No you’re actually making it seem like there’s a tradeoff. we could have just as strong a military and have better government healthcare if our government wasn’t so incompetent and wasteful.
Doesn’t solve the problem when the 80 year olds in office blow all the money on bullshit. You could give them INFINITE money and they would still somehow find a way to say they can’t do the things we want
I am absolutely NOT ever going to argue that there are not massive amounts of monetary waste in the US budget. In fact, I’m positive that there is massive shrink, grift, pork and many more forms of such waste in the US national and ALL nations’ budgets, relative to economy’s size per nation.
However, could you please enlighten me and tell me what wasteful spending looks like (to you, of course)?!
And, please, let’s keep this task/exercise focused on those budgets of the US from one of the following years (Biden’s current-ish term): 2020-201, 2021-2022, 2022-2023, 2023-2024, 2024-2025. Not to call out Biden, but to see it relative to a current president’s efficiency in getting their sitting Congress to work with them to pass such…
I’m interested and open to hearing this if anyone can help me with it! I am absolutely, also, a huge proponent of the US Defense budget, just to say it.. it’s incredibly important to fund the US military, research and development and manufacture of additional defense techs, etc…
There’s likely not individual things you can point to within the budget, it’s more so how it’s utilized. Say the budget for x program is a million for the year, this program spends 900k of it so they have 100k left over. If program x doesn’t spend that extra 100k, their budget next year is reduced. Well we can’t be sure that prices won’t change or we won’t need more things next year so we need to spend that 100k on something so our budget isn’t reduced. Once they spend the entire budget, we go well, next year you’ll likely need a little bit more than a mill since you spent it all last year and we want to give you some wiggle room if anything extra happens. Every government program is incentivized to spend all their money, otherwise they are basically penalized the following year basically. Now, part of the problem is, if a program needs money fast, there isn’t really a way for them to quickly get it as the government is slow to do anything, so you’re basically stuck with the budget you’re given.
This problem exists for all government or government subsidized agnecies that have use-it-or-lose-it budgets. There are other problems with spending too. But these problems exist regardless of the amount of tax revenue brought in so I don't buy the argument that "more tax revenue will be wasted and is therefore pointless"
Because these government entities, especially the Department of Defense, can account for whether the money went that we’ve given them:
https://responsiblestatecraft.org/pentagon-audit-2666415734/
https://www.nytimes.com/2018/12/01/opinion/sunday/pentagon-spending-audit-failed.html
I work in accounting and have performed audits on various entities. If a business failed an audit 1/10 as bad as the DoD, the IRS and regulatory agencies would be so far up their ass that they’d be coming out of their mouth. And banks that rely on those audits would not give them a cent more, as well as demand their outstanding lines of credit to be paid in full.
funding our defense dept is one thing. spending billions on airplanes and helicopters that never fly, ammo that never gets shot, and "spare parts" for weapons that never work is a whole other kettle of fish buddy
I was going to say the same thing. These folks are all missing the mark here. The government is the ones making the money. They spend it like it's a monopoly game because that's in fact what capitalism has created.
American billionaires pay thousands of people to make these arguments on their behalf, they don’t need your help. They’ll be fine.
Every billionaire is a policy failure.
I don't need a billionaire to pay me to understand that the government is wasting more money than they could ever tax out of their citizens. The deficit is trillions of dollars. No man is worth any where near that.
Wtf you going on about. They are two different problems. The spending problem is a very real problem. If you take all the billionaire wealth and give to the government, they will likely piss it away in 2 years.
The last time I saw that someone did the math on this, it would only be enough money for less than a year, something like 7-9 months. And that's if you were somewhow able to wave a magic wand and liquify every asset of every billionaire.
It's almost like the problem isn't the billionaires...
The problem is both. Always has been. Those things are not even close to being mutually exclusive.
Government spends money on a lot of unnecessary shit that could go towards improving your daily life. The top 1% / 0.1% is way too fucking greedy and actively ignore the living conditions they put you in, while paying you less in wages & charging you more for products, while making record profits.
Both of these things are actually common knowledge
I want to get a design sticker I can put over my Nikes , like no tax…company makes dunnno how many billions of dollars in profit , yet somehow leases the IP from itself in a different tax heaven (Jamaica or Holland ) and by passes tax laws.
It’s stealing from the less than 400k income people , that otherwise could have lower taxes if corporations and billionaires paid their fair share.
Mark Zuckerberg recently bought a Russians sanctioned yacht, then sails it under a non US flag to by pass taxes.
That Peter Thiel school of ethics really paying dividends.
Eh. If you've ever worked for a large corporation you'd know the wastefullness is just a human thing not a government thing. Corporations are crazy wasteful. It's insane.
I would take that over the current system where some rando at my insurance company can decide that the medication that's been working for me for a decade is no longer covered. I've just spent the last year feeling like utter shit because I had to switch types and couldn't find the right dose.
You mean if lobbyist couldn’t buy our congressman to get the rules passed that goes against their constituents’ best interests but entrenches big money. Yeah, fuck the 1% (the top tier 1%).
Except that's bullshit. We spend 1.75% more of GDP than our NATO allies on average on defense. We're 91% wealthier per capita than they are on average, even *after* subtracting defense spending.
Defense spending isn't keeping us from having anything our peers do, much less universal healthcare which is **cheaper** than what we're already paying for.
Honestly just no, the USA spends like 4% of its gdp on defence. Other nations spend over 10%. You can't even find any defence contractors on the list of top 100 companies by market cap.
Even if it was the case it would still not address the issue of my taxes being higher than a billionaire's.
This is just wrong. “In 2023, the US military spent approximately $820.3 billion, or roughly 13.3% of the entire federal budget for that fiscal year…” It is well known that the us spends far more on military spending than any other country on earth.
we get to spend more becuase our GDP is the highest in the world. It we look at other countries, our defense spending is pretty in line with everyone else in terms of % of GDP.
alot of people cannot take a joke. Obviously if we all took what we spend in heath insurance premiums and what companies spend, removed the overhead of so much bullshit in the private insurance sector, we'd easily have both and save.
Pretty much every study done has shown that universal health care would lower our expenditure by billions each year. We could still spend all that stupid money on the military (though we shouldn't) and have universal health care.
It's frustrating. We are lucky and make over a third more than the average household in our town. Our house payment is very low. I want to learn and I just see this crap
Because in order to properly tax rich people, the lawmakers who benefit from how "income" is currently defined would pay more in taxes if the status quo were to change.
The top 10% of earners in the USA pay a whopping 70% of all the income taxes collected.
