Trump is trying to raise taxes on the rich

[Madison320]

It looks like Trump is returning to his democrat roots.

"From each according to his ability, to each according to his needs"



https://thehill.com/homenews/house/5290814-trump-tax-hike-wealthy-gop-bill/

 

[acptulsa]

Because you have to use the IRS to lose it?

 

[Madison320]

Because you have to use the IRS to lose it?

We need swordsmyth to explain it

 

[CaptUSA]

Well, as long as they're taking out of that end of the bucket, it won't affect me... Oh wait.

 

[Madison320]

Well, as long as they're taking out of that end of the bucket, it won't affect me... Oh wait.

Although I never liked the selling point that tax laws against the rich are bad because they will eventually be used against the poor. I prefer the argument that it's fundamentally unfair to have laws that apply differently to different groups.

 

[Brian4Liberty]

Progressive tax system strikes back.

The problem for the GOP "leadership" and "moderates" is that they are refusing to cut a dime from spending. Thus Trump is proposing a tax increase on the ultra-wealthy to supposedly offset that "problem". Of course it is pure virtue signaling anyway, as the crony Congress will include enough loopholes for themselves and the ultra-wealthy that the "tax rate" could be 37% or 107%, it wouldn't matter.

 

[Snowball]

roflcopter go brrr.

i have a good memory.

Google's Use of PO Box 666 in Bermuda and Tax Practices​

Based on the provided sources, Google used a post office box numbered 666 in Bermuda as part of a complex corporate structure to route billions of pounds in profits annually to the island, which has a zero per cent rate of corporation tax and is described as a tax haven. The sources detail that Google had no offices or staff in Bermuda, with the PO Box 666 being the only physical evidence of its subsidiary, Google Bermuda Unlimited [1] [4]. Google Bermuda Unlimited and Google Ireland Holdings were registered at the address of a law firm in Hamilton, near the PO Box [1] [4]. Staff at the law firm and the post office where the box was located claimed to have no knowledge of Google having an office there [1] [4].

The mechanism described in the sources is known as the "Double Irish and Dutch Sandwich"

read more:

iAsk Question · Did Google hide taxes at its 666 Bermuda post office box?

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[CaptUSA]

Although I never liked the selling point that tax laws against the rich are bad because they will eventually be used against the poor. I prefer the argument that it's fundamentally unfair to have laws that apply differently to different groups.

I prefer the argument that spending is the real tax. Everything else is just a method of pulling that money out of the useful economy. Whether it's income taxes, tariffs, sales taxes, property taxes, inflation or any other means. Different groups will be more directly impacted at first, but the money is still coming out of the economy which means the poorest amongst us will feel it the most - no matter who they ultimately collect it from.

 

[Madison320]

I prefer the argument that spending is the real tax. Everything else is just a method of pulling that money out of the useful economy. Whether it's income taxes, tariffs, sales taxes, property taxes, inflation or any other means. Different groups will be more directly impacted at first, but the money is still coming out of the economy which means the poorest amongst us will feel it the most - no matter who they ultimately collect it from.

Suppose you live on a desert island with 100 people:

Scenario 1: Your government spends 100K but they levy the tax only on you and take your life savings.

Scenario 2: Your government spends 100K but they levy the tax only on you and take your life savings.