💙And this is how other countries make it Work FOR Everyone...DUH, America !!! The ugliness of GREED & DISHONESTY (and ignorance, et al.) prevents us from this HERE !!! smh...
"Billionaire Michael Dell asked me to name one country where a top marginal tax rate of 75% has actually worked. The U.S. in the 1950s under Republican President Eisenhower. It was 91% for people like Dell. We've got to talk about taxes."
Pay yourself entirely in stock, then use stock as collateral for low interest rate loans. Expense the interest and enjoy tax free wealth. “Only the little people pay taxes.”
And so does Norway btw. :) Like our grand old man Olav Thon. One of our richest who sadly died a few weeks ago at 101 years old and worked to the end(board meeting a few weeks before he died). He said that taxes is important. We must give back when we ourself is granted so much! So pay your taxes!
Most of Europe does not have a wealth tax which is where most of billionaires money comes from. A few nations have some wealth tax but usually just a narrow set of assets.
Billionaires in Germany pay a lower effective tax rate than middle-class families. This is because billionaires' wealth comes from investments, which are taxed less than salaries
This is the saddest truth. The richest give less than the fkin minimum wage. How does that make sense to anyone? It’s all craziness. Ugh “loopholes” my ass.
Taxation rates isn’t the issue. You could set it to 95% & they’d still find ways to avoid paying it. The real problem lies in the loopholes and the specialist tax evasion lawyers—paid eye-watering sums—who always find ways for them to dodge paying their fair share. It’s the system that needs reform.
NOT true about Sweden. Might be true in theory, but in reality, billionaires pay far less in taxes. For anyone who reads Swedish: https://www.etc.se/inrikes/rekordlaag-skatt-foer-svenskarna-som-tjaenar-mest Most billionaires pay around 30% taxes on the stuff that's registered as actual income, and they also earn tons in other ways. (And it sucks)
„Eisenhower's presidency did see some tax rates above 90%, but that figure only applied to the individual income taxes of top earners. […] in 1953, for example, any income above $200,000 was taxed at 90%, above $300,000 at 91%, and above $400,000 at 92%.“
And they got deductions from reinvesting in capital improvements, increasing wages and philanthropic social causes.
The idea was to make America stronger.
Tax cuts for the wealthy is a myth perpetrated on low information, low income rubes, because the rest of our taxes are 2 high & wages too low.
If wages had kept pace with productivity based on the Consumer Price Index of 1968, minimum wage today would be higher than $24 per hour.
And that’s dated.
Imagine how much good you could do in America: Healthcare, infrastructure, science, social security, eta. Every basic human need would be taken care of. Instead you have a Reagan and Trump America where so many are owned by so few, for no good reason at all.
Healthcare is +18% of yearly GDP. After operating expenses/ doctors Pharm, shareholder & CEO Golden comps, less than 25% goes to claims. Universal Healthcare would cost ~35 trillion over 10 years. Much less than what we pay for now. Inverse of what it should be.
It’s insane. And you’re right.
It should be noted that the 90+% top marginal tax rate under Eisenhower was never actually PAID in full by anyone. They then as now had loopholes and accountants at their disposal.
But there is a BIG difference between what you still end up paying EVEN WHEN YOU CHEAT, and that's the REAL point.
Brother was a forensic CPA. It’s a transactional income. Code is difficult on purpose. And it takes skills to navigate it. But he laid out exactly what’s happening now from the time Reagan started deficit spending. Only 2 ways to pay debt. Raise taxes, or devaluate the dollar. Tax cuts 4 Rich are BS
70 to 92%. And I posted the same thing - we need to go back to this.
We dramatically raised top tier rates to fund WW2. Which means we already know that the way to properly fund government is to tax the rich.
Now they want to CUT government to SAVE the rich.
Its insane.
No, we just need to wait for the trickle down. That comes in the form of piss… directly from Elon onto all of our faces. We’ll be told, “it’s raining”.
“My daughter Sabreen needs your help. Due to the war, she is in urgent need of support. Every donation or share of the support link can make a big difference in her life. Thank you for your kindness.”🍉🇵🇸💔🍼😭
I tried to post this on Facebook & it got removed for incomplete information.
Looked pretty complete to me.
Billionaires are required to be super sensitive.
I'm sorry for request this. We need to pay a lot of food, medicine and rent.
My little sister, Soso, lost her childhood. At least she deserves a life like your child in the north. Share Donate generously to her 🙏🥹 https://chuffed.org/project/116638
Australia taxes their Billionaires 45% plus everyone pays 2% of income into Medicare so we all can get free healthcare! Get on board with the rest of the world America, it’s not rocket science!
