I keep posting the same comment. These people are robbing all of us of our prosperity. We could all be living in utopia…
Thieves!
The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax
Submitted 4 months ago by return2ozma@lemmy.world to aboringdystopia@lemmy.world
Comments
sturlabragason@lemmy.world 4 months ago
blindbunny@lemmy.ml 4 months ago
They are deciding our standard of living.
“This Is What Our Ruling Class Has Decided Will Be Normal” -Aaron Bushnell
sturlabragason@lemmy.world 4 months ago
blindbunny@lemmy.ml 4 months ago
Can we eat them now? I’m starving
Fedizen@lemmy.world 4 months ago
These are the people destroying our world with their greed.
ShaggySnacks@lemmy.myserv.one 4 months ago
Warren Buffet is hypocritical piece of shit.
No one among the 25 wealthiest avoided as much tax as Buffett, the grandfatherly centibillionaire. That’s perhaps surprising, given his public stance as an advocate of higher taxes for the rich. According to Forbes, his riches rose $24.3 billion between 2014 and 2018. Over those years, the data shows, Buffett reported paying $23.7 million in taxes.
That works out to a true tax rate of 0.1%, or less than 10 cents for every $100 he added to his wealth.
damnedfurry@lemmy.world 4 months ago
My “true tax rate” is a low single digit number too, if you measure it the same way, and I make ~$50k a year.
It’s extremely disingenuous to talk about taxes paid as a percentage of income, and as a percentage of total wealth/net worth, in the same breath.
It’s also extremely disingenuous to say someone is ‘avoiding tax’ by not paying tax on their unrealized gains in net worth. He doesn’t OWE any tax on that. NOBODY in the US does.
AlotOfReading@lemmy.world 4 months ago
Normal people regularly owe taxes on unrealized gains. That’s what property tax increases are.
ShaggySnacks@lemmy.myserv.one 4 months ago
Nothing steps Warren Bufffet from taking an income instead of relying upon their wealth.
Lemming6969@lemmy.world 4 months ago
How can they offset earnings with investment losses when the maximum is like $3000/year from that method?
Sanctus@lemmy.world 4 months ago
We can do something about this. But there needs to be tens or hundreds of millions of us on the same page. Doubtful.
sturlabragason@lemmy.world 4 months ago
It’s due for an update (I’ve gotten some grief about the block chain part and also that I used ChatGPT to help me. Write it down initially) but…
I believe the solution is to transition to a new system, which they cannot tamper with and can’t control.
NocturnalMorning@lemmy.world 4 months ago
Title is a little bit clickbaity. The reason a lot of them aren’t paying much in taxes is bcz their asset values grew. But if you arent selling it, there’s no tax to pay. The headline makes it seem like they just aren’t paying any taxes at all.
While there’s criticism to go around when it comes to the tax laws around billionaires, this isn’t really it.
ohlaph@lemmy.world 4 months ago
Cashing dividens or taking personal loans ahould come at a higher cost for people worth billions. Me cashing a $45 dividens check is much different than Buffet cashing a $250m check.
Boozilla@lemmy.world 4 months ago
Parasites. Job creators, my ass.
OberonSwanson@sh.itjust.works 4 months ago
Meanwhile, my long disabled cousin just started receiving SSI after 2 years of them dragging their feet. 2 months in, he now has them again, requesting pension forms, paystubs for work, unemployment compensation forms and life insurance policies. All things he already reported he never had due to his disability. It’s like they’ve suddenly believed things changed in that time window. The whole system seems to be broken, which might be intentional.
thurstylark@lemm.ee 4 months ago
You don’t need to break a system to make it broken, just never maintain it and it’ll break itself!
See: Insurance companies