still al lot of scale

he made his fortune through PayPal which was right place right time as well

not everyone can do that through that mechanism


less gov, more control over-scaled companies leaving breathing space to little players = better organic competition overall

Its not that they all show a 0% income. Its they have enough business expenses, write offs, etc. to have a low taxable income.


I know farmers that make several million dollars per year. But by the time tax season rolls around and they are done with deductions and expenses they are actually in the negatives for the year. So technically they do have an income of less then 0 for the year and are in 'debt'.


My girlfriend used to own a business and she made 2 million per year on average. Guess what. She spent 2 million per year in business expenses and did not pay taxes on it.




People that think they are going to hurr durr tax the risk are delusional. The majority of the 'rich' are entrepreneurs or are wealthy enough to pay people to handle their money. Those people are intelligent enough and know how to work the system to pay less taxes.


You keep raising taxes on them and they'll keep making moves to beat the system. Furthermore they are likely to take steps that remove what they do put into the system.

Why do you think the state of California is threatening an exit tax? So many people are leaving purely because of California's income tax rate.

Look at what's going on in Chicago right now. Lazy as hell teachers doing everything they can to not go back to work, and guess what, we are stuck paying full salaries. When money is coming in free without sweat and blood, it's always spent inefficiently.

Of course not everyone can do it.
But it's possible to become the next BMW, which is what you claimed could not be done.

You think more Elons will magically arise if you tax the rich more?

The rich can avoid taxes, not evade them. its reality of the situation

Yeah, tax the rich so we can send more money to foreign countries, great idea

The more you punish people that work hard and contribute to the economy the less motivation there is to work hard or at all, and even 90% of zero is zero.

Wealth inequality is a serious problem for society though. Resentment among the "have-nots" is only getting worse. You can't just say, "well fuk them, they don't deserve handouts". While this may be true, it doesn't solve the problem. We are seeing a major resurgence of socialism/communism all over Europe and NA. Political violence is a regular occurrence now. People are just not happy.

Living standards are far better than they used to be, even for the poor, but it doesn't matter. People see inequality and it triggers something deep within them, especially the poor and people with no self belief or confidence. Add nefarious organizations stoking the flames and we have a recipe for disaster.

I believe all welfare and the minimum wage should be scrapped and give everyone a basic income. That way, "the rich" are literally giving "the poor" money to live and asking for nothing in return. Now go and make a decent living if you want a decent life. There is no one else to blame.

Nobody should be taxed in our own country. That's why.

100% !!!

This is where we probably don't see eye to eye - there is a mechanism that set the bar to an insurmountable level

E.g some people you can see them ITT claiming that foreign aid shouldn't exist - when there are native problems sure

but a lot of developing countries have a lot of talents that we can't tap into due to their financial barriers


another micro example is financing an MBA programme - companies don't do it so those who can pay for it, usually through family money, are those who go and land a good job afterwards. So pay-to-win. And this for a degree as superficial as a MBA.


that being said, I dont want tax to go into blackholes:

- drug addicts

- leeches

- single mothers like SilenenceSpeaks

- gov retarded programmes run by civil servants that are unelected

Muh trickle down economics

Well said although I'm not sure if I agree with everything. My issue with "tax the rich and give to the poor" is that us in the middle usually end up getting screwed. It usually leads to less economic opportunity for us, while allowing the bums to achieve the same level as what we have to work for, except we have to go to work for it and have to pay for it, while paying taxes on everything. I see people with their EBT cards, I'm using my bank card. It really makes it so that "is it even worth trying" and that is where it collapses. So it's not about "they don't deserve it" it's about "why do I have to earn it and they get it for free". What's going to happen when working people just say "fuk it" and quit so they can be on vacation all year round too?

People do that through that mechanism all the time. He didn't start paypal, he bought into it with daddy's money

A basic income shouldn't be enough to live off and enjoy your life. It should be enough so that the absolute basics are covered. Not enough to live in a nice little one bedroom apartment with an iPhone and internet and netflix, etc. People would need to be incentivized to get a job, even a low paying one. That's why the minimum wage should be significantly less than it is now or totally scrapped.

UBI is interesting in that it doesn't take endless money printing to implement like the current welfare system. The money is basically recycled back into the economy.

just tax everyone the same % wise, stop it with the free money for poor people

isnt it crazy that americans believe the rich will actually let their money trickle down. hahahahaha JFL

If the goal is to raise the quality of life for the middle and lower class then you have to ask how much of your tax money is already doing that and whether or not you think that would get better if the government had more money.


Also if you’re making 750,000 a year and you pay 15% of that in taxes it’s 112,500 a year

Raise it to 30% it’s 225,000

Compare that to making 60k a year paying 20% = 12000

At the lower rate rich pay the same gross amount as 9.3 people making 60k. At 30% it’s 18.75 people.

Even if all that money went back to the middle or lower class I would say paying the same amount as 18+ people is pretty generous

if the poor made the laws, the poor would be taxed less, if the rich made the laws, the rich would be taxed less

because it's already unfair

the only fair tax is one that is levied equally on every person, regardless of their income

What is "YOUR fair share" of what someone ELSE earned?

Yep and most of the poor will just spend it all on weed or whatever else and then cry they don't have money for food and crap and their kids are hungry. My issue is that what they will do is just give it to everyone who at least on the books is under the poverty line and then watch cost increase for everyone else.

Most of the Misc can't remember but there was a time where if you were on welfare you got a check every month. That song from Bone Tugs in Harmony "First of the month" was about exactly that. They ended that for a reason.

The whole concept of fairness goes out the window with the Federal Reserve subsidizing people who own real assets and investments at the expense of the majority

You really think the government cares what you think is fair or not

Just stop being ****ing poor OP

Jesus

Because they already pay almost all the income tax as it is. What retarded planet are you from to think that we have a problem with tax revenue and not a spending problem?

cause theyll flee to tax havens = even bigger loss now caus 0 tax

lower tax = more incentive for billionaironies to stay in the country

Yeah no. Not how that works.

Here's my recent pay stub. Do you think I pay too little???

professional athlete fee

wtf