How the rich avoid paying taxes

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Vox

26 दिन पहले

Capital gains taxes, explained.

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The richest in America don't make money like most Americans. Most people pay income taxes from a regular job. But many in the top 1% make money off their investments, like stocks, and pay capital gains taxes. While normal income has a maximum tax rate of 37%, long-term capital gains tops out at just 20%. Changing that rate, and some loopholes that benefit the wealthiest, is seen as one way to tax the rich.

Read more about how the richest avoid paying income taxes from Vox:
www.vox.com/22432338/joe-bide...

And an investigation from ProPublica:
www.propublica.org/article/th...

For more information about Elon Musk's loans:
www.wsj.com/articles/elon-mus...

Watch our full video catalog: goo.gl/IZONyE
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टिप्पणियाँ
Vox
Vox 25 दिन पहले
If you want to learn more about the US tax system, check out ProPublica's investigation into the wealth and taxes of some of the richest people in the country. They obtained IRS records of billionaires like Jeff Bezos and Elon Musk that specifically show how the rich get away with paying little to no taxes. www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax
Think Bank
Think Bank 3 दिन पहले
@Old Gregg Getting rid off taxation altogether is not a good idea either. How would you maintain a military, police, justice department and roads highways. But these things doesn't require massive amount of tax rate. Only 10-15% tax rate is enough for basic Government functions. I think it should be written in constitution that Government can never tax on it's citizens no more than 15%.
Old Gregg
Old Gregg 3 दिन पहले
@Think Bank get rid of taxation.
ΛᄂƬΣЯПΛƬΣ ƬΉΣӨЯY
ΛᄂƬΣЯПΛƬΣ ƬΉΣӨЯY 4 दिन पहले
its not a well researched video, its like a summary of wikipedia. VOX i expect better from you, cold fusion did a better job on the same topic.
Dirty Dan Speaks
Dirty Dan Speaks 5 दिन पहले
There’s a tax hole loop that all people with OLD MONEY used to follow. You are allowed an exemption called tax deferment. You essentially pass on all your tax burden to your children. When they turn 18 with money they do the same in perpetuity
Cecilia
Cecilia 8 दिन पहले
I disagree with Vox on quite a few issues but I agree that taxing the rich more is definiely something we should do
Nellie W Robinson
Nellie W Robinson 57 मिनट पहले
Guys earning payment online from Intellectweb service really I was amazed with the amount I confirm on my wallet account
Matthew Maurin
Matthew Maurin घंटे पहले
Why’s the answer not lower the income tax? Why is it raise capital gains?
fantastic fez
fantastic fez घंटे पहले
They don’t pay taxes but they create employments. A lot of it.
Kimonodragon
Kimonodragon 2 घंटे पहले
You can close the stepped up tax loop hole and they'll find a different loophole to exploit... For example: Life Insurance
Real Is Real
Real Is Real 8 घंटे पहले
It's because they make the laws
Ayman
Ayman 10 घंटे पहले
The system *doesn’t* make the rich people richer, the rich people find a way to use the system to make them richer.
Chris The Heavy Cruiser
Chris The Heavy Cruiser 11 घंटे पहले
Feeling bad that I am actually paying more tax than those capitalists.
Senthil Kumar N
Senthil Kumar N 11 घंटे पहले
wonderfully explained...
Joaquin Menendez
Joaquin Menendez 18 घंटे पहले
“The fact is, if you're a billionaire, you don't need any income.” Sure ok, we'll just tax billionaires 100%. It's totally not like these billionaires will stop running their companies because they can't make a profit. They totally won't take their money out of banks and the stock market either (their gains capital gains will be taxed at 100%) Removing all billionaires' incomes totally won't cause an global economic collapse. Trust me!!!!!
Rainbowp0ny Butterfly
Rainbowp0ny Butterfly 20 घंटे पहले
Most people keep forgetting this one thing - Stocks can crash - Hard. There is risk in reward and reward behind risk . The richest risk all their money dissaperaing in 1 day, but they can pay lower taxes. . Doesn't seem that unfair to me. But still a bad system.
