Report: Tax Returns of the Top 25 Wealthiest in America

[Calfredd]

No, that would be the people who oppose liberty.

Marry whomever the fuck you like, the government shouldn't stop you.

Thanks for pointing out just how fucking consistent I am.

A poor-hating, oligarch-following, anarcho-capitalist?

[Mihalik]

The increase in a companies value should not mean an increase in income tax nor should it going down give them a tax break. They have just as much stock as they did before as a percentage of ownership in the company.

The money on it should be taxed when it is sold as income (Minus what they paid to purchase it to begin with) and the dividends off it should be taxed as income. The only time it should be treated as actual income for tax purposes is when it actually changes hands whether through them selling it or another inheriting it or anything along those lines. But it shouldn't be taxed directly until it changes hands.

The core issue is that the chain of "buying stocks with money, selling stocks for money and using that money to buy other things" has been broken. People at those wealth levels no longer ever convert their assets into taxable liquidity. They aren't even paid in taxable money anymore.

A system was created where wealth at those levels is effectively tax exempt and nearly all financial interactions are done through tax exempt mechanisms.

[Machismo]

Anyone seen Queens Gambit? The 10 year old taking on the entire high school chess club all at once and checkmating them all in 1 hour 20 minutes, they accepting defeat while she goes and eats chocolate back at the orphanage? This thread is like the complete inverse of that.

I have no problem standing alone against a bunch of people calling for socialism and communism.

[Themius]

What tax dodging?

Are you still pissed that his wealth isn't taxed?

He didn't make a company, he made THE COMPANY WE'RE TALKING ABOUT.

Making a company doesn't matter the moment your company can be run entirely without you and is 100% reliant on people who work at the company and without you... would still run the company

[Machismo]

Making a company doesn't matter the moment your company can be run entirely without you and is 100% reliant on people who work at the company and without you... would still run the company

Great, then he can semi-retire, and enjoy the fruits of his labor and ingenuity... to the tune of $170 billion in stock.

[beanman12345]

I have no problem standing alone against a bunch of people calling for socialism and communism.

You also have no problem being checkmated by them fairly quickly either and rather easily either, till another comes along to repeat the process. Whatever floats your boat.

[Mihalik]

Their income is largely tied into the stocks of the companies they built, and started.

To tax that, is to take part of that company away.

They are still taxed when they sell that stock, just like you and I are.

It already been explained to you that it's not "taking their company away". Having to liquidate some of your assets to meet your financial (in this case tax) obligations is not "taking someone's wealth away".

And for the 100th mother fucking stupid fucking goddamned fucking time.

THEY NEVER FUCKING SELL THEIR STOCKS BECAUSE THEY DO NOT FUCKING NEED TO DO SO TO HAVE ACCESS TO SPENDABLE LIQUIDITY. They have effectively created a closed economic loop where they can spend whatever amount of money they fucking please, buy whatever the fuck they please without ever fucking having to pay any fucking taxes on basically anything.

[D3thray]

Taken together, it demolishes the cornerstone myth of the American tax system: that everyone pays their fair share and the richest Americans pay the most.

Our analysis of tax data for the 25 richest Americans quantifies just how unfair the system has become.
By the end of 2018, the 25 were worth $1.1 trillion.

----
Society needs to collapse to get any meaningful changes.
...and maybe a guillotine.

Ok Robespierre

[Calfredd]

I have no problem standing alone against a bunch of people calling for socialism and communism.

Anything looks like socialism and communism when you are far-right Mr. Joseph McCarthy.

[D3thray]

I don't much care if that offended you. It was pointing to the authoritarian nature of both parties.

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Then. Stop. Using. Them.

It's that easy. You can just shop elsewhere, which is why capitalism is so fucking fantastic.

Gotta love the anarcho-communists complaining while they sip soy lattes from Starbucks

[Calfredd]

Gotta love the anarcho-communists complaining while they sip soy lattes from Starbucks

I didn't know Joseph McCarthy had 2 accounts here!

