Time to increase the taxes of the top 10%

[Bigdog]

General Electric's Special Tax Loophole Lets Company ...https://americansfortaxfairness.org › general-electrics-sp...
10 That rate is a tiny fraction of the corporate tax code's statutory 35 percent rate. During those five years GE had profits of $27.5 billion but got refunds ...

Meet the 18 profitable companies that paid no taxes over 8 yearshttps://www.cbsnews.com › MoneyWatch
Mar 10, 2017 — Eighteen of them, including General Electric (GE) and Priceline.com (PCLN), paid no federal income taxes during that time.

General Electric Paid No Federal Taxes in 2010 - ABC Newshttps://abcnews.go.com › Politics › story
Mar 25, 2011 — The company, led by Immelt, earned $14.2 billion in profits in 2010, but it paid not a penny in taxes because the bulk of those profits, some $9 ..."




Leftist green energy tax credits for the uber wealthy.

 

[volsrock]

And as we’ve seen with your Messiah, many on the top don’t pay anything also, unless you think Donnie was just an exception, but we know there are many more “smart” people like him out there

Now the truth


In 2019, the top 1%, or taxpayers with an AGI of $546,434, paid $612 billion in income taxes, and paid 38.8% of all federal income taxes. To contrast, the bottom 90% paid $461 billion in income taxe


https://www.thebalancemoney.com/breakdown-of-who-pays-most-taxes-4178924

 

[Hawkeye10]

Now the truth


In 2019, the top 1%, or taxpayers with an AGI of $546,434, paid $612 billion in income taxes, and paid 38.8% of all federal income taxes. To contrast, the bottom 90% paid $461 billion in income taxe


https://www.thebalancemoney.com/breakdown-of-who-pays-most-taxes-4178924

Considering that the top 1% control over 1/3 of the nations wealth they almost certainly do not pay enough.

 

[Hawkeye10]

Another thing too....who pays the lowest taxes is very dependent upon how successful they are in corrupting Washington. Low taxes can be purchased by handing the right amount of money to the right people.

 

[volsrock]

Considering that the top 1% control over 1/3 of the nations wealth they almost certainly do not pay enough.

57% of U.S. households paid no federal income tax in 2021...they almost certainly do not pay enough.

 

[Hawkeye10]

57% of U.S. households paid no federal income tax in 2021...they almost certainly do not pay enough.

After the wealthy, those who have enough wealth that they can use that wealth to earn money rather than just subsisting, pay their share we can talk about further tweaks. I think that if the top 1% control about 35% of the wealth and can make all of that money work and thus grow their wealth they should be paying closer to 50% of the taxes.

 

[Celticguy]

Of course we know that the rich pay, a small percentage of the taxes they actually owe. Let's take trump as one example, his taxes were not audited because they were too complex for the IRS to understand. That applies to most of the very wealthy, its much easier to take your short return and determine that you still owe them $75.00.

we don't know that at all. congress put exemptions in expressly to allow this.
if you dont like this, talk to congress.

 

[Celticguy]

After the wealthy, those who have enough wealth that they can use that wealth to earn money rather than just subsisting, pay their share we can talk about further tweaks. I think that if the top 1% control about 35% of the wealth and can make all of that money work and thus grow their wealth they should be paying closer to 50% of the taxes.

they pretty much do.

 

[Guno צְבִי]

 

[Theywillneverlearn!]

You have heard all these right wing clowns saying that to pay off the debt you would have to take away all the wealth of the 1% , to the exaggerated extent of all the wealth of everyone, to pay off the debt. Clown talk. Here is the fact, increase the taxes of just the top 10% by 10% you would get 963 billion increase a year. And that amount would increase at an average rate of about 4% a year, that is the historic trend.(2021 numbers). You take out Trump's disastrous 2020 increase in the debt and that amount would pay our annual debt increase a year, and with the historic increase in tax revenue. That increase will pay down the existing debt. In 25 years, that tax revenue would double to two trillion a year. One trillion over the average debt increase for the last 11 years.

Dude, dudette....whatever you consider yourself. Pay your fair share. The Government could care less if you are a cock sucking liberal or anyone else that is normal. Pay the fuck up.

 

[Mason Michaels]

Let's add in the fact that no one will ever call the American's debt. WE own 80% of it.

Just write it off!

 

[Lightbringer]

You have heard all these right wing clowns saying that to pay off the debt you would have to take away all the wealth of the 1% , to the exaggerated extent of all the wealth of everyone, to pay off the debt. Clown talk. Here is the fact, increase the taxes of just the top 10% by 10% you would get 963 billion increase a year. And that amount would increase at an average rate of about 4% a year, that is the historic trend.(2021 numbers). You take out Trump's disastrous 2020 increase in the debt and that amount would pay our annual debt increase a year, and with the historic increase in tax revenue. That increase will pay down the existing debt. In 25 years, that tax revenue would double to two trillion a year. One trillion over the average debt increase for the last 11 years.

You realize you're a nazi right? The argument you're making and all that....

 

[floridafan]

we don't know that at all. congress put exemptions in expressly to allow this.
if you dont like this, talk to congress.

I have no idea what you are talking about. Did congress allow the wealthy to dodge IRS audits because their returns were too complicated? Possibly because there are too few agents to handle the job properly?

 

[Celticguy]

I have no idea what you are talking about. Did congress allow the wealthy to dodge IRS audits because their returns were too complicated? Possibly because there are too few agents to handle the job properly?

yes. not that i buy you supposition but congress wrote the tax code.

there are plenty of agents to manage billionaires.

 

[floridafan]

yes. not that i buy you supposition but congress wrote the tax code.

there are plenty of agents to manage billionaires.

How do you know how many agents there are and just what they do? Your answer is meaningless and stupid.

 

[Lionfish]

 

[Flash]

"Trump imposed the trade fees in 2018 to shrink the mammoth U.S. trade deficit with China and to compel the Chinese to abandon several unfair trade practices, including coercing American companies into sharing their technology secrets.May 20, 2022

The farm subsidies were easily covered by the tariff revenue.

Tariff revenue is paid by American consumers.

Tariffs are paid by U. S. businesses directly to the government when they import products. That cost is often added to the price of products. So, American taxpayers paid for those farm subsidies.

 

[Bigdog]

Tariff revenue is paid by American consumers.

Tariffs are paid by U. S. businesses directly to the government when they import products. That cost is often added to the price of products. So, American taxpayers paid for those farm subsidies.

True, but only paid by people that CHOOSE to buy Chinese goods.

As you know, we have always subsidized corn, soy, wheat, cotton, and rice.

 

[Bigdog]

yes. not that i buy you supposition but congress wrote the tax code.

there are plenty of agents to manage billionaires.

And the billionaires have teams of accountants to ensure they play within the rules. But small businesses do not.

 

[Celticguy]

How do you know how many agents there are and just what they do? Your answer is meaningless and stupid.

i keep up with current events. only about 700 billionaires, 10,000 agents.