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Billionaires’ low taxes are becoming a problem for the economy

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This should horrify you, if you do pay or ever have paid taxes. At least the 19th century robber barons did something for people and for the country, ruthless as they were. What do the current crop of billionaires contribute to their countries???

All I see is that they make more money...for themselves. There's no trickle-down economics happening with these fatcats.

So the fatcats contribute to both sides of an election. They use various complex contrivances to do so, PACs, Super-PACS, gifts aso. These companies then hire teams of bought-and-paid-for lobbyists who provide free gifts like vacations or other amenties to lawmakers and even judges. Bribes, in the vernacular.

The contributions of the biggest companies often go to weapons, the very opposite of contributing to society. And then they go to great lengths to grate their taxes to rock-bottom or even nothing. They have accountants and bookkeepers and staff and lawyers who get salaries for exactly that purpose.

The US is trillions of dollars in debt. Much of that comes from past, present and future wars. Of course, these wars have contributed to the economy by enriching private companies. Does that makes sense to you?!?

America has a bloated military with which to bully the rest of the world. That military costs $30,000 a second. Why does the US need 758 military bases on foreign soil? To defend us from what 'enemy'. No local enemy? Wait a sec, we'll find one! Would Americans not rather use those billions for foreign humanitarian aid? It might even keep some foreigners from desperately clawing their way to the US.

And what else does govt spend on? Deporting hard-working foreign immigrants who are raising families, working and contributing to the economy. What an excellent use of resources. Get rid of hard-working people and feed Americans SNAP cheese. <deleted> papers! It's people who really count in America!

aMost of the comments here have been from bean counters trying to dissent the secretive machinations of budgets and banks.

That's not even part of the real issue why the US is a failing state.

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  • SunnyinBangrak
    SunnyinBangrak

    Socialist govt spending too much is the issue. They ALWAYS have to blame others, because socialist govts ALWAYS run out of (other peoples)money to spend.

  • It's also a social issue, and one that even spooks "lefties" like me. The vast and increasing gap between the average person and the elite is what drives today's youth into thinking Socialism is some

  • emptypockets
    emptypockets

    Nobody has ever made a poor man rich by taxing the rich. Politics of jealousy.

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On 2/19/2026 at 10:22 AM, Alan Zweibel said:

Tax avoidance by the superwealthy is an economic issue as well as a political one

Data from the Federal Reserve shows that only the richest 1% of households have grown their share of overall U.S. wealth since 1990. Their share hit a record 32% in the third quarter of 2025, equivalent to $54.8 trillion.

Gains made by the billionaire class, the very top 0.1% of households and a subset of the 1%, have eclipsed the merely extremely rich. This group’s share of U.S. net wealth has risen nearly 6 percentage points to 14.4% since 1990.

https://www.msn.com/en-us/money/markets/billionaires-low-taxes-are-becoming-a-problem-for-the-economy/ar-AA1WzNOA?ocid=finance-verthp-feeds

Ok. And why do you think pushing your US based political agenda in Thailand to people who most likely are not significant taxpayers, let alone not even US nationals, going to change anything? Ify you feel that strongly, then get involved with actual voters in the USA. Run for office or work for a candidate in your district.

On 2/21/2026 at 5:47 PM, Yellowtail said:

The left uses tax breaks for social engineering, and then they howl when people take advantage of the tax breaks they promote.

Almost half of working people in the US pay no federal income taxes, yet the rich don't pay enough.

The midterms are coming so the left will be howling about the greedy rich and the minimum wage.

Why did Biden not raise taxes again?

Your statement just shows how little you understand about US government and law. Biden did not raise taxes because a president does not hold the pursestrings of the government (hence the recent Supreme Court ruling on Trump's tarrifs.) Congress is the only branch of the government who can write law (including tax codes.) A president signs a new law, but cannot write law. Before you start blasting your mouth off about politics, you might want to go back, read and understand how the US government works.

1 minute ago, Issan girl said:

Your statement just shows how little you understand about US government and law. Biden did not raise taxes because a president does not hold the pursestrings of the government (hence the recent Supreme Court ruling on Trump's tarrifs.) Congress is the only branch of the government who can write law (including tax codes.) A president signs a new law, but cannot write law. Before you start blasting your mouth off about politics, you might want to go back, read and understand how the US government works.

Your statement just shows how little you know about US government and law. Democrats held the House and Senate for Biden's first two years. Did you forget that or did you never know it?

Democrats had the White House, the Senate, and the House of Representatives and did not raise taxes. Now they want to howl that taxes are too low.

There is a box on your1040 (assuming you file) that allows you to pay more if you think you are not paying enough.

But leftists never really want to pay more taxes, they only ever want other people to pay more taxes.

