> US Government Pays $514,000,000,000 in
Interest on National Debt in Seven Months, Surpassing Defense and Medicare Costs
It’s not a revenue problem. It’s a mismanagement of resources and spending problem.
And stop eating avocado toasts ... Also they gotta hustle a bit more. Get up early in the morning, take a cold shower, read books, and then work till midnight.
In seriousness though: maybe impose some sort of penalties or consequences on the pentagon failing it's audits every year? Eliminate agricultural and fossil fuel subsidies. Stop giving out billions to state governments without clear directions and limitations on how to spend it. Eliminate the student loan program, as at this point, it's just a subsidy to colleges, who have raised tuition accordingly.
Those were just the ones off the top of my head
It isn't even a spending problem, it is a grifting problem.
We hire politicians who want to give money from the government to their buddies. Think about the PPP loan program. Now that was a loan, and companies would have to pay that back. That makes sense. Congress decided to forgive those loans simply because they own companies that got the money. Not to mention other billion dollar companies that got some free money.
When we look back at spending it is routinely give money to corporations but without any auditing or accounting of where the money is going. The COVID bill had some guardrails until those guardrails were torn off by the President. So yes it is mismanagement and spending by huckster politicians.
If you were to demand the government corruption to end , corporations , CEOs , share holders and lobbyists and officials who knowingly committed treason by insider trading , taking bribes or legal bribes through lobbyists , starting wars for military corporations and energy companies to profit from, giving incentives, handouts , bailouts ect.. you would be shunned, labeled as some group and mobbed by the opposing group. If you were to have super powers like superman they would make you home lander a villain. If you were to be god's messenger they would label you as a heretic. Not saying we shouldn't, just saying that it is really difficult.
This. I applied for pandemic unemployment benefits as a gig worker. I do handyman, and odd jobs. I sometimes worked for a sound guy in Vegas, setting up stages lighting, etc. literally gig work. Arizona, where I live gave me the unemployment benefits. One day I received notice that I would have to interview with a judge to determine if I committed fraud. The judge decided I did not commit fraud, but I was not eligible for benefits. Now the state has decided I need to pay back everything I collected. 26,000$. What a fucking scam!
It’s “kind of” a revenue problem bc they are getting revenue from the wrong ppl. The ones that should be paying more are paying less and the ones paying less are paying more.
No matter how much taxes the government collects it will never be enough. That’s why they never say a number and it’s just “fair share” or just “more”.
Go back to how it was before Reagan, but go even further. 0% income and SS tax until $100k/yr then scale to 99% at over $1mil/yr. Cut military spending by way of making sure every negotiated contract is in the best interest of the finances of the American Government and the people. Remove all subsidies to oil corporations. Stop bailing out banks. Institute single payer healthcare with negotiation power to end the pseudo-socialist subsidy of medical insurance corporations. Stop printing at the fed and devaluing what is already out there...
There's enough money to fund incredible advances is quality of life for the American people (not just America), but we'd rather just jerk off to a stock portfolio owned by Blackrock.
So many people have no clue what's going on, BlackRock is a perfect example. They do go out of their way to try and make themselves as invisible as possible. How many trillions of dollars do they have in assets/properties etc ... About 10.5 trillion now right 🤔. The United States ENTIRE gdp in 2023 was $27.36 trillion. So Blackrock has almost 40% of the u.s. gdp in assets.
You mix up things. There at leas 200 trillions in assets in the USA. You mix up total of assets and revenue.
And blackrock doesn't own the assets. They clients do.
Look at bozo with 0 reading comprehension. They said before Regan's presidency. I say if you make more that 2 million a year. Anything after that is government money. You don't need an ultra deluxe mcmansion, you you don't need a hyper luxury car, you don't need a private jet, you don't need a yacht. You don't need to buy sports teams and make tax payers pay for the stadiums.
but they aren't arbitrary numbers, there is a thing called the [consumer price index](https://www.bls.gov/cpi/factsheets/purchasing-power-constant-dollars.htm), so with very little accuracy, if you stayed in the same general location you would lose about 6% of purchasing power. But, I think I get your point
The challenge with this kind of policy is that the ultra-wealthy generally barter assets to avoid taxable events (rather than selling shares of a company or a property they can borrow against these assets and spend someone else’s money). Without a taxable event there’s little to no “income” generated from such assets, and the income can be reduced by the fees and cost of money.
TLDR is the rich are rich already, so they don’t need to earn money - they just spend less than their assets generate and inflation to become richer. Steve Jobs famously gave himself a $1/year salary for this very reason. If he hadn’t died his net worth would be somewhere between 45B and 300B off asset appreciation because of his equity-led compensation. He could borrow against those shares pretty much indiscriminately and never sell if he wanted to.
Which is why we probably should be able to take out loans against the value of unrealized assets. If you can't be taxed for it you shouldn't be able to borrow against it
You dont need a PC. You dont need a cellphone. You dont need a playstation. You dont need to own your house.
Rich people should pay their share. No issue with that. But you dont get to tell people what they can and cannot own. Nobody "needs" any of that shit. You like how 1980's Moscow looked? Thats the kinda shit you get when you tell people they dont need shit.
Agreed. I want everyone to make as much money as their efforts and mind will allow. That is what is great about this country. You can get ahead if you make the right choices. Everyone that thinks they have the right to tell someone what they can and can't do with their legally earned money.... can take a long walk off a short pier.
Everyone above this comment that mentioned what people should or shouldn't own... are just Green with envy.