Marcos Gutiérrez Alonso
Marcos Gutiérrez Alonso 21 घंटे पहले
I don't see how taxing the top 1% would improve the situation of US' middle class... Specifically in the US, where "f*** the poor" mentality is on the rise and tax money is not reinvested into the citizens, but into toys for the military, etc (^_^')
_ Spiritual_
_ Spiritual_ 22 घंटे पहले
don’t work a 9-5 & get rich off stocks & crypto okay
Щон?
Щон? दिन पहले
The poor stay poor, the rich get rich. That's how it goes. Everybody knows.
John Doeman
John Doeman दिन पहले
The US government is in the business of taxing the citizens for the benefit of corporations and the wealthy. Freedom and democracy are a ruse.
Jaiden P
Jaiden P दिन पहले
Worth is different than have in the bank and u can’t sell stock all at once we all know that if we were all billionaires we would do the same as the billionaires salaries are different from worth
Nitin Ahirwar
Nitin Ahirwar दिन पहले
Indian tax system was better till 2015 because its increases according to gains
IdontWantAName leaveMeAlone
IdontWantAName leaveMeAlone दिन पहले
Imagine if Americans were smart enough to boy cott these business for a month and bankrupt these corps...
Sean
Sean दिन पहले
No point educating us on this topic because it will NEVER change
Tonycia •
Tonycia • दिन पहले
Ohhhh
Алекс
Алекс 2 दिन पहले
yea, blah blah blah, but when you invest money - you allow poor people to make some money. And when you don't inest nad just spanding money - people laour worth almost nothing as they can't find good job. You should not give a **** who and how much pay and how reach are welthy people. If middle class or just casual people have good life - it worth it.
MrMattie725
MrMattie725 2 दिन पहले
5:03 If we look at history, more capital gains tax did not relate to more tax revenue in the US. In the graphs are very clear upticks in tax revenue when capital gains taxes are lowered. Followed by big crashes in tax revenue during the 2000 and 2008 crashes. I don't know how they predict these things, but history is clearly not of the same opinion.
J Hwang
J Hwang 2 दिन पहले
Hello Vox, I’m a bit confused about something. If the billionaires don’t sell their stock, other than the loan method that Elon Musk uses, then how do they pay for things?
English Boost
English Boost 2 दिन पहले
Would like to know more about the technical reasons for the arguments against raising capital gains tax etc. Why would many economists argue against it? What would happen if people did hold onto their stocks etc?
Lens Bongaerts
Lens Bongaerts 2 दिन पहले
Their stocks can go to 0 (risk) and they hold their money longterm in a company which improves the economy otherwise they pay short term capital gains. I think it’s fair for the risk and added value.
Lens Bongaerts
Lens Bongaerts 13 घंटे पहले
@grunkle cream but they made the stock so safe, they started with nothing and their portfolio is not like you and me. They have stocks and such an amount they dictate what happens.
grunkle cream
grunkle cream 16 घंटे पहले
There’s practically a 0% chance of large index funds going to zero, billionaires have diversified portfolios that are historically guaranteed to go up. Investing in huge companies long term just takes the money out of the economy - instead of moving between people and businesses it’s stuck in the accounts of tycoons. And did you watch the whole video? Nothing in the account actually has to be sold and taxed, it can b leveraged against and banks loan out money for free to them.
KelvinxG
KelvinxG 2 दिन पहले
if you have studied macro-economics you'll know right away.
xyckriz
xyckriz 2 दिन पहले
US gov: for every unsold stock, indirectly, i own 20% of the gains. the tax will be payable once you sell it.
