Platinum Contributing Member steve from amherst Posted October 30, 2021 Platinum Contributing Member Share Posted October 30, 2021 25 minutes ago, Mainecat said: Back in the 60’s dads worked and mom stayed home. They were able to own a car and a home and bring up kids on one income.. Wait what? Oh yeah the wealthy paid way more in taxes. I grew up in the 60's. Both parents worked and we were still fucking poor. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted October 30, 2021 Share Posted October 30, 2021 12 minutes ago, steve from amherst said: I grew up in the 60's. Both parents worked and we were still fucking poor. Everybody was well to do before Reagan was elected!!!!!!!!! Quote Link to comment Share on other sites More sharing options...
SkisNH Posted October 30, 2021 Share Posted October 30, 2021 1 hour ago, Mainecat said: Back in the 60’s dads worked and mom stayed home. They were able to own a car and a home and bring up kids on one income.. Wait what? Oh yeah the wealthy paid way more in taxes. You obtuse mother fucker...you believe that it was the tax rate that made it possible. Please tell me the fucked up logic that you used to draw that conclusion. 1 Quote Link to comment Share on other sites More sharing options...
Anler Posted October 30, 2021 Share Posted October 30, 2021 On 10/28/2021 at 9:23 PM, ActionfigureJoe said: Warren Buffet-0.10% Jeff Bezos-.098% Michael Bloomberg-1.30% Elon Musk-3.27% How horrible for these poor billionaires. https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax I'm getting ready to make some moves that will put me near those tax rates. Education is key. Quote Link to comment Share on other sites More sharing options...
SkisNH Posted October 30, 2021 Share Posted October 30, 2021 On 10/28/2021 at 10:23 PM, ActionfigureJoe said: Warren Buffet-0.10% Jeff Bezos-.098% Michael Bloomberg-1.30% Elon Musk-3.27% How horrible for these poor billionaires. https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax Wealth growth isn't income...you want to tax unrealized gains? What a fucking stupid idea. How much did the value of most Americans home go up? Should we all write a check for the taxes? Will the govt give us a refund when the market for both equities and homes goes down? Fuck off snowflake. Quote Link to comment Share on other sites More sharing options...
Anler Posted October 30, 2021 Share Posted October 30, 2021 3 hours ago, steve from amherst said: I grew up in the 60's. Both parents worked and we were still fucking poor. Ha same here except 70's LOL Quote Link to comment Share on other sites More sharing options...
Mainecat Posted October 30, 2021 Share Posted October 30, 2021 2 hours ago, SkisNH said: You obtuse mother fucker...you believe that it was the tax rate that made it possible. Please tell me the fucked up logic that you used to draw that conclusion. Look back dumb ass. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted October 30, 2021 Share Posted October 30, 2021 (edited) 3 hours ago, ArcticCrusher said: The wealthy make their main gains on asset growth not cash flow income. Back then there was 0% tax on capital gains. Try to educate yourself. Dumb ass….it was 25% In 1960, the top 1% of households earned 9% of all income, and paid 13% of all taxes. (In 2008, the top 1% earned 20% of all income, and paid 38% of all taxes.) The top marginal tax rate in 1960 was 91%, which applied to income over $200,000 (for single filers) or $400,000 (for married filers) – thresholds which correspond to approximately $1.5 million and $3 million, respectively, in today’s dollars. Approximately 0.00235% of households had income taxed at the top rate. A taxpayer at the very bottom of the top 1% (in other words, one who is right on the boundary between the 98th and 99th percentiles) had a nominal income of $24,435, or about $190,000 in today’s dollars. (In 2008, this figure was nominally $380,354, or $400,000 in current dollars.) Edited October 30, 2021 by Mainecat Quote Link to comment Share on other sites More sharing options...