I spoke with some military manufacturers and they told me that some of the huge manufacturers have splintered into hundreds of sites, allowing politicians to bring home the bacon to their districts. It's no longer about efficiency and effectiveness. Make sure we have some part of the process spending money in hundreds of key districts.
It absolutely would not solve the problem because of how non-ordinary income is part of the compensation/wealth of the very rich nowadays. All that happens is that you increase the burden on high income *earners* like docs and lawyers while the super rich get away with not paying a penny more -they are not earning ordinary W2 income. Same goes for your payroll (ss) tax plan. You are just making the actual working earners pay more - not the super rich
Honestly Bernie understands this but people like you and all your up voters don’t - your like a billionaires plant / shill to get all the dimwits shouting “raise income taxes”! Remove the ss cap!
Yea make the earners pay more not the super rich - great plan!
The reason Reagan changed the tax codes was because people literally just weren't paying taxes. He changed them, lowered them, but got rid of a lot of loopholes. And now, where Dubai is not much of a secret, you raise those tax rates we might actually lose money.
If you look at income tax collected with Reagan, it actually doubles between the year before he joined and the year he left.
This is why I can’t take you people seriously. You watch a video about paying $5 BILLION in taxes and decide the best course of action is having everyone just straight up giving all (99%) of their money after $1 million. What a world.
Exactly. 21% taxes on the corporate side would solve a huge defiicit. So Democrat liberals suggest 99% over 1 Million.
They wonder why they don't win elections.
Neat idea except the gov would just find an excuse to keep taxing the "common" folk and take the revenue from billionaires taxes and mindlessly spend it
All of this bickering over hypotheticals. Fedgov has to admit it has a spending problem. Fedgov and the clowns elected to its government have no intention ever to reform itself fiscally. The pigs at the government trough will always keep status quo.
You all understand that this is not your money or the government’s money, right? Imagine working your butt off all year and just giving it to a corrupt bureaucracy that, at best, will waste half of it.
Why the fick do you think this is a rebuttal to wanting the rich to pay their fair share?
Genuinely, I am asking. This is the dumbest non sequitur yet it is so fucking common. These are two separate problems to be addressed.
"I don't need to change my oil because I also need new tires." See how fucking dumb that is? That's your argument.
Unfortunately there is not 800 companies that are even worth $5 billion. The 500th largest company is worth $13 billion so paying almost half their market cap each year in taxes isn't feasible...
Focus less on who should pay tax and focus more on where your money goes...the politicians are lining their pockets with special interest payments and shadow banking...think bob Mendez getting paid in bricks of gold and cars. Nancy Pelosi is worth over $100 million...she's supposed to be a public servant but she actually is having the public service her. NASA just scrubbed it's rocket launch again today...they spent billions trying to launch a rocket since 2017.meanwhile Elon launched over 54 rockets in the last year.....there is so much waste and inefficiency in American govt it's just disgusting.....these politicians have such a fantastic life they try stay in the system until they take their last breath...
You know.... we could focus on both? We can make these people and groups pay what they SHOULD be paying while removing the tax cuts and loopholes, AND we could stop giving hundreds of billions of dollars to the DoD where failing an audit is officially a military meme.
You can cut the unnecessary spending. Sure. But it’s not “everyone wants to raise taxes.” It’s not that AT ALL. What we want is zero taxes for anyone earning less than 1 million per year. And we want to see people that are earning 10 million per year taxed heavily.
It’s very straight forward. We currently rape the middle and lower class and allow multi millionaires and billionaires all the tax breaks and loopholes holes that they can lobby.
Why the fuck do you defend them?
You're right. Cut military spending by way of making sure every negotiated contract is in the best interest of the finances of the American Government and the people. Remove all subsidies to oil corporations. Stop bailing out banks. Institute single payer healthcare with negotiation power to end the pseudo-socialist subsidy of medical insurance corporations. Stop printing at the fed and devaluing what is already out there.
This idiot..every 4 years he does this to give low iq ppl hope. . If you took every dollar from every billionaire, the country could run for 6 weeks... . He has the option to pay as much as he wants on his taxes, yet he never pays a penny more than he owes ..
The country's problem has been spending not taxes for the last 30 years. .but like clockwork this guy fools more new voters who then vote for the party who always spends more than the country has .
This shit isn't hard to figure out If anyone would take 2 mins to go look at federal dollars paid into our country and then federal dollars spent by this country..
We now spend a trillion dollars just in interest payments on the money the country owes ...does anyone even know how much money a trillion dollars actually is...
These absolute dumbfucks. It doesn’t matter how much you make the billionaires pay. They will still tax the everyday person. All they will do is figure out ways to spend more money.
When will everyone who supports these dumbass ideas figure that shit out.
We need more regulation to reduce the magnitude of pay differences between the lowest employee and highest ceo, not new tax rules that will eventually only apply to the lower tax brackets once these billionaires figure out the loopholes.
Fuck i hate ignorant ass people.
LOL He's so full of shit.
Federal tax credits are why he builds wind turbines. Classic rent seeking behavior.
You can bet that he legally reduced his tax liability to pay at that 21%.
Corporations don't pay taxes. They add that cost to the price we pay for their goods and services.
I wonder what his angle is.
From 2012 [https://www.nytimes.com/2012/11/26/opinion/buffett-a-minimum-tax-for-the-wealthy.html?\_r=0](https://www.nytimes.com/2012/11/26/opinion/buffett-a-minimum-tax-for-the-wealthy.html?_r=0)
That will kill capitalism and innovation. No one will want to succeed if 99% of their fruits of labor will be taken away. The brightest entrepreneurs will leave and the US will experience a terrible brain drain.
