"Tax the Rich"

[Anonymous]

Anonymous wrote:

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.

Why are you so bitter against high income earners? Seems like you made a decision to not work in a field with a high earning potential and that is on you.

[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.

By this logic, everyone should pay for membership. But that's not how our tax regime works. It penalizes the most productive and successful in order to benefit those who contribute the least productivity, for no apparent reason. It also distorts the economy and markets through ever-changing government efforts to apply social engineering through a system of tax-related incentives and disincentives, causing people and businesses to engage in behaviors they otherwise would eschew.

A fair system would be a flat tax where everyone, regardless of income, pays the same rate. People with higher incomes pay more, lower incomes pay less, everybody pays and feels the same amount of relative pain. The inefficiencies inherent in our convoluted system of deductions, income brackets, credits, and exemptions could be instantly eliminated.

[Anonymous]

Anonymous wrote:

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.

By this logic, everyone should pay for membership. But that's not how our tax regime works. It penalizes the most productive and successful in order to benefit those who contribute the least productivity, for no apparent reason. It also distorts the economy and markets through ever-changing government efforts to apply social engineering through a system of tax-related incentives and disincentives, causing people and businesses to engage in behaviors they otherwise would eschew.

A fair system would be a flat tax where everyone, regardless of income, pays the same rate. People with higher incomes pay more, lower incomes pay less, everybody pays and feels the same amount of relative pain. The inefficiencies inherent in our convoluted system of deductions, income brackets, credits, and exemptions could be instantly eliminated.

"everybody pays and feels the same amount of relative pain."

That's exactly how you get tax brackets. 30% for people making more than 1M/yr does not materially impact the quality of life. But 30% on someone making 50k has a massive impact on the ability to do basic things in life.

You seem to be making a moral argument for progressive taxes but then asking for a regressive tax system. That doesn't work.

[Anonymous]

Anonymous wrote:

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.

By this logic, everyone should pay for membership. But that's not how our tax regime works. It penalizes the most productive and successful in order to benefit those who contribute the least productivity, for no apparent reason. It also distorts the economy and markets through ever-changing government efforts to apply social engineering through a system of tax-related incentives and disincentives, causing people and businesses to engage in behaviors they otherwise would eschew.

A fair system would be a flat tax where everyone, regardless of income, pays the same rate. People with higher incomes pay more, lower incomes pay less, everybody pays and feels the same amount of relative pain. The inefficiencies inherent in our convoluted system of deductions, income brackets, credits, and exemptions could be instantly eliminated.

A flat percentage doesn't mean people would feel the same amount of "pain." Not even close. Someone living at or near poverty is going to feel a lot more pain at any percentage than someone making $500k, for instance.

It also doesn't fully factor in that high income individuals are benefitting much more from the programs, services, and stability provided by government.

But, perhaps the biggest issue is that many people that claim to want a flat tax rate don't really want a flat rate when you dig into it. They want the federal income tax to be flat, while keeping the other taxes in place that tend to be regressive- sales tax, payroll taxes, capital gains, etc.

[Anonymous]

Anonymous wrote:

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.

By this logic, everyone should pay for membership. But that's not how our tax regime works. It penalizes the most productive and successful in order to benefit those who contribute the least productivity, for no apparent reason. It also distorts the economy and markets through ever-changing government efforts to apply social engineering through a system of tax-related incentives and disincentives, causing people and businesses to engage in behaviors they otherwise would eschew.

A fair system would be a flat tax where everyone, regardless of income, pays the same rate. People with higher incomes pay more, lower incomes pay less, everybody pays and feels the same amount of relative pain. The inefficiencies inherent in our convoluted system of deductions, income brackets, credits, and exemptions could be instantly eliminated.

Notwithstanding your obviously incorrect assertions that high income earners are necessarily productive and low income earners do not contribute to society, paying your f—king taxes for the benefit of a country which has allowed you to be financially successful, (relatively) healthy, and (relatively) safe IS NOT A PENALTY!

I really wish we could round up all of you “self-made” producers and drop you off in Somalia. Let’s see how productive you are then.

[Anonymous]

Who here thinks they aren’t paying enough taxes?
Solution- pay more voluntarily. The government won’t complain.

[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.

No, it isn’t. Please learn the difference between marginal tax rate and effective tax rate.

Or, if it actually is, consider yourself incredibly blessed and privileged to contribute in this way to society. And also, kindly shut the eff up.

[Anonymous]

Anonymous wrote:I honestly think the tax code should be significantly less progressive than it is. The vast majority of people in this country pay almost no federal taxes at all. They have no skin in the game! They literally could not care less if the pentagon wastes trillions or we fund stupid unnecessary projects.

I've love to see a flat tax on ALL americans and on ALL incomce (including capital gains and dividends)

So why do you hate America then?

[Anonymous]

Anonymous wrote:

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.

1. Don't live in DC.
2. Nope.

-- someone who works in tax policy

What abt MD?

[Anonymous]

Anonymous wrote:

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.

No, it isn’t. Please learn the difference between marginal tax rate and effective tax rate.

Or, if it actually is, consider yourself incredibly blessed and privileged to contribute in this way to society. And also, kindly shut the eff up.

OP literally wrote *effective* tax rate because they do understand the difference. They make >3M/yr.

https://smartasset.com/taxes/income-taxes

Put in 3M, pick DC, and look at the table below. The effective rate is 48% overall.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

No, it isn’t. Please learn the difference between marginal tax rate and effective tax rate.

Or, if it actually is, consider yourself incredibly blessed and privileged to contribute in this way to society. And also, kindly shut the eff up.

OP literally wrote *effective* tax rate because they do understand the difference. They make >3M/yr.

https://smartasset.com/taxes/income-taxes

Put in 3M, pick DC, and look at the table below. The effective rate is 48% overall.

38% is what I get.

[Anonymous]

Anonymous wrote:Who here thinks they aren’t paying enough taxes?
Solution- pay more voluntarily. The government won’t complain.

Who here thinks they’re being taxed at too high of a rate?
Solution - earn less income voluntarily. The corporations won’t complain.

[Anonymous]

No one should earn more than $300k per year. We need to tax the UMC.

[Anonymous]

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

No you did not. Unless you are posting from beyond the grave.

[Anonymous]

Anonymous wrote:No one should earn more than $300k per year. We need to tax the UMC.

This has to be sarcasm..no one that is sane could say something so foolish