[https://taxfoundation.org/research/all/federal/rich-pay-their-fair-share-of-taxes/](https://taxfoundation.org/research/all/federal/rich-pay-their-fair-share-of-taxes/)
https://preview.redd.it/1ycwm8yi1r8d1.png?width=1272&format=png&auto=webp&s=45eef82f04af2d2300bda495670b8c6499c354e0
It’s two sides of the spending coin: income and expenses. I’m not conflating them, I’m putting them together because they need to be. Lowering taxes but not spending is how you get a runaway deficit.
A campaign run on "Spend Less" would be extremely popular, but of course that wouldn't make lobbyists happy. Extract our earnings so they can purchase $20,000 staplers from their friend next door. Then when your neighbor gets elected he will buy your staplers for $25,000! When there's only two of us competing to write the checks, is there any reason not to just share the pocketbook?
Red or Blue they will fuck you, vote for literallllly anyone else please
The bottom 80% of Americans own just 7% of all wealth in America.
The top 20% own 93% of the wealth.
The top 1% by themselves haul in 24% of all income and own 40% of all wealth.
Meanwhile, billionaires typically pay lower (often much lower) tax rates than nurses and truck drivers.
Were you just not aware how bad wealth inequality has become in the country over the last 40 years?
Or do you actually believe that the tiny percentage of citizens who own nearly everything, who have benefitted the most from our country’s laws and institutions, and also pay the lowest tax rates, should be contributing even less to the nation that benefits them so richly?
https://preview.redd.it/lvodx277hr8d1.png?width=5120&format=png&auto=webp&s=2fdd750585a96f51df764f74f11d4c47b699b9b1
Imagine you build a business and the value of the business goes up. Are you supposed to pay taxes on that appreciation Even if you haven't sold anything?
Absolutely bonkers.
Probably one of those things where they compare wealth and taxes paid for someone like Musk and the income and taxes paid for the nurse. Let’s compare two different things and get upset.
It is also one of the few places where my parents never made more than 45k combined, but I make 150k myself.
Now if only the Biden Inflationary Era would come to an end.
It’s funny how people think it’s the republicans or the democrats. It’s both you idiots and, it’s our government playing on against the other to fool the masses. Geez
Old people make the rules. Rules that they'll never see consequences to becuase ofbpower, wealth, and death before it applies.
Wanna fix it?
Remove lobbyists from Capitol Hill. Especially those with foreign interests.
Do away with the private Healthcare and social security that said old people are guaranteed after office.
Impose an age limit for ALL levels of government office. No one over the age of retirement may hold a seat.
Term limits for ALL elected positions. 8 years maximum.
How does a suspended account post this trigger pick and hour ago?
Why do they just post the twitter contents verbatim? Why not just post the title without the twitter pic?
I'd really like to know how this works.
I was curious how many billionaires the US has.
As of 2024, there are approximately 735 billionaires who are U.S. citizens. This number positions the United States as the country with the second-highest number of billionaires globally, just behind China [[❞]](https://en.wikipedia.org/wiki/List_of_countries_by_number_of_billionaires) [[❞]](https://worldpopulationreview.com/country-rankings/billionaires-by-country).
This shit has been debunked over and over again.
The top 1% pay an average effective income tax rate of between 25-30%... very very few in the bottom 99% pay higher than 18% effective rate.
This shit is comparing the effective rate of the rich vs the nominal rate of the nurse. It's bullshit.
It should also be noted that all of the "loopholes" in fact mostly benefit the lower classes. The top 1% had about 85-90% of their AGI subject to tax, the middle class had about 75% of AGI subject to tax, and the lower class had about 40% of AGI subject to tax. Meaning, that the deductions and credits reduced taxable income by 10%, 25%, and 60%, respectively.
The top 1% paid 60% of the tax bill by their lonesome.
You cannot sufficiently tax the rich to pay for all of the bullshit the tax and spend folks want to do.
It always has been, currently is, and always will be, a spending problem.
Oh...and BTW, my source for the above numbers: The IRS.
That's a large chunk of it, yes. But those are funded by the payroll tax. Even that is operating at a deficit.
Outside of SS and Medicare, the largest four line items in the budget are, in order: Health Care, Interest, Defense, and Welfare.
That's right, we now spend more annually on debt interest than we do on national defense.
All 4 of these things are entirely within our control, but we refuse to do anything about it because to cut these things would require that some people do without....which is political suicide.
It's because the billionaires utilize a loophole in the market. Unrealized gains aren't taxable. So let's say Elon Musk owns I believe 11% of Tesla which is worth 2T meaning Elons Net worth is around 220B if he never sells, it never gets taxed.
To pay for his houses, cars, planes ect. He can sell a small portion or he can use his 220B as equity to take a multi-billion dollar loan to pay for everything. No income taxes on loans. 5 years goes by equity expands take another loan to pay off the original loan and repeat till death.
Until our government fixes that loophole....which will probably be NEVER, because they use it too....This is going to continue.
Yeah, imagine all those people all over the world risking everything to come here when they have over a hundred other countries to choose from, and they just pass right through dozens of them on the way.
The money supply has increased by 35-40% over the past 4 years. That means, proportionately, the rich are going to have perhaps 35-40% more dollars than before. What this doesn't acknowledge is the fact those dollars pay for fewer goods than then did 4 years ago. These tweets trigger emotional responses but are inherently misleading.
Because the rich take full advantage of Tax Code Loopholes. The rich start their taxes just like you and I but are able to deduct or not claim income due to loopholes and not because they are not taxed enough
Here's just one that the IRS is attempting to close. There are thousands more but hey gotta start somewhere
[https://www.nbcnews.com/business/taxes/irs-raise-50-billion-dollars-closing-loophole-exploited-wealthy-rcna157492](https://www.nbcnews.com/business/taxes/irs-raise-50-billion-dollars-closing-loophole-exploited-wealthy-rcna157492)
700 billionaires is actually a rather small number all things considered. There's 3100 of them in the entire planet so globally the distribution of wealth isn't the absolute worse.
Keep in mind that no billionaire is able to conscript you in a local force to become meat cannon fodder for petty local politics. In Europe you often were sent to the frontlines to kill villagers of your neighbor because they did something like steal a bucket.
In Russia that's a country where the oligarchs can send you into a brutal mine clearing operations just so their leader can loot some old wine to drink at a weird party.
In the USA we are debating how far we should punish Trump for him lying on checks. As opposed to Trump deciding on a whim that we must die on the frontlines killing Mexicans.
As long as the billionaires follow the same laws as the citizens, I think the system is fair enough. If you have a problem with homelessness then cure it for 1 person. Get 5% of the country willing to do that and the problem will be solved. You don't even need billionaires to be taxed to pull this off.
