The Soapbox

Joined: 06/03/2005 Posts: 31019
Likes: 52358

What's this?

Yeah, I just get annoyed with the whole

“Rich don’t pay their ‘fair share’ / the rich have all of these tax loopholes” canard. It’s certainly better to be rich than poor on every front, but the rich shoulder a hugely disproportionate share of the tax burden in this country (which is fine, I just hate when people pretend that is not the case…. Obviously not directed at you)

With regard to the super wealthy, If you want to tax the Jeff bezos and mark zuckerbergs of the word… your options are a) a wealth tax or b) a forced mark to market for unrealized capital gains. Both would be a mess. But raising rates on w2 income accomplishes nothing when it comes to the wealthy not paying their fair share.

(In response to this post by PBCHoo)

Posted: 10/21/2021 at 11:22AM

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Current Thread:

Joe Manchin wants to add a work requirement to the child tax credit -- FrankGallagher 10/21/2021 07:09AM

Not really, he just wants to return it to normal ** -- GoochlandHoo 10/21/2021 09:51AM

Without commenting on whether this makes sense, -- fphoo 10/21/2021 08:21AM

10% of working age population on SSDI is insane. I think the concept -- BocaHoo91 10/21/2021 08:52AM

I think some root cause analysis is in order. -- Faz d. Hoo 10/21/2021 09:11AM

During the 2009 crash I read about this. Apparently a LOT of people were -- 81_Hokie 10/21/2021 10:17AM

I remember even earlier reading a similar quote from an ALJ deciding SSDI -- southdenverhoo 10/21/2021 10:43AM

I read a similar article set in Grays Harbor, WA. -- PBCHoo 10/21/2021 11:14AM

In West Virginia, Id imagine a lot of work place injuries, etc especially -- HooAskedYou 10/21/2021 09:49AM

One out it 10 though? The coal industry is not -- BocaHoo91 10/21/2021 11:14AM

Indeed all the coal jobs combined are just 3% of total employment in WV ** -- southdenverhoo 10/21/2021 1:34PM

It's like 70K jobs more or less in the US. Why the hell is it such a hot -- Seattle .Hoo 10/21/2021 2:56PM

That makes some sense to me - so he understands first hand the way in which -- hoolstoptheheels 10/21/2021 08:47AM

The poverty rate just before LBJ's Great Society and the level today are -- Tuckahokie 10/21/2021 09:14AM

Must be a delay in all that trickle down money getting through -- Shenhoo 10/21/2021 11:46AM

Could be...but a large % of that money flows directly to them in the form -- Tuckahokie 10/21/2021 12:10PM

LBJ's Medicare. -- CobhamHoo 10/21/2021 09:38AM

No doubt...but I think the dramatic increase in that same time period of -- Tuckahokie 10/21/2021 09:42AM

According to the Census Bureau, it's been cut in half since 1959 -- BocaHoo91 10/21/2021 09:30AM

Everything I have seen shows a fairly steady 15%...hopefully your data is -- Tuckahokie 10/21/2021 09:32AM

Teaching a person to fish as opposed to giving him a fish. On it’s face, -- hoolstoptheheels 10/21/2021 09:19AM

Maybe it's Joe Manchin's leadership -- Hoo TV 10/21/2021 09:27AM

Yes, there is no shortage of attempts to discredit Manchin given his -- hoolstoptheheels 10/21/2021 09:47AM

Just a charade ** -- Hoo TV 10/21/2021 09:51AM

Considering the brainless moderates currently running the show -- Fuzzy Dunlop 10/21/2021 09:25AM

Can’t have too many kids rise out of poverty. Ugh, he sucks ** -- WahooMatt05 10/21/2021 07:59AM

I believe that for the moment this is the reality dems must contend with. -- hoolstoptheheels 10/21/2021 08:34AM

Ok, I’ll give you Manchin. I get his unique status as a Dem in WV -- WahooMatt05 10/21/2021 11:08AM

Watered down from initial proposal is how it works in a diverse country. ** -- hoolstoptheheels 10/21/2021 11:29AM

I think the country is far enough left that it supports -- southdenverhoo 10/21/2021 11:06AM

Perhaps - the issue in this thread does not strike me as terrible though. -- hoolstoptheheels 10/21/2021 11:30AM

I just read something I can’t remember where, maybe 538, that seemed to -- southdenverhoo 10/21/2021 2:12PM

That certainly may be. In any event, circumstances impacting elections -- hoolstoptheheels 10/21/2021 2:24PM

But no work requirement for the tax breaks to trust fund millionaires? ** -- TomGlansAski 10/21/2021 07:57AM

What are the millionaire tax breaks? ** -- BocaHoo91 10/21/2021 08:07AM

Trump’s tax cut (plus, as Goochland points out, strategies -- TomGlansAski 10/21/2021 11:27AM

The trump tax cuts that have the “rich” -- BocaHoo91 10/21/2021 11:40AM

I'm not so sure people on this board are experts -- GoochlandHoo 10/21/2021 09:50AM

Paywalled, but I think it’s even simpler than that -- BocaHoo91 10/21/2021 11:09AM

Let me ask you a question on the last sentence of the 1st paragraph -- Zhoo 10/21/2021 11:57AM

This is all about defer, defer, defer. -- BocaHoo91 10/21/2021 12:26PM

So the idea is to grow the $$$$$ until you have to pay right? -- Zhoo 10/21/2021 12:50PM

Yes. And when you’re worth billions -- BocaHoo91 10/21/2021 12:55PM

I presume he's referring to... -- PBCHoo 10/21/2021 09:27AM

What's the tax rate on capital gains for someone making $50K -- BocaHoo91 10/21/2021 09:33AM

Why would you make it deductible to the corporation? -- Zhoo 10/21/2021 1:04PM

To then tax it as ordinary income at the individual -- BocaHoo91 10/21/2021 1:44PM

Why not just allow the corporation to be a "pass through" -- Zhoo 10/21/2021 2:05PM

What’s the difference? -- BocaHoo91 10/21/2021 3:00PM

I'm not disagreeing with you. -- PBCHoo 10/21/2021 09:45AM

Yeah, I just get annoyed with the whole -- BocaHoo91 10/21/2021 11:22AM

That makes two of us. What I'm annoyed about is different though. It's -- TomGlansAski 10/21/2021 11:59AM

It’s not that I think the rich are -- BocaHoo91 10/21/2021 12:38PM

I get your point. But "fair share" is by definition subjective and people -- TomGlansAski 10/21/2021 12:40PM

I think it’s fair they pay more. -- BocaHoo91 10/21/2021 1:00PM