Taxing the rich

oldiebutgoody said:
While people are complaining about getting over taxed, they forget that wealthy elites use foreign tax havens to shelter their resources. It is a fact that they have well over $30 trillion that go tax free. Reform the Tax Code and your annual tax bill will go downward considerably.
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You'll have to give us a link to support your assertion that there is $30 trillion in foreign tax havens.
Here's a link that says the total wealth of our Billionaires is about $4.1 trillion.

Billionaires

And, since about half of Americans don't pay any tax, how will their "tax bill go downward considerably"?
 

oldiebutgoody said:
While people are complaining about getting over taxed, they forget that wealthy elites use foreign tax havens to shelter their resources. It is a fact that they have well over $30 trillion that go tax free. Reform the Tax Code and your annual tax bill will go downward considerably.
Click to expand...
Yes, right you are.

In post #14, I posted a link on the Panama Papers (do check it out), it's a reminder of the two-tiered system that exists between the poor and the rich.

Nothing like knowing working class bottom feeders will continue to bare the brunt of taxation, while the elite shelter their wealth and enjoy the benefits of flying under the radar.

And, most insulting of all, according to the Panama Papers, it's too much work to go after them, so very little in the way of taxes will ever be recouped, but heaven forbid when the friendly neighbourhood barber doesn't claim enough clients throughout the year, or the hairdresser that runs a salon out of her home may have manipulated her tax filings to reflect less than she actually made. Heaven forbid.

As the bottom feeders that most of us are, heaven forbid we make an extra penny on something, Mr. Taxman is right there with their filthy dirty little hand out looking to take, take, take, but it's too much effort and expense to go after the elite. :mad:
 
  • Our infrastructure is crumbling and we're $30 trillion in debt.
  • We're one of the few advanced countries without highspeed rail (except for a few short routes).
  • We pay more for healthcare than any other advanced country.
  • We pay more for higher education than almost all advanced countries.
  • We spend more on defense than the next 10 countries combined.
Perhaps our priorities are screwed up.
 

Aunt Marg said:
Yes, right you are.

In post #14, I posted a link on the Panama Papers (do check it out), it's a reminder of the two-tiered system that exists between the poor and the rich.

Nothing like knowing working class bottom feeders will continue to bare the brunt of taxation, while the elite shelter their wealth and enjoy the benefits of flying under the radar.

And, most insulting of all, according to the Panama Papers, it's too much work to go after them, so very little in the way of taxes will ever be recouped, but heaven forbid when the friendly neighbourhood barber doesn't claim enough clients throughout the year, or the hairdresser that runs a salon out of her home may have manipulated her tax filings to reflect less than she actually made. Heaven forbid.

As the bottom feeders that most of us are, heaven forbid we make an extra penny on something, Mr. Taxman is right there with their filthy dirty little hand out looking to take, take, take, but it's too much effort and expense to go after the elite. :mad:
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This calls for a song...


It is admittedly awful on the ears, but it reflects some of the anger expressed here.

Tony
 
One of my thoughts on the very wealth has to do with who
put them in that "class" !! Us'ns that's who!!! We the lower
paid buy their products or serv ices at outrageous costs and
therefore make them and their stockholders rich...did you
ever see prices go down?? not likely....wondering if the moguls
marketed their products at less costs if they would sell MORE
and still get wealthy, but in the meantime make their products more accessible?? (i know I'm crazy).....o_O
 
Buckeye said:
Looks like some of you need to go back to school and take a course in Macro Economics 101, and learn about regressive taxes, flat taxes, and progressive taxes, etc. Want a flat tax? Great, but it will mean an increase in taxes for the 50% or so of Americans who currently pay zero fed tax. Want a national sales tax to replace income tax? Great, but sales taxes are known for being regressive, meaning poor people pay a larger % (not $$, percent) of their income because the folks with more money don't spend every last dime they get.

Here's some data to consider, or not if it will make you uncomfortable...

Taxes paid by the rich
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Taxes paid by the rich?

Maybe, but I don't for a second buy into the idea, because whatever the rich pay (over and above the poor), they end up making back (in spades... PLUS SOME) with other little dirty, slimy, backdoor deals and perks they qualify for throughout the year.

Taxation will be equal IMO when the rich are taxed to the point of them feeling the pain, feeling the pinch, seeing their bank accounts drop, and them having to retract on planned purchases, like we the poor have to endure, that's when taxation will reach a fair and just balance.
 
Buckeye said:
You'll have to give us a link to support your assertion that there is $30 trillion in foreign tax havens.
Here's a link that says the total wealth of our Billionaires is about $4.1 trillion.

Billionaires

And, since about half of Americans don't pay any tax, how will their "tax bill go downward considerably"?
Click to expand...



$30+ trillion: Super rich hold $32 trillion in offshore havens | Reuters

All that capital will create jobs which generate tax revenues. It will eliminate the national debt and may even cause the end of the income tax. Dissolve the military industrial complex and other forms of corporate welfare schemes as that would help immensely.
 
oldiebutgoody said:
$30+ trillion: Super rich hold $32 trillion in offshore havens | Reuters

All that capital will create jobs which generate tax revenues. It will eliminate the national debt and may even cause the end of the income tax. Dissolve the military industrial complex and other forms of corporate welfare schemes as that would help immensely.
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Would be a dream, however, with the 1% having their hands in the pockets of the most powerful people in the world, and the most powerful people in the world having their hands in the pockets of the 1%, we'll never see the day.
 

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