#Billionaires Income Tax

[politijohn]

Source

Eat the rich

#income inequality #wealth inequality #billionaires should not exist #eat the rich #tax the rich #socioeconomic inequality #economic justice

[queerism1969]

#eat the rich #fuck capitalism #wealth inequality #working class #anti capitalism #current events #tax the rich #lgbtqia #lgbtq community #income inequality #billionaires #the left #gay girls #queer #lgbtq

[aspiringbogwitch]

#anti capitalism #eat the rich #capitalism #anticapitalism #anti billionaires #billionaires should not exist #tax the rich #tax avoidance #wealth hoarding #wealth gap #wealth inequality #income inequality

[sordidamok]

Programs like this always show the same results - people are better off and better able to participate in life and society in healthy ways when they are financially secure. It's past time to make universal basic income a reality for all Americans.

#universal basic income #vote blue #universal healthcare #tax the rich #tax the 1% #tax the billionaires #billionaires should not exist #living wage #democrats #democracy #vote biden #vote blue to save democracy #vote blue 2024 #vote democrat #democratic socialism #social democracy #democrats now socialism later

[lilithism1848]

#leftism #anti capitalism #communism #socialism #anarchy #late stage capitalism #capitalism #financial #business #tweet #billionaires #economy #economics #taxes #eat the rich #fuck the rich #celebration #rich life #millionaire #income inequality #wealth inequality

[tomorrowusa]

Trump promised billionaires at his Florida fundraiser that he will keep their taxes way low.

Keep in mind that Republicans endlessly whine about the national debt and use the debt as an excuse to cut healthcare. In fact, the debt has skyrocketed thanks to GOP tax breaks for the filthy rich this century.

Income inequality will only get worse under a Trump "dicataorship on day one" second term.

Donald Trump promised to keep billionaires’ taxes low at a fundraising dinner Saturday night in Palm Beach, Fla., held at the home of billionaire John Paulson. A Trump campaign official told NBC News that the former president “spoke on the need to win back the White House so we can turn our country around, focusing on key issues including unleashing energy production, securing our southern border, reducing inflation, extending the Trump Tax Cuts, eliminating Joe Biden’s insane [electric vehicle] mandate, protecting Israel, and avoiding global war.” NBC News requested to have a reporter present at the fundraiser, but the campaign refused.

Wanton greed is what motivates billionaires who are willing to toss freedom and democracy out of their yacht window.

Some billionaires who abandoned Trump in the wake of Jan. 6 and who supported his opponents in the primary have come crawling back to the former president in hopes of keeping their tax burden low. Billionaire investor Nelson Peltz — who apologized after Jan. 6 for supporting Trump, telling CNBC, “I’m sorry I did that” — recently hosted a breakfast at his Palm Beach mansion attended by Trump and several other billionaires, including Steve Wynn and Elon Musk, according to The Washington Post. Oracle’s Larry Ellison is also considering cutting Trump’s campaign a check, while billionaire heirs Richard and Elizabeth Uihlein told the Financial Times that they intend to donate to the former president’s campaign.

Essentially, Trump and the billionaires want to Make America Russia. An autocrat running the country who funnels wealth to the already filthy rich oligarchs.

This is not an election any of us can quietly sit out. It's necessary to become more active, make more donations, and be more outspoken than previously anticipated.

Re-elect Biden and the Trump tax cuts for billionaires expire on schedule. It's really that simple.

#donald trump #tax breaks for the filthy rich #make america russia #nelson peltz #greed #billionaires #income inequality #national debt #trump tax cuts #dictator on day one #election 2024 #vote blue no matter who

[emperornorton47]

#trickle down economics #billionaires #taxes #income tax #mythology #jobs

[reasonsforhope]

“Democrats in Congress released thousands of pages of former President Donald Trump’s tax returns Friday, providing the most detailed picture to date of his finances over a six-year period, including his time in the White House, when he fought to keep the information private in a break with decades of precedent.

The documents include individual returns from Trump and his wife, Melania, along with Trump’s business entities from 2015-2020. They show how Trump used the tax code to lower his tax obligation and reveal details about foreign accounts, charitable contributions and the performance of some of his highest-profile business ventures, which had largely remained shielded from public scrutiny.

The disclosure marks the culmination of a years-long legal fight that has played out everywhere from the presidential campaign to Congress and the Supreme Court as Trump persistently rejected efforts to share details about his financial history — counter to the practice of transparency followed by all his predecessors in the post-Watergate era...