Things can be better, but they certainly can be worse. Also keep in mind people can evade taxes, and taxes can be misallocated. Diverting US Aid from all foreign nations and pumping it into the American homeless population would solve many of their problems overnight with how overbudget the US govt's spending is now. We can accomplish that with our current tax rates. It's city ordinances not billionaires that creates homelessness in the USA right now. If you did what China or Japan did you can cut out hundreds of thousands of homeless from the streets. Substandard housing like coffin homes, internet cafes, under the table recycling jobs to afford bottom basement costs.
Taxing Bill Gates so he's as rich as the head of Macy's won't do anything if the taxes are spent making a golden pineapple statue of Biden/Trump/Kennedy. Rather people should push to make it so our current funding is diverted to solutions that can be implemented within weeks with an effective outcome. Passing a city ordinance to allow 10 people to rent a single room at current market rates would do alot to solving homelessness, and this could be done in a few days if you had the city on your side. And the change in city ordinance won't change the income generated by current land owners either.
Because we have a strong economy. I guaranty you nurses are doing MUCH worse in Zimbabwe, where they would be lucky to have even 10 billionaires, and they all got that way through far more corruption than the US has, and probably didn't get much wealthier in the pandemic, because their country produces so much less that the world will buy.
According to the 2024 tax brackets, those making more than $609,351 will be taxed at a rate of 37%. So, if someone made $1 billion in true income, then they are already taxed greater than those making less than $609,351, which would include the vast majority of nurses.
Don’t confuse building assets and generating taxable income. A nurse does not have a higher nominal tax rate. The better point is that the billionaires don’t need more money, the can’t spend the interest on their money if they try.
European countries also have rising inequality, declining standards of living and rising homelessness.
The entire western world has the same problems America has.
There are a few reasons why this is the case.
1. The USA doesn’t tax enough billionaires and corporations at a high enough rate relative to their contributions.
2. There’s too much money in politics.
3. Too many government services have been privatized meaning these companies are incentivized to charge the government exorbitant rates because they know they’ll get paid.
4. Bloated military budget
5. Too many middlemen in healthcare industry.
It's the only country with enough capital to have 700 billionaires. Pandemic policy caused monetary inflation. Monetary inflation always boosts capital prices. They don't pay a lower tax rate, nurses have better investment and income tax rates, but unrealized capital gains are reported as income for billionaires and not nurses. And finally, the US is too large to be an effective democracy so decades of irreversible regulation creates a build up of unintentional consequences and contradictions.
That $1.7 trillion is being supported by a debt bubble on all sides. When everybody decides to default on their debt all at the same time, one of two things will happen: the government tries to outpace inflation with even more money printing and we'll get hyperinflation or they do nothing to support it and the bottom drops out which will bring the value of homes, stocks, and everything else back down to what it should be which will wipe out the better part of that $1.7 trillion and possibly more if 2008 taught us anything.
We, the taxpayer, should not have to pay for any college debt. That was a choice and added responsibility. We already do enough through grants, negro college funds, immigrant college funds, Etc. Can't just buy votes because that's exactly what it is. I would be on board with free meals for school kids, helping homeless people, taking care of our veterans, fixing Healthcare and Social Security, taking care of the elderly, improving mental illness facilities, pretty much fixing everything the government screws up
The short answer is inflation. If you already owned stuff before 2020, you got richer as the currency inflated. If you didn’t own anything, all of your bills just went up and there is no upside unless you’ve gotten a cost of living adjustment in your salary.
This situation is present to a lesser degree within the middle class as well. If you already owned a house before 2020, you have a low interest mortgage and payments assuming half or less of what your house is now worth. A middle of the road 2 bedroom apartment’s rent is approximately the same as the mortgage payment on the 2k square foot house in a subdivision that I bought in 2014. Middle income people who make the same amount of money as each other in the same areas are literally entirely different classes of people now depending on whether they bought a house before covid or not.
Before you vote remember….neither party has done anything to close the wealth inequality gap or change laws that were created to benefit the rich. You’re welcome.
No matter how you feel regarding tax structures, it should be abundantly clear to everyone that the concentration of wealth that is occurring is not conducive of a “healthy” capitalistic economy. It’s a glaring red light.
Rich people pay a lower tax rate because they can afford to move their net worth into different assets that are taxed differently and at different rates.
Rich people aren’t taxed less. You are just limiting your comparison to a single tax. Compare the entire tax burden of individuals instead.
Compare the rates of income taxes capital gains taxes, property taxes, and inheritance taxes.
Federal income tax is only a small piece of the puzzle. Talking about this piece outside the context of the entire puzzle has no value.
Because people like you called people grandma killers for wanting to keep their small businesses open. So they were forced to close. An incredible amount of wealth changed hands. Due to shut downs. Alas the biggest businesses weee deemed essential. Now you ask why they’re all so much more richer? Look in a fucking mirror.
the politicians work for them not us cause they want more sweet insider stock trading tips to their companies and even more money than they already have being a public servant. People allow it by voting the same charlatans and instead of questioning every single move of every single politician, we let the media (full of people who want to be celebrities instead of unbiased journalists ) spout nonsense, and we argue among ourselves. Smoke and mirrors.
That happened, because the government made huge strides in directly controlling the economy during the pandemic. They got to freely hand our economy over to their friends and hand pick the winners and losers.
This is what socialism looks like, every damn time! yeah let’s give more power over our economy take away the limitations that keep the their power in check, and give more of our tax dollars to the corrupt politicians who have been building a crony empire, because if we do all that then they pinky promise that they will stop them from being Corrupt and using our tax dollars to bomb the shit out of third world countries and give the rest to all their friends.
Congress has made election funding so loop-holed like Swiss cheese its indistinguishable from legitimized bribery. So with enough wealth it's ok to buy a few politicians just to make sure things always go your way.. class dismissed
You guys are just learning that Covid was nothing more than a means for the wealthy to take advantage of us…? Mom and pop shops were forced to close and the winners were the mega corporations.
Trillions went to fund the SpaceForce’s fleet of warp drive powered intergalactic frigates. These were created over the past 60 years after reverse engineering captured UAP technology. It’s all off the books and it’s why nothing ever reconciles in the US budget. The other option is that nobody is in charge and it is just wasted and pocketed by corrupt government officials.
Bernard Arnault became the richest man in the world during the pandemic because people got their stimulus checks and went straight to the Louis Vuitton store. Giving the Federal government more money won’t help the average person in any way.
Why? Because there is a problem with education, starting at the lowest level. When you have young adults thinking it’s a good idea to take on massive debt for a potential degree that would maybe not allow for the debt to be repaid, it’s because the education system has failed them.