  • Popular Post
4 minutes ago, Yellowtail said:

Your statement just shows how little you know about US government and law. Democrats held the House and Senate for Biden's first two years. Did you forget that or did you never know it?

Democrats had the White House, the Senate, and the House of Representatives and did not raise taxes. Now they want to howl that taxes are too low.

There is a box on your1040 (assuming you file) that allows you to pay more if you think you are not paying enough.

But leftists never really want to pay more taxes, they only ever want other people to pay more taxes.

Your side seems to think that using the term "leftist " or "woke" automatically nullifies anything anyone else points out. Now I do understand that these terms often used by your "dear leader" have gained traction in your circles, but please define what a "leftist" really is or what the word "woke" really means.

9 minutes ago, Issan girl said:

Your side seems to think that using the term "leftist " or "woke" automatically nullifies anything anyone else points out. Now I do understand that these terms often used by your "dear leader" have gained traction in your circles, but please define what a "leftist" really is or what the word "woke" really means.

And using the term your dear leader has gained traction in your circle. Im sure it will be replaced at some point to something more weird.

Quite fiesty for such a new old member. Will you come clean.

Ps I live in my own circle.

  • Popular Post
49 minutes ago, unblocktheplanet said:

This should horrify you, if you do pay or ever have paid taxes. At least the 19th century robber barons did something for people and for the country, ruthless as they were. What do the current crop of billionaires contribute to their countries???

All I see is that they make more money...for themselves. There's no trickle-down economics happening with these fatcats.

So the fatcats contribute to both sides of an election. They use various complex contrivances to do so, PACs, Super-PACS, gifts aso. These companies then hire teams of bought-and-paid-for lobbyists who provide free gifts like vacations or other amenties to lawmakers and even judges. Bribes, in the vernacular.

The contributions of the biggest companies often go to weapons, the very opposite of contributing to society. And then they go to great lengths to grate their taxes to rock-bottom or even nothing. They have accountants and bookkeepers and staff and lawyers who get salaries for exactly that purpose.

The US is trillions of dollars in debt. Much of that comes from past, present and future wars. Of course, these wars have contributed to the economy by enriching private companies. Does that makes sense to you?!?

America has a bloated military with which to bully the rest of the world. That military costs $30,000 a second. Why does the US need 758 military bases on foreign soil? To defend us from what 'enemy'. No local enemy? Wait a sec, we'll find one! Would Americans not rather use those billions for foreign humanitarian aid? It might even keep some foreigners from desperately clawing their way to the US.

And what else does govt spend on? Deporting hard-working foreign immigrants who are raising families, working and contributing to the economy. What an excellent use of resources. Get rid of hard-working people and feed Americans SNAP cheese. <deleted> papers! It's people who really count in America!

aMost of the comments here have been from bean counters trying to dissent the secretive machinations of budgets and banks.

That's not even part of the real issue why the US is a failing state.

It is quite logical for billionaires to be funding far-right politicians. That's who they get their tax cuts from. Musk put $300 million into Trump's campaign out of self-interest.

The same billionaires know any government with socialist leanings is going to make them pay their fair share of taxes. For most, more is never enough, less is failure.

Australia has had socialist governments on and off since Federation. Our medications cost a few dollars, not the thousands Americans are milked by Big Pharma every day.

Americans are brainwashed from birth socialism is akin to leprosy. It's why 4 or 5 multi-billionaires control more wealth than half the population.

Just now, Issan girl said:

Your side...

My side is the United States. How about you?

Just now, Issan girl said:

seems to think that using the term "leftist " or "woke" automatically nullifies anything anyone else points out. Now I do understand that these terms often used by your "dear leader" have gained traction in your circles, but please define what a "leftist" really is or what the word "woke" really means.

You post this bit of drivel because you are unable to actually address what I said. It is classic defection. You are the one refusing to address what has been said.

You claimed: "Biden did not raise taxes because a president does not hold the pursestrings <sic> of the government (hence the recent Supreme Court ruling on Trump's tarrifs. <sic>) Congress is the only branch of the government who can write law"

I responded with: "Democrats had the White House, the Senate, and the House of Representatives and did not raise taxes. Now they want to howl that taxes are too low."

Your response was to deflect and whine. If you do not want to have an honest discussion, just stick to conversing with other know-nothings.

3 minutes ago, Lacessit said:

It is quite logical for billionaires to be funding far-right politicians. That's who they get their tax cuts from. Musk put $300 million into Trump's campaign out of self-interest.

The same billionaires know any government with socialist leanings is going to make them pay their fair share of taxes. For most, more is never enough, less is failure.

Australia has had socialist governments on and off since Federation. Our medications cost a few dollars, not the thousands Americans are milked by Big Pharma every day.