[Endus]

But, you know yo9u'll never make that much, so you are staking a claim with no risk involved.

That's like me saying if I were an Olympic swimmer, I should be taxed into oblivion.

The problem is with liberty, and your attack on it.

Taxing the wealthy is not an attack on liberty.

It's taxing it twice on the same product, once while owning it, and once while selling it.

And?

You pay property tax while owning a piece of real estate, and capital gains tax when you sell it.

This is how taxes work. You're calling for a special exception, based on nothing.

I have no problem standing alone against a bunch of people calling for socialism and communism.

Oh noes, socialism.

Scary, people might actually enjoy civil liberty and an economy that exists to support them, not exploit them.

[D3thray]

Maybe he shouldn't have that much ownership? Maybe most of his company should be owned by the people that make the company run?

I mean if they want to be paid in stock options like him then sure that makes sense. Let’s see how many stock options it takes to buy a can of soup at the grocery.

[Huehuecoyotl]

As for the subject at hand, this is all a push to redistribute wealth.

So are you against capitalism then? Because that's basically just a push to redistribute wealth, from the average person into the pockets of the people that own capital.

You'd think you'd be arguing against the status quo as strongly as you are against changing the status quo if it was purely about disliking redistribution. But you appear to have an issue primarily with distributing it away from somebody who's rigging the entire economy to ensure as much of it as possible goes into their own pockets. Perhaps you can explain that? Are you one of those temporarily embarrassed millionaires that we hear so much about when it comes to supporting the "American Way"?

[Machismo]

You also have no problem being checkmated by them fairly quickly either and rather easily either, till another comes along to repeat the process. Whatever floats your boat.

You agreeing with them isn't a checkmate, mate.

[uuuhname]

Gotta love the anarcho-communists complaining while they sip soy lattes from Starbucks

hey it beats whatever peyote you guys chew on in the lalaland you exist in.

most of us simply want the capitalist system you pretend to know or understand to function better for the most people. but hey let us know how communist Europe is while the rest of the world laughs at you.

[Zan15]

It's taxing it twice on the same product, once while owning it, and once while selling it.

.

Great can i get back some of my decades old triple taxation on my car?

Once when i brought it, twice when i owned it (every year), thrice when i sold it.


and you are saying double taxation, for which its not, is bad....sure if i use your definition everyone else is double-triple taxed on things.

[beanman12345]

You agreeing with them isn't a checkmate, mate.

K, I'm gonna go back to lurking watching you get easily checkmated every single time, while you pretzel yourself in denial.

[Machismo]

So are you against capitalism then? Because that's basically just a push to redistribute wealth, from the average person into the pockets of the people that own capital.

You'd think you'd be arguing against the status quo as strongly as you are against changing the status quo if it was purely about disliking redistribution. But you appear to have an issue primarily with distributing it away from somebody who's rigging the entire economy to ensure as much of it as possible goes into their own pockets. Perhaps you can explain that? Are you one of those temporarily embarrassed millionaires that we hear so much about when it comes to supporting the "American Way"?

Nope, swing and a miss.

I oppose corporatism just as much as I oppose socialism.

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Great can i get back some of my decades old triple taxation on my car?

Once when i brought it, twice when i owned it (every year), thrice when i sold it.


and you are saying double taxation, for which its not, is bad....sure if i use your definition everyone else is double-triple taxed on things.

Sure, you're speaking to the choir.

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K, I'm gonna go back to lurking watching you get easily checkmated every single time, while you pretzel yourself in denial.

Good luck with that!!!

[Zan15]

He fucking started it. It's his company, or at least $170 billion worth.

Multiple people have called for nationalization of it.


Calling to take all but a billion dollars, when they have $170 billion in stocks.. is taking that company away.

"Some"

umm i am a little late to the party, but the vast majority of amazon is not owned by Bezos.

They could take all 170 billion in stock from him and they would own what, 8% of amazon? that's hardly a nationalization of amazon