"Tax the Rich"

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:40% of US households don't pay any net federal income tax. Zero. And I am sure they are among the ones calling for the others to pay more

Disingenuous. There's a 15% tax starting from their first dollar of income.

There's not even a 15% tax bracket in the US. 10% from $0-11,925 (single fileer), 12% $11,926 – $48,475
22%: $48,476 – $103,350. Where's this 15% you come up with?

Standard deduction is $15,750 for single filer.

You don't seem to understand the tax system. Hint: there are income taxes that don't go by the name "income tax".

Not really. I wouldn't consider payroll taxes an "income tax" just because they are deducted from one's paycheck.

Doesn’t matter what you “would consider” darling. Facts is facts.

OASDI is a Federally mandated life annuity with right of survivorship (a lousy one for higher income earners…) it doesn’t fund the real government and Medicare is just paying for your own old age health insurance (and it’s much more expensive for higher earners).

And half of your other federal taxes just go to a federally mandated security service. What's your point? Taxes are taxes. Federal programs are federal programs.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:40% of US households don't pay any net federal income tax. Zero. And I am sure they are among the ones calling for the others to pay more

Disingenuous. There's a 15% tax starting from their first dollar of income.

There's not even a 15% tax bracket in the US. 10% from $0-11,925 (single fileer), 12% $11,926 – $48,475
22%: $48,476 – $103,350. Where's this 15% you come up with?

Standard deduction is $15,750 for single filer.

You don't seem to understand the tax system. Hint: there are income taxes that don't go by the name "income tax".

Not really. I wouldn't consider payroll taxes an "income tax" just because they are deducted from one's paycheck.

Doesn’t matter what you “would consider” darling. Facts is facts.

OASDI is a Federally mandated life annuity with right of survivorship (a lousy one for higher income earners…) it doesn’t fund the real government and Medicare is just paying for your own old age health insurance (and it’s much more expensive for higher earners).

And half of your other federal taxes just go to a federally mandated security service. What's your point? Taxes are taxes. Federal programs are federal programs.

One is effectively enforced savings for oneself, the other is for general public use.

[Anonymous]

Anonymous wrote:We are in the same situation. We live in Rockville so we pay taxes for Rockville, Montgomery County, Maryland, as well as the federal government.

I think the thing is the billionaires need to be taxed. And not have all those loop poles. It would not make one difference in their lifestyle to increase their taxes and it would make such a difference to America's budget.

Or stop paying for your politics!

[Anonymous]

Anonymous wrote:I paid $8 M in federal estate taxes last year.

So you’re dead?

[Anonymous]

Anonymous wrote:I paid $8 M in federal estate taxes last year.

There are all kinds of trusts and other strategies to avoid this. Seems like it would have been worth it for your parents to have spent say $200k to set this up, considering based on the amount of tax paid the estate was probably like $50MM

[Anonymous]

Trickle down economics doesn’t work. Lower tax rates have led to increasing gaps between the haves and the have nots. It will only continue to get worse. Society is fraying because of it. We need to raise taxes. It ultimately benefits everyone because it benefits society.

[Anonymous]

We could also make business pay actual taxes instead of continuing to tax people so much. I'm all for taxing rich people but the corporate tax situation is dire.

[Anonymous]

Anonymous wrote:We could also make business pay actual taxes instead of continuing to tax people so much. I'm all for taxing rich people but the corporate tax situation is dire.

I'm skeptical of corporate taxes. It seems like it would be too easy for them to move their profits around. They eventually go to people. Tax them there. Get rid of the special treatment of capital gains and tax it like other income.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We are in the same situation. We live in Rockville so we pay taxes for Rockville, Montgomery County, Maryland, as well as the federal government.

I think the thing is the billionaires need to be taxed. And not have all those loop poles. It would not make one difference in their lifestyle to increase their taxes and it would make such a difference to America's budget.

You also pay MD state income taxes, don't forget those. Those are particularly annoying because there are few tax-efficient strategies at the state level.

As for billionaires, a lot of their money is in wealth not income, and our tax system is based on income.

They also happen to be highly mobile, so they will move to better tax jurisdictions. Higher taxesin MD and MoCo have caused the wealthy to leave and decimate the tax base:
https://montgomeryperspective.com/2025/04/11/marylands-wealth-drain-part-six/

RW Montgomery perspective how glorious you don't undertstand that.

Hogan passed on MD's debt. Brought zero business to MD and stole $2 million from taxpayers, funnelled monies to his own real estate company in his second term he learned everything from piggy boy. As usual Republicans try to rewrite the failings of Republicans. Red states are fully owned by red legislatures and governors amazing how they have always been at the bottom of education and never vote for anything that helps their own state taxpayers.