Americans are brainwashed from birth socialism is akin to leprosy. It's why 4 or 5 multi-billionaires control more wealth than half the population.

There are more billionaires that support the left in the US than the right, though quite a few are defecting since the Biden debacle.

Democrats have been the party of the rich, and the subsidized poor.

4 minutes ago, Yellowtail said:

There are more billionaires that support the left in the US than the right, though quite a few are defecting since the Biden debacle.

Democrats have been the party of the rich, and the subsidized poor.

In Australia, what you call the left would be regarded as right of centre. You are not even on the same playing field.

Just now, Lacessit said:

In Australia, what you call the left would be regarded as right of centre. You are not even on the same playing field.

In the US, what you call liberty, we call tyranny.

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  • Popular Post
43 minutes ago, Yellowtail said:

Your statement just shows how little you know about US government and law. Democrats held the House and Senate for Biden's first two years. Did you forget that or did you never know it?

Democrats had the White House, the Senate, and the House of Representatives and did not raise taxes. Now they want to howl that taxes are too low.

There is a box on your1040 (assuming you file) that allows you to pay more if you think you are not paying enough.

But leftists never really want to pay more taxes, they only ever want other people to pay more taxes.

Stop making things up. As I pointed out to you earlier, taxes did rise under Biden. They were also raised under Obama and Clinton. Biden's problem was he had very narrow majorities to work with so the defection of two democratic senators stopped him from raising taxes more than he wanted to. So hedge fund managers among others got to keep their ill gotten tax breaks. On the other hand, tThe republicans, in a remarkable display of solidarity given their small edge in the house and senate, and despite their howls about the rising deficit and national debt, did manage to lower taxes..

And it's worthwhile to point out that in Clinton's last year in office the budget actually managed to produce a slight surplus. George Bush soon took care of that with his massive tax cuts. You're going to blame the democrats for that too?

On 2/19/2026 at 6:03 PM, JimCM said:

Could there be a link to Israel and tax breaks, given that over a third of US billionaires are Jewish.

https://constitutionalstudies.ning.com/m/discussion?id=6585610%3ATopic%3A428352

Not true, less than 20% are jewish billionaires.

23 minutes ago, Alan Zweibel said:

Stop making things up. Aspay I pointed out to you earlier, taxes did rise under Biden. They were also raised under Obama and Clinton. Biden's problem was he had very narrow majorities to work with so the defection of two democratic senators stopped him from raising taxes more than he wanted to. So hedge fund managers among others got to keep their ill gotten tax breaks. On the other hand, tThe republicans, in a remarkable display of solidarity given their small edge in the house and senate, and despite their howls about the rising deficit and national debt, did manage to lower taxes..

And it's worthwhile to point out that in Clinton's last year in office the budget actually managed to produce a slight surplus. George Bush soon took care of that with his massive tax cuts. You're going to blame the democrats for that too?

Oh yeah, he raised corporate taxes, which consumers have to pay, which makes them regressive. Great job lefty!

Oh, and he increased the number of federal employees by ~6% and increased federal workers pay by ~10%.

  • Author
12 minutes ago, Yellowtail said:

Oh yeah, he raised corporate taxes, which consumers have to pay, which makes them regressive. Great job lefty!

Oh, and he increased the number of federal employees by ~6% and increased federal workers pay by ~10%.

Funny. Ordinarily I would say somebody is mistaken. But since you claimed that these people didn't raise taxes and now you're counting with that they did. It doesn't exactly speak well of your fidelity to truth does it?

This is so ridiculous. As any serious Economist will tell you, and as I point it out to you at some length before, it's not at all the case that corporations can pass on the full cost of taxes. Sometimes I have to settle for lower profits. And what makes your comment extremely ridiculous is that what you're saying is instead of taxing corporations consumers should be taxed. How exactly does that benefit them?

  • Author
17 minutes ago, Yellowtail said:

Oh yeah, he raised corporate taxes, which consumers have to pay, which makes them regressive. Great job lefty!

Oh, and he increased the number of federal employees by ~6% and increased federal workers pay by ~10%.

And by the way, Obama did impose a big tax increase on capital gains.

Edit: I didn't check my dictation and my phone heard didn't instead of did. To be clear Obama raise capital gains taxes.

  • Popular Post
48 minutes ago, Yellowtail said:

In the US, what you call liberty, we call tyranny.

In 30 years, Australia has had 7 mass shooting incidents. Since 2014, America averages 600-700 per year.

We don't have to train our schoolkids how to avoid getting shot in school.

You may call that liberty. I call it idiocy.

1 hour ago, Yellowtail said:

There are more billionaires that support the left in the US than the right, though quite a few are defecting since the Biden debacle.

Democrats have been the party of the rich, and the subsidized poor.

