Rudy Crayola <Meth@Amphetamin.com> wrote in news:v1nap7$1uk8n$1@dont-
email.me:

> On 5/10/2024 9:40 AM, Baxter wrote:
>> Rudy Crayola <Meth@Amphetamin.com> wrote in news:v1kaih$15v33$1@dont-
>> email.me:
>>
>>> On 5/9/2024 6:42 PM, Baxter wrote:
>>>> Frank <"frank "@frank.net> wrote in news:v1irbv$o1es$1@dont-
email.me:
>>>>
>>>>> On 5/9/2024 10:59 AM, Baxter wrote:
>>>>>> "Scout" <me4guns@verizon.removeme.this2.nospam.net> wrote in
>>>>>> news:v1icoj$koo3$4@dont- email.me:
>>>>>>
>>>>>>>
>>>>>>>
>>>>>>> "Baxter" <bax02_spamblock@baxcode.com> wrote in message
>>>>>>> news:v1glnl$5bd7$1@dont-email.me...
>>>>>>>> Frank <"frank "@frank.net> wrote in
>>>>>>>> news:v1gbqr$2vqn$1@dont-email.me:
>>>>>>>>
>>>>>>>>> On 5/8/2024 11:31 AM, Scout wrote:
>>>>>>>>>>
>>>>>>>>>>
>>>>>>>>>> "Baxter" <bax02_spamblock@baxcode.com> wrote in message
>>>>>>>>>> news:v1g32h$s58$3@dont-email.me...
>>>>>>>>>>> pothead <pothead@snakebite.com> wrote in
>>>>>>>>>>> news:v1frha$3un8u$4@dont-email.me:
>>>>>>>>>>>
>>>>>>>>>>>> On 2024-05-08, Scout
>>>>>>>>>>>> <me4guns@verizon.removeme.this2.nospam.net> wrote:
>>>>>>>>>>>>>
>>>>>>>>>>>
>>>>>>>>>>>>>> And, until now, the IRS doesn't have the money/resources
to
>>>>>>>>>>>>>> go after the uber rich.
>>>>>>>>>>>>>
>>>>>>>>>>>>> Horse shit.... they have always had the resources to do so.
>>>>>>>>>>>>> The problem is the tax code is written in a manner that
>> allows
>>>>>>>>>>>>> the rich to bypass most taxation which naturally they take
>>>>>>>>>>>>> full advantage of.
>>>>>>>>>>>>>
>>>>>>>>>>>>
>>>>>>>>>>> And you're wrong - it takes manpower and court time to
collect
>>>>>>>>>>> from the uber rich.
>>>>>>>>>>
>>>>>>>>>> Yea, and look at how much they stand to get by doing so...
>> unless
>>>>>>>>>> they really don't...
>>>>>>>>>>
>>>>>>>>>> See my mom was regularly audited so much we had rules, one of
>>>>>>>>>> which was we couldn't laugh at the auditor.
>>>>>>>>>>
>>>>>>>>>> I remember the largest error she ever made.. after a 4.5 hour
>>>>>>>>>> audit and finding out that the majority of the family income
was
>>>>>>>>>> deemed legally non-taxable.. they finally reached the
conclusion
>>>>>>>>>> she had over paid by 4 cents due to cumulative rounding
errors.
>>>>>>>>>>
>>>>>>>>>> She ran a tax service and knew the tax code loopholes on how
to
>>>>>>>>>> avoid paying unnecessary income tax.
>>>>>>>>>>
>>>>>>>>>> So, yea, most of the very rich pay very little to nothing in
>>>>>>>>>> income tax because they have little to no taxable income...
>>>>>>>>>> despite how much they might make on paper.
>>>>>>>>>>
>>>>>>>>>>
>>>>>>>>>> For example. Say I own a large block of stock in a major
>>>>>>>>>> company.. now if I sell it to buy a house or such.. it counts
as
>>>>>>>>>> income and becomes taxable.
>>>>>>>>>>
>>>>>>>>>> HOWEVER if I use that stock as security for a loan and use
that
>>>>>>>>>> loan for my expenses.. well that generates a debt and isn't
>>>>>>>>>> taxable.
>>>>>>>>>>
>>>>>>>>>> Yet they have millions to spend.
>>>>>>>>>>
>>>>>>>>>> Then they get to use the interest on that loan as a deduction
in
>>>>>>>>>> the future taxable income. When they get income that would be
>>>>>>>>>> taxable.. they simply dump it into repayment of their loan
which
>>>>>>>>>> makes reduces/eliminates your 'income' and again you pay no
>>>>>>>>>> taxes.
>>>>>>>>>>
>>>>>>>>>> Yea, the IRS doesn't go after the rich, because it's not worth
>>>>>>>>>> it. Because the rich use the rules to exclude their money and
>> any
>>>>>>>>>> generation of wealth from being taxable income.
>>>>>>>>>>
>>>>>>>>>> Further they pay a fix fee each year to cover all their legal
>>>>>>>>>> issues so if the IRS or anyone else comes after them. they get
>> to
>>>>>>>>>> talk to the lawyers endlessly because it doesn't cost the rich
>>>>>>>>>> person one extra cent for running the IRS through court and
>>>>>>>>>> motions and such like until the cows come home.. and end the
>>>>>>>>>> end.. they will probably find out there was no taxable income
>>>>>>>>>> anyway.
>>>>>>>>>>
>>>>>>>>>>
>>>>>>>>>>
>>>>>>>>>>
>>>>>>>>>>
>>>>>>>>> Yet Google sez: "The top 10 percent of earners bore
>> responsibility
>>>>>>>>> for 76 percent of all income taxes paid, and the top 25 percent
>>>>>>>>> paid 89 percent of all income taxes. Altogether, the top 50
>>>>>>>>> percent of filers earned 90 percent of all income and were
>>>>>>>>> responsible for 98 percent of all income taxes paid in 2021."
>>>>>>>>>
>>>>>>>>
>>>>>>>> The rich SHOULD be the ones paying the taxes. When income taxes
>>>>>>>> were first enacted, they applied ONLY to the rich.
>>>>>>>
>>>>>>> Yep and now we are all among "the rich".
>>>>>>
>>>>>> And the conservative mantra is "tax the poor"
>>>>>> =========
>>>>>> Sen. Rick Scott (R-Fla.), the head of the National Republican
>>>>>> Senatorial Committee, released an “11-point plan to rescue
>>>>>> America” that included a proposal for all Americans to pay some
>>>>>> form of income tax, even if it was a nominal amount.
>>>>>>
>>>>>> https://rescueamerica.com/11-point-plan/
>>>>>>
>>>>>> ============
>>>>>>
>>>>>> and BTW, the Repugs are lining their own pockets with those tax
>>>>>> breaks
>>>>>>
>>>>>> https://www.vox.com/policy-and-
>> politics/2020/1/24/21078559/republicans
>>>>>> -tax-cuts- congress-profits
>>>>>>
>>>>>
>>>>> Tell us why most billionaires support democrats.
>>>>>
>>>> They don't. What ever gave you that idea?!
>>>>
>>> Maybe you should read Forbes Magazine with its list of all American
>>> Billionaires and what their affiliations are.
>>>
>>
>> IOW, you don't have a reference.
>
> Apparently you are housebound and cannot drop by the library to read
the
> current Forbes or other Business media. Perhaps you could remove your
> ignorant ass from the Newsgroups long enough to read the Forbes or
other
> financial magazines on net?
>
>
And while I'm at it I should read the encyclopaedia - and every other
book and magazine in the library to satisfy you?! You made a claim that
you can't back up.