JFlorio Loc: Seminole Florida

The Republicans have no real power. All it takes is a few RINO's to stop Republican initiatives, and we have plenty of them. Biden. Won’t be impeached and removed. So, what’s the point? If they take the Senate and keep the House and Biden wins, then impeach the dumbass and remove him.

CounterRevolutionary

TomHoff, that is Warren Buffet's old line when he cited his secretary's plight. Notice his secretary cannot buy Buffet out. Be very cautious of which snake you quote.

Buffet loves Karl Marx's Progressive Tax because it wipes out all his rising competitors. The Big Boys are entrenched at the top with the "U" shape of the progressive tax curve, no matter what tax is levied upon the rich; as long as they keep all the customers away from rising competitors that cannot rise.

Most of those corporations sink their profits back into their company. The spokes on the ladder of success are further and further apart as one rises - hence very few can rise.

If you really want equal opportunity in the playing field, put in a FLAT TAX.

CounterRevolutionary

You ask: "So what is the point?"
I ask the same question.

Have you ever heard "When America sneezes the rest of the world catches pneumonia"?

Is this another picture of "Nixon's Victory Without War"? This is John Forbes Nash's prediction in his "Non-Cooperative Games" in forecasting the collapse of communism. It's here. Now.

Unprecedented Crisis: "China Will Lose 600 Million People..." - Jim Rickards
economic news
https://www.youtube.com/watch?v=XJm0qEH95yo

Can the other BRICS nations pull China up with gold while they try to destroy Trump's Petro Dollar with this Green New Deal farce? Will China go to war to upgrade its weapons manufacturing to save its economy? Biden and the Clintons are war mongers.

JFlorio Loc: Seminole Florida

Justice101

President Joe Biden distorts income tax rates for the richest Americans
https://www.politifact.com/factchecks/2024/jan/26/joe-biden/president-joe-biden-distorts-income-tax-rates-for/

Biden has repeatedly claimed the wealthiest Americans have an income tax rate of 8%.

Under the current tax code, the top 1% of taxpayers pay an effective tax rate of 25% on the income the government counts.

What is the average federal income tax for the richest Americans?
When we asked the White House in 2022 about the 8% figure, it told PolitiFact that it comes from a White House report that considered what would happen if the United States were to tax unrealized gains on stocks.

Currently, if people see their stock shares rise in value over time, those gains are not taxed unless and until the shares are sold. If the shares are never sold, then they are never taxed, and under current law, they may be passed on to the next generation with little or no taxation.

CounterRevolutionary

There is something in this greed, spite and envy factor over our wealth that is being deliberately tabulated via Wall Street statistics, which is a fraction of the total value of our real economy.

The wealth is in our assets, LAND, not stocks and bonds.
This is an old article below, but it goes straight to the point:

LAND OWNERSHIP IN AMERICA
http://prfamerica.org/speeches/8th/LandownershipInAmerica.html (Too old, not found)
Speech from the Eighth Annual New York Conference on Private Property Rights (2004)
By Robert J. Smith

"...The total U.S. land area is 2,271,343,000 acres. That is a lot of land. It is a big nation. The federal government owns, manages, or controls about one third of the American land. At one time we knew fairly precisely exactly or close to exactly how much land the feds owned. For instance, in 1982 that figure was 768,532,000 acres, slightly over one third of all the U.S. But that was the year that ANLCA, the Alaskan Native Land Claims Act, was passed, finally giving tens of millions of acres of all the land in Alaska to the first Americans up there, the native Americans, and to the state of Alaska. Because Alaska is so huge, that instantly dropped the percentage of land owned by the federal government down to around 26 percent. And now one of the things we find very interesting in Washington, DC, to some degree, is that this data which you think would be pretty easy to get is almost impossible to get. It has also become a political football. BLM, the Bureau of Land Management, used to come out annually with their book on land statistics in the United States, which was pretty impeccable coverage of the amount of land ownership, who owned how much, how much the Department of Transportation owned, how much the Army Corps of Engineers owned. That stuff is no longer compiled in any one place. It is hard to get that data..." (But eventually Smith did. The Feds own about 90% of Nevada, 80% of Utah, 43% of California, 53% of Oregon, - not including monuments, nature preserves, state or national parks.)

This is a very long lecture by Smith that I cannot post on OPP. To summarize it: approximately 33% - 50% of US land is owned by our GOVERNMENT including the Bureau of Land Management making it the wealthiest "corporation" in the world. When foreign nations can move in and buy out our farmlands, we have a serious problem.

We are being seriously sidetracked by these politicians playing human envy like a fiddle.

Justice101

Yep. It is up to the states to make laws which forbid the sale of their land not deemed as Federal to China and other foreign adversaries.

ed4short Loc: New Hampshire

That speech that FJB gave was basically a campaign maneuver, poorly done by a crooked president.

America 1 Loc: South Miami

The newly released report covers Tax Year 2021 (for tax forms filed in 2022). The newest data reveals that the top 1 percent of earners, defined as those with incomes over $682,577, paid nearly 46 percent of all income taxes – marking the highest level in the available data.

pegw

Just look at these statistics: Tesla's tax rate is a whopping 1.5%. GM's is 4%. TMobile is 0.14 and GE is actually -6%.
So these outrageously successful companies are not paying their fair share. All of them could easily pay 25% which president Biden is suggesting.

America 1 Loc: South Miami

In February 2024, Gleckman provided additional calculations from the Tax Policy Center.
The center found that the top 0.1% of households paid an average effective federal tax rate of about 30.3% in 2020, including an average income tax rate of 24.3%.
https://www.cnn.com/2024/03/07/politics/fact-check-joe-biden-state-of-the-union/index.html?iid=cnn_buildContentRecirc_end_recirc

JFlorio Loc: Seminole Florida

You have no idea what those numbers represent.

Catfish 1

Vote Joe in again and you’ll be paying 25 percent

dbirch

While I believe everyone should pay their fair share that includes everyone should have skin in the game. The less money corporations have the less they can pay their workers and the more their goods cost us. There are better ways to tax people at a fair rate. What do think the rich should pay on their income?

dbirch

This was brilliant.