gains in their wealth, whether or not they cash in and realize a gain; or raise taxes on corporate profits.

    ProPublica's data "reveals that the country's wealthiest, who have profited immensely during the pandemic, have not been paying their fair share of taxes," Sen. Ron Wyden, D-Ore., who leads the tax-writing Senate Finance Committee, said at the start of a hearing Tuesday on the IRS' budget with Commissioner Charles Rettig.

    Wyden has proposed legislation that would tighten enforcement of tax collection against wealthy individuals and corporations that use artifices and loopholes to skirt paying taxes. It also would eliminate the ability of high earners to defer paying taxes on capital gains until they are realized, so that wealth would be taxed the same way as wages.

    For his part, Rettig said that the IRS is investigating the leak of the tax data to ProPublica and that any violations of law would be prosecuted. (ProPublica reported that it doesn't know the identity of the source who provided the data.)
    "We will find out about the ProPublica article," Rettig said. "We have turned it over to the appropriate investigators, both external and internal."

    Now controlling the White House and Congress, Democrats are focusing on the tax gap — the hundreds of billions of dollars' difference between what Americans owe the government in taxes and what they pay — and its connection to economic inequality. The top 10% of earners have accounted for most of that gap, experts say, by underreporting their liabilities, intentionally or not, as tax avoidance or as outright evasion.

    The tax gap is under a spotlight as a potential source for recouping some revenue to help pay for Biden's proposed spending on infrastructure, families and education. Democrats have been pushing the IRS to invigorate its enforcement of tax collection and make it fairer, by pursuing the big corporations and wealthy individuals who manage to game the system.
    At Tuesday's hearing, Wyden told Rettig that it's wrong "how the wealthy always seem to skip out on their obligations."

    "You have a better chance of being struck by lightning than being audited if you're a partner in a partnership," Wyden said.

    Rettig responded, "We are outgunned."

    Democrats have argued that the tax gap has widened mainly because big U.S. corporations have parked revenue overseas and wealthy individuals have failed to pay their fair share. They assert that the IRS, long understaffed and underfunded, has tended to pursue taxpayers of modest means more aggressively than high-powered businesspeople and corporations.

    The agency's funding has been slashed about 20% since 2010. Biden's new spending proposals include an extra $80 billion over 10 years to bolster IRS audits of upper-income individuals and corporations, with an eye toward recovering an estimated $700 billion.

    Much of the gap comes from the use of overseas havens. The government loses between an estimated $40 billion and $120 billion a year from offshore tax evasion. Biden's tax plan includes measures to stop corporations from stashing profits in countries with low tax rates. Last weekend, the Group of Seven wealthy democracies, which includes the United States, agreed to support a global minimum corporate tax of at least 15% to deter multinational companies from avoiding taxes by stashing profits in low-rate countries.

    https://www.newsweek.com/elizabeth-w...-taxes-1598752

  10. #35
    Thailand Expat Slick's Avatar
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    Quote Originally Posted by bsnub View Post
    I was granted more stock options in one year than your entire 401K dummy



    Be interested to hear what you did with those stock options.

  11. #36
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    Quote Originally Posted by Slick View Post
    Be interested to hear what you did with those stock options.
    I am sure a low rung ditch digger like you would. I already shared too much. Did you graduate high school?

  12. #37
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    Biden ran as a moderate — pulled the rug over the eyes of independents who vote for both republicans and democrats (like me).

    Now, he's ruling like a left-winger.

    High taxes and high spending sounds good to the average joe as they get more goodies from the government while "taxing the rich and corporations" seems like a good thing.

    The problem is that it's the rich (and upper-middle-class who own small companies) and corporations who create jobs. If taxes (and regulations) go too high, the rich will be discouraged from investing which is not good for the economy overall and not good for the average joe who is looking for a job.

  13. #38
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    Quote Originally Posted by Samuel View Post
    The problem is that it's the rich (and upper-middle-class who own small companies) and corporations who create jobs.
    ...died-in-the-wool Republican purveyor of failed drip-down economics...keep your bucket ready for that drip, FaRT...

  14. #39
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    Quote Originally Posted by tomcat View Post
    ...died-in-the-wool Republican purveyor of failed drip-down economics...keep your bucket ready for that drip, FaRT...
    In your life, have you ever been the owner of a company that gave jobs to people?

    It's easy to be in favor of high taxes/spending/regulations on business when you don't know how difficult it is to run a business.