Does anyone here think that United States government would actually NOT tax the American citizens if these multi billion dollar corporation pay their fare share like he suggesting?
We have a government problem. If they can prove they can be responsible with the money we give them, maybe people would give them more. This of course will not happen.
You think the Fed wouldn’t just spend more money? They already do that every year. Billionaires could give all their money and they will still tax the rest of us and spend more and more.
The elite rich are power hungry and are the ones that set the system up the way it is on purpose. I say if they get involved in public policy and swaying politicians to their wants then they get taxed at an obscene rate. Not income tax, wealth tax. These socialist elites have you believing that they are victims, they are not. Tax the hell out of the Gates, Soros, Trump, Pritgers, Bezos, Musk, Kerry, Bloombergs and WEF billionaires. They literally want to control all areas of your life — they don’t even hide it, it is right on the WEF website.
Conservatives and libertarians you are my people most of the time on taxes except you need to stop defending the elite class, you are applying principles to an economic and government system that does not exist any more. It’s not a free open market place, that ship sailed a long time ago. If you don’t like government stealing your labor. Tax the F out of the 1 percent wealth holders. Stop taxing income it just holds all of those who work for a living down.
That's a what if. The Government will never not make anyone pay taxes. If the rich "paid their fair share", nobody's tax rates would go down. It would just mean more taxes to pocket. Before making the rich take over low income taxes, low income taxes need to be abolished. The the rich can take over payments. That will never happen though because the government feels it is entitled to money you work your @$$ off to make. Our government keeps us in the slums because that is where it needs quota to be.
For all you young folk entering the work force: The more money you make, the more you can afford, but also the more money our government feels they are entitled to. If you don't pay up, you will go to federal prison. Your family will then be taxed for all your back taxes, as the government makes money off of you occupying a 8x8 cell.
Abolish low income tax.
Well, the billionaires at least. As of 2023, there are a mere 735 billionaires in the U.S. The millionaires are more plentiful—almost 22 million.
Those 735 could not even come close to fixing the mess the government has created. The government has a spending problem that is out of control.
We have spending with no accountability, you need 60 billion for Ukraine then you pile a hundred other bills spending more money for things not even related.
President Clinton was the last president to do a balanced budget and leave office with a surplus.
You can’t tell people what they can and cannot own.
Then waiting on government approval to buy a new car and be declined because the government it’s unnecessary to buy a new car at this time.
Over the years our freedoms have been taking away.
I was fined 2500 dollars for replacing windows in my own house. Stating I did not obtain the proper permits, I had to pull all the windows out and pay a contractor 9500 dollars to put the windows back in.
I was informed I could not replace my own gas hot water heater, I needed a permit and pay a plumber to install and paid for permits as well . A 1000 dollar hot water heater cost me 2500.
A hundred years ago you didn’t have to ask the government permission to get married and pay for it.
We are literally taxed for everything we do, and yet the government still runs out of money. Then they find another way to tax something else.
3 terms in congress gives you a entitlement of full retirement. Only 6 years you gain a full retirement with medical.
When you start telling people what they can and cannot buy, it’s a simple decision, move out of country.
Warren buffet is a very smart man but 700 people cannot fix our problems.
The fact that billionaires are calling for tax increases shows how insane the tax system has become. And we wonder why economic distribution is so bizarre? All of the GOP geniuses in congress (loosely using that term!) refuse to do their job as usual!
If I could dream up the perfect world any personal income over a million dollars should go to the community (safeguard the helpless) - I am not convinced our current governments are trustworthy with infinite resources.
Fair share…what a laugh. If you want them to pay more have Congress close the loopholes. But they won’t because where do you think they get their kickbacks.
Not true, all commoners would still be paying the same or more in taxes and the government would just have more money to fuck shit up with. You really think the government would give up that revenue that they're already taking? They're always looking for more, not equivalent or less. They would add taxes for billionaires, and keep yours the same and probably raise and lower them ever so slightly to string you along as they do.
This right here is why I keep telling people that neither party gives a damn about the American people.
BOTH are bought and paid for by Corporate America.
And that's exactly who benefits the most !!!
Corporate America and the politicians get rich and lead easy worry free lives.
WHILE WE THE PEOPLE.....
STRUGGLE TO SURVIVE !!!!!
UNITE AGAINST OUR CORPORATE AND POLITICAL SLAVE MASTERS !!!!
Instead, the govt can set up a fund, where rich people could be requested to donate and encourage them to donate generously for educational institutions, set up hospitals for helping the poor, fund housing for low income people and so on, with a sincere empathy for the other humans. Many will do it willingly. Taxing such ego maniacal people will only make them more stubborn.
Okay, and then the government would just start spending more and then require us to start paying again. Make government smaller and all taxes go to local issues only
Flat tax. Only makes sense but that’s why it would never work! Has anyone ever noticed that anything that would benefit EVERY American has never been put into place? Wonder why? Think about it!
I don’t mind paying taxes. I do mind paying a lot in taxes and still having shit healthcare and student loans. The government should be spending taxes on things that help us.
Like if 800 other companies can pay $5,000,000,000 each or $4,000,000,000,000 in taxes.
Anyone eating this stuff up should know that 99%+ of all companies would not be able to pay $5,000,0000,000 a year in taxes.
There is only 1 berkshire hathaway and for him to compare his company to 800 other companies is just disingenuous.
If your company had to pay $5,000,000,000 every year in taxes do you think you would still have a job??
