Made 1 billion

>made 1 billion
>pay 40% income tax
>only have 600 million

how is this fair? I wanted to be in the B club

>be English
>have to earn £1 million to become a millionaire
>Japs only have to earn £7500 to become a millionaire with their tiny dick currency

How is this fair?

You're a leaf. You're not supposed to understand big boy topics.

>made 1 billion
>pay 50% income tax because muh upper class
>only have 500 million

liberals

Tax system has to be just. Low and average wage earner have to be relieved, e.g. through an increased basic tax-free allowance. Especially rich people and financially strong companies have to be hold liable for funding public duties, because they occupy space and use ressources. This also means tax progression up to 53%, as possession inherits responsibility. In fact, we need individual taxes.

checked

How is that just?

The rich don't get anything resembling value for money from their tax spending.

They get to live in peace with their money instead of living in communism.
If you opress the working class to strong they rebel

>Fuck wallstreet!
>I support Hillary!

income tax shouldn't even be a thing in the first place. a fair system wouldn't need to tax its citizens

And they can enjoy their richness more directly, as they don't have to worry about carrying for others that much.

>make 50-70k yearly for the past 4 years online
>never paid a dime

haha they can come and get it $_$

I would point out that is not how the tax code works. The tax system is tiered in such a fashion so that you are taxed a certain amount for each bracket you have reached.

So let's take that 1 billion income and use the 2016 tax bracket for single filers. This example will not use deductions because I can't be fucked.

For the first $9275 you are taxed at 10% ($927.5)
For the next $28375 you are taxed at 15% ($4256.25)
For the next $53499 you are taxed at 25% ($13374.75)
For the next $98999 you are taxed at 28% ($27719.72)
For the next $223199 you are taxed at 33% ($73655.67)
For the next $1699 (wtf US tax code) you are taxed at 35% ($594.65)
and then finally for each dollar you earn above $415051 you are taxed at 39.6% ($395952296.7)

Leaving your total earnings before reductions and shit being $603,927,240.41

op had a rounding error of less than 1%

your weaponized autism isn't needed in this thread.

BTW you forgot the standard deduction.

see

You are a lefty
It's not about what's fair, it's about what's right.

>you left out the standard deduction
Yeah and I said that in the post. If you don't want to read what I wrote then fuck off. That post also didn't include any other reductions for a single person filing.

you said reduction :^)

You need to sacrifice stolen kids to get in the B club.

What do you mean?

I pay 75k in taxes every single year. I return I get safety; some poor fuck won't stab me because he gets some basic necessities.

Stop being so naive.

> Be billionaire
> pay taxes
> can't live off of the hundreds of millions he still has

Rich people are disgusting

>hurr durr reduction is not deduction
So if you pay less is that a reduction or a deduction fucknugget? It's both, a reduction in your tax payment.

People who earn 1 billion per year can afford things like offshore bank accounts and shell corporations that reduce their personal income tax to almost zero, taxation rates on the rich is utterly meaningless because they just evade the taxes and get away with it, worst case scenario they'll actually leave a country with high taxes(like France since the election of Hollande) and move to a tax haven

A dollar to someone who makes poverty level income is considerably more valuable to that person than a dollar to a billionaire. Whether or not you accept this as a valid premise for a graduated tax schedule is left as an exercise to the reader.

I like you. You seem like a smart individual. Please have a nice day

your tax deduction is applied BEFORE taxes as it applies to gross income which screws up your entire calculations.


Your entire post is wrong lad.

it's unacceptable. i'm fairly low income and even i think it is bullshit.

What entitlement do the poor have to the earnings of the wealthy? Is 45% of every dollar a wealthy person makes not enough?

Surely YOU pay half of your paycheck in taxes so you'd understand.

t. 1% earner.

>progressive tax system
Absolutely disgusting. Anyone who doesn't use proportional tax is a fuckin' commie!
>"I WANT RICH PEOPLE TO PAY MORE TAX!"
How is this even allowed in a civilized nation??

So you're saying the money is a ransom payment to the poor. Sounds great.

Why even work so hard to earn much, if half will be stripped for fucks who do nothing?

>Walk through the middle of Chicago at 2am and see if you get stabbed from some fuck.

>No matter how much you 'give', blacks will always want to 'take' more.

Giving tax cuts is oppressive?

Yes. That's exactly what I'm saying.

When you grow up, you'll become a realist instead of being an idealist.