Gaspardrow
Gaspardrow 2 दिन पहले
Truth is, there are some that plays the "earning" game better than others, the problem is, we got everyone mad at them for it, instead of learning from it. Not everyone is destined to get rich, but the truth of life is, that you don't need to. What is fair? You tax their total wealth, then when is the turn of the middle class and then the poor? Don't forget, the rich are only the "minority" that you can attack first, then the second "upper middle class" is the second minority, then the Middle Class, and so on, till everyone will have to pay, and that means, we all will be poorer and not get anything from it. And the state is a TERRIBLE distributor of wealth, especially if it depends of who is sitting in the chair each 5 years. (More or less) They pay their salary first, then the rest, never forget, and I have never meet a poor politician, just some not that wealthy (yet)
Atomic Viking
Atomic Viking 2 दिन पहले
It would be hilarious to tax Elon Musk, only for his taxes to go towards the quite impractical and dysfunctional SLS Program.. I'm pretty sure SLS has missed _every_ deadline and budget so far..
ayi papel
ayi papel 3 दिन पहले
A rigged system
BrocNerd
BrocNerd 3 दिन पहले
There’s always income inequality, the thing that matters is the fact that the bottom are making way more than they ever have
BrocNerd
BrocNerd 2 घंटे पहले
@Nisse Nass also you’re forgetting that if we raise the minimum wage, some people will lose their jobs altogether, and that’s basically a fact.
BrocNerd
BrocNerd 2 घंटे पहले
@Nisse Nass lots of billionaires were people who once could barely pay rent, and I think that understanding is at the root of our disagreement. Most people can work harder and make more than enough to live, but many are unwilling and their ok with that. You’re right that some people need help but that doesn’t mean we steal from the rich. (And btw the rich pay like 80% of all taxes depending on your definition)
Nisse Nass
Nisse Nass 2 घंटे पहले
@BrocNerd According to forbes Franklin D. Roosevelt stated that the minimum wage should be more than enough to survive on. And you are still ignoring the fact that thousands of people don't earn enough to live while the rich refuse to help.
Nisse Nass
Nisse Nass 2 घंटे पहले
@BrocNerd When 15 articles from major news channels say something it tends to be correct just saying. Although not all minimum wage workers need to pay rent, justifying it is ignroing the people that suffer because of the minimum wage being so low. Do billionaires deserve to live like they do while the poor barely survive? I wouldn't say so.
BrocNerd
BrocNerd 2 घंटे पहले
@Nisse Nass also I’m currently reading those “articles” and one of the stipulations is that minimum wage workers can’t afford rent for a single bedroom in 95% of counties in the us if they are making it 30% of their income. Well then maybe make it 50% and cut your budget elsewhere. Also a minimum wage isn’t really supposed to be a living wage. Like I said, most people can get a job above minimum wage, and if not now, they can rely on government aid until they can, because there’s a lot of that going around.
BlyatGaming01
BlyatGaming01 3 दिन पहले
"We want to rob people" - ???
yilang gao
yilang gao 3 दिन पहले
Let's just put it this way, if America become a high tax country, then all the rich people will move out of US, and the America will become the second South Africa
barely off the hook
barely off the hook 3 दिन पहले
Imagine being Warren Buffet's inheritor-
K J
K J 2 दिन पहले
Warren Buffet is donating all his money to charity so...imagine being less fortunate and getting some of Buffet's money?
Dagoberto Dominguez
Dagoberto Dominguez 3 दिन पहले
Bring income tax down to 20% to pair with capital gains tax, great idea Vox!
Lisa Love Ministries
Lisa Love Ministries 3 दिन पहले
1 Corinthians 15:3-5👑 “For I delivered to you first of all that which I also received: that Christ died for our sins according to the Scriptures, and that He was buried, and that He rose again the third day according to the Scriptures, and that He was seen by Cephas, then by the twelve.”
Bilal Musa
Bilal Musa 4 दिन पहले
The miniature customer extraorally frighten because napkin paradoxically explain throughout a sour virgo. cynical, known sauce
Robby Helfer
Robby Helfer 4 दिन पहले
Nothing is stopping Buffet or any of these other rich people from sending in more money to the IRS
Jason Kaler
Jason Kaler दिन पहले
That's called bribery and is illegal.
Matt Less
Matt Less 3 दिन पहले
But its such good pr when Warren Buffet claims to be the champion of the people while sitting next to his underpaid secretary 🤫
S
S 4 दिन पहले
They just gave you the keys to the kingdom and now they want you to believe the only way forward is to storm the castle. 🤦‍♂️
zoe fofo
zoe fofo 4 दिन पहले
Well then why dont we just do the same thing as the rich.
