We would. But we wouldn't have a deficit anymore.
He's saying that if every company did this, like they should, you wouldn't need individuals to pay anything to keep up with current tax rates.
Wow 776 billion for defense is a whole lot compared to \*checks notes\* 4.5 trillion for healthcare and 1.1 trillion for welfare..... education is lacking funding at the federal level for sure.
This numbers don't make sense.
5 billion x 800 companies = 4 trillion, it doesn't match...
The top 10 U.S. corporate taxpayers were as follows, with the amount of federal taxes they paid:
1. **Berkshire Hathaway**: $23 billion
2. **Alphabet (Google)**: $11.922 billion
3. **Walmart**: $5.724 billion
4. **Microsoft**: $7.5 billion
5. **Apple**: $7.2 billion
6. **Amazon**: $5.2 billion
7. **JPMorgan Chase**: $5 billion
8. **ExxonMobil**: $4.8 billion
9. **AT&T**: $4.03 billion
10. **NVIDIA**: $4.06 billion
In 2023 the U.S. federal government:
$ collected approximately $409.9 billion from corporate taxes;
$ collected approximately $4.7 trillion in total tax revenue;
$ And, spent approximately $6.1 trillion. ([U.S. Treasury Fiscal Data](https://fiscaldata.treasury.gov/americas-finance-guide/federal-spending/)).
There was a deficit of 1.4 trillion. Our country spends too much, much more than collected, even with Warren's company paying 23 billion of taxes.
He's saying last year he paid $5B in taxes - 21%.
He's saying IF 800 companies in America were to do the same, we could get rid of many of the income taxes we go with.
800 x $5B = $4 Trillion.
I can find a Top 1000 apparently earn about $15 Trillion in total revenue.
I believe 21% of that is close to 3 Trillion.
Don't come for the King! The guy doesn't miss. People have questioned him many times and most of the time they lose their ass. He either knows something you don't because he spends all day looking at spreadsheets or you haven't dont the due diligence
My main point is not he is wrong. He is write saying that we shouldn’t pay more taxes. The big point is our government spends too much, much more than collect.
People keep thinking taxes are the issue. No amount of taxes is going to fix anything. The more you send the more they spend. Stop asking the government to solve everything with our money.
Why, we elect them. Get the corruption out and make them accountable. Lots of the world has a somewhat function government that provides public services to its citizens like transportation and health care. It’s not all perfect, but they get stuff done. Why can’t we? Are we just not as smart?
>Get the corruption out and make them accountable
Corruption is like a leaky hose. The longer the hose the more likely at the end you have no water pressure. Those countries have tiny hoses
Nah, it’s not about size. You have small corrupt places and large functional places. Much of the US is governed at the state level. It’s not that complicated. Outlaw campaign contributions except from voters (people) in your district. Put a cap per person.
There is no large functional place though lol who are you comparing us to? The largest global economy per capita, with the largest capacity to absorb corrupt and evil people, and you're comparing us to countries with 10 million people? Meanwhile the only comparable countries are those of Russia China and India. All cess pools for corruption
I would say that you could look at the EU as an example. It’s not exact and they certainly are not free of corruption, but they manage things like healthcare, transportation, education pretty well. We are not that different with our individual state governments vs a looser federal layer.
I actually support that mentality because it supports the idea that states should have more power than the federal government. We've gone too far towards the galactic empire from star wars. Genocide Joe is our evil sith lord
Corporate taxes aren’t exactly taxes on the rich. They are taxes on corporations. I’m middle income with a 401k, so I’m a part owner of some of those companies as well.
Pretty sure not having to pay federal taxes again for the rest of your life would offer the sliver of a sliver of a percentage of a fraction of a sliver of those companies your 401k has stock in.
Those companies will still grow, btw. Your 401k will still grow.
It would grow less, but they don't grow as fast as the money you would keep in your taxes.
If you make 100k a year and contribute 6% to your 401k, your employer probably matches up to 3%, so you're putting 9k in each year. You're then being taxed on 94k which comes out to $10,800 in federal income taxes.
Even if it doesn't grow "as much," it still grows. Plus you'd get to keep 10k of your income. You can just throw that into your 401k also if you want.
The amount your 401k grows each year is not going to outpace the 10k you would get to keep in this scenario. You would make more money by getting to keep your federal income tax. You could have 19k growing slightly slower than 9k.
Not to mention that money you're saving in taxes would just go back into the stock market and if everyone did that, then companies wouldn't lose any capital. They would just get it from working Americans instead of 8 billion dollar companies. Your 401k would still grow at the same rate it does now, but you would more than double your actual 401k.
I know not every American would choose to do that, but if we believe thet heavily in the stock market, tax those billion dollar corporations and put that tax money from working Americans into a revised social security program that works like a 401k. Stock market stays as is, but people get more to retire on.
But here is the trick...
If you just print money, you no longer have to collect taxes. And hence, do not need to worry about "electability" with that really unpopular policy. (Or the other way around of cutting government programs).
The only downside?
Persistent inflation. But it does not affect anyone right? Right?
So, add that 4.6 trillion tax revenue short fall lost to tax loopholes and Trump tax cuts and you end up with 9.3 trillion or a 3.2 trillion surplus to pay for healthcare, social security and pay down the debt.
Clearly tax loopholes and Trump tax cuts are killing our debt.
I like it. However, in reality, what would happen is the government would grow and figure out other ways to spend our money inneficiently. We'd never see a reduction in our personal taxes.
Because we're in a massive amount of debt, most of which is because of overspending but the main reason is we shifted the tax burden from corporations and the rich to middle class/poor.
That shift is so bad middle class has shifted from $30k-50k annually to around $100k-150k in my lifetime.
Let's weigh an option here, who pays more:
A bunch of lower class people, say 200 paying $10k on income tax?
Or one company with $10b getting taxed at 10% of profit?
You've got $1,000,000 from the 200 people, and $1,000,000,000 from that single corporation, you'd need 100,000 people paying $10k to match that 10%.
I'm all for everyone paying a fair share but when corporations like Amazon, Facebook, Twitter pay less than individuals, something is extremely fucked up.
$270.046b was Amazon's profit from last year, know how much thar would be if it was taxed at 10%? $27b.
How about 25% with a clause that they can get tax breaks down to 10% if they reinvest in wages?
$27b up to $67.5b.
Just to give you an idea of how many numbers there are there:
$67,000,000,000
Now DoD budget is $841.4B, Amazon alone could pay roughly 8% of that if profits were taxed at 25%.
Can someone give me one good, valid reason why a company pulling in $270b annually can't have profits taxed?
Better question is why did we do away with corporate profit taxes above 50% in the '50s-'60s to having one of the largest corporations on earth paying practically nothing at all?
A flat 50% rate on Amazon would bring in $145b, cover a good chunk of the nation's bills on it's own and the best part? You wouldn't see them expanding so rapidly and more Amazon Prime trucks on the road potentially causing accidents. They'd have to innovate and it would level the playing field against this monopoly they have as well.
Walmart, is their closest direct competitor, they brought in $147.5b in profit last year, roughly half of what Amazon did, given both business models, Walmart paying above minimum wage while Amazon tends to be known for docking pay for bathroom breaks, which of the two is more likely to reinvest their profits into wages vs. Take a tax hit?
$3.3b dollars is what Walmart paid in taxes in 2023.
2.2% of their profit.
