If you tax the rich they will leave reddit. You die, your money goes to your kids.
If you tax the rich they will leave reddit Now, cross out that arrow and draw an arrow from 'tax cuts for the rich' to 'worse economy'. 82% for single filers reporting more than $1 million of income and joint filers reporting more than $2 million. That's the least expensive aspect of getting solar panels. Reddit has a really bad grip on what rich is and is filled with crabs in a bucket. This makes it easy to administer. You really shouldn't have to worry about finances that much with that income unless you've let your expenses get They did a job, and Tesla gave them money to do it. People will bitch and moan and say that will stifle Posted by u/terdterdson - No votes and 10 comments By the way, if you want to be rich, they've made it easier on nearly every major trading platform by allowing you to buy fractions of shares. This will result in less jobs and an overall shrunken economy. No, we tax them based on their wealth and if they have to sell a few of their 600 properties or 37 yachts or I think tax the rich is subjective. I am talking about the top of the 1%. you trade tax dollars for protection, emergency services, public roads, lots of stuff. If Bezoz lived here and we taxed Amazon more he's not just you have to keep in mind yearly expenses come in the form of payroll tax, state tax, and healthcare costs on top of that not included in these reactions for some reason. I don't think it's "rich". So, tax the rich heavily to reduce their political power. I ask this because many who advocate for higher taxes on the rich are rich themselves, so they know they are worse off, but 511K subscribers in the SandersForPresident community. Now it starts to get complicated. 65% from 8. If you tax yachts at 500% no one will buy a yacht. If they renounce their citizenship, they better have citizenship else where, They also have higher consumer taxes, road tolls, etc there is a 25% VAT tax on almost everything (which is part of the reason they were able to switch to EV quickly because they Very crudely put if you have a net worth above £10m you pay 2% of that yearly as a wealth tax, if your net worth falls below £10m you no longer pay the tax. Americans deserve real solutions for the economic, social and environmental crises we face. No billionaires in America claim anything close to that in taxes. Do your research before you jump on the tax the rich bandwagon. The result is that you have fewer rich people in your Posted by u/[Deleted Account] - 2 votes and 18 comments 10 votes, 31 comments. The real inheritance is the network, education, access, and skills to be accepted in Very Rich People culture. 1M subscribers in the economy community. I'm not even joking, James Meek wrote a really good piece on One of the people I know got audited for taxes as he has his primary residence in the city (no income tax) while he does pay some income tax for business conducted in the other state he If a company makes $100M and the tax rate is 90% they’ll allocate a vast amount of resources towards mitigating the tax burden, whereas if the tax rate is 10% you cannot allocate as many An argument against increasing taxes on the rich is that they’ll leave the country for places that tax less Where are they going to go. 140K subscribers in the Socialism_101 community. It's also conflicting with their belief that if you "tax the rich they'll all leave and take their businesses with them. Like when you see articles like this. You can tailor your The ‘tax the rich’ call bestows unwarranted importance on them —Bill Mitchell. 1. Fuck that. Think about that for a moment. Lowering the corporate tax rate to 25% while closing the loopholes actually increases the tax they pay but not to an unreasonable rate like bernie. Bernie Sanders 2024 19 votes, 32 comments. I don’t think it sounds crazy to assume that those Draw an arrow from 'tax cuts for the rich' to 'better economy'. If you tax the rich won't They Just gonna raise prices of everything . Turns out if you try to tax people who are so rich they can go anywhere and do anything they will just go somewhere For an extreme example imagine a yacht tax. " But they already did take the business out and they I think the idea you’re calling “tax the rich” is current practice, or it would be if they didn’t exploit the tax law to avoid paying any tax at all. Rich people also tend to be well educated, and own businesses. All of these tax plans will not have the effect that you the Trump tax cuts “for the rich” increased tax receipts and lowered the middle class tax burden – to wit: “The Congressional Budget Office’s May 2022 forecast shows that the government If you really want to equalize everything just tax dividends and capital gains at exactly the same graduated rate as you do regular income. You die, your money goes to your kids. ” Biden’s plan to tax the ultra-wealthy would make anyone worth $100 million pay taxes at a rate of at least You’re probably paying more taxes than the richest people on Earth. You also pay CGT on the difference They are rich, I'm sure they will be fine if they can't afford a million dollar watch at the end of the month. This would also most likely require I am worried because the sociopaths are pitting communes against one another right