Clarence Thomas Has Reportedly Been Accepting Gifts From Republican Megadonor Harlan Crow For Decades—And Never Disclosed It

[Samm]

@toreyj01

@Samm

@H_Arendt

@WuWei

How do you know what wealthy people should or shouldn’t do?

Come to think of it, I do know what wealthy people should do.

They should pay their fair share in taxes.

If I were WuWei I would respond, “How do you know what is fair?”

They (the top 1%ers) pay 45.8% of the tax. Is that fair?

Well, the top 1 percent take home about 26% of all income generated in this country, which is a fair chunk. Their net worth is more than the entire middle class of this country, which is fairly massive. They own 2/3rds of all new wealth in this country as well. So, it seems they are doing very well these days and the divide is only growing greater. It’s a good time to be a rich person in this country, no doubt about it.

I don’t think having a minimum income tax rate above what a teacher or policeman typically pays would be too devastating to them. They game the system and pay less because they can afford accountants and know how to hide their income. But fair is fair and the country is treating them well.

That’s correct. As I said before, the wealthiest people pay almost twice as much tax on their income as you and I do.

The problem you perceive is not the rich and their accountants. They are following the law. We all have the same duty to ourselves and our families to minimize our tax liability within the law,

[Samm]

@toreyj01

@H_Arendt

@Samm

■■■■■■■■■ The data shows they earned 26.3% of the AGI and paid 45.8% of the aggregate taxes. That means they pay nearly twice as much tax per dollar earned than you and I do on average.

According to a 2021 White House study, the wealthiest 400 families in the US paid an average of 8.2% of income in income taxes. The average across all the US was 13%.

This is what I’m talking about. A minimum rate should be in place for the ultra wealthy. Not exorbitant, but 15-20% isn’t unreasonable.

The problem with that is that determining “taxable income” is complex and often subjective. You have to know what the 15-20% applies to, in order to calculate the tax due. The tax code is heavily weighted to encourage investment in the economy. If you remove that incentive, there is considerable risk that the economy would suffer, which would result in less tax revenue, not more.

[Samm]

@NCREDSTATE

That is exactly what they are doing, claiming unrealized gains as income.

New OMB-CEA Report: Billionaires Pay an Average Federal Individual Income Tax Rate of Just 8.2% | OMB | The White House

If they were to effect such a change in the tax code, my IRA would be wiped out by taxes.

[WuWei]

@toreyj01

and the country is treating them well.

What?

[Munimula1]

@Samm

@Munimula1

What do you have to trade for the free stuff?

Stimulating conversation.

Well of course, I know that

[WuWei]

Sotmayor, Kagan and Katana should recuse from any gun case from today on.

[WuWei]

https://www.cnn.com/2024/06/13/politics/video/justice-thomas-trips-megadonors-former-clerk-reacts-lead-digvid

Clerk comments

[LucyLou]

Lol ok.

“JCN president Carrie Severino, who previously clerked for Justice Thomas, says there’s nothing that’s cause ‘for real ethical concern.’”

How about judges get paid with our taxes and work for us and have no business standing there in front of wealthy people with their hands out looking for goodies. How about that?

KB should not have taken Beyonce tickets. Disappointing and still time for course correction.

[H_Arendt]

@Samm

It’s not only my opinion, it’s the definition of “business before the Court.” An amicus brief is the equivalent of a being an expert witness in a criminal trial.

Expert witnesses are paid for their time; they are advocates for one side. You can offer textbook definitions but they may not stand up to any scrutiny… as per Sotomayor’s dissent yesterday

[Ben_Natuf]

@LucyLou

KB should not have taken Beyonce tickets. Disappointing and still time for course correction.

should she have taken the 12K in artwork from an undisclosed donor?

[Ben_Natuf]

you know what doesn’t stand up to scrutiny?

a dissent

[WuWei]

No mention of what she said about RBG?

[LucyLou]

@Ben_Natuf

@LucyLou

KB should not have taken Beyonce tickets. Disappointing and still time for course correction.

should she have taken the 12K in artwork from an undisclosed donor?

I don’t know anything about that. But I’m consistent and you can guess my answer.

I note that many other Justices reported 0 gifts so either they are lying or many of them understand being a judge and not holding out hands for gifts from wealthy people.

[Ben_Natuf]

I don’t see anyone holding their hand out. It’s sad that you don’t know what a gift is.

[Samm]

@H_Arendt

@Samm

It’s not only my opinion, it’s the definition of “business before the Court.” An amicus brief is the equivalent of a being an expert witness in a criminal trial.

Expert witnesses are paid for their time; they are advocates for one side. You can offer textbook definitions but they may not stand up to any scrutiny… as per Sotomayor’s dissent yesterday

So then, what’s your beef?

[LucyLou]

@Ben_Natuf

I don’t see anyone holding their hand out. It’s sad that you don’t know what a gift is.

Lol

34

[H_Arendt]

@Samm

So then, what’s your beef?

Your analogy between expert witnesses and filing amicus briefs, claiming these were both neutral activities.

@Samm

So then, what’s your beef?

[H_Arendt]

@Samm

The problem you perceive is not the rich and their accountants. They are following the law. We all have the same duty to ourselves and our families to minimize our tax liability within the law,

Or to seek to change laws so as not to enable tax dodges that are only available to the very wealthy. A good example is the carried interest loophole, which candidate Trump promised to eliminate in 2016. Disappointing that he did not follow through on a good promise.

[Samm]

@H_Arendt

@Samm

So then, what’s your beef?

Your analogy between expert witnesses and filing amicus briefs, claiming these were both neutral activities.

What about it? An amicus brief is simply testimony by a knowledgeable party on behalf of the plaintiff. That does not make then a party to the entity whose case is before the court.

[Samm]

@H_Arendt

@Samm

The problem you perceive is not the rich and their accountants. They are following the law. We all have the same duty to ourselves and our families to minimize our tax liability within the law,

Or to seek to change laws so as not to enable tax dodges that are only available to the very wealthy. A good example is the carried interest loophole, which candidate Trump promised to eliminate in 2016. Disappointing that he did not follow through on a good promise.

Campaign promises to do things that are not within the authority of the office the candidate us seeking are simply declarations of their position on the subject. A knowledgeable, intelligent person would not be taken in by such promises. Sorry you were disappointed.