Individuals yah we do but not businesses so billionaires here just move their money into business accounts and play fast and loose with our loop holes (i.e negative gearing) so end up paying less than average individuals - our system too is a rort
All billionaires should be taxed at 100% when they reach a billion. Nobody needs all that money but healthcare and houses are needed. Congratulations. Well done for making that money. Now give it back to those who need it. Keep your first billion, if you want. But give the rest back.
If only the whole world could adhere to ~50%. Even the Swedes get around it by registering companies abroad and/or relocating to for example Cyprus or Switzerland.
These inequalities in the tax burden of US citizens show how social programs needing help should and could be funded.
As long as trump is obstructing social progress, the American Oligarchs will continue accruing wealth.
🇩🇪👋 We don’t. We just cash 45% far above 100k€ income tax. Billionaires don’t “work” with income. That is money working in within companies and trusts. They pay in the single % max. Wealth tax was suspended by court decades ago, no one tried to fix it because of rich people blocking it🤡
Thanks for using Alt text!!! It only takes a second and helps people with disabilities use the site! Take an extra second guys ,it'd be appreciated by a lot of people! 💙
Under the last republican to balance the budget Dwight D Eisenhower by 90%
We called it the most prosperous time in US history.
We did once, we can and should again.
In Sweden, the top marginal tax rate is 55.5% on high incomes. It combines municipal tax (~30%), national tax (20%), and employer payroll tax (31.42%). It funds universal healthcare, free education, and social benefits. Most Swedes pay a lower effective tax rate overall.
“Total earnings
£100,000,000,000
£1,000 tax-free Trading Allowance
Tax to pay
£ 46,999,986,989
£44,999,985,753 income tax
£0 class 2 National Insurance
£2,000,001,236 class 4 National Insurance
At one time our top income tax bracket was 90%, which highly incentivized them to instead invest in their employees and other positive public goods. Past time we raised that top bracket again.
This happens when you can only vote for billionaires. Your leading class and rulers are all billionaires, so when they can decide why they should tax themselves?
Our billionaires are way in the black on our tax dollars. They rake in way more than they ever pay out. They use a small amount of their fortunes for bribes to keep it that way.
It like the Middle Ages ruling class taxing the peasants now.
That's not accurate. We, in Germany, tax billionaire income at 25%. And we tax billionaire inheritances, unlike regular inheritances, at virtually 0%. Germany is a tax haven for the wealthy.
FB has been defending billionaires, nazis and republican trash for at least a decade or longer. Half of my posts are hidden or taken down all time. FB is just the "nice guy" version of X.
One other side note: The more tax dollars you give the US government the more they will bomb foreigh countries, and vote themselves in a pay raise. Then, maybe after that they will think about funding social programs.
The richest families in the world, most people don't even think about. Rothschild line, Vanderbilt line, Habsburg line, and these are just some of the western worlds wealth. They hide their wealth in land, families, art and assets. The real wealth don't brag, they just quietly know how to keep it.
This is the problem ! It’s time to say ENOUGH ALREADY Let the wealthy in the USA Pay their fair share ! The non wealthy here, have been carrying the burden for years !
Sweden ranks fourth in happiness of its citizens Netherlands sixth Germany dropped and we in America dropped to 23rd in happiness seems the tax narrative from the right doesn't make us happy the rich not paying harms us
People don’t understand how rich the American rich are. If we share all income equally, 75% of workers, about 100 million, would have their wages tripled, the next 15% would have theirs doubled, and the last 10% would have their salaries capped at $170,000. Still for most of us, comfortable income.
That's income tax. Billionaires no longer need income through work. They let the money work for them and most of them in the Netherlands don't pay tax at all through all kinds of tax haven loopholes. The system is broken globally.
I was told some years ago that the wealthy could be taxed up to 62 percent in Belgium. Imagine how the US could benefit if the likes of Bezos, Musk, Murdoch and thousands of others were taxed at that rate. You may even get a decent health system out of it. The MAGAs just never caught on.
The Wall Street Journal https://www.wsj.com/articles/billionaires-r…
Billionaires’ Row Was Built for the World’s Wealthiest.
Gilded, gated communities in the sky, this group of “supertalls,” collectively known as Billionaires’ Row, was built with a single constituency in mind: the richest people on earth.
The beginning of the end of the middle class in America began with the paltry taxation of billionaires. Now they purchase the politicians and write the laws to favor themselves instead of the people that made their immense wealth possible.
Also not true for the Netherlands. Follow the money calculated the Dutch billionaires pay even less tax compared to the US. This is not a US problem, its global.
Only in America... does a 34X Convicted Felon get Re-Elected to pass even MORE tax cuts for the 1% & Wall St. and... have their wet dreams of cutting Social Security, Medicare & Medicaid.. while claiming to be Pro-Life Christians!!! LOL
Imagine how much better the US economy would be, how much higher wages would push that economy, if the money was put back into the economy unless it was reinvested back to the business. Imagine streets, schools, the whole infrastructure would be, if taxes were like they were in booming 50's.
