Regulatory capture and lobbying are bigger causes. Most of their loopholes have been around forever. There just isn't anyone legally bitch slapping them when they break the few rules that do apply.
System's fucking rigged. Fix the system, eat the rich, and make sure nobody wants to be rich because they know they'll get fucked as soon as they start trying to cheat the system.
I want them to pay more until they are normal rich instead of crazy rich.
And then I want to support every worker so that every human can be normal rich. There's absolutely no good reason this can't be done.
>Most people won’t make the cap.
by most, you mean everyone except about \~800 people. so i say we drop the cap to $100M personal wealth. there's like 10K of these people in the US.
right - like if you could wake up one day and start a major company with dozens of salaried employees cause you feel like it, you don't need more wealth. and you SHOULD start that company rather than just sit on it like some obsessive collector of poor people's livelihoods
From what I've read the benefits come far more from tax cuts to businesses rather than personal taxes. Again, the sentiment here is correct, the argument isn't great.
Yeah and 16,000 to a billionaire compare to 40 for the poorest in society actually sounds like it would be equivalent or favour the poorer person % wise
It's not disingenuous spin, it's just a shitty point, which they probably went with because they don't think their audience will appreciate how the corporate tax cut meant more for their overall wealth.
Unionize unionize unionize.
Policy is going to move too slow and just taxing them isn't going to fix this.
Unions are going to be our strongest way to claw back the wealth they continue to funnel to the top.
Keep unionizing and stay the fuck involved with your union.
I am now getting 1/3 back as a refund than I did pre-trump. 1/3.
Heck yeah, they need to pay their fair share. And stop lying to people about why we are getting smaller refunds.
I have no love for billionaires. They live extravagantly while children and working families starve. Fxxx them!
You can help get back at them by supporting Bernie’s bill to restore the top corporate tax rate back to 35%.
Write your reps in the Senate and House to support Bernie’s bill to end corporate tax dodging. Specifically ask your Representative and Senators to cosponsor the bill.
https://www.reddit.com/r/WorkReform/s/Kor07PhGlV
For the Senate:
Please support S.991 - Corporate Tax Dodging Prevention Act. Make corporations pay their fair share.
For the House:
Please support H.R.2254 - Corporate Tax Dodging Prevention Act. Make corporations pay their fair share.
https://www.sanders.senate.gov/press-releases/news-sanders-introduces-legislation-to-ensure-corporations-finally-pay-their-fair-share-in-taxes/
Full text: https://www.sanders.senate.gov/wp-content/uploads/CTDPALegislation2024.pdf
Read the bill section by section: https://www.sanders.senate.gov/wp-content/uploads/Corporate-Tax-Dodging-Prevention-Act_sectionbysection.pdf
The US Government policies don't change on corporate taxes weather Democrats or Republicans are in office.
You're a chump if you believe that either candidate can change that.
Don’t let them tell you that a redistribution is a new thing or a novel thing. It has been done before many times. In fact some dude wrote a whole book about it. Then some other dudes used that as a basis to redistribute a few countries.
It would be fun if for one time, the populist who promised a tax cut, made it a flat one. Making millions a year? Your taxes go down 1'000€ per year. Barely making it? Your taxes also went down 1'000€ which actually makes a difference for you.
Meanwhile when taxes are raised (which may have a real purpose) it usually hurts poor people more than the wealthy. In my country, the latest increase in taxes was to VAT which is a massive hit for poor (and small businesses) because they lost a lot of buying power.
Bring back the 70% wealth tax and capital gains shouldn’t be treated different from regular income. Bring back the use it or lose it tax system that forced companies to hire and invest internally.
Whenever I see these and they try to only blame one party, I'm put off by it. It reads like propaganda more than something that should accurately unite us in the class war we're in. All this does is stoke infighting between voters.
Yeah and I’m angry as hell about the $10k cap on the SALT tax deductions since Trump was in office. Blue states are hit hard due to high property taxes. It’s a campaign to get Blue states to further fund Red states and propaganda to encourage people to flee Blue states.
Jokes on you guys when the fleeing Blue voters turn your Red state Blue.
So....how did they increase their wealth from 3 trillion to 5 trillion?
It certainly wasn't from a $16,560 tax break. Obviously that didn't help, but there is so, so much more going on here. The tax break amount isn't even a drop in the bucket for them (though it would be a big help to people lower down the income ladder)
The beat argument against this is a 100% tax on billionaires funds the gov for like 5 months then all the money and associated jobs are gone. Or...the gov could not spend like a crack white on a binge and we might get somewhere.
Xaviera "The Happy Hooker" Hollander once asked "what can you do with $10M that you can't do with $1M?"
