The only problem with progressive tax that there isn't a tax base for the Uber wealthy those that make over $100 million dollars a year, those that don't actually pay anything it's up to us the regular people the citizens that pay almost a half in taxes
7 Comments
Flagstaff@programming.dev · 13 pts · 1y
You may want to edit your post title (you can do that in Lemmy) to "tax."
Worthess@discuss.online · 1 pts · 1y
Thank you, much appreciated
Flagstaff@programming.dev · 1 pts · 1y
But... the title hasn't been edited still, haha.
Worthess@discuss.online · 2 pts · 1y
Brain fart, appreciate the heads-up, thanks.
jordanlund@lemmy.world · 5 pts · 1y
In theory, they should pay the maximum rate, 37% for individual single taxpayers with incomes greater than $626,350 ($751,600 for married couples filing jointly).
So, for someone like Bezos, with an annual income of $1.6 million, he would pay 37% on everything above 751,600... so $313,908.
BUT - most of his money isn't salary, it's stock, and that has it's own capital gain tax.
HOWEVER - none of this actually matters, because the ultra, ultra wealthy have an entire system that ensures they pay nothing.
Great books on the topic, I wish more people would read them, you average red-hatters have no idea how their future is being stolen from them. The average Republicans making $500K to a couple million, have no clue that they are seen as chumps just as much as anyone else.
https://www.penguinrandomhouse.com/books/291700/perfectly-legal-by-david-cay-johnston/
https://www.penguinrandomhouse.com/books/300246/free-lunch-by-david-cay-johnston/9781591842484/
https://www.penguinrandomhouse.com/books/305192/the-fine-print-by-david-cay-johnston/9781591846536/
Telorand@reddthat.com · 4 pts · 1y
Tax unrealized gains.
Worthess@discuss.online · 2 pts · 1y
It's a lot of English to describe way to avoid being taxed if I make $12,000 a year and I paid $4,000 in taxes That's a tquarter of my income. But if I make $12 billion dollars and I pay for $400 million it's a lot less. I'm getting tired of hearing from people that seem to make a lot more money and set for less there isn't any reason why we have to disagree about a roof over our heads and food on her table this is the American dream