Some of you sounds like straight haters.
Let's see how this plays out. Trump changing the tax code to make his friends richer pissed me off.
Let's see how this plays out. Trump changing the tax code to make his friends richer pissed me off.
-
Ever wanted an RSS feed of all your favorite gaming news sites? Go check out our new Gaming Headlines feed! Read more about it here.
Bernie Sanders to propose dramatic expansion in estate tax on richest Americans, including 77 percent rate on billionaires
- Thread starter Deleted member 22490
- Start date
- Status
Stuff like this won't help the country and people who are that rich will probably flee. Plus, it will create a cycle of people earning their money then doing the dash from America.
It's just the GOP doing what they exist for, protecting the super wealthy.
Is that really true though. I always hear these stories whenever one proposes to tax the super wealthy more.
The rich should be proud to pay huge taxes and brag about things like this. They should lean into it and work with it.
And they should be ashamed the GOP are trying to further enable the worst of the rich assholes to hoard the nations wealth. They should be fighting against this shit and those assholes if they really want to help.
Whatever increase in estate tax makes it way through, that money would be pretty useful in large scale transitioning to green energy, new jobs and ending homelessness in the future.
And they should be ashamed the GOP are trying to further enable the worst of the rich assholes to hoard the nations wealth. They should be fighting against this shit and those assholes if they really want to help.
Whatever increase in estate tax makes it way through, that money would be pretty useful in large scale transitioning to green energy, new jobs and ending homelessness in the future.
That's the thing though, a lot of them don't want to help (sure, there's guys like Gates and Buffett). The vast majority of them want to keep everything for themselves and have rigged the system to do so.
That's why you hear guys like Michael Dell talk about charities and things like that. It's not about actually helping, it's about appearing that they are will still protecting their assets.
Good. If I'm lucky, by the time I'm middle aged billionaires and mega corporations wont be a thing
Well, at least across Western nations there could be enough collaboration to achieve that. Tight tax law to avoid loopholes are also necessary.
But the main argument I personally heard from millionaires and corporations against higher taxes is an economic one.
They claim, and I guess they also sincerely believe that, that they are better able to handle these significant amounts of money than the government.
Their thought process is pretty ROI(return on investment) based. They have a pretty good grasp on the usually ROI rates they can expect from their money and they assume its much high than whatever the government would do with it.
But thats a fundamentally flawed way of thinking about it. Because the main reason for higher taxation is the goal of a better welfare state.
The welfare state is basically an investment into the health, education and social safety of the population and even though the ROI here is practically impossible to determine, often delayed over decades and distributed in confuse ways, it is safe to say that it more than favorably compares to whatever ROI can be expected from traditional investments.
Its a way to better realize the full potential of a society.
They stole our money. We just need to make laws to take it back.
That's what social democracy is good at: layering in competitive capitalistic ways of doing business, but smoothing out the unequal distribution of compensation after the fact to make it more equitable...more in line with the way it should have originally been distributed, but without sacrificing the things that capitalism is good at.
If he had won in 2016, the Republicans wouldn't have necessarily taken control of the Senate/House. You can't just assume "if Bernie won, everything else would have been exactly the same."
I can't say for certain, but I'm sure it depends on how long a person can tolerate something before it becomes an annoyance to them.
Could someone familiar with how taxes in the US are paid elucidate for me the practicalities of this? How a $101B figure would be collected? It's not like Bezos' wealth is all liquid and a portion of this can just be transferred to the IRS' accounts. Are heirs required under the law to liquidate the non-liquid assets and pay out, or to transfer the shares to the IRS?
I have no problem with taxing the super wealthy at a higher rate but what I'd really like to see is a balanced budget in government along with a dramatic reduction in wasteful spending. All levels of government seem to only know how to tax more and spend more. It's sickening.
over trump, abso-fucking-lutely
this presume that everything is exactly the same except bernie wins.
They'll say "but then they'll leave the US"
To which I say, good. They're clearly not spending their money here anyway.
To which I say, good. They're clearly not spending their money here anyway.
No one wants wasteful spending, the conflict is about what is (and isn't) "wasteful".
I support eliminating wasteful spending in theory, however whenever I ask for specific examples I usually don't get a response. What government programs and/or services do you consider to be wasteful?
Eh. We need serious budget reform at both the State and Federal level in the U.S. AFTER that is accomplished, then we can evaluate and determine if a lack of tax dollars is holding us back and, if it is, how much we actually NEED.
We wouldn't have Kavanaugh and Gorsuch. Who gives a shit if Republicans blocked everything else.
There's no reason for people to inherit billions or even millions of dollars outside perhaps for family businesses/farms, and even that's up for debate.