I have no problem in paying more than 50% of my income in taxes since I still have more than I can reasonably spend.

Who gives a fuck. They still have 600 million and contribute to the society that allowed them to make their money in the first place.

So does all the other lazy freeloading fucktards, why would there be any incentive to help pay for it at all?

That kind of system only work in a decen human civilization... if you ever get a mass shit-tier immigration you will see what I'm talking about...

>Don't live in Chicago/Molenbeek

Problem solved :^)

But yes, here comes the problem. Tax monies should be used reasonably. I most countries, that is not the case atm

>when you grow up
That's cute. I'm not currently cucked out of 50%+ of my earnings and I'm the one that needs to grow up.

>made 1 billion
>too dumb to evade taxes
Pick one.

Thank you based tax accountant bong

Rich people have to pay me because they occupy my space and use my ressources. If he doesnt pay it is my right to just go to his fabric and say now I will build my factory here and use these ressources.

Trust me. When you live in Belgium, you can see the flip side of the coin.

You have to pay taxes to the poor so that there are people with money to buy the shit you produce.

Average dude has no purchasing power -> your factories go out of business -> YOU go broke.

You'd lose far more when the economy tanks than you do by paying taxes.

Tax accountants go to war

Seriously rich people are worthless leeches. They use my fucking ressources make profit with it and think they dont have to give something back
The day of the rope will come

I wish. I'm a chef. I'm just not retarded

Let's put it like this:

I work, pay for my house, my car, the lights, the water, etc etc

I work and pay for a place for someone else to live, their car, their light, their water, etc etc

There is the problem. It's not providing 'assistance' anymore, it's become providing a total living. And they still want MORE.

>as if anyone smart enough to make a billion dollars is going to end up actually paying 40% income tax

your excuse is acceptable

I'm not an accountant either.

I just have to deal with this tax code on a yearly basis :)

> Cuxembourg

Cucksia third world capital

Hiring an armed bodyguard would be cheaper, and now you still can get stabbed. You're being cucked.

The only fair tax is a flat tax. Not a flat tax rate, just a flat tax. As in everybody pays exactly the same amount, regardless of income. Anything else is not fair as long as the state provides the same rights and services to everyone.

>t. Polish intellectual

>I return I get safety
belgium.

>If you opress the working class to strong they rebel

>40 hours a week re-stocking a minimarket

>Too oppressed, going to complain in my iphone

>t. cuck who wants to pay for Jamal's expenses while watching him fuck your wife

By that logic, poor people should be allowed to take goods from a rich persons house, because the rich guy can buy more. Where does this stop? Should a billionaire be taxed 90% because he can love comfortably on the remaining 10%?? Do you not see how ridiculous this precedent is???

Threads like this make me lose faith in democracy, because the smartest and most well spoken people seem to have the dumbest fucking ideas.

pointless comment is pointless

t. cucked by Belgium

No one who makes a billion pays 40% tax. Probably closer to 15%. Cap gains rate is 15% and then there are deductions to things like "charity", "religion", and "art", which can conveniently be used to funnel money back to you.

It's also why any tax analysis that shows the change in people's tax rate typically ignores capital gains. Truly wealthy people love the fact that your labor is taxed at a high rate and their investments are not.

>t. Polish intelecctual

I'll do you one better.

This is the age of electronics and Internet and massive data storage devices.

The people should be able to decide themselves exactly what they will allow their tax dollars to be spent on. No broad categories like 'Welfare: Check Here'. We should get to decide down to the RACE of the people we want to help.

With this system, stupid gov spending would be annihilated and it would become much less of a concern about who is in office.

It's completely doable. Will it ever happen? Hell no.

Kek I m a high functionning NEET and I want to live frugally off my hard earned money that I earned by letting you use my ressources

Tiny dick currency masterrace.

I have hundreds of millions in the bank

The only fair tax is a flat tax. No one deserves to have more of their money taken away because some of some jealous fuck who wants more to fund their gibs.

>pay taxes
Why

This is just Federal, we can add state tax on top of this but that changes from state to state.

yeah this is why i just collect autism bucks. Best way to beat the system

I thought about this too. To be honest, I don't care about the race of the people who get welfare, since I'd always put a big, fat 0 in this category.
That would be great. Maybe one day someone will make this their program.

>Your space and your resources

So where's the receipt of ownership? And are they not citizens of the country like you and entitled to the same freedoms? Or does simply having more money than you negate this fact because of your jealousy?