Trent Slusher
Trent Slusher 4 दिन पहले
"our system is based on only paying taxes when you sell something" Yeah because stocks can crash at anytime. it's not worth anything until you sell, that's why capital gains tax exists. & it's lower then regular income tax because investments come with risk.
Owen Yamamura
Owen Yamamura 4 दिन पहले
the poor and rich have a sense of justice and fairness and demand it, but wouldnt you agree taxing one group more than another group is NOT fair or just, call it something else, but not FAIRNESS/JUSTICE
King Fishy III
King Fishy III दिन पहले
@Matt Less except most billionaires came from the middle class and became rich through smart investing. Is it fair that because the stronger people worked hard to exercise to become strong so that they could carry their own weight have to carry other people weight?
Matt Less
Matt Less 3 दिन पहले
Dont you think its fair that the rich pay more taxes? Afterall they also profited more of the state and its infrastructures etc. Imagine a family on a hike: whats fair? That everybody carries the same amount of weight in their backpacks, or that the parents carry more than their kids?
qwertyuiopasdfghjklzxcvbnm
qwertyuiopasdfghjklzxcvbnm 5 दिन पहले
HODL📈📉
SACC
SACC 5 दिन पहले
Once you get a job, its time to invest 50% of that salary towards stocks especially big tech companies
SKY LIFE
SKY LIFE 5 दिन पहले
My question is... if the govt gonna tax the stock, will the govt give tax return to like car? I mean car value go down over time...
Dashy
Dashy 5 दिन पहले
Thank you for this detailed guide. Very useful information. Looking forward to more tips and tricks in the future.
Ashmin Rai
Ashmin Rai 5 दिन पहले
What Warren says: My secretary is charged at a higher tax rate than me... What people heard: My secretary pays more tax than me...
Ashmin Rai
Ashmin Rai 4 दिन पहले
@Java_Siege_ in terms of importance, that 5 is far more important than50, but the problem is people are thinking his secretary is paying more in terms of number not in terms of importance which isn't true...
Java_Siege_
Java_Siege_ 4 दिन पहले
5 dollars to a person with 50 is much more valuable to them than 50 dollars is for a person with 2000 dollars.
RIAD
RIAD 5 दिन पहले
Isn't the wall street guy from "True Detective" ?
Arjun
Arjun 5 दिन पहले
Can you tell me how this can be done in India?
Piyush Patel
Piyush Patel 6 दिन पहले
But wait a second, if rich people don't need to have an income to live and they live off on their loans which is not taxable then how do they pay back that money then they don't have an income and if I assume that that would sell their assets to repay, wouldn't that decrease their total asset value, which ofcourse riches wouldn't like
Dan C
Dan C 5 दिन पहले
While they technically don't have an income, they still have to earn money to pay off the loans. Vox (intentionally) did a poor job of explaining it
V for vendetta
V for vendetta 6 दिन पहले
I can’t even blame them that much because if that was me I would wanna give around 40% of my money
Abhishek Ranabhat
Abhishek Ranabhat 6 दिन पहले
I hate when someone idolize people like Elon Musk
K J
K J 2 दिन पहले
Jeff Bezos and Warren Buffet make way more sense to idolize.
tangibleblockofwisdom
tangibleblockofwisdom 6 दिन पहले
“...and everyone else just.. (assists)”
Florian and the machine
Florian and the machine 6 दिन पहले
Well if you tax unrealised gain, get ready for large scale tax evasion/optimisation with claiming tax-back for unrealised loss
James Olam
James Olam 6 दिन पहले
We should tax income less. Not tax capital gains more! I get a salary and pay income taxes and then after I invest I have to pay an additional capital gains tax! It is outrageous. Also, why doesn't Buffett just pay his secretary in stock in order to have her pay less taxes via capital gains? He is a total fraud!
K J
K J 2 दिन पहले
@Shadow Dragon Same with workers.
Shadow Dragon
Shadow Dragon 2 दिन पहले
@K J we can create a Gulag for them
K J
K J 2 दिन पहले
@Shadow Dragon Same to you, good luck with the striking businessmen.
Shadow Dragon
Shadow Dragon 2 दिन पहले
@K J good luck with the strikes
K J
K J 2 दिन पहले
@Shadow Dragon It should be raised on workers because they couldn't do what they do without the company backing, ie it's not their own.