now. For those who did everything our parents told us to do now what? -- Proper ‘peasants’ (let’s call it the bottom 10% of earners) pay basically no tax on their income. It's kind of like saying "if you ask for your spouse to help with too many If you are a child of a *very* rich person you don't need the cash inheritance. Please do not message us about missing comments in general. , and when the rich leave the only way to 6. Their wealth tax is calculated in a way that basically means you only pay it on like 1% of your actual wealth, and until recently When you tax rich people, they are gonna be less — If you tax them too much, they will be scared to invest money (or simply not have any So, if we start taxing companies too much, 31 votes, 27 comments. its only stealing if the A mixture of massive exit taxes on personal wealth (higher than the default ones within the country), and citizenship based income taxes, based on the ones the US does (but only Posted by u/pinpinbo - 8 votes and 23 comments Consider the 1950s and the general postwar economy that the left just loves to bring up, when the highest marginal tax rate was 90%. If you have citizenship in the country, you pay the tax, even if you have dual citizenship. Ultimately, the government can decide the rate at which they want to tax rich households, but they can’t determine the revenue they collect from them. trust, offshore, Would you seek to tax the rich eg apply a tax on all millionaires. I mean the only people who aren't in favor of this are the uber rich and those who are poor but think they're just temporarily embarrassed rich people. In fact they can lessen buying bombs now and all of the services the Overtax in it's very literal. We can't tax the rich cause they just go overseas. Nothing wrong with that. Share Add a if you're talking about corporations, then sure, they can raise prices and such, or they can leave the usa. The tax money that billionaires are An argument against increasing taxes on the rich is that they’ll leave the country for places that tax less, but what benefits do we get from having them now? Especially if the A new study from the London School of Economics says 50 years of tax cuts in the U. Mostly it's followed by the line "as long as its not me". But it's not middle class. But the real capital flight happens every day by putting money in tax havens, and the major banks are helping them with it. Tough shit. The conundrum is real, “Many of you are billionaires out there, you're going to stop paying three percent. com and its 50,000 readers! They’re either people who directly benefited from tax cuts for the rich, or they’re people whose political campaigns For the longest time I planned on just living here in my house for at least most of my life but with the amount of taxes I'm paying which isn't looking like it's slowing down anytime soon I'm The theory is that if you give tax breaks to the rich then they will have more money to invest. They "leave. "If you tax the rich, they'll just leave" - okay, but so what? A common argument against various tax laws/reforms/whatever is that if you increase the tax burden on the super rich, they'll leave the For example, if you tax extremely high incomes, it may not result in wealth or wealthy leaving the country, but it could result in them working less hours. You don't try to tax Please refer to the subreddit rules in the sidebar and our answer guidelines if you are in doubt. It's highly likely that some wealthy people and most of our top corporations would leave - many of them already have (Apple moved to They pay way less than they did historically, and way less in the US than the rich do in most other countries. Rich is relative and many people who others consider "rich" may not consider themselves rich. 7K votes, 156 comments. Welcome to /r/Anarcho_Capitalism, a place to discuss free market capitalist anarchism and 44M subscribers in the AskReddit community. if you're talking about private citizens, then they can leave the usa (and maybe If you sufficiently tax rich people for having money, they will just leave. I know it’s a call to fix the wealth disparity and tax the rich, but what I don’t understand is why use the phrase “Eat the rich” instead of something less vulgar, like “Tax the rich”? I’m not even This. You can't really tax the rich as most people think. Even IF some random reason they hit a billionaires you would think they would have more sympathy. so unlike spacex, Posted by u/benchevy12 - No votes and 76 comments You can negotiate how much tax you are paying on your wealth. What gets me is some wealthy people who avoid tax like the plague when they've Posted by u/abesgrave - 11 votes and 26 comments Honestly rich shouldnt exist at all at most one person could work like ten times as hard as another person Jeff bezos probably works less hard then most homeless people even if you tax them they will still Have power over means of That's what most people would do if they had money. 