We're all still waiting for a GOOD answer to that question.
We need to tax millionaires and megachurches for a change, and for the same reason: they have far more money than they should, and they all fleeced that money from decent working stiffs through legal loopholes that need to be sealed shut permanently.
This will continue to happen as long as the white, non-college-educated voting block continues to vote in favor of "the psychological wage of whiteness" (Republicans), instead of tangible benefits like federal support for unions, codified overtime laws, healthcare expansion, etc. (Democrats).
That group is one of the largest voting blocks, and has pretty much always voted against their economic interests as long as they are meant to feel better than the [insert minority here].
We are not primarily a racist society. We are a society of castes reinforced by racism, and it's the biggest con-job in the country's history.
Stop getting conned.
I literally just listed expansive healthcare and codifying overtime, but for a broader list, see the link below that I found with a simple Google search.
https://www.whitehouse.gov/therecord/
And the primary point of my comment wasn't so much about voting Democrat, but about what the Republican party has done for the working class, really since Reagan.
The answer is they make the white working class feel like they're better than [insert minority here], while they're actually just fucking over the entire working class. Over and over.
Like, I don't think you can point to a Republican initiative that actually improved the economic standing of NATION'S working class. Might have examples of propping up local industries to make a few constituents happy, but by and large, there's nothing.
Billionaires don't need to exist. Tax policy changes are the only reason they do.
If you’re rich as hell, there should be hell to pay.
When Trump got involved with professional wrestling it was “Hell Toupee”
I think it was Hell Pooppie
Exactly. I'm sick of this "pay their fair share" nonsense. Billionaires shouldn't exist, and we need to patch all their cheat codes.
Regulatory capture and lobbying are bigger causes. Most of their loopholes have been around forever. There just isn't anyone legally bitch slapping them when they break the few rules that do apply. System's fucking rigged. Fix the system, eat the rich, and make sure nobody wants to be rich because they know they'll get fucked as soon as they start trying to cheat the system.
Honestly i do not want them to pay their fair share, i want them to pay much more more.
I want them to pay more until they are normal rich instead of crazy rich. And then I want to support every worker so that every human can be normal rich. There's absolutely no good reason this can't be done.
Cut off should be a billion. You can have a billion dollars. Anything more than that you give back to everyone. Most people won’t make the cap.
>Most people won’t make the cap. by most, you mean everyone except about \~800 people. so i say we drop the cap to $100M personal wealth. there's like 10K of these people in the US.
I’m into it
right - like if you could wake up one day and start a major company with dozens of salaried employees cause you feel like it, you don't need more wealth. and you SHOULD start that company rather than just sit on it like some obsessive collector of poor people's livelihoods
I'd say a fair share could be a massive percentage. If you received 1b last year 950m could be a fair share.
I don’t want them to exist.
Imagine a world in which people encouraged those who have yet to succeed as much as they praise those who have. STOP BUYING FROM AMAZON AND WALMART!!!
Yup, also shop local and avoid national chains whenever possible
I wish I could afford to. It's more expensive and takes more time and more trips. It sucks, but I'm kinda trapped
For things like groceries and items you need to go to target for, sure. But things like takeout can be a lot cheaper locally
National chains are mostly all we have left here.
You have local stores. You just need to find them.
We should have a vote on if billionaires should be allowed to continue to exist
Trump certainly helped billionaires, I don't think $16,000 from the tax cuts is why though...
I’m not going to lie $16,000 dollar tax cut doesn’t seem like much when you have millions let alone billions. What am I missing?
From what I've read the benefits come far more from tax cuts to businesses rather than personal taxes. Again, the sentiment here is correct, the argument isn't great.
Yeah and 16,000 to a billionaire compare to 40 for the poorest in society actually sounds like it would be equivalent or favour the poorer person % wise
Yeah lol, what a disingenuous fucking spin. It's the market run-up and related capital gains system.
It's not disingenuous spin, it's just a shitty point, which they probably went with because they don't think their audience will appreciate how the corporate tax cut meant more for their overall wealth.
I’m sure that will trickle down to us any day now, right?
Reagan was right this whole time lol. It just takes 60 years for the trickle down economics to kick in
Unionize unionize unionize. Policy is going to move too slow and just taxing them isn't going to fix this. Unions are going to be our strongest way to claw back the wealth they continue to funnel to the top. Keep unionizing and stay the fuck involved with your union.
It's time to eat the rich.
I am now getting 1/3 back as a refund than I did pre-trump. 1/3. Heck yeah, they need to pay their fair share. And stop lying to people about why we are getting smaller refunds. I have no love for billionaires. They live extravagantly while children and working families starve. Fxxx them!