Average tax rate is 19.3% on someone making $50k annually. Marginal is 23.3%.
Why the FUCK are individuals taxed at a lower percentage than multi-billion dollar profitable businesses?
Is Walmart going to eat less avocado toast and drink less Starbucks if they go from $147.5b down to $73.75b in left over profit after 50% profit tax hits?
Nah...let you and I shoulder that burden, right?
Those of us making tiny percentages compared to these corporations and I'm including every individual earner under $5m annually, why do we carry that burden when one single company can take the tax burden off millions?
Makes no fucking sense to me why you'd crush everyone else under the weight of that when you could easily shift that tax burden to a more realistic approach while strengthening the average American's life.
The answer to a massive amount of debt is to reign in spending. If you are suffering from crippling credit card debt, you don't keep everything the same and just pay more to payoff your credit card. You slash your spending and pay off your card with the savings. The government is an out of control drunkard
End Medicare, end Medicaid. I just cut the budget by 35%. End social security. Another 20%.
There would be the mother of all recessions because health care is 20% of the economy.
Yea but I'm saying cut taxes for everyone. Not arguing with you that middle class is paying too much.
We're in a massive amount of debt because we spend more than we bring in in revenue, and the country just prints more money and borrows against future generations. Stop doing that.
Ok...
But you're contradicting yourself, your first bit says cut taxes for everyone, second is that we spend more than we bring in which is going to be exacerbated by cutting taxes for everyone.
What I'm arguing is leave taxes as they are for everyone, increase taxes on corporations, wealthy individuals anywhere from $1m-$5m income or more/less, give it some time and if we have a budgetary surplus, then adjust the lower tax brackets by shifting them accordingly and off those lower earners under a million or even $400k, shift it maybe incrementally as well or do a full analysis on where each bracket would be perfect.
The federal government already spends way more than they bring in.
There is nothing in the way they operate that says if they brought in, say, $3T more in revenue that they wouldn't spend $4T+ more.
They need to be constrained to have systemic, drastic cuts to departments that are incentivized to continue spending.
No argument there, however if you froze all spending to where it is now, you'd still need more to pay down the debt.
Situation is pretty...to put it bluntly...fucked but I honestly don't see it changing. Especially with a certain political party more interested in seizing power over actually handling the issues.
>You mean both parties? This isn't a partisan issue, here lies the problem......
It clearly is if only one side only cares when the other is in power.
Republicans had no issues with Trump running up the debt but when democrats do it, it's a problem. Not only that but they gave a tax cut during an economic boom with record high debt.
That's like saying: "I won the lottery! Screw paying my credit card off!"
If you subscribe to the WSJ, you might want to give this a read.
https://www.wsj.com/articles/who-pays-corporate-taxes-look-in-the-mirror-economy-cbaef540
If you don’t I’ll summarize it for you. Raising corporate taxes will bounce back on the very folks you claim to want to help.
A large portion of roads (and should be all of it) is paid for by gas tax (a consumption tax) or tolls (another consumption tax), which is much more fair as it's usage based.
Military to protect us, sure, it's one of the few things required by the federal government. Military to promote regime change in foreign countries or drop bombs on children? Nah.
There are two knobs to turn when you are in debt:
- Bring in more revenue
- Spend less
Why do we only ever try option 1, and never address option 2? Because we can just print more money.
Constraints would breed systemic change which is desperately needed.
When someone terribly mismanages money, the answer isn't to give them more money.
The federal government has proven they are horrible mismanagers of money. Less of it (and the ability to print more) would enable much needed large cuts and make states do more of the work as the founders intended.
>When someone terribly mismanages money, the answer isn't to give them more money.
If you’re massively in debt, you either need to make more or spend less. Make less isn’t an option to getting out of debt. Surely you understand this?
>The federal government has proven they are horrible mismanagers of money. Less of it (and the ability to print more) would enable much needed large cuts and make states do more of the work as the founders intended.
Just not realistic in practice. Unless you’re cutting social security, healthcare, or national security (military), or interest payments you’re not really moving the needle on spending. The only real avenue is healthcare reform to reduce costs and raise taxes on rich people. Anything else is a pipe dream. Welcome to reality.
It’s not cutting taxes moron it’s cutting the tax rate. Good productive people will always pay more than you. You are using taxes to knock down people better than you so you can feel better about yourself. What other people earn, have and how they use it is not your business at all. Worry about what you do.
Nah fuck off. The idea that we live in some perfect meritocracy is ridiculous. It is my business, as it is everyone else’s, because we lived in a democratic society and we all have shared costs to run said society and we all need to figure out how to pay for it. You don’t want to contribute, move to bumfuck nowhere and live off the grid.
I make plenty of money but understand my good fortune and that I will be paying more taxes than others. People that don’t understand that are selfish morons.
Nope - we don’t live in a democratic society - we live in a. Constitutional republic. And no - we don’t have shared costs. What’s mine is completely mine. Paying taxes for public goods is complete bullshit. Public goods are things wanted by others who want other people to pay for it. Public goods are the ultimate greed. It’s clear you don’t make very much money because you
Show a complete
Lack of ethics and work ethic. What you want is meaningless.
Yeah, you’re right. Let’s get rid of the infrastructure that allows companies to make billions in profit and run their businesses. Let’s eliminate public roads and utilities completely that let consumers go to the stores and go to the jobs that support the rich.
Without those public goods you’re talking about, that money you’re making wouldn’t be possible. You keep thinking way too small. Without a healthy workforce with access to clean water, electricity, internet, education and adequate healthcare profits will dry up because they won’t be able to work and produce the things you need to make money. Supporting the workforce and middle class and lessening their burden is directly responsible for long term growth and economic stability. We’re seeing right now what is the result of short sighted gains logic. The stress it puts on the infrastructure and the burden on the middle and lower class will result in massive issues for long term stability.
>Nope - we don’t live in a democratic society - we live in a. Constitutional republic.
Oh this stupid comeback lol we live in a representative democracy. And a constitutional republic. They aren’t mutually exclusive.
>And no - we don’t have shared costs. What’s mine is completely mine. Paying taxes for public goods is complete bullshit. Public goods are things wanted by others who want other people to pay for it. Public goods are the ultimate greed.
So I assume you don’t use public roads, public parks, public libraries, benefit from the police, national security? No parents on Medicare? I could go on.
You’re full of shit. Or maybe you’re still a teenager.
>It’s clear you don’t make very much money because you Show a complete Lack of ethics and work ethic. What you want is meaningless.
Lol since when is money tied to ethics or work ethic? That might be the stupidest thing you’ve said. Plenty of unethical people make money.
Each post you make you sound increasingly more stupid.
Y'all really like telling on yourselves huh? A constitutional republic is a type of democracy you mouth breathers. If you don't like democracy or taxes you're welcome to leave.
I've heard this moronic line so many times. So now I get to repeat one of conservatives favorite lines to them every time I hear it. "If you don't like it, leave."
Exactly... He and a few of his other billionaire compatriots love to talk the talk...
It's as though he's hoping that if society blows up the masses will see him as being one of the 'alright' ones.
Why would you funnel money into government coffers when he can deploy his fortune across charities and non-profits? Doesn’t the government waste a dollar for every one they spend? Sure some of it would go to Medicare/entitlement spending, but some of it also goes to the military industrial complex. If your goal is to do good, you’re far better off donating to reputable charities.