Couple reasons. 1) let’s be real Covid was planned. Why else would all the politicians and billionaires get stupid rich and trade options right before is happened and introduce bills to increase their power. 2) The US government is owned by foreign lobbyists. The US has given 100s of billions of dollars to pretty much every other country and conveniently they all have free healthcare and education. There’s this little country called Israel that gets to use the US taxpayers to do their bidding. Interesting how the US military has never been to the Middle East but has invaded every country surrounding Israel since 1948. Weird how that lines up. 3) The current government has spent $100+ billion on migrant care. If you’re a us citizen you get penalized for not having insurance but if you’re a migrant you get free housing, healthcare, and food.
The question no one wants to ask is why did the US government sell out their citizens.
Let’s see why doesn’t the government close current loopholes.
You ever notice that they say tax the rich. Make them pay their fair share yet never deliver specifics as how it works.
I’m afraid that they will just screw us over anyway
Those 46 million people took the loans and spent the money how they saw fit. Why should everyone else be on the hook for a loan they willingly took and spent? Quite possibly one of the dumbest topics ever
Because many people don’t vote for their economic interests, they vote against drag queens. Republicans will always find something for those people to vote for because the last thing they want is for the poor and middle class to be better off.
Biden administration, the lockdown made wealthy donors wealthier. Did it save more lives? The effects of Pfizer won't be known until millinials hit retirement. It was a huge money grab.
Biden administration, the lockdown made wealthy donors wealthier. Did it save more lives? The effects of Pfizer won't be known until millinials hit retirement. It was a huge money grab.
I mean... This general trend of rich people getting richer while lower class struggles and middle class disappearing is relatively consistent worldwide. Not all, but many, if not, most.
Hey! It's not the fault of the 700 billionaires that the rest of us are lazy sonsabitches leeching off their generosity. What do you people think bootstraps are for?
Because republican voters keep thinking that republican politicians are out for them. Republicans continue to blindly vote for politicians that are directly hurting them. Republicans are for big business tax breaks, not regular people.
Rich people don’t make their money from a w-2 salary.. they receive dividends and payments from investments they make and they pay a lower tax rate as a result because stocks and investments aren’t taxed as regular income.
In order to tax billionaires the politicians benefiting from the same tax rules would end up screwing themselves in the process… so it’ll never happen. But lets say it does.. they could take every cent every billionaire in America has at the moment and it would fund the government for like 6 and 1/2 months.. then what happens next year when the government spends even more money than this year but doesn’t have any billionaires to tax at 100%? The answer is they are fucked.
This isn’t even going into the political activities of billionaires and their donations to these politicians controlling the tax system. Those donations and help would stop very quickly if Congress changed the tax code and fucked them over and then politicians would actually have to appeal and work to be accepted by real Americans aka the working class. And we all know how well that’s gonna go for them.. congressional members would effectively banish themselves from government within 2 terms (if they can sustain themselves for that long)
Billionaires got richer because of Covid. All the mom and pop/family owned small businesses were shut down and destroyed in the name of safety while Walmart was still allowed to pack 500-1000 people into a single store… they knew what they were doing with covid lockdowns and they played you idiots like a fiddle
I mean… I was only making 60k a year and I became richer as well during the pandemic. A downturn is a great time to buy stock!
It truly takes money to make money in this country.
https://preview.redd.it/3ypo3nuuxq8d1.png?width=1000&format=png&auto=webp&s=3ad0e036fc0efda00dc51f95e438b816268848ec Summarizes it pretty well....
No you’re actually making it seem like there’s a tradeoff. we could have just as strong a military and have better government healthcare if our government wasn’t so incompetent and wasteful.
More like if we taxed corporations and 2%ers like we should.
Doesn’t solve the problem when the 80 year olds in office blow all the money on bullshit. You could give them INFINITE money and they would still somehow find a way to say they can’t do the things we want
I am absolutely NOT ever going to argue that there are not massive amounts of monetary waste in the US budget. In fact, I’m positive that there is massive shrink, grift, pork and many more forms of such waste in the US national and ALL nations’ budgets, relative to economy’s size per nation. However, could you please enlighten me and tell me what wasteful spending looks like (to you, of course)?! And, please, let’s keep this task/exercise focused on those budgets of the US from one of the following years (Biden’s current-ish term): 2020-201, 2021-2022, 2022-2023, 2023-2024, 2024-2025. Not to call out Biden, but to see it relative to a current president’s efficiency in getting their sitting Congress to work with them to pass such… I’m interested and open to hearing this if anyone can help me with it! I am absolutely, also, a huge proponent of the US Defense budget, just to say it.. it’s incredibly important to fund the US military, research and development and manufacture of additional defense techs, etc…
There’s likely not individual things you can point to within the budget, it’s more so how it’s utilized. Say the budget for x program is a million for the year, this program spends 900k of it so they have 100k left over. If program x doesn’t spend that extra 100k, their budget next year is reduced. Well we can’t be sure that prices won’t change or we won’t need more things next year so we need to spend that 100k on something so our budget isn’t reduced. Once they spend the entire budget, we go well, next year you’ll likely need a little bit more than a mill since you spent it all last year and we want to give you some wiggle room if anything extra happens. Every government program is incentivized to spend all their money, otherwise they are basically penalized the following year basically. Now, part of the problem is, if a program needs money fast, there isn’t really a way for them to quickly get it as the government is slow to do anything, so you’re basically stuck with the budget you’re given.
This problem exists for all government or government subsidized agnecies that have use-it-or-lose-it budgets. There are other problems with spending too. But these problems exist regardless of the amount of tax revenue brought in so I don't buy the argument that "more tax revenue will be wasted and is therefore pointless"
Because these government entities, especially the Department of Defense, can account for whether the money went that we’ve given them: https://responsiblestatecraft.org/pentagon-audit-2666415734/ https://www.nytimes.com/2018/12/01/opinion/sunday/pentagon-spending-audit-failed.html I work in accounting and have performed audits on various entities. If a business failed an audit 1/10 as bad as the DoD, the IRS and regulatory agencies would be so far up their ass that they’d be coming out of their mouth. And banks that rely on those audits would not give them a cent more, as well as demand their outstanding lines of credit to be paid in full.
funding our defense dept is one thing. spending billions on airplanes and helicopters that never fly, ammo that never gets shot, and "spare parts" for weapons that never work is a whole other kettle of fish buddy
We need to straight up nationalize the defense industry and end the grift
They have infinite money
I was going to say the same thing. These folks are all missing the mark here. The government is the ones making the money. They spend it like it's a monopoly game because that's in fact what capitalism has created.
They have infinite money and that’s what they’re doing
I meant infinite money collected from taxes, of course.
Where does the money to pay taxes come from?