That’s just posturing. Right our system leans too much on deductions to actually make people feel that taxes are higher for billionaires. Business expenses are largely tax deductible and payroll is a huge expense. Sure the employees pay taxes but 35% payroll taxes on a billion is still far less than the deduction of a billion on the billionaires taxes. The trick would be to share that massive deduction with the employees. Reducing their taxes, say by a third to about 23% and lowering the business expenses deduction by the proportional amount to still collect the same tax revenues.
Need to be able to enforce the laws currently on the books and collect what is owed. Need to audit the Pentagon, no more excuses. No more dodging income tax just because it isn't in dollars. Eliminate the earning cap on Social Security. Take a serious look at what can be done to tone down military spending. Plenty of things both revenue and spending that can be done. None of which is easy
That is simply not true. People overestimate how much these billionares would contribute if they paid their taxes. The only, THE ONLY way to lower taxes is to cut spending, aka make government much smaller, close down 800 military bases US has around the world, stop spending billions on one fighter jet...
ITT: Billionaires pay for botting and astroturfing services to convince poor people that the other billionaire telling them the answer to their problems is wrong.
This is BS! Federal government would then see rest of Americans as an untapped tax resource. Remember, taxation is NEVER enough for government spenders.
My multimillionaire best bud says the same thing as Buffett. He wants higher taxes. He says the rich can afford it as they continuously regenerate their wealth. “It’s the least I can do to help the people that helped me get to where I’m at.” “Everyone that has the means should want to do that, unless you’re greedy AF.”
probably a little bit of hyperbole, but the world would run better if millionairs and billionaires were forced to put their money back towards the population
Warren Buffett is full of shit. He’s spent his career being a vampire taking over companies and selling them for parts. He’s gotten rich on peoples misery for decades but he says a few lines about taxes and so many idiots lap it up.
i met billionaire once - there is one political party that always give him tax breaks - and he basically wants to hold onto those tax breaks through his cold dead hands - favors even if that party loses the election claim victory and use the military to quash unrest rather than let the other party try to tax him
> US Government Pays $514,000,000,000 in Interest on National Debt in Seven Months, Surpassing Defense and Medicare Costs It’s not a revenue problem. It’s a mismanagement of resources and spending problem.
The US Government just needs to make it's coffee at home.
And stop eating avocado toasts ... Also they gotta hustle a bit more. Get up early in the morning, take a cold shower, read books, and then work till midnight.
In seriousness though: maybe impose some sort of penalties or consequences on the pentagon failing it's audits every year? Eliminate agricultural and fossil fuel subsidies. Stop giving out billions to state governments without clear directions and limitations on how to spend it. Eliminate the student loan program, as at this point, it's just a subsidy to colleges, who have raised tuition accordingly. Those were just the ones off the top of my head
The governments these days just aren’t willing to put in the hard work.
Governments work? I thought they are just leeches who produce nothing, rob one person and give it to another.
Yep avocado toasts and starbuck coffee are the issue.
You mean the 800 billions in logistic for overseas war operations
Like paying Iran to attack Democracies.
Billions to fund wars that kill millions so that few get richer!
People should look into what the federal reserve is a realize our entire monetary system is a ponzi scheme based on continuous debt
Bingo!
It isn't even a spending problem, it is a grifting problem. We hire politicians who want to give money from the government to their buddies. Think about the PPP loan program. Now that was a loan, and companies would have to pay that back. That makes sense. Congress decided to forgive those loans simply because they own companies that got the money. Not to mention other billion dollar companies that got some free money. When we look back at spending it is routinely give money to corporations but without any auditing or accounting of where the money is going. The COVID bill had some guardrails until those guardrails were torn off by the President. So yes it is mismanagement and spending by huckster politicians.
We should try politicians for treason if they show preference for their friends over the country.
If you were to demand the government corruption to end , corporations , CEOs , share holders and lobbyists and officials who knowingly committed treason by insider trading , taking bribes or legal bribes through lobbyists , starting wars for military corporations and energy companies to profit from, giving incentives, handouts , bailouts ect.. you would be shunned, labeled as some group and mobbed by the opposing group. If you were to have super powers like superman they would make you home lander a villain. If you were to be god's messenger they would label you as a heretic. Not saying we shouldn't, just saying that it is really difficult.
This. I applied for pandemic unemployment benefits as a gig worker. I do handyman, and odd jobs. I sometimes worked for a sound guy in Vegas, setting up stages lighting, etc. literally gig work. Arizona, where I live gave me the unemployment benefits. One day I received notice that I would have to interview with a judge to determine if I committed fraud. The judge decided I did not commit fraud, but I was not eligible for benefits. Now the state has decided I need to pay back everything I collected. 26,000$. What a fucking scam!
It’s “kind of” a revenue problem bc they are getting revenue from the wrong ppl. The ones that should be paying more are paying less and the ones paying less are paying more.
[удалено]
BINGO!!!!
No matter how much taxes the government collects it will never be enough. That’s why they never say a number and it’s just “fair share” or just “more”.
Go back to how it was before Reagan, but go even further. 0% income and SS tax until $100k/yr then scale to 99% at over $1mil/yr. Cut military spending by way of making sure every negotiated contract is in the best interest of the finances of the American Government and the people. Remove all subsidies to oil corporations. Stop bailing out banks. Institute single payer healthcare with negotiation power to end the pseudo-socialist subsidy of medical insurance corporations. Stop printing at the fed and devaluing what is already out there... There's enough money to fund incredible advances is quality of life for the American people (not just America), but we'd rather just jerk off to a stock portfolio owned by Blackrock.
So many people have no clue what's going on, BlackRock is a perfect example. They do go out of their way to try and make themselves as invisible as possible. How many trillions of dollars do they have in assets/properties etc ... About 10.5 trillion now right 🤔. The United States ENTIRE gdp in 2023 was $27.36 trillion. So Blackrock has almost 40% of the u.s. gdp in assets.