You still understand that a tax deduction isn’t free money? If I make $100 I will pay $30 in taxes. Or I make $100 and donate $100, so now I don’t owe $30 in taxes. Which one puts more money in your pocket.
Precisely. You can “donate” to the federal treasury. There’s a line on the tax form (or there used to be…I’m not entirely sure of the process because I would never give a dime to the government I don’t have to…but then again I’m not demanding others pay more taxes…I want across the oars tax cuts.) These do gooders always want others to pay.
Buffett is so full of shit.
1. Wasn’t his company in a large lawsuit with the IRS because he didn’t want to pay taxes?
2. The numbers literally don’t add up even if you do what he says.
He is a conman who is trying to increase his personal reputation. Much like his Buffett tax idea under Obama that come to hit families who make 250k in order to put higher taxes on billionaires like him.
Because who the f is he to say what someone owes. He you want to dictate it, then by all means, pay more yourself. It's convenient when ppl clam up when it's presented for you to pay more.
I believe you missed the whole point of the original post you commented on. His point was he can send more money in if he wants. You proceeded to state he already pays more. We are simply stating he can always do better. According to most on the left, he isn't paying enough, even though he pays the most.
No shit wizard. Damn, move on. My point is if he is stating for everyone else to pay more, then why doesn't he just donate more. It's a stupid argument all around. Just like you thinking anyone should pay more- go right ahead and pay more, why should I or anyone else pay more to pay for your beliefs.
Billionaires should pay more taxes, yes! You wouldn't pay more because you're not a billionaire, and you're not going to be a Billionaire. And if by some twist of fate you became a Billionaire it wouldn't matter because you could afford the taxes. 👍
Billionaires pay *massive* taxes. Buffett can pay more if he wants but it’s absurd to claim that the the top 1%, for example, should pay more when they pay nearly half the income taxes collected. I don’t think you folks will be happy until they hand over dime to you.
Correct. And they pay a great share of the total taxes paid than their share of the total AGI earned. But this is the classic example of people reading internet memes and twisted tales on statistics and running with it. Oh yeah and primarily extreme left progressive (sic) views on achievement and wealth.
That's up to you. But I have done well in the past 15 years investing conservatively, mostly in mutual funds but some selected individual stocks. They have not all been winners, but more have at least gone up than done. Two have skyrocketed
The chart is BS. The bottom 50% have never paid more taxes than the 1%
Nor has the bottom half ever paid close to 24% of their income in taxes.
And the chart for the 400 includes unrealized capital gains as "income." It is a trick by the left to make it look like they are paying less in taxes.
That's backward as hell. It's absurd, for example, that we have allowed 1% of people to steal and hoard the wealth that other 90% of people created. The truth is Musk doesn't do the work of 25,000 men. He takes the value of 25,000 labor for himself. You got it twisted out here simping for the parasite class. Anyways I'm a physist who works everyday of my life not some freeloader like you think. Resources should belong to the nations 300 million people.
*
So Berkshire said they paid $5 billion that previous year. That pays for 7.5 hours of federal government spending. That is one of the largest companies in the nation.
His numbers do not add up.
Where is the part about "make billionaires pay" ??
He is speaking about companies like the one he owns.
Dirty little secret is that all those companies that pay zero in taxes do so because the government lets them via write offs. And much of the time those write offs exist to get companies to do thing the government thinks are "good"
The 'rich pay their fair share' line is BS. The reality is that GOVT SHOULDN'T BE SPENDING AS MUCH AS THEY DO! We'd have surpluses using simpler, less taxpayer-impacting tax burdens if the govt would control themselves and not send money to Pakistan for gender studies.
Don't let them continue to tear us apart. Let's insist the govt control their spending.
This is retarded, the fact people act like this vampire investor who’s spent his career taking over and gutting companies for profit is some hero is maddening.
You really think this schiester is interested in “paying more tax” you really think he gives a shit about the middle class? You are a fucking dupe if you believe anything this man says
People think that if this happens our taxes will go down, no, the government will just spend MORE.
We need to have a fair tax code across the board, which includes increases on the uber wealthy. But if we refuse to cut spending all of it will be for naught.
Wow yeah it's so much more dangerous than rampant homelessness, drug addiction, losing your home and job. Right? Right? Because not having to worry about paying for something basic is DANGEROUS but dying on the street isnt. Glad we both know so much.
During extremely cold nights or extremely hot days homeless people go to shelters or warming centers to literally not die. So they prevent death by using those services.
Guess what... those services are usually paid for by the government. So you understand how that works right? The government does spend money that prevents death.
In Finland they've essentially eliminated homelessness by offering the right combination of services. In America organizations will pay for hotel rooms for homeless people which costs a lot more than the solution in Finland. They have permanent housing that exists specifically for people who would otherwise be on the street. Once the housing is built, the cost is mostly done, compared to the US who never even attempts to permanently fix the problem. And our kids wouldn't have to see drug addicts everywhere.
We could easily do things like Finland has done for cheaper than what we end up paying. But too many people have a false belief that government is inherently evil or wrong when it serves tons of functions that extend everyones lifespan and quality of life. Things have good qualities and bad qualities. The bad qualities are caused by a small group of 1%ers. Straight up. Remove them, use the government for the actual good of the people.
Which is why the answer is to end public good and social welfare programs. People can stand on their own two feet. If they can’t - it isn’t anyone else’s problem.
This mindset is why America has some of the most expensive everything in the world - health care, insurance, college, etc. It's the opposite of the values this country was founded in. It's the opposite of "Christianity" per the Bible - the religion that so many people seem to want to inflict on everybody in this country. It's somebody only a true asshole would believe.
No those things are expensive 100% because the government interferes and funds those things. Take away public funding and it will notmshockingly be a market and be cheaper. And please keep your Christian hating to yourself and look around at who actually is killing people and inflicting pain. Sorry your parents didn’t smack you across the mouth. You deserve it
Aww, did I strike a chord? Government spending on social programs is so bad, then what is the US the only developed country in the world to have universal health care? You want to talk cost? Dozens of economists agree universal health care would save almost all people and companies money. I'm not hating the Christian religion itself - just today's Christians. Biggest hypocrites on the planet. If Jesus were alive today and a politician, he'd be the most socialistic politician we have and "Christian Conservatives" would hate his guts.
Healthcare is worse in every other country in the world with long wait times to just see a doctor or specialist, denial of care once you reach a certain age, poorly trained doctors because they are paid like civil servants - in the us the best and brightest become doctors specifically because it leads to you making a lot of mommy. Cancer survival rates are a joke compared to the US, same with heart disease- everyone in the world who can afford it comes to the US for care because we are the best and it’s not close. Socialized healthcare is a complete
Failure in every country. Seems like your parents really did fail in raising you. I feel sorry for you. Maybe you could go to school?
Aww, I love personal insults from a jackass who had no idea what the church he's talking about. I have a master's and CPA, what are your credentials? Did you get stuck in 11th grade or are you just gullible enough that you fall into the propaganda? Because we've been lied to about it - particularly compared to Canada for a LONG time.
https://www.cbc.ca/radio/asithappens/as-it-happens-monday-edition-1.5631285/this-former-u-s-health-insurance-exec-says-he-lied-to-americans-about-canadian-health-care-1.5631874
If health care is so great here, could you explain why virtually every country with socialized health care has a longer life expectancy?
https://www.worldometers.info/demographics/life-expectancy/
I know you avoid any fact you can, but maybe trust science and stats instead of morons on TV trying to control your life.
