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Except of course, we don't pay tax on wealth, we pay taxes on income. In the last year of released data from the IRS, the Top 1% earned 21% of the income, and paid 38% of federal income taxes. The Bottom 50% earned 11% of the income, and paid 3% of federal income taxes.
We pay tax on more than income. That's the point. Don't be misleading, and look at net tax burdens. Measure fairness as that net tax burden as a % of wealth. With that metric, the ultra wealthy pay far less than their fair share.
Well done Elon Musk. I never understood why the left loves electric vehicles but attacks the very man who helped to make them more acceptable.
I hope to see more pioneers openly mocking politicians attacking them for cheap political points.
Well first, they are common leftists, the salt of the left-wing base. You know-morons.
In all honesty, you're right. If you believe that human-caused CO2 emissions is destroying the planet-Elon Musk has done the most of any person on earth to counter it. And he did so without government mandates, without forcing people to pay "carbon taxes" (yes, the company has received carbon credit payments-but that was a system mandates by ignorant fools like Al Gore). He saw what he perceived as a problem, and used the free market to correct it-by actually developing a desirable product that people actually want to buy. Not because they are mandated to do so, but because they are pretty darned cool cars. I'm considering a Tesla for my next vehicle (probably Cybertruck), not because of any save the world BS or political statement, but because I really like the feature set they offer, as well as the low cost of operation.
Lets face it though-the left aren't very bright and harbor a lot of hatred and bigotry. In spite of doing more than anyone on earth to counter climate change-Elon has committed several unforgivable sins. He's white. He has earned money and become rich by actually working his butt off and building a business. Oh-and he's male. And perhaps even more, he doesn't apologize for his success and doesn't pander to weak-minded politicians, like most business executives these days.
We pay tax on more than income. That's the point. Don't be misleading, and look at net tax burdens. Measure fairness as that net tax burden as a % of wealth. With that metric, the ultra wealthy pay far less than their fair share.
Why is it so hard to grasp the concept that wealth has zero to do with "fairness". The federal income tax is by far the largest supplier of revenue to the federal government. It is highly progress. The payroll tax appears regressive because it is capped at a certain level, but then so are the benefits, but if you look at the overall effect of what Social Security, Medicare, and unemployment insurance provide to the bottom 50%, the benefits they provide relative to the taxes they collect, those programs are progressive too.
Why is it so hard to grasp the concept that wealth has zero to do with "fairness". The federal income tax is by far the largest supplier of revenue to the federal government. It is highly progress. The payroll tax appears regressive because it is capped at a certain level, but then so are the benefits, but if you look at the overall effect of what Social Security, Medicare, and unemployment insurance provide to the bottom 50%, the benefits they provide relative to the taxes they collect, those programs are progressive too.
Fairness is only logical to measure in terms of net tax revenue as a percentage of wealth.
Fairness is only logical to measure in terms of net tax revenue as a percentage of wealth.
We can agree to disagree on that.
No it isn't. That is completely illogical as we don't tax "wealth". Neither do the cradle to grave welfare benefit providing social democracies of Europe. They have a 20%+ VAT paid by all and significantly less progressive income taxes than the US Almost no country taxes "wealth".
Well done Elon Musk. I never understood why the left loves electric vehicles but attacks the very man who helped to make them more acceptable.
I hope to see more pioneers openly mocking politicians attacking them for cheap political points.
You never understood because you seem to think ALL people with left-leaning politics think and do the same on all issues. Did it ever occur to you that all people are different? Duh!
Well, 13 months in combat in 'Nam and a life-long disability to show for it for starters You? But yeah. Musk has done more. Let's give him more ways to not pay taxes.
Thank you for your service. My dad was wounded in that war.
We don't need rockets for wealthy people to take joyrides to space. We need more small businesses with better jobs for the lower and middle class, to drive an economy for people other than the ultra-wealthy. That's my point.
The wealthy can do whatever they want with their money…and many small businesses went out of business due to “shutting it down” which many folks begged for over the last 2 years.
We don't need rockets for wealthy people to take joyrides to space. We need more small businesses with better jobs for the lower and middle class, to drive an economy for people other than the ultra-wealthy. That's my point.
Who is this "we"? I don't recall the rich people are slaves to the "we." It's their money and they can spend it anyway they fit.
I don't think this "we" tell you how you spend your money, right?
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