John Deering for March 29, 2022

They should be taxed. Heavily!!!

I am. Billionaires are the most worthless “humans” on the planet.

They get rich on the backs of others and try to give as little of it back in return.

They use infrastructure paid for by taxes but they don’t pay their fair share in taxes.

The problem with selecting one group to tax at a heavier percentage than everyone else is that it opens the door to selective taxation. I would rather see the personal and business exemptions removed based on the true gross income.

The billionaires won’t be quite so obvious. They will say a few words to the right politicians,and that will be the end of it.

@B 8671- That sure would be one way to put a dent in the national debt.

Some people DESERVE to ride in their own custom spaceship, and others do not, some folks apparently believe. Would you distribute wealth more evenly so that no one wants — as the religions tell us to — or continue the inequity for the irrational fear that ambition to better oneself would somehow die if everyone had secure access to good food/shelter/education?

The American Dream of advancing oneself through hard work is now more easily obtained in the EU or Scandinavian countries than in the US. Will the American public ever have Congress serving them again now that SCOTUS made corporations into people?

“And you can’t fight the tears that ain’t comingOr the moment of truth in your liesWhen everything feels like the moviesYeah, you bleed just to know, you’re alive.”

The ultra-rich manipulate so they don’t have much income, thus low taxes. Only a tax on “wealth” would resolve this.

Now this is funny!

They miss their republican tax breaks so they raised the price of everything.

I second that after my taxes were done today

Poor rich people want actual poor people to pay more in taxes.

At the very least, they should fix the thing that allows capital losses to carry over into the next fiscal year. That single change has allowed a great many billionaires to milk a loss for year after year after year — basically, rich people (who primarily get taxed on stock sales and things like that) only get taxed when the liquidate assets so they can go buy stuff. But if they also suffer some big loss, that offsets all of that and they don’t have to pay taxes on it. Bankrupt a company one year, and you can live large tax-free for the next ten years if you play it right. It incentivizes failure by turning it into a multi-year tax haven.

Meanwhile, if you or I get hurt and have to pay a whopping huge medical bill and lose our job as a result and declare bankruptcy, that doesn’t do squat to shelter us from taxes. Because it’s not a capital loss. And anyway, that kind of a loss only shelters capital gains taxes; it doesn’t help with income tax. (On a TOTALLY UNRELATED note, did you ever notice how a lot of corporate executives have weirdly tiny salaries, like $1 a year, and then get paid primarily in stock? Yeah, that’s why. Because salaries are taxed differently than capital gains.)

Total disappointment and total troll Joe Manchin is against it also.

Biden plans to tax unrealized gains. This is unconstitutional. The Supreme Court decided in Eisner v. Macomber that unrealized gains are not income under the 16th Amendment. In order for something to be taxed, realization must first be done.

To put it another way, suppose a relative of yours passed away and bequeathed you a cottage. When inspecting the attic of this old place, you happen to find a Stradavarius, an Inverted Jenny postage stamp and a copy of Superman #1. Your wealth has greatly increased as you now own goods of high value, but your income has not. The only way you could make money from owning those rare items is to sell them, which is realization. Until that day comes, it is unrealized.