Juju
Amish Super ModelI think it’s funny that billionaires think paying $25,000 in taxes on your $100,000 income is fair, but paying $25,000,000 in taxes on your $100,000,000 isn’t fair.
Erma. Gerd! That only leaves me with $75 million! How am I supposed to survive on that?!?!
Gnorzaps@AmishSuperModel no crab legs for them
Darth Sandwich 🏳️🌈@AmishSuperModel There is a clever barrier in U.S. tax code that proves to be quite the challenge. Income from *labor* is taxed higher than other sources. So even a high paid doctor must fork over huge sums in taxes (rightly) but if you're a capitalist who doesn't sell their labor and your money does the work (investment) you pay a much lower rate (sometimes nothing). It's absurd and serves to maintain power with those that already have it.
Unabogie has voted Kamala!@darthsandwich @AmishSuperModel
Even worse, you can just take out loans using your wealth as collateral, and live forever tax free. People like Elon Musk haven't paid meaningful taxes in years.
Project 1789@darthsandwich @AmishSuperModel
I agree that the super rich game the system and a method should be found to tax them. Taxing unrealised gains probably ain't it unless you are going to tank all the successful startups that had share prices skyrocket for their founders. Musk paid 11b tax in 2021 so probably not the best example to cite.
Not sure of the answer. Maybe they can pay their tax with share transfers or something. Borrowings against shares should attract tax??
I agree that the super rich game the system and a method should be found to tax them. Taxing unrealised gains probably ain't it unless you are going to tank all the successful startups that had share prices skyrocket for their founders. Musk paid 11b tax in 2021 so probably not the best example to cite.
Not sure of the answer. Maybe they can pay their tax with share transfers or something. Borrowings against shares should attract tax??
Grassroots Joe@darthsandwich @AmishSuperModel
Artificially low marginal tax rates on unearned income is the biggest driver of wealth consolidation and inequality.
Cripes, the $ is unearned, it should (above a reasonable threshold) be taxed at *much* higher marginal rates than earned income!
Greg Stolze@AmishSuperModel You remember the Forbes flat tax model? Everyone paid the same percentage on income…
…from jobs, while income from stocks, bonds, dividends and other rich-guy stuff didn’t get taxed AT ALL.
trisweb@AmishSuperModel but it’s so much more money! Wouldn’t you be happy with just $5? It’s $5 more than you had before!
Dan Lang
This is Hell
CassandraVert@AmishSuperModel
And the current court case is about someone who thought it wasn't fair to pay $15,000 tax on $460,000 capital gain.
And the current court case is about someone who thought it wasn't fair to pay $15,000 tax on $460,000 capital gain.
Brosephine Wires@AmishSuperModel so weird huh
JA Westenberg@AmishSuperModel Thus for thee but not for me, as it were
Alan Miller 
🇺🇦@AmishSuperModel It's not that they think it's unfair - fairness isn't a factor in their thinking at all. Their thinking is "how much of that do I have to pay someone to be able to keep most of it?"
The ultra-rich have long recognized that the ROI on purchasing politicians is extremely high.
a hopeful socialist@AmishSuperModel a very interesting example of the contradictions and hypocrisy inherent to capitalism, thanks for pointing it out so succinctly