    Having Biden come into office talking about telling you about how to run your business (more regulations) and talking about raising taxes on your business or if you're a small business owner (your income tax), do you really think that will be good for jobs and the economy?


    Biden should stick to things the democrats are popular for — supporting social issues (the woke crowd will love that), renewable energy, education (should move to support charter schools in the ghettos), abortion rights, gun control, health care

    while helping the economy get back to how great it was under trump before the wuhan virus was let out of China.

  15. #40
    Thailand Expat Slick's Avatar
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    Quote Originally Posted by tomcat View Post
    ...died-in-the-wool Republican purveyor of failed drip-down economics...
    Well, Amazon, Tesla, SpaceX, etc DID create a shitload of decent jobs did they not?

  16. #41
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    Quote Originally Posted by Slick View Post
    Well, Amazon, Tesla, SpaceX, etc DID create a shitload of decent jobs did they not?
    So, didn't they care enough that enough revenue will be provided by those "decent jobs"?

  17. #42
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    Don’t know about Tesla or SpaceX but Amazon gets no prizes for “decent jobs.”

  18. #43
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    Quote Originally Posted by misskit View Post
    Don’t know about Tesla or SpaceX but Amazon gets no prizes for “decent jobs.”
    900,000 employees and a starting wage of $15/hr puts it around the top of the list of entry level jobs with a decent amount of upward mobility.

    Dunno what else you can ask of a company.

    They do skirt providing benefits by hiring “seasonal” and part time employees, which is bullshit, but legal and allowed. Politicians should make this practice illegal but they don’t. Instead they choose to target Bezos and his “wealth”.

  19. #44
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    Quote Originally Posted by Slick View Post
    Politicians should make this practice illegal but they don’t. Instead they choose to target Bezos and his “wealth”.
    Except they don't target Bezos and his wealth, which is what this thread is about.

  20. #45
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    Not fucking "trickle down economics" and "wealth creator" bullshit again?

    Do these dumb fuckers not realise that this does not work?

  21. #46
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    Quote Originally Posted by Slick View Post
    you can not grasp that you pay taxes on income
    Quote Originally Posted by bsnub View Post
    It is fucking called an income tax
    Jaysus . . . Slick isn't the sharpest tool on here, is he


    Quote Originally Posted by Slick View Post
    Instead they choose to target Bezos and his “wealth”.
    Quote Originally Posted by pickel View Post
    Except they don't target Bezos and his wealth, which is what this thread is about.
    Glad you said it, saves me the effort

  22. #47
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    Quote Originally Posted by panama hat View Post
    Jaysus . . . Slick isn't the sharpest tool on here, is he
    He is a full stop idiot. If its on Fox News you can bank that the lemming is swallowing it.

    Quote Originally Posted by Samuel View Post
    while helping the economy get back to how great it was under trump before the wuhan virus was let out of China.
    Why must all you trumpanzees be such morons? Your orange god stumbled into the longest period of growth in American history, which started when Obama was president. 128 months of sustained growth that the orange moron had nothing to do with, in fact his policies killed it.
    Last edited by bsnub; 10-06-2021 at 06:14 AM.

  23. #48
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    I doubt it is a positive thing to introduce a wealth tax but the clown in chief and his dumb ass dumbocrat mates will try and get it through. Will that lead to the ultra rich moving their assets to alternate countries...we will have to wait and see.

  24. #49
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    Quote Originally Posted by Grumpy John View Post
    Will that lead to the ultra rich moving their assets to alternate countries...
    Ah, that old bugbear . . . No, 'they' won't. Haven't and won't.

  25. #50
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    Quote Originally Posted by Samuel View Post
    Biden ran as a moderate — pulled the rug over the eyes of independents who vote for both republicans and democrats (like me).

    Now, he's ruling like a left-winger.
    An ‘independent’ pushing the baseless Fox News / right wing propaganda of Biden being a socialist boogeyman.

    Yeah OK, sure, independent.

    High taxes and high spending sounds good to the average joe as they get more goodies from the government while "taxing the rich and corporations" seems like a good thing.

    The problem is that it's the rich (and upper-middle-class who own small companies) and corporations who create jobs. If taxes (and regulations) go too high, the rich will be discouraged from investing which is not good for the economy overall and not good for the average joe who is looking for a job.
    It’s reached the point where seeing people still pushing the disproven ‘trickle down’ theory is like encountering Flat Earthers.

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