+1

[Anonymous]

Anonymous wrote:We do well. I am not complaining and feel very fortunate to have two very good paying careers. But we just did our end of year tax analysis with our CPA and our effective tax rate when adding federal plus DC taxes is 45% (36% federal, 9% DC and DC is only "low" because a lot of our income is through a DC C-Corp which is taxes slightly lower at 8.5%).

45% of our income going to taxes. Nearly half of what we take home. And yes -- we are utilizing every single tax strategy under the sun available to us and work with a very good CPA.

So let's change the complaint from "tax the rich" to "tax the billionaires" because the regular rich are playing PLENTY in taxes already. Sigh.

Some lawmakers are only focusing on billionaires and working on a minimum tax. The average billionaire pays 24% in federal taxes.

Trump gets kickbacks from the billionaires. In exchange for large donations they got the biggest tax break and jobs they aren’t qualified in.

Examples from Forbes Magazine are Linda McMahan gave $16 million to Trump groups
And Miriam Adelson, Israeli citizens gave Trump groups $5.8 million.

Billionaires , especially in high tech line up to hand over money to Trump in exchange for favors and favorable regulations to keep virtually all their money, almost tax free.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We are in the same situation. We live in Rockville so we pay taxes for Rockville, Montgomery County, Maryland, as well as the federal government.

I think the thing is the billionaires need to be taxed. And not have all those loop poles. It would not make one difference in their lifestyle to increase their taxes and it would make such a difference to America's budget.

You also pay MD state income taxes, don't forget those. Those are particularly annoying because there are few tax-efficient strategies at the state level.

As for billionaires, a lot of their money is in wealth not income, and our tax system is based on income.

They also happen to be highly mobile, so they will move to better tax jurisdictions. Higher taxesin MD and MoCo have caused the wealthy to leave and decimate the tax base:
https://montgomeryperspective.com/2025/04/11/marylands-wealth-drain-part-six/

Buh-bye! Don't let the door hit you in the way out.

That attitude is exactly why many of the wealthy left.. and the result is putting more of the tax burden on everyone else.

It's why everyone in MD now pays about double what they used to in car registration fees, and emissions testing fees, and why people in MoCo have to pay for parking garages on Saturdays, for example. It's also why everyone in MD now pays a 3% "digital services tax" on their Netflix subscription, for example.

Let's see some evidence for these claims.

When Massachusetts enacted a "millionaire's tax" on the wealthy (4% surtax on income over a million dollars), lots of spoiled rich people threatened to leave. And probably some did. But it hasn't been the exodus that some thought it would be, and 2 years later, the revenue generated by the tax has been more than twice what had been expected. In the first year alone, $2.5 billion was collected.

TAX THE RICH. Make them squeal like the pigs they are.

https://www.wbur.org/news/2025/04/28/massachusetts-millionaires-tax-institute-policy-studies-newsletter

NYC Mayor is proposing a 2% surtax on income over $1 million dollars. Half of Massachusetts tax but people will still cry.

Red states have too many people who vote against their own best interests.

[Anonymous]

Taxes is theft plain and simple.

The rich have money to spare and taxes doesn't affect them.

If things were FAIR, then anyone making less than 100K a year and owning less than 2 million dollars of real estate, would have to pay ZERO TAXES.

[Anonymous]

Anonymous wrote:Taxes is theft plain and simple.

The rich have money to spare and taxes doesn't affect them.

If things were FAIR, then anyone making less than 100K a year and owning less than 2 million dollars of real estate, would have to pay ZERO TAXES.

So much of this post is insane... But mainly, no, taxes are absolutely not theft. Think of them as a membership fee for being part of a society.

[Anonymous]

Anonymous wrote:Trickle down economics doesn’t work. Lower tax rates have led to increasing gaps between the haves and the have nots. It will only continue to get worse. Society is fraying because of it. We need to raise taxes. It ultimately benefits everyone because it benefits society.

"We must take more of your money for your own good so you don't have economic wealth gaps!"

HAHAHAHHAHHAHAHHA

I guess if everyone is poor, that's "equality" right comrade?

But remember the pigs in Animal Farm? Those were the deepstate government politicians etc.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Taxes is theft plain and simple.

The rich have money to spare and taxes doesn't affect them.

If things were FAIR, then anyone making less than 100K a year and owning less than 2 million dollars of real estate, would have to pay ZERO TAXES.

So much of this post is insane... But mainly, no, taxes are absolutely not theft. Think of them as a membership fee for being part of a society.

Fk your country club then elitist. You can shove your memberships.