knapplc Posted October 3, 2019 Share Posted October 3, 2019 48 minutes ago, NM11046 said: Didn't we elect a guy that said he was going to simplify the tax code to a one pice of paper like an index card? That's not the word I would use. 1 2 Link to comment
jsneb83 Posted October 3, 2019 Share Posted October 3, 2019 1 hour ago, NM11046 said: Didn't we elect a guy that said he was going to simplify the tax code to a one pice of paper like an index card? You mean the same guy that says that he, a wealthy individual, has been under audit for years? Link to comment
teachercd Posted October 7, 2019 Share Posted October 7, 2019 Mark Zuckerburg just said he feels like he has too much money! I just Venmo'ed him asking for a few million to help him feel better! Hurry guys, we gotta all un-pitch in and help him out! Update: He has still not sent me any money via Venmo. 2 Link to comment
NM11046 Posted October 11, 2019 Share Posted October 11, 2019 4 minutes ago, BlitzFirst said: https://www.nytimes.com/interactive/2019/10/06/opinion/income-tax-rate-wealthy.html This is an excellent chart - I'm guessing folks lock in on total tax paid though, and don't realize that 2.3% vs 12.3% is insane for consumption tax (and similarly for payroll tax) Link to comment
Landlord Posted November 17, 2019 Share Posted November 17, 2019 5 minutes ago, RedDenver said: I'm really genuinely not too good with math, but even I can realize this is a much too simplistic way of looking at this that doesn't necessarily say much other than a talking point. For example, two months ago Bill Gates had given away over 35 billion in charity just in the first 3/4 of 2019. But he also added another 16 billion to his net worth. He gave away almost a third of his total net worth but added back a tenth (probably usually adds back more), and I imagine keeps recycling it like that over and over. Link to comment
ZRod Posted November 17, 2019 Share Posted November 17, 2019 7 minutes ago, RedDenver said: How much of that 2.5 T is liquid though? Bezo and Zuckerberg type wealth isn't just cash. It's their shares in their companies. 2 Link to comment
BigRedBuster Posted November 18, 2019 Author Share Posted November 18, 2019 8 hours ago, ZRod said: How much of that 2.5 T is liquid though? Bezo and Zuckerberg type wealth isn't just cash. It's their shares in their companies. Exactly. Link to comment
NM11046 Posted November 18, 2019 Share Posted November 18, 2019 So let's say he only has 1billion liquid. .4% of that is still pretty poor in comparison to what many donate to charity. In the US the avg donated is something like $4k per person, which is 3.7% of their avg earnings. Now obviously that includes outliers like Bill who give significantly more, so let's say it's $1k avg for a "regular" person. Still more than .4%. I've got no skin in this argument really, but I have always found it interesting the accolades given to big name people when they give to be a bit of an insult to those who give and actually sacrifice to do so. Everything is appreciated, but imagine what a difference the truly obscenely wealthy could make (and yes, I know some do make a difference) I keep meaning to look into Bloombergs' percentages, as he's been very targeted with focus on clmate change and etc. Link to comment
ZRod Posted November 18, 2019 Share Posted November 18, 2019 45 minutes ago, NM11046 said: So let's say he only has 1billion liquid. .4% of that is still pretty poor in comparison to what many donate to charity. But they're saying 0.4% of 2.5 trillion is 10 billion. If we assume they all gave equally then each of the 400 would donate $25M. In your scenario that's a 2.5% of the billionaire's cash. Link to comment
Ratt Mhule Posted November 28, 2019 Share Posted November 28, 2019 No idea where to put this tweet thread but holy s#!t this is f#&%ed up! 2 Link to comment
teachercd Posted November 28, 2019 Share Posted November 28, 2019 Sort of this topic, we discussed a salary cap on American workers in one of my classes. Interesting results... Cliffhanger (not the movie) Link to comment
teachercd Posted December 21, 2019 Share Posted December 21, 2019 I feel like rich people can also hire people to make sure they save on taxes...Don't you think? Like, I don't feel like they use the cheap version of Turbo Tax like I do. Link to comment
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