The rich must pay their fair share - including Joe Biden

Author: 949havoc

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949havoc
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Joe Biden my owe $500k in 'S' corp taxes. Joe complains all the time that the rich must pay their fair share, but it appears his 2020 released tax return is lacking compliance with his own mantra. Exempt? Or just contemptible?

What is the rich fair share, by the way? They're in the highest tax bracket, and they already contribute more in taxes, by volume, than any other group, so, what isn't fair about their current contributions? That it's still not enough to fund the government? Should the federal government operate on a smaller budget? Do we really need to duplicate every state agency at a federal level, since most activity in government is mandated at state level? By the Constitution?

Cough it up, joe, The rest of us do, cash on the barrel; your frequent phlegm notwithstanding.
Dr.Franklin
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I dont care about their taxes themselves but they should pay their employees more money, we fund the welfare of amazon workers who cant make a living wage
Greyparrot
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@Dr.Franklin
All welfare ends up being corporate welfare.

Just like all corporation taxes are paid by the consumers.
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@949havoc

Joe Biden my owe $500k in 'S' corp taxes. Joe complains all the time that the rich must pay their fair share, but it appears his 2020 released tax return is lacking compliance with his own mantra. Exempt? Or just contemptible?
Let's note the deceptions fauxlaw employs in trying to disseminate this fake news.

  • Claims he's linking to MSN but is actually linking to fake news machine The Daily Mail- the first news source to be banned by Wikipedia as an unreliable source of information.
  • Claims "A non-partisan government report indicates" but that's a pretty big fucking lie for the opening line of a newspaper article.  In fact, the claim is made by the hyper-Trumpist Republican Study Committee.  Jim Jordan used to chair this committee that's how far Trumpist this group has gone.
  • Here is a link to every CRS report ever published.  Contrary to fauxlaw's faux claim, this bipartisan group has never said a peep about Biden's taxes.
  • Since no responsible organization has picked up on the claims of  these right-wing extremists, I think we can  safely assume this claim is all or mostly bullshit.  
  • Let's note that this claim is only possible because Jim Jordan's committee has copies of all of Biden taxes sitting in front of them, provided to them by Biden himself.
  • Of course, if Republicans were ever able to suppress their hypocrisy long enough to demand the same honest disclosure of tax information from Trump, we can be sure that Trump would be quickly indicted.  Democrats have never had the opportunity to examine Trump's taxes the way Biden openly provides for the Republican hit squads.
    • In 2017, Joe Biden made $11 million ($10 million in book sales) and paid $3,740,000 million in taxes.
    • In 2017, Donald trump made $13 million and paid  $750 in taxes.  Not millions, not hundreds of thousand or tens of thousands.  Hundreds.
      • Trump made more (honest) money than Biden in 2017 but Biden paid 5000 times more in taxes than Trump.  Trump would say, "Hey, I was smart I used all the loopholes at my disposal" but Republican accusations here (if there's any truth at all to them, which seems unlikely)  amount to no more than one exploitation of  one legal loophole- a standard Trump violates with pride.
        • Now ask yourself honestly, which of these is the bigger crook?


sadolite
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@949havoc
When you say pay a fair share, does that include everyone or just a select few. And what is a fair share starting from the poorest to the richest. The poor have to pay something  don't they? They take up space and consume resource like everyone else.
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@sadolite
When you say pay a fair share, does that include everyone or just a select few.

And just how are Politicians supposed to get paid their fair share if they can't issue exemptions for money?

Those politicians are fucking oppressed.
949havoc
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@sadolite
what is a fair share
Not my job to determine. The highest tax rate is 37%, which affects everyone [married, filing jointly]  with a taxable income above $622k [not including deductions], which is $233k. That is an annual income greater than 89% of US population earns, so, yeah, that it at least a fair share, and the fair share is probably less. The lowest tax rate is 10%, which affects everyone with a taxable income up to $19,000 [not including deductions] which is $1,900. That is an annual income less than 90% of US population earns, so that's probably fair for them, too. Note, however, that the average low income earner pays a volume that is 0.008% less than the average high income earner.