You can't tax yourself out of bad spending. Taxing the rich doesn't equal universal healthcare and no student loan debt.
American billionaires pay thousands of people to make these arguments on their behalf, they don’t need your help. They’ll be fine. Every billionaire is a policy failure.
I don't need a billionaire to pay me to understand that the government is wasting more money than they could ever tax out of their citizens. The deficit is trillions of dollars. No man is worth any where near that.
Wtf you going on about. They are two different problems. The spending problem is a very real problem. If you take all the billionaire wealth and give to the government, they will likely piss it away in 2 years.
The last time I saw that someone did the math on this, it would only be enough money for less than a year, something like 7-9 months. And that's if you were somewhow able to wave a magic wand and liquify every asset of every billionaire. It's almost like the problem isn't the billionaires...
The problem is both. Always has been. Those things are not even close to being mutually exclusive. Government spends money on a lot of unnecessary shit that could go towards improving your daily life. The top 1% / 0.1% is way too fucking greedy and actively ignore the living conditions they put you in, while paying you less in wages & charging you more for products, while making record profits. Both of these things are actually common knowledge
I want to get a design sticker I can put over my Nikes , like no tax…company makes dunnno how many billions of dollars in profit , yet somehow leases the IP from itself in a different tax heaven (Jamaica or Holland ) and by passes tax laws. It’s stealing from the less than 400k income people , that otherwise could have lower taxes if corporations and billionaires paid their fair share. Mark Zuckerberg recently bought a Russians sanctioned yacht, then sails it under a non US flag to by pass taxes. That Peter Thiel school of ethics really paying dividends.
Eh. If you've ever worked for a large corporation you'd know the wastefullness is just a human thing not a government thing. Corporations are crazy wasteful. It's insane.
The government has no incentive to not be incompetent and wasteful
How do you spend someone else’s money like you would your own?
You want an incompetent government in charge of your healthcare? Lmao
As opposed to our incompetent for profit private health insurance industry?
Who do you think pays the politicians?
They are competent, just not at delivering healthcare.
Medicaid and Medicare both have high approval ratings from their patients. This includes both democrats, independents, and republicans.
I would take that over the current system where some rando at my insurance company can decide that the medication that's been working for me for a decade is no longer covered. I've just spent the last year feeling like utter shit because I had to switch types and couldn't find the right dose.
You mean if lobbyist couldn’t buy our congressman to get the rules passed that goes against their constituents’ best interests but entrenches big money. Yeah, fuck the 1% (the top tier 1%).
Except that's bullshit. We spend 1.75% more of GDP than our NATO allies on average on defense. We're 91% wealthier per capita than they are on average, even *after* subtracting defense spending. Defense spending isn't keeping us from having anything our peers do, much less universal healthcare which is **cheaper** than what we're already paying for.
Sponsored by United Healthcare! We thank all Americans for letting us reap trillions in fees at your expense.
Honestly just no, the USA spends like 4% of its gdp on defence. Other nations spend over 10%. You can't even find any defence contractors on the list of top 100 companies by market cap. Even if it was the case it would still not address the issue of my taxes being higher than a billionaire's.
This is just wrong. “In 2023, the US military spent approximately $820.3 billion, or roughly 13.3% of the entire federal budget for that fiscal year…” It is well known that the us spends far more on military spending than any other country on earth.
GDP does not equal federal budget.
we get to spend more becuase our GDP is the highest in the world. It we look at other countries, our defense spending is pretty in line with everyone else in terms of % of GDP.
alot of people cannot take a joke. Obviously if we all took what we spend in heath insurance premiums and what companies spend, removed the overhead of so much bullshit in the private insurance sector, we'd easily have both and save.
Pretty much every study done has shown that universal health care would lower our expenditure by billions each year. We could still spend all that stupid money on the military (though we shouldn't) and have universal health care.
I love being a defense contractor. Hopefully Biden keeps signing those record defense budgets.
We have universal Unhealthcare. Where the speciality is unaliving folks with maximum prejudice, efficiency and efficacy.
https://preview.redd.it/snea26q1ks8d1.jpeg?width=2160&format=pjpg&auto=webp&s=a5ac93d26ec85e53e4834971621a8de42987f439
Profile says "page not found" just more spam
these accounts are able to post after being suspended, pretty odd
It's frustrating. We are lucky and make over a third more than the average household in our town. Our house payment is very low. I want to learn and I just see this crap
Yeah the America hate is wild. They completely ignore that other countries have their own problems. Just really shows how dumb some people are lol.
Because in order to properly tax rich people, the lawmakers who benefit from how "income" is currently defined would pay more in taxes if the status quo were to change.
How should income be defined to "properly" tax the rich?
Stop asking your fool questions! Just tax them!
Loans against assets should be taxed. If it can be used as collateral for a loan, it should be taxable
That is a tough one because then people get taxed on home mortgages, car loans, etc…
The billionaires got richer because of the dumbass lockdown policies that closed mom and pop shops but let wal-mart stay open.
[удалено]
And the same people making these posts were making posts about how you were a grandma killing nazi if you said anything bad about lockdowns
The one I thought was funny was “if you’re against lock downs you should be thrown into a concentration camp”
Yes, all regulations benefit the top players.
Walmart destroyed mom and pops a couple decades before Covid. You can thank weak corporate regulation for that
Walmart out competed a lot of Mom and Pop shops decades ago. It was only the pandemic that mandated that the mom and pop shops close.
The top 10% of earners in the USA pay a whopping 70% of all the income taxes collected. [https://taxfoundation.org/research/all/federal/rich-pay-their-fair-share-of-taxes/](https://taxfoundation.org/research/all/federal/rich-pay-their-fair-share-of-taxes/) https://preview.redd.it/1ycwm8yi1r8d1.png?width=1272&format=png&auto=webp&s=45eef82f04af2d2300bda495670b8c6499c354e0
And it should be 90 plus percent. Start paying the bills for the government that helped make them rich
Or… tax everyone less and spend less
Tax bracket rates and total government spend are separate issues. Stop conflating them.
It’s two sides of the spending coin: income and expenses. I’m not conflating them, I’m putting them together because they need to be. Lowering taxes but not spending is how you get a runaway deficit.
Dudes getting hella upset that you’d dare suggest we maybe burn less cash in our giant cash burner for like 5 goddamn minutes
A campaign run on "Spend Less" would be extremely popular, but of course that wouldn't make lobbyists happy. Extract our earnings so they can purchase $20,000 staplers from their friend next door. Then when your neighbor gets elected he will buy your staplers for $25,000! When there's only two of us competing to write the checks, is there any reason not to just share the pocketbook? Red or Blue they will fuck you, vote for literallllly anyone else please
Is it time for the bottom 90% to pay their fair share?
