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why should you pay a tax that was already tax as an income tax while you made it, if there going be a 2% tax then tax everybody 2% even the minimum wages hamburger pusher
I guess if you have over $50 million you would be upset if you are greedy and don't think the rich should pay taxes.
Why should they pay additional taxes simply because they have money? Double taxation mean anything to you? Or because they are rich and can “ afford it” means it’s ok?
They should pay taxes on the income earned from that money.
Why should they pay additional taxes simply because they have money? Double taxation mean anything to you? Or because they are rich and can “ afford it” means it’s ok?
They should pay taxes on the income earned from that money.
IF they paid even 30% on the billions they earned instead of zero we wouldn't need a wealth tax.
IF they paid even 30% on the billions they earned instead of zero we wouldn't need a wealth tax.
Most of those billions haven't been "earned" yet. They are stock options. When Bezos sells off $50 million in stock to build a mansion, he pays taxes on it.
Capital flight has occurred every time a wealth tax has been tried.
You are never going to become rich by taking from those already rich. Get over it not gonna happen.
But keep on scaremongering class warfare if you think it's working for you.
Where in the Constitution is double taxation prohibited?
We already have double taxation on income. You pay income tax to the federal government and to the state government. We were able to deduct state income taxes from federal before, but the new Republican tax plan put in last year limits your ability to do that. Hence, many Americans are now getting double taxation on their income.
Even before that, you could get double taxation on income if you lived overseas, and your income was above $70,000.
With what you call double taxation, we actually have triple or quadruple taxation. The State Income Tax, the City or County Income Tax, and in some cases a more localized Income Tax as a percentage of the State tax. Does the city or county let you deduct your state taxes, or the state let you deduct your local taxes? Probably not, because the localized taxes are for localized benefits that only those local residents benefit from. So why should the federal government allow you to deduct your state and local taxes from their Federal taxes, when people in other states don't see any of the benefits from them?
Since most of the population has never paid more than $10,000 in state and local taxes, they were actually subsidizing high income earners who had the wherewithall to live in expensive homes in expensive neighborhoods, that in many cases, they would be locked out of even walking through, unless they were servants of those homeowners.
Last edited by Cruzincat; 10-25-2019 at 09:50 AM..
Some of you can keep fighting for Billionaires, and you can give them your vote too.
The three richest people have more wealth than 160 million other Americans. Those 160 million put every penny they have back into the economy on food clothing and shelter. If billionaires were forced to spend the money they make instead of hoarding it we would have a better economy.
Maybe you could force them to spend more in the form of investment, if the wealth tax only went after cash available, no matter where it is in the world. Do not touch hard assets like a business or home (RE taxes would still apply here). Those with a lot of cash on hand or in liquid monetary investments, could be taxed. This would entice those with the money to invest in businesses, or building rental properties etc, to shield their assets from taxes. This, in turn, would provide an economic growth that employs more people, and creates even more income tax revenue. Smarter people than me would figure out how to do something like this that will avoid the usual loopholes that CPA types can figure out to make rich people richer.
Maybe you could force them to spend more in the form of investment, if the wealth tax only went after cash available, no matter where it is in the world. Do not touch hard assets like a business or home (RE taxes would still apply here). Those with a lot of cash on hand or in liquid monetary investments, could be taxed. This would entice those with the money to invest in businesses, or building rental properties etc, to shield their assets from taxes. This, in turn, would provide an economic growth that employs more people, and creates even more income tax revenue. Smarter people than me would figure out how to do something like this that will avoid the usual loopholes that CPA types can figure out to make rich people richer.
Billionaires don't keep much cash on hand. And if they buy businesses and real estate around the world then USA property taxes don't apply. They are far more likely to invest more in businesses here under a leadership that is business-friendly than one that thinks everything should be funded by evil corporations.
Most of those billions haven't been "earned" yet. They are stock options. When Bezos sells off $50 million in stock to build a mansion, he pays taxes on it.
Capital flight has occurred every time a wealth tax has been tried.
You are never going to become rich by taking from those already rich. Get over it not gonna happen.
But keep on scaremongering class warfare if you think it's working for you.
I don't want to become rich from taking from the rich, I just want them to pay their fair share of taxes and have those taxes go into Universal Healthcare which will benefit all Americans and lead to lower costs. We already pay the most and have the least insured.
Billionaires don't keep much cash on hand. And if they buy businesses and real estate around the world then USA property taxes don't apply. They are far more likely to invest more in businesses here under a leadership that is business-friendly than one that thinks everything should be funded by evil corporations.
So you only think our politicians should be funded by evil corporations? and they should be the ones running the nation and not people elected by citizens?
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