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Closing the ultra rich tax loopholes

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TC Talks
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Closing the ultra rich tax loopholes

Post by TC Talks » Tue Apr 27, 2021 8:26 pm

Make any excuse that you want as to why closing loopholes is going to hurt you and I will disagree.

Infrastructure spending will benefit almost everybody who reads this forum. Closing those loopholes will not hurt anyone here.

Why would you try to attack someone who will keep the economy nice and hot and have very little impact on your bottom line.

These are people who keep their money invested. They aren't small business owners, they aren't corporate executives, they are billionaires who don't really employ anybody. This money isn't circulating in the economy it's sitting on the beach.


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TC Shuts Up
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Re: Closing the ultra rich tax loopholes

Post by TC Shuts Up » Tue Apr 27, 2021 8:55 pm

The people you describe are not billionaires. You are correct about that they often are not businessmen or corporate executives. They are people who do not have government or big corporate pensions. The self employed scrimped and saved money over the years for their retirement. They were duped into investing in stock funds, because bank interest is incredibly low, investing perhaps a half million in IRAs, 401Ks, and SEPs. This is their PENSION FUND. Obviously, after the crooked takeover, they have been DUPED because the whole idea was that TAX RATES WERE SUPPOSED TO BE LOWER when they took the IRA type funds out. Regardless of what the TOP RATE is, they will likely be paying considerably higher rates, the way the current regime is operating. Consider that a government employee might collect a half million to a million or more in PENSIONS only taxed at most as tax rates on wages. They often retire at 50 or 55 from their government jobs. The first million or so, equivalent to government pensions, of self employed, self directed pensions should be taxed no higher than wage income at most, and certainly no higher than government pensions are. The people in trades and construction often have to work well beyond full Social Security benefit age, even to 70.

Keep in mind that the REAL billionaires will still figure out loopholes and be rewarded for their support of the regime. It is the small contractors, etc. who will "pay and pay and pay" like Little Joe's customers in "Take a Walk On The Wild Side".


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TC Talks
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Re: Closing the ultra rich tax loopholes

Post by TC Talks » Tue Apr 27, 2021 9:20 pm

Spend some time reading the Wall Street journal or other legitimate media which has a grasp on the tax strategy.

Batshitcrazynews.com is not a valid source for news.

I assure you he is not going after people with pension funds. That is just you rambling like a fucking moron again.


“The more you can increase fear of drugs, crime, welfare mothers, immigrants and aliens, the more you control all of the people.”
― Noam Chomsky

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Matt
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Re: Closing the ultra rich tax loopholes

Post by Matt » Tue Apr 27, 2021 9:27 pm

TC Talks wrote:
Tue Apr 27, 2021 9:20 pm
Spend some time reading the Wall Street journal or other legitimate media which has a grasp on the tax strategy.

Batshitcrazynews.com is not a valid source for news.

I assure you he is not going after people with pension funds. That is just you rambling like a fucking moron again.
How do you feel about the SALT deduction limitation? Do you oppose the moves by Democrats to end the limitation?


What's more pathetic: harassing an old man who is paying to do a radio show or supporting a grifter like Trump?

TC Shuts Up
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Re: Closing the ultra rich tax loopholes

Post by TC Shuts Up » Tue Apr 27, 2021 10:21 pm

TC Talks wrote:
Tue Apr 27, 2021 9:20 pm
Spend some time reading the Wall Street journal or other legitimate media which has a grasp on the tax strategy.

Batshitcrazynews.com is not a valid source for news.

I assure you he is not going after people with pension funds. That is just you rambling like a fucking moron again.
Of course they're not going after GOVERNMENT PENSIONS, where they get $50,000 a year for 20 years. That's A MILLION DOLLARS.

They're going after people who have IRAs, etc. because they DON'T HAVE PENSIONS.

They did this in Europe and governments collapsed under the weight of government pensions.

You get worse and worse with with age, TC Talks. You're beginning to act like Joe Biden calling people dog faced pony soldiers. And that was last year before he went even further down hill.


Disagreeing with Communists is NOT an impeachable offense.

Never eat Sushi past its expiration date.

Those who refuse to drain the swamp are doomed to drown in it.

MotorCityRadioFreak
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Re: Closing the ultra rich tax loopholes

Post by MotorCityRadioFreak » Wed Apr 28, 2021 12:04 am

Forgive me while I cry for Elon Musk for a second.....
That second is over, eat the rich.


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TC Talks
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Re: Closing the ultra rich tax loopholes

Post by TC Talks » Wed Apr 28, 2021 7:38 am

Matt wrote:
Tue Apr 27, 2021 9:27 pm
TC Talks wrote:
Tue Apr 27, 2021 9:20 pm
Spend some time reading the Wall Street journal or other legitimate media which has a grasp on the tax strategy.

Batshitcrazynews.com is not a valid source for news.
I assure you he is not going after people with pension funds. That is just you rambling like a fucking moron again.
How do you feel about the SALT deduction limitation? Do you oppose the moves by Democrats to end the limitation?
I think it will be an improvement from the current $25,000 donation minimum to receive a deduction. I will be paying attention to this and NPO's are quite effective at lobbying.