Faizan Shah
Faizan Shah 7 दिन पहले
Honestly everyone talks about wealth tax, but I have no idea why there has been no headway in that direction. Set a baseline of $20-30 million and tax at the highest rate. This may bring in some parity.
MMM MMM
MMM MMM 7 दिन पहले
Stop real estate speculation, that’s what will help the common man
Ray Han
Ray Han 7 दिन पहले
So, they are not avoiding tax, they literally pay it
K J
K J 2 दिन पहले
@Matt Less Except if that were true, all rates would be lower, and they're not. If you hold a stock for less than a year, you still have to pay the higher tax rate. Things aren't the way they are because everyone is so corrupt and evil and only you can see the truth. Reality is things are the way they are for a reason.
Matt Less
Matt Less 3 दिन पहले
They are avoiding tax by probably heavily lobbying/influencing the lawmakers responsible for the low tax rates on stockmarket gains.
Easwaran KG
Easwaran KG 7 दिन पहले
The capital gain tax should be 37% and income tax should be 20%. The main reason for this money gap is, reach people are worth so much but others earn. Only if we reverse the scenario in the law the rich will pay taxes
Joeybe7
Joeybe7 7 दिन पहले
It’s simple billionaires live in places without income tax
N̢yar̨la̡t͞hot́ép the Crawling Chaos
N̢yar̨la̡t͞hot́ép the Crawling Chaos 7 दिन पहले
Billionaire do pay taxes. 40% of the nation average according to census.
Shadow Dragon
Shadow Dragon 5 दिन पहले
Only 40%?
This channel does not exist.
This channel does not exist. 7 दिन पहले
And about if not less than 1% of their wealth.
alacarteno
alacarteno 8 दिन पहले
it’s just??? why would they need to avoid????? they have the means to pay for it????? MAD
MFD Talks
MFD Talks 8 दिन पहले
4:40 Nice
John Doe
John Doe 8 दिन पहले
Just lower the income tax. And have the government spend less. EZ
asdfg
asdfg 5 दिन पहले
Based.
Jon P
Jon P 8 दिन पहले
69% ayyyyy
turtle mouse
turtle mouse 8 दिन पहले
aka the rich get richer and the poor get poorer
King Fishy III
King Fishy III दिन पहले
Before covid, the poorer we’re getting richer along with the rich. The middle class is shrinking which is a good things cause they are moving to the upperclass
Shadow Dragon
Shadow Dragon 5 दिन पहले
Yeah! Per capita income of the working class is definitely decreasing. Covid-19 made it worse.
Dan C
Dan C 5 दिन पहले
Aka you don't understand how economics works
yilang gao
yilang gao 9 दिन पहले
eqaulity in finance is impossible, people will lost incentives, and human race has come so far is because the desire of being better
Joel Crow
Joel Crow 9 दिन पहले
Not all stock is Amazon, Berkshire Hathaway and Apple stock. By taxing "all stock" or "all capital gains" you impact small investors far more than your targeted evil billionaire. And don't forget your own foot, how is your own 401k doing? Would you like "another 10 % tax on your retirement?" It's not a simple "here's how we finally get the rich to pay" solution that you may be lead to believe.
Amabel Jacinta
Amabel Jacinta 8 दिन पहले
I think it's called a progressive tax on capital gains 😐
MMA man
MMA man 9 दिन पहले
Ohhh so that's why the rich take loans
Aman Jha 5-Year IDD Chemistry
Aman Jha 5-Year IDD Chemistry 9 दिन पहले
But what if these rich people decide to just go somewhere else where they won't be taxed as much? Or what if they liquidize even less? Or what if it discourages people from investing in stocks?