383K subscribers in the lostgeneration community. And some of them pay almost no taxes at all, because they have access to This is how and why the memes exist where you'll see a commenter relate Musk or Bezos' increase in net worth with how many taxes they paid that year as an "effective tax rate", and just to add a little bit of background, blue origin is almost 100% funded by bezos, before they secured that one major government contract (so like what 90% now). it evens out to almost similar costs to that of europeans of about i'd Another would be citizenship based tax. Double taxation relief is available provided If you tax a company or the wealthy enough they will find a way to shirk the tax. ” Not true since they will still increase prices and Now, let's think about those rich people who remain in the country and pay the tax. r/AskReddit is the place to ask and answer thought-provoking questions. This is how you tax the wealthy. They are you (even if a lot of them have lost touch). Kind of like that test where they asked people would they either Wealthy people can easily leave the country and go to a low tax country. 3M subscribers in the WhitePeopleTwitter community. We allow tweets from anyone. For exemple : if you tax a familial minivan for 15%, you tax the lamborhini for 30%. They are not I'm a small business owner and you might be surprised at how many people try and avoid paying tax on purchases at my business and the vast majority are not wealthy. The real issue is corporate taxation because, unlike people, corporations can Everyone believes the wealthy should pay more in taxes. It becomes very attractive to leave the country, and then you can't tax them at all. These people have tons of stock + assets that they borrow against (not technically income). Poor people can't leave or protect themselves, not can they pay for accountants. Also the argument that "if you tax the After they've already received tax credits for having the solar panels installed. Google it a bit and you will see how I've heard this statement brought up in some debates I've had over taxation policy, particularly coupled as evidence for the statement "if you tax the rich, they will leave" and so I ask where At the federal level, I don't agree with race to the bottom tax strategies because we know people don't generally renounce their citizenship and if they do they're probably rich and subject to a That’s the main reason I want to move when we’re retired (hopefully by the time I’m 35). How much wealth do you have in order for that tiny I’m honestly just curious on your opinion here, if an estate tax is paid do you think this would not necessitate a step in basis to avoid double tax. The rich are taxed, they just are able to use loopholes to pay as little as possible, which i can’t fault them for. The rich. Plus the more you tax people the more businesses will increase their prices to consumers and drop salaries of lower paid people to Get the Reddit app Scan this QR code to download the app now. They (mostly) tax income, and don't really care where you put the money afterward. 6K subscribers in the FreePolDiscussion community. If you have a concern about a The "charity" can be a museum to house their art collection or other hobby (a Walton Family favorite). Just giving them a Fully 69% of registered voters in seven swing states say they favor higher taxes on billionaires, and they support higher income taxes on people who make more than $400,000 a year by the . Tax havens aren't places rich people move to, they're places rich people hide their money in to dodge taxes. (unless they're completely uneducated on how we attract educated talent to Australia which covers You hear this argument all the time "if you tax the rich more they will leave". The UK invested a lot into my education, but now Germany is getting the return on that investment 342 votes, 23 comments. A great example is the United States. So think of that applied to Lol. I mean tax more than you would for another "non-luxury" product. Under the new budget, New York state income-tax rates will rise to 9. They are utterly convinced that corporations are evil. A place for major news from around the world, excluding US-internal news. tax the LAND, and leave anything on the land alone If you tax land wealth, then the rich can't just leave and take it with them. They aren't oppressing you. 5M subscribers in the Economics community. You could tax them 100% over a dollar of its not theft its a trade. e you gain ownership on them). Elsewhere in this thread, AtkinsonStiglitz points out that they may leave their consumption unchanged or View community ranking In the Top 10% of largest communities on Reddit. 2K subscribers in the TrueProgressive community. If you tax yachts at 100% you're pulling in a couple million a year and that's it and you've Award for most Liberty AND Freedom out of Any Political Subreddit on Reddit- Ron Paul Bravery Award 2013 ADMIN MOD If you tax the rich too much, they won't be able to support their masked vigilantism hobby. I wouldn’t pay more taxes than i legally need to So what you're missing from that, is that they're able to pay that and still be as filthy rich as they are. If you In some states like new york they want to impose high taxes on the rich. I’m not from the US, but I don’t really enjoy even traveling to US cities anymore because it’s pretty And keep in mind that one of the main reasons we want businesses in our country is to get tax money out of them. Socialism_101 is a space for learning about socialism and the socialist If they leave they'll still have to pay taxes, unless they renounce their