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The rich are untaxable

S

solletica

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Bernie Sanders keeps going on about how he intends to make the rich pay their fair share of taxes in order to fund his ambitious programs.

However, there really is no way to increase taxes on the rich in the USA.

Leaving aside the well-known fact that the very rich write the nation's tax laws themselves (via lobbying) to make them favorable to them (thereby rendering Bernie's campaign promise inert), the vast majority of income made by these individuals cannot be tracked by the US govt.--this income and the wealth resulting from it is simply hidden away in offshore accounts and holding companies that effectively shield the identities of those account holders form the US govt.

Hence, any attempt to increase taxes on the rich will ultimately end up just increases taxes on the upper-middle class of Americans (or possibly even the middle class, i. e. those making anywhere from $75K - $250K yr.) .

As it stands right now, the bulk of all taxes are paid by the middle and poor classes of Americans, and those groups also pay a substantially higher pct. of their income in taxes than the top earners in the US.

So Bernie's plan would just make it even worse for the poor and middle classes.

The only way to make the tax system more equitable is to cut taxes on the poor and then cut federal spending (including non-defense related military spending) accordingly.
 
Bernie Sanders is a lunatic and a liar. And a 'social democrat' is a capitalist and their job is to prevent socialism. Few surplus capitalists will be losing sleep over Bernie Sanders. Bernie Sanders supporters are complete morons and they probably deserve to starve to death or drive an uber car or become a sugarbaby.

What could be done is make it illegal for an US citizen to keep money outside of the USA and put people in jail that break the law. All US citizens should have to prove where their wealth comes from and if they cannot then they should have wealth confiscated. So US needs to create your own Domesday Book so you know the exact wealth of every citizen. Then it will be easy to identify unexplained wealth.

The US government could regulate profit margins in the name of consumer rights and also do things like force companies and individuals to reinvest a percentage of profits back into the national US economy within a certain period to prevent capital flight. There is a lot that can be done.

Your idea to collect no taxes and cut government spending is idiotic.
 
solletica said:
Bernie Sanders keeps going on about how he intends to make the rich pay their fair share of taxes in order to fund his ambitious programs.

However, there really is no way to increase taxes on the rich in the USA.

Leaving aside the well-known fact that the very rich write the nation's tax laws themselves (via lobbying) to make them favorable to them (thereby rendering Bernie's campaign promise inert), the vast majority of income made by these individuals cannot be tracked by the US govt.--this income and the wealth resulting from it is simply hidden away in offshore accounts and holding companies that effectively shield the identities of those account holders form the US govt.

Hence, any attempt to increase taxes on the rich will ultimately end up just increases taxes on the upper-middle class of Americans (or possibly even the middle class, i. e. those making anywhere from $75K - $250K yr.) .

As it stands right now, the bulk of all taxes are paid by the middle and poor classes of Americans, and those groups also pay a substantially higher pct. of their income in taxes than the top earners in the US.

So Bernie's plan would just make it even worse for the poor and middle classes.

The only way to make the tax system more equitable is to cut taxes on the poor and then cut federal spending (including non-defense related military spending) accordingly.
Click to expand...

Anyway - US is bankrupt. With National Debt and Unfunded Liabilities the US government is headed for default before too long. Soon you wont be able to pay the interest on your debts. Then you will all be screwed.
 
Well, we do live in a capitalist society...
 
solletica said:
Bernie Sanders keeps going on about how he intends to make the rich pay their fair share of taxes in order to fund his ambitious programs.

However, there really is no way to increase taxes on the rich in the USA.

Leaving aside the well-known fact that the very rich write the nation's tax laws themselves (via lobbying) to make them favorable to them (thereby rendering Bernie's campaign promise inert), the vast majority of income made by these individuals cannot be tracked by the US govt.--this income and the wealth resulting from it is simply hidden away in offshore accounts and holding companies that effectively shield the identities of those account holders form the US govt.

Hence, any attempt to increase taxes on the rich will ultimately end up just increases taxes on the upper-middle class of Americans (or possibly even the middle class, i. e. those making anywhere from $75K - $250K yr.) .

As it stands right now, the bulk of all taxes are paid by the middle and poor classes of Americans, and those groups also pay a substantially higher pct. of their income in taxes than the top earners in the US.

So Bernie's plan would just make it even worse for the poor and middle classes.

The only way to make the tax system more equitable is to cut taxes on the poor and then cut federal spending (including non-defense related military spending) accordingly.
Click to expand...