SkisNH Posted October 31, 2021 Share Posted October 31, 2021 20 minutes ago, Mainecat said: Look back dumb ass. I know what the tax rates were you dumb fuck....tell me how that relates to any fucking thing you posted about your mommy staying home to wipe your ass. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted October 31, 2021 Share Posted October 31, 2021 1 hour ago, SkisNH said: Wealth growth isn't income...you want to tax unrealized gains? What a fucking stupid idea. How much did the value of most Americans home go up? Should we all write a check for the taxes? Will the govt give us a refund when the market for both equities and homes goes down? Fuck off snowflake. Idiots have no clue. They would be forced to sell their homes to pay the tax. Fucking simpleton. 1 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted October 31, 2021 Share Posted October 31, 2021 52 minutes ago, SkisNH said: I know what the tax rates were you dumb fuck....tell me how that relates to any fucking thing you posted about your mommy staying home to wipe your ass. Someday you will have to move out of your moms basement….lol Maybe mom will float you the 20 bucks to join this site you cheap fuck. Quote Link to comment Share on other sites More sharing options...
SkisNH Posted October 31, 2021 Share Posted October 31, 2021 20 minutes ago, Mainecat said: Someday you will have to move out of your moms basement….lol Maybe mom will float you the 20 bucks to join this site you cheap fuck. Nice try at deflecting...now answer the fucking question. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted October 31, 2021 Share Posted October 31, 2021 1 hour ago, SkisNH said: Nice try at deflecting...now answer the fucking question. Join the site you cheap fuck. Quote Link to comment Share on other sites More sharing options...
airflite1 Posted October 31, 2021 Share Posted October 31, 2021 7 minutes ago, Mainecat said: Join the site you cheap fuck. I'm impressed after 29,000 posts you finally paid up, Atta Boy. 1 Quote Link to comment Share on other sites More sharing options...
CFM Posted October 31, 2021 Share Posted October 31, 2021 1 hour ago, Mainecat said: Join the site you cheap fuck. Get after clown550 too. He’s got your # of posts. We’ll see you do that soon right ? Quote Link to comment Share on other sites More sharing options...
spin_dry Posted October 31, 2021 Share Posted October 31, 2021 8 hours ago, ArcticCrusher said: The wealthy make their main gains on asset growth not cash flow income. Back then there was 0% tax on capital gains. Try to educate yourself. You mean before the personal income tax rate was reduced? Quote Link to comment Share on other sites More sharing options...
spin_dry Posted October 31, 2021 Share Posted October 31, 2021 On 10/29/2021 at 4:10 AM, steve from amherst said: Wealth Growth Total Income Reported Total Taxes Paid True Tax Rate Warren Buffett Berkshire Hathaway Inc. $24.3B $125M $23.7M 0.10% Jeff Bezos Amazon.com Inc. $99.0B $4.22B $973M 0.98% Michael Bloomberg Bloomberg LP $22.5B $10.0B $292M 1.30% Elon Musk Tesla Inc. $13.9B $1.52B $455M 3.27% Jeff Bezos paid a true tax rate of less than 1% between 2014 and 2018.During this period, his wealth soared $99 billion while he reported just $4.22 billion in income. Bezos ended up paying just $973 million in total taxes. In 2011, Bezos didn't pay any federal income tax — in fact, he reported a loss that year and even claimed a $4,000 tax credit for his children. Elon Musk paid a true tax rate of 3.27% between 2014 and 2018. His wealth grew $13.9 billion in that period and he reported $1.52 billion in income. Musk ended up paying $455 million in total taxes during that period. For several years, including 2015 and 2017, Musk paid less than $70,000 in annual federal income tax. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted October 31, 2021 Platinum Contributing Member Share Posted October 31, 2021 5 hours ago, spin_dry said: Jeff Bezos paid a true tax rate of less than 1% between 2014 and 2018.During this period, his wealth soared $99 billion while he reported just $4.22 billion in income. Bezos ended up paying just $973 million in total taxes. In 2011, Bezos didn't pay any federal income tax — in fact, he reported a loss that year and even claimed a $4,000 tax credit for his children. Elon Musk paid a true tax rate of 3.27% between 2014 and 2018. His wealth grew $13.9 billion in that period and he reported $1.52 billion in income. Musk ended up paying $455 million in total taxes during that period. For several years, including 2015 and 2017, Musk paid less than $70,000 in annual federal income tax. True tax rate thru the eyes of one who beleives people should be taxed on what they hold, not what they earn . In other words , a cock gobbling liberal. 1 Quote Link to comment Share on other sites More sharing options...