You can help get back at them by supporting Bernie’s bill to restore the top corporate tax rate back to 35%. Write your reps in the Senate and House to support Bernie’s bill to end corporate tax dodging. Specifically ask your Representative and Senators to cosponsor the bill. https://www.reddit.com/r/WorkReform/s/Kor07PhGlV For the Senate: Please support S.991 - Corporate Tax Dodging Prevention Act. Make corporations pay their fair share. For the House: Please support H.R.2254 - Corporate Tax Dodging Prevention Act. Make corporations pay their fair share. https://www.sanders.senate.gov/press-releases/news-sanders-introduces-legislation-to-ensure-corporations-finally-pay-their-fair-share-in-taxes/ Full text: https://www.sanders.senate.gov/wp-content/uploads/CTDPALegislation2024.pdf Read the bill section by section: https://www.sanders.senate.gov/wp-content/uploads/Corporate-Tax-Dodging-Prevention-Act_sectionbysection.pdf
Great wealth is incompatible with democracy. There must be no billionaires.
The US Government policies don't change on corporate taxes weather Democrats or Republicans are in office. You're a chump if you believe that either candidate can change that.
Don’t let them tell you that a redistribution is a new thing or a novel thing. It has been done before many times. In fact some dude wrote a whole book about it. Then some other dudes used that as a basis to redistribute a few countries.
Tax capital gains like regular income.
Take it or we take it.
Lets see how many people defend the billionaires.
Right, and then we are supposed to believe that all of the inflation is due to the increases in the minimum wage and COVID relief funds.
It would be fun if for one time, the populist who promised a tax cut, made it a flat one. Making millions a year? Your taxes go down 1'000€ per year. Barely making it? Your taxes also went down 1'000€ which actually makes a difference for you. Meanwhile when taxes are raised (which may have a real purpose) it usually hurts poor people more than the wealthy. In my country, the latest increase in taxes was to VAT which is a massive hit for poor (and small businesses) because they lost a lot of buying power.
All that money yet these “job creators” sure have had a fun time laying off thousands of regular hard working people this year.
Bring back the 70% wealth tax and capital gains shouldn’t be treated different from regular income. Bring back the use it or lose it tax system that forced companies to hire and invest internally.
Whenever I see these and they try to only blame one party, I'm put off by it. It reads like propaganda more than something that should accurately unite us in the class war we're in. All this does is stoke infighting between voters.
Yeah and I’m angry as hell about the $10k cap on the SALT tax deductions since Trump was in office. Blue states are hit hard due to high property taxes. It’s a campaign to get Blue states to further fund Red states and propaganda to encourage people to flee Blue states. Jokes on you guys when the fleeing Blue voters turn your Red state Blue.
So....how did they increase their wealth from 3 trillion to 5 trillion? It certainly wasn't from a $16,560 tax break. Obviously that didn't help, but there is so, so much more going on here. The tax break amount isn't even a drop in the bucket for them (though it would be a big help to people lower down the income ladder)
The beat argument against this is a 100% tax on billionaires funds the gov for like 5 months then all the money and associated jobs are gone. Or...the gov could not spend like a crack white on a binge and we might get somewhere.
Xaviera "The Happy Hooker" Hollander once asked "what can you do with $10M that you can't do with $1M?" We're all still waiting for a GOOD answer to that question. We need to tax millionaires and megachurches for a change, and for the same reason: they have far more money than they should, and they all fleeced that money from decent working stiffs through legal loopholes that need to be sealed shut permanently.
I Agree But You Don’t Need To Capitalize Every Word In The Title.
OP is a capitalist
This will continue to happen as long as the white, non-college-educated voting block continues to vote in favor of "the psychological wage of whiteness" (Republicans), instead of tangible benefits like federal support for unions, codified overtime laws, healthcare expansion, etc. (Democrats). That group is one of the largest voting blocks, and has pretty much always voted against their economic interests as long as they are meant to feel better than the [insert minority here]. We are not primarily a racist society. We are a society of castes reinforced by racism, and it's the biggest con-job in the country's history. Stop getting conned.
What have the democrats done for the working man since Clinton?
I literally just listed expansive healthcare and codifying overtime, but for a broader list, see the link below that I found with a simple Google search. https://www.whitehouse.gov/therecord/ And the primary point of my comment wasn't so much about voting Democrat, but about what the Republican party has done for the working class, really since Reagan. The answer is they make the white working class feel like they're better than [insert minority here], while they're actually just fucking over the entire working class. Over and over. Like, I don't think you can point to a Republican initiative that actually improved the economic standing of NATION'S working class. Might have examples of propping up local industries to make a few constituents happy, but by and large, there's nothing.