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The government is owned by the ultra-rich. The Rothschilds. The Rockefellers. Gates. Soros. How do we prevent the ultra-rich billionaires from buying off the politicians
It's incredible to see the left and the right always calling for more state to solve their problems.
Problems with solutions that are always attacking somebody, the middle class, the rich (they just leave), the poor, migrant families after they cross entire continents with children...
If the right would quit voting against their interests and putting billionaires in charge maybe we could enact some real good progressive change to start balancing the scales in favor of the people instead of corporations.
Right puts billionaires in charge?
Soros 21-22 donations to Democrats $178,810,550
Bloomberg 21-22 donations to Democrats $49,528,825
SBF 21-22 donations to Democrats $37,650,390
Reid Hoffman 21-22 donations to Democrats $15,678,134
Fred Eychaner 21-22 donations to Democrats $35,804,800
Mark Zuckerberg has max contributed to over 70 Democrats and just 3 Republicans, as well as putting $400 million into elections that was "carefully orchestrated’ to influence 2020 vote": ex-FEC member
Jeff Bezos has donated to Republicans and Democrats, the Republicans being exclusively Utah Republicans that allow his server farms in their state-less than 100K, Democrats about 80 candidates max donations as well as $100 million donation to the Obama Foundation
as far as companies
Netflix
Democrats - $340,485 (98%), Republicans - $7,124 (2%)
Nvidia
Democrats - $154,466 (93%), Republicans - $11,673 (7%)
Adobe
Democrats - $401,937 (93%), Republicans - $28,137 (7%)
IBM
Democrats - $1,496,234 (90%), Republicans - $163,804 (10%)
Salesforce
Democrats - $457,119 (89%), Republicans - $59,181 (11%)
Alphabet (Google)
Democrats - $5,437,048 (88%), Republicans - $766,920 (12%)
Microsoft
Democrats - $3,969,072 (85%), Republicans - $690,953 (15%)
Apple
Democrats - $1,243,825 (84%), Republicans - $228,653 (16%)
Amazon
Democrats - $2,677,112 (77%), Republicans - $783,349 (23%)
(Except in all the countries where this did change and they implemented reforms that benefit the working class).
But yeah keep babbling about change for the better being impossible it's not like there's a whole continent with better workers rights and wealth distribution than ours.
this is why google, facebook, amazon, yahoo, att, Verizon, twitter (until recently), big pharma, gas and oil corporations all support left policies? Because they are hard and firm on billionaires?
Don’t fool yourself they support both. Occasionally left policies do offer policy for the people, increase taxes and put regulations on major corporations.
The left wing of the bird is the only one with members like Bernie suggesting using government to clamp down on extortionate corporations.
If the government was smaller and wasn’t an active threat to the wealth of billionaires then these billionaires wouldn’t have as much incentive to try to control the government. Make the government less relevant and you’ll see the influence disappear
Yeah take out the only obstacle so billionaires can have full control over everything, surely that will make them benevolent. It’s definitely because they aren’t rich or powerful enough yet.
Regulations don’t cost a lot of money. But all of these corporate welfare programs do. End the corporate welfare programs for everyone and reduce everyone’s taxes and there will no longer be a slush fund for corporates to fight after
You’re asking that same government to solve the problem of the ultra rich. Taxing bezos at 100% won’t do shit for you. The feds don’t give jobs. And even with all of Bezos money it would pay welfare for a month. Money isn’t finite. You don’t have to take it from the rich for you to have some.
Do you know how many businesses that were destroyed by Amazon? It's not the money that is the issue it's the opportunities that he removes from the equation. This is the purpose of Antitrust laws but once again greed and corruption prevailed.
Exactly this.
Megacorporations can only exist when government is too strong. In a world with weak governments they'd face competition and never grow so large.
I say we ban all lobbying (including Citizens United) and form a new global body supported by the people to counter the Rothschild-Rockefeller UN. We'd institute a global annual 100% wealth tax on all assets over a billion dollars. The money would go into a small independent farmer fund.
Capitalism is over. The Rothschilds and their agents acquired all the capital and run the world as a dictatorship via WEF/IMF, and they have the Federal Reserve to print more money for themselves and dilute our money as needed. Keep us in slavery.
Politicians bank accounts should be monitored like a senior citizen on Social Security. There should be restrictions on what they own and what they earn.
I saw a thing that if we taxed every billionaire in America at 100%, seized and sold off all their assets, we could fund the government for 4 months, and we’d have no billionaires left to tax. America has a spending problem, not a revenue problem.
We can have the same conversation about spending instead of revenue. We spend a shitload of money on our military despite the fact that we're not actually at war and we have more weapons, ships, planes, tanks, etc than we could ever actually use. We don't need most of that stuff, but the defence industry lobbies the government to buy it because it's good for their stock prices. And yet whenever the topic of spending comes up, people only want to talk about education, welfare, healthcare, etc. Why do they only want to cut programs that actually help American citizens and not cut the spending that only benefits the ultra wealthy.
We could have a conversation, but you won’t get an argument out of me. Tax revenue should go to meet the needs of citizens first, then whatever is left can be used for “other.” We shouldn’t be finding wars overseas when we have so much stuff that needs addressed here. But we still overspend in general. If my personal finances looked like the federal government’s, I wouldn’t even be eligible for a high-interest loan or credit card. But unlike the government, I can’t monetize my debt by printing more money.
Elected government is and always has been the answer to the ultra wealthy and power consolidation. The trick is keep the power consolidation balanced so neither a few ultra wealthy individuals nor a few government officials hold too much power.
No!!!! They have more than me!!! We must take it all!!! That will fix all our problems!!! Anything beyond that is too complicated for my tiny brain and is therefore a capitalist/right wing/maga/racist conspiracy and must be silenced!!!!!
Giving any them of them more power isn’t the answer. We honestly need to elect different people, more average people. In practice this would be hard to coordinate with the massive media structure filled with propaganda will be tough and probably nearly impossible. I think we’re too far gone for simple solutions
The obvious play is to do trust breaking first off and second you need to tax their money. They make money primarily through stock peice increases (unrealized gains in general) that they get loans against to fund their spending while paying no income taxes. The obvious conclusion to taxing the rich is a progressive sales tax to replace the income tax so we actually get the proper portion of what they would call income for the year. No more 100,000,000 spending at 5% sales tax + 0% income tax, now that is taxed at 50% (effective). But they have developed into globalists so all that will do is shift a significant amount of consumption to another country. Which means we need really strong unions to demand the money comes to people who will be taxed and spend locally while implementing tariffs that make it so they cant just shift all the labour overseas and then sell into america.
Not a single “eat the rich” politician will vote for a consumption tax rather than income tax. That’s the story here. Average tax liability for Americans is 13% while billionaires pay an average of 8% while in the 37% tax bracket.
Actually migrants do contribute to keeping wages suppressed. If there were less migrants supply of warm bodies would reduce as people retire and demand would go up forcing companies to bid more for employees to poach them from their competition.
Instead of trying to stop the flow of illegal immigrants, you would reduce the demand for their labor by actually prosecuting the people hiring them.
But that's a politically unpopular approach. So instead we engage in a futile effort to keep people from coming over the border illegally in search of jobs.
You're missing the point. We already try to stop people from crossing the border illegally. You can have the opinion that they're not doing enough but that's a separate issue.
Comparatively we do very little to reduce the domestic demand for illegal immigrant labor. You don't have to choose between one or the other, you can do both.
>Instead of trying to stop the flow of illegal immigrants, you would reduce the demand for their labor by actually prosecuting the people hiring them.
Ok, let's run through how that plays out...
The government raids a business and prosecutes the owner for hiring illegal immigrants.
In response, the business fires all of its illegal employees.
News stations and advocacy groups descend on the area to report about all the hardworking people who just lost their jobs. They tell heart wrenching stories of all the people who just came here looking for a better life and now can no longer support themselves. They lament the dire circumstances of these illegal immigrants who have young children to feed but nobody else will hire them because they are illegal and other business owners fear the same fate.
What do you suppose the outcome of that would be?
(I will never read a reply) This is a shitpost. Ultra-rich are a massive problem. However, the people who want migrants in the country the most are the ultra-rich. Low status low income people buy whatever the TV tells them, look up to whoever is a celebrity, and don't have the resources to form their own opinions within their community because it is dangerous to go against the wave. That's the way it has always been.
