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tclambert

(11,187 posts)

10. I just heard a billionaire complaining that rich people pay 80% of taxes and poor people

Thu Apr 14, 2022, 08:28 PM

Apr 2022

don't pay their fair share. I think he said it on one of the financial shows, so the hosts were fine with not calling him on his BS. (You know if the rich guy really envies the poor, I'm sure he could try just a little harder and make himself poor. Seems like there are very few barriers to becoming poor.)

He also complained that some "taxpayers" pay no taxes at all. He didn't mean Jeff Bezos. Once again, he meant poor people. Imagine it! Some poor guy working TWO jobs (at minimum wage), barely able to feed his family, with the help of food stamps, pays not one dollar in taxes, while the oppressed rich guy paid MILLIONS in taxes. Why, he might have paid so much in taxes that he couldn't afford the yacht he wanted, he had to settle for the SECOND most expensive yacht in the world.

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Wealthiest Americans pay just 3.4% of income in taxes, investigation reveals [View all] Nevilledog Apr 2022 OP

Our own American Oligarchs. BigmanPigman Apr 2022 #1

Obviously, since we don't typically tax paper gains. That should probably change. Hoyt Apr 2022 #2

In spite of the appearances, I would not tax unrealized paper gains. DFW Apr 2022 #4

That won't work. It just guarantees dynasties. PSPS Apr 2022 #5

That's where a robust Estate Tax comes in. Not sure it will raise huge amounts Hoyt Apr 2022 #7

Yes, the MAD idea may work, as long as it's taxed as ordinary income, not capital gains. PSPS Apr 2022 #8

Not sure about an 80% tax rate, especially if unrealized gain, but most definitely more. Hoyt Apr 2022 #9

Tend to agree. But since it is unlikely most Democrats will get it or care, Hoyt Apr 2022 #6

This is why American oligarchs buy elections and the media. Irish_Dem Apr 2022 #3

I just heard a billionaire complaining that rich people pay 80% of taxes and poor people tclambert Apr 2022 #10

"large charitable donations" gulliver Apr 2022 #11