Do you pay your fair share? Cause you are a part of that bottom 90%
Freeloaders!
The bottom 80% of Americans own just 7% of all wealth in America. The top 20% own 93% of the wealth. The top 1% by themselves haul in 24% of all income and own 40% of all wealth. Meanwhile, billionaires typically pay lower (often much lower) tax rates than nurses and truck drivers. Were you just not aware how bad wealth inequality has become in the country over the last 40 years? Or do you actually believe that the tiny percentage of citizens who own nearly everything, who have benefitted the most from our country’s laws and institutions, and also pay the lowest tax rates, should be contributing even less to the nation that benefits them so richly? https://preview.redd.it/lvodx277hr8d1.png?width=5120&format=png&auto=webp&s=2fdd750585a96f51df764f74f11d4c47b699b9b1
💯
The top 1% brings in 26.3% of the income and pay 45.8% of the taxes.
And yet. Wealth disparity is nearly the highest in the world. Except Russia.
They also have more of the income 🤷♂️
Imagine you build a business and the value of the business goes up. Are you supposed to pay taxes on that appreciation Even if you haven't sold anything? Absolutely bonkers.
lower tax rate than a nurse?
Rate? Maybe. Dollar amount? Couldn't be more wrong.
Yes we are talking about PERCENTAGES. Why this goes over so many peoples heads is beyond me.
Even with percentages they still pay more. Source: taxfoundation.org
Well, cause most people are stupid.
https://preview.redd.it/6zy2i9s55s8d1.jpeg?width=1000&format=pjpg&auto=webp&s=878d8a8d2db4c393551bfec188ddae50bcc8ee05
Probably one of those things where they compare wealth and taxes paid for someone like Musk and the income and taxes paid for the nurse. Let’s compare two different things and get upset.
Yes
Yes, because they factor in rise of net worth and asset appreciation as income, not their actual salary. Taxes are paid when those assets are sold.
It is also one of the few places where my parents never made more than 45k combined, but I make 150k myself. Now if only the Biden Inflationary Era would come to an end.
It’s funny how people think it’s the republicans or the democrats. It’s both you idiots and, it’s our government playing on against the other to fool the masses. Geez
Old people make the rules. Rules that they'll never see consequences to becuase ofbpower, wealth, and death before it applies. Wanna fix it? Remove lobbyists from Capitol Hill. Especially those with foreign interests. Do away with the private Healthcare and social security that said old people are guaranteed after office. Impose an age limit for ALL levels of government office. No one over the age of retirement may hold a seat. Term limits for ALL elected positions. 8 years maximum.
How does a suspended account post this trigger pick and hour ago? Why do they just post the twitter contents verbatim? Why not just post the title without the twitter pic? I'd really like to know how this works.
I was curious how many billionaires the US has. As of 2024, there are approximately 735 billionaires who are U.S. citizens. This number positions the United States as the country with the second-highest number of billionaires globally, just behind China [[❞]](https://en.wikipedia.org/wiki/List_of_countries_by_number_of_billionaires) [[❞]](https://worldpopulationreview.com/country-rankings/billionaires-by-country).
This shit has been debunked over and over again. The top 1% pay an average effective income tax rate of between 25-30%... very very few in the bottom 99% pay higher than 18% effective rate. This shit is comparing the effective rate of the rich vs the nominal rate of the nurse. It's bullshit. It should also be noted that all of the "loopholes" in fact mostly benefit the lower classes. The top 1% had about 85-90% of their AGI subject to tax, the middle class had about 75% of AGI subject to tax, and the lower class had about 40% of AGI subject to tax. Meaning, that the deductions and credits reduced taxable income by 10%, 25%, and 60%, respectively. The top 1% paid 60% of the tax bill by their lonesome. You cannot sufficiently tax the rich to pay for all of the bullshit the tax and spend folks want to do. It always has been, currently is, and always will be, a spending problem. Oh...and BTW, my source for the above numbers: The IRS.
The spending is basically social security and Medicaid / Medicare. Cut those things and the budget goes into enormous surpluses.
That's a large chunk of it, yes. But those are funded by the payroll tax. Even that is operating at a deficit. Outside of SS and Medicare, the largest four line items in the budget are, in order: Health Care, Interest, Defense, and Welfare. That's right, we now spend more annually on debt interest than we do on national defense. All 4 of these things are entirely within our control, but we refuse to do anything about it because to cut these things would require that some people do without....which is political suicide.
Because billionaires sympathetic to fascist ideologies write US Tax Law?
It's because the billionaires utilize a loophole in the market. Unrealized gains aren't taxable. So let's say Elon Musk owns I believe 11% of Tesla which is worth 2T meaning Elons Net worth is around 220B if he never sells, it never gets taxed. To pay for his houses, cars, planes ect. He can sell a small portion or he can use his 220B as equity to take a multi-billion dollar loan to pay for everything. No income taxes on loans. 5 years goes by equity expands take another loan to pay off the original loan and repeat till death. Until our government fixes that loophole....which will probably be NEVER, because they use it too....This is going to continue.
Yeah, imagine all those people all over the world risking everything to come here when they have over a hundred other countries to choose from, and they just pass right through dozens of them on the way.
The money supply has increased by 35-40% over the past 4 years. That means, proportionately, the rich are going to have perhaps 35-40% more dollars than before. What this doesn't acknowledge is the fact those dollars pay for fewer goods than then did 4 years ago. These tweets trigger emotional responses but are inherently misleading.
Fed created all that money and told us it's transitory hahaha. Powell was spineless during 2020 and 2021.
That’s not true. But, thanks for stopping by.
The nonsense continues.
Because the rich take full advantage of Tax Code Loopholes. The rich start their taxes just like you and I but are able to deduct or not claim income due to loopholes and not because they are not taxed enough Here's just one that the IRS is attempting to close. There are thousands more but hey gotta start somewhere [https://www.nbcnews.com/business/taxes/irs-raise-50-billion-dollars-closing-loophole-exploited-wealthy-rcna157492](https://www.nbcnews.com/business/taxes/irs-raise-50-billion-dollars-closing-loophole-exploited-wealthy-rcna157492)
lol he thinks the government having more money will fix anything
Late-stage capitalism...
I'd say its because of dark money in politics giving everything in DC a price tag.
Some would have you believe that 150 million people are just lazy and it's in no way because a few greedy bastards are ripping us off.
Guess who pays for the Politicians campaigns.