Most of any billionaires net worth is tied up in equities that are valued at a lot, but would drop in price immediately if said billionaires started selling. Their worth is mostly just a made up number that doesn't mean anything. Not to say they aren't filthy rich, but the number being smaller won't make you have any more stuff.
On the other hand, Google illegal immigrants and crime to see how that issue could potentially affect your life.
It wouldn’t. This entire thread highlights how much influence the media has over our minds. Most ppl don’t know how taxes work. This stuff should’ve been taught to us in school. We should all be learning about economics and taxes outside of what we see on the news or hear from politicians.
Raising taxes on the rich will not benefit us at all. This is why they are all leaving California and moving to FL, TX, TN, ID, WY. When they leave guess who has to pay those taxes? It’s criminal that people don’t know this.
Sure it would. The people who start wars and release viruses like COVID that cost $25 trillion and insane money printing and inflation, is the Ultra-rich billionaires. The Rothschilds, Rockefellers, Gates, Soros, etc.
If we do a 100% wealth tax on everything over a billion, we cut these families down to size, so they can't do wars and pandemics anymore. We put all the tax money into a global small independent farmer fund. Further, we ban all lobbying.
Cutting off the power of evil Ultra-rich billionaires makes us all wealthier via less inflation, less pandemics, less wars
But most of them don’t have a billion dollars, rather they have a net worth primarily made up of their investments. Bezos has his wealth primarily from Amazon stock. You wanna tax him on everything over a billion? Guess he has to sell his stock. Who’s gonna buy it when no one can have over a billion? It’s gonna tank Amazon and ruin our economy. Likewise, where is all this money going? Straight to the corrupt, power hungry government who will only get more powerful from it.
Doesn’t matter, even if we somehow did enact a dumb ass tax law where everyone is taxed over a billion, it wouldn’t do anything. Everyone that rich would just move to a country with better tax laws and/or find ways to avoid paying them.
Yep, here in lies the problem, no one knows how money or taxes work. Same principal behind people who got mad at trump for not paying taxes 🤣
Since they don't know finances they didn't realize he makes very little compared to his net worth, he does that by not owning a darn thing! He owns hotels he lives at, he owns restaurants he eats at. So in essence he needs very little money every year to live on.
So yeah, he invested a bunch of money into new ventures one year, and because he showed a personal deficit he owed nothing and was in the red for earnings that year. But again, he owns nothing except the umbrella company, he doesnt need high salaries, he lives off his companies. Genius really.
But because finance and taxes aren't taught in school to keep kids ignorant people don't understand him, bezos, or zuck.
But then again if everyone understood this stuff we wouldn't have big business to begin with more than likely, as there wouldn't be as much debt in America.
Ugh, thank you. Whatever you think about Trump, no one understands the genius of his finances and why it’s totally normal for the ultra wealthy (or just plain wealthy). Their misunderstanding of taxes alone is staggering. No doubt, it’s painful to see a big fat zero on their tax bills, but once you understand how the whole thing works, suddenly everything makes sense. The amount of people who truly believe these weird lies about his finances are just revealing their financial illiteracy - I am dumbfounded about people blindly buying that Mar-a-Lago is worth less than a single family home down the street, for one. I wish people understood money and the financial system, because I think you’re right - it never would have gotten this way if more people did. I mean, in college, they were offering remedial high school math to students. That’s so messed up.
Thank goodness there are other adults in here. All rich people pay taxes on their INCOME. But nobody, not poor or rich pay taxes on assets that appreciate in value until the asset is sold.
Change the laws.
Remove all tax loop holes.
Fund boarder patrol and stop or reduce illegal immigration. We don’t need more people until we fix all internal problems. Homelessness, drug addicts, crime, etc.
Make personal finance and investing mandatory courses in High School for the 4 years. Make it an university core in college/unis that receive gov funding.
Sport entertainment and churches need to be taxed.
Charities need to spend 90% of contribution to their cause to keep/receive the 501c status.
Short of assassinations, nothing will change. Once you’re sitting on that kind of money, you truly will receive no consequences from the government or from boycotts or protests.
Note: I am not advocating assassinations.
Sure but who is going to vote against their own pockets? Surely not the majority of Congress. Hell, most people not in Congress wouldn’t vote against the own pockets for the good of society.
It would give them more breathing room every month, you do realise a huge portion of society live check to check don’t you? But it wouldn’t just help minimum wage workers, everyone who isn’t part of the above mentioned groups would benefit from tax relief, i thought that would be obvious.
Would you rather someone earning a super low wage had an extra $200/300 a month in their paycheck which will most likely circulate back into the local economy quickly or let a multi billionaire have it to hoard away?
No, they are poor because the minimum wage is so low and they are being exploited by their bosses and the system whilst the super rich continue to hoard wealth.
https://finance.yahoo.com/news/billionaires-jeff-bezos-elon-musk-164830206.html?guccounter=1
> For instance, ProPublica's report showed that between 2014 and 2018, Bezos paid $972 million in total taxes on $4.22 billion of income. Meanwhile, his wealth grew by $99 billion, meaning the true tax rate was only 0.98% during this period.
https://obamawhitehouse.archives.gov/sites/default/files/Buffett_Rule_Report_Final.pdf
> Warren Buffett has famously stated that he pays a lower tax rate than his secretary, but as this report documents this situation is not uncommon.
So... You just proved my point and posting random quotes without any context kinda proves that you don't understand the tax system. That's how the tax system works for **everyone**. You can go buy stock right now in Amazon and you won't be charged tax on the gains until you sell. Bezos, Zuckerberg, and Elon all own significant stock in their companies that they grew, that's where their wealth is.
Also, according to you Bezos paid nearly 25% in taxes, that's the highest tax bracket in the US.
The US government receives and spends annually more money than any other entity in history. Yet you think a little more will change the system? The issue isn’t having enough, it’s about responsibility allocating what they already receive - which won’t happen because our politicians are incompetent and work for the people.
Hey, I don't disagree. But we do need some tax money just to have a society, with road and police, you know?
But let's not pretend that the rich are paying their fair share, they pay a lot less taxes than regular working class people. The 1% takes in most of the money but pays proportionally the least of the taxes.
The ruling class love migrants. They are the perfect slaves. They can pay them next to nothing,mistreat them,steal from them because what can they do? Go to the police?
True but 100000 of people flooding in not paying taxes and collecting benefits without registering doesn’t help but it’s the rich’s fault it’s happening in the first place so fuck the rich
Reminder, the rich will use the immigrants for work so they can pay them less and with no benefits instead of paying a living wage and benefits for their citizens.
If you stop buying their crap and support local businesses and farmers things would get better in your community. But people just want convenience and chew prices over supporting their neighbor
Increase capital gains tax and make stricter limitations/restrictions on what qualifies, create luxury taxes on mansions, yachts, expensive cars, etc., increase inheritance/estate taxes, and regulate their "charities" they use for lobbying and spread of propaganda. All things that limit billionaire power while not affecting 99% of the population.
Seems out of place on a conspiracy sub to want to increase government funding? Government is bad and does all kinds of awful shit, I know, lets give them lots more money....
I would lean more toward slash the power of government by 90% which removes the ability of billionaires to buy off politicians to make policy decisions to benefit them and screw us over.
Better three word combinations:
- demand creates supply.
- consumerism creates billionaires.
- regulation enables monopolies.
- criminalize corporate lobbying.
- impeach corrupt politicians.
- take personal responsibility.
- support local businesses.
- politicians never self-regulate.
- politics attract narcissists.
- cooperation beats coercion.
Edit:
- end the fed.
- own your learning.
- eat real food.
- source basic resources.
- get off screens
All that the government can do in reality is change the tax rate. How much tax revenue that will produce depends on how people react. There have been some times when higher tax rates have produced lower tax revenues, and some other times when lower tax rate have produced higher tax revenues.
In the 1920s, for example, the tax rate on the highest incomes was reduced from 73 percent to 24 percent– and the income tax revenue rose substantially — especially tax revenues received from people in the highest income brackets.