Benjamin Griswold
Benjamin Griswold 9 दिन पहले
I'm willing to bet Vox does all this 😂
𝐀𝐋𝐆𝐎𝐑𝐈𝐓𝐇𝐌 𝐓𝐈𝐂𝐊𝐋𝐄𝐑
𝐀𝐋𝐆𝐎𝐑𝐈𝐓𝐇𝐌 𝐓𝐈𝐂𝐊𝐋𝐄𝐑 9 दिन पहले
*AMONG US*
Farhan Rashid
Farhan Rashid 9 दिन पहले
Get rich stay rich
kevin guzman
kevin guzman 9 दिन पहले
I’m a CPA for estates, and this video is one of the best simplest ones I’ve seen on INcds
LosWitDaHoodie
LosWitDaHoodie 9 दिन पहले
This makes me cry 😭
Shubham Vats
Shubham Vats 10 दिन पहले
The best way is to abolish all kind you direct income tax .
Sruthi A
Sruthi A 10 दिन पहले
Time to introduce tax on inheritance then!
King Fishy III
King Fishy III दिन पहले
It already exists
T TY
T TY 10 दिन पहले
so if people are paid in stocks instead of income, they won't get taxed?
T TY
T TY 7 दिन पहले
@IBRAHIM Khan yea, but you will be tax on capital, which is better than income taxed.
IBRAHIM Khan
IBRAHIM Khan 7 दिन पहले
but you have to sell someday
qTraveller
qTraveller 10 दिन पहले
Pretty "rich" coming from an outlet sponsored by Goldman Sachs
qwerty2409
qwerty2409 10 दिन पहले
I have no idea how american keep being slaves of big compagnies and billionnaires without saying anything
King Fishy III
King Fishy III घंटे पहले
@Robo Nobo except even rich people are subject to the laws of the countries. Politicians can change whatever they want with no repercussion
Robo Nobo
Robo Nobo घंटे पहले
@King Fishy III and when I say that I'm referring to the ultra rich I don't just mean 50 random people
Robo Nobo
Robo Nobo घंटे पहले
@King Fishy III I mean they have the money and assets to just change whatever they want with no repercussions
King Fishy III
King Fishy III 2 घंटे पहले
@Robo Nobo wdym “control”
Robo Nobo
Robo Nobo 2 घंटे पहले
Idk where you live but that's what happens in most countries.when you think about it more deeply a small group of maybe 50 or so people could control the world if they worked together.right know they just influence it true bribes and lobbying
XCJ Smith
XCJ Smith 10 दिन पहले
I don’t understand what is Vox trying to say, the concept is fair for unrealised profit. I mean it is unrealised you can’t just tax me on unrealised profit, what about unrealised loss, are you going to pay me back? The income tax law in US is just too high.
Ariel Birnbaum
Ariel Birnbaum 10 दिन पहले
Thanks to these rich guys the world is a better place. They took risks that helped improve our scocities, gave people jobs and developed technologies that enhance our daily lives.
King Fishy III
King Fishy III दिन पहले
Exactly. The way capitalism is, the only way you can get rich is by profiting society.
Dan C
Dan C 5 दिन पहले
Finally someone who understands that rich people make the world a better place. The businesses that they invest in benefit us all
Paul D
Paul D 10 दिन पहले
How about instead of taxing the rich more, they tax us common folk less
Will sr
Will sr 10 दिन पहले
Absolutely disgusting really
Jake Tran
Jake Tran 10 दिन पहले
I hate how we just accept that the middle class slaving away up to 37% of their life to the government is normal and okay. Genius idea: tax the middle class less instead of taxing the rich more.
xxyyzz
xxyyzz 17 घंटे पहले
@Echo 5427 did you even read his comment
Shadow Dragon
Shadow Dragon 5 दिन पहले
Why not tax the business class more and middle class less?? Maybe, like Sweden. In that country, some billionaires have to pay 80% tax.
Echo 5427
Echo 5427 5 दिन पहले
This will literally resolve nothing since the employer is just Gonna lower the wages because of the high taxes, if you want a great impact,abolish taxes or minimize it to like 10% for everybody
xxyyzz
xxyyzz 9 दिन पहले
wow didn't expect to see you here. wdym though i love giving my money to the government which, despite its excessive taxation, still has to grow an unsustainable debt and print loads of money
Sahil Bhagat
Sahil Bhagat 11 दिन पहले
Great video 👌👌👌
Adora Tsang
Adora Tsang 11 दिन पहले
When I hear billionaires do outrageous things. I want to tell them, "you know the poor can come for your money, right? Have you heard of the French Revolution?"