Don't give them your money then. Unless its the state taking it from you but then rich people arent your problem

I put in my post that I wasn't including deductions. Read the fucking post before you talk shit mate. Please keep in mind that the "Standard Deduction" is a catch-all and if you actually itemised your tax bill you'd get more off of it. Why am I having to teach you about your shitty tax code? I mean that second to last tax bracket makes no sense

Actually pointing out the tax code BEFORE you take tax deductions and other ways of weaselling out of your taxes makes my comment redundant?

Coke tastes like a flat Dr. Pepper. Pepsi tastes like a flat Coke.

This is why I find it hilarious when liberals claim we don't pay enough taxes to begin with when if you add up fed, state, city, county, along with other taxes like property, utility, sales, ect. you'd realize we're getting jewed out of more money than the cucks in Europe and those fags want us to pay MORE.

Fuck themlegar ncisco

It's because you people are retarded, you can stop working with 500kk in the bank

I only need to learn two min wages to earn a million monthly
I usually earn from 5 to 6 minimum wages
lmao @ u

>Hurr durr didn't include State taxes
Yeah because I have the time and inclination to include 50 states worth of tax code ON TOP of the mathematics for your federal level shit. You guys should look at the UK code. Way easier, but then again we add sales tax on to the price before we get to the check out counter

Maybe in a shithole like your country you can live off 500k but in America you'd barely live off that for a year.

>500kk is 500k
I see you never played Diablo

500 million you uneducated retarded nigger

also your median wage is 50k/year i guess the states are filled with nothing but poor people

Not a big fan of Western RPGs outside of Elder Scrolls and Fallout

read

You can live like a fucking king in here with just 50k, the US is overpriced. People wonder why companies leave when they have to pay factory workers a fortune for the same work.

But the tax system in the modern world is designed to raise funds to pay for public services such as the police and the fire service as well as things like the military. Unless you don't want those things I guess.

>produce wealth
>satisfy your fellow humans' desires
>earn more money accordingly
>people think you actually need to pay more of a "fair share" to society than people who have created less wealth and satisfaction
It's lunacy. It's not even appreciated considering how reviled rich people are.

>Columbia

bruh, you have hot women and all but your country is a shithole. First world countries cost more to live in.

he's full of shit, the president makes 400k/year, so according to that retard you can barely get by on a presidential salary, while the median is 50k/year and their minimum wage is 20k/year

There's a reason why all these rich people don't go and live on an island together so they don't have to pay any tax. They need the society that they pay tax to so that they may generate their wealth in the first place.

It's not about paying taxes, it's about how we're taxed and governments don't use all of that revenue to fund those public services. They use it as a slush fund for their stupid shit or for pointless programs. So the "well the government gives you services" argument is weak because they certainly don't need to take out what they due to fund that shit and the service they do offer is shit regardless. I live in Michigan and our roads are absolutely fucked, My tax dollars hard at work for sure

I prefer white woman but thank you :)

>Why even work so hard to earn much?

Gee, I don't know...the $500 million?

Retard.

>Make 1 billion
>450 million after tax
>get taxed more if i actually spend the money

So you know the expenditures of every part of your government and services? I mean you guys spend more on the military than the next 10 biggest economies. If you could cite some sources that would be great, but otherwise it's anecdotal and I will not accept it

See

Umm, many of them already do Kiwi. There's many island havens out there where rich people just set up shop and operate their businesses overseas from there just to avoid the taxes.

And the society bullshit is weak because it's not like those people are just sucking up money. They operate businesses that offer up products and require mutual exchange in order to turn a profit. if they have money, it's because they offered a service or product people wanted. You don't get to say, "well you took advantage..." Of fucking what? Giving people something they wanted?

Nobody who makes 1 million a year gets it from standard income, that's all equity and capital gains.

> le military spending meme

When you buy something for the military it has to be made in a plant that hires 100% Americans, whose business ties are 100% American, who meet a slew of regulations, and this is carried all the way down the chain.

There is no shortcut in the system. Japan makes a large volume of carbon fiber. American defense contractors cannot buy Japanese carbon fiber.

When you are paying American wages through and through, American benefits, the prices required to extract American resources governed by an American Environmental Protection rights, etc. things get expensive. Then, because of the amount of money involved there auditing agencies. These have to follow similar rules, with obscene data management requirements.