Saw this on Facebook 😍(lemmy.world)

posted 1 year ago

JimmyMemes@lemmy.world

workreform@lemmy.world

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netburnr@lemmy.world

107 points

1 year ago

It’s funny because the rich don’t pay taxes.

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PsychedSy@sh.itjust.works

-18 points

1 year ago

The top 1% pays 42% of taxes.

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Chetzemoka@startrek.website

31 points

1 year ago

They pay 42% of INCOME taxes, which are only 40% of the annual federal tax receipts. Which means their income tax only amounts to about 17% of the overall tax receipts. Their FICA contributions are capped and they pay no FICA on anything over about $140,000. FICA tax accounts for 25% of overall federal tax receipts. The majority of remaining tax receipts are consumption taxes and property taxes, both of which are regressive and impact lower income citizens more.

https://taxfoundation.org/data/all/federal/us-tax-revenue-by-tax-type-2020/

https://www.bench.co/blog/tax-tips/fica-tax

https://www.investopedia.com/terms/r/regressivetax.asp

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PsychedSy@sh.itjust.works

-9 points

1 year ago

Fair correction. So, you’re saying they do pay taxes?

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unfreeradical@lemmy.world

-3 points

1 year ago

That’s the truth, 110%.

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steakmeout@aussie.zone

3 points

1 year ago

Keep shifting the goalposts. That’s how you win, right? How’s that boot leather taste?

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PsychedSy@sh.itjust.works

-1 points

1 year ago

I’m not the one that shifted them. What was the comment I first replied to? I’ll wait.

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steakmeout@aussie.zone

2 points

1 year ago

The top 1% pays 42% of taxes.

Your statement implies that the top 1% pay 42% of all taxes, which is untrue. When called out on your lie of omission you cried like a bitch and tried to shift the goalposts to seem like you didn’t lie.

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DreamButt@lemmy.world

9 points

1 year ago

They do if you have taxes on captial gains :)

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IDontHavePantsOn@lemm.ee

15 points

1 year ago

Can’t get taxed if you never cash out.

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DreamButt@lemmy.world

7 points

1 year ago

Most tax programs which apply to capital gains apply to the sell and exchange of the stock. Dividends are also taxed (at least here in the states). So yes, you get taxed no matter what you do unless it’s a net loss

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ScrotusMaximus@lemmy.ninja

21 points

1 year ago

That’s why the quiet part is to borrow against the assets in perpetuity. No tax on money you take out in loans using your investments as collateral! This is effectively a home equity loan for the rich. Now, you can’t keep paying interest on your growing loans forever. Why, ScrotusMaximus, that would be unsustainable! Not to mention that baby faced intern fresh out of grad school with 300k of student loans to be repaid keeps pointing out your interest only loan to his supervisor and posting on Work Reform.

So move onto step two! You and your other insider buddies are going to do a little pump and dump action. For this phase of the plan we are going to crash the market, and write off the impaired value of our investments and debt. Scrotus, that sounds complicated, you might say. Sure, maybe for a peasant such as yourself, it might be. All we have to do is make our investments worth less on paper! A little bad press, some failed deliveries, an enshittified platform, a war breaks out on the wrong people. Nothing is actually changing hands. That would be silly. This has the added intentional bit of killing off the bank or investors we owe money to, figuratively of course. We’re not actually killing anyone, mind you. That would be a crime and as we all know crime is only for the poors.

A year or two passes. We are on our yacht living off the loan money. We are in the final phase of our plan: no one bought the snake oil, the enshittified apps aren’t making ad revenue and that war sure hurt that new market. Our investments are worthless and we can’t borrow anymore money to pay for the yacht diesel or scantily clad deck boys. Gosh darn it, Scrotus, now what?

It just so happens the bank that loaned us money had to be bought out by JPAmerica Bank with taxpayer bailout money thanks to the votes from our friends 😉 in government, and good news! They’re willing to work with us to refinance the loans because an investor bought our shitty debt for pennies on the dollar! What a sucker, amirite?

No tax on loans! The poor hate this one trick

This message brought to you under an Apache MIT BSD license to distribute.

Edit: An instead of a

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DreamButt@lemmy.world

5 points

1 year ago

How do you feel about limiting loans against assets and total wealth based taxes?

In general I try to avoid talking about these things because people get touchy and act like the situation is hopeless. Captial Gains taxes does have an affect and it does improve the situation. And obviously what you brought up are clear concerns with how it is often setup today. So I’m interested in how we could continue to make things better in that regard

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unfreeradical@lemmy.world

4 points

1 year ago

I’m just spitballing here, but maybe the solution is just, like, you know, tax the rich…?

I mean, really tax them, you know, all in, no bars, just get in there, and tax the hell right out of them.

Whad’ya say? Think it might work?

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6 points

1 year ago

I’m not really in favor of a wealth tax. Maybe, if we really need to claw back our mistakes, but I think there are better approaches.

A tax on loans based on wealth seems great though. If you have the wealth, why are you borrowing? What are the legitimate uses of secured loans?

Capital gains taxes should be higher than payroll taxes. Always and forever.

Marginal tax rates exist for a reason, and it’s absurd that we stop progressive taxation after $700k. The difference between making $800k/year and making $15m/year is ridiculous. At $800k/year you at least want to make the business last for a decade. After you cash out for $15m in a year, are you really accountable to anyone?

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vagrantprodigy@lemmy.whynotdrs.org

4 points

1 year ago

Exactly why dividends need to be mandatory for profitable companies if we are not going to change the tax system.

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Work Reform

!workreform@lemmy.world

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A place to discuss positive changes that can make work more equitable, and to vent about current practices. We are NOT against work; we just want the fruits of our labor to be recognized better.

Our Philosophies:

All workers must be paid a living wage for their labor.
Income inequality is the main cause of lower living standards.
Workers must join together and fight back for what is rightfully theirs.
We must not be divided and conquered. Workers gain the most when they focus on unifying issues.

Our Goals

Higher wages for underpaid workers.
Better worker representation, including but not limited to unions.
Better and fewer working hours.
Stimulating a massive wave of worker organizing in the United States and beyond.
Organizing and supporting political causes and campaigns that put workers first.

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