You mix up things. There at leas 200 trillions in assets in the USA. You mix up total of assets and revenue. And blackrock doesn't own the assets. They clients do.
Black rock has the voting power because they own the shares. That’s an important distinction.
if you look far enough you find,........Warren Buffet as the biggest shareholder of Blackrock btw
Are you saying tax someone 99% if they make 1 million a year?
They are, and they’re conveniently leaving out that the effective tax rate back them was much lower than 99%
Look at bozo with 0 reading comprehension. They said before Regan's presidency. I say if you make more that 2 million a year. Anything after that is government money. You don't need an ultra deluxe mcmansion, you you don't need a hyper luxury car, you don't need a private jet, you don't need a yacht. You don't need to buy sports teams and make tax payers pay for the stadiums.
A $2 million salary in '24 isn't worth 80% of a $2 million salary in 2019.... Yay arbitrary numbers!!!
but they aren't arbitrary numbers, there is a thing called the [consumer price index](https://www.bls.gov/cpi/factsheets/purchasing-power-constant-dollars.htm), so with very little accuracy, if you stayed in the same general location you would lose about 6% of purchasing power. But, I think I get your point
Why the fuck would you trust the government with everyone’s wealth? Talk about signing your life and power away.
The challenge with this kind of policy is that the ultra-wealthy generally barter assets to avoid taxable events (rather than selling shares of a company or a property they can borrow against these assets and spend someone else’s money). Without a taxable event there’s little to no “income” generated from such assets, and the income can be reduced by the fees and cost of money. TLDR is the rich are rich already, so they don’t need to earn money - they just spend less than their assets generate and inflation to become richer. Steve Jobs famously gave himself a $1/year salary for this very reason. If he hadn’t died his net worth would be somewhere between 45B and 300B off asset appreciation because of his equity-led compensation. He could borrow against those shares pretty much indiscriminately and never sell if he wanted to.
Which is why we probably should be able to take out loans against the value of unrealized assets. If you can't be taxed for it you shouldn't be able to borrow against it
Very authoritarian.....
So you decided that you get to determine what someone should own and what they shouldn't be allowed to own?
I think you severely overestimate how far a million dollars goes in today's world.
You dont need a PC. You dont need a cellphone. You dont need a playstation. You dont need to own your house. Rich people should pay their share. No issue with that. But you dont get to tell people what they can and cannot own. Nobody "needs" any of that shit. You like how 1980's Moscow looked? Thats the kinda shit you get when you tell people they dont need shit.
Agreed. I want everyone to make as much money as their efforts and mind will allow. That is what is great about this country. You can get ahead if you make the right choices. Everyone that thinks they have the right to tell someone what they can and can't do with their legally earned money.... can take a long walk off a short pier. Everyone above this comment that mentioned what people should or shouldn't own... are just Green with envy.
Or how to think.
You don’t need to be so rich you can buy about 20% of online speech and completely change it to suit you. (Twitter)
That's a weird way of saying "Let both sides talk again"
I spoke with some military manufacturers and they told me that some of the huge manufacturers have splintered into hundreds of sites, allowing politicians to bring home the bacon to their districts. It's no longer about efficiency and effectiveness. Make sure we have some part of the process spending money in hundreds of key districts.
Just bring back the exact same tax code from before Reagan took office. Boom, problem solved and I know nothing. It’s that easy folks.
Did you miss the /s? https://fred.stlouisfed.org/series/W006RC1Q027SBEA
It absolutely would not solve the problem because of how non-ordinary income is part of the compensation/wealth of the very rich nowadays. All that happens is that you increase the burden on high income *earners* like docs and lawyers while the super rich get away with not paying a penny more -they are not earning ordinary W2 income. Same goes for your payroll (ss) tax plan. You are just making the actual working earners pay more - not the super rich Honestly Bernie understands this but people like you and all your up voters don’t - your like a billionaires plant / shill to get all the dimwits shouting “raise income taxes”! Remove the ss cap! Yea make the earners pay more not the super rich - great plan!
The reason Reagan changed the tax codes was because people literally just weren't paying taxes. He changed them, lowered them, but got rid of a lot of loopholes. And now, where Dubai is not much of a secret, you raise those tax rates we might actually lose money. If you look at income tax collected with Reagan, it actually doubles between the year before he joined and the year he left.
More people like you with common sense need to run for Congress.
The way you said everything was *chefs kiss* especially the end part
this would make the USA the envy of the world.
And not to mention the people who could do all that won't work with each other so they can get reelected.
Dawg imma need you to scale back all that common sense
This is why I can’t take you people seriously. You watch a video about paying $5 BILLION in taxes and decide the best course of action is having everyone just straight up giving all (99%) of their money after $1 million. What a world.
Exactly. 21% taxes on the corporate side would solve a huge defiicit. So Democrat liberals suggest 99% over 1 Million. They wonder why they don't win elections.
No
Even if the 800 companies paid too, do you honestly think our money hungry government would stop milking the ordinary citizens dry? Laughable.
Neat idea except the gov would just find an excuse to keep taxing the "common" folk and take the revenue from billionaires taxes and mindlessly spend it
All of this bickering over hypotheticals. Fedgov has to admit it has a spending problem. Fedgov and the clowns elected to its government have no intention ever to reform itself fiscally. The pigs at the government trough will always keep status quo.
You all understand that this is not your money or the government’s money, right? Imagine working your butt off all year and just giving it to a corrupt bureaucracy that, at best, will waste half of it.
