SeaSnake
OG
Not doing this in the morning. Why you asking that question that you know the answer too. Generally you know the answer
How the Rich avoid paying taxes
- Thread starter Mr.LV
- Start date
Not doing this in the morning. Why you asking that question that you know the answer too. Generally you know the answer
DOS_patos
Unverified Legion of Trill member
So rich or being rich is not subjective?
SeaSnake
OG
it can be but not always. And don’t do that shit where you bring up third world countries and compare it to poor Americans to make a point
DOS_patos
Unverified Legion of Trill member
why not?
See how you rich niggas be.
always looking to detach from those not on your social economic level.
bougie ass nigga
:scust1:
SeaSnake
OG
Now you’re just rambling. Niggas in America should never because somebody got it worse. Damn slave nigga
DOS_patos
Unverified Legion of Trill member
The Lonious Monk
Celestial Souljah
You keep talking about incentivizing for the long term. People don't need major incentives to invest for a long term in a lot of cases. Sure, there are volatile stocks that you can put you money behind and make some quick turn arounds, but a lot of investments, particularly the kind that make people super rich already hold for well over a year. Being able to make millions of dollars from those investments is incentive enough. Again, we're not talking about people skipping meals to try and make quick money of the market. We're talking about people who have large sums of disposable income and have no reason not to put that money in certain investments for longer periods with the belief that it will pay off. Your whole argument seems to be based on the idea that letting the rich pay less tax on capital gains what leads to them making those investments. It's not. Even with a higher tax rate, most of those people would make the same investments because it's those investments that keep them so rich.
The Lonious Monk
Celestial Souljah
You dudes are being super disingenuous now.
It doesn't matter what particular definition you want to have for poor vs rich. The point is that in this country there are people who have tens and hundreds of millions of dollars to spare, and they are able to continue to invest that money in a way that earns them tens and hundreds of millions of dollars more without much work and with less risk than is being implied. There are also people who struggle to pay their bills because inflation keeps those bills going up but wages have stagnated. There is no reason that the latter set of people should have to pay a smaller percentage of their earnings to support the country than people in the former set.
It's crazy that ya'll are in here trying to argue with me about that point. Nobody's talking about fleecing the rich of all they have acquired. I'm saying a person making 40K a year shouldn't be paying 10 time the rate in taxes that someone making 4M is.
The Lonious Monk
Celestial Souljah
Bruh, this is why I laugh at people in here defending these super rich people. They don't even believe the bullshit ya'll are saying. Warren Buffet has been saying for years that the tax rates for rich people are ridiculous. Hell, even Zuckerberg recently came out and said there was no good reason for anyone to be a billionaire. No they aren't just throwing away their wealth or doing things differently, and you can say that's hypocritical, but at the end of the day, it's not on them to refrain from using the loopholes and special treatment they get. It's on the government to get rid of those loopholes and that special treatment.
Mr BFK
Active Member
no my argument is against raising a tax rate period
if u really cared about fairness, u would be just as willing to make the argument that the income tax rate should be lowered to match the capital gains rate
but u instead arguing for everyone to pay more SMH
once again it's not about rich and poor.......it's about u obviously feeling a certain way that others have more money than what u think they should have
and again, the capital gains rate doesn't apply to just those folks of a certain income level.......anybody can invest for the long term and enjoy that rate.....I don't see how u have an issue with that unless u are a pro-govt shill who believes the govt never wastes money and always distributes public resources fairly
what's funny is the rich already pay more taxes in total dollars paid even tho they pay a lesser percentage of their money...........having the higher income tax rate still doesn't make lower income earners pay even a comparable amount of taxes.......plus many of them even get refunds come tax time..........Buffet and Zuckerberg and other mofos like that are just pandering to regular folks when they say shit about being unfair
The Lonious Monk
Celestial Souljah
no my argument is against raising a tax rate period
if u really cared about fairness, u would be just as willing to make the argument that the income tax rate should be lowered to match the capital gains rate
but u instead arguing for everyone to pay more SMH
once again it's not about rich and poor.......it's about u obviously feeling a certain way that others have more money than what u think they should have
and again, the capital gains rate doesn't apply to just those folks of a certain income level.......anybody can invest for the long term and enjoy that rate.....I don't see how u have an issue with that unless u are a pro-govt shill who believes the govt never wastes money and always distributes public resources fairly
what's funny is the rich already pay more taxes in total dollars paid even tho they pay a lesser percentage of their money...........having the higher income tax rate still doesn't make lower income earners pay even a comparable amount of taxes.......plus many of them even get refunds come tax time..........Buffet and Zuckerberg and other mofos like that are just pandering to regular folks when they say shit about being unfair
Why would I be arguing that the income tax be lowered? Does that really make sense to you?
