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Economy/Business / Re: Biden Calls for Record-High Tax Rate, Just a Few Points Shy of 50%
« Last post by Hoodat on Today at 04:02:09 am »The word "unrealized" appears 18 times in this thread. How is it that you have yet to see it?
To capture the financial reality of the richest Americans, ProPublica undertook an analysis that has never been done before. We compared how much in taxes the 25 richest Americans paid each year to how much Forbes estimated their wealth grew in that same time period.
We’re going to call this their true tax rate.
https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax
Exactly. So why are you pretending otherwise by buying into that ProPublica bullshit?
Show me in the tax code where you have to pay capital gains on a house that goes up in value that you are living in and not selling. I own apartments and office buildings. Never had to pay capital gains of course never sold them either..yet. .
Are you capable of thinking for yourself?
For example, let's say you pay $100k for a house. Next year, the government appraises the value of your house at $110k. So according to ProPublica, you should have to pay taxes on that $10k increase even though you did not see a dime of it.
I say that having just lost my companion of seventeen years last spring - A small Aussie Shepherd that worked most of his life with livestock and was a grand help. And he never bothered the chickens, and made a fair peace with the barn cats. He wasn't much for guardian - too small of frame... But he'd work with the guard dogs, playing heeler as they came head on.
That was a hella good dog, ol Chewy was. But had he been otherwise he would be no more.
I posted multiple links what he is paying. The top 400 richest families in the US pay on average just over 8%.
Business Insider on Bezos
If you account for the $127 billion increase to his net worth that came from stocks appreciating in value over time, that $1.4 billion Bezos paid in federal income taxes accounts for just over 1%.
Here is what Musk is doing.:[/b]
However, ProPublica pointed out that his “true tax rate” for the five-year period . . .
Show me a link where he's not. Because the tax code is quite clear. 37% on adjusted gross income over $578k. 2.9% Medicare tax on all adj. gross income. And 0.9% Medicare tax on all adj. gross income over $200k. That's the law.