The release marks the latest setback for Trump, who has been mired in investigations, including federal and state inquiries into his efforts to overturn the 2020 election. The Department of Justice also has been investigating reams of classified documents found at his Mar-a-Lago club and possible efforts to obstruct the investigation...

“Trump seems to be creating huge losses that are suspicious or questionable under current law,” said Steven Rosenthal, a senior fellow at the Urban-Brookings Tax Policy Center, who said he had spent 20 years preparing taxes for corporations and wealthy individuals and “never saw anyone lose money as regularly and as large as Trump lost money year after year...”

In October 2018, The New York Times published a Pulitzer Prize-winning series based on leaked tax records that contradicted the image Trump had tried to sell of himself as a self-made businessman. It showed that Trump received a modern-day equivalent of at least $413 million from his father’s real estate holdings, with much of that money coming from what the Times called “tax dodges” in the 1990s.

A second series in 2020 showed that Trump paid no income taxes at all in 10 of the previous 15 years because he generally lost more money than he made.” -via AP News, 12/30/22

We FINALLY have Trump’s full tax information, as we should have from the beginning! And they prove what we have long had evidence of: he’s a terrible businessman, a huge fraud, or more likely both.

#trump #new york #us politics #us congress #income tax #fraud #tax fraud #billionaire

[randyite]

#billionaire #wealth inequality #income inequality #income tax #wealth tax #student loan #student loan debt #pandemic #oligarchy

[ivygorgon]

No free rides for old money! - Pass The Billionaires Income Tax Act! (S. 3367)

I am writing to express my strong support for the proposed S. 3367 bill, which aims to amend the Internal Revenue Code of 1986. This legislation represents a crucial step towards achieving economic justice by seeking to eliminate tax loopholes that have allowed billionaires to defer taxes indefinitely. By doing so, we would be ensuring a fairer distribution of wealth and rectifying a system that has long favored the ultra-wealthy. Additionally, the bill modifies over 30 tax provisions, requiring billionaires to contribute annually. It's time to ensure that those with the most significant influence and wealth contribute proportionately to our society's well-being. Therefore, I urge you to support and pass the Billionaires Income Tax Act.

Billionaires have amassed vast wealth, often at the expense of their employees who struggle to make ends meet on minimum wages. It is only just and equitable that they pay their employees a living wage AND contribute proportionally to the betterment of our society.

Furthermore, if billionaires wield significant influence over our government and policy-making, they should demonstrate their commitment by financially supporting the very system that has allowed them to prosper. No longer should they enjoy free rides on the backs of hardworking taxpayers. It is past time to ensure that billionaires are contributing their fair share to the well-being of our country.

Passing the Billionaires Income Tax Act is not only a matter of fiscal responsibility but also a moral imperative. It is time to ensure that our tax system is fair and equitable for all, not just the wealthy few.

Thank you for considering my views on this important issue. I urge you to stand on the side of fairness and justice by supporting S.3367.

No free rides for old money!

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#eat the rich #Wealth Redistribution #ivy petitions #open letter #S. 3367 #Billionaires Income Tax Act #Tax Reform #economic justice #us politics #taxes #tax the rich #billionaires should not exist #Tax Fairness #Wealth Distribution #oligarchy #Tax Loopholes #Tax Provisions #Billionaires Tax #Living Wage #Tax Responsibility #Policy Change #Government Influence #Social Justice #Fair Taxation #Income Inequality #Progressive Taxation #Wealth Gap #Tax Policy #Tax Reform Now #Billionaire Responsibility

[politijohn]

Source

#eat the rich #politics #billionaires should not exist #us politics #capitalism #wealth tax #income inequality #corruption #government #current events #news #tax the rich #education #health care

[queerism1969]

#eat the rich #richarlison #tax the rich #rich #rich people #billionaire #money #luxury #expensive #wealth #workers #workie #wealth inequality #basic income #free education #free healthcare

[arctic-hands]

I wonder how many scientists and artists, both of whom make the world pretty, we'd have if we eliminated poverty so no one would be forced to work and everyone, child and adult, had access to education

#capitalism #tax billionaires feed the world build schools #universal basic income #free college #my socialist utopia

[nick-eyre]

I think the worst thing about getting older is that giving to people in need doesn’t make me feel altruistic anymore it makes me mad at the government

#why is it my job to give an old man $5 for a snack when we could tax billionaires and have a universal basic income #im still gonna do it and smile but im mad at you society

[busylilbee]

The benefit of providing childcare for a well-off family who pays you well and uses your services a lot: Money!

