Biden to Propose New “Billionaire Minimum Income Tax” of 20 Percent

And who fucking cares. Are we gonna worship the elites or are we gonna build a society where the top also pays its fair share. Am tired of the constant abuse of loopholes and the mere existence of them all for the exclusive benefit of the elites. Top earners in Europe get taxed to hell and yet their societies are striving. Did you check where almost ALL of the most recent super yachts were built? Not in Miami. Not in Hong Kong. But it high tax domiciles. Pure pieces of art and engineering wonders. And the list goes on. Coincident, the same places in Europe provide the world's best medical services to an entire middle class. Have you checked how long people in North America on average have to wait for a mammography or an MRI? It's ridiculous. Tired of worshipping the elites and their lobbyists.

61% of Americans paid no federal income tax in 2020. Just because you work doesn't mean you pay the income tax. You're forgetting about the deductions. (https://www.cnbc.com/2021/08/18/61p...ome-taxes-in-2020-tax-policy-center-says.html)

The bottom earners in Europe also get taxed more than in the US. Europe also pays relative nothing towards defense spending which is why the US might potentially get dragged into what might be the 3rd European war in 100 years (yes, I know Japan brought us into the 2nd world war, but the 2nd world war started long before that in Europe and they were allied with the Germans). Europe also has a VAT and US has no national sales tax. In Ireland for example, only the first 1650 euros of income are excluded. (https://en.wikipedia.org/wiki/List_of_countries_by_tax_rates) After that, you're paying 20% for the lowest threshold. Then a 23% VAT tax on goods, 9-13.5% on services regardless of income. There should be no income tax, just raise the revenue through a national sales tax. Exclude healthy food and a few other things from the tax. Tax luxury goods, dining, and entertainment at a higher rate. The wealthy spend more anyway so will pay more taxes. If they don't, then that money will be invested and provide a productive benefit to society.

The US is not North America. People in Canada have been dying waiting for treatment for a long time. That's a feature of their socialized medicine program and nothing new...one of the reasons why the elites there (Danny Williams, head of Newfoundlander for example) and from other countries come to the US for better care. (https://www.fraserinstitute.org/sites/default/files/effect-of-wait-times-on-mortality-in-canada.pdf)
 
I am all in for a flat tax, without any deductions whatsoever.

But your socialized medicine comment is nonsense. You guys always avoid looking at the working examples. Japan has socialized medicine. It works perfectly well. So does Germany. So does Switzerland. And I can name you 10 other countries. Why you never look at the examples that made it work? Always compare with failures. It's as if your benchmark is deliberately set low.

61% of Americans paid no federal income tax in 2020. Just because you work doesn't mean you pay the income tax. You're forgetting about the deductions. (https://www.cnbc.com/2021/08/18/61p...ome-taxes-in-2020-tax-policy-center-says.html)

The bottom earners in Europe also get taxed more than in the US. Europe also pays relative nothing towards defense spending which is why the US might potentially get dragged into what might be the 3rd European war in 100 years (yes, I know Japan brought us into the 2nd world war, but the 2nd world war started long before that in Europe and they were allied with the Germans). Europe also has a VAT and US has no national sales tax. In Ireland for example, only the first 1650 euros of income are excluded. (https://en.wikipedia.org/wiki/List_of_countries_by_tax_rates) After that, you're paying 20% for the lowest threshold. Then a 23% VAT tax on goods, 9-13.5% on services regardless of income. There should be no income tax, just raise the revenue through a national sales tax. Exclude healthy food and a few other things from the tax. Tax luxury goods, dining, and entertainment at a higher rate. The wealthy spend more anyway so will pay more taxes. If they don't, then that money will be invested and provide a productive benefit to society.

The US is not North America. People in Canada have been dying waiting for treatment for a long time. That's a feature of their socialized medicine program and nothing new...one of the reasons why the elites there (Danny Williams, head of Newfoundlander for example) and from other countries come to the US for better care. (https://www.fraserinstitute.org/sites/default/files/effect-of-wait-times-on-mortality-in-canada.pdf)
 
I know of many Canadians who travel to Germany to get surgeries performed. The health care system in Canada is absolute shit. And it is in the US as well for anyone who does not earn 200k or more. Get your facts straight. Statistics don't lie.
How many is many and what type of surgeries.

I have made use of the Canadian healthcare system with stellar results. I have been treated very succsesfully for cancer. Other family members have also had emergency procedures. All at no cost and in a timely manner.
Granted for non life threatening procedures there are long waiting times but the number of Canadians who have gone bankrupt because of healthcare expences is close to nill.
 
Rich = anyone who does not have to worry in the slightest about Healthcare or retirement due to earning enough income. Depending on the living cost of certain regions that can be 200k or 400k and up.

But the main point is to remove the damn deductions and loopholes. Tax EVERYTHING as income, everything.

Define the rich and what loopholes are created specifically for them? Now my question, why govt can't run successful profitable business?
 
So again, we have to look at the bottom and worst possible outcomes and if they don't materialize then "we" are doing great? MSP in BC is absolute shit, and I know over 30 people right now that undergo cancer treatment and the wait times for CT or MRI , while manageable, are looong. And as you said, it gets much worse for non life threatening diseases. Average wait times in walk in clinics often times 3 hours or more. Access to family doctors? Ha, lol, nope. Not sure which province you are living at but in BC Healthcare is the lowest I have ever experienced in any developed economy.

How many is many and what type of surgeries.

I have made use of the Canadian healthcare system with stellar results. I have been treated very succsesfully for cancer. Other family members have also had emergency procedures. All at no cost and in a timely manner.
Granted for non life threatening procedures there are long waiting times but the number of Canadians who have gone bankrupt because of healthcare expences is close to nill.
 
What are the chances this actually ends up as a raise in taxes for the middle class?
%%
Tough question.
But in an election year, [with 2021 taxes over/LOL] \ looks like about 0.000 % chance of that billionaire/middles class tax raising . IF you are a billionaire or middle class in MD you just got your gasoline tax cut\:D:D.
 
So again, we have to look at the bottom and worst possible outcomes and if they don't materialize then "we" are doing great? MSP in BC is absolute shit, and I know over 30 people right now that undergo cancer treatment and the wait times for CT or MRI , while manageable, are looong. And as you said, it gets much worse for non life threatening diseases. Average wait times in walk in clinics often times 3 hours or more. Access to family doctors? Ha, lol, nope. Not sure which province you are living at but in BC Healthcare is the lowest I have ever experienced in any developed economy.
I'm in BC. From the time I was diagnosed to start of treatment for cancer was days.
Mother had a stroke a few years back. 29 days in hospital with excellent care, no cost.
I do know there are delays. Caused mainly by bureaucracy. (my opinion)
 
.lso how do you explain that some govt officials pushed by certain communities want to defund the police? Where will this money go?[/QUOTE said:
The money allotted in a budget to the police was not given by Moses on Mt. Sinai to future policemen. Not to worry. they won't give it back to you' the politicians will spend it on some worthwhile cause.
 
Back
Top