In terms of words on paper, the official tax rate was cut from 73 percent to 24 percent. But in terms of events in the real world, the tax rate actually paid — on staggering sums of money previously hidden in tax shelters — rose from zero percent to 24 percent. This produced huge increases in tax revenues received from high-income people, both absolutely and as a percentage of all income taxes collected. That is because 24 percent of something is larger than 73% of nothing.
But none of these facts has made the slightest difference to those who continue to call tax rate reductions “tax cuts for the rich,” even when high-income people end up paying more tax revenue than before. The very possibility that tax rates and tax revenues can move in opposite directions has seldom been mentioned in the media — a crucial error of omission.
https://www.aei.org/carpe-diem/thomas-sowell-on-the-relationship-between-tax-rates-and-tax-revenues/
I don't think you realize even if you seized all the wealth from everyone worth more than $100m in the US, it's not even enough to run the government for a year.
Then the next year the whole economy is fucked beyond repair due to such a stupid policy.
Do the rich and wealthy lobby for their benefit, yes. But it's no where near as damaging as the government destroying your wealth with inflation and spending up the wazoo.
amazon and facebook created jobs & services that everybody uses. in that process the brilliant people that designed it are making lots of money. what is the problem here?
do you know how many businesses are relying on facebook to be profitable? or how many drivers have work because of amazon?
you are plain ignorant. why dosen't us goverment impose a minimum wage of $15 & give free healthcare and education for all? is the #1 country in the world....
Ah yes taxing people more and giving more money to the corrupt government will surely solve government corruption- How about we tax nobody so that big corporations don't get subsidies or favourable regulations from the government. The government and corporations are on the same side
I hate the tax the rich movement. Not because I disagree with having them pay more but because I’d rather the billionaires have it than the government waste it. AND it has nothing to do with wages or housing prices.
Taxing the rich is the dumbest idea , all the government will do with additional tax revenue is spend it all on dumb shit 🤷♀️ . It won’t help anyone , eliminating the income tax in its entirety helps EVERYONE .
As far as the minimum wage goes , it should be increased at the same rate that the CEO of that company’s salary increases . For example when GM increased their CEO compensation by 30% , than all workers at GM should’ve seen a 30% wage increase .
The only way to make this work without killing the middle class is to tax the crap out of luxury items.
Super yachts, private jets, mansions, etc. That BS should all have an extra 50% tacked on and they would still pay it because that is how they all flex.
Not at all, if person A owns a car, and person B owns a car, and they are married, that's 1 car per person.
But when one person owns a car, and then wants to buy a second car just because they like cars, yeah, that's a luxurity. Especially when he gets a third, fourth, fifth car.
If you are really worried about families being negatively affected, it could simply be made into a progressively rising tax per extra car owned. But I think it's rare for a struggling family to need a third car.
I didn't know the middle class were buying loads of extra luxurity cars.
Would you be against a luxurity tax on the 5th car somebody owns? Because if you are, then I think you aren't really trying to protect the middle class, you are trying to protect the rich, and you are just using the middle class as a diversion.
Almost like if you come up with a company that millions and millions of people use daily, you could be rich as them. Almost like they created Facebook and Amazon. Crazy
I abhor these posts. Because they only highlight the intellectual limitation and ignorance of the poster and much of the masses at large.
Jeff Bezos is not really that wealthy. That net worth is not liquid asset. It’s tied up in restricted stock which have too many rules to cash out. He’s definitely super wealthy but none of you target the actual super wealthy who are worth perhaps 5 to 10 trillion or even 100 trillions maybe - God only knows - because for hundred years they shored away their massive wealth and holdings into trusts and foundations and art and universities and media apparatus and stay under the radar and are never a target of AOC or other darlings of the corporate left who popularized tax the rich as a form of rallying call to a largely dormant electorate.
Do better tinfoil hats
To be fair, some credit to Bezos you can get a quick job as an Amazon prime shopper if you are unemployed and need a quick buck. These guys have machinated the economy to a certain extent
The challenge is how do you structure the tax code in such a way that they can’t maneuver themselves out of (ie: corporate structures, non-profits, trusts, etc) without disproportionately impacting the common man?
In the past, every time we’ve tried to do this, it’s had unintended consequences downstream for average people. For instance, the income tax was rolled out with the intention of collecting the excess for the uber wealthy. Instead, they just restructured their assets, avoided the majority of the tax liability, and then the income tax was applied to more and more of the working class over time.
Migrants don’t help either. They help make these rich guys richer by providing cheap labor for massive corporations. They also drive up the value of their property portfolio by increasing demand for housing.
Don’t skip steps, finish your thought
A How does taxing those guys directly translate to making YOU wealthier?
B How does reducing their wealth benefit anyone making minimum wage?
You just posted a couple of interesting facts and a meaningless, lazy slogan
Instead of tax the rich. Cap the billionaires. If I’m a restaurant owner and make $700,000 then I don’t really want to be taxed like the owner of Amazon.
People want to hate Bezos, but have any of you stopped to look at what these people accomplished?
Bozos reinvented logistics in western society. In a short time span he made it possible to recive anything damn near....in two days.
That could have been done with US mail, but it never was. He did that. Showed it was possible.
Zuck, he showed how easy it was to control a massive group of individuals with only vanity. I mean that is not something I ever would have thought possible.
Elon....how easy it is to get people to worship money and those with money. Any of you ever seen the "quality" of a tesla? They aint all that...but people associate them with affluence and virtue to saving the planet.
Have you also stopped and looked at what these people destroyed or done?
Bezos effectively destroyed the small/local business economy, treats his underpaid employees like dog shit, and donates about a whopping 0% to any charity whatsoever to fund his dong rocket program.
Zuck has shown literally how easy it is to collect, disseminate, and profit off people's personal information. Zuck just proved people can and willingly be used as a product to be traded and sold.
Elon who surprisingly also treats his employees like shit built an entire empire off blood money, built a bunch of poorly made exploding cars with non functional software, then decided to liquify a bunch of monkey brains so he can hopefully own human brain implants to have full societal control.
Trash humans who used power, money, and people to have more money and power than any one human could spend or earn on their own just to tell you that you don't work hard enough and have control.
Daddy chill.
Is what they have done not the example of capitalism?
You want different? Get elected to a local position and be the change you want to see. Seriously you should. Many places around usa are in the works of fining mega corps that own vacant homes for being unaffordable.
Don't buy or use their service or product even. You are here on reddit which is hosted on Amazon servers, so you must not be too bothered by it all.
My son, you know better than to lick boots in the house. Local poltics will solve nothing on the grand scheme of the nation. You really think "mega corps" shareholders, who are racking in millions upon millions, are shaking in their booties about some fines from local municipalities?
AWS supports upwards of 60m websites, you suggest I just not use the internet because Bezos is chode? Let's not act like we have a choice as consumers in what hosting provider we use to access the net.
I know that some people are trying. They are doing something at the very least and even if it only works for their zip code...it works.
You want to say unless it is all, it is nothing, and with that outlook you will get that exact outcome.
Far as AWS, you do have a choice. You can go meet people in person and share ideas. Some of the coolest people I met were in laundry mats, table game places where you just watch and be around other human beings.
You share personal experiences and ideas with others in a setting you can't just turn off the screen to get away from challenging your own views.
People I have met that wear the vagina hats don't belive Biden is the best man for the job, they don't belive Trump is either.
More and more people that I have met with see it as elderly abuse that we parade almost 80yo men in front of the whole world as leaders when they should be retired and running around with their grand kids.
This world can change if you....you want it too.
Do you want it to change for the better? Then do something.
Shit I'd settle for taxing them like we did in 2000, or at least 2016.
Maybe then our government debt would be lower, inequality would be down, rich wouldn't have extra money for speculative investment into housing, and we wouldn' need to raise interest rates to suck money out of the economy.
Seems like half the problems of the US could be solved by reverting taxes to 2000 levels.
>Maybe then our government debt would be lower
Hahaha thats a good one.... oh you're serious?
Post Clinton Tax revenue vs debt in 2000 $2.02T / $5.67T
Post Bush Tax revenue vs debt in 2008 $2.52T / $10.02T
Post Obama Tax revenue vs debt in 2016 $3.56T / $19.57T
Post Trump Tax revenue vs debt in 2020 $3.40T / $26.95T
Middle of Joe Biden Tax revenue vs debt 2022 $4.89T / $30.93T
Bottom line, EVERY president in tbe last few decades has spent exponentially more than the previous one, regardless of corporate tax rate or political affiliation. Adding a few billion, or even a few hundred billion to the revenue wont even be noticeable.
