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There is a quick way to reduce inflation and help the poor, but the Democrats won't do it.
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Sep 27, 2022 12:52:33   #
JFlorio Loc: Seminole Florida
 
Tiptop789 wrote:
Or tax investment income


Neither would slow inflation. Would just deepen the recession. Investment income is taxed. It’s called capital gains.

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Sep 27, 2022 12:56:07   #
Bevvy
 
Tiptop789 wrote:
You just can't resist being immature


you cant answer a question , you side track , you change subject AND you have the infantile come back that I am somehow IMMATURE .... C'mon Man

It is apparent that you are a LOW INFORMATION v**er ( assuming that you do v**e )

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Sep 27, 2022 12:57:50   #
fullspinzoo
 
Tiptop789 wrote:
You just can't resist being immature


Immature?? Pot/kettle.

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Sep 27, 2022 13:02:35   #
JFlorio Loc: Seminole Florida
 
It’s fair when billionaires use the laws written by congress. No country has ever taxed their way into prosperity. You’ll never collect enough tax from the top 1% to make a difference. Do you think the mega wealthy can’t leave, and if they do, who does that help?


Tiptop789 wrote:
I'm talking about the wealth of billionaires. In 2007, Bezos, already a billionaire didn't pay a penny on federal income tax (all perfectly legal). Musk, also a billionaire paid no income tax. Jeez, even Trump paid $750. The 25 richest Americans saw their income increase $408 billion between 2014 to 2018. They paid $13.8 billion in taxes and while a large amount, it's only 3.4%. Even good old Warren Buffet saw his wealth increase $25 billion over this time frame. He reported he paid $25 million in taxes, that's .1%. That's 10 cents for every $100 his wealth increase. Hardly fair considering the tax rate you & I pay (I'm assuming your not a billionaire, don't mean to anger you if you are). So is this fair, I guess it depends on your point of view. It's perfectly legal., they've done nothing illegal.
I'm talking about the wealth of billionaires. In ... (show quote)

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Sep 27, 2022 13:07:53   #
Tiptop789 Loc: State of Denial
 
JFlorio wrote:
Neither would slow inflation. Would just deepen the recession. Investment income is taxed. It’s called capital gains.


Really, well, if you avoid income, you avoid taxes. All legal I will add, but not equitable. Oh, we probably disagree? Let's see if we can find some things we agree I bet? Bezos, Soros, Buffet, Musk among others are billionaires. See we agree. Those in the $2-$5 million income group paid among the highest rate, 27.5%. Adove $5 million (.001%of population), the tastes were less and those above $69 million, they paid even only a 23% rate. The 25 richest paid a lower rate. Hardly seems fair? We are probably in disagreement here? Oh, a disclaimer, maybe I insulted you if your a billionaire, wander my intent.

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Sep 27, 2022 13:29:21   #
American Vet
 
Tiptop789 wrote:
You just can't resist being immature


That isn't much of a rebuttal. His comment was right on the mark.

Inflation rises when the Federal Reserve sets too low of an interest rate or when the growth of money supply increases too rapidly – as we are seeing now, says Stanford economist John Taylor.
https://news.stanford.edu/2022/09/06/what-causes-inflation/

There Is More Currency Available
Inflation can also occur when the Fed, or another central bank, adds fiat currency into circulation at a rate that exceeds that of the economy’s growth rate. That creates a situation in which there are more dollars bidding on fewer goods and services. The result is that goods and services cost more.
https://www.sofi.com/learn/content/main-causes-of-inflation/

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Sep 27, 2022 13:40:24   #
Bevvy
 
That creates a situation in which there are more dollars bidding on fewer goods and services. The result is that goods and services cost more.

So when biden reduced oil , he created a shortage causing gas prices to increase . Everything that is shipped takes gas or diesel ; so everything went up . To reduce the price , supply could be increased

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Sep 27, 2022 13:52:55   #
Bevvy
 
I feel I should apologize if I have offended anyone . We should be more in the business of educating . I will attempt to do better

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Sep 27, 2022 14:04:56   #
JFlorio Loc: Seminole Florida
 
I’d love to be insulted for being a billionaire. Though I’m not. Remember, investment money has been taxed when earned. Much of the reason rich people pay little to know tax is reinvestment and loss carryover. The only fair way to go is a flat tax IMO.

Tiptop789 wrote:
Really, well, if you avoid income, you avoid taxes. All legal I will add, but not equitable. Oh, we probably disagree? Let's see if we can find some things we agree I bet? Bezos, Soros, Buffet, Musk among others are billionaires. See we agree. Those in the $2-$5 million income group paid among the highest rate, 27.5%. Adove $5 million (.001%of population), the tastes were less and those above $69 million, they paid even only a 23% rate. The 25 richest paid a lower rate. Hardly seems fair? We are probably in disagreement here? Oh, a disclaimer, maybe I insulted you if your a billionaire, wander my intent.
Really, well, if you avoid income, you avoid taxes... (show quote)

Reply
Sep 27, 2022 16:08:29   #
EmilyD
 
Tiptop789 wrote:
Ii would agree, a flat rate tax or some other system. You didn't say, but I guess you're not in the "billionaire" club?

Is that you being "kind" again????

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Sep 28, 2022 13:10:06   #
MidnightRider
 
fullspinzoo wrote:
https://www.americanthinker.com/blog/2022/09/there_is_a_quick_way_to_reduce_inflation_and_help_the_poor_but_the_democrats_wont_do_it_.html


They have another slush fund and it was called exactly that. The Paris Accord.

Reply
 
 
Sep 28, 2022 20:40:37   #
SeaLass Loc: Western Soviet Socialist Republics
 
Tiptop789 wrote:
I'm talking about the wealth of billionaires. In 2007, Bezos, already a billionaire didn't pay a penny on federal income tax (all perfectly legal). Musk, also a billionaire paid no income tax. Jeez, even Trump paid $750. The 25 richest Americans saw their income increase $408 billion between 2014 to 2018. They paid $13.8 billion in taxes and while a large amount, it's only 3.4%. Even good old Warren Buffet saw his wealth increase $25 billion over this time frame. He reported he paid $25 million in taxes, that's .1%. That's 10 cents for every $100 his wealth increase. Hardly fair considering the tax rate you & I pay (I'm assuming your not a billionaire, don't mean to anger you if you are). So is this fair, I guess it depends on your point of view. It's perfectly legal., they've done nothing illegal.
I'm talking about the wealth of billionaires. In ... (show quote)


If your net worth is $100 and you have an income of $35,000/yr, you might have to pay INCOME tax. If your net worth is $100 billion and you have an income of $0/yr, you won't have to pay any INCOME tax, since you have NO INCOME!

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Sep 28, 2022 20:50:54   #
JFlorio Loc: Seminole Florida
 
SeaLass wrote:
If your net worth is $100 and you have an income of $35,000/yr, you might have to pay INCOME tax. If your net worth is $100 billion and you have an income of $0/yr, you won't have to pay any INCOME tax, since you have NO INCOME!


Depends on where you pull your money from. If the money is qualified it will be taxed as ordinary income. If the money is non-qualified and used you will most likely pay capital gains or tax on the gain.

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