Should it be illegal to be super wealthy?

[Jasonw1178]

No, but they should adjust the federal tax brackets a lot IMO.

In 2023 USA, the average wage is about $74k/yr, the median wage is $89k/yr. Sauce: Bureau of Labour and Statistics. Pick one of those two numbers ($74k/yr or $89k/yr) and make that the 20% cut off for tax brackets.

Current tax bracket is 12% for $11k+, 22% for $45k+, 24% for $95k+, 32% for $182k+, and 35% for $231k+.

Fun fact, they could eliminate income tax for those making under 100K and it would only affect the federal budget by about 1%. Most likely the extra economic activity would actually result in more tax revenue.

Does someone who only makes $45K a year really have the money to pay 20%+ of their income in taxes? Is that right to do that? Lets also talk about if you are working for that money, trading time and energy for it, then it's not really income, it's an exchange. So you are litterally a slave for the government for 2-3 months a year. What are they giving you for that time?

[Dan_S]

OP, let's scale your idea to a much larger population: the entire world.

If you're a working poor in the US, you're in the top 1% of the entire world.

So let's play this out how you want. You're the "super wealthy" to the billions living in actual poverty. Let's take everything you own and we'll even it out so you now live on $200 a month, because that's just fair, right?

Or maybe we can acknowledge the world isn't fair, and there will always be inequality. The last 100 years, however, have seen the quality of life of everyone around the world increase dramatically. Across the board. Yeah, the system isn't perfect and everyone can't live in a mansion on the beach or in the mountains, but at least most people have access to clean water.

[crupiea]

Peopls seem to have this misconception of money.

If one person has a lot of it, that doesnt men others have to be poor. They can also have a lot of it.

Its not a finite resource.

So if you take rich peoples money, it does nothing to help poor people. Actually makes them poorer because they will be out of a job that was provided by the rich person.

[MegaSloot]

Why do some people need so much money when there are so many people starving on the streets?

Wait, wait waaaaaait a minute here. You're not allowed to ask those questions. You're supposed to focus on the handy dandy wedge issues such as culture wars and transsexual issues. If we have people asking these more obvious, basic questions, then how can the ultra rich keep hoarding their trillions?

[MegaSloot]

OP, let's scale your idea to a much larger population: the entire world.

If you're a working poor in the US, you're in the top 1% of the entire world.

So let's play this out how you want. You're the "super wealthy" to the billions living in actual poverty. Let's take everything you own and we'll even it out so you now live on $200 a month, because that's just fair, right?

Or maybe we can acknowledge the world isn't fair, and there will always be inequality. The last 100 years, however, have seen the quality of life of everyone around the world increase dramatically. Across the board. Yeah, the system isn't perfect and everyone can't live in a mansion on the beach or in the mountains, but at least most people have access to clean water.

Tell that to the people of Jackson Mississippi, son.
https://grist.org/equity/jackson-mis...isis-petition/

Something else. Why do we have to serve the rich? Philanthropic endeavors should be the province of the wealthy. Yet, we give our lives to serving them. We cook, we clean we scrub their boats and watch their brats while our own get arrested and beat down by police. The ultra rich are parasites, and yet, they are worshipped like gods. It's sickening. They're not better than the rest of us. They don't work harder, they're not more moral or smarter. They just have y'all trained like dogs to obey and kissup to them with the hopes they'll give you a little of their money.

[DeuceDecimator]

Why should people be punished for being successful? The tax bracket should 20% for everyone across the board

[DimTriad]

Agree with the other guy talking about taxes. Middle taxes (50-500k) are taxed too heavily while those above that are taxed too lightly.

[Shortfuze]

Some progressive people have argued that tax should be "Race-based" where American Indian or Alaska Native, Native Hawaiian or Other Pacific Islander should not be required to pay any tax (argument: we stole their land), black people pay the minimal of taxes(argument: slavery and least taxation offsets reparations), then Hispanic non-white, then Hispanic White(argument: they maybe Hispanic but because they are White, they have more privilege over non-white Hispanics), then Asians (argument: model minority), and then White pay the highest.

Thoughts?

[RIKTER]

No, but they should adjust the federal tax brackets a lot IMO.

In 2023 USA, the average wage is about $74k/yr, the median wage is $89k/yr. Sauce: Bureau of Labour and Statistics. Pick one of those two numbers ($74k/yr or $89k/yr) and make that the 20% cut off for tax brackets.

Current tax bracket is 12% for $11k+, 22% for $45k+, 24% for $95k+, 32% for $182k+, and 35% for $231k+. Instead it should pull from the super wealthy more IMO.

I propose adding a higher tax level, and being kinder to the lower earners, like the following: 10% for $15k+, 15% for $50k+, 20% for say $89k+ (median income), 25% for $150k+, 35% for $300k+, and 45% for $2m+.