Thösam Norlha
Thösam Norlha 9 दिन पहले
This is hilarious, these days it’s digital money, no one can take their money
a24396
a24396 11 दिन पहले
And, with the right investments a billionaire need never pay income taxes, despite having an actual income. Municipal bonds, for example, are federally tax exempt and depending on the state may be exempt there as well... Or, you could buy real-estate and then deduct any income produced by that real-estate against depreciation before any income tax could be owed. So many ways to make the people that rich person underpays also pay more to make up the difference.
Mathias Enger
Mathias Enger 11 दिन पहले
In Norway we have a "Net Worth-tax". So you pay about 1% of your net worth in taxes per year.
Cecilia
Cecilia 19 घंटे पहले
@Smokey91 I mean what if youre indebted to your family the money technically is kept within your family nonetheless
Smokey91
Smokey91 20 घंटे पहले
@Cecilia debt is more expensive than 1% tho
Dave aus München
Dave aus München 5 दिन पहले
@ItsTimeToMakeLOL Of course it just gets taken. Yes one gets infrastructure, education,… (not healthcare that at least in Germany is another thing you gotta pay) but one has already paid taxes to become worth 1.000.000. Or how do you think people earned 1 million? If it was inherited, you paid taxes, if it was earned, you paid taxes,….. and as soon as you do something with the money you pay taxes, whether it is buying a car, buying food,… Yes it might not seem a lot, but take this, I am from Munich, my neighbors house is worth about 2 million euros (which is nothing special). So my neighbor who bought the house decades ago when it was a lot cheaper would now have to pay 10.000€ annually (progressive taxation) from retirement which maybe is 50.000€ before and 30.000€ after taxes, healthcare,… They are not rich but their net worth is extraordinarily high due to real estate
ItsTimeToMakeLOL
ItsTimeToMakeLOL 5 दिन पहले
@Dave aus München Your money doesn't just get taken. You get something in return. It wouldn't be fair to not pay for infrastructure, healthcare etc. 50% is a lot imo, especially in a country like the US which still is a third world country in some parts. But 1% of net worth every year ain't that much if you work. $1 000 000 net worth means $10 000 in taxes at the end of the year. And maybe we could just only have this tax for people with a six figure income or a net worth of up to $25 000 000.
Dave aus München
Dave aus München 5 दिन पहले
@ItsTimeToMakeLOL why does it? What’s „fair“ about a game we both play in which I am better than you, for whatever reason, and then a referee comes in and Takes away half of every point I score (just think 1 vs 1 basketball) and after halftime makes it more exciting by deducting another few points just for fun. Now please explain to me how in any shape or form that is “fair”
Gopinath Sahoo
Gopinath Sahoo 11 दिन पहले
Buying Stocks is an investment with volatility risks. If Capital gains tax are applied, why shouldn't be Capital loss subsidy ??
brian_grey_57
brian_grey_57 11 दिन पहले
Governments have to give rich people what they want, to keep big money in their country.
Suma Bhattacharya
Suma Bhattacharya 11 दिन पहले
Rich will always be Rich and Poor always be Poor. - Me
King Fishy III
King Fishy III दिन पहले
Exept that’s not true
Closing The Gap
Closing The Gap 11 दिन पहले
Hear me out… the rich only end up paying capital gains because investing is how they’ve gotten rich, so, maybe, you should be investing too rather than relying mostly on your income.
King Fishy III
King Fishy III दिन पहले
@Shadow Dragon that’s not how it works? If there are jobs to be filled people are going to take them. Because they have an incentive to actively try and gain more income
Shadow Dragon
Shadow Dragon 5 दिन पहले
If everyone invests, no one will work.
KAMVA EMMANUEL NGWENGA
KAMVA EMMANUEL NGWENGA 11 दिन पहले
What about their companies? Can somebody please school me
Pine cone
Pine cone 11 दिन पहले
For people getting mad at the rich doing this, you’d do the same in their position. Say you won’t all you want, but humans are greedy creatures
Léo Frmn
Léo Frmn 12 घंटे पहले
Yeah so ? That's not an argument, we're trying to say they shouldn't be able to do it, not that other people wouldn't do it if given the chance
Isak Adolfsson
Isak Adolfsson 22 घंटे पहले
I wouldn't.
