Originally published at: https://www.commondreams.org/news/2021/06/08/biggest-tax-story-year-if-not-decade-analysis-shows-just-how-little-richest-001-pay
This needs to be Widely published. It is Congress that has allowed these abuses, and they are obviously uninterested in changing them. “Taxing coroporations at a higher level would destroy the economy” according to my odious senator, Mike Crapo. As far as I’m concerned, all congressional salaries should be placed in a trust and released to them only when a fair and equitable taxation system is in place. Supporting increasing inequality when people are living on the streets and food insecure should be a Crime.
1 Like
Abolish taxes. Cap personal net worth democratically and use the excess to fund infrastructure and social needs.
1 Like
Meanwhile, they find a way to tax those who can least afford to pay. The tax system is not progressive, but oppressive.
2 Likes
this is not news–this has been going on for decades–promoted by both parties–who then take their bribes for selling the country to the capitalist criminals–these is the tax policies that BOTH parties have supported for decades–want something different??—STOP voting for any politician who takes corporate-PAC-dark or wealthy people’s money—they have been corrupted to the core and are unredeemable
1 Like
Comparing income to net worth is comparing apples and oranges. Income tax is paid on income (hence the name) not on property appreciation. I had income of about $60,000 last year but my home increased in value by $100,000. Until I sell my home I don’t pay taxes on that increase (because it may go down by $100,000 next year) Most of these billionaires don’t have that much income unless they sell something (just like my home). If you tax Bitcoin holdings for example, do you use the August 2020 value of $11K or todays value of $40K? The same with stock (or property of any kind) Any property is only worth what someone will pay for it so the value cannot be determined until a sale takes place. The tax assessor may say my home is worth $200,000, but if I list it, it may sell for more or less, depending on the buyer and the market.
Congress not only allows this, but crafted the laws for this to happen… Then they sit back and call poor people lazy because their wages are too low to tax. This has been going on for many decades. They criticize the poor while applauding the rich.
Then they justify cutting taxes for the rich telling us the rich are the job creators. While the poor through their labor make the rich more wealthy. The rich do everything they can to keep the wages low to maintain the poor. poor people are forced to fight for even the lowest wage because that is all that is available to them.
Which is why we are an oligarchy and have been. There is no such thing as a fair wage for a fair work.