Sleepr2 Posted October 31, 2021 Share Posted October 31, 2021 17 hours ago, ArcticCrusher said: The wealthy make their main gains on asset growth not cash flow income. Back then there was 0% tax on capital gains. Try to educate yourself. His education comes from duh underground and daily KOS Quote Link to comment Share on other sites More sharing options...
airflite1 Posted October 31, 2021 Share Posted October 31, 2021 I guess I see it different, one guy paying almost a billion dollars in Taxes, how can you say he doesn't pay his fair share? Taxes are supposed to be for covering the cost of services provided by the Government, what's he receiving in Government services that are worth that price tag? 2 Quote Link to comment Share on other sites More sharing options...
Sleepr2 Posted October 31, 2021 Share Posted October 31, 2021 1 minute ago, airflite1 said: I guess I see it different, one guy paying almost a billion dollars in Taxes, how can you say he doesn't pay his fair share? Taxes are supposed to be for covering the cost of services provided by the Government, what's he receiving in Government services that are worth that price tag? Leftists think taxes are to penalize successful people. Leftists political ideology is based on greed, envy,theft and violence. 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted October 31, 2021 Platinum Contributing Member Share Posted October 31, 2021 13 minutes ago, airflite1 said: I guess I see it different, one guy paying almost a billion dollars in Taxes, how can you say he doesn't pay his fair share? Taxes are supposed to be for covering the cost of services provided by the Government, what's he receiving in Government services that are worth that price tag? And he paid 1 billion more himself then 47 million Americans paid combined. But he is a tax weasel according to some. Quote Link to comment Share on other sites More sharing options...
Sleepr2 Posted October 31, 2021 Share Posted October 31, 2021 14 hours ago, Mainecat said: Look back dumb ass. Yes, look back dumfuck. https://taxfoundation.org/taxes-on-the-rich-1950s-not-high/ The 91 percent bracket of 1950 only applied to households with income over $200,000 (or about $2 million in today’s dollars). Only a small number of taxpayers would have had enough income to fall into the top bracket – fewer than 10,000 households, according to an article in The Wall Street Journal. Many households in the top 1 percent in the 1950s probably did not fall into the 91 percent bracket to begin with. Even among households that did fall into the 91 percent bracket, the majority of their income was not necessarily subject to that top bracket. After all, the 91 percent bracket only applied to income above $200,000, not to every single dollar earned by households. Finally, it is very likely that the existence of a 91 percent bracket led to significant tax avoidance and lower reported income. There are many studies that show that, as marginal tax rates rise, income reported by taxpayers goes down. As a result, the existence of the 91 percent bracket did not necessarily lead to significantly higher revenue collections from the top 1 percent. 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted November 1, 2021 Platinum Contributing Member Share Posted November 1, 2021 (edited) On 10/30/2021 at 6:51 PM, Mainecat said: Dumb ass….it was 25% In 1960, the top 1% of households earned 9% of all income, and paid 13% of all taxes. (In 2008, the top 1% earned 20% of all income, and paid 38% of all taxes.) The top marginal tax rate in 1960 was 91%, which applied to income over $200,000 (for single filers) or $400,000 (for married filers) – thresholds which correspond to approximately $1.5 million and $3 million, respectively, in today’s dollars. Approximately 0.00235% of households had income taxed at the top rate. A taxpayer at the very bottom of the top 1% (in other words, one who is right on the boundary between the 98th and 99th percentiles) had a nominal income of $24,435, or about $190,000 in today’s dollars. (In 2008, this figure was nominally $380,354, or $400,000 in current dollars.) Now do ETR. https://taxfoundation.org/taxes-on-the-rich-1950s-not-high/ Edited November 1, 2021 by Highmark Quote Link to comment Share on other sites More sharing options...
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