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Liberals love to complain the rich aren't paying their fair share of taxes but that doesn't stop them from finding ways to avoid their own taxes.

abby97

abby97

HR Heisman
Sep 16, 2010
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The Blairs' London townhouse​

Thanks to a perfectly legal loophole, the duo avoided the levy because they bought the offshore company that owned the property, a firm belonging to a Bahraini minister, rather than the townhouse itself. The Blairs set up a UK company to purchase the foreign entity and promptly dissolved it once the deal was done and dusted.

Hunter Biden failed to pay between $1.1 million and $1.5 million in taxes, prosecutors say​

From CNN's Tierney Sneed, Marshall Cohen, Kara Scannell and Holmes Lybrand


Federal prosecutors gave a lengthy and detailed description of Hunter Biden's tax problems and troubled finances at Wednesday’s plea proceedings.
Biden failed to pay between $1.1 million and $1.5 million in federal taxes before the legal deadlines, prosecutors said in court.
President Joe Biden's son earlier told the court that he intends to plead guilty to two misdemeanors for not paying federal taxes on time in 2017 and 2018. A sentencing date will likely be scheduled during the plea hearing.
 
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abby97 said:

The Blairs' London townhouse​

Thanks to a perfectly legal loophole, the duo avoided the levy because they bought the offshore company that owned the property, a firm belonging to a Bahraini minister, rather than the townhouse itself. The Blairs set up a UK company to purchase the foreign entity and promptly dissolved it once the deal was done and dusted.

Hunter Biden failed to pay between $1.1 million and $1.5 million in taxes, prosecutors say​

From CNN's Tierney Sneed, Marshall Cohen, Kara Scannell and Holmes Lybrand


Federal prosecutors gave a lengthy and detailed description of Hunter Biden's tax problems and troubled finances at Wednesday’s plea proceedings.
Biden failed to pay between $1.1 million and $1.5 million in federal taxes before the legal deadlines, prosecutors said in court.
President Joe Biden's son earlier told the court that he intends to plead guilty to two misdemeanors for not paying federal taxes on time in 2017 and 2018. A sentencing date will likely be scheduled during the plea hearing.
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Bonerfarts said:
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I think you missed the point. Conservatives have always said taxes are too high and should be lowered for everyone. As a matter of fact, there are many studies that show when taxes are fair and reasonable, far fewer people cheat because they don't feel they need to.

It's the leftists that are always claiming the rich don't EVER pay enough. Despite the fact we have the most progressive tax system around so the vast majority of taxes paid are paid by the rich. If the dems really wanted the rich to pay their fair share, they would need to give the wealthy a huge tax cut.
 
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abby97 said:
I think you missed the point. Conservatives have always said taxes are too high and should be lowered for everyone. As a matter of fact, there are many studies that show when taxes are fair and reasonable, far fewer people cheat because they don't feel they need to.

It's the leftists that are always claiming the rich don't EVER pay enough. Despite the fact we have the most progressive tax system around so the vast majority of taxes paid are paid by the rich. If the dems really wanted the rich to pay their fair share, they would need to give the wealthy a huge tax cut.
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Did you not pay attention to the damage Trump's tax cuts for the wealthy did to the US? It did next to nothing for the middle class. The wealthy LOVED them though. They make out like bandits while the rest of us are supposed to be excited over crumbs. Trickle down was bullshit.
 
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abby97 said:
I think you missed the point. Conservatives have always said taxes are too high and should be lowered for everyone. As a matter of fact, there are many studies that show when taxes are fair and reasonable, far fewer people cheat because they don't feel they need to.

It's the leftists that are always claiming the rich don't EVER pay enough. Despite the fact we have the most progressive tax system around so the vast majority of taxes paid are paid by the rich. If the dems really wanted the rich to pay their fair share, they would need to give the wealthy a huge tax cut.
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The Dunning-Kruger of missing points.
 
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Post #2, can't get much quicker than that...

I don't know the details here, but if he did fail to pay taxes, is it his fault? Or did his bookkeeper pass things to his tax accountant and there was some "big" items missed.

I can't necessarily jump all over Hunter for this one, when you're slinging that much money around in a convoluted tax system, it seems like it'd be pretty easy to mess it up. His $1.5mm error is like most people's $6-10k error, which can totally happen.
 
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A tad over 50% of the population in the US pays no taxes to the IRS.
The top 1% of earners in the US pay about 70% of the taxes.
Most of us on this board are paying some level of taxes.
The folks up top are paying. We’re paying. The 52% who are not “paying anything” do in fact pay built in taxes whether they or we are aware of it or not.
 