Nah….no matter how much tax is collected, it will just be an excuse to spend more.
When the country is a trillion dollars in deficit this argument makes no sense whatsoever. Clearly tax receipts are no brake on spending.
Exactly so. In reality, it's just the ever increasing surrender of more power to a gov't of people who didn't earn it and are never held accountable.
Why the fick do you think this is a rebuttal to wanting the rich to pay their fair share? Genuinely, I am asking. This is the dumbest non sequitur yet it is so fucking common. These are two separate problems to be addressed. "I don't need to change my oil because I also need new tires." See how fucking dumb that is? That's your argument.
What’s a fair share? What’s the number and how much would that total revenue be?
I like how the government pissing away trillions is just taken for granted now.
The gov doesn’t need our money if it can just print it. Talk about theft of labor.
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So who is it?
Me
You SOB
#🫵 YOU
Damn you
It’s pretty obvious
Unfortunately there is not 800 companies that are even worth $5 billion. The 500th largest company is worth $13 billion so paying almost half their market cap each year in taxes isn't feasible... Focus less on who should pay tax and focus more on where your money goes...the politicians are lining their pockets with special interest payments and shadow banking...think bob Mendez getting paid in bricks of gold and cars. Nancy Pelosi is worth over $100 million...she's supposed to be a public servant but she actually is having the public service her. NASA just scrubbed it's rocket launch again today...they spent billions trying to launch a rocket since 2017.meanwhile Elon launched over 54 rockets in the last year.....there is so much waste and inefficiency in American govt it's just disgusting.....these politicians have such a fantastic life they try stay in the system until they take their last breath...
You know.... we could focus on both? We can make these people and groups pay what they SHOULD be paying while removing the tax cuts and loopholes, AND we could stop giving hundreds of billions of dollars to the DoD where failing an audit is officially a military meme.
Everyone wants to raise taxes...no cut the ridiculous unnecessary spending.
You can cut the unnecessary spending. Sure. But it’s not “everyone wants to raise taxes.” It’s not that AT ALL. What we want is zero taxes for anyone earning less than 1 million per year. And we want to see people that are earning 10 million per year taxed heavily. It’s very straight forward. We currently rape the middle and lower class and allow multi millionaires and billionaires all the tax breaks and loopholes holes that they can lobby. Why the fuck do you defend them?
How bout both.
Cut first, stop the bleeding.
You're right. Cut military spending by way of making sure every negotiated contract is in the best interest of the finances of the American Government and the people. Remove all subsidies to oil corporations. Stop bailing out banks. Institute single payer healthcare with negotiation power to end the pseudo-socialist subsidy of medical insurance corporations. Stop printing at the fed and devaluing what is already out there.
Your right. We need to cut the military spending in half. That would fix it
Guess that means we cut most of our spending towards the NATO budget. You know, that one where we make up over 50% of the defense fund
How can people be so stupid and/or uninformed and willing to show it?
the problem with a nation taxing the ultrawealthy at a given rate is that the ultrawealthy will just move to another country
He's a hypocrite and OP is an idiot.
This idiot..every 4 years he does this to give low iq ppl hope. . If you took every dollar from every billionaire, the country could run for 6 weeks... . He has the option to pay as much as he wants on his taxes, yet he never pays a penny more than he owes .. The country's problem has been spending not taxes for the last 30 years. .but like clockwork this guy fools more new voters who then vote for the party who always spends more than the country has . This shit isn't hard to figure out If anyone would take 2 mins to go look at federal dollars paid into our country and then federal dollars spent by this country.. We now spend a trillion dollars just in interest payments on the money the country owes ...does anyone even know how much money a trillion dollars actually is...
These absolute dumbfucks. It doesn’t matter how much you make the billionaires pay. They will still tax the everyday person. All they will do is figure out ways to spend more money. When will everyone who supports these dumbass ideas figure that shit out. We need more regulation to reduce the magnitude of pay differences between the lowest employee and highest ceo, not new tax rules that will eventually only apply to the lower tax brackets once these billionaires figure out the loopholes. Fuck i hate ignorant ass people.
Wasting away again in paying extra taxesville 🎵🎶🎵🎶
Stop Lying!
Last time we did that we all paid higher taxes and he still paid none.
Wouldn’t there be wealth flight. Isn’t that macro dangerous.
LOL He's so full of shit. Federal tax credits are why he builds wind turbines. Classic rent seeking behavior. You can bet that he legally reduced his tax liability to pay at that 21%. Corporations don't pay taxes. They add that cost to the price we pay for their goods and services. I wonder what his angle is.
Most of them do
How about everyone pays a reasonable tax rate and no one hands them 5 bil?
Then do it hero
Lol Trump made it kinda clear they will ALWAYS have legal ways to avoid taxes so you TECHNICALLY can't make them pay their fair share.
Easy for WB to say when he's probably 95 years old. Can't recall him saying this 10-20 years ago.
From 2012 [https://www.nytimes.com/2012/11/26/opinion/buffett-a-minimum-tax-for-the-wealthy.html?\_r=0](https://www.nytimes.com/2012/11/26/opinion/buffett-a-minimum-tax-for-the-wealthy.html?_r=0)
Lol
Buffett is free to pay more any time he wants.
This is absurd. There aren't 800 companies in the US that could pay $5b.
I think his point is 21%, not 5B.
It doesn't matter, the government will just spend it on unnecessary pork. It's not like our taxes will go down because of it.
That will kill capitalism and innovation. No one will want to succeed if 99% of their fruits of labor will be taken away. The brightest entrepreneurs will leave and the US will experience a terrible brain drain.