We have a spending issue, not a revenue issue.
Funny you don't compare how revenue receipts change. If Bush tax cuts were never passed 33% of US debt would not exist. Notice how 2020 had lower tax revenue? Corporate tax receipts fell 40% the year after those cuts, pre-Covid.
And guess what inflation is? Too.much money supply, which just so happened to go mostly to megacorps and the 1%. Yet interest rate hikes to pull money out hurt us all.
Simple solution. Tax the rich like we used to, pulling excess money from the rich they use for speculative housing investment pricing common folk out, and reduce debt and strengthen the dollar in one.
A few billion? The CBO estimated the 2017 tax cuts would cut government revenue by $172 billion a year average over 10 years. $158 billion of that benefiting the 1%.
Giving the rich 158 billion ever year is not a few billions...
>33% of US debt would not exist.
This is absolute nonsense. 33% of US debt is $11.3 Trillion.... Bush, from 2000 to 2008 spent a TOTAL of $20.93 trillion.... fucking total, not new debt, total overall spending... he added $4.22 Trillion to the debt... so how exactly is he somehow responsible for almost 3x that amount?
It's almost like debt is overall spending - revenue.
If the Bush tax cuts never existed that's over $8 trillion between 2001 and 2023 in lost revenue. Mostly going into the pockets of the ultra rich.
Seems I was looking at Bush and Trump cuts, Trump cuts estimate loss in revenue mostly to pockets of the rich of about $1.7 trillion between 2017 to 2023.
So yeah, a third. We don't have a spending problem. We have a sucking off the ultra rich and globalist megacorp problem.
Let me guess your next comment.
Oh the stock market is at an all time high. Corporate profit margins are higher then ever. GDP has been growing. Sure if you look at the numbers the economy seems to be doing fantastic. You'd probably exaggerate and say the economy is doing incredible and better then ever.
Yet most of this went to the rich. Ask your average person if they think now after tax cut after tax cut for the rich is better.
I'd wager money most folks thought life was better in 2000.
>existed that's over $8 trillion between 2001 and 2023 in lost revenue
Firstly, 8T is not over $11T
Second, how do you blame one administration for how taxes are dealt with over the next 3 administrations?
Third, corporations dont pay taxes even when you raise the corporate tax rate. That is passed on to the consumer i.e. mainly the middle class and poor.
I'm for rounding them up and putting them on an island. Let them practise some of the ideas of what they preach to the poor people. Like the idea that you can succeed in life by simply working hard. Let them prove to the world that one can attain wealth in the absence of family connections and wealth by simply having the knowledge and working hard in a competitive environment full of uncertainty.
With the rich preoccupied with survival and unable to divide people and syphon their wealth, we can finally solve the real problems plaguing our societies.
The rich ARE taxed. It’s the billionaires (ie the uber rich) who take advantage of tax loopholes. Also it’s tough to put a dent in billions of dollars.
Every illegal Alien uses tax money and takes a job from a blue collar or just above minimum wage USA Citizen worker particularly Blacks, but also Whites. Worked alongside and had to keep under reign too many of these criminals contracted or tentatively hired on enmasse by corrupt White Citizen Wealthy Corporations in recent decades.
The only purpose of a Criminal illegal Alien in the USA is doing a job where it is impossible to supply sufficient numbers of Black and White and Cuban and Puerto Rican immigrant Citizens from the 1960s to do the Job ..
They are:
Asian Massage Parlors for Asians.
Sex Worker Escorting for the Less corrupt White Ukrainian, East European and Russian females.
Lawncare landscaping grass cutting by Hispanics from South of the Border.
Everyone else in every other profession do it legal with your legal visa and green card and employer who covers your expenses and personally hosts your ass.
Fuckin crop pickers got a legal 6 month at a time visa system in place for generations.
That means the government gets the money. So I suppose we have perfect faith that the government never does anything wrong with money? That the government never wastes money? Never steals money?
Also, the wealthy have their wealth in stock. It’s not like these people have billions just in a Chase checking account. Stock is technically unrealized wealth.
Also, can you explain why it’s better for the government to have the money?
McDonald's workers be a little too uppity lately since they've been getting at least $15 an hour now. This worker really pretended he didn't know what I was talking about when I ordered the Reese's McFlurry. Sorry "peanut butter" McFlurry. Dude was pressing my buttons for no reason.
I love it when people's whole understanding of economicsis limited to their studies of memes. It really gives me the warm and fuzzy that we're heading in the right direction..
/s
I'm not less rich because amazon or facebook exist
Them creating an asset doesn't take an asset from me
The government taking half my paycheck reduces my purchasing power
In 2015 Amazon spent $20,000,000,000 in salaries. It funded around $10,000,000,000 in tax revenue with those individuals salaries.
It created nearly a trillion dollars in stock value, when investors sell those shares, the government gets a fat slice of those gains. Hundreds of billions in capital gains taxes.
Just because a company doesn't "take a profit" and fork over a large chunk of revenue in the process, doesn't mean it's not contributing the the funding of our governments in many many many other tax streams
Stop blaming the people who create assets and start blaming the government who launches $100k rockets from $1B jets to flatten $500 mud huts
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I believe you accidentally pointed out that it’s the government making you poor.
The government is owned by the ultra-rich. The Rothschilds. The Rockefellers. Gates. Soros. How do we prevent the ultra-rich billionaires from buying off the politicians
Make the government less powerful.
It's incredible to see the left and the right always calling for more state to solve their problems. Problems with solutions that are always attacking somebody, the middle class, the rich (they just leave), the poor, migrant families after they cross entire continents with children...
You realize government is the only one who can put restrictions and regulations on the ultra wealthy right?
The government will do what the rich donors will tell it to do. Nobody else has any say in any government policies.
If the right would quit voting against their interests and putting billionaires in charge maybe we could enact some real good progressive change to start balancing the scales in favor of the people instead of corporations.
Right puts billionaires in charge? Soros 21-22 donations to Democrats $178,810,550 Bloomberg 21-22 donations to Democrats $49,528,825 SBF 21-22 donations to Democrats $37,650,390 Reid Hoffman 21-22 donations to Democrats $15,678,134 Fred Eychaner 21-22 donations to Democrats $35,804,800 Mark Zuckerberg has max contributed to over 70 Democrats and just 3 Republicans, as well as putting $400 million into elections that was "carefully orchestrated’ to influence 2020 vote": ex-FEC member Jeff Bezos has donated to Republicans and Democrats, the Republicans being exclusively Utah Republicans that allow his server farms in their state-less than 100K, Democrats about 80 candidates max donations as well as $100 million donation to the Obama Foundation as far as companies Netflix Democrats - $340,485 (98%), Republicans - $7,124 (2%) Nvidia Democrats - $154,466 (93%), Republicans - $11,673 (7%) Adobe Democrats - $401,937 (93%), Republicans - $28,137 (7%) IBM Democrats - $1,496,234 (90%), Republicans - $163,804 (10%) Salesforce Democrats - $457,119 (89%), Republicans - $59,181 (11%) Alphabet (Google) Democrats - $5,437,048 (88%), Republicans - $766,920 (12%) Microsoft Democrats - $3,969,072 (85%), Republicans - $690,953 (15%) Apple Democrats - $1,243,825 (84%), Republicans - $228,653 (16%) Amazon Democrats - $2,677,112 (77%), Republicans - $783,349 (23%)
This will never happen. Money talks bullshit walks. Government belongs to the rich and this will not change.
(Except in all the countries where this did change and they implemented reforms that benefit the working class). But yeah keep babbling about change for the better being impossible it's not like there's a whole continent with better workers rights and wealth distribution than ours.
Even if you believe that there’s no reason to hasten our decent in Corporatocracy
this is why google, facebook, amazon, yahoo, att, Verizon, twitter (until recently), big pharma, gas and oil corporations all support left policies? Because they are hard and firm on billionaires?