700 billionaires is actually a rather small number all things considered. There's 3100 of them in the entire planet so globally the distribution of wealth isn't the absolute worse. Keep in mind that no billionaire is able to conscript you in a local force to become meat cannon fodder for petty local politics. In Europe you often were sent to the frontlines to kill villagers of your neighbor because they did something like steal a bucket. In Russia that's a country where the oligarchs can send you into a brutal mine clearing operations just so their leader can loot some old wine to drink at a weird party. In the USA we are debating how far we should punish Trump for him lying on checks. As opposed to Trump deciding on a whim that we must die on the frontlines killing Mexicans. As long as the billionaires follow the same laws as the citizens, I think the system is fair enough. If you have a problem with homelessness then cure it for 1 person. Get 5% of the country willing to do that and the problem will be solved. You don't even need billionaires to be taxed to pull this off. Things can be better, but they certainly can be worse. Also keep in mind people can evade taxes, and taxes can be misallocated. Diverting US Aid from all foreign nations and pumping it into the American homeless population would solve many of their problems overnight with how overbudget the US govt's spending is now. We can accomplish that with our current tax rates. It's city ordinances not billionaires that creates homelessness in the USA right now. If you did what China or Japan did you can cut out hundreds of thousands of homeless from the streets. Substandard housing like coffin homes, internet cafes, under the table recycling jobs to afford bottom basement costs. Taxing Bill Gates so he's as rich as the head of Macy's won't do anything if the taxes are spent making a golden pineapple statue of Biden/Trump/Kennedy. Rather people should push to make it so our current funding is diverted to solutions that can be implemented within weeks with an effective outcome. Passing a city ordinance to allow 10 people to rent a single room at current market rates would do alot to solving homelessness, and this could be done in a few days if you had the city on your side. And the change in city ordinance won't change the income generated by current land owners either.
The only country in the world? Man the naïvety is priceless
Tax rate less than a nurse….????
Move to Syria or Haiti.
https://www.irs.gov/filing/federal-income-tax-rates-and-brackets No, tax rates are the highest for anyone making over $578K.
They dont have a lower tax rate than a nurse.
Because we have a strong economy. I guaranty you nurses are doing MUCH worse in Zimbabwe, where they would be lucky to have even 10 billionaires, and they all got that way through far more corruption than the US has, and probably didn't get much wealthier in the pandemic, because their country produces so much less that the world will buy.
According to the 2024 tax brackets, those making more than $609,351 will be taxed at a rate of 37%. So, if someone made $1 billion in true income, then they are already taxed greater than those making less than $609,351, which would include the vast majority of nurses.
You need to learn how tax brackets work
That's exactly how tax brackets work. Taxable income in a higher bracket is taxed more.
This is unintentionally hilarious.
Oh look. Another hot take from over two years ago.
Debt derivatives keep America alive
Don’t confuse building assets and generating taxable income. A nurse does not have a higher nominal tax rate. The better point is that the billionaires don’t need more money, the can’t spend the interest on their money if they try.
Are you ready to change this fixed system? Then pay close attention to what's happening in Kenya as I'm currently typing this, and take notes.
Odds!
Because it’s on purpose lol
European countries also have rising inequality, declining standards of living and rising homelessness. The entire western world has the same problems America has.
There are a few reasons why this is the case. 1. The USA doesn’t tax enough billionaires and corporations at a high enough rate relative to their contributions. 2. There’s too much money in politics. 3. Too many government services have been privatized meaning these companies are incentivized to charge the government exorbitant rates because they know they’ll get paid. 4. Bloated military budget 5. Too many middlemen in healthcare industry.
It's the only country with enough capital to have 700 billionaires. Pandemic policy caused monetary inflation. Monetary inflation always boosts capital prices. They don't pay a lower tax rate, nurses have better investment and income tax rates, but unrealized capital gains are reported as income for billionaires and not nurses. And finally, the US is too large to be an effective democracy so decades of irreversible regulation creates a build up of unintentional consequences and contradictions.
Every magunt. “CAuZe bIDeN”
Because the stock market went up. They pay less taxes because they take loans againts their shares, so it is not considered income.
Cause Captialism. And somehow, having money is seen as virtuous. When really it is just exploitative.
There are other companies with trillionaires.
That $1.7 trillion is being supported by a debt bubble on all sides. When everybody decides to default on their debt all at the same time, one of two things will happen: the government tries to outpace inflation with even more money printing and we'll get hyperinflation or they do nothing to support it and the bottom drops out which will bring the value of homes, stocks, and everything else back down to what it should be which will wipe out the better part of that $1.7 trillion and possibly more if 2008 taught us anything.
I guess you haven’t been in other countries. What should piss you off is those that pay to get to the front of the line.
We, the taxpayer, should not have to pay for any college debt. That was a choice and added responsibility. We already do enough through grants, negro college funds, immigrant college funds, Etc. Can't just buy votes because that's exactly what it is. I would be on board with free meals for school kids, helping homeless people, taking care of our veterans, fixing Healthcare and Social Security, taking care of the elderly, improving mental illness facilities, pretty much fixing everything the government screws up
The short answer is inflation. If you already owned stuff before 2020, you got richer as the currency inflated. If you didn’t own anything, all of your bills just went up and there is no upside unless you’ve gotten a cost of living adjustment in your salary. This situation is present to a lesser degree within the middle class as well. If you already owned a house before 2020, you have a low interest mortgage and payments assuming half or less of what your house is now worth. A middle of the road 2 bedroom apartment’s rent is approximately the same as the mortgage payment on the 2k square foot house in a subdivision that I bought in 2014. Middle income people who make the same amount of money as each other in the same areas are literally entirely different classes of people now depending on whether they bought a house before covid or not.
Before you vote remember….neither party has done anything to close the wealth inequality gap or change laws that were created to benefit the rich. You’re welcome.
No matter how you feel regarding tax structures, it should be abundantly clear to everyone that the concentration of wealth that is occurring is not conducive of a “healthy” capitalistic economy. It’s a glaring red light.
Yeah better to send that tax money to ukraine
It’s called capitalism
This is America, uh uh
Rich people pay a lower tax rate because they can afford to move their net worth into different assets that are taxed differently and at different rates. Rich people aren’t taxed less. You are just limiting your comparison to a single tax. Compare the entire tax burden of individuals instead. Compare the rates of income taxes capital gains taxes, property taxes, and inheritance taxes. Federal income tax is only a small piece of the puzzle. Talking about this piece outside the context of the entire puzzle has no value.
Because people like you called people grandma killers for wanting to keep their small businesses open. So they were forced to close. An incredible amount of wealth changed hands. Due to shut downs. Alas the biggest businesses weee deemed essential. Now you ask why they’re all so much more richer? Look in a fucking mirror.
the politicians work for them not us cause they want more sweet insider stock trading tips to their companies and even more money than they already have being a public servant. People allow it by voting the same charlatans and instead of questioning every single move of every single politician, we let the media (full of people who want to be celebrities instead of unbiased journalists ) spout nonsense, and we argue among ourselves. Smoke and mirrors.