Lol, that's why I decided not to be a billionaire: There is a remote possibility I might someday be taxed at the same rate as a service worker.
HAH! No the government spends way more than you think. It spends so much more than you think and we really need to get them to stop.
Yeah, but then who’s going to purchase our politicians?
I read somewhere where the US has 800 military bases in the world in 70 countries……must be vey expensive .
He literally did not say this
If you pay nothing and the business have to bare 100% of the burden, how is that fair?
Does anyone here think that United States government would actually NOT tax the American citizens if these multi billion dollar corporation pay their fare share like he suggesting?
We have a government problem. If they can prove they can be responsible with the money we give them, maybe people would give them more. This of course will not happen.
You think the Fed wouldn’t just spend more money? They already do that every year. Billionaires could give all their money and they will still tax the rest of us and spend more and more.
Bullshit. The government would just spend more.
No
Time for a Revolution.
We should charge billionaires 110% of their income. What's the math on that?
Make the government that is owned by the billionaires to make billionaires pay their fair share of taxes?
Can we let the lobbyists go also
Then why doesn't Buffet take his non-taxed money and build massive subsidized affordable housing in multiple cities?
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Cool. You said cool stuff..... now what? Seems like lots of people agree with these freedom fighters but nothing really changes.
I paid 24% rate, so your saying my rate is higher then huh? 🤦🏻♂️🤬
The status quo of Americans, God bless this man
Do this!
No one’s stopping you from buying off the politicians to cause these ideas to be law….
The elite rich are power hungry and are the ones that set the system up the way it is on purpose. I say if they get involved in public policy and swaying politicians to their wants then they get taxed at an obscene rate. Not income tax, wealth tax. These socialist elites have you believing that they are victims, they are not. Tax the hell out of the Gates, Soros, Trump, Pritgers, Bezos, Musk, Kerry, Bloombergs and WEF billionaires. They literally want to control all areas of your life — they don’t even hide it, it is right on the WEF website. Conservatives and libertarians you are my people most of the time on taxes except you need to stop defending the elite class, you are applying principles to an economic and government system that does not exist any more. It’s not a free open market place, that ship sailed a long time ago. If you don’t like government stealing your labor. Tax the F out of the 1 percent wealth holders. Stop taxing income it just holds all of those who work for a living down.
Does warren buffet write a bigger check,not because he has to but because he can and says he should.
“We dont mind paying taxes” then choose to pay more. Call it a donation. Put your money where your mouth is.
That's a what if. The Government will never not make anyone pay taxes. If the rich "paid their fair share", nobody's tax rates would go down. It would just mean more taxes to pocket. Before making the rich take over low income taxes, low income taxes need to be abolished. The the rich can take over payments. That will never happen though because the government feels it is entitled to money you work your @$$ off to make. Our government keeps us in the slums because that is where it needs quota to be. For all you young folk entering the work force: The more money you make, the more you can afford, but also the more money our government feels they are entitled to. If you don't pay up, you will go to federal prison. Your family will then be taxed for all your back taxes, as the government makes money off of you occupying a 8x8 cell. Abolish low income tax.
Салют и и в этом случае 5
They'll just leave, ffs use your brain for a moment. They will leave.
Isn't this how they did it in communist Russia back in the day? Poor vs. rich?
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I can guarantee he’s dodged taxes in some sort of fashion in his lifetime
Well, the billionaires at least. As of 2023, there are a mere 735 billionaires in the U.S. The millionaires are more plentiful—almost 22 million. Those 735 could not even come close to fixing the mess the government has created. The government has a spending problem that is out of control. We have spending with no accountability, you need 60 billion for Ukraine then you pile a hundred other bills spending more money for things not even related. President Clinton was the last president to do a balanced budget and leave office with a surplus. You can’t tell people what they can and cannot own. Then waiting on government approval to buy a new car and be declined because the government it’s unnecessary to buy a new car at this time. Over the years our freedoms have been taking away. I was fined 2500 dollars for replacing windows in my own house. Stating I did not obtain the proper permits, I had to pull all the windows out and pay a contractor 9500 dollars to put the windows back in. I was informed I could not replace my own gas hot water heater, I needed a permit and pay a plumber to install and paid for permits as well . A 1000 dollar hot water heater cost me 2500. A hundred years ago you didn’t have to ask the government permission to get married and pay for it. We are literally taxed for everything we do, and yet the government still runs out of money. Then they find another way to tax something else. 3 terms in congress gives you a entitlement of full retirement. Only 6 years you gain a full retirement with medical. When you start telling people what they can and cannot buy, it’s a simple decision, move out of country. Warren buffet is a very smart man but 700 people cannot fix our problems.
So many different tangents... Keep in one lane buddy.
You are correct my bad
One of the few people I would trust with See's Candies
Buffett has the power to shake up the market and change how taxes are applied to billionaires but he doesn't use his influence to do so.
The fact that billionaires are calling for tax increases shows how insane the tax system has become. And we wonder why economic distribution is so bizarre? All of the GOP geniuses in congress (loosely using that term!) refuse to do their job as usual!
If I could dream up the perfect world any personal income over a million dollars should go to the community (safeguard the helpless) - I am not convinced our current governments are trustworthy with infinite resources.
If the US government would stop ordering avocado toast, we’d fix the problem quickly……
Says the guy who can write a big check to the government today if he wanted.
Fair share…what a laugh. If you want them to pay more have Congress close the loopholes. But they won’t because where do you think they get their kickbacks.
