So biden proposes changes that the likelihood of congress passing is close to zero to appease his groupies.....
so biden wants to raise taxes on the wealthy who literally have so many write offs they never have to pay taxes! Anyone falling for that?
Biden will fail in the popularity polls and then resign. Hello President Harris and also whoever she shall choose as VP. I predict a July event connected to House investigations and also their wild threat of USA bankruptcy.
Riddle me this bat men and women, how do you raise taxes on people that have so many write-offs they dont pay taxes in the first place? the whole thing is excellent but the 2:40 mark forward is what Im talking about
They pay taxes on what they spend not their accumulation of wealth. Biden proposes a tax on accumulation. Such wealth is an abstraction that may or nay ever be realized. It's a casino economy.
Then you certainly cant say there exits loopholes if you cant list even one! pretending that raising taxes on people who dont pay taxes will pull in more money! LOL You dont see the humor in that asshattery? Right up there with the trumpsters wall! Nice soothing propaganda though. Only needs to last long enough to get a vote for these guys.
Here's a list of a few with the source listed after. Property Depreciation Claims Business Expenses Nepotism Net Operating Losses Earning on Investments Deducting Property Taxes for Second Homes and Rental Properties Selling Inherited Real Estate Health Savings Accounts Deferring Your Income https://taxsaversonline.com/tax-loopholes-for-the-rich/ Roll Forward Business Losses Buy Whole Life Insurance Open a Solo 401(k) Plan Tax Tricks and Loopholes Only the Rich Know | GOBankingRates To say you can't raise taxes on those who use loopholes or don't pay taxes is kinda silly unless you just want to play semantics. We could raise the tax rate on the rich. In the 50's and 60s they paid at a top rate of 91% today it's 43.4%. In 2014 the richest 1% with an annual income of about $823,763 payed at a rate of 24.7%, those making $75,000 payed 19.7% In 2009 1,470 households making over 1 million paid zero in Federal taxes. Etc. ~ Americans for Tax Fairness
back to popular myth = correct assessment I see, LOL Ah, ok, got it! As far as you 2 are concerned the word 'exemption' = loophole LOL Well then I think we should get rid of the personal 'exemption' that you get to take since you have now defined loophole as exemptions, unless you wish to come up with a real 'loophole' in the tax code. Maybe get rid of all exemptions entirely, for everyone, is that what you are promoting? and I never said or implied there is no such thing as a loophole, nice strawman, reading problems again?
The rich who wish to avoid taxes exploit legitimate deductions to avoid paying taxes. Most of us can't afford to use the legal deductions that are open to the wealthy. That's why the rich and corporations have lobbyists, to get the law to favor them.
Go on yahoo news and ask for the 50 richest corporations that paid NO FEDERAL TAXES . I suppose what they did / did not do was legal---frankly I don't give a fuck about that---it NEEDS TO END.!! If Biden or anyone else ( republicans puke at the thought) that can get it done will help the country and the taxpayers that have to make up for this.
Sure you are looking at expert asset management you dont need to be a corporation or wealthy to take advantage of the greater majority of those deductions.