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abby97 said:
I think you missed the point. Conservatives have always said taxes are too high and should be lowered for everyone. As a matter of fact, there are many studies that show when taxes are fair and reasonable, far fewer people cheat because they don't feel they need to.

It's the leftists that are always claiming the rich don't EVER pay enough. Despite the fact we have the most progressive tax system around so the vast majority of taxes paid are paid by the rich. If the dems really wanted the rich to pay their fair share, they would need to give the wealthy a huge tax cut.
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It's not hypocrisy if they are using perfectly legal ways of avoiding taxes but also saying this should be illegal.

Generally as a rule people are going to do what's best for themselves without breaking the law. So the law should be set up as to prevent the wealthy from dodging taxes. That's the most simple solution.

I don't blame the wealthy for their greed as much as I blame the system which allows them to expand their wealth so much at the cost of others.

To me liberals using a law they disagree with to avoid paying more in taxes is kind of like conservatives opposing the infrastructure bill but still driving on an interstate that it builds.

Or say the loan forgiveness thing went through. A conservative could oppose the loan forgiveness but still sign up for it.

You can oppose a law thinking it's bad for society but still take advantage of it because it's good for you personally.
 
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Hoosierhawkeye said:
It's not hypocrisy if they are using perfectly legal ways of avoiding taxes but also saying this should be illegal.

Generally as a rule people are going to do what's best for themselves without breaking the law. So the law should be set up as to prevent the wealthy from dodging taxes. That's the most simple solution.

I don't blame the wealthy for their greed as much as I blame the system which allows them to expand their wealth so much at the cost of others.

To me liberals using a law they disagree with to avoid paying more in taxes is kind of like conservatives opposing the infrastructure bill but still driving on an interstate that it builds.

Or say the loan forgiveness thing went through. A conservative could oppose the loan forgiveness but still sign up for it.

You can oppose a law thinking it's bad for society but still take advantage of it because it's good for you personally.
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It's not the taxpayers fault for using the system to pay as little taxes as possible, it's the system that the government intentionally created. Don't ever think this is by accident. The government has created a system that it feel benefits themselves and their donors the most. The government is also infatuated with creating winners and losers. The system is intentionally obtuse and vague so anyone can claim they were following the law while at the same time the IRS can find fault with any return, if they are so inclined.

Do you have any doubts? Why doesn't the government simply have a tax system that says, if you make X, you pay Y%, if you make Q you pay T%. It would be easy for the payers and the IRS and it would be very difficult to navigate around for cheats, but this type of system just wouldn't be as beneficial to the political class.
 
abby97 said:
It's not the taxpayers fault for using the system to pay as little taxes as possible, it's the system that the government intentionally created. Don't ever think this is by accident. The government has created a system that it feel benefits themselves and their donors the most. The government is also infatuated with creating winners and losers. The system is intentionally obtuse and vague so anyone can claim they were following the law while at the same time the IRS can find fault with any return, if they are so inclined.

Do you have any doubts? Why doesn't the government simply have a tax system that says, if you make X, you pay Y%, if you make Q you pay T%. It would be easy for the payers and the IRS and it would be very difficult to navigate around for cheats, but this type of system just wouldn't be as beneficial to the political class.
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The government isnt some abstract entity. Elected Representatives of both parties made this code.
 
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goldmom said:
A tad over 50% of the population in the US pays no taxes to the IRS.
The top 1% of earners in the US pay about 70% of the taxes.
Most of us on this board are paying some level of taxes.
The folks up top are paying. We’re paying. The 52% who are not “paying anything” do in fact pay built in taxes whether they or we are aware of it or not.
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They pay at a lower tax rate than we do. They also hide profit...which is why they don't want the IRS to have the agents they need to find where they hide it. Higher taxes on them hurt them far less than it does you and me. It's also 42% and they have 22% of the earnings.

federalbudgetinpictures.com

Do the Rich Pay Their Fair Share? - Federal Budget in Pictures

In 2012, the top 10% of income earners earned 45% of all income and paid 70% of all federal income taxes.
federalbudgetinpictures.com

Edit to say that the title here agrees with your 70% claim - saw after I posted - but then when I go into the article it says 42% so who the hell knows?
 
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abby97 said:
It's not the taxpayers fault for using the system to pay as little taxes as possible, it's the system that the government intentionally created. Don't ever think this is by accident. The government has created a system that it feel benefits themselves and their donors the most. The government is also infatuated with creating winners and losers. The system is intentionally obtuse and vague so anyone can claim they were following the law while at the same time the IRS can find fault with any return, if they are so inclined.

Do you have any doubts? Why doesn't the government simply have a tax system that says, if you make X, you pay Y%, if you make Q you pay T%. It would be easy for the payers and the IRS and it would be very difficult to navigate around for cheats, but this type of system just wouldn't be as beneficial to the political class.
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Why don't you ask the moldering corpse of Ronald Reagan, it's his administration that f@cked it all up.
 