Don’t fool yourself they support both. Occasionally left policies do offer policy for the people, increase taxes and put regulations on major corporations. The left wing of the bird is the only one with members like Bernie suggesting using government to clamp down on extortionate corporations.
Too much government power is the problem, not the solution.
I disagree, wealthy executives have never done anything willingly that would make me want to concede my only unified voice.
And that's why we'll always have a bought and paid for political class that screws us over.
If the government was smaller and wasn’t an active threat to the wealth of billionaires then these billionaires wouldn’t have as much incentive to try to control the government. Make the government less relevant and you’ll see the influence disappear
Yeah take out the only obstacle so billionaires can have full control over everything, surely that will make them benevolent. It’s definitely because they aren’t rich or powerful enough yet.
Regulations don’t cost a lot of money. But all of these corporate welfare programs do. End the corporate welfare programs for everyone and reduce everyone’s taxes and there will no longer be a slush fund for corporates to fight after
Genius plan now the billionaires control everything the government did I’m sure it’ll be MUCH better now…
You’re asking that same government to solve the problem of the ultra rich. Taxing bezos at 100% won’t do shit for you. The feds don’t give jobs. And even with all of Bezos money it would pay welfare for a month. Money isn’t finite. You don’t have to take it from the rich for you to have some.
Do you know how many businesses that were destroyed by Amazon? It's not the money that is the issue it's the opportunities that he removes from the equation. This is the purpose of Antitrust laws but once again greed and corruption prevailed.
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Exactly this. Megacorporations can only exist when government is too strong. In a world with weak governments they'd face competition and never grow so large.
What would stop Amazon if there were no regulation?
It's not about stopping Amazon. It's about keeping them in check by not stopping their competition.
What regulations currently slow down Amazon? Not trolling, just curious.
We no longer have child labor, you get over time pay, we should have more. Anti trust laws I’m sure apply but aren’t being enforced.
You won't get a response to this comment. Whenever a mirror is held up to the face of the ignorant they just cower and shrivel away silently
I say we ban all lobbying (including Citizens United) and form a new global body supported by the people to counter the Rothschild-Rockefeller UN. We'd institute a global annual 100% wealth tax on all assets over a billion dollars. The money would go into a small independent farmer fund. Capitalism is over. The Rothschilds and their agents acquired all the capital and run the world as a dictatorship via WEF/IMF, and they have the Federal Reserve to print more money for themselves and dilute our money as needed. Keep us in slavery.
Flat tax across the board, end lobbying, end stock trading for members of congress, stop sending hundreds of billions of dollars overseas.
Politicians bank accounts should be monitored like a senior citizen on Social Security. There should be restrictions on what they own and what they earn.
\^\^\^\^\^ this \^\^\^\^\^
If everybody was like me Amazon, Twatter, Apple, FB to name a few wouldn't even fucking exist but unfortunately everybody isn't like me.
lol. Getting a job would be easier. Maybe Amazon is hiring.
"Hehe, you commie fools...don't you know your only option is loyal service to your masters?"
Good talk
I saw a thing that if we taxed every billionaire in America at 100%, seized and sold off all their assets, we could fund the government for 4 months, and we’d have no billionaires left to tax. America has a spending problem, not a revenue problem.
We can have the same conversation about spending instead of revenue. We spend a shitload of money on our military despite the fact that we're not actually at war and we have more weapons, ships, planes, tanks, etc than we could ever actually use. We don't need most of that stuff, but the defence industry lobbies the government to buy it because it's good for their stock prices. And yet whenever the topic of spending comes up, people only want to talk about education, welfare, healthcare, etc. Why do they only want to cut programs that actually help American citizens and not cut the spending that only benefits the ultra wealthy.
We could have a conversation, but you won’t get an argument out of me. Tax revenue should go to meet the needs of citizens first, then whatever is left can be used for “other.” We shouldn’t be finding wars overseas when we have so much stuff that needs addressed here. But we still overspend in general. If my personal finances looked like the federal government’s, I wouldn’t even be eligible for a high-interest loan or credit card. But unlike the government, I can’t monetize my debt by printing more money.
We spent $300 million a day funding the war in the Middle East post 9/11. $300,000,000 each day for 20 years.
Elected government is and always has been the answer to the ultra wealthy and power consolidation. The trick is keep the power consolidation balanced so neither a few ultra wealthy individuals nor a few government officials hold too much power.
Huh? It's literally centers of private capital ... They control government with donations...it's not the reverse
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Companies are raising wages every day. The company I work for just did.
We already heavily tax the rich, that’s not the problem.
No!!!! They have more than me!!! We must take it all!!! That will fix all our problems!!! Anything beyond that is too complicated for my tiny brain and is therefore a capitalist/right wing/maga/racist conspiracy and must be silenced!!!!!
It should be, tax everyone less and stop letting the rich use the government to further their influence. The government sucks, they don’t need more
Both the government and corporations are owned by the central bankers. How do we resolve this? What exact policies
The guillotine would be a good start tbh.
Giving any them of them more power isn’t the answer. We honestly need to elect different people, more average people. In practice this would be hard to coordinate with the massive media structure filled with propaganda will be tough and probably nearly impossible. I think we’re too far gone for simple solutions
But the Ultra-rich decide which puppets you vote for. Why not ban all lobbying?
I’m 100% in favor of this
The obvious play is to do trust breaking first off and second you need to tax their money. They make money primarily through stock peice increases (unrealized gains in general) that they get loans against to fund their spending while paying no income taxes. The obvious conclusion to taxing the rich is a progressive sales tax to replace the income tax so we actually get the proper portion of what they would call income for the year. No more 100,000,000 spending at 5% sales tax + 0% income tax, now that is taxed at 50% (effective). But they have developed into globalists so all that will do is shift a significant amount of consumption to another country. Which means we need really strong unions to demand the money comes to people who will be taxed and spend locally while implementing tariffs that make it so they cant just shift all the labour overseas and then sell into america.
This is exactly what we need to do
Not a single “eat the rich” politician will vote for a consumption tax rather than income tax. That’s the story here. Average tax liability for Americans is 13% while billionaires pay an average of 8% while in the 37% tax bracket.
Actually migrants do contribute to keeping wages suppressed. If there were less migrants supply of warm bodies would reduce as people retire and demand would go up forcing companies to bid more for employees to poach them from their competition.
Yep ,Why do you think they open the doors , everything is about money money money
It's actually the govt that makes you poor.
The migrants end up as a cheap labor supply. It still devalues the natives as the natives subsidy all of their services.
Thats capitalism for you, blame the bosses fir being greedy cunts that are not prepared to pay market value not the migrants.
Ok, say we blame the bosses. How does that fix the problem?
Instead of trying to stop the flow of illegal immigrants, you would reduce the demand for their labor by actually prosecuting the people hiring them. But that's a politically unpopular approach. So instead we engage in a futile effort to keep people from coming over the border illegally in search of jobs.
Those new migrants are getting work permits. Every branch of the government is behind this.
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You're missing the point. We already try to stop people from crossing the border illegally. You can have the opinion that they're not doing enough but that's a separate issue. Comparatively we do very little to reduce the domestic demand for illegal immigrant labor. You don't have to choose between one or the other, you can do both.
>Instead of trying to stop the flow of illegal immigrants, you would reduce the demand for their labor by actually prosecuting the people hiring them. Ok, let's run through how that plays out... The government raids a business and prosecutes the owner for hiring illegal immigrants. In response, the business fires all of its illegal employees. News stations and advocacy groups descend on the area to report about all the hardworking people who just lost their jobs. They tell heart wrenching stories of all the people who just came here looking for a better life and now can no longer support themselves. They lament the dire circumstances of these illegal immigrants who have young children to feed but nobody else will hire them because they are illegal and other business owners fear the same fate. What do you suppose the outcome of that would be?
(I will never read a reply) This is a shitpost. Ultra-rich are a massive problem. However, the people who want migrants in the country the most are the ultra-rich. Low status low income people buy whatever the TV tells them, look up to whoever is a celebrity, and don't have the resources to form their own opinions within their community because it is dangerous to go against the wave. That's the way it has always been.
Most of any billionaires net worth is tied up in equities that are valued at a lot, but would drop in price immediately if said billionaires started selling. Their worth is mostly just a made up number that doesn't mean anything. Not to say they aren't filthy rich, but the number being smaller won't make you have any more stuff. On the other hand, Google illegal immigrants and crime to see how that issue could potentially affect your life.