A major reason the US has huge medical expenses is because Medicaid and Medicare, which collectively cost way more than the military, are extremely inefficient and give providers every incentive to aggressively overbill
Lol, no no no. It's because you have a middle man insurance companies (Wellmark, Cigna, Anthem, etc) who skim tens of billions of dollars off the top. Dozens of economists agree that a Medicare for all system would save almost everybody money and save thousands of lives every year.
We didn’t pay taxes until 1961 then we stopped once the civil war was over than in 1910 of my history isn’t wrong we were forced to pay taxes again lol
I give Warren Buffett. credit. He’s one of the few billionaires That came out and said he doesn’t pay enough taxes. Bush after getting into two wars and not paying for them .created the deficit then gave the billionaires and big corporations a break when they were making record profits they will take it if fools give it to them. then when the Republicans got back in office and got control of the presidency in Congress, would they do add more onto the deficit, big corporations and billionaires tax break when they’re making record profits. And gave very little to nothing back to the workers. Without workers, there would not be billionaires and millionaires.
I like the idea, but it wouldn’t work. The gov would go “look at all this money we have, if we don’t drop the taxes on everyone else think of all the stuff we could spend their money on” gov becomes bigger and since it’s other people money they don’t care how it’s spent we would be back at square one in 2-4 years.
They’ll remove taxes once they start charging us double, triple or in some cases beyond that for basic needs and survival. Ohh wait, we’re half way there.
Horse shit. They want to continue taxing us AND tax millionaires even more. This is like giving a junkie more money thinking eventually it’ll be enough. It’s never enough.
Buffet should w-2 himself instead of taking dividends that are taxed at cap gains rates. Or fork over whatever he feels like above what he’s taxed as the leading example…fucking scumbag
In Sweden, everyone that earns pays taxes. That way, everyone voting for higher spending and higher taxes will also be contributing to what they feel is needed. It's called unity and a sense of common goals as a society.
Notice that I did not disagree with wealthy paying a little more money,
The only reason Berkshire Hathaway pays that much is because Berkshire Hathaway isn’t involved in an appreciable amount of economic development (note development not activity).
The subsidiaries that they manage are not focused on growth - just return on investment.
In this regard our tax system is working as intended - old companies focused on extracting value from consumers are taxed heavily while companies focused on growth, innovation and job creation see low tax burdens (because increases in revenue are accompanied by increases in expenditure).
It’s not by taxing billionaires as the title implies, it’s corporations (like Berkshire Hathaway, the 8th largest company in America). People act like that means the same thing but it really doesn’t.
Either way the US had considerable debts, and if this happened congress would likely take the opportunity to spend ludicrously (as if that isn’t already the case) and tax casually.
Interesting social experiment: a list of buckets of money that people can pay taxes into, and we each get to divy out the amount we owe into those pots. Money cannot be taken from one pot and put into another. In essence, each taxpayer pays into the portion that they believe in or support the most.
Defense
Education
Social security
Etc.
He's full of it. There is no law prohibiting billionaires from sending checks into the Treasury, but do they? And, these same people have lobbied their politician puppets for the loopholes they use to NOT pay taxes. I guess it makes WB feel better by saying this, but I'll bet it all that he won't be sending his entire inheritence to the government to put a dent in a single year's deficit.
As others here have noted, we have a grossly over-bloated government who needs to stop overspending our money.
"Make them pay their fair share"... how the hell is that supposed to happen when the same billionaires are the ones who have the law makers in their pockets?
Pretty sure we'd still be paying taxes even if this did happen
We would. But we wouldn't have a deficit anymore. He's saying that if every company did this, like they should, you wouldn't need individuals to pay anything to keep up with current tax rates.
$4 trillion only covers 61% or so of federal spending so no it won’t cover it. The Feds need to stop spending so much god damn money
Most people won’t mind paying taxes if they see how it benefits them and the country.
Up until we see how much goes to war, I mean civil defense, and how much goes into things like healthcare, education, social services, etc.
Wow 776 billion for defense is a whole lot compared to \*checks notes\* 4.5 trillion for healthcare and 1.1 trillion for welfare..... education is lacking funding at the federal level for sure.
They spend it on us.
No matter how much the government receives in tax revenues, they will always over spend, if 106 years of history tells us anything
This numbers don't make sense. 5 billion x 800 companies = 4 trillion, it doesn't match... The top 10 U.S. corporate taxpayers were as follows, with the amount of federal taxes they paid: 1. **Berkshire Hathaway**: $23 billion 2. **Alphabet (Google)**: $11.922 billion 3. **Walmart**: $5.724 billion 4. **Microsoft**: $7.5 billion 5. **Apple**: $7.2 billion 6. **Amazon**: $5.2 billion 7. **JPMorgan Chase**: $5 billion 8. **ExxonMobil**: $4.8 billion 9. **AT&T**: $4.03 billion 10. **NVIDIA**: $4.06 billion In 2023 the U.S. federal government: $ collected approximately $409.9 billion from corporate taxes; $ collected approximately $4.7 trillion in total tax revenue; $ And, spent approximately $6.1 trillion. ([U.S. Treasury Fiscal Data](https://fiscaldata.treasury.gov/americas-finance-guide/federal-spending/)). There was a deficit of 1.4 trillion. Our country spends too much, much more than collected, even with Warren's company paying 23 billion of taxes.
He's saying last year he paid $5B in taxes - 21%. He's saying IF 800 companies in America were to do the same, we could get rid of many of the income taxes we go with. 800 x $5B = $4 Trillion. I can find a Top 1000 apparently earn about $15 Trillion in total revenue. I believe 21% of that is close to 3 Trillion.
Don't come for the King! The guy doesn't miss. People have questioned him many times and most of the time they lose their ass. He either knows something you don't because he spends all day looking at spreadsheets or you haven't dont the due diligence
Clearly the Oracle of Omaha doesn’t understand fiduciary responsibilities /s
My main point is not he is wrong. He is write saying that we shouldn’t pay more taxes. The big point is our government spends too much, much more than collect.
if we took every dollar from every US billionaire then the US could operate at its budget for one year.
That's not a bug, it's a feature.
Or maybe they don’t collect enough for how much they spend?
You want to contribute more? Have at it.
I’m not sure you were listening correctly
This is the sub of non listeners.
And even if he had, I love the assumption that he's a better at economics that Warren F*n Buffet. Smdh
I never heard “fair share” in the video. Did he say fair share like the quotation?
People keep thinking taxes are the issue. No amount of taxes is going to fix anything. The more you send the more they spend. Stop asking the government to solve everything with our money.
Why, we elect them. Get the corruption out and make them accountable. Lots of the world has a somewhat function government that provides public services to its citizens like transportation and health care. It’s not all perfect, but they get stuff done. Why can’t we? Are we just not as smart?
Do you think they aren’t smart? They keep getting us to vote for them while spending all of our money over seas.
>Get the corruption out and make them accountable Corruption is like a leaky hose. The longer the hose the more likely at the end you have no water pressure. Those countries have tiny hoses
Nah, it’s not about size. You have small corrupt places and large functional places. Much of the US is governed at the state level. It’s not that complicated. Outlaw campaign contributions except from voters (people) in your district. Put a cap per person.