Liquidate
Liquidate
Last edited:
Someone should create an animated chart that explains visually to people what high marginal tax rates actually do to individual wealth - an embarrassing number of Americans and their elected officials seem to think it is some sort of cap on earnings - have the (growing) billionaire column represented by superyachts or Lamborghini Aventadors so they can better grasp the scale like you would trying to think about our sun vs Canis Majoris.
This isn't even a visually hyperbolic example. The sun maybe too big comparing a single mom to Jeff Bezos. earth or Jupiter might be better comparisons - and you can fit a thousand Jupiters or a million plus earths.
This isn't even a visually hyperbolic example. The sun maybe too big comparing a single mom to Jeff Bezos. earth or Jupiter might be better comparisons - and you can fit a thousand Jupiters or a million plus earths.
Last edited:
The people targeted by that bill don't NEED all that money either.
Restrict the liberty of the capital account so the transfer of assets and cash (certain size and amount) is strongly limited. China does quite well in this regard.
But mah FREEDOM!
Bernie's pretty good for moving the Overton Window but he's a garbage career politician with a truly heinous, tone-deaf relationship to social issues. He'd be a rotten president but I'm glad for his contribution in moving some of the conversations leftward.
No one is suggesting that.
But really, all he's doing is posturing. This will never make it past the Senate (probably not even the House), so it's bullshit and he knows it. That's my main issue with Sanders, he can't deliver on anything that he's selling and he doesn't even try to explain how he would get most of this done.
Ah, the old "all government spending is waste" canard. People my grandpa's age really like that one. Thankfully, demographics are trending away from them.
I'm not normally so drawn to the circus of trolling blue checkmarks on twitter and the rich, but given the increasingly manic rush to declare higher and higher taxes on the toenail clippings of the wealthy and Howard Schultz's response of running as a mildewy bath towel I'm pretty excited to see more pictures of wild eyed businessmen nervously saying "hehe... but thats crazy... we can't... I mean what are you proposing that we live in Venezuela?"
Can we just do a quick exercise here? Only using his official platform as your source, can you point out the positions he has that are "truly heinous?" https://berniesanders.com/issues/
Or is it not actually about anything he believes, espouses, proposes, or has voted for in his career as a Senator and Representative/signed into law as Mayor of Burlington?
Oh no, people who are only hoarding wealth and will never spend it will flee, what a shame.
How about the government spending hundreds of thousands of dollars to see how cocaine effected the sexual behaviors of birds? Or the pentagon spending tens of millions of dollars to license camouflage uniforms from Afghanistan when the could have used something they already had.
If they're still citizens, then you can go after their assets anyway even if they leave, and if they want to renounce their citizenship, charge them an exit tax.
Fuck generational wealth. Not the biggest fan of Bernie but he's 100% in the right here.
I hate that you hate him and I of course disagree (aside that he could be much better with social issues such as racism), but I'm glad you at least see what he's doing.
For those saying the billionaires would just leave and set up shop elsewhere are underestimating the political cost of doing so as it would undermine their influence in many ways, some that would hurt the bottom line - especially if we gradually move towards societal acceptance of taxing the 1%. And where would they go? Norway? Not many have the stamina to live in Switzerland for 12 years to get citizenship..
Generational wealth / the rentier class is incredibly damaging and one of the prime drivers of rising income equalities
Generational wealth / the rentier class is incredibly damaging and one of the prime drivers of rising income equalities
Last edited:
You're pushing me further left and I think the estate tax should be over 100% now.
When a rich guy does, his failsons will have to work off the 2000% estate tax debt.
Why would anyone want to be governed by a 77 years-old guy? I think politics should have a limit of 40 years old for candidates. Why? You want people who are in touch with the current generations, not a dinosaur. This is why I like seeing presidents like Macron despite the awful decisions they make...at least it's not someone who could die of a heart attack tomorrow.
OP
OP
You'd rather have someone who makes horrible decisions because they are young over an old fart who makes good decisions?
The taxes apply so long as you're a US citizen. If you just move out of country, that doesn't do anything unless you also renounce your US citizenship. If you do, the estate tax still applies if the assets being bequeathed are US-based assets. Plus, renouncing your citizenship incurs an exit tax, which taxes all your assets (which you were presumably trying to avoid being taxed by renouncing your citizenship).
The bird story is a myth. Birds were used in a study as lab animals - i.e. as a proxy to study the behavior of how humans and all other animals react to long-term cocaine use, and it wasn't just sexual behavior, and it is not an ongoing program, and it was under $200k. If not studying the effects of drugs sounds good to you, then you're fucking up.
- Status