President Obama raised taxes on the rich. After the Bush tax cuts expired, he made a deal with the House to lower the taxes for the low and middle class to Clinton levels while keeping >$400,000 at the same levels as the Bush tax cuts. (He should have held out for $1 million as $400,000 is still the middle class)

Also, not all rich people believe they shouldn't pay more taxes.
 
solletica said:
Bernie Sanders keeps going on about how he intends to make the rich pay their fair share of taxes in order to fund his ambitious programs.

However, there really is no way to increase taxes on the rich in the USA.

Leaving aside the well-known fact that the very rich write the nation's tax laws themselves (via lobbying) to make them favorable to them (thereby rendering Bernie's campaign promise inert), the vast majority of income made by these individuals cannot be tracked by the US govt.--this income and the wealth resulting from it is simply hidden away in offshore accounts and holding companies that effectively shield the identities of those account holders form the US govt.

Hence, any attempt to increase taxes on the rich will ultimately end up just increases taxes on the upper-middle class of Americans (or possibly even the middle class, i. e. those making anywhere from $75K - $250K yr.) .

As it stands right now, the bulk of all taxes are paid by the middle and poor classes of Americans, and those groups also pay a substantially higher pct. of their income in taxes than the top earners in the US.

So Bernie's plan would just make it even worse for the poor and middle classes.

The only way to make the tax system more equitable is to
cut taxes on the poor
Click to expand...
and then cut federal spending (including non-defense related military spending) accordingly.
Click to expand...



How do you cut taxes on someone who is paying nothing? What is less than zero?

Fill us in.

:lol:
 
shrubnose said:
How do you cut taxes on someone who is paying nothing? What is less than zero?

Fill us in.

:lol:
Click to expand...

many rich people pay whats called a negative tax rate, which means they pay nothing and the government sends them money
 
solletica said:
Bernie Sanders keeps going on about how he intends to make the rich pay their fair share of taxes in order to fund his ambitious programs.

However, there really is no way to increase taxes on the rich in the USA.

Leaving aside the well-known fact that the very rich write the nation's tax laws themselves (via lobbying) to make them favorable to them (thereby rendering Bernie's campaign promise inert), the vast majority of income made by these individuals cannot be tracked by the US govt.--this income and the wealth resulting from it is simply hidden away in offshore accounts and holding companies that effectively shield the identities of those account holders form the US govt.

Hence, any attempt to increase taxes on the rich will ultimately end up just increases taxes on the upper-middle class of Americans (or possibly even the middle class, i. e. those making anywhere from $75K - $250K yr.) .

As it stands right now, the bulk of all taxes are paid by the middle and poor classes of Americans, and those groups also pay a substantially higher pct. of their income in taxes than the top earners in the US.

So Bernie's plan would just make it even worse for the poor and middle classes.

The only way to make the tax system more equitable is to cut taxes on the poor and then cut federal spending (including non-defense related military spending) accordingly.
Click to expand...

Interesting logic with more twists than a mountain stream....

Your premise that you can not track the income of the exceptionally wealthy is just wrong. Though I agree that they have opportunities to offshore assets and earnings on assets, they still file tax returns with sufficient disclosure to know that the income of the uber-wealthy, which is mostly passive, is taxed at 20%. We also know that the 1% of the most wealthy own 35% of the assets.

We know enough to tax this group.

BTW.... wealth and income are different things.
 
shrubnose said:
How do you cut taxes on someone who is paying nothing? What is less than zero?

Fill us in.

:lol:
Click to expand...

Earned Income Credit and refundable child tax credits.
 
solletica said:
Bernie Sanders keeps going on about how he intends to make the rich pay their fair share of taxes in order to fund his ambitious programs.

However, there really is no way to increase taxes on the rich in the USA.

Leaving aside the well-known fact that the very rich write the nation's tax laws themselves (via lobbying) to make them favorable to them (thereby rendering Bernie's campaign promise inert), the vast majority of income made by these individuals cannot be tracked by the US govt.--this income and the wealth resulting from it is simply hidden away in offshore accounts and holding companies that effectively shield the identities of those account holders form the US govt.

Hence, any attempt to increase taxes on the rich will ultimately end up just increases taxes on the upper-middle class of Americans (or possibly even the middle class, i. e. those making anywhere from $75K - $250K yr.) .

As it stands right now, the bulk of all taxes are paid by the middle and poor classes of Americans, and those groups also pay a substantially higher pct. of their income in taxes than the top earners in the US.

So Bernie's plan would just make it even worse for the poor and middle classes.

