Shouldn't the revelation that Trump paid so few taxes be a wake up call?
The federal tax code needs to be ripped and replaced.
Replies to: Shouldn't the revelation that Trump paid so few taxes be a wake up call?
no
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It won't be changed because the donors won't permit it.
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Everyone knew already that the wealthy like Buffet avoid paying taxes.
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Lots of 1 percenters give significant donations to charity to bring down their individual tax
liabilities. This doesn’t always get mentioned when the Dems attack the rich about their effective tax rates. The Home Depot guy said they can pay more, but in doing so, then they wouldn’t donate as much to charity. I would rather see the money go to charities than our federal government that will just piss it away. The rich also create a lot of jobs. If you tax the heck out of them, it’s less money for them to invest in businesses and would hurt job growth some. The federal government is so wasteful that I personally think it’s always better for the money to stay in people’s pockets and let them decide how to spend it. Corporations get a bad rap too but that’s a different discussion. Until Trump Tax reform dropped the corporate rate down to 21%, the US had one one of the highest corporate rates in the world. You can’t be competitive with that when other countries have 12-15% corporate rates. As for certain companies paying little in tax, it’s usually due to tax credits but to get those credits, such as R&D credit, the work has to be done in the US. So the corporation benefits for making such investments in the US but the government benefits too from individual taxes due to the jobs created from such investment. This also doesn’t get discussed enough when the Dems demonize an individual or company that makes a lot of money. They are just easy targets by the left.
You've got to be kidding...how about our Military...FEMA...Justice Dept...Farm Subsidies...
Education...FDA...CDC...Nuclear Fission/Fusion development..etc, etc.?
I'm sorry to break this to you, but reliance on the whims of 1%ers won't cut it...
also, never forget that government funded basic research that gave us MRIs...Supercomputers...microchips...autonomous robots...barcodes...Human Genome Project...GPS...and many, many more products that led to major industries with jobs that pay taxes...hopefully.
never forget that government funded gain of function research that probably gave us covid.
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This is amazing!...No one else has PROOF of that claim...but YOU do!...hurry up and get it to
the NIH.......MOVE!
Fauci made Covid.
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LOL...you can be hilarious...even when you don't intend it.
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Problem is it hurts the little guy.
When I had a side business I paid around 50% of my profit in taxes. Ultimately it wasn't worth continuing it. The irony is that I used some of the money I made to pay off the wife and I's college loans.
For every side benefit, unintended consequence you find that is beneficial I can probably find more that aren't. Just simplify the damn thing and ensure everyone making money pays a fair amount.
Valid point.
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Yes. And did the Big Guy pay tax for his cut too?
The rich get richer.
Joe & Jill Biden:...24.6%.............Kamala Harris & Doug Emhoff:....31.6%....
and they're not "Billionaires"...like your Avatar (supposedly) is.
You can't seem to make a wise decision on anything.
Link: https://www.cpapracticeadvisor.com/2022/04/18/how-much-did-biden-and-harris-pay-in-taxes/49139/de