Tax the rich??
The combined wealth of all the billionaires in the USA is about 7 trillion dollars. Most of that money is in hard assets such as real estate or invested in companies such as Walmart, Microsoft, Apple, Etc.
Often we hear Hillary and other democrats talk about taxing the rich. So far this country does not tax wealth but only taxes income. That means that the 7 trillion dollars that these billionaires have is not taxable and probably never will be. If it was it would be a disaster for the country. If this money were ever taken by the government every major business in the USA would cease to exist and all the jobs that go with them. Think about that. At present the federal budget is about 4 trillion dollars. In less than 2 years the Gov. would hand out this money and if the past is any indication we would have nothing to show for it. As many of you more informed people know the rich really never pay any tax because their source of money is the consumer. The Democrats assume that we are stupid enough to fall for this crap because a lot of us are. There is a reason this stuff is not taught in school. It is interesting to note that Bill Gates, Warren Buffet, Google, Mark Zuckerberg and many of the richest people in the world are big Democrat contributors. Go figure. Democrats have two lines. Tax the rich and Racism. They promote racism. You can't be a Democrat politician unless you are a liar. Tax the rich is as big a lie as there is.
Often we hear Hillary and other democrats talk about taxing the rich. So far this country does not tax wealth but only taxes income. That means that the 7 trillion dollars that these billionaires have is not taxable and probably never will be. If it was it would be a disaster for the country. If this money were ever taken by the government every major business in the USA would cease to exist and all the jobs that go with them. Think about that. At present the federal budget is about 4 trillion dollars. In less than 2 years the Gov. would hand out this money and if the past is any indication we would have nothing to show for it. As many of you more informed people know the rich really never pay any tax because their source of money is the consumer. The Democrats assume that we are stupid enough to fall for this crap because a lot of us are. There is a reason this stuff is not taught in school. It is interesting to note that Bill Gates, Warren Buffet, Google, Mark Zuckerberg and many of the richest people in the world are big Democrat contributors. Go figure. Democrats have two lines. Tax the rich and Racism. They promote racism. You can't be a Democrat politician unless you are a liar. Tax the rich is as big a lie as there is.
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All part of the Cloward-Piven scheme, inspired by Saul Alinsky.
Create envy between different classes of the populace.0 -
The problem with the "Tax the Rich" concept- you and I are included in their definition of the Rich.
Meaning you work and are not on welfare. Must be rich.0 -
The tax the rich gang think that there is a fixed amount of wealth in the world.
They will never accept that more wealth can be created.0 -
Survey Congressmen as to their average income. Anyone who makes 50% of that figure or less pays no taxes. Anyone who makes 50-100% of that figure pays 33%. Anyone who makes more than the average Congressman pays 50%. 0 -
Any one making over $124,873.98 before deductions should have 100% of the overage confiscated by the federal government. Government NEEDS the money to make Ameirka fair.
Screw the green font.0 -
Any one making over $124,873.98 before deductions should have 100% of the overage confiscated by the federal government. Government NEEDS the money to make Ameirka fair.
Screw the green font.0 -
It is very possible to make $125,000.00 before deductions and never have a dime for yourself. this is one of the stupidest statements I have ever heard.
For example, let us say I make a product and sell it for $100.00. The material to make it cost $25.00. The tools that I must have to make it cost $10.00. I spent $10.00 for electricity to run my tools. This doesn't count any other expense I have and there is more. As of now my potential profit is $55.00.
Now enters the government who needs the money to give to my illegal neighbor who will vote for a certain party that opposes me, or my neighbor who is trying to sell cocaine to my kids.
The Fed tax rate is 15%. The state tax rate is 11%. My business license and permits we will not count. Since I am self-employed the SS tax is 15%. The total withholding is 41%. $55.00 less- 41% or $22.55 = $32.45 profit- but that is not the end. Every single thing you buy is taxed at some level as many as 4 or 5 times. Gas, phone, electricity, water, sewer, business licenses, permits, tires, name anything and it is taxed.
Even if you comply with all the laws you may still be made out to be some sort of greedy evil person because you made money as Trump is today. They are even making him out to be evil because he lost money and deducted it as allowed by the laws that the accusers themselves made. They will succeed because 40% of the American people are so stupid and the system is designed to keep them stupid.0 -
quote:Originally posted by bpost
Any one making over $124,873.98 before deductions should have 100% of the overage confiscated by the federal government. Government NEEDS the money to make Ameirka fair.
Screw the green font.
If this were to become reality, there wouldn't be a job left in this country0 -
quote:Originally posted by jerrywh818
It is very possible to make $125,000.00 before deductions and never have a dime for yourself. this is one of the stupidest statements I have ever heard.
For example, let us say I make a product and sell it for $100.00. The material to make it cost $25.00. The tools that I must have to make it cost $10.00. I spent $10.00 for electricity to run my tools. This doesn't count any other expense I have and there is more. As of now my potential profit is $55.00.
Now enters the government who needs the money to give to my illegal neighbor who will vote for a certain party that opposes me, or my neighbor who is trying to sell cocaine to my kids.
The Fed tax rate is 15%. The state tax rate is 11%. My business license and permits we will not count. Since I am self-employed the SS tax is 15%. The total withholding is 41%. $55.00 less- 41% or $22.55 = $32.45 profit- but that is not the end. Every single thing you buy is taxed at some level as many as 4 or 5 times. Gas, phone, electricity, water, sewer, business licenses, permits, tires, name anything and it is taxed.
Even if you comply with all the laws you may still be made out to be some sort of greedy evil person because you made money as Trump is today. They are even making him out to be evil because he lost money and deducted it as allowed by the laws that the accusers themselves made. They will succeed because 40% of the American people are so stupid and the system is designed to keep them stupid.
Exactly. I believe someone stated it earlier - if you work and earn a pay check (or capital gains, or company profits, or whatever) you are "the rich."0
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