Tax records on wealthiest Americans released

Politics
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So this is a fascinating read:

Much to discuss!

  • Privacy! Private citizens’ tax records released without consent. Do we care?

  • Fairness! Check out the growth of Bezos/Buffett/Bloomberg wealth and the growth in taxes paid versus average American wealth growth and growth in taxes paid. Is that the way things should work?

  • Morality! Who are we to say that wealth growth should be taxed more?

  • Unrealized capital gains! If you institute a tax on non-cash wealth growth, it would likely mean forcing people to sell assets. Is that problematic?

So much good stuff in here…

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The super-rich pay their taxes in the form of protection money to leftist causes.

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Yeah… they can afford to pay more taxes.

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This is what concerns me the most about this issue.

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But, how are their marriages doing? lol

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Sounds like they need more tax breaks. :roll_eyes:

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It’s great that that got that big tax cut a few years ago.

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Really? Not the fact you’re being robbed to subsidize Elon?

That’s what concerns me the most. As the article noted, when we first created the income tax it only reached the barons and their salaries were public info.

Of the modern billionaires asked for comment in this article only one of them, Bloomberg, raised concerns about the privacy of his taxes.

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The wage earners are being forced to subsidize the top. Lets stop doing that.

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I read it and have two questions:

  1. How did they get it?

  2. Why should I care?

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I noticed they’re all White who has access to finest lawyers and accountants…right libs?

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Can’t help but notice that this article mentions George Soros, so I’m quite surprised that the leftists aren’t condemning it as “conspiracy theories.”

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How so? The top 1% (in income) of tax payers pay about 40% of all income taxes at an effective rate of about 25%, whereas the 25 - 50% group (middle to upper middle incomes … and a much larger segment of the population) pay about 20% of the taxes at an average of about 10 - 11% of their income.

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It’s almost as if the right cares more about Soros the the left does.

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Wrong. The right still despises Soros and we hate the causes that he supports, but we just don’t care that he’s rich.

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Not wrong. The right talks about Soros a whole lot more than the the left does… heck most of the time the left is mentioning Soros is in relation to the right’s obsession with him.

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Agreed. The article is very coy about how the records were received. I think an investigation resulting in applicable charges is warranted.

But also, this is gross. We need to close the loopholes so the rich pay a more commensurate share.

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Ok. Other than that Federal laws were broken if those releases did not have the consent of the taxpayer, the main problem seems to be that capital appreciation is not taxed as the assets appraised value grows but no taxable transaction has occurred.
Shall we start by doing away with the tax free nature of the increase in appreciated value of homes? That would raise a huge amount of tax dollars based on appreciation over the last decade.

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Soros, not his money.

The left doesn’t talk about him for fear of losing his money.

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Close a loophole, the rich will find another. What’s the point of being filthy rich if you can’t find someone and pay them well to get around Government rules? Some in Government have been gunning for the rich for at least 140 years. Don’t you think there is a reason that they are still out to get them?

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I said what I said.

You are free to have your own opinion. :man_shrugging: