It is funny how those weirdos always resort to trolling when they lose an argument with irrefutable evidence. They called me a liar and I backed it up with proof and they resort to trolling. Welcome to the internets.
I am mainly referring to the other guys who trolled and called me a liar when I said they pay no income taxes. I know we jokingly argued about athletes being an exception, but it’s unfair to include an extremely limited group that can only earn over $10 million for a very short time period of their career earnings.
Seriously? What about the guy who finally gets promoted to CEO at 63? Or a lawyer who scrapes by and then lands one big case? I would wager that there aren't a lot of people who make 10mm a year for a lot of years unless it is based on gains/investment from real wealth, not income.
I will disagree with the statement that it's "unfair" to a group or class of individuals who can only earn x dollars over a "short" (what constitutes "short"?) period of time. A tax code is premised on fairness and equal treatment: if you make $10 million in a year, as some athletes do, that is actually income that should be taxed. Period. Otherwise why would we not simply pick and choose our favorite targets and make exceptions for those whom we favor. "Let's tax ugly Republicans! they suck!! and let's not tax Democrats! no, let's give them a UBI payment of a thousand dollars instead!" there is NOTHING at all that is "unfair" about taxing someone who lies within a taxable class. It is UNFAIR when one makes arbitrary exceptions based upon nothing but a bias or prejudice in favor of the one being exempted.
They can take there millions and invest or donate. Also, i am not losing sleep over some 63 year old millionaire who has to pay taxes on dollars over ten million.
Until you can scientifically prove one occupation being unable to earn over $10 million beyond 30 then we have an argument. This is not personal. It is science.
So why are athletes different? If it is the short duration of their maximum earning capability, you have been provided other examples of the same. If it is just that you like athletes more and want them to not have to pay the same in taxes as a business person, just say it.
It makes an incredible amount of difference. A person making $10+ million a year does not have any where near the tax breaks that corporations do. Please show your proof that Bill Gates and Warren Buffet don't pay any taxes. They both talk about the fact they pay.
Athletes sacrifice education and gamble on their future by investing all their time training. Their career ernings are limited based on age. Prove another occupation has limited earnings based on age. Their cap should be much higher when it comes to their salary.
I do not have access to individual tax returns and non-public companies. You are asking me to prove something no one has the ability to prove but the IRS.
Don't even know how to respond because your statement has nothing to do with fair taxation. There are lots of people, who if they are ever fortunate to make 10mm/year, may only do it one year or a handful of years. Hard to respond to a faulty logic.
I said it would be on the second consecutive year similar to the nba luxury tax. More taxes the more years you go over, the more you go over. Please provide one example of an occupation to counter my argument.
Yet you keep starting as fact individuals making $10+ million per year pay ZERO tax. Bill Gates must be a liar "Gates also said that the world’s wealthiest people only have a “rounding error” worth of actual income compared to their wealth — they don’t have a lot of salary, but instead sell stocks and other assets to raise cash, which isn’t taxed as income anyway. The top 400 earners in the US are only paying something like a 20 percent tax rate, he pointed out. “It has nothing to do with the 39.6 percent marginal ordinary income rate. So it’s a misfocus. If you focus on that, you’re missing the picture.”
