President Biden says that 3,500,000,000,000 equals 0.

[Pete F.]

Originally Posted by Jim in CT

there are rare exceptions. people
who get richer by stealing or by exploiting customers’ desperation, didn’t create their wealth fairly IMO.

Most wealthy people don’t that category. Duh. So the argument works in almost every single case. i support laws which prevent price gouging in healthcare.

My CEO is close to being a billionaire. I don’t spend a second thinking about it, his extreme wealth doesn’t effect me, nor does it interest me. you’re obsessed with it.
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So they are rare, except in healthcare, you know your CEO is close to a billionaire without thinking about it for a second.

Sounds like a lot of assumptions, like yours that only liberals are concerned about changes in markets and logistics that affect how our society works.
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[Jim in CT]

Originally Posted by Pete F.

So they are rare, except in healthcare, you know your CEO is close to a billionaire without thinking about it for a second.

Sounds like a lot of assumptions, like yours that only liberals are concerned about changes in markets and logistics that affect how our society works.
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you’re the one making inane assumptions. you’re assuming that one persons acquisition of wealth is responsible for someone else’s lack of wealth. liberals want people to believe that so they feel victimized. But it’s not true.

Again, if you or anyone else wants what someone else has, do what they did to get it. do precisely what they did to get it. we are limited only by our abilities and our work ethic.
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[Pete F.]

Originally Posted by Jim in CT

you’re the one making inane assumptions. you’re assuming that one persons acquisition of wealth is responsible for someone else’s lack of wealth. liberals want people to believe that so they feel victimized. But it’s not true.

Again, if you or anyone else wants what someone else has, do what they did to get it. do precisely what they did to get it. we are limited only by our abilities and our work ethic.
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No Jim that’s not what I said Amazon and Bezos are totally dependent on the infrastructure that society creates to make the business work.
They need healthy educated people to work for them, transportation to deliver and receive goods and all the rest of the public services to be able to conduct business.
They should carry their share.
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[Jim in CT]

Originally Posted by Pete F.

No Jim that’s not what I said Amazon and Bezos are totally dependent on the infrastructure that society creates to make the business work.
They need healthy educated people to work for them, transportation to deliver and receive goods and all the rest of the public services to be able to conduct business.
They should carry their share.
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you cried about the wealthy getting wealthier, without even trying to explain why that’s bad. Boo hoo.

Yes Amazon needs roads and bridges. Which is why the feds and states have gas taxes and tolls, which Amazon pays same as you.

i looked it up, in 2018 ( latest year i could find), the top 1% of the wealthiest, earned 20.9% of all adjusted gross income, and paid 40.1% of all federal income taxes.

they’re paying a vastly disproportionate share of our nations tax burden. We have a very progressive tax scale.

You can argue it should be tweaked, and maybe you’re right. But You can’t argue they’re not paying plenty already. not as a group in total.

also, do the math to see how
much more revenue would be generated under whatever marxist tax rate youd impose, and see how meaningless that amount is, compared to the federal budget. it’s not even worth discussing.

https://www.google.com/amp/s/www.fox...e-us-taxes.amp
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[Pete F.]

Originally Posted by Jim in CT

you cried about the wealthy getting wealthier, without even trying to explain why that’s bad. Boo hoo.

Yes Amazon needs roads and bridges. Which is why the feds and states have gas taxes and tolls, which Amazon pays same as you.

i looked it up, in 2018 ( latest year i could find), the top 1% of the wealthiest, earned 20.9% of all adjusted gross income, and paid 40.1% of all federal income taxes.

they’re paying a vastly disproportionate share of our nations tax burden. We have a very progressive tax scale.

You can argue it should be tweaked, and maybe you’re right. But You can’t argue they’re not paying plenty already. not as a group in total.

also, do the math to see how
much more revenue would be generated under whatever marxist tax rate youd impose, and see how meaningless that amount is, compared to the federal budget. it’s not even worth discussing.

https://www.google.com/amp/s/www.fox...e-us-taxes.amp
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Your numbers would be usable if they were based on wealth, not income. It's not how much money you make, it's how much you keep. No billionaire, or wealthy person for that matter in this country tries to increase his income, they would then be taxed.
So they legally (in most cases) take their income in un or less taxed methods. Lots more ways to take income untaxed if like your CEO you can take some as stock options. Since 1978 CEO compensation has risen 940% while worker compensation has risen 12%, guess who sets pay rates?