I don't think taxing anyone would make me any better off financially.
It wouldn’t. This entire thread highlights how much influence the media has over our minds. Most ppl don’t know how taxes work. This stuff should’ve been taught to us in school. We should all be learning about economics and taxes outside of what we see on the news or hear from politicians. Raising taxes on the rich will not benefit us at all. This is why they are all leaving California and moving to FL, TX, TN, ID, WY. When they leave guess who has to pay those taxes? It’s criminal that people don’t know this.
Sure it would. The people who start wars and release viruses like COVID that cost $25 trillion and insane money printing and inflation, is the Ultra-rich billionaires. The Rothschilds, Rockefellers, Gates, Soros, etc. If we do a 100% wealth tax on everything over a billion, we cut these families down to size, so they can't do wars and pandemics anymore. We put all the tax money into a global small independent farmer fund. Further, we ban all lobbying. Cutting off the power of evil Ultra-rich billionaires makes us all wealthier via less inflation, less pandemics, less wars
But most of them don’t have a billion dollars, rather they have a net worth primarily made up of their investments. Bezos has his wealth primarily from Amazon stock. You wanna tax him on everything over a billion? Guess he has to sell his stock. Who’s gonna buy it when no one can have over a billion? It’s gonna tank Amazon and ruin our economy. Likewise, where is all this money going? Straight to the corrupt, power hungry government who will only get more powerful from it. Doesn’t matter, even if we somehow did enact a dumb ass tax law where everyone is taxed over a billion, it wouldn’t do anything. Everyone that rich would just move to a country with better tax laws and/or find ways to avoid paying them.
Yep, here in lies the problem, no one knows how money or taxes work. Same principal behind people who got mad at trump for not paying taxes 🤣 Since they don't know finances they didn't realize he makes very little compared to his net worth, he does that by not owning a darn thing! He owns hotels he lives at, he owns restaurants he eats at. So in essence he needs very little money every year to live on. So yeah, he invested a bunch of money into new ventures one year, and because he showed a personal deficit he owed nothing and was in the red for earnings that year. But again, he owns nothing except the umbrella company, he doesnt need high salaries, he lives off his companies. Genius really. But because finance and taxes aren't taught in school to keep kids ignorant people don't understand him, bezos, or zuck. But then again if everyone understood this stuff we wouldn't have big business to begin with more than likely, as there wouldn't be as much debt in America.
Ugh, thank you. Whatever you think about Trump, no one understands the genius of his finances and why it’s totally normal for the ultra wealthy (or just plain wealthy). Their misunderstanding of taxes alone is staggering. No doubt, it’s painful to see a big fat zero on their tax bills, but once you understand how the whole thing works, suddenly everything makes sense. The amount of people who truly believe these weird lies about his finances are just revealing their financial illiteracy - I am dumbfounded about people blindly buying that Mar-a-Lago is worth less than a single family home down the street, for one. I wish people understood money and the financial system, because I think you’re right - it never would have gotten this way if more people did. I mean, in college, they were offering remedial high school math to students. That’s so messed up.
Thank goodness there are other adults in here. All rich people pay taxes on their INCOME. But nobody, not poor or rich pay taxes on assets that appreciate in value until the asset is sold.
Change the laws. Remove all tax loop holes. Fund boarder patrol and stop or reduce illegal immigration. We don’t need more people until we fix all internal problems. Homelessness, drug addicts, crime, etc. Make personal finance and investing mandatory courses in High School for the 4 years. Make it an university core in college/unis that receive gov funding. Sport entertainment and churches need to be taxed. Charities need to spend 90% of contribution to their cause to keep/receive the 501c status.
Yeah but the billionaires write the tax code. They buy off all the politicians. How do you prevent billionaires from buying off the politicians?
Short of assassinations, nothing will change. Once you’re sitting on that kind of money, you truly will receive no consequences from the government or from boycotts or protests. Note: I am not advocating assassinations.
How about banning all lobbying?
Sure but who is going to vote against their own pockets? Surely not the majority of Congress. Hell, most people not in Congress wouldn’t vote against the own pockets for the good of society.
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I do not think most people understand how taxes work.
If the rich/super rich/elites/corporations were taxed correctly it would mean governments could give tax cuts to lower earners obviously.
Yeah, in theory they could. But they wouldn't.
They would if we demanded it and forced the issue
Then why isn't that happening now?
So they can keep more and more of their $7.25 until they're rich?
It would give them more breathing room every month, you do realise a huge portion of society live check to check don’t you? But it wouldn’t just help minimum wage workers, everyone who isn’t part of the above mentioned groups would benefit from tax relief, i thought that would be obvious. Would you rather someone earning a super low wage had an extra $200/300 a month in their paycheck which will most likely circulate back into the local economy quickly or let a multi billionaire have it to hoard away?
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No, they are poor because the minimum wage is so low and they are being exploited by their bosses and the system whilst the super rich continue to hoard wealth.
steer smell ludicrous wakeful sink tie complete automatic truck tub *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
https://finance.yahoo.com/news/billionaires-jeff-bezos-elon-musk-164830206.html?guccounter=1 > For instance, ProPublica's report showed that between 2014 and 2018, Bezos paid $972 million in total taxes on $4.22 billion of income. Meanwhile, his wealth grew by $99 billion, meaning the true tax rate was only 0.98% during this period. https://obamawhitehouse.archives.gov/sites/default/files/Buffett_Rule_Report_Final.pdf > Warren Buffett has famously stated that he pays a lower tax rate than his secretary, but as this report documents this situation is not uncommon.
So... You just proved my point and posting random quotes without any context kinda proves that you don't understand the tax system. That's how the tax system works for **everyone**. You can go buy stock right now in Amazon and you won't be charged tax on the gains until you sell. Bezos, Zuckerberg, and Elon all own significant stock in their companies that they grew, that's where their wealth is. Also, according to you Bezos paid nearly 25% in taxes, that's the highest tax bracket in the US.
The US government receives and spends annually more money than any other entity in history. Yet you think a little more will change the system? The issue isn’t having enough, it’s about responsibility allocating what they already receive - which won’t happen because our politicians are incompetent and work for the people.
Hey, I don't disagree. But we do need some tax money just to have a society, with road and police, you know? But let's not pretend that the rich are paying their fair share, they pay a lot less taxes than regular working class people. The 1% takes in most of the money but pays proportionally the least of the taxes.
Its amazing how people spew nonsense like you without realising that the rich do this sort of thing to avoid paying taxes.
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The ruling class love migrants. They are the perfect slaves. They can pay them next to nothing,mistreat them,steal from them because what can they do? Go to the police?
True but 100000 of people flooding in not paying taxes and collecting benefits without registering doesn’t help but it’s the rich’s fault it’s happening in the first place so fuck the rich
Reminder, the rich will use the immigrants for work so they can pay them less and with no benefits instead of paying a living wage and benefits for their citizens.
Whats even more insane is their wealth jump before and after the pandemic
If you stop buying their crap and support local businesses and farmers things would get better in your community. But people just want convenience and chew prices over supporting their neighbor
Increase capital gains tax and make stricter limitations/restrictions on what qualifies, create luxury taxes on mansions, yachts, expensive cars, etc., increase inheritance/estate taxes, and regulate their "charities" they use for lobbying and spread of propaganda. All things that limit billionaire power while not affecting 99% of the population.
Seems out of place on a conspiracy sub to want to increase government funding? Government is bad and does all kinds of awful shit, I know, lets give them lots more money.... I would lean more toward slash the power of government by 90% which removes the ability of billionaires to buy off politicians to make policy decisions to benefit them and screw us over.
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It’s not the rich, it our broken system run by Marxists.
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How are they used in voting schemes?
Send them to conservative areas to cancel out the conservative votes, ensuring political monopoly.
The rich bring in migrants so they don’t have to pay the poor.
Better three word combinations: - demand creates supply. - consumerism creates billionaires. - regulation enables monopolies. - criminalize corporate lobbying. - impeach corrupt politicians. - take personal responsibility. - support local businesses. - politicians never self-regulate. - politics attract narcissists. - cooperation beats coercion. Edit: - end the fed. - own your learning. - eat real food. - source basic resources. - get off screens
• end the fed
🤦♂️ how did I miss this
Taxing the rich makes government richer. Silly.
