Warcodered Posted November 3, 2020 Share Posted November 3, 2020 Randomly found this on YouTube and thought it was funny. 1 Link to comment Share on other sites More sharing options...
WideNine Posted November 5, 2020 Share Posted November 5, 2020 On 10/28/2020 at 7:16 AM, Gary M said: Joe Biden said yesterday that he wants to makes sure everyone pay their fair share of taxes This table shows the top 10% pay 69% of all taxes. This doesn't seem fair to me, fair would be everyone contributes equally. Most politicians and other wealthy citizens have portfolios and they can live quite well off of capital gains. That tax tops out at 20% for long-term holdings 23% I think for short-term, regardless of how many zeros are attached to your capital gains income. The rest of the working stiffs on the tread mill have income tax which tops out at 37%. This is why Warren Buffet said that %-wise his admin was paying more in taxes than he was and proposed the Buffet rule forcing a minimum 30% on anyone earning over 1,000,000 dollars. If you are going to game the current system, it is wise to shift from income gained through honest labor and move to portfolios of investments. Or claim you are losing tons of money on your real estate holdings to offset your gains. Link to comment Share on other sites More sharing options...
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