I'm saying that we need certain things in this country. I believe everyone should have free healthcare. I believe we should be trying to give free college to people and free Pre-K. I believe we should have initiatives to fix our crumbling infrastructure and better implement green technologies. I believe we should be exploring reparations and other policy implementation to help black people specifically. All of those things cost money. You're on this kick about people not having to pay taxes. It should be clear to you that I don't believe people shouldn't have to pay taxes. I believe we should have a functioning government that strives to take care of its people, and that will require money.
And yes, the rich pay more in total dollars. No shit. If you have a crapload more money. Of course you'd contribute more. That's why we don't talk about total dollars because that doesn't mean anything. We talk about rates for a reason.
Mr BFK
Active Member
and this is where we really fundamentally disagree
none of those solutions you mentioned are dependent upon raising taxes............the govt has shown repeatedly that it is poor at managing the money we already give it
nothing is saying we couldn't fund all those govt initiatives by just reallocating the tax revenues we give them now..........do we really need a $700B defense budget?
and once again, if u ain't willing to volunteer ur own money without there being a law to force u, why should somebody else believe u really have altruistic motives in trying to raise their tax bill
but I get it now....u are one of those "the govt can save us types" SMH
yet u ignore basic economic principles........we don't need free Pre-K, just look at the failures of the headstart program
we don't need free college......look at the value of the college degree and the current levels of student debt
and u think we should pay more taxes just so the govt can turn around and pay us reparations? haha that don't make sense at all
every example of the govt "helping" has actually brought more harm to the same problems u believe the govt should be fixing......and those are just a few examples I gave
it was never about "fairness".......u just a naive view of how u believe the rich should be held more responsible for everyone's social problems
The Lonious Monk
Celestial Souljah
We don't really disagree that the government is poor at managing money. I believe you're right that some money that exists could be reallocated, and people like Bernie Sanders did advocate for things like decreases in the defense budget to fund some things. However, not everything that the country needs can be funded solely based on the money the government takes in now especially if we have the goal of lowering the national deficit and debt. Those things would require increased tax revenue, and the natural place to get that is from the rich, who don't really pay the taxes they should anyway.
So yeah, the government needs to do a better job, but it's not really incompetence that is the cause for those problems. It's corruption. The same corruption that allows the government to constantly give tax cuts to rich people even though we have historical and academic proof that it's bad for the country.
So yeah, the government needs to do a better job, but it's not really incompetence that is the cause for those problems. It's corruption. The same corruption that allows the government to constantly give tax cuts to rich people even though we have historical and academic proof that it's bad for the country.
Mr BFK
Active Member
I'd would love to see this academic proof u speak of
cuz it seems like the real problem has always been bad policy decisions that get us into the kind of debt the govt has now
taxing the "rich" more won't fix it because the standard of being rich is arbitrary..........plus u would just be giving more money to people who obviously are terrible at managing it
u wouldn't keep going to a financial advisor and giving him more money when he just keeps losing it and still keeps charging u a higher fee every time
that's basically what u are advocating that taxpayers should do in this instance by raising the cap gains rate
IMO the cap gains tax rate is one of the few tax policies the govt actually got right.........anybody can take advantage of it at any income level, but it seems u keep skipping over that
now I'm also someone who believes we should have a 99% estate tax rate.........but if u are alive, then u shouldn't be forced to be taxed at a whim by an entity that has already been shown to be a poor steward of resources
I don't see how anyone who truly believes in fairness would support that......that's why I'm skeptical when people complain about something that is actually beneficial to everyone who invests
The Lonious Monk
Celestial Souljah
Trickle-down economics just doesn't work, and this study shows it (zmescience.com)
There you go. That addresses just one study. Again, government mismanagement is problematic, but all governments have that problem. There's a reason why America is lagging behind other developed nations. It isn't government mismanagement. It is the commitment of the government to serving the interests of the rich to the detriment of everyone else.