Quote (excellence @ Sep 28 2020 10:25am)

Thats profit defined as a transaction ie: i sold my house/stocks at a profit, which i pay taxes on. this is fine and how it is now and should be

the wealth tax will be like this: you own 500 shares of company xyz, which goes up 50% in stock price this year. you have to pay a tax on this balance because your net worth went up even though you conducted zero transactions to realize a profit

and yeah the tax system is so complicated which is why it boggles the mind when people argue against simplifying it for increased transparency

Quote (ofthevoid @ Sep 28 2020 09:51am)

Yep, mostly the same as other politicians. Curious why are you only holding Trump responsible and not congress, many of them who spent decades in congress and actually have had unlimited opportunities to change tax law. You do know that congress is responsible for creating/changing laws right?

Quote (Thor123422 @ Sep 28 2020 12:05pm)

I'll hold them all to this standard, most of them, Democrats included, aren't interested in fixing these problems.

I'm not the one holding them to different standards. I've called out the behavior of both parties being corporatists for nearly a decade now.

However, you and other Trump supporters have been pretending for almost 4 years now that Trump isn't that, when he clearly is.

Quote

The Bidens did pay themselves “salaries” from their corporations—CelticCapri Corp. and Giacoppa Corp.—of nearly $750,000 between them over two years, and they paid full taxes on that income. But they circumvented the payroll tax on the nearly 95% of their income that remained. A tax expert interviewed by the Journal in 2019 called the Bidens’ scheme “pretty aggressive”; another told the paper it served solely to avoid the payroll taxes.
Of the taxes the Bidens avoided, 2.9% of their income, around $385,000, would have funded Medicare. The other 0.9%, nearly $120,000, was part of ObamaCare and fund that law.
According to the Urban Institute, a couple featuring one high earner and one average earner, retiring this year, will have paid a total of $209,000 in Medicare taxes during their working lives. The Bidens avoided paying nearly twice that much in Medicare taxes during two years. The maximum payroll tax affected by Mr. Trump’s suspension is $1,984—less than 1/250th of the amount the Bidens avoided in 2017-18.
The Bidens didn’t avoid any Social Security tax, which applied only to the first $127,200 of income in 2017 and $128,400 in 2018. But they would under Mr. Biden’s tax plan, which would impose the 12.4% Social Security tax on income over $400,000; the same loophole he used in 2017-18 would shield him from his own tax. And how can Mr. Biden claim to protect Medicare and ObamaCare when he avoided more than $500,000 in taxes that fund the two programs?

Quote (Goomshill @ Sep 28 2020 12:19pm)

https://www.wsj.com/articles/how-the-bidens-dodged-the-payroll-tax-11597083162 -- http://archive.is/QgcHn
https://www.cnbc.com/2019/08/06/joe-biden-used-this-strategy-to-trim-his-tax-bill-you-can-too.html

So apparently the WSJ previously did an expose on how Joe Biden dodged his federal income taxes on his millions earned from book deals in 2017-2018 using legal loopholes like Trump
Before going on a speaking tour and releasing books, Joe & Jill Biden established a pair of shell S-corporations called CelticCapri and Giacoppa that they then used to report all their earnings those years instead of reporting it as personal income, and instead of classifying it as wages through the corporation they declared it as distributions which aren't subject to the 15.3% social security and medicare tax (obamacare). First its listed as the business earnings, then only a small % is paid as wages and the rest as "reasonable compensation" distributions for the 'services rendered', ie the entirety of why the shell corporation exists, the book deals & speaking tours, which then accounts for the other 99%

Quote (ofthevoid @ Sep 28 2020 11:26am)

No one cares. Mainstream media say only Trump bad man, therefore simps only focus on that.

Quote (Thor123422 @ Sep 28 2020 12:30pm)

More like we all understand politicians are politicians but theres a vocal group that thinks the president isn't so we feel the need to correct them with examples.

Quote (ofthevoid @ Sep 28 2020 11:36am)

All politicians are bad but here is a headline after headline highlighting that orange man is bad few weeks before an election. That's what media fairness looks like in 2020.