How do you get the rich to pay more in tax? Change the tax code

I may have.
I mean I used to get a return...so, yea I guess I did.

 

LOL, Im not a multi millionaire..I didn't pretend to operate at a loss for the whole year like they can get away with..Im talking about in a given week, or month.

 

Of course because the IRS has become a well-documented, weaponized arm of the Republican Par...erm.. wait.

 

Oh yea I remember that...

"A new report on the IRS’s treatment of nonprofit groups indicates the agency subjected numerous liberal-leaning groups to extra scrutiny when they sought tax-exempt status, the latest wrinkle in a saga that has mostly focused on how conservative groups were treated."
https://www.politico.com/story/2017/10/05/audit-irs-scrutiny-liberal-non-profits-243497

"
GOP Surrenders Cherished IRS Scandal at Last
The fiction served the GOP for years, yet died quietly this month, forsaken and alone.

"The IRS scandal came to a pathetic, whimpering conclusion earlier this month. For half a decade the scandal had kept delinquent members of Congress occupied and served up reliable programming to Fox News and other conservative media. But when Internal Revenue Service Commissioner John Koskinen walked out of his office on Nov. 9, of his own volition, on schedule, his fine reputation intact, the whole greasy production quietly expired."

https://www.bloomberg.com/opinion/articles/2017-11-20/gop-surrenders-cherished-irs-scandal-at-last

 

What you remember is the spin from Left leaning sources. The fact is that the IRS targeted far more RW groups and the LW groups were few. Whatever time you spent googling the above was wasted, as the truth about the IRS targeting RW groups is well-documented.

 

I dont think it was time wasted..I found out the conclusion to something that was a big deal apparently.

I honestly forgot all about it.

 

Income tax returns are yearly

 

But what I pay them is weekly.

What are you getting at anyway?

 

And are rebated overpayments

 

Heh..Tell the bill collectors to wait on rebates...Or should that be written off as well? Oops only the rich can do that as well.

 

Absolutely. Changing the tax code (simplifying to eliminate loopholes and deductions) is the only way to (meaningfully) 'tax the rich.'

Has Sanders proposed a plan to do this?

 

Consider The Eisenhower Tax Code.

Then look at all those bipartisan tax cuts from JFK since the early sixties.
Hardly Dinner And A Movie for most of us with loss of services, like FREEWAYS
and the creation of the Super Rich

​

 

It all depends on what you consider rich. The top 25% pay 85% of the taxes. 47% of Americans don’t even pay a penny of income tax. The top 1% makes only 50% more than the bottom 50% yet pays 1200% more in income tax. This is just Federal income tax. Now if you want to figure state taxes, property taxes, luxury taxes, sales taxes, estate taxes, inheritance taxes, transaction taxes, excise taxes and the hundreds of other miscellaneous fees and taxes rich people pay that poor people don’t then those figures will be even more lopsided. I’ve always been a fan of the flat tax. Every resident of the US whether legal or not over the age of 18 pays the exact same amount. That amount would equate to around $12,500 per year. Everybody paying the same. You can’t get any more fair than that.

 

You could seize the assets of the top 1% and it would keep the federal government running for just four weeks.

The answer to our budget problems isn't to tax more. The answer is to spend less.

 

Right, because the tax code can allow you to avoid paying taxes legally, like on the income you make from a vehicle like real estate. Reason why is because the government needs housing, so its landlords that get a lot of the tax shortcuts. There might be some deductions here and there, because you will still have tax left over even on the income you make from stocks.

 

You might ask Bill Gates how he feels about being taxed more. He's gone on record saying he thinks the ultra-wealthy should be taxed more.

 

The tax code would allow Trump to get away with paying zero in taxes. Should the code be changed? Yes, because Amazon not paying a penny is maddening.

 

Great question.

You reduce the amount of tax deductions they can take. For example, say you go out to dinner. As long as you can report at least 50% of that was spent on business related purposes, that can be a tax deduction that should be deducted. Think about it. You could go out to Chili's and talk about the Super Bowl, tell the IRS it was mostly a business gathering and you'll save yourself on taxes. Another would be to, if not already, tax the highest earning assets of each person and their corporation. Perfect example is Jeff Bezos and Amazon. Whatever the largest revenue Amazon racks in is, you tax that and take 40-45% of its sales revenue in taxes. Since Bezos really made his fortune from Amazon stock, it would be best to start taxing him more there since that's where a lot of his personal revenue comes from.

Its reducing leniency for these people, simple changes such as the reduction in deductions would be a good start.

 

All taxes are forced -- USA spends over 600 billion a year on military budget.

 

It isn't just the poor. It is half of the citizens. Taxes give people a stake in govenrment spending so we should be concerned about the half that doesn't pay income tax.

I don't disagree.

 

Only about 16% of total Federal spending is spent on military.

Over 60% of total Federal spending is spent on social programs (SS, Medicare, Medicaid, ObamaCare, disability, welfare, etc.)

 

Life is so hard.

 

To bad so sad.. Your elected officials are just as guilty of bad tax code as mine.. Strange thing about MONEY and TAX's the left and right hate to give it to the gubmint..

As for Amazon, I sure was OK with not paying a single penny of sales tax for a very long time! And you buy through them I'm sure you didn't complain much either

Before you make claims like a tax specialist you might want to read how Amazon and the tax codes work!

 

I'm pretty sure the last thing Gates thinks about is tax burdens

 

WOW, you're guessing about what you pay in tax every year? Dude get your finances dialed in BRO!