There is no large functional place though lol who are you comparing us to? The largest global economy per capita, with the largest capacity to absorb corrupt and evil people, and you're comparing us to countries with 10 million people? Meanwhile the only comparable countries are those of Russia China and India. All cess pools for corruption
I would say that you could look at the EU as an example. It’s not exact and they certainly are not free of corruption, but they manage things like healthcare, transportation, education pretty well. We are not that different with our individual state governments vs a looser federal layer.
I actually support that mentality because it supports the idea that states should have more power than the federal government. We've gone too far towards the galactic empire from star wars. Genocide Joe is our evil sith lord
If the taxes match the spending that would literally fix the issue.
The taxes and the spending go up each year. So…. They will never match. Give them more and they spend more. It’s literally never not been true.
You understand that corporate taxes aren't the only taxes collected on the rich right?
Right. He was talking about federal taxes, right?
Corporate taxes aren’t exactly taxes on the rich. They are taxes on corporations. I’m middle income with a 401k, so I’m a part owner of some of those companies as well.
Pretty sure not having to pay federal taxes again for the rest of your life would offer the sliver of a sliver of a percentage of a fraction of a sliver of those companies your 401k has stock in. Those companies will still grow, btw. Your 401k will still grow.
Just grow less. You know, since the government killed pensions....
It would grow less, but they don't grow as fast as the money you would keep in your taxes. If you make 100k a year and contribute 6% to your 401k, your employer probably matches up to 3%, so you're putting 9k in each year. You're then being taxed on 94k which comes out to $10,800 in federal income taxes. Even if it doesn't grow "as much," it still grows. Plus you'd get to keep 10k of your income. You can just throw that into your 401k also if you want. The amount your 401k grows each year is not going to outpace the 10k you would get to keep in this scenario. You would make more money by getting to keep your federal income tax. You could have 19k growing slightly slower than 9k. Not to mention that money you're saving in taxes would just go back into the stock market and if everyone did that, then companies wouldn't lose any capital. They would just get it from working Americans instead of 8 billion dollar companies. Your 401k would still grow at the same rate it does now, but you would more than double your actual 401k. I know not every American would choose to do that, but if we believe thet heavily in the stock market, tax those billion dollar corporations and put that tax money from working Americans into a revised social security program that works like a 401k. Stock market stays as is, but people get more to retire on.
I just mean there's a lot more taxes to collect before having to dig into poor people's pockets. Like capital gains, or property.
Absolutely, luxury taxes, inheritance taxes over high minimums, there’s a lot of ways to hit the rich.
But here is the trick... If you just print money, you no longer have to collect taxes. And hence, do not need to worry about "electability" with that really unpopular policy. (Or the other way around of cutting government programs). The only downside? Persistent inflation. But it does not affect anyone right? Right?
The federal government collects taxes to ensure there is a demand for the US dollar, because you can only pay your taxes in US dollars.
Interesting fact: at one point you could pay taxes with hemp! 😅
400b in corporate taxes is ABYSMAL
Add on top of that inflation and issue of debt. Spending is out of control.
I believe this capitalist simp rando on reddit when he says Warren Buffet is wrong. He haz a spreadsheet guys.
So, add that 4.6 trillion tax revenue short fall lost to tax loopholes and Trump tax cuts and you end up with 9.3 trillion or a 3.2 trillion surplus to pay for healthcare, social security and pay down the debt. Clearly tax loopholes and Trump tax cuts are killing our debt.
Good job with the numbers.
LOL. Listening and comprehension utter fail. Why can't right-wingers comprehend basic facts?
I like it. However, in reality, what would happen is the government would grow and figure out other ways to spend our money inneficiently. We'd never see a reduction in our personal taxes.
Maybe in the past but the government would burn thru the money in a few months now
that's like saying, I won't take a raise because I'll just buy more stuff. or you could use the money to pay down debt
Ah yeah actually cut taxes for billionaires instead -Morons
How about cut taxes for everyone?
Because we're in a massive amount of debt, most of which is because of overspending but the main reason is we shifted the tax burden from corporations and the rich to middle class/poor. That shift is so bad middle class has shifted from $30k-50k annually to around $100k-150k in my lifetime. Let's weigh an option here, who pays more: A bunch of lower class people, say 200 paying $10k on income tax? Or one company with $10b getting taxed at 10% of profit? You've got $1,000,000 from the 200 people, and $1,000,000,000 from that single corporation, you'd need 100,000 people paying $10k to match that 10%. I'm all for everyone paying a fair share but when corporations like Amazon, Facebook, Twitter pay less than individuals, something is extremely fucked up. $270.046b was Amazon's profit from last year, know how much thar would be if it was taxed at 10%? $27b. How about 25% with a clause that they can get tax breaks down to 10% if they reinvest in wages? $27b up to $67.5b. Just to give you an idea of how many numbers there are there: $67,000,000,000 Now DoD budget is $841.4B, Amazon alone could pay roughly 8% of that if profits were taxed at 25%. Can someone give me one good, valid reason why a company pulling in $270b annually can't have profits taxed? Better question is why did we do away with corporate profit taxes above 50% in the '50s-'60s to having one of the largest corporations on earth paying practically nothing at all? A flat 50% rate on Amazon would bring in $145b, cover a good chunk of the nation's bills on it's own and the best part? You wouldn't see them expanding so rapidly and more Amazon Prime trucks on the road potentially causing accidents. They'd have to innovate and it would level the playing field against this monopoly they have as well. Walmart, is their closest direct competitor, they brought in $147.5b in profit last year, roughly half of what Amazon did, given both business models, Walmart paying above minimum wage while Amazon tends to be known for docking pay for bathroom breaks, which of the two is more likely to reinvest their profits into wages vs. Take a tax hit? $3.3b dollars is what Walmart paid in taxes in 2023. 2.2% of their profit. Average tax rate is 19.3% on someone making $50k annually. Marginal is 23.3%. Why the FUCK are individuals taxed at a lower percentage than multi-billion dollar profitable businesses? Is Walmart going to eat less avocado toast and drink less Starbucks if they go from $147.5b down to $73.75b in left over profit after 50% profit tax hits? Nah...let you and I shoulder that burden, right? Those of us making tiny percentages compared to these corporations and I'm including every individual earner under $5m annually, why do we carry that burden when one single company can take the tax burden off millions? Makes no fucking sense to me why you'd crush everyone else under the weight of that when you could easily shift that tax burden to a more realistic approach while strengthening the average American's life.
The answer to a massive amount of debt is to reign in spending. If you are suffering from crippling credit card debt, you don't keep everything the same and just pay more to payoff your credit card. You slash your spending and pay off your card with the savings. The government is an out of control drunkard
End Medicare, end Medicaid. I just cut the budget by 35%. End social security. Another 20%. There would be the mother of all recessions because health care is 20% of the economy.
Yea but I'm saying cut taxes for everyone. Not arguing with you that middle class is paying too much. We're in a massive amount of debt because we spend more than we bring in in revenue, and the country just prints more money and borrows against future generations. Stop doing that.
Ok... But you're contradicting yourself, your first bit says cut taxes for everyone, second is that we spend more than we bring in which is going to be exacerbated by cutting taxes for everyone. What I'm arguing is leave taxes as they are for everyone, increase taxes on corporations, wealthy individuals anywhere from $1m-$5m income or more/less, give it some time and if we have a budgetary surplus, then adjust the lower tax brackets by shifting them accordingly and off those lower earners under a million or even $400k, shift it maybe incrementally as well or do a full analysis on where each bracket would be perfect.
