tag:blogger.com,1999:blog-7895164153505105997.post9117150345640425819..comments2024-01-17T00:45:37.075-08:00Comments on Bud Meyers: Why aren't Multi-Billionaires Taxed for Social Security?Bud Meyershttp://www.blogger.com/profile/02065020063363023395noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-7895164153505105997.post-14503943075079273242014-11-22T04:14:41.424-08:002014-11-22T04:14:41.424-08:00Top incomes soared as tax rates fell
By David Cay...Top incomes soared as tax rates fell<br /><br />By David Cay Johnston<br /><br />"Each of the top 400 paid tax at the same rate as a single worker making $80,000 in 2010 ... These figures from an IRS report released Friday show how much government policy has helped those at the top amass even larger fortunes thanks to lower tax rates. It also shows how far the United States has moved away from the ancient principle of progressive taxation ... The annual top 400 report by the IRS significantly understates incomes at the very top in America because Congress lets some people defer reporting their income — and therefore paying their taxes — for years or even decades. These deferrals are the equivalent of a zero interest loan from the government of the amount of tax deferred. Several dozen Americans, disclosure documents show, earn annual incomes of $1 billion or more. But they do not show up in the top 400 reports because Congress does not require them to report their full incomes or pay taxes immediately. For cash to live on these people typically borrow against their assets, paying interest rates of 2 percent or less."<br /><br />http://america.aljazeera.com/opinions/2014/11/taxes-rates-wealthyirsdatainequality.htmlBud Meyershttps://www.blogger.com/profile/02065020063363023395noreply@blogger.comtag:blogger.com,1999:blog-7895164153505105997.post-8765648568256291282014-11-02T14:04:55.260-08:002014-11-02T14:04:55.260-08:00these scumbag parasites like Carl Icahn, who feed ...these scumbag parasites like Carl Icahn, who feed on the blood of the working class have rigged the game, from DEM to Republikkkans so that they get all the income generated in this country.<br /><br />Of course they have not need of SS, it's a laughable joke if it wasn't so goddamn serious. That's where Obama let us down and possibly ruined a generation of liberal voters.<br /><br />thank you for letting me post <br /><br />Allenallenhttps://www.blogger.com/profile/06840237717017411534noreply@blogger.comtag:blogger.com,1999:blog-7895164153505105997.post-20430566429825251042014-11-01T04:02:22.233-07:002014-11-01T04:02:22.233-07:00If not for Social Security, then they should at le...If not for Social Security, then they should at least be taxed for a "Basic Income".<br />http://bud-meyers.blogspot.com/2014/08/why-basic-income-will-eventually-be.html<br />Bud Meyershttps://www.blogger.com/profile/02065020063363023395noreply@blogger.comtag:blogger.com,1999:blog-7895164153505105997.post-15437976824062239352014-10-31T19:01:01.758-07:002014-10-31T19:01:01.758-07:00Self-employed individuals must pay Social Security...Self-employed individuals must pay Social Security as well as income tax, so why not people like Carl Icahn who make their living rigging the stock market. When you give tax breaks to certain groups, someone else eventually has to make up the difference... and that somebody is usually the poor sucker who has to get up every morning and go to work. Why should a person who plays the stock market pay nothing on their capital gains (if he makes less than $38K), while a poor slob who works for a living pays 15%? It is because this country places a much higher value on investment than it does on work.<br />Anonymousnoreply@blogger.com