As far as the effect of taxes, I can find experts who claim that taxation increases growth.

Bruce Bartlett, who served under both Presidents Ronald Reagan and George H.W. Bush, drafted the Kemp-Roth tax bill, the basis of the Reagan tax cuts.

Mr. Bartlett, in an August 2016 op-ed in the New York Times, recognized that "the Reagan tax cut played only a secondary role in the 1980s boom." Furthermore, he pointed out that Reagan, concerned about deficits, "supported 11 different increases from 1982 to 1988 that collectively took back half of the 1981 tax cut."

Mr. Bartlett also noted that the "economy tanked during the Bush years despite numerous large tax cuts" and that "there is far more evidence from the last 35 years showing that tax increases do more to stimulate growth than tax cuts."

[Jim in CT]

Originally Posted by Pete F.

Your numbers would be usable if they were based on wealth, not income. It's not how much money you make, it's how much you keep. No billionaire, or wealthy person for that matter in this country tries to increase his income, they would then be taxed.
So they legally (in most cases) take their income in un or less taxed methods. Lots more ways to take income untaxed if like your CEO you can take some as stock options. Since 1978 CEO compensation has risen 940% while worker compensation has risen 12%, guess who sets pay rates?

As far as the effect of taxes, I can find experts who claim that taxation increases growth.

Bruce Bartlett, who served under both Presidents Ronald Reagan and George H.W. Bush, drafted the Kemp-Roth tax bill, the basis of the Reagan tax cuts.

Mr. Bartlett, in an August 2016 op-ed in the New York Times, recognized that "the Reagan tax cut played only a secondary role in the 1980s boom." Furthermore, he pointed out that Reagan, concerned about deficits, "supported 11 different increases from 1982 to 1988 that collectively took back half of the 1981 tax cut."

Mr. Bartlett also noted that the "economy tanked during the Bush years despite numerous large tax cuts" and that "there is far more evidence from the last 35 years showing that tax increases do more to stimulate growth than tax cuts."

it’s called federal income tax, not federal wealth tax.

“no wealthy person tries to increase his income. they would then be taxed.”

that is probably the most economically stupid thing posted on then internet this year.

“i can find experts that say that taxation increases growth.

those must be some serious, honest experts.


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[Jim in CT]

Originally Posted by Pete F.

Lots more ways to take income untaxed if like your CEO you can take some as stock options."[/COLOR]

You're saying stock options are un-taxed.

I presume you don't live in this country, then? You see, here in America, when you exercise stock options, not only are they taxed, it's taxed as ordinary income.

Then when you sell the shares, you pay capital gains tax on any appreciation between the day you exercised, and the day you sold.

Just keep making up Marxist bullsh*t.

Look it up. I'm right.

[Pete F.]

Originally Posted by Jim in CT

You're saying stock options are un-taxed.

I'll assume that is your reading comprehension issue, unless you are just lying, I said "So they legally (in most cases) take their income in un or less taxed methods."

I presume you don't live in this country, then? You see, here in America, when you exercise stock options, not only are they taxed, it's taxed as ordinary income.

Then when you sell the shares, you pay capital gains tax on any appreciation between the day you exercised, and the day you sold.

Just keep making up Marxist bullsh*t.

Look it up. I'm right.

Anyone who disagrees with a fascist is called a marxist, that is the history of fascism.

When you exercise stock options is the difference, the majority of Americans don't have that choice.

But read this, so you can see how, here in America, it works.

The 25 richest Americans, including Jeff Bezos, Michael Bloomberg and Elon Musk, paid relatively little — and sometimes nothing — in federal income taxes between 2014 and 2018, according to an analysis from the news organization ProPublica that was based on a trove of Internal Revenue Service tax data.

The analysis showed that the nation’s richest executives paid just a fraction of their wealth in taxes — $13.6 billion in federal income taxes during a time period when their collective net worth increased by $401 billion, according to a tabulation by Forbes.

The documents reveal the stark inequity in the American tax system, as plutocrats like Mr. Bezos, Mr. Bloomberg, Warren Buffett, Mr. Musk and George Soros were able to benefit from a complex web of loopholes in the tax code and the fact that the United States puts its emphasis on taxing labor income versus wealth. Much of the wealth that the rich accrue — like shares in companies they run, vacation homes, yachts and other investments — isn’t considered “taxable income” unless those assets are sold and a gain is realized. Even then, there are loopholes in the tax code that can limit or erase all tax liability.