“The more you can increase fear of drugs, crime, welfare mothers, immigrants and aliens, the more you control all of the people.”
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TC Talks
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Re: Closing the ultra rich tax loopholes

Post by TC Talks » Wed Apr 28, 2021 7:51 am

TC Shuts Up wrote:
Tue Apr 27, 2021 10:21 pm
TC Talks wrote:
Tue Apr 27, 2021 9:20 pm
Spend some time reading the Wall Street journal or other legitimate media which has a grasp on the tax strategy.

Batshitcrazynews.com is not a valid source for news.

I assure you he is not going after people with pension funds. That is just you rambling like a fucking moron again.
Of course they're not going after GOVERNMENT PENSIONS, where they get $50,000 a year for 20 years. That's A MILLION DOLLARS.

They're going after people who have IRAs, etc. because they DON'T HAVE PENSIONS.

They did this in Europe and governments collapsed under the weight of government pensions.
Really? Cite your sources or go away. I hope your day is filled with people like you.


“The more you can increase fear of drugs, crime, welfare mothers, immigrants and aliens, the more you control all of the people.”
― Noam Chomsky

Posting Content © 2024 TC Talks Holdings LP.

TC Shuts Up
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Re: Closing the ultra rich tax loopholes

Post by TC Shuts Up » Wed Apr 28, 2021 10:04 am

TC Talks wrote:
Wed Apr 28, 2021 7:51 am
TC Shuts Up wrote:
Tue Apr 27, 2021 10:21 pm
TC Talks wrote:
Tue Apr 27, 2021 9:20 pm
Spend some time reading the Wall Street journal or other legitimate media which has a grasp on the tax strategy.

Batshitcrazynews.com is not a valid source for news.

I assure you he is not going after people with pension funds. That is just you rambling like a fucking moron again.
Of course they're not going after GOVERNMENT PENSIONS, where they get $50,000 a year for 20 years. That's A MILLION DOLLARS.

They're going after people who have IRAs, etc. because they DON'T HAVE PENSIONS.

They did this in Europe and governments collapsed under the weight of government pensions.
Really? Cite your sources or go away. I hope your day is filled with people like you.
I hope and pray that the Lord changes your spirit to make you less arrogant. Obviously no human has the power to do that.


Disagreeing with Communists is NOT an impeachable offense.

Never eat Sushi past its expiration date.

Those who refuse to drain the swamp are doomed to drown in it.

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TC Talks
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Re: Closing the ultra rich tax loopholes

Post by TC Talks » Wed Apr 28, 2021 4:50 pm

You and your Kristianity...

Image

Meanwhile, my Church hosted 4 LGBTQ weddings in April... Maybe you never paid attention to what God really taught us.


“The more you can increase fear of drugs, crime, welfare mothers, immigrants and aliens, the more you control all of the people.”
― Noam Chomsky

Posting Content © 2024 TC Talks Holdings LP.

bmw
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Re: Closing the ultra rich tax loopholes

Post by bmw » Wed Apr 28, 2021 6:03 pm

TC Talks wrote:
Tue Apr 27, 2021 8:26 pm
Why would you try to attack someone who will keep the economy nice and hot and have very little impact on your bottom line.
You attached Donald Trump for 4 years.



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TC Talks
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Re: Closing the ultra rich tax loopholes

Post by TC Talks » Wed Apr 28, 2021 6:04 pm

I'm sorry, keeping the economy hot for all Americans not just white people.


“The more you can increase fear of drugs, crime, welfare mothers, immigrants and aliens, the more you control all of the people.”
― Noam Chomsky

Posting Content © 2024 TC Talks Holdings LP.

paul8539
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Re: Closing the ultra rich tax loopholes

Post by paul8539 » Wed May 05, 2021 6:18 pm

How about this idea: Any salary over $500,000 gets taxed at 100%.

We don't need a MINIMUM wage law, we need a MAXIMUM wage law.



km1125
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Re: Closing the ultra rich tax loopholes

Post by km1125 » Wed May 05, 2021 8:00 pm

I'm getting on board with this concept of raising the tax on "ultra-rich" (over $100M??) to 50% or maybe even 75%.

Won't fix the debt or deficit, but just maybe it'd be an attitude adjustment for some of those "left coast" billionaires on the "advantages" of big government.



jadednihilist
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Re: Closing the ultra rich tax loopholes

Post by jadednihilist » Wed May 05, 2021 8:49 pm

Image

There is no reason why the tax burden should be higher low-to-middle income earners than those whom have more money than you can possible spend in generations.

Image
Source: https://www.federalreserve.gov/releases ... 9.3,2020.4

The 2018 median (50th percentile) income in the US is $63,000, which is a fairly steady number that isn't quite keeping up with inflation. Imagine what we could do to the federal deficit and the investments we could make in our people (poverty reduction, well-rounded education and training, infrastructure, healthcare, etc) if the tax burden on the top 10 percent reflected those of lower income workers.

These two graphs alone help explain how our tax system exacerbates our increasingly untenable levels of income inequality.


I'm here for a good, hearty debate, to agree and disagree respectfully, and commiserate on the current state of terrestrial radio.

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