The rich hire Mexicans for cheap labor. They also receive government contracts.

  • Popular Post

It was clear from beginning that the "Big Beautiful Bill" would make the richest richer.

Over the next decade, the Big Beautiful Bill (BBB) will cut taxes for the richest 10 percent of Americans by more than $14,700 per year per household and cut taxes for the richest 1 percent of Americans by more than $50,000 per year, according to estimates from the nonpartisan Congressional Budget Office (CBO) and Joint Committee on Taxation (JCT).

Make America Poor Again...

1 hour ago, Alan Zweibel said:

Funny. Ordinarily I would say somebody is mistaken. But since you claimed that these people didn't raise taxes and now you're counting with that they did. It doesn't exactly speak well of your fidelity to truth does it?

I asked why Biden did not raise taxes, I did not state it as a fac at, but in any event. I was mistaken.

Changing my position when I am shown to be wrong speaks to my fidelity to the truth, not against it.

1 hour ago, Alan Zweibel said:

This is so ridiculous. As any serious Economist will tell you, and as I point it out to you at some length before, it's not at all the case that corporations can pass on the full cost of taxes. Sometimes I have to settle for lower profits.

It is amusing that you argue that corporations will pass on the tariffs (a tax) to the consumer, but that they will not pass corporate income taxes on to the consumer. You can't have it both ways.

1 hour ago, Alan Zweibel said:

And what makes your comment extremely ridiculous is that what you're saying is instead of taxing corporations consumers should be taxed. How exactly does that benefit them?

The consumer bears virtually every cost a corporation incurred producing the product. And every time the product changes hands, the cost of the tax is marked up. Manufactured, wholesaler and retailer are all taxed, they all pass the tax along, and they all mark the tax up. Hideously regressive taxes.

What makes your position "extremely ridiculous" is that what you're saying is instead of taxing the rich, we should effectively apply a regressive consumption tax that disproportionately hurts the poor.

This is just another example of the rich benefiting on the backs of the poor.

1 hour ago, Schoggibueb said:

It was clear from beginning that the "Big Beautiful Bill" would make the richest richer.

Over the next decade, the Big Beautiful Bill (BBB) will cut taxes for the richest 10 percent of Americans by more than $14,700 per year per household and cut taxes for the richest 1 percent of Americans by more than $50,000 per year, according to estimates from the nonpartisan Congressional Budget Office (CBO) and Joint Committee on Taxation (JCT).

Make America Poor Again...

How does taxing people less make them poorer?

17 minutes ago, Schoggibueb said:

@Yellowtail

You are on my ignore list. I don't feed trolls.

Just knock it off.

I don't blame you, knife to a gunfight and whatnot.

Go with God brother, come back when you're able to formulate an argument.

On 2/24/2026 at 5:24 AM, JBChiangRai said:

Borrowing isn't taxable income. You can borrow against assets and spend the money as if it were income without paying tax on the money.

At some point you have to pay back the loan with a source of income. Right?

7 hours ago, unblocktheplanet said:

This should horrify you, if you do pay or ever have paid taxes. At least the 19th century robber barons did something for people and for the country, ruthless as they were. What do the current crop of billionaires contribute to their countries???

Lots of job Most of the valuation is in the huge companies they founded.

5 hours ago, Schoggibueb said:

It was clear from beginning that the "Big Beautiful Bill" would make the richest richer.

Over the next decade, the Big Beautiful Bill (BBB) will cut taxes for the richest 10 percent of Americans by more than $14,700 per year per household and cut taxes for the richest 1 percent of Americans by more than $50,000 per year, according to estimates from the nonpartisan Congressional Budget Office (CBO) and Joint Committee on Taxation (JCT).

Make America Poor Again...

How is this making America poor?

6 hours ago, Issan girl said:

Your side seems to think that using the term "leftist " or "woke" automatically nullifies anything anyone else points out. Now I do understand that these terms often used by your "dear leader" have gained traction in your circles, but please define what a "leftist" really is or what the word "woke" really means.

Says the person who used "Dear Leader".

6 hours ago, Lacessit said:

The same billionaires know any government with socialist leanings is going to make them pay their fair share of taxes. For most, more is never enough, less is failure.

How much does a billionaire make in taxable income?

7 hours ago, unblocktheplanet said:

The US is trillions of dollars in debt. Much of that comes from past, present and future wars. Of course, these wars have contributed to the economy by enriching private companies. Does that makes sense to you?!?

This is not based in facts

Who did what isn't difficult to figure out. An additional 2 trillion on the debt isn't hard to figure who and why. Cut spending, especially on the military (America hasn't a problem with defending the homeland) saves money. Teaching the rich is a good aim but managing spending is good too

spending by party.jpeg

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