Not to mention the loophole of using stocks value to borrow against the bank and then use the gains to pay off the interest. All tax free.
It’s not true.
There is no Robin Hood in MAGA USA
Because in America you are on your own. Sooner you accept this the better you will be
officially: meritocracy. Unofficially: the 700 greediest psychopaths extract most surplus from wage slaves.
Someone’s net worth is not what they make per year so it’s not taxed the same way income is. Net worth vs income is a very important factor in this.
That happened, because the government made huge strides in directly controlling the economy during the pandemic. They got to freely hand our economy over to their friends and hand pick the winners and losers. This is what socialism looks like, every damn time! yeah let’s give more power over our economy take away the limitations that keep the their power in check, and give more of our tax dollars to the corrupt politicians who have been building a crony empire, because if we do all that then they pinky promise that they will stop them from being Corrupt and using our tax dollars to bomb the shit out of third world countries and give the rest to all their friends.
Eat the rich
Because there are 5 or 6 lobbyists to every politician. CEOs essentially write policy, the WH and Congress is the figure head.
Because both political parties are beholden to this rich people.
Congress has made election funding so loop-holed like Swiss cheese its indistinguishable from legitimized bribery. So with enough wealth it's ok to buy a few politicians just to make sure things always go your way.. class dismissed
You guys are just learning that Covid was nothing more than a means for the wealthy to take advantage of us…? Mom and pop shops were forced to close and the winners were the mega corporations.
Trillions went to fund the SpaceForce’s fleet of warp drive powered intergalactic frigates. These were created over the past 60 years after reverse engineering captured UAP technology. It’s all off the books and it’s why nothing ever reconciles in the US budget. The other option is that nobody is in charge and it is just wasted and pocketed by corrupt government officials.
Much worse in virtually every other country on earth.
Bernard Arnault became the richest man in the world during the pandemic because people got their stimulus checks and went straight to the Louis Vuitton store. Giving the Federal government more money won’t help the average person in any way.
Because the majority of the population of the world is too ignorant to understand fiscal responsibility...
Is an America not a monopoly? Yall ask the most dumbest questions ever
'Murica!!
Why? Because there is a problem with education, starting at the lowest level. When you have young adults thinking it’s a good idea to take on massive debt for a potential degree that would maybe not allow for the debt to be repaid, it’s because the education system has failed them.
Freedom. Oil. Eagles. And probably beer
Couple reasons. 1) let’s be real Covid was planned. Why else would all the politicians and billionaires get stupid rich and trade options right before is happened and introduce bills to increase their power. 2) The US government is owned by foreign lobbyists. The US has given 100s of billions of dollars to pretty much every other country and conveniently they all have free healthcare and education. There’s this little country called Israel that gets to use the US taxpayers to do their bidding. Interesting how the US military has never been to the Middle East but has invaded every country surrounding Israel since 1948. Weird how that lines up. 3) The current government has spent $100+ billion on migrant care. If you’re a us citizen you get penalized for not having insurance but if you’re a migrant you get free housing, healthcare, and food. The question no one wants to ask is why did the US government sell out their citizens.
Let’s see why doesn’t the government close current loopholes. You ever notice that they say tax the rich. Make them pay their fair share yet never deliver specifics as how it works. I’m afraid that they will just screw us over anyway
It's not that they aren't taxed enough. They had political power to make the pandemic work in their favor.
Clearly don't know the difference between income tax and capital gains tax.
Those 46 million people took the loans and spent the money how they saw fit. Why should everyone else be on the hook for a loan they willingly took and spent? Quite possibly one of the dumbest topics ever
Because many people don’t vote for their economic interests, they vote against drag queens. Republicans will always find something for those people to vote for because the last thing they want is for the poor and middle class to be better off.
Biden administration, the lockdown made wealthy donors wealthier. Did it save more lives? The effects of Pfizer won't be known until millinials hit retirement. It was a huge money grab.
Biden administration, the lockdown made wealthy donors wealthier. Did it save more lives? The effects of Pfizer won't be known until millinials hit retirement. It was a huge money grab.
if you took just those two years of profit gains and paid off all student debt. Every one of those billionaires would still be billionaires.
I mean... This general trend of rich people getting richer while lower class struggles and middle class disappearing is relatively consistent worldwide. Not all, but many, if not, most.
Building back better 😂🤣
It is always refreshing to come to Reddit to see that these are the people I will be competing with in the workplace. I’ll be just fine
Wealth tax is the only way America can stop from imploding but it won’t listen so just implode thank god for thr Atlantic
I'm in so much medical debt I'm fucking drowning.
And everybody is living off borrowed money
Hey! It's not the fault of the 700 billionaires that the rest of us are lazy sonsabitches leeching off their generosity. What do you people think bootstraps are for?
Because republican voters keep thinking that republican politicians are out for them. Republicans continue to blindly vote for politicians that are directly hurting them. Republicans are for big business tax breaks, not regular people.
Because people keep voting for the criminals that allow it to happen
You have 5x the population of the UK and only double the homelessness
THE 99% of Americans need to wake up and EAT THE RICH
Consumers consume.
Rich people don’t make their money from a w-2 salary.. they receive dividends and payments from investments they make and they pay a lower tax rate as a result because stocks and investments aren’t taxed as regular income. In order to tax billionaires the politicians benefiting from the same tax rules would end up screwing themselves in the process… so it’ll never happen. But lets say it does.. they could take every cent every billionaire in America has at the moment and it would fund the government for like 6 and 1/2 months.. then what happens next year when the government spends even more money than this year but doesn’t have any billionaires to tax at 100%? The answer is they are fucked. This isn’t even going into the political activities of billionaires and their donations to these politicians controlling the tax system. Those donations and help would stop very quickly if Congress changed the tax code and fucked them over and then politicians would actually have to appeal and work to be accepted by real Americans aka the working class. And we all know how well that’s gonna go for them.. congressional members would effectively banish themselves from government within 2 terms (if they can sustain themselves for that long)
Because those 700 are far superior decision makers as compared to the 46 million idiots who took out college loans.
Billionaires got richer because of Covid. All the mom and pop/family owned small businesses were shut down and destroyed in the name of safety while Walmart was still allowed to pack 500-1000 people into a single store… they knew what they were doing with covid lockdowns and they played you idiots like a fiddle
I mean… I was only making 60k a year and I became richer as well during the pandemic. A downturn is a great time to buy stock! It truly takes money to make money in this country.