I think the problem is, thats not just in the usa, that happens everywhere...
No they are not go look at the tax brackets their tax much higher. Rich people pay like 50-60% of their income in taxes.
@zerofuks that's not true for the usaTrump gave massive tax cuts to the rich, which punished the poor
Actually that's because of the difference between Types of taxes not because they magically get a lower tax rate.They are 2 types of income in America earn income and unearned income. When you go work for someone that is earned income. When you own an asset or really anything that increased in value and sell it the profits is considered unearned income. This is where the difference comes in. This is just for the federal level. Earned income top tax rate is 37% Plus social security and medicare.Unearned income tax rate top is 20% You do not have to pay social security and medicare on it. And in truth 44% of Americans who are poor don't even pay federal income tax because they make too little it's actually poor people not paying taxes. Let's take Jeff pieces for example because he was said in the beginning. He only gets paid $80000 a year. But he also sells assets from holding Amazon stock from the very beginning. So on the $80000 a year because of the income from the stock he pays 37% plus social security and medicare on that.All the money he gets from the stock he pays 20%. The fact this it's poor people not paying taxes not rich. But people don't understand our tax code they just yet rich people pay less
Also go read about what trump's tax cuts did it. It wasn't a tax cut for rich people. It was a tax cut for the middle class also depending on the stately live in rich people under trump plan paid more.All trump did was double the standard deduction and limit salt deductions to $10000. So if you are rich and live in a high tax state. It was actually a tax increase. Because of the salt deduction rule change. Used to be unlimited amounts they were able to write-off so if you paid $50000 in state income tax you write it all that off your federal tax saving money. Trump limited that to $10000 it was actually a tax increase for many rich people because of this.It's quite funny how few people actually understand our tax code or what going on
@zerofuks the metric is effective tax rate, which is the best measure of taxation. It averages out the different rates to give you a generalization. Did you see the graph? The rich contribute less % than the poorest 1/2 of america, and that is absolutely criminal. www.investopedia.com/terms/e/effectivetaxrate.asp
Are you saying the graph published in a business journal is wrong or misleading? Trump absolutely cut taxes for the rich.www.forbes.com/.../#48b493373128This is a conservative website too... are you saying Forbes is wrong? And Trump didn't cut taxes to billionaires?
they pay more because 44% of Americans don't pay federal income tax. The top 1% actually pays like 40% of the taxes. You're just upset the government is not taking all their money to bring them down to your level. It's basically just envy. It's clear you don't understand our tax code I even proved it by explaining how you have no clue what you're talking about rude especially with the whole trump increased taxes on poor people.www.marketwatch.com/.../44-of-americans-wont-pay-any-federal-income-tax-2017-04-17www.ntu.org/.../who-pays-income-taxes
@zerofuks You said Trump didn't cut taxes to the rich. There is a forbes article (conservative business paper) saying he did. Who do I believe you, or Forbes magazine?www.forbes.com/.../#48b493373128
That article is very misleading look how it's only talking about 400 people. And it has nothing to do with trump taxes cuts for the middle class. It's always been true for decades if all your income comes from under earn income you pay a lower tax rate I explained the tax rates in my 1st comment to you.They're just got using people who don't understand our tax code and the different types of income. Let's say you made $40000 a year but it was all unearned income you will pay 0% taxes. It's been this way for decades. They're just confusing people who don't understand the different types of income to push the narrative that is false
@zerofuks Wait no moving the goal post. You said Trump didn't cut taxes to the rich. The 400 richest people received HUGE tax cuts from Trump... either Forbes or you are wrong. Who is wrong?
Again you're not understanding he did not cut taxes it's always been that way. The reason why they could say they pay a less percentage in taxes is because the different types of income are taxed at different rates are you not even reading my full comment?
@zerofuks Stop dodging the questionDid Trump cut taxes on the richest 400 people in America? Yes or No?Did he give tax breaks to people who already have insane amounts of money?
For the most part no because all he did was double the standard deduction and limit salt deductions to $10000. The tax code has always been like this you always pay less on unearned income for decades. If you were writing off more than $10000 on salt deductions Basically Living in a state with a high state income tax or does having a very expensive property so a ton in property taxes you actually pay more.So actually he increased taxes on the very rich because who's the most likely to be paying tens of thousands of dollars in state income tax and property tax?
@zerofuks that's not correct at all, Trump reduced the effective tax rate on the richest 400 people so they pay less on average than the lowest 50% of Americans. And you said he didn't? You're smarter than the economists at Forbes magazine? WTF?
Again he did not do that all he did was double the standard deduction and limit salt deductions go read literally what he did not just your imagination.44% of Americans don't even pay federal income tax so you're just not counting them Because they pay around 20% not 0.Actually Forbes is just confusing people who don't understand our tax code and different types of taxes for different types of income. Like I said it's a been like this for decades if your income comes from unearned income you pay far less. It's 20% tops rate versus 37% Plus social security and medicare.So yes they do pay a smaller percentage but that's because it's a different type of income anyone with that type of income pays the same tax rates Like I said earlier for example if you made $40000 on income you would pay about $3k. But it that same amount was unearned you would pay 0. This is what they're talking about their just confusing people who don't understand our tax code to make it look like rich people just pay less just because they're rich it because it's a different type of income tax
You tax earnings not wealth creation.
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By paying under minimum wage, tax heaven laws, subventions, daughter-companies of daughter-companies to look good...My friend, thats not wealth, thats fraud and criminal...Look, there are even companies which get paid to put your company ownings over different states and daughter companies to save millions in tax money... which poor people can't do, rich do that every day with every company they ownThe problem is, ther is no goal behind, besides their own greed...Whats in for mankind, for what do we have governments for, they got their place to prevent rich people to take control about things they shouldn't be in control...
It's clear you have no clue what you're talking about you're just saying random stuff nothing even applies to what I said. Amazon does not pay under minimum wage actually pays starting $15 an hour. Are you think moving to a state with lower state income tax is a tax haven law now? So basically you're envious and what the government to come in and take stuff from people who had more than you because you're full of envy.
You literally just claimed Bezos doesn't work for his money. How resentful must you be to say such a thing. Incredible.
Sometimes almost literally in the case of massive inheritance 🤣
How do you then think its possible for bezos making more in an hour than you could in your lifetime
I don't care. I'm not worry nor envious of another man's money.