Biden's don't pay income taxes, so why should we? (drug, regular, how much)
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Status:
"Smartened up and walked away!"
(set 26 days ago)
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Quote:
Originally Posted by stone26
I heard not paying taxes means you’re smart!
One thing to actually earn the money and use all the loopholes to avoid taxes - quite another to illegally obtain the money, not report it - another crime - and have the Feds look the other way.
If Republicans had balls - there would be lawsuits galore against Dems because we all know they're as dirty as their counterparts.
The Biden's took in at least $15M "selling the brand" overseas.
So, let's say you don't think they did anything illegal....
This thread is not to debate that
Tell me why I should pay my taxes, when they didn't pay taxes on any of the $15,000,000 in income?
You should pay your taxes so the IRS doesn't come after you. Not worth it! Don't compare yourself to someone who is scamming the system or having their taxes due ignored by the IRS.
None of the wealthy pay taxes. Funny how that works right ?? If you are due taxes - welcome to the peasant’s group.
The IRS and economists found in 2021 that the top 1% of earners don't report nearly a quarter of their income and that the top 0.1% of earners underreport at nearly twice that rate. The Treasury Department has found that the top 1% of American earners evade $163 billion in taxes annually, with the top .Oct 4, 2023
The methodology used for that $163 billion amount is highly suspect. [You should include your reference sources.]
The Treasury Department had to include exculpatory wording in their report.
"These estimates are based on imputations of undetected evasion using multipliers developed from earlier audit data. The advisability of so-called “detection-controlled estimation” (DCE) adjustments are debated in the literature, especially with respect to understanding the distribution of noncompliance."
Furthermore, the statistics used in the analysis overstate the tax rates paid by the bottom income groups and understates the percent of taxes paid by the upper income groups.
"Income tax after credits (the measure of “income taxes paid” above) does not account for the refundable portion of tax credits such as the Earned Income Tax Credit. If the refundable portion were included, the tax share of the top income groups would be higher and the average tax rate of bottom income groups would be lower. The refundable portion is classified as a spending program by the Office of Management and Budget (OMB) and therefore is not included by the IRS in these figures."
Well I suppose it depends on your definition of wealthy. You obviously don't know a lot of wealthy people. Most of the ones I know that are very well off, myself included, pay or have paid significant taxes. You do know that the top 1% pay the lion's share of income tax and nearly 50% of our population pays......NONE!
The wealthy I know from Miami would not be on a forum. They get a salary and invest, loan out their money or use their money as collateral, and they have their financial gurus to work it out for them. Most is business money, not personal income. I’m not a broker or high financial wizard, but I have been invited on some nice personal yachts in Las Olas. Different times. Never assume you know anyone’s experience in an anonymous forum.
None of the wealthy pay taxes. Funny how that works right ?? If you are due taxes - welcome to the peasant’s group.
The IRS and economists found in 2021 that the top 1% of earners don't report nearly a quarter of their income and that the top 0.1% of earners underreport at nearly twice that rate. The Treasury Department has found that the top 1% of American earners evade $163 billion in taxes annually, with the top .Oct 4, 2023
That's just not true. The top 10% of income earners pay 76% of all income taxes paid in the US.
There is a difference in evading taxes (as the Bidens and other criminals do from illegal sources of income) and seeking legal tax breaks/deductions.
I am what we call "beer and potato chips" rich. I am a "1%er", but pay A TON of taxes every year. I have an accountant prepare our taxes and we certainly try to find all the deductions we can get, but end up paying a lot. So I don't know where all these tax dodgers are at, but I (as well as everyone I know) pays A LOT every year.
Guys like Buffet and Gates have all of their income via investment income (thus taxed at a lower rate) and certainly have extensive business deductions (as well as charitable donation deductions). Also, a good deal of their "annual income" comes from trusts, which limits the amount of taxes they pay as well. So I think the ULTRA RICH pay (on a percentage basis) less than those who have actual W-2 income, but that is the way the tax laws are. Unfortunately, those making the laws are heavily influenced by those donating to their own campaigns (both sides of the aisle), so I don't see a strong incentive to eliminate such deductions anytime soon.
I have a farm and COULD do some "funny stuff" with deductions for farm operations. However, I am not fond of the prospect of jail, so I do not take advantage of all the deductions I could potentially get. Better to stay out of trouble.
The President and First Lady filed their income tax return jointly and reported federal adjusted gross income of $579,514. They paid $169,820 in combined federal, Delaware, and Virginia income taxes. And their 2022 effective federal income tax rate is 23.8 percent.
It says "regarding alleged financial transactions involving Hunter Biden" and doesn't Hunter already have tax issues he has to address. So why are we obsessed with a private citizen and his financial matters or is this just another attempt by Jordon to stay relevant seeing they have no case against the President....
Why are you worried about taxes you and the other supporters of the last President saw no problem when he (one of the richest businessmen in his words) paid almost no taxes, that was ok because he had business losses as people posted.
So, you are perfectly fine with the Biden family NOT paying taxes on $15,000,000 in undisputed income...we got your opinion noted.
Oh, & your attempted diversion from the Biden families failure to pay federal income taxes on $15M failed.
THE BIDEN FAMILY ARE PROVEN TAX CHEATS..bank records document the income, and no Biden is denying it. They are un-American.
The President and First Lady filed their income tax return jointly and reported federal adjusted gross income of $579,514. They paid $169,820 in combined federal, Delaware, and Virginia income taxes. And their 2022 effective federal income tax rate is 23.8 percent.
The Biden family are tax cheats and failed to pay ~$6,000,000 in federal income and payroll taxes on $15,000,000 worth of income they are NOT disputing.
Everyone posting here knows it, and cannot post any evidence otherwise...its known fact...the First family are crooks.
The Biden's took in at least $15M "selling the brand" overseas.
So, let's say you don't think they did anything illegal....
This thread is not to debate that
Tell me why I should pay my taxes, when they didn't pay taxes on any of the $15,000,000 in income?
The federal agencies knew of this income years ago, & still allowed the statute of limitation to run out on tax evasion charges.
The tax rate on the Biden's haul would be 37%, so they skated on $5,550,000 worth of federal taxes, plus state, FICA, medicare, & uninsurance payroll taxes which would easiy be another $500k, so $6,000,000 in all.
At the least, the Biden's should pay the $6,000,000 right now. They are not disputing the income. Agreed?
Why are you asking us this, that's a question only you can answer yourself, no need to ask us
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They are not denying the income.