Income taxes are taxes on income(99% of us)....which why the super wealthy aren't as effected by them.

In 2007, Jeff Bezos, then a multibillionaire and now the world’s richest man, did not pay a penny in federal income taxes. He achieved the feat again in 2011.

In 2018, Tesla founder Elon Musk, the second-richest person in the world, also paid no federal income taxes.

Michael Bloomberg managed to do the same in recent years. Billionaire investor Carl Icahn did it twice. George Soros paid no federal income tax three years in a row.

[DimTriad]

Income taxes are taxes on income(99% of us)....which why the super wealthy aren't as effected by them.

In 2007, Jeff Bezos, then a multibillionaire and now the world’s richest man, did not pay a penny in federal income taxes. He achieved the feat again in 2011.

In 2018, Tesla founder Elon Musk, the second-richest person in the world, also paid no federal income taxes.

Michael Bloomberg managed to do the same in recent years. Billionaire investor Carl Icahn did it twice. George Soros paid no federal income tax three years in a row.

then they should not be allowed to borrow against the value of their equity in their companies. Cash some out and pay taxes or get fked.

[Visel]

Income taxes are taxes on income(99% of us)....which why the super wealthy aren't as effected by them.

In 2007, Jeff Bezos, then a multibillionaire and now the world’s richest man, did not pay a penny in federal income taxes. He achieved the feat again in 2011.

In 2018, Tesla founder Elon Musk, the second-richest person in the world, also paid no federal income taxes.

Michael Bloomberg managed to do the same in recent years. Billionaire investor Carl Icahn did it twice. George Soros paid no federal income tax three years in a row.

You're conflating income with wealth. The wealthy basically do not have income. What you're suggesting is taxing successful professionals who own sole proprietorship businesses or are doctors, lawyers, senior government officials, and successful high-salary employees more, while none of these people are "super wealthy".

I hear you guys.

While I was writing the post I was even thinking "this only targets those of higher income, not necessarily higher net worth." So I did have that moment of thinking "maybe if you have a net worth over $5m+ you should pay some type of fee, even if it's only 0.1% of total net worth every year," but I don't think it sounds too fair for someone to get taxed/penalized when they didn't even generate money that year. When Bezos retired, and if Musk ever retires, why should they keep getting their money drained just for being a residing citizen? Ideally by having a harsher tax bracket system, the "next upcoming Bezos" and the "next upcoming Musk" would have paid their share along the way. Bezos and Musk get a pass because they generated their wealth during opportunistic times when the USA govt was idiotic.

[Jasonw1178]

Some progressive people have argued that tax should be "Race-based" where American Indian or Alaska Native, Native Hawaiian or Other Pacific Islander should not be required to pay any tax (argument: we stole their land), black people pay the minimal of taxes(argument: slavery and least taxation offsets reparations), then Hispanic non-white, then Hispanic White(argument: they maybe Hispanic but because they are White, they have more privilege over non-white Hispanics), then Asians (argument: model minority), and then White pay the highest.

Thoughts?

I've heard chatter about this. I think that will be the next stage of the agenda.

Oh and you are forgetting one group you know will be exempt because they say 6M were killed in another country so you nose what we have to do.

[mingrey02stg2]

Income taxes are taxes on income(99% of us)....which why the super wealthy aren't as effected by them.

In 2007, Jeff Bezos, then a multibillionaire and now the world’s richest man, did not pay a penny in federal income taxes. He achieved the feat again in 2011.

In 2018, Tesla founder Elon Musk, the second-richest person in the world, also paid no federal income taxes.

Michael Bloomberg managed to do the same in recent years. Billionaire investor Carl Icahn did it twice. George Soros paid no federal income tax three years in a row.

The average federal income tax payment in 2020 was $16,615. In 2022, Elon Musk paid $11 billion in taxes, or the equivalent of 662,052 average earners. I'd say that's plenty for a single individual.

[Contribution05]

Why should people be punished for being successful? The tax bracket should 20% for everyone across the board

"punished" is a strong word. They aren't living worse off by making more. Anyone would still rather make a million a year taxed at 50% than make 70k a year taxed at 20%.

[Jmart07]

It's not just about taxes. It's well known that that the rich don't pay their fair share of taxes. But wages from the bottom earners do not go up while CEO and business profits continue to go up.

UPS, the auto industry, film actors/writers want to go on strike. And they should.

[Dave22reborn]

So when someone wins the mega lottery, what should happen?

[mingrey02stg2]

It's well known that that the rich don't pay their fair share of taxes.

In 2020, the top 1% of earners paid 42.3% of all federal income taxes. You're right they don't pay their fair share- they pay a lot more.

