the richest 25 Americans have an average tax rate of 15.8% (insurance, money, programs)

[paracord]

Originally Posted by Bettafish

We are talking about tax rate here.
For middle class people, the rate actually increases with your income level.

Nice bumper sticker.

The tax rate goes up as your income (W2 income at least) goes up.

Jeff Bezos doesn't have W2 income, likely.

Is this another one of those "woe is me, I pay more than Jeff Bezos in taxes" threads?

[paracord]

Originally Posted by Bettafish

I made some profits from my stocks last year and paid the tax.
Short-term capital gains are the same as income.

They aren't taxed the same. There needs to be an incentive to take a financial risk.

[SanJuanStar]

Originally Posted by FatBob96

Again, there is no valid reason why my rate should be any different than yours....no matter how much either of us makes.

it should be different because is not the same in dollars.


if you make 30k and I make 5 million, then your tax rate at 30% is a lot lower in actual dollars than my 20%. It should be different with a cap that the government won't take more than an amount.


if you want to be the same for everybody then have a flat tax rate but that would require all the tax credits and deductions to be taken away for the middle class.

[Bettafish]

Originally Posted by paracord

Is this another one of those "woe is me, I pay more than Jeff Bezos in taxes" threads?

No, but it's headline news now so obviously many knowledgeable people are thinking about it.
And yes, I paid more "income taxes" than Bezos in those years. Hope you did too.

[paracord]

Originally Posted by Bettafish

How much wealth and fame has he already enjoyed because he "created jobs"?

Huh? Where did "fame" come in?

Why can't you answer a simple question?

[DorianRo]

The Rich rewrite laws to only benefit themselves. No shock there.

[Bettafish]

Originally Posted by paracord

They aren't taxed the same. There needs to be an incentive to take a financial risk.

Short-term capital gains are taxed just like your ordinary income. That is 100% true.

[paracord]

Originally Posted by Bettafish

No, but it's headline news now so obviously many knowledgeable people are thinking about it.
And yes, I paid more "income taxes" than Bezos in those years. Hope you did too.

Okay and you probably have more taxable W2 income than even Jeff Bezos has!

Do you understand the difference?

[Bettafish]

Originally Posted by paracord

Huh? Where did "fame" come in?

Why can't you answer a simple question?

I answered already. You confused his achievements with his responsibilities.
He created jobs so he became rich and famous, fine, but that does not mean he should pay a lower rate of taxes.

[paracord]

Originally Posted by Bettafish

Short-term capital gains are taxed just like your ordinary income. That is 100% true.

So then what are you complaining about?