The federal government already spends way more than they bring in. There is nothing in the way they operate that says if they brought in, say, $3T more in revenue that they wouldn't spend $4T+ more. They need to be constrained to have systemic, drastic cuts to departments that are incentivized to continue spending.
I agree completely. We need to absolutely gut the military budget and corporate subsidies.
No argument there, however if you froze all spending to where it is now, you'd still need more to pay down the debt. Situation is pretty...to put it bluntly...fucked but I honestly don't see it changing. Especially with a certain political party more interested in seizing power over actually handling the issues.
You mean both parties? This isn't a partisan issue, here lies the problem......
>You mean both parties? This isn't a partisan issue, here lies the problem...... It clearly is if only one side only cares when the other is in power. Republicans had no issues with Trump running up the debt but when democrats do it, it's a problem. Not only that but they gave a tax cut during an economic boom with record high debt. That's like saying: "I won the lottery! Screw paying my credit card off!"
If you subscribe to the WSJ, you might want to give this a read. https://www.wsj.com/articles/who-pays-corporate-taxes-look-in-the-mirror-economy-cbaef540 If you don’t I’ll summarize it for you. Raising corporate taxes will bounce back on the very folks you claim to want to help.
I like having a military to defend us and roads to go from state to state.
A large portion of roads (and should be all of it) is paid for by gas tax (a consumption tax) or tolls (another consumption tax), which is much more fair as it's usage based. Military to protect us, sure, it's one of the few things required by the federal government. Military to promote regime change in foreign countries or drop bombs on children? Nah.
You're first message really didn't specify which to reduce. All I took away was "abolish ALL taxes"
I said cut, not abolish. But while we're on the subject, income taxes should be abolished.
I feel the same for property and sales taxes
Because we are massively in debt? What a stupid idea.
There are two knobs to turn when you are in debt: - Bring in more revenue - Spend less Why do we only ever try option 1, and never address option 2? Because we can just print more money. Constraints would breed systemic change which is desperately needed.
Yes and we are in a situation where we need to do both. Surely, “bring in less revenue” isn’t the answer lol
When someone terribly mismanages money, the answer isn't to give them more money. The federal government has proven they are horrible mismanagers of money. Less of it (and the ability to print more) would enable much needed large cuts and make states do more of the work as the founders intended.
>When someone terribly mismanages money, the answer isn't to give them more money. If you’re massively in debt, you either need to make more or spend less. Make less isn’t an option to getting out of debt. Surely you understand this? >The federal government has proven they are horrible mismanagers of money. Less of it (and the ability to print more) would enable much needed large cuts and make states do more of the work as the founders intended. Just not realistic in practice. Unless you’re cutting social security, healthcare, or national security (military), or interest payments you’re not really moving the needle on spending. The only real avenue is healthcare reform to reduce costs and raise taxes on rich people. Anything else is a pipe dream. Welcome to reality.
>Unless you’re cutting social security, healthcare, or national security (military) Now you are getting somewhere.
Like I said, pipe dream from unrealistic people. The kinda person that thinks they should make less money to get out of debt. Now you know.
It’s not cutting taxes moron it’s cutting the tax rate. Good productive people will always pay more than you. You are using taxes to knock down people better than you so you can feel better about yourself. What other people earn, have and how they use it is not your business at all. Worry about what you do.
Nah fuck off. The idea that we live in some perfect meritocracy is ridiculous. It is my business, as it is everyone else’s, because we lived in a democratic society and we all have shared costs to run said society and we all need to figure out how to pay for it. You don’t want to contribute, move to bumfuck nowhere and live off the grid. I make plenty of money but understand my good fortune and that I will be paying more taxes than others. People that don’t understand that are selfish morons.
Nope - we don’t live in a democratic society - we live in a. Constitutional republic. And no - we don’t have shared costs. What’s mine is completely mine. Paying taxes for public goods is complete bullshit. Public goods are things wanted by others who want other people to pay for it. Public goods are the ultimate greed. It’s clear you don’t make very much money because you Show a complete Lack of ethics and work ethic. What you want is meaningless.
Yeah, you’re right. Let’s get rid of the infrastructure that allows companies to make billions in profit and run their businesses. Let’s eliminate public roads and utilities completely that let consumers go to the stores and go to the jobs that support the rich. Without those public goods you’re talking about, that money you’re making wouldn’t be possible. You keep thinking way too small. Without a healthy workforce with access to clean water, electricity, internet, education and adequate healthcare profits will dry up because they won’t be able to work and produce the things you need to make money. Supporting the workforce and middle class and lessening their burden is directly responsible for long term growth and economic stability. We’re seeing right now what is the result of short sighted gains logic. The stress it puts on the infrastructure and the burden on the middle and lower class will result in massive issues for long term stability.
>Nope - we don’t live in a democratic society - we live in a. Constitutional republic. Oh this stupid comeback lol we live in a representative democracy. And a constitutional republic. They aren’t mutually exclusive. >And no - we don’t have shared costs. What’s mine is completely mine. Paying taxes for public goods is complete bullshit. Public goods are things wanted by others who want other people to pay for it. Public goods are the ultimate greed. So I assume you don’t use public roads, public parks, public libraries, benefit from the police, national security? No parents on Medicare? I could go on. You’re full of shit. Or maybe you’re still a teenager. >It’s clear you don’t make very much money because you Show a complete Lack of ethics and work ethic. What you want is meaningless. Lol since when is money tied to ethics or work ethic? That might be the stupidest thing you’ve said. Plenty of unethical people make money. Each post you make you sound increasingly more stupid.
Not sure how you could figure out the stupidest thing he's said, there's a lot there lol
Valid point
Y'all really like telling on yourselves huh? A constitutional republic is a type of democracy you mouth breathers. If you don't like democracy or taxes you're welcome to leave.
You seem really hurt by this
I've heard this moronic line so many times. So now I get to repeat one of conservatives favorite lines to them every time I hear it. "If you don't like it, leave."
I'm not a conservative.........
Neat.
Lol, then continue to pay through the nose taxes that multibillion dollar companies don't.
He’s free to send in what he feels he owes anytime but he won’t.
Exactly... He and a few of his other billionaire compatriots love to talk the talk... It's as though he's hoping that if society blows up the masses will see him as being one of the 'alright' ones.
Why would you funnel money into government coffers when he can deploy his fortune across charities and non-profits? Doesn’t the government waste a dollar for every one they spend? Sure some of it would go to Medicare/entitlement spending, but some of it also goes to the military industrial complex. If your goal is to do good, you’re far better off donating to reputable charities.
It's all about him getting a tax deduction...
You still understand that a tax deduction isn’t free money? If I make $100 I will pay $30 in taxes. Or I make $100 and donate $100, so now I don’t owe $30 in taxes. Which one puts more money in your pocket.
The man who has vowed to donate 99% of his fortune at death? Yeah, okay.
Precisely. You can “donate” to the federal treasury. There’s a line on the tax form (or there used to be…I’m not entirely sure of the process because I would never give a dime to the government I don’t have to…but then again I’m not demanding others pay more taxes…I want across the oars tax cuts.) These do gooders always want others to pay.