[whitepaper]

i'm not surprised a bunch of you want to just sit back, do little to no work, and live off the government...then turn around and start throwing ideas like ban wealth.


lol.



stop being parasites living off of the government and go and actually put some effort in to be wealthy yourselves. you have zero excuses.




and fuk no. we should be reducing taxes on the wealthy. the reality is that your politics will change when your lifestyle changes. you want to really set the road to be against you when you become wealthy? i sure don't

[Dave22reborn]

What's the definition of "super wealthy."

And why is it that those who always push for it, are the bottom feeders who have done nothing with their lives?

[Dave22reborn]

my bad

for some reason I thought you were proud of it

He reminds me of one of my black co-workers who served in the navy. Guy was pro gun control, pro lockdown, pro mask/vaccine mandates and believed the dumbest **** in the world.

One time claimed that Hitler took a class in LA, about propaganda...... now, you have to be careful debating with a certain demographic, so I simply asked him, "Who told you this, and when did he do this since he was pretty much a bum after WW1?"

[Shortfuze]

I think if you want to make any meaningful changes to the system, it has to start from the top; our political leadership. Cut off or make serious changes to campaign contributions, insider trading, lobbying loopholes, overseas contributions etc. Block the political leadership from the influence of big money/private donors.

[isingmodel]

What's the definition of "super wealthy."

And why is it that those who always push for it, are the bottom feeders who have done nothing with their lives?

Sounds like you're describing yourself. Mid 40s, a ****ing cop, and a terrible one at that who has achieved exactly nothing in an already 0 IQ career. Life paid for entirely by the taxpayer, and yet simping for billionaires. Could your life get any more worthless? Your parents must hate themselves, christ.

[Jasonw1178]

He reminds me of one of my black co-workers who served in the navy. Guy was pro gun control, pro lockdown, pro mask/vaccine mandates and believed the dumbest **** in the world.

One time claimed that Hitler took a class in LA, about propaganda...... now, you have to be careful debating with a certain demographic, so I simply asked him, "Who told you this, and when did he do this since he was pretty much a bum after WW1?"

A lot of information about Hitler is propaganda. Someone told me one time that Hitler ordered all the German Shepherd Dogs to be eliminated. I laughed at him and told him that was the soviets that did that because they are disgusting savages and that Hitler was a GSD enthusiast who really was the founder of animal welfare laws. Blondi was his favorite GSD. Yes, he ordered her killed in the bunker because he knew the dirty soviets would have tortured her. SRS if I get another GSD that has a lot of tan and looks like her I'm going to name her Blondi.

[weiss1967]

Why do some people need so much money when there are so many people starving on the streets?

it is not like rich has gotten to be rich by doing nothing, or being dumb. If we consider the money to be a measure of usefulness to society, or measure of hard work, than being super rich is totally ok. You may laugh at it, but this is true. Even stock market broker, the shark who is scalping the market, is doing good by smothering general public's emotions with his cold cut calculations.

Likewise, those starving on streets did not contribute to society, drug addicts for the most part, half of them are criminals at large. I have no compassion for them whatsoever.

[anonkunbrah]

i mean once you have enough money to live however you want i see very little need for someone to have more

[Dave22reborn]

Sounds like you're describing yourself. Mid 40s, a ****ing cop, and a terrible one at that who has achieved exactly nothing in an already 0 IQ career. Life paid for entirely by the taxpayer, and yet simping for billionaires. Could your life get any more worthless? Your parents must hate themselves, christ.

Look at you, with this fantasy that everyone should get a thousand dollars a month for doing nothing. Where those with money should be punished for it, where high priced goods should be taxed even higher, where the wealth of certain individuals should be confiscated and redistributed.....

You're a worthless tiny, Korean migrant, living in the UK, who finally moved out at the age of thirty. Hell you and Wincel one time bonded over how awesome it was to live at home......

When you share things in common with Wincel, that's when you know your parents did a **** job.

Now make sure you wear your mask when you venture outdoors, you Asians are known for that.

[theraskal]

Investor Jeremy Grantham: You have to tax the super rich-----


https://www.cnbc.com/2019/03/07/inve...hterm=Grantham

[AlfBundy]

It's not just about taxes. It's well known that that the rich don't pay their fair share of taxes. But wages from the bottom earners do not go up while CEO and business profits continue to go up.

UPS, the auto industry, film actors/writers want to go on strike. And they should.

You can thank immigration for that, son. Before America was flooded with cheap labor from the third world, a working class man could afford a house and a family

[outfoxxed]

It should be illegal to be a neckbeard incel like you

They should close up the tax loopholes but at the end of the day, taxation is a waste because libtards will find a way to spend the entire budget and more. If you have 1 million budget then the libtards spend 2 million. If it's 10 trillion then librards spend 20 trillion

[Dave22reborn]

You can thank immigration for that, son. Before America was flooded with cheap labor from the third world, a working class man could afford a house and a family

Interesting how these same individuals who despise those with wealth, believe in open borders, then those same individuals are crying when the Migrants come to their city...... They're all over the place and don't know what they believe, only what they're told to believe.