The Sad: Fucking T a x e s

#based on how much i made this month i am DEFINITELY going to hit the rax threshold #like...within another month. #i am very happy to be eadning income #i am less happy that despite earning a livable wage i am still required to fill out multiple forms and do hool hopping #like bruh i am a full time fucking study please have mercy #this is my side gig #why is the tax threshold for babysitting fucking $2600 in a YEAR #WHY DO YOU NEED MY MONEY #THATS LESS THAN $3000 YOU BITCH #it is my personal opinion that if you make less than like...idk $15k-20k in a year in total you should not need to pay taxes #thats not livable!! #if some poor bitch (me) is making like $10k a year from a part time job while going to school uncle sam should fuck off #go tax the fucking billionaires PLEASE #they do NOT need all that money!! #people are out there earning MAYBE $40k while providing for multiple children and Suffering #and then theres the pigs who have private jets #anyways #personal #i really love the family i work for though theyre so good #they pay me well and theyre PLEASANT and the kids are a hoot #like i actually feel for once that i am being paid equivalent to my value #which is a shock #the last 2 jobs i had steadily sucked the will to live out of me as i was severely underpaid for the work i did #and i still had to pay fucking taxessssssssssssssssssssssss #even though i didnt make nearly as much as i am with this family #i hate money shit i wish i lived on a self sustaining farm in a small village with a doctor and a cobbler or something #jm so tired

[tomorrowusa]

^^^ This is why people think things are getting worse. 1% of the US population owns 31.4% of the nation's wealth.

This is the result of massive tax breaks for the filthy rich which began under Republican Ronald Reagan in the early 1980s, were boosted twice by Republican George W. Bush in the 2000s, and got a big boost under Republican billionaire Donald Trump.

David Leonhardt at the New York Times writes...

The simplest explanation for the shift is that the old economic approach hasn’t worked very well for most Americans. Starting in the 1980s, the U.S. moved toward an economic policy that’s variously described as laissez-faire, neoliberal or market-friendly. It involved much lower taxes for the wealthy, less regulation of business, an expansion of global trade, a crackdown on labor unions and an acceptance of very large corporations. The people selling this policy — like Milton Friedman, a Nobel laureate in economics — promised that it would bring prosperity for all. It has not. Incomes for the bottom 90 percent of workers, as ranked by their earnings, have trailed economic growth, and wealth inequality has soared. For years, Americans have told pollsters that they were unhappy with the country’s direction. Perhaps most starkly, the U.S. now has the lowest life expectancy of any affluent country; in 1980, American life expectancy was typical. Conventional wisdom rarely changes quickly. Friedman and his fellow laissez-faire intellectuals spent decades on the fringes, before the 1970s oil crisis and other economic problems caused many Americans to embrace their approach. But conventional wisdom can change eventually. And after decades of unmet promises about the benefits of a neoliberal economy, more people have grown skeptical of it recently.

Massive tax breaks for the filthy rich as a means of boosting economic growth for all was once regarded as fringe economics – until Ronald Reagan took office. Even the man who became Reagan's vice president referred to such a policy in the 1980 primaries as "voodoo economics" – but to no avail. It has largely overshadowed economic policy for the past 40+ years.

There were only two exceptions. In 1993 when Democrat Bill Clinton raised taxes on the filthy rich. The economy soared and the 1990s became the most prosperous decade since the 1950s. And in 2013 Democrat Barack Obama let the Bush tax breaks expire. Sadly, Trump and the then GOP majorities on Capitol brought back the Bush tax breaks in 2017 and have been ironically blaming poor people for the subsequent rise in the national debt.

As president, Trump often contradicted his own populist rhetoric. (His one big piece of legislation was a tax cut that mostly benefited the rich.)

There needs to be a repeal of the Reagan-Bush-Trump tax giveaways to billionaires like Elon Musk.

One stat which Republicans don't like hearing is that in the mid 1950s, the highest federal income tax rate was 91%.

Republicans are nostalgic about some stuff about the 1950s like Jim Crow laws and suppression of women and gays. But they don't talk about the federal tax rate on the filthy rich which helped build the Interstate Highway System and provided low cost college education to the masses.

We don't need to go back to a rate of 91% for the Musks, Trumps, and Zuckerbergs. But just under half that rate would dramatically restore economic balance in this country. And the ONLY way to get there is to keep promoting growing Democratic majorities in Congress and electing Democratic presidents. Votes for third party losers are about as helpful as used toilet paper.

#usa #wealth inequality #income inequality #republican tax breaks for the filthy rich #voodoo economics #ronald reagan #george w. bush #donald trump #billionaires are the main beneficiaries of republican rule #prosperity = higher taxes on the rich #vote blue no matter who #election 2024