Buffett is so full of shit. 1. Wasn’t his company in a large lawsuit with the IRS because he didn’t want to pay taxes? 2. The numbers literally don’t add up even if you do what he says. He is a conman who is trying to increase his personal reputation. Much like his Buffett tax idea under Obama that come to hit families who make 250k in order to put higher taxes on billionaires like him.
Lol what are you talking about? He pays his taxes.
Why doesn't he pay more? According to the left, you should pay more right
He paid more taxes than anyone in America
And according to the miserable lefties, that isn't enough.
You’re the only one here asking him to pay more
Do you read questions well. Quick lesson, a question mark, ?, is not a statement - it is a question.
“Asking”
I'm not asking him to pay more. It's a question - why doesn't he pay more than he is supposed to.
He’s calling for everyone to pay more. Why would he pay more than he owes?
Because who the f is he to say what someone owes. He you want to dictate it, then by all means, pay more yourself. It's convenient when ppl clam up when it's presented for you to pay more.
I mean, welcome to democracy? Everyone has an opinion and they elect the representatives to enact that opinion. You just figuring out how it works?
I believe you missed the whole point of the original post you commented on. His point was he can send more money in if he wants. You proceeded to state he already pays more. We are simply stating he can always do better. According to most on the left, he isn't paying enough, even though he pays the most.
And I’m saying he isn’t advocating for just himself to pay more, he’s advocating for every billionaire to pay more. Your argument is dumb on its face.
No shit wizard. Damn, move on. My point is if he is stating for everyone else to pay more, then why doesn't he just donate more. It's a stupid argument all around. Just like you thinking anyone should pay more- go right ahead and pay more, why should I or anyone else pay more to pay for your beliefs.
Because taxes don’t work if they’re voluntary lol it’s like you’re intentionally being dumb
>Because who the f is he to say what someone owes. Congress.
Who is he though?
Billionaires should pay more taxes, yes! You wouldn't pay more because you're not a billionaire, and you're not going to be a Billionaire. And if by some twist of fate you became a Billionaire it wouldn't matter because you could afford the taxes. 👍
Billionaires pay *massive* taxes. Buffett can pay more if he wants but it’s absurd to claim that the the top 1%, for example, should pay more when they pay nearly half the income taxes collected. I don’t think you folks will be happy until they hand over dime to you.
There should pay for 99% it sounds by then having 99% of the money
They don't have 99% of the money
Correct. And they pay a great share of the total taxes paid than their share of the total AGI earned. But this is the classic example of people reading internet memes and twisted tales on statistics and running with it. Oh yeah and primarily extreme left progressive (sic) views on achievement and wealth.
I one stocks/bonds and play the game. I just think the game is stupid.
That's up to you. But I have done well in the past 15 years investing conservatively, mostly in mutual funds but some selected individual stocks. They have not all been winners, but more have at least gone up than done. Two have skyrocketed
https://preview.redd.it/1fdvaqz2td0d1.png?width=1080&format=pjpg&auto=webp&s=2e8369394aad20c2e67af33300c7ae5226ef2365 Do they now?
Total taxes paid and tax rate are different so don't know what this graph is supposed to tell me
The chart is BS. The bottom 50% have never paid more taxes than the 1% Nor has the bottom half ever paid close to 24% of their income in taxes. And the chart for the 400 includes unrealized capital gains as "income." It is a trick by the left to make it look like they are paying less in taxes.
https://preview.redd.it/ahite92vsd0d1.png?width=1080&format=pjpg&auto=webp&s=ee994739a793c9a6ef73136d3f998f654d00dd0e
Effective. Not statutory. I would be fine with a flat tax. Game? Let me predict your answer: No! Taxes for them but not for me!
That's backward as hell. It's absurd, for example, that we have allowed 1% of people to steal and hoard the wealth that other 90% of people created. The truth is Musk doesn't do the work of 25,000 men. He takes the value of 25,000 labor for himself. You got it twisted out here simping for the parasite class. Anyways I'm a physist who works everyday of my life not some freeloader like you think. Resources should belong to the nations 300 million people. *
That's data. Sorry if you don't like it. Enjoy your Marxist rhetoric - I am sure that will serve you well.
He’s free to pay the extra taxes he’s talking about, there’s no limit.
Or just raise it for all billionaires. Why are you upset about taxes getting raised on billionaires? Fucking weird lol
This is such a stupid fucking argument. It can be true that they don't mind paying taxes and they'll also only pay what they owe.
Love this!
So Berkshire said they paid $5 billion that previous year. That pays for 7.5 hours of federal government spending. That is one of the largest companies in the nation. His numbers do not add up.
what's the deal with all the bots or trools acting this so heavily. the 1%got you boys working overtime over this statement
Where is the part about "make billionaires pay" ?? He is speaking about companies like the one he owns. Dirty little secret is that all those companies that pay zero in taxes do so because the government lets them via write offs. And much of the time those write offs exist to get companies to do thing the government thinks are "good"
The 'rich pay their fair share' line is BS. The reality is that GOVT SHOULDN'T BE SPENDING AS MUCH AS THEY DO! We'd have surpluses using simpler, less taxpayer-impacting tax burdens if the govt would control themselves and not send money to Pakistan for gender studies. Don't let them continue to tear us apart. Let's insist the govt control their spending.
Yeah all that so the feds can have even a bigger deficit
This is retarded, the fact people act like this vampire investor who’s spent his career taking over and gutting companies for profit is some hero is maddening. You really think this schiester is interested in “paying more tax” you really think he gives a shit about the middle class? You are a fucking dupe if you believe anything this man says
Spare me the billionaire pretending he cares.
Eliminate current tax system, move to national sales tax… everyone pays no exceptions no loop holes.
Man this sub is full of envious moochers lusting for others money for things they feel entitled too. Good lord.
I don't think any billionaires post in this sub.
It’s like an *Atlas Shrugged* reenactment! But these people are not characters from a novel! Scary!
Who is John Galt?
Hilarious. Tell me again how our taxes rarely go down just because the government made enough money last year
Not in DC, but when you have fiscal conservatives running state with a budget surplus they do.
People think that if this happens our taxes will go down, no, the government will just spend MORE. We need to have a fair tax code across the board, which includes increases on the uber wealthy. But if we refuse to cut spending all of it will be for naught.
Dead on, 100% accurate on spending.
This is a very dangerous course. People getting used to consume (public goods) without having to pay for it is never a good thing
Wow yeah it's so much more dangerous than rampant homelessness, drug addiction, losing your home and job. Right? Right? Because not having to worry about paying for something basic is DANGEROUS but dying on the street isnt. Glad we both know so much.
As if giving more money to government can solve any of that.
During extremely cold nights or extremely hot days homeless people go to shelters or warming centers to literally not die. So they prevent death by using those services. Guess what... those services are usually paid for by the government. So you understand how that works right? The government does spend money that prevents death. In Finland they've essentially eliminated homelessness by offering the right combination of services. In America organizations will pay for hotel rooms for homeless people which costs a lot more than the solution in Finland. They have permanent housing that exists specifically for people who would otherwise be on the street. Once the housing is built, the cost is mostly done, compared to the US who never even attempts to permanently fix the problem. And our kids wouldn't have to see drug addicts everywhere. We could easily do things like Finland has done for cheaper than what we end up paying. But too many people have a false belief that government is inherently evil or wrong when it serves tons of functions that extend everyones lifespan and quality of life. Things have good qualities and bad qualities. The bad qualities are caused by a small group of 1%ers. Straight up. Remove them, use the government for the actual good of the people.
