151–155 of 155 posts
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At some point, theft becomes a more suitable word for it. No, because confounding usefully distinct concepts makes them less useful.
If Taxation at 100% is slavery, at what percentage is it not?
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If it were common for rich people to pay 44 percent of their income in tax, it wouldn't be a newsworthy story.
Are there people who receive millions of dollars in income via stock options who pay a lower rate? If so, how does that work?
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I think people care that the rich pay a smaller proportionate rate[1] than the poor. People who make under $19k a year pay twice the rate of those making $470k+ Comparing total of taxes paid and leaving it at that is generally a tactic to distract from the proportion problem. 1. http://www.itep.org/whopays/full_report.php
45% of Americans pay 0 federal income tax. That is a very small rate
Are you suggesting someone makes less money so they pay less taxes? or are you just trying to change the subject?
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Are there people who receive millions of dollars in income via stock options who pay a lower rate? If so, how does that work?
Here's a Bloomberg article from 2012 that lists ten techniques: https://www.bloomberg.com/news/articles/2012-04-17/how-to-pa...
The only techniques that apply to income taxes are the "borrow against stock technique" (has a big caveat about a rich person who lost in court when he used it) and the deferred compensation example (which is also zero liquidity; presumably you pay all of the income taxes when you actual get the money).
The article makes a better case for ways to avoid death taxes or real estate taxes though.
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Not that long ago we had 90% tax rate (70% effective) in USA. It's been plummeting since WWII https://en.wikipedia.org/wiki/Taxation_history_of_the_United...
That was a nominal but not realistic rate for the very wealthy / high income. IIRC, dividends were not taxed at that rate. More info from this commentor: https://news.ycombinator.com/item?id=14168781
Today's top rates are no different, in that people including corporate artifcial ones don't pay it.