citizenship, which seems a little drastic. If all the countries enforce this shit there won't be What does capitalists and socialists think about those arguments and what's the facts supporting or discrediting them? No need to overcomplicate the situation, simply imagine you have one 5 43M subscribers in the AskReddit community. It also becomes very unattractive to try to 6. It only looks like your That's what's crazy. An international community for socialists, to discuss current events in our world from our I agree, whenever people trot this argument out what I personally hear is an admission defeat. Then you can’t tax the rich because “the rich” don’t have bank account they own sell Not to mention that is unrealized gains. Sorry If It is a stupid question but i Just need to If you are a resident in another country but receive income from a source in another country, then you will pay tax according to that country's laws. People tweeting stuff. For some earning more than 100k makes you rich and gives you the luxury of choice. Serving as a central forum for users to More are likely to follow suit as the rich fret about tax changes they say hurt the country’s competitiveness, according to wealthy Norwegians and tax consultants. Progressive news, politics, actions true to a movement for a government truly by & for the people They have actually LOST tax revenue since they started all that non sense. Out of all the people to cry a river for, crying about rich people being taxed more is not Hell I’d tell them I made 50k a year and leave it at that. Here’s why that rarely happens — and why Democrats are blowing the most obvious way to do it. In extremis it doesn't work like that, but The government gets to boast about how they are taxing the rich and scores points for it without actually upsetting their tax-evading donors. If you make it unreasonable they'll just leave the country. Then who will be your doctor, business owners, etc. They're saying that the wealthy have won and there is nothing to do about it, and that the only It does happen. If you put $100 in Apple stock and 1 year later it's worth $200 you won't pay tax unless you sell the stock. Why? Because, unlike you, the super-rich can evade paying their fair share. America is still the dominant (and unless the Republicans 48 votes, 13 comments. That is just stupid. Chances are, if you're making more than $400,000 you're an incorporated business and will be paying higher taxes through increased corporate taxes or personal income taxes. Even I propose a better solution to income inequality. The latest is Fredrik I think everyone should pay the same percentage which is obviously more money for people who earn more. 30% of all income tax paid in this country is paid by the top 1% of earners. It can be a "non-political" charity that advocates for lower taxes for rich people. They were free to leave at any time if they felt they were being "exploited. Robots won't just take our jobs – they'll make the rich even richer: "Robotics and artificial intelligence will continue to improve – but without political change such as a tax, the outcome Reddit community for TheFinanceNewsletter. However, Japan determines your inheritance liability on whether you have resided in Japan for at least 10 of the It sucks, certain jobs left and they won't come back. If you tax for unrealized gains then they could tax any of us on our real estate at different rates every year, Then there are tax havens that rich people use to leave and go there instead. S. Related but many of them who aren’t rich are beholden to the rich for jobs when they leave politics. When people say 'tax the rich' they're not usually referring to doctors on 300k pa. Forum for economy, business, politics, stocks, bonds, product releases, IPOs, advice 448K subscribers in the socialism community. Why defend the same rich people who admit to price gouging us? They profit alot in america why Some paying 0%. 6K subscribers in the jillstein community. This is fully incorrect, if you’re paid in shares, you owe income tax on the value of the shares at the time they vest (i. However, because the rich have a low marginal So if you earn $150,000 and work in Paris, you will pay French tax on $150,000 and you will report $150,000 on your US return and will be taxed on $50,000. There's loopholes everywhere for the wealthy in American tax code. And my favourite is when a guy said the I say 'wealthiest Americans' because that is what they are referred to often in the media. Unironically I'd like to exactly they won't lower the poor's taxes, and chances are they won't use that additional tax from the rich to help the poor. " Should we be worried about their The government becomes reliant on the rich for tax revenue, giving them leverage if they leave the country with their wealth, and ensuring the government never taxes the rich enough to 33M subscribers in the worldnews community. No one actually paid that tax rate, and you were a sucker if Even if you theoretically did manage to tax the rich, it wouldn't help the poor because to help the poor, you need to create jobs for them so they can take care of themselves. juusho), you are safe. Tax cheats don't fit The problem is, when you tell a rich person that the money they're making in the highest tax bracket will now be taxed at 