But, the way Democrats think, the rich need to pay higher taxes because there is no way the rich pay for all the Democrats want to spend. It is they who want to upset the applecart, not to pay only for what is essential government spending, but for elaborate government spending.
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@oromagi
the first news source to be banned by Wikipedia as an unreliable source of information.
Lol.

Wikipedia itself is an unreliable source of information.

Are you trying to be ironic? If so, you've done an excellent job.

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@949havoc
The 1 percenters couldn't pay for the current budget if they were taxed at 100%
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@Mesmer
After George H.W. Bush died, we heard a lot about how he modeled the idea of “noblesse oblige.” It’s a French term that translates as “nobility obligates.” In other words, anyone born into the upper economic class should feel a sense of obligation toward his or her fellow humans, and particularly to those less fortunate to aid them in some way.

There are obvious positives to this concept. At least in theory, it motivates generosity and philanthropy. It hints at the idea that socioeconomic positions are not exclusively or necessarily a matter of hard work. It even acknowledges some measure of luck or privilege. The concept extends beyond wealth into the concentric circles of education. Princeton University’s unofficial motto, for instance, is “In the nation’s service.” Princeton graduates are urged to use their status, earning potential, and intellectual knowledge on behalf of others.

But there are problems with this ethos of “noblesse oblige,” and over time those problems eroded the concept. “Noblesse oblige” can lead to assumptions of superiority, the idea that the upper class has gifts to offer the rest of the world, and those poor, marginalized underprivileged people are grateful recipients of this beneficence. It’s a generosity that perpetuates a hierarchy. It keeps the privileged behind a wall of wealth, education and power. It also keeps the “noblesse” out of touch with the reality of life outside that wall, out of touch with economic hardship, out of touch with hard work that doesn’t lead to economic success, out of touch with human suffering and a broader array of human diversity.

The concept of “noblesse oblige” has fallen out of favor in recent years as social scientists have demonstrated the systems that perpetuate wealth gaps and education gaps and income inequality among different demographic groups. Americans have never been too comfortable with the idea of nobility anyway. We want to believe in equal opportunity. We want to believe in meritocracy. We want to believe that anyone who works hard will be rewarded, and anyone with wealth earned it and deserves to keep it.

And yet America continues to see a stubbornly fixed upper class, as two lengthy and compelling articles in last year’s TIME and Atlantic magazines demonstrated. In other words, we have ended up with the “noblesse” without the “oblige.” In fact, what we might have instead is something along the lines of “noblesse shame” or “noblesse cynicism.”

Multiple recent studies have demonstrated the ways in which affluent people have cut themselves off from other people and the ways they downplay the extent of their wealth. Other studies have demonstrated the ways that even the people with the highest incomes give less, as a percentage of their income, than those in the lowest economic bracket.

I wonder whether the truth to be extracted from this old idea is simply the word “oblige.” That all human beings are, in fact, obliged to one another. All interconnected. All obligated to give not out of a sense of superiority, but out of a sense of community and reciprocity.

TIME ran a story at the end of 2018 in which they identified five heroes of the year. The list included the men who rescued the boys who were stuck in an underground cave in Thailand. The man who disarmed a shooter at a Waffle House. The hospital chaplain who drove through fire to save patients. These weren’t stories about people who had been trained in nobility, but rather people who had some inherent sense of community, some ethos of mutual giving and receiving, something that provoked them to care for others as much as themselves.

I’m grateful that the era of noblesse oblige is over. I hope it makes way for a greater questioning of income disparities and wage gaps and less satisfaction with the economic status quo. But, also, I hope we can resurrect the idea of universal obligation to one another regardless or race, gender or socioeconomic status.

949havoc
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@Greyparrot
Right, about 5 or 6 months' worth is all, even at 100%.  At current spending, all other tax rates will have to be increased.
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@Greyparrot
sure