The only way to make the tax system more equitable is to cut taxes on the poor and then cut federal spending (including non-defense related military spending) accordingly.
Click to expand...

I disagree. One way to deal with the problem is to be rid of those lobbyists who write the tax codes to benefit the very rich at the expense of everyone else. This is blatant inequality that must be stopped.
Simple huh?
 
upsideguy said:
Interesting logic with more twists than a mountain stream....

Your premise that you can not track the income of the exceptionally wealthy is just wrong. Though I agree that they have opportunities to offshore assets and earnings on assets, they still file tax returns with sufficient disclosure to know that the income of the uber-wealthy, which is mostly passive, is taxed at 20%. We also know that the 1% of the most wealthy own 35% of the assets.

We know enough to tax this group.

BTW.... wealth and income are different things.
Click to expand...

Tax them for what?
 
Renae said:
Call me when a poor man employes you.
Click to expand...

what kind of logic is that? rich people are good because they are rich no questions asked? i tell you what since you think money is all that matters why don't you start whoring
 
dimensionallava said:
what kind of logic is that? rich people are good because they are rich no questions asked? i tell you what since you think money is all that matters why don't you start whoring
Click to expand...

You love you some strawmen dont you?
 
solletica said:
As it stands right now, the bulk of all taxes are paid by the middle and poor classes of Americans,
Click to expand...

Exactly the opposite is true. The top 10% of income earners pay about 70% of federal taxes. The bottom 47% pay virtually nothing.
 
I never cease to be amazed how average working people are brainwashed to become toadies for the very wealthy swallowing their propaganda and then parroting their pronouncements like they are gospel.
 
Renae said:
Call me when a poor man employes you.
Click to expand...

Bill Gates and Paul Allen were not rich yet when they employed hundreds of people, they borrowed the money. Capitalism at work. ;)
 
pbrauer said:
Bill Gates and Paul Allen were not rich yet when they employed hundreds of people, they borrowed the money. Capitalism at work. ;)
Click to expand...

Yeah... you are... silly
 
upsideguy said:
Interesting logic with more twists than a mountain stream....

Your premise that you can not track the income of the exceptionally wealthy is just wrong. Though I agree that they have opportunities to offshore assets and earnings on assets, they still file tax returns with sufficient disclosure to know that the income of the uber-wealthy, which is mostly passive, is taxed at 20%. We also know that the 1% of the most wealthy own 35% of the assets.

We know enough to tax this group.

BTW.... wealth and income are different things.
Click to expand...

Actually, it is not at all difficult to track the income of most people who make more than $250k/yr because their income is usually wages, compensation and unearned income on capital gains. It is only difficult to track income when it comes from illegal activity (for the obvious reasons) or is made by multinational corps who can manipulate their books to shift costs and profits overseas
 
solletica said:
Bernie Sanders keeps going on about how he intends to make the rich pay their fair share of taxes in order to fund his ambitious programs.

However, there really is no way to increase taxes on the rich in the USA.
Click to expand...

you can however based on what we know it doesn't really do any good.

Leaving aside the well-known fact that the very rich write the nation's tax laws themselves (via lobbying) to make them favorable to them (thereby rendering Bernie's campaign promise inert), the vast majority of income made by these individuals cannot be tracked by the US govt.--this income and the wealth resulting from it is simply hidden away in offshore accounts and holding companies that effectively shield the identities of those account holders form the US govt.
Click to expand...

nope the rich pay income tax on all money made in the US. what you describe is money laundering and tax evasion. which is illegal and a federal felony.
any money that is made outside of the US is not subject to tax.

Hence, any attempt to increase taxes on the rich will ultimately end up just increases taxes on the upper-middle class of Americans (or possibly even the middle class, i. e. those making anywhere from $75K - $250K yr.) .
Click to expand...

which is why it is generally bad to raise taxes.

As it stands right now, the bulk of all taxes are paid by the middle and poor classes of Americans, and those groups also pay a substantially higher pct. of their income in taxes than the top earners in the US.
Click to expand...

this is 100% false. the top 1% pay about 37%. the top 20% pay about 75%.

So Bernie's plan would just make it even worse for the poor and middle classes.
Click to expand...
which is why we vote against tax and spend democrats.

The only way to make the tax system more equitable is to cut taxes on the poor and then cut federal spending (including non-defense related military spending) accordingly.
Click to expand...

you have to overhaul the tax code first and without major tax hikes on the so called wealthy there isn't a democrat that would vote for it.
 
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