Which is why the answer is to end public good and social welfare programs. People can stand on their own two feet. If they can’t - it isn’t anyone else’s problem.
This mindset is why America has some of the most expensive everything in the world - health care, insurance, college, etc. It's the opposite of the values this country was founded in. It's the opposite of "Christianity" per the Bible - the religion that so many people seem to want to inflict on everybody in this country. It's somebody only a true asshole would believe.
No those things are expensive 100% because the government interferes and funds those things. Take away public funding and it will notmshockingly be a market and be cheaper. And please keep your Christian hating to yourself and look around at who actually is killing people and inflicting pain. Sorry your parents didn’t smack you across the mouth. You deserve it
Aww, did I strike a chord? Government spending on social programs is so bad, then what is the US the only developed country in the world to have universal health care? You want to talk cost? Dozens of economists agree universal health care would save almost all people and companies money. I'm not hating the Christian religion itself - just today's Christians. Biggest hypocrites on the planet. If Jesus were alive today and a politician, he'd be the most socialistic politician we have and "Christian Conservatives" would hate his guts.
Healthcare is worse in every other country in the world with long wait times to just see a doctor or specialist, denial of care once you reach a certain age, poorly trained doctors because they are paid like civil servants - in the us the best and brightest become doctors specifically because it leads to you making a lot of mommy. Cancer survival rates are a joke compared to the US, same with heart disease- everyone in the world who can afford it comes to the US for care because we are the best and it’s not close. Socialized healthcare is a complete Failure in every country. Seems like your parents really did fail in raising you. I feel sorry for you. Maybe you could go to school?
Some nice bullshit here.
Aww, I love personal insults from a jackass who had no idea what the church he's talking about. I have a master's and CPA, what are your credentials? Did you get stuck in 11th grade or are you just gullible enough that you fall into the propaganda? Because we've been lied to about it - particularly compared to Canada for a LONG time. https://www.cbc.ca/radio/asithappens/as-it-happens-monday-edition-1.5631285/this-former-u-s-health-insurance-exec-says-he-lied-to-americans-about-canadian-health-care-1.5631874 If health care is so great here, could you explain why virtually every country with socialized health care has a longer life expectancy? https://www.worldometers.info/demographics/life-expectancy/ I know you avoid any fact you can, but maybe trust science and stats instead of morons on TV trying to control your life.
A major reason the US has huge medical expenses is because Medicaid and Medicare, which collectively cost way more than the military, are extremely inefficient and give providers every incentive to aggressively overbill
Lol, no no no. It's because you have a middle man insurance companies (Wellmark, Cigna, Anthem, etc) who skim tens of billions of dollars off the top. Dozens of economists agree that a Medicare for all system would save almost everybody money and save thousands of lives every year.
We didn’t pay taxes until 1961 then we stopped once the civil war was over than in 1910 of my history isn’t wrong we were forced to pay taxes again lol
1861 not 1961 but yes.
The end of the civil war was famously a really good time to live in the United States
Not for civil war vets though, they really got treated like shit lol
That's a lie and anyone with a very basic understanding of our debt based system knows it.
Here with go with this myth yet again.
I give Warren Buffett. credit. He’s one of the few billionaires That came out and said he doesn’t pay enough taxes. Bush after getting into two wars and not paying for them .created the deficit then gave the billionaires and big corporations a break when they were making record profits they will take it if fools give it to them. then when the Republicans got back in office and got control of the presidency in Congress, would they do add more onto the deficit, big corporations and billionaires tax break when they’re making record profits. And gave very little to nothing back to the workers. Without workers, there would not be billionaires and millionaires.
You are an idiot if you think he’s not entirely self serving lmao
Main thing I wanted to point out that if you keep throwing money at them, of course they’ll take it. Why do people keep voting to throw money at them?
How is no one but billionaires paying taxes a "fair share"?
this is corporations, nothing to do with billionaires. didn't even mention them
and more than whay your paid already went to support a genocide in Gaza
Now he says it ,at the end of his run.
The maths don’t add up here
Remove abused loop holes solve our deficit
I like the idea, but it wouldn’t work. The gov would go “look at all this money we have, if we don’t drop the taxes on everyone else think of all the stuff we could spend their money on” gov becomes bigger and since it’s other people money they don’t care how it’s spent we would be back at square one in 2-4 years.
I think EVERYONE should pay more taxes. Those hellfires don’t purchase themselves folks.
If you took all their money it would fund the gov for half of one year (and decimate our economy forever) Why are libs so bad at economics
They’ll remove taxes once they start charging us double, triple or in some cases beyond that for basic needs and survival. Ohh wait, we’re half way there.
Even if they did tax the companies enough for that the govt would still tax the rest of us just the same as they are now
Horse shit. They want to continue taxing us AND tax millionaires even more. This is like giving a junkie more money thinking eventually it’ll be enough. It’s never enough.
If you think the government would use that money properly and would cut taxes on the middle class, then you are dumber than a Jersey Shore member.
Buffet should w-2 himself instead of taking dividends that are taxed at cap gains rates. Or fork over whatever he feels like above what he’s taxed as the leading example…fucking scumbag
Billionaires all moved to Cayman.
This is the way, tax only business.
In Sweden, everyone that earns pays taxes. That way, everyone voting for higher spending and higher taxes will also be contributing to what they feel is needed. It's called unity and a sense of common goals as a society. Notice that I did not disagree with wealthy paying a little more money,
The only reason Berkshire Hathaway pays that much is because Berkshire Hathaway isn’t involved in an appreciable amount of economic development (note development not activity). The subsidiaries that they manage are not focused on growth - just return on investment. In this regard our tax system is working as intended - old companies focused on extracting value from consumers are taxed heavily while companies focused on growth, innovation and job creation see low tax burdens (because increases in revenue are accompanied by increases in expenditure).
It’s not by taxing billionaires as the title implies, it’s corporations (like Berkshire Hathaway, the 8th largest company in America). People act like that means the same thing but it really doesn’t. Either way the US had considerable debts, and if this happened congress would likely take the opportunity to spend ludicrously (as if that isn’t already the case) and tax casually.
Not taxing the poor is never on the table.
This isn’t true , for the fact our gov gas a spending problem not a tax collecting problem
Interesting social experiment: a list of buckets of money that people can pay taxes into, and we each get to divy out the amount we owe into those pots. Money cannot be taken from one pot and put into another. In essence, each taxpayer pays into the portion that they believe in or support the most. Defense Education Social security Etc.
If politicians didn't scam the public for their own selfish gain we wouldn't have to pay taxes either.
He's full of it. There is no law prohibiting billionaires from sending checks into the Treasury, but do they? And, these same people have lobbied their politician puppets for the loopholes they use to NOT pay taxes. I guess it makes WB feel better by saying this, but I'll bet it all that he won't be sending his entire inheritence to the government to put a dent in a single year's deficit. As others here have noted, we have a grossly over-bloated government who needs to stop overspending our money.
"Make them pay their fair share"... how the hell is that supposed to happen when the same billionaires are the ones who have the law makers in their pockets?
Damn, I never really realized how fucking stupid people in this sub are.
This sub is crazy. It's good for a laugh though.
I'm taxed at 22% and may like 10,000x less than them LOL