Should tax cuts only go to the top 3% of income earners?

You talk about capital gains and interest earned just as much. And he paid ELEVEN BILLION THAT ONE YEAR.

You're pont being what?

Why is the company accountant discussing the CEO's personal taxes?

 

But we ALL operate within the tax rules (assuming you're not doing it illegally). But the thing is, the more knowledge you have of the tax system, the less tax you pay. The richer you are, the better the accountant you can hire.

I know slightly more of the UK tax system than the average Joe. A number of years ago, I got my mate (self employed) to go Limited Company. Overnight, he save £8,000 a year on tax and the government paid him £1,000 per month in benefits, all within the tax rules.

So anyone claiming the rich should pay more tax, simply means, they're thick as **** on tax law.

 

The company's tax on staff wages.

I don't want to be funny, but I prefer to speak to people who above basic tax knowledge.

Are you a dentist? It's like pulling teeth.

 

Oh please. Trump gave companies a massive tax break so the companies ended up with more cash. They gave it away to the owners / share holders. And 1 year later the big companies all were going broke, so instead of the owners / share holders returning the money the companies needed, the companies got communistic aid from the GOP government. lol

 

You're coming up with an explanation why the rich hardly pay any taxes. That is not disputing that they are not paying any taxes. lol

 

who do you think shareholders are? you have a 401K? an employer funded pension? BTW this comment of yours has ABSOLUTELY NOTHING TO DO WITH MY Factually supported assertion that the top one percent pays a lions' share of the taxes

 

can you explain why you continue to make this factually bankrupt claim when the top one percent pay almost 40% of the income taxes?

 

https://www.cbsnews.com/news/who-pays-the-most-taxes-experts-explain-2023-deadline

some more proof
For instance, the top slice includes the nation's roughly 900,000 households that earn $1 million or more a year. As a group, they are projected to pay $772 billion in federal income taxes for 2022, or 39% of all federal income taxes, according to a projection from the Joint Committee on Taxation.

By comparison, there are 29 million U.S. households with annual income between $50,000 to $75,000. That group is expected to provide the federal government with about $44 billion in taxes, or 2.2% of the total pie, the analysis found.

 

No, I'm explaining there's a tax system, I'm also explaining that the less tax system knowledge you have, the more tax you pay.

Starbucks UK set up a Starbucks Luxembourg Consulting Company. Why? Luxembourg has a much lower tax charge on companies. So SBUK makes £50m profit, but SBL charged SBUK £50m consultancy fees. So SBUK made £0 profit, that attracts £0 tax. Starbucks now pays less tax in Luxembourg.

Apple channels it's money through different countries too.

All within the tax system.

 

We have been talking about CEO compensation and when all you got is trying to be snarky you ain't got jack.

 

Ahhhh no the less tax you OVER PAY.

No because the bottom 50% here pays virtually NO income taxes and they don't need an accountant to do so. The top 1% who do hire those fancy accountants you are talking about STILL pay 40% of those income taxes.

WOW and that made you so much smarter than all the other UK citizens that YOU and he figured that out.................doesn't say much for the level of business and tax knowledge over there.

How much more should they pay when the top 10% or earners already pay over 80% of income taxes?

 

What money did Trump give away to the stockholders? But then we know who actually pays the corporate and business taxes do you?

 

I turn 65 soon. I just got my first medicare bill-Part A and Part B. I have to pay an additional 1200+ a quarter even though I was maxed out on my contributions most of the 30 years I had earned income. So that is another tax those of us in the top one percent pay.

 

When you reply, can you just do one post because I just just ignore multiple quotes. I know what I wrote, I just don't want to re-read it again fragmented.

So I didn't read your reply.

 

You seem to be in a tizzy. Income tax is tax speak for tax on wage/salary. Now I know that this is the same case in America because Trump said he would scrap income tax. Income tax came about due to the World Wars.

So no snarkyness etc.. just clear (I'm British) proper clear English language. If you're American, this could be why you're struggling.

 

nope income tax came about due to progressives and the temperance movement

 

Here's a YouTube short, so it only takes 30 seconds or so to watch -

https://youtube.com/shorts/3mjvrWdMHsE?si=hFdN1LzqYEczUObE

So please explain where and how in the video you would get Elon to pay lots of tax

 

Well bless your heart I'm a Southerner and I would be being too kind to suggest you bone up our the history of my country or better stick to your own abiut which I am sure you are the commensurate expert. I assure you you are not with mine.

 

I will post in the manner in which I have posted to get my position here on this board.

If you going to post try to address the issues and points madenasnI am trying to do with yours including remarking to specific statements you make.

 

The entire idea of being a shareholder is that you risk your investment to get a return on your money. The way the Trump did it, was tax the companies less. Instead of companies investing themselves, they gave the money to the shareholders. And than covid came. Instead that the shareholders returning the money they took to keep the company afloat the same government gave communistic aid to do that. So there was no risk. All there is, is a scheme how the money of the rich always gets a return with a profit. The more money you can invest, the more you get back and so the rich get richer.

And the rich got a lot richer during the covid years.

The bail outs were also present during the credit crunch, where communistic aid was given to banks. And banks even used it to keep paying biggest managers lavish bonusses for a job "well done" while people at the bottom "had to be fired".

 

They pay income tax, and than got a zillion tax reduction things, to end up not paying a thing.

The "income" taxes Trump pays is also slim to zero because of them tricks.
And this is typical how the American rich get richer.

 

How a company arranges something has little to do with the rich personally hardly pay any taxes on their income and their real estate. Trump hard paid any income tax in the last decade while the guy is loaded. I'm totally not convinced this is what all the Americans are able to do, if they only knew how to do their taxes right. In fact, if all the Americans were able to do something like that, than who is going to pay for the army? And you think the US government would arrange a tax system like that? lol

 

you still cannot get around the fact that the top one percent pay almost 40% of the income tax.

 

the rich always get richer if the economy is sound