JustRandom Things
JustRandom Things 9 दिन पहले
Sad but true 😭, Most people would but not all.
Ufuk Tan
Ufuk Tan 11 दिन पहले
Taxation is theft. I don't really understand why you guys want people to be willing to give a significant proportion of their money to a formation that gives that money to unnecessary officers in order to continue its existence thus getting more taxes paid. And taxing the rich ultimately decreases the total benefit. Think about all the billionaires, there are certain reasons why they are billionaires. Most of the time it is because they came up with innovative ideas which people are willing to buy. Consider Jeff Bezos or Elon Musk or Bill Gates. They didn't steal the money they have today. Nor have they inherited it. They came up with such ideas, that pushed humanity a few steps forth. Bill Gates is the very person who made it possible that we are having this argument online on our computers most of which run in windows. Jeff bezos is the person who came up with the idea of trading online for the first time. Elon Musk is just about to sell brainchips that even have the potential of curing blindness. I honestly can't understand how people can hate these people. They are simply the most beneficial men to the society with their money. And people want to take it away from them just to finance wars, corruption and unnecessary administration. Think of northern countries and germany, they are closest to your socialist ideals. They have the system you want, "Progressive taxation". Which means it is well-nigh impossible to become rich there. If the whole world were to be ruled as they are, we wouldn't have the rich. And I know that is what you want. But it also means that we wouldn't have most of the innovations, devices, technologies, whatever you call them that those rich have gifted us. Maybe we could have so-called "Social Justice" (Which by the way isn't justice, instead it is equality and yes they are different) but we wouldn't have anything that the rich have invented and even invested. If you ask me, no one should be taxed but I am repeating, taxing the rich is harmful for the poor too. Those who buy and sell stocks, they finance the corporations which have potentials. Without them being able to invest for entrepreneurs including the ones that are born into poor families, there is less of a chance that a poor person, an intelligent one, can become rich. And talking about fairness, how on earth can one conclude that it is fair to forcedly take away someone's acquired goods and give it to another person or formation. You guys have to accept that we humans are not equals. Some of us are more intelligent and some aren't. Some of as can handle much more money than the others. And this doesn't, howsoever, give you the right to seize peoples earned goods and give it to others. (And that is not even the case in the US. Taxes don't go to the poor in the US.) Next time when you are going to speak ill of the rich, venture waiving all the opportunities that are provided to you by the rich. Next time when you are going to criticise capitalism, remember that the keyboard that you are typing on is provided you by someone who invented it only to gain more money, and not by the state which clearly has much more money and power than any inventor or investor.
Julian Vijarro
Julian Vijarro 11 दिन पहले
These guys borrow against their stocks so stocks should be treated as income
DMK Anthony 07
DMK Anthony 07 12 दिन पहले
Fun fact: i watch vox rather than who for covid news. Im so glad vox came my way years ago.
Joey Dias
Joey Dias 12 दिन पहले
You identified a problem, but you identified the wrong problem. And your solution? Wrong. People should pay fewer taxes. The government doesn’t need any more money. And it’s a good thing that capital gains aren’t taxed as much. That inspires investment and innovation. It’s the reason America is #1. Biden’s economy and policies are already doing so bad, I’m surprised (though I shouldn’t be) that he wants to make it worse. I guess he wants to give Republicans super majorities in both chambers of Congress? The conclusion should be that the middle class is paying too much in taxes. And the solution? They should pay less. And leave it at that.
Anurag Rawat
Anurag Rawat 12 दिन पहले
i am ok with this system, i am a middle class person may be paying more tax than those rich people but the thing is the money i have is secured and only get taxed when i get paid and it is liquid so i can spend it when ever i want to and most important thing i know that if i am getting paid i will get this amount their are no insecurities but in case of those rich people, any thing can happen to their net worth they have that money today next day something happened it gone so i think law is ok , yeah government can tax more when they liquid their money otherwise i think law is ok.....
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