The American Scam: wealthiest americans paid from .1%-3% taxes while average americans 15%-30%

[spurraider21]

Sorry to inform you but taking advantage of tax loopholes isn't confined to one particular party. It's really the .3% (maybe even .1%) vs everyone else.

agreed. but only one party has a wing that wants to aggressively change the tax code to go after that 0.3%, while the other party just cut their taxes a few years ago

[SpursforSix]

agreed. but one one party has a wing that wants to aggressively change the tax code to go after that 0.3%, while the other party just cut their taxes a few years ago

I didn't disagree with the tax break you're talking about as it applied to most small businesses. If you're talking about the 15% break. The problem is applying over all businesses regardless of their profitability or size.
I don't really know how to get around that without hiring a massive amount of IRS agents that look at every business on an individual basis. I guess the same thing could be said about the stimulus packages.

[spurraider21]

I didn't disagree with the tax break you're talking about as it applied to most small businesses. If you're talking about the 15% break. The problem is applying over all businesses regardless of their profitability or size.
I don't really know how to get around that without hiring a massive amount of IRS agents that look at every business on an individual basis. I guess the same thing could be said about the stimulus packages.

and cutting income tax rates across the board, including the wealthy (though middle class cuts were only temporary), cutting the corporate tax rate, doubling the estate tax exemption...

[DMC]

Not sure specific tax benefit you're even talking about but creating multiples en ies for each new deal isn't some novel concept and it does nothing in and of itself to reduce tax liability , most of those en ies are pass through LLCs that get taxed the same way that their parent en y does.

You already know hater is lying his ass off, closest he ever came to "large corporation" is running a leaf blower on the grounds.

[hater]

Not sure specific tax benefit you're even talking about but creating multiples en ies for each new deal isn't some novel concept and it does nothing in and of itself to reduce tax liability , most of those en ies are pass through LLCs that get taxed the same way that their parent en y does.

another example, the use of a s company in a tax haven makes it possible to move profits to that s company, in a strategy called tax evasion. A United States company buying products from overseas would have to pay US taxes on the profits, but to avoid this, it may buy the products through a non-resident s company based in a tax haven, where it is described as an offshore company. The s company would purchase the products in its name, mark up the products and sell them on to the US company, thereby transferring the profit to the tax haven. (The products may never actually physically pass through that tax haven, and be shipped directly to the US company.) As the s company is not based in the United States, its profit is not subject to US income tax, and as it is an offshore company in the tax haven jurisdiction, it is not taxed there either. Under the tax haven law, the profits are deemed not to have been made in the jurisdiction, with the sale deemed to have taken place in the United States.


Wikipedia

[Spurs Homer]

Sorry to inform you but taking advantage of tax loopholes isn't confined to one particular party. It's really the .3% (maybe even .1%) vs everyone else.

never said or thought it was only one party -

but this is not news and the tax scam was just more of a transfer of wealth - yet cult supporters cheered it on

[ElNono]

How about Soros and Bill Gates though? I know Soros gives employment to millions of antifa heroes, tbh...

[pgardn]

You have to educate yourself and take advantage of what can be legally taken advantage of. It's all right there, you just have to ferret it out. That's what the wife is for.

Me, myself and I...

Except not on your level.

[hater]

You already know hater is lying his ass off, closest he ever came to "large corporation" is running a leaf blower on the grounds.

I wish I was lying Nancy. Im not proud of it

[SpursforSix]

and cutting income tax rates across the board, including the wealthy (though middle class cuts were only temporary), cutting the corporate tax rate, doubling the estate tax exemption...

I’ll take your word for it. I’m definitely not tuned in to all that.

[SpursforSix]

10526801[/URL]]never said or thought it was only one party -

but this is not news and the tax scam was just more of a transfer of wealth - yet cult supporters cheered it on

Idk. As to the transfer of wealth, it happens every time there’s a market correction. The people that need the money cash out and those that don’t 1) hold, 2) buy more, 3) short

[spurraider21]

I’ll take your word for it. I’m definitely not tuned in to all that.

Wouldn’t ask you to take my word for it. Can wiki the tax cuts and jobs act of 2017

[Spurtacular]

[boutons_deux]

Private Inequity:

How a Powerful Industry Conquered the Tax System

The I.R.S. almost never audits private equity firms,

even as whistle-blowers have filed claims alleging illegal tax avoidance.

https://www.nytimes.com/2021/06/12/b...ity-taxes.html

[CosmicCowboy]

Your gas tax numbers are ridiculously wrong.

[CosmicCowboy]

Fed + state tax in Texas is 38 cents per gallon

[spurraider21]

They’re taking the per gallon gas tax and thinking it’s a %

[Ef-man]

They’re taking the per gallon gas tax and thinking it’s a %

Will not mention names but math was never a thing for the low iq.

The low iq get fooled by gab every time.

[DMC]

They’re taking the per gallon gas tax and thinking it’s a %

If gas was a dollar a gallon though

[DMC]

btw no one earning only 100 pays 33% income tax

It's like saying "if you earn 1 dollar and pay 33% income tax, that leaves you with 67 cents. Then you buy something for 67 cents and pay taxes, you're ing BROKE! and all you have to show for it is 67 cents worth of !"

[spurraider21]

If gas was a dollar a gallon though

indeed

[Will Hunting]

btw no one earning only 100 pays 33% income tax

It's like saying "if you earn 1 dollar and pay 33% income tax, that leaves you with 67 cents. Then you buy something for 67 cents and pay taxes, you're ing BROKE! and all you have to show for it is 67 cents worth of !"

Anyone paying a 33% effective tax rate needs to fire their accountant

[DMC]

Anyone paying a 33% effective tax rate needs to fire their accountant

hater

[DMC]

Of course Im jealous. I pay 30% taxes while these s pay single digits mostly

Only an idiot would not be pissed, Nancy

Anyone paying a 33% effective tax rate needs to fire their accountant

[ElNono]

btw no one earning only 100 pays 33% income tax

It's like saying "if you earn 1 dollar and pay 33% income tax, that leaves you with 67 cents. Then you buy something for 67 cents and pay taxes, you're ing BROKE! and all you have to show for it is 67 cents worth of !"

It's written for dumb, dumb people. Apparently, some fell for it.