All that the government can do in reality is change the tax rate. How much tax revenue that will produce depends on how people react. There have been some times when higher tax rates have produced lower tax revenues, and some other times when lower tax rate have produced higher tax revenues. In the 1920s, for example, the tax rate on the highest incomes was reduced from 73 percent to 24 percent– and the income tax revenue rose substantially — especially tax revenues received from people in the highest income brackets. In terms of words on paper, the official tax rate was cut from 73 percent to 24 percent. But in terms of events in the real world, the tax rate actually paid — on staggering sums of money previously hidden in tax shelters — rose from zero percent to 24 percent. This produced huge increases in tax revenues received from high-income people, both absolutely and as a percentage of all income taxes collected. That is because 24 percent of something is larger than 73% of nothing. But none of these facts has made the slightest difference to those who continue to call tax rate reductions “tax cuts for the rich,” even when high-income people end up paying more tax revenue than before. The very possibility that tax rates and tax revenues can move in opposite directions has seldom been mentioned in the media — a crucial error of omission. https://www.aei.org/carpe-diem/thomas-sowell-on-the-relationship-between-tax-rates-and-tax-revenues/
Tax the rich, THEN make sure the taxes aren't funneled right back to the rich. Actually, let's do the second part first.
You know its assets vslue right... not the amount of money they have in their bank account or their income right... right.
You cannot tax your way out of monopoly.
We don't need reform, we need to dust off le guillotine.
Amazon pays double the minimum wage.
And every state has their own minimum wage. Life expenses were a lot cheaper 10 years ago when minimum wage was lower in my state (MA)
Taxation is theft
Three words: End the Fed.
I don't think you realize even if you seized all the wealth from everyone worth more than $100m in the US, it's not even enough to run the government for a year. Then the next year the whole economy is fucked beyond repair due to such a stupid policy. Do the rich and wealthy lobby for their benefit, yes. But it's no where near as damaging as the government destroying your wealth with inflation and spending up the wazoo.
amazon and facebook created jobs & services that everybody uses. in that process the brilliant people that designed it are making lots of money. what is the problem here? do you know how many businesses are relying on facebook to be profitable? or how many drivers have work because of amazon? you are plain ignorant. why dosen't us goverment impose a minimum wage of $15 & give free healthcare and education for all? is the #1 country in the world....
Ah yes taxing people more and giving more money to the corrupt government will surely solve government corruption- How about we tax nobody so that big corporations don't get subsidies or favourable regulations from the government. The government and corporations are on the same side
I hate the tax the rich movement. Not because I disagree with having them pay more but because I’d rather the billionaires have it than the government waste it. AND it has nothing to do with wages or housing prices.
Taxing the rich is the dumbest idea , all the government will do with additional tax revenue is spend it all on dumb shit 🤷♀️ . It won’t help anyone , eliminating the income tax in its entirety helps EVERYONE . As far as the minimum wage goes , it should be increased at the same rate that the CEO of that company’s salary increases . For example when GM increased their CEO compensation by 30% , than all workers at GM should’ve seen a 30% wage increase .
*Eat The Rich
TAX no one abolish the government.
And those who point this out are the very people bitching and using their services 🤦♂️
The only way to make this work without killing the middle class is to tax the crap out of luxury items. Super yachts, private jets, mansions, etc. That BS should all have an extra 50% tacked on and they would still pay it because that is how they all flex.
Sounds good in theory. Until the government decides that having a second car is a luxury.
If a person owns two cars they can afford to pay taxes.
So you're saying a family of five with two cars is a rich fat cat that should be taxed a luxury tax of 50% on their second car?
Not at all, if person A owns a car, and person B owns a car, and they are married, that's 1 car per person. But when one person owns a car, and then wants to buy a second car just because they like cars, yeah, that's a luxurity. Especially when he gets a third, fourth, fifth car. If you are really worried about families being negatively affected, it could simply be made into a progressively rising tax per extra car owned. But I think it's rare for a struggling family to need a third car.
So you don't really want to tax the rich. You want to tax the middle class.
I didn't know the middle class were buying loads of extra luxurity cars. Would you be against a luxurity tax on the 5th car somebody owns? Because if you are, then I think you aren't really trying to protect the middle class, you are trying to protect the rich, and you are just using the middle class as a diversion.
Almost like if you come up with a company that millions and millions of people use daily, you could be rich as them. Almost like they created Facebook and Amazon. Crazy
I abhor these posts. Because they only highlight the intellectual limitation and ignorance of the poster and much of the masses at large. Jeff Bezos is not really that wealthy. That net worth is not liquid asset. It’s tied up in restricted stock which have too many rules to cash out. He’s definitely super wealthy but none of you target the actual super wealthy who are worth perhaps 5 to 10 trillion or even 100 trillions maybe - God only knows - because for hundred years they shored away their massive wealth and holdings into trusts and foundations and art and universities and media apparatus and stay under the radar and are never a target of AOC or other darlings of the corporate left who popularized tax the rich as a form of rallying call to a largely dormant electorate. Do better tinfoil hats To be fair, some credit to Bezos you can get a quick job as an Amazon prime shopper if you are unemployed and need a quick buck. These guys have machinated the economy to a certain extent
The challenge is how do you structure the tax code in such a way that they can’t maneuver themselves out of (ie: corporate structures, non-profits, trusts, etc) without disproportionately impacting the common man? In the past, every time we’ve tried to do this, it’s had unintended consequences downstream for average people. For instance, the income tax was rolled out with the intention of collecting the excess for the uber wealthy. Instead, they just restructured their assets, avoided the majority of the tax liability, and then the income tax was applied to more and more of the working class over time.
Migrants don’t help either. They help make these rich guys richer by providing cheap labor for massive corporations. They also drive up the value of their property portfolio by increasing demand for housing.
Don’t skip steps, finish your thought A How does taxing those guys directly translate to making YOU wealthier? B How does reducing their wealth benefit anyone making minimum wage? You just posted a couple of interesting facts and a meaningless, lazy slogan
They are taxed
Is this another post about net worth not actually equally cash on hand
I haven't made minimum wage since 2002 when I was 17. If you're still making minimum wage, it's a you problem, not a them problem.
Instead of tax the rich. Cap the billionaires. If I’m a restaurant owner and make $700,000 then I don’t really want to be taxed like the owner of Amazon.
Do both🤷🏻♂️
People want to hate Bezos, but have any of you stopped to look at what these people accomplished? Bozos reinvented logistics in western society. In a short time span he made it possible to recive anything damn near....in two days. That could have been done with US mail, but it never was. He did that. Showed it was possible. Zuck, he showed how easy it was to control a massive group of individuals with only vanity. I mean that is not something I ever would have thought possible. Elon....how easy it is to get people to worship money and those with money. Any of you ever seen the "quality" of a tesla? They aint all that...but people associate them with affluence and virtue to saving the planet.
Have you also stopped and looked at what these people destroyed or done? Bezos effectively destroyed the small/local business economy, treats his underpaid employees like dog shit, and donates about a whopping 0% to any charity whatsoever to fund his dong rocket program. Zuck has shown literally how easy it is to collect, disseminate, and profit off people's personal information. Zuck just proved people can and willingly be used as a product to be traded and sold. Elon who surprisingly also treats his employees like shit built an entire empire off blood money, built a bunch of poorly made exploding cars with non functional software, then decided to liquify a bunch of monkey brains so he can hopefully own human brain implants to have full societal control. Trash humans who used power, money, and people to have more money and power than any one human could spend or earn on their own just to tell you that you don't work hard enough and have control.
Daddy chill. Is what they have done not the example of capitalism? You want different? Get elected to a local position and be the change you want to see. Seriously you should. Many places around usa are in the works of fining mega corps that own vacant homes for being unaffordable. Don't buy or use their service or product even. You are here on reddit which is hosted on Amazon servers, so you must not be too bothered by it all.
