People who don’t want to tax the 1% but are not in the 1%, why?
Most people don't realize that the 1% is taxed very little on "unearned income".
Even jeff bezos earns less than $100k a year.
So a majority of his income is taxed at a lower rate because it's "unearned".
Bc we *might* be in the 1% some day, so we wouldn't want to hurt our future selves.
"John Steinbeck once said that socialism never took root in America because the poor see themselves not as an exploited proletariat but as temporarily embarrassed millionaires."
Edit - quotation marks
The only really conceivable way to tax wealth is to force stock liquidations which I don’t like for moral and pragmatic reasons.
Elon Musk isn’t sitting on a pile of billions of dollars like a dragon would.
I am for taxing the 1%.
But doing so would mean closing tax loopholes.
Closing enough loopholes to matter would mean an entire overhaul of our tax system, which I am also for.
However, when this sort of thing inevitably comes up, the powers that be have all the power.
They can and will use their influence to create new, harder to close loopholes in the new tax code.
They will use their influence to stay where they are.
The only way to strip the 1% of their influence is to take the money out of politics.
But the politicians don’t want that, so they will fight doing so even without the need of 1% to influence
them.
I fear that, in the end, the 1% will stay where they are, and the middle class will end up taxed up the ass so politicians can say they have actually done something.
The system is the problem, and while we are so busy throwing beep at each other across the aisle, nothing will change.
Change would mean some pretty extreme compromise, and I don’t see either side of the aisle willing to do so.
Because tax rate doesn't matter until tax loopholes are closed.
Anyone talking about tax hikes on the 1% is just looking for class warfare points and is fully aware these people dodge majority of taxes.
When someone wants to actually use our vast spying technology to financially audit the 1% you found your winner.
Explain why you believe they are not taxed enough?
Are your beliefs on fact or what you're hearing from others?
Whatever income is earned is taxed.
No getting around it.
Their wealth is their wealth until they divert it to income.
Then its taxed.
The top 1% paid 1/3 rd of all federal taxes collected last year.
The other top 49% paid the other 2/3rds.
Over 40% of US citizens paid zero.
In 2017, the top 50 percent of all taxpayers paid 97 percent of
all individual income taxes, while the bottom 50 percent paid the remaining 3 percent.
The top 1 percent paid a greater share of individual income taxes (38.5 percent) than the bottom 90 percent combined (29.9 percent).
The top 1 percent of taxpayers paid a 26.8 percent average individual income tax rate, which is more than six times higher than taxpayers in the bottom 50 percent (4.0 percent).
The federal government collects trillions, and spends the bulk of it on nonsense, or, even worse, on predator drones missiles and domestic surveillance.
They neither need, nor deserve, more money.
They could tax at 99% and none of that money would go towards helping people.
Because I don't believe that complex problems have simple solutions and I think that politicians just use the 1% as a scape goat to distract from the fact that they are horribly incompetent at their job.
Distrust...every single time they say they are taxing the rich more, the rest of us get beep on.
So everytime I hear them talking about only raising taxes in the rich...I get ready for the next way we are getting screwed.
High taxes for rich means they will move away.
I believe they should be tax in the highest bracket only and not more.
Suppose someone earns 100M $ year.
You tax 30% of that and you get 30M $.
You raise it to 50% and he moves to a different state / country and you get 0.
Many of them are wealth creators.
They just don't pay their own taxes but also employ other people.
If a small company with 100 people moves away to a different state, not all 100 people would be able to move.
So you basically have 50 unemployed people.
Tax heavens exist for a reason.
Because every tax hike ever levied starts out for “the 1%.” But the 1% find loopholes in the tax code and that tax on “the 1%” eventually falls to the middle class.
The first income tax was only on the top .1% of people and it was only like half a percent.
Now look where we are.
Not to mention all the other lovely taxes our government has foisted upon us.
I'm wealthy but not rich(not in the 1%) but feel like i'd be the next target after they piss away any gains from the 1%..
The problem is I actually pay taxes and have I high salary(getting started as a Dr.), don't own a business to funnel funds through, hire expensive CPA's(I just use turbotax).
I don't mind paying high taxes but it's hard to ignore paying 75-100k in taxes on 350k.
My student loans are off the charts too(2nd mortgage), I can't deduct anything and never get any stimulus.
I don’t trust the government with even more money.
They have already shown to be incompetent with the money they have
It's treating the symptom rather than the disease.
The government has tons of money - it *doesnt* need more money to do anything.
This "solution" to existing societal problems seems disengenuos when government proponents continue to insist that problems can be solved by no other method than to send more money to the government.
Instead let's answer questions like:
Why do we live in a society where individuals are allowed to accrue wealth in an unethical fashion to begin with?
(Btw, if someone amasses wealth in an ethical fashion should they still
be taxed?)
Why do we spent billions of dollars on military annually?
Why do we send so much money overseas?
Exactly how much money does the government need to successively to it's job, and why is the answer always more?
Why do we pass laws that demand massive amounts of funds that legislatures barely have time to read and no common person has the capacity to understand fully?
It simply makes me wary that more money directed to the government is truly a "solution" to our problems...
I think the government needs to stop reckless spending before asking for more money.
Stop sending so much overseas.
Stop being the worlds police.
I just don't think it's fair.
I get pissed off because I lose more than 50% of the money I earned, and I am constistant with that opinion for rich people and poor people.
I'm from Germany where rich people pay more taxes than in America I think, but I wouldn't want them to be taxed even more.
The reason for this is that many people want to be rich and often times a good way of becoming rich is creating something that holds value to others.
Be it entertainment, necessities or other goods / services that are useful to other people.
So if you take away the incentive of becoming rich by taxing the rich too much, for many people you also take away the reason to create such useful things.
So by giving people the incentive of becoming rich we ultimately speed up innovation and progression of humanity which I believe to be beneficial to all of us.
We should focus on making sure our current taxes are spent well, and don't just go back to corporations and banks in the form of bailouts, or to corrupt politicians pockets.
In the case of the USA, it should also be a priority, that the money doesn't just go to feed the war machine, or shady organizations like the Pentagon.
Once that's done, the next priority should be to make sure everyone is taxed what they currently should be taxed, and stop allowing companies based on the cayman islands, or other fiscal paradise, to operate in countries unfairly, avoiding most taxes.
After that's done, then raising taxes may be considered.
Firstly, your question assumes the 1% don't pay any taxes.
This is false.
They pay the vast majority of taxes in the US.
Secondly, I strongly suggest you read up on the history of the AMT (Alternative Minimum Tax) in the US.
It was instituted in 1969 as a tax limited to "millionaires and billionaire".
However, over time it became a tax on middle to upper middle class people.
It didn't take much income to be snared with the AMT and you certainty didn't need to be a "millionaire and billionaire" to be paying the "millionaire and billionaire tax".
Finally, the more government collects in taxes, they more it spends.
It never stops.
I have no claim, moral or material, over anyone else's property.
Edit: I'm interested in the wording of your question.
Are there people who say that the top 1% of earners should not be taxed at all?
I just like to piss off college kids who call themselves socialists.
I mean the top 1% pays something like 38% of the total income tax already
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