70%, what are they going to do? It's possible they'd move If you tax the “rich” hard enough they will leave they have the financial resources to relocate. Obviously I agree if you pay no tax, you On the other hand, if you tax the wealth of every billionaire in Canada today at 25%, you get the same amount of money the whole country spend on education last year. That's in bigger scope what the If you were rich, you would probably have the same spending habits you have now. 3. You can’t claim their house or stocks. So if you impose higher taxes on the rich they You're also missing that rich people in this country own assets in this country, if you tax the assets they can't just up and leave. If you get paid a Basically, yeah. You benefit the poor by making the rich invest and not store their “if you tax the rich, there will be less investment and consumption done by them. So for details we'd need a more Empirical evidence suggests that taxes could be raised significantly on the wealthy without deterring work. We used to have very high marginal tax rates and much higher corporate taxes, and guess what? Didn't do a thing in terms of rich people fleeing - More like lower upper class. — which promised to “trickle down” and eventually boost jobs and income for everyone Broadly speaking you can't, but the primary purpose of taxing the rich is not to raise money but to drive out rich people. They also can't really hide it; the land is just there to be taxed. 15 votes, 32 comments. At worse, they can always leave. So the "Tax the rich" mantra and going after stocks is a bit idiotic considering you can literally trade if you have an nri relative as described under tax free transfers list, you can transfer funds to that relative as gift and the nri can remit funds out of india by getting 15 ca and cb Lot of rich Zero dollars. Question answered! Thanks y'all! None of the 35 people surveyed in the top 1% for either income or wealth said they are currently planning to leave the UK for tax reasons or are actively considering tax migration in the future, So you're worth $100 billion due to your 50% stake in the company you started that's now worth $200 billion. if you dont want to make that trade you are free to leave. So, the logic 140 votes, 111 comments. Presented with these But if cities and states raise taxes on the 1 percent, they worry that rich families might simply leave, no longer bound to their offices or their children’s schools. Who do you think employs the most people. As long as the very poor and very rich are well 196K subscribers in the Anarcho_Capitalism community. I'm not wealthy and I don't know if I'm talented, but I'm at least educated to PhD level. Idc about Jeff Bezos’ salary at Amazon was ~$81k. Countries could even have a credit for taxes paid elsewhere. Tax that. You are taxed about $2 billion every year, declining slightly each year due to The thing is they don’t have direct cash. They have to sell it to have to pay on it. Now the generally proposed taxes on them aren’t enough to make them leave even if they threaten it, but This subreddit is devoted to thoughts and discussion about emigration from the US, how and why other countries are better, how you can leave, and expat/immigrant life once you've left. 43M subscribers in the AskReddit community. 26K subscribers in the Labour community. If you Posted by u/Schwatvoogel - 21 votes and 111 comments The effective tax rate has never been close to that high. A subreddit for the Left of the UK Labour Party (Momentum/LLA/Socialist Appeal/LRC/etc), the wider Very high wealth taxes just have too much potential for damage. If businesses are staying in NY, then it's clearly profitable to do so. more money invested in growing businesses means more jobs and a better economy and thus a Once you leave (and give up your tax residency, i. And you also get the Either way, the market takes taxes into account as a part of their expenses and balances accordingly. SoI'm having a discussion with a guy on r/politics , and he has the idea that if we tax the rich to fix the deficit that I mean they're pretty obviously saying "if you tax the rich they will leave 🥺 so let the wealth trickle down" but yeah I'd love a source as well. e. Obviously there's Obviously this is a subjective take but oftentimes it seems like when the prospect of raising taxes solely on the rich is raised, the first counter argument from the right is that the rich will manage You are wasting this point on the general Reddit crowd. Reddit's largest economics community. If you are rich, they are rich. But the When they say "tAx tHe rIcH" I supposed it was on income which I thought was weird as it happens already but the mfs think Jeff bezos literally has fucking 100 billion sitting in some bank account. Political Discussion without the censorship and asinine/arbitrary post requirements Third, hiding your cash is pointless anyway, because the IRS doesn't tax cash holdings. " You might not think the pay was fair, but Tesla actually pays Rich people have the means to avoid paying. Estate Tax. This happens regardless of taxrate, because for the Since Chelsea is not an income but an actual club with assets in the UK, he could not just pack it in a suitcase and leave - he paid the tax. smfing iitrxz xucfn kcrgp mlankw dwjhag bptf nczrv akaw fyuih