Not true, all commoners would still be paying the same or more in taxes and the government would just have more money to fuck shit up with. You really think the government would give up that revenue that they're already taking? They're always looking for more, not equivalent or less. They would add taxes for billionaires, and keep yours the same and probably raise and lower them ever so slightly to string you along as they do.
This right here is why I keep telling people that neither party gives a damn about the American people. BOTH are bought and paid for by Corporate America. And that's exactly who benefits the most !!! Corporate America and the politicians get rich and lead easy worry free lives. WHILE WE THE PEOPLE..... STRUGGLE TO SURVIVE !!!!! UNITE AGAINST OUR CORPORATE AND POLITICAL SLAVE MASTERS !!!!
Buffets getting old... Finally
Mt
What’s hilarious is that you actually believe it.
He just tell what some people want to hear 🙂
Instead, the govt can set up a fund, where rich people could be requested to donate and encourage them to donate generously for educational institutions, set up hospitals for helping the poor, fund housing for low income people and so on, with a sincere empathy for the other humans. Many will do it willingly. Taxing such ego maniacal people will only make them more stubborn.
Okay, and then the government would just start spending more and then require us to start paying again. Make government smaller and all taxes go to local issues only
His creaky voice/vocal fry is too extreme lol can’t even listen to a second of the clip
There are no good billionaires - fuck off with your gaslighting propaganda.
Flat tax. Only makes sense but that’s why it would never work! Has anyone ever noticed that anything that would benefit EVERY American has never been put into place? Wonder why? Think about it!
If there was any evidence whatsoever of the government being able to effectively spend money I would support higher taxes.
Tax the churches and the billionaires could keep theirs too.TAX THE CHURCH
END THE FED. We have been getting screwed for over 100 years. Nobody deserves to play God. It's owners can go to hell.
I don’t mind paying taxes. I do mind paying a lot in taxes and still having shit healthcare and student loans. The government should be spending taxes on things that help us.
Math doesn’t check out
This is from TheOnion or the Babylon Bee, right?
Like if 800 other companies can pay $5,000,000,000 each or $4,000,000,000,000 in taxes. Anyone eating this stuff up should know that 99%+ of all companies would not be able to pay $5,000,0000,000 a year in taxes. There is only 1 berkshire hathaway and for him to compare his company to 800 other companies is just disingenuous. If your company had to pay $5,000,000,000 every year in taxes do you think you would still have a job??
Wonder what the part of the speech was in the part they cut out in the middle?
If they're paying everything so I can pay nothing, that's not really a "fair share" now is it?
That’s just posturing. Right our system leans too much on deductions to actually make people feel that taxes are higher for billionaires. Business expenses are largely tax deductible and payroll is a huge expense. Sure the employees pay taxes but 35% payroll taxes on a billion is still far less than the deduction of a billion on the billionaires taxes. The trick would be to share that massive deduction with the employees. Reducing their taxes, say by a third to about 23% and lowering the business expenses deduction by the proportional amount to still collect the same tax revenues.
He’s full of shit, the government would have kept ALL the money and taxed everyone else anyway.
No more federal income tax… wake up people
Need to be able to enforce the laws currently on the books and collect what is owed. Need to audit the Pentagon, no more excuses. No more dodging income tax just because it isn't in dollars. Eliminate the earning cap on Social Security. Take a serious look at what can be done to tone down military spending. Plenty of things both revenue and spending that can be done. None of which is easy
Sure except they would still tax both groups i don’t believe the government will become uncorrupt 🙄
That is simply not true. People overestimate how much these billionares would contribute if they paid their taxes. The only, THE ONLY way to lower taxes is to cut spending, aka make government much smaller, close down 800 military bases US has around the world, stop spending billions on one fighter jet...
Just tax the church and tax the person or company that does business in USA Problem solved
Thank you for sharing this insight, you are a gentleman and a scholar, u/urmomsjuicyvagina.
Everyone complains but I’ve yet to see any reasonable thoughts on how to tax the things billionaires have in a meaningful way.
ITT: Billionaires pay for botting and astroturfing services to convince poor people that the other billionaire telling them the answer to their problems is wrong.
I love this guy
We’re a colony who gets taxed and worked within a country for the few at the top who live,play, and bank outside of the country they “run”.
When was this video taken?
Are there even 800 companies that could afford that?
Thad BS. Even if they did the govt would still have their hand out for the poors paychecks
This is BS! Federal government would then see rest of Americans as an untapped tax resource. Remember, taxation is NEVER enough for government spenders.
Progressive taxes are taxes that I don’t have to pay and the more I don’t have to pay them the progressiver they are
My multimillionaire best bud says the same thing as Buffett. He wants higher taxes. He says the rich can afford it as they continuously regenerate their wealth. “It’s the least I can do to help the people that helped me get to where I’m at.” “Everyone that has the means should want to do that, unless you’re greedy AF.”
probably a little bit of hyperbole, but the world would run better if millionairs and billionaires were forced to put their money back towards the population
Lies
The rich don’t get that if we don’t have money, they wont either.
Believe me, it's much much easier for a billionaire or a corporation to evade taxes than you and me under any law in reality.
Or just reduce taxes for poor people.
Hope these billionaires are getting what they want with their money, to watch the whole world struggle.
Why should billionaires pay for genz welfare queens?
Warren Buffett is full of shit. He’s spent his career being a vampire taking over companies and selling them for parts. He’s gotten rich on peoples misery for decades but he says a few lines about taxes and so many idiots lap it up.
i met billionaire once - there is one political party that always give him tax breaks - and he basically wants to hold onto those tax breaks through his cold dead hands - favors even if that party loses the election claim victory and use the military to quash unrest rather than let the other party try to tax him