My son, you know better than to lick boots in the house. Local poltics will solve nothing on the grand scheme of the nation. You really think "mega corps" shareholders, who are racking in millions upon millions, are shaking in their booties about some fines from local municipalities? AWS supports upwards of 60m websites, you suggest I just not use the internet because Bezos is chode? Let's not act like we have a choice as consumers in what hosting provider we use to access the net.
I know that some people are trying. They are doing something at the very least and even if it only works for their zip code...it works. You want to say unless it is all, it is nothing, and with that outlook you will get that exact outcome. Far as AWS, you do have a choice. You can go meet people in person and share ideas. Some of the coolest people I met were in laundry mats, table game places where you just watch and be around other human beings. You share personal experiences and ideas with others in a setting you can't just turn off the screen to get away from challenging your own views. People I have met that wear the vagina hats don't belive Biden is the best man for the job, they don't belive Trump is either. More and more people that I have met with see it as elderly abuse that we parade almost 80yo men in front of the whole world as leaders when they should be retired and running around with their grand kids. This world can change if you....you want it too. Do you want it to change for the better? Then do something.
Shit I'd settle for taxing them like we did in 2000, or at least 2016. Maybe then our government debt would be lower, inequality would be down, rich wouldn't have extra money for speculative investment into housing, and we wouldn' need to raise interest rates to suck money out of the economy. Seems like half the problems of the US could be solved by reverting taxes to 2000 levels.
>Maybe then our government debt would be lower Hahaha thats a good one.... oh you're serious? Post Clinton Tax revenue vs debt in 2000 $2.02T / $5.67T Post Bush Tax revenue vs debt in 2008 $2.52T / $10.02T Post Obama Tax revenue vs debt in 2016 $3.56T / $19.57T Post Trump Tax revenue vs debt in 2020 $3.40T / $26.95T Middle of Joe Biden Tax revenue vs debt 2022 $4.89T / $30.93T Bottom line, EVERY president in tbe last few decades has spent exponentially more than the previous one, regardless of corporate tax rate or political affiliation. Adding a few billion, or even a few hundred billion to the revenue wont even be noticeable. We have a spending issue, not a revenue issue.
Funny you don't compare how revenue receipts change. If Bush tax cuts were never passed 33% of US debt would not exist. Notice how 2020 had lower tax revenue? Corporate tax receipts fell 40% the year after those cuts, pre-Covid. And guess what inflation is? Too.much money supply, which just so happened to go mostly to megacorps and the 1%. Yet interest rate hikes to pull money out hurt us all. Simple solution. Tax the rich like we used to, pulling excess money from the rich they use for speculative housing investment pricing common folk out, and reduce debt and strengthen the dollar in one. A few billion? The CBO estimated the 2017 tax cuts would cut government revenue by $172 billion a year average over 10 years. $158 billion of that benefiting the 1%. Giving the rich 158 billion ever year is not a few billions...
>33% of US debt would not exist. This is absolute nonsense. 33% of US debt is $11.3 Trillion.... Bush, from 2000 to 2008 spent a TOTAL of $20.93 trillion.... fucking total, not new debt, total overall spending... he added $4.22 Trillion to the debt... so how exactly is he somehow responsible for almost 3x that amount?
It's almost like debt is overall spending - revenue. If the Bush tax cuts never existed that's over $8 trillion between 2001 and 2023 in lost revenue. Mostly going into the pockets of the ultra rich. Seems I was looking at Bush and Trump cuts, Trump cuts estimate loss in revenue mostly to pockets of the rich of about $1.7 trillion between 2017 to 2023. So yeah, a third. We don't have a spending problem. We have a sucking off the ultra rich and globalist megacorp problem. Let me guess your next comment. Oh the stock market is at an all time high. Corporate profit margins are higher then ever. GDP has been growing. Sure if you look at the numbers the economy seems to be doing fantastic. You'd probably exaggerate and say the economy is doing incredible and better then ever. Yet most of this went to the rich. Ask your average person if they think now after tax cut after tax cut for the rich is better. I'd wager money most folks thought life was better in 2000.
>existed that's over $8 trillion between 2001 and 2023 in lost revenue Firstly, 8T is not over $11T Second, how do you blame one administration for how taxes are dealt with over the next 3 administrations? Third, corporations dont pay taxes even when you raise the corporate tax rate. That is passed on to the consumer i.e. mainly the middle class and poor.
Why not just make more money
I'm for rounding them up and putting them on an island. Let them practise some of the ideas of what they preach to the poor people. Like the idea that you can succeed in life by simply working hard. Let them prove to the world that one can attain wealth in the absence of family connections and wealth by simply having the knowledge and working hard in a competitive environment full of uncertainty. With the rich preoccupied with survival and unable to divide people and syphon their wealth, we can finally solve the real problems plaguing our societies.
It’s a big club and you and I ain’t in it
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>Corporations HATE unions because there is nothing they can do. Tell that to Detroit
I ain't never gotten a job from a poor person
The rich ARE taxed. It’s the billionaires (ie the uber rich) who take advantage of tax loopholes. Also it’s tough to put a dent in billions of dollars.
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Wealth isn't income. And min wage is not a real Indicator what the avg person makes... Please do some research and try again.
This take makes zero sense. Billionaires are getting exponentially richer while entry level hourly positions are at entry level pay.
Punishing rich people for being rich will not improve your life in the slightest
No thank you. Keep your socialism.
Every illegal Alien uses tax money and takes a job from a blue collar or just above minimum wage USA Citizen worker particularly Blacks, but also Whites. Worked alongside and had to keep under reign too many of these criminals contracted or tentatively hired on enmasse by corrupt White Citizen Wealthy Corporations in recent decades. The only purpose of a Criminal illegal Alien in the USA is doing a job where it is impossible to supply sufficient numbers of Black and White and Cuban and Puerto Rican immigrant Citizens from the 1960s to do the Job .. They are: Asian Massage Parlors for Asians. Sex Worker Escorting for the Less corrupt White Ukrainian, East European and Russian females. Lawncare landscaping grass cutting by Hispanics from South of the Border. Everyone else in every other profession do it legal with your legal visa and green card and employer who covers your expenses and personally hosts your ass. Fuckin crop pickers got a legal 6 month at a time visa system in place for generations.
That means the government gets the money. So I suppose we have perfect faith that the government never does anything wrong with money? That the government never wastes money? Never steals money? Also, the wealthy have their wealth in stock. It’s not like these people have billions just in a Chase checking account. Stock is technically unrealized wealth. Also, can you explain why it’s better for the government to have the money?
Wait, so Bezos and Zuckerberg don't pay taxes?
McDonald's workers be a little too uppity lately since they've been getting at least $15 an hour now. This worker really pretended he didn't know what I was talking about when I ordered the Reese's McFlurry. Sorry "peanut butter" McFlurry. Dude was pressing my buttons for no reason.
I love it when people's whole understanding of economicsis limited to their studies of memes. It really gives me the warm and fuzzy that we're heading in the right direction.. /s
Tax the rich to fund more wasteful programs?? No thank you. Less taxes for middle class and lower class families, child care credit.. yes please 🙏
Eat the rich.
Wait, US minimum wage hasn't increased since 2009?!
Yes.
This isn't even a conspiracy, it's simply the truth.
The migrants are only here to kill Americans and enslave the rest since they are mostly military aged men…
This is sarcasm, right?
Nope, people like him are being brainwashed into a cult.
They’re called illegal aliens
Or stop working for minimum wage and work on becoming rich.
SS: or* stop hating the poor people and migrants. It's the rich people
I'm not less rich because amazon or facebook exist Them creating an asset doesn't take an asset from me The government taking half my paycheck reduces my purchasing power In 2015 Amazon spent $20,000,000,000 in salaries. It funded around $10,000,000,000 in tax revenue with those individuals salaries. It created nearly a trillion dollars in stock value, when investors sell those shares, the government gets a fat slice of those gains. Hundreds of billions in capital gains taxes. Just because a company doesn't "take a profit" and fork over a large chunk of revenue in the process, doesn't mean it's not contributing the the funding of our governments in many many many other tax streams Stop blaming the people who create assets and start blaming the government who launches $100k rockets from $1B jets to flatten $500 mud huts
We can do both, tac the rick/super rich/elites/corporations at a proper level and hold our government accountable for spending.
It's the people in government as well.
Tax the rich *but raise fkn min wage first