U.S. has had even higher rates at times. "The top individual rate reached a high of 94 percent in 1944-45, and the top corporate rate reached a high of 53 percent in 1968-69."
Interesting read abt rates vs credits, exemptions & other income altering acts. 👇
Comments
"Billionaire Michael Dell asked me to name one country where a top marginal tax rate of 75% has actually worked. The U.S. in the 1950s under Republican President Eisenhower. It was 91% for people like Dell. We've got to talk about taxes."
-Historian Rutger Bregman
Leave US be, Billionaires.
Pay your dues. Pay what people pay.
You are Human even tho u think ur
dead/ufo/divine/matrix
stop trying to loot our Social Security, Medicare, Veteran benefits, and many regulatory bodies
https://ips-dc.org/oops-a-rich-people-friendly-think-tank-confirms-our-richest-pay-under-1-percent-of-their-wealth-annually-in-tax/
Unfortunately, this won’t get fixed anytime soon, as the incoming Congress is hostile to the idea of taxing them.
Wouldn't it make more sense to cut Medicare and Social Security 😵💫
Ironic MAGA’s advertise on bringing that time back for the white male, with all the trimmin’s except taxing billionaires.
Little rancid twunt.
he was just a less flashy trump.
i'm still stunned by the fact that this walking-felony was placed BACK into the whitehouse🤯
Fun fact, even America First was an old KKK slogan.
But that was when we were a country with morals and ideals.
„Eisenhower's presidency did see some tax rates above 90%, but that figure only applied to the individual income taxes of top earners. […] in 1953, for example, any income above $200,000 was taxed at 90%, above $300,000 at 91%, and above $400,000 at 92%.“
The idea was to make America stronger.
Tax cuts for the wealthy is a myth perpetrated on low information, low income rubes, because the rest of our taxes are 2 high & wages too low.
And that’s dated.
It’s insane. And you’re right.
But there is a BIG difference between what you still end up paying EVEN WHEN YOU CHEAT, and that's the REAL point.
We dramatically raised top tier rates to fund WW2. Which means we already know that the way to properly fund government is to tax the rich.
Now they want to CUT government to SAVE the rich.
Its insane.
Looked pretty complete to me.
Billionaires are required to be super sensitive.
I'm sorry for request this. We need to pay a lot of food, medicine and rent.
My little sister, Soso, lost her childhood. At least she deserves a life like your child in the north. Share Donate generously to her 🙏🥹
https://chuffed.org/project/116638
As long as trump is obstructing social progress, the American Oligarchs will continue accruing wealth.
We called it the most prosperous time in US history.
We did once, we can and should again.
In the UK:
“Total earnings
£100,000,000,000
£1,000 tax-free Trading Allowance
Tax to pay
£ 46,999,986,989
£44,999,985,753 income tax
£0 class 2 National Insurance
£2,000,001,236 class 4 National Insurance
What you're left with
£53,000,013,011
source: https://www.sueddeutsche.de/wirtschaft/steueroase-deutschland-milliardaere-steuern-schweiz-1.6563369
It like the Middle Ages ruling class taxing the peasants now.
😡
those 12 are dodging taxes left and right by having bank accounts in other countries and other nonsense
We must do our best to remind the USA 🇺🇸 of this!!
https://docs.google.com/document/d/1czyXKcDNbV-_LMykVFWBXdQiMGMVqX1gUc324GMJhGo/edit?usp=sharing
Seems we have a sorting problem.
That doesn't really help.
Rich people can afford to evade those taxes. That's the problem.
The Wall Street Journal
https://www.wsj.com/articles/billionaires-r…
Billionaires’ Row Was Built for the World’s Wealthiest.
Gilded, gated communities in the sky, this group of “supertalls,” collectively known as Billionaires’ Row, was built with a single constituency in mind: the richest people on earth.
😉🙂
it is much much much lower..
where you get your infos? fox news ?..
"From Jeff Bezos to Elon Musk, America's oligarchs are using media control to shape politics, grow profits, and destroy the prospect of a better future for all."
https://www.commondreams.org/opinion/democracy-oligarch-us-election?utm_source=Common+Dreams&utm_campaign=fc960cdbc1-Top+News%3A+Mon.+10%2F28%2F24+w%2F+fundraiser&utm_medium=email&utm_term=0_-b6968bca63-%5BLIST_EMAIL_ID%5D
Interesting read abt rates vs credits, exemptions & other income altering acts. 👇
https://www.concordcoalition.org/issue-brief/historical-tax-rates-the-rhetoric-and-reality-of-taxing-the-rich/