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abby97 said:
I think you missed the point. Conservatives have always said taxes are too high and should be lowered for everyone. As a matter of fact, there are many studies that show when taxes are fair and reasonable, far fewer people cheat because they don't feel they need to.

It's the leftists that are always claiming the rich don't EVER pay enough. Despite the fact we have the most progressive tax system around so the vast majority of taxes paid are paid by the rich. If the dems really wanted the rich to pay their fair share, they would need to give the wealthy a huge tax cut.
Click to expand...

Conservatives are correct that taxes should be lowered for middle/lower classes. Conservatives are dumb thinking taxes should be lowered for the rich. They should be taxed WAY more.
 
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JRHawk2003 said:
The government isnt some abstract entity. Elected Representatives of both parties made this code.
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Ya, that's my point. Politicians and government in general, are the enemys of the people. We need to stop picking teams and embrace good ideas and good politicians, then hold them to account for the results. If they don't work, throw them out regardless what party they belong to.
 
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SSG T said:
Conservatives are correct that taxes should be lowered for middle/lower classes. Conservatives are dumb thinking taxes should be lowered for the rich. They should be taxed WAY more.
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Why? Do think penalizing success and a good work ethic or a good idea is a smart way to encourage more good ideas and performance?
 
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Jan Itor said:
If that’s the case, every administration since has failed miserably at fixing it.
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Absolutely, the problems have only been exacerbated by every administration, but mostly every Congress. It doesn't really matter though because their are enough Reagan acolytes still hanging on to keep this piece of sh!t moving forward long enough for wealth disparity to continue it's ever expanding and accelerating pace.
 
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Abby….if it is a legit “loophole” why wouldn’t a person use it? “Loopholes” are there for a reason….they are not a test of one’s morality or character…,.and they are not illegal.

If you wanna piss away your money, I can give you an e-mail address to order some Hoka’s? That is better than not using the tax laws to your advantage.
 
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abby97 said:
Ya, that's my point. Politicians and government in general, are the enemys of the people. We need to stop picking teams and embrace good ideas and good politicians, then hold them to account for the results. If they don't work, throw them out regardless what party they belong to.
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Abby, I agree with a lot of this post. What we all need to recognize is that the Billionaire class is running the show and we need to hold them accountable through transparency in our government regardless of party.
 
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I'm putting this in the "Who should be POTUS?" thread too.

But taxing the rich? Yeah, it should happen. Why? Who's getting these corporate profits? The shareholders. Who owns the biggest chunks of the shares? It isn't the poor/middle class...

 
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SSG T said:
I'm putting this in the "Who should be POTUS?" thread too.

But taxing the rich? Yeah, it should happen. Why? Who's getting these corporate profits? The shareholders. Who owns the biggest chunks of the shares? It isn't the poor/middle class...

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A great example is the Google CEO, he cuts thousands of jobs while making hundreds of millions in bonuses. It’s so f’cked.
 
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HawkNester said:
A great example is the Google CEO, he cuts thousands of jobs while making hundreds of millions in bonuses. It’s so f’cked.
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Tax the s*** out of those profits. Tax the s*** out of Bezos $59 bil he made in 2020, tax the s*** out of Gates' investment interest, tax the s*** out of Musk's investment interest, tax the s*** out of corporate profits. Either put the money back into the corporation, or we'll tax the every loving s*** out of it.
 
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Fair share is just one thing. I just want people to pay the damn taxes they owe like 99% of Americans. Rather than seeing Republican politicians bitch about the IRS raiding a business not paying taxes, perhaps they should be saying thanks for making sure the dead beats are paying their taxes.
 
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joelbc1 said:
Abby….if it is a legit “loophole” why wouldn’t a person use it? “Loopholes” are there for a reason….they are not a test of one’s morality or character…,.and they are not illegal.

If you wanna piss away your money, I can give you an e-mail address to order some Hoka’s? That is better than not using the tax laws to your advantage.
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I'm not suggesting one shouldn't take advantage of favorable tax laws. (don't be fooled, they are not loopholes, someone intentionally wrote those laws to benefit someone or some industry) My point is tax law shouldn't be a game or scam. We need to demand tax laws that are easy to understand, follow and that are fair and consistent. No one should be have to find a "loophole" to pay their taxes. Lastly, I don't agree with the demonize the rich vibe on this forum. Most rich people got that way by working hard and/or inventing something or providing a service that a lot of people want and like. That isn't a bad thing. I think most of the punish the rich rhetoric comes from a place of envy.
 
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