Trump please give people like this a huge tax cut on day one

because they are hurting for money.

https://www.yahoo.com/entertainment/magrittes-empire-light-sells-record-170215031.html

I dont care what rich spend their money on, but shit like this goes to show how little they pay. On a personal belief, this person could have used that 6.2 million to help so many people and animals.  Human race is becoming trash.  When is that ghost in the sky finally gonna show up here on earth?  lolll.  Oh wait he sent his second son here to save the world

WALMART said yesterday families should expect to pay an extra 2500 or more a year for stuff with trumps tariffs.  Hope all the trumpers love munching on those numbers

$2,500?  I'll take it, it's less than the $4,800 the Big Guy charges me

Thats 2600 or more from the prices you pay now.

@cd329

 Modern art is a total scam, and is often used for money laundering. I just watched a documentary on Leonardo de Vinci on PBS. It also talked about his sometimes rival, Michaelangelo. Simply cut from cloth. I think Banksy is amazing. Warhol was amazing. Basquiat. Most of these modern guys are total hacks though.

I see this as a new age of us agreeing on things. 6.2 million could've been put to better use.

Retailers are tabulating price increases before a comprehensive plan for tariffs has even been released. Just making it up as they go along. Trump's tariff price increases will be like Biden's inflation price increases. Mostly corporate greed.

@cd329

 this goes to show how little they pay

Can you break it down?  
How ‘little’ do they pay?

I wish that i could have bet every penny i have on a post like this appearing.

I'll check my spread sheets,lolllll.

When warren buffett says there is no reason why his secretary should pay more taxes then he does, i have to agree something is wrong.  But you go right ahead and keep defending rich.  Dont worry all those huge tax cuts for the rich are gonna trickle down sooner of later, reagan said so .  Hope i get to see it in my lifetime.

He was incorrect.  His secretary did not pay more taxes than he did. 

Not defending — just stating facts.

What ‘huge tax cuts for the rich’?

What do you want to do, give tax cuts to the 40+% that do NOT pay taxes?

So, again — break it down.  
How ‘little’ do they pay?

The top 10% earners pay close to 80% of the total income tax collected!!  How much more is fair for fucks sake?  There's an hysterical percent of people that pay ZERO income tax.  Start collecting from those people.

What percentage of income do the top 10% account for? I think most people when complaining about tax cuts for the rich are talking about corporate taxes, gains taxes, etc.

They aren’t.  
They are simply complaining, in general.  
They do not understand the numbers or do not care. 
If the capital gains were raised to the highest wage income levels — they would still bellyache. 
People want the government to give them things — so by that, they want rich people to give them things.  
40+% pay no income tax. 
So, some of that number are lazy folks being carried and not just older retired, productive folks.  

https://www.oxfamamerica.org/explore/stories/do-the-rich-pay-their-fair-share/

tons more articles out there on the net about what the rich pay.    Guess when the orange billionaire leader only paid 7k in taxes, that was his fair share.  Gotta, good to know.

Blame our more laissez fair approach to capitalism we have employed in recent decades. The chasm between the have nots is ever growing, and more the ever the deck is stacked against the commoners. Wages have not increased commensurate to true cost of living increases, to increases in corporate profit, etc. for decades. The schmucks who thing they want something for free are becoming a peasant class that will be living in Amazon company housing while working for Amazon scrip in about 5-10 years. The ones left holding the bag are those if us left in the middle. Sure, we're homecowners. Maybe we own investment property. Maybe we've seen some nice gains on some of our. investments. Crypto. Cinderella stocks like Nvidia, Netflix, etc. We thing we're doing something. What would've been considered moderately wealthy a generation or two ago is really just middle class now. What was middle class is borferline really just the working poor now.

@StumpTownStu

 I get what you are saying.  But wholeheartedly disagree.  
The deck favors commoners if they want to make it happen.  
People too easily have a defeatist attitude and then blame the ‘man’, ‘system’, and etc.

If folks plan and live within their means starting out and get a skill or education they can do fine.  

It is the folks that do not do this that look for the excuses and reasons why they cannot get ahead. 

@cd329

 So, what did the article tell you?

Are you able to break it down on ‘how little they pay’?

Then we can move to ‘their fair share’.

Two different issues. 

@Raiders22

 So basically I would support a flat income tax in retern for less corporate tax breaks, less subsidies. Taxes on gains can actually be pretty high already so raises such taxes isn't a straight forward thing but we do need more government regulation. I'll give you an example. Can we at very least put an end to foreign investment in US property, both residential and undeveloped lands. Whether those lands be zoned for future development, for mineral rights, for timber rights, etc. I have a friend who was born in Russia but moved to the US when he was like 4. He doesn't even seem Russian. No discernable accent. Both his parents are now US citizens. He's still a Russian citizen because when he switches, he'll essentially forfeit like 2 million dollars worth of property he has over there. America is open to the highest bidder. I would like to at least change that.

Doing "fine" is not thriving, let alone winning/getting ahead.

@Raiders22

 I think the myth is all of these people supposedly wanting handouts. I know nothing about cd329. It is well documented that qe aren't friends but call it a hunch, I don't think the guy is looking for handouts.

Greed....it's what has been running this country since it existed

@ABooksNightmare

That is everyone's copout and go-to.  Every business is in it to make money and profits; no one starts a business to give away free stuff.

People say 'greed' like it is a bad thing.  It almost seems they are downright envious of successful people and businesses.

Ambitious people fully take advantageous of a society where they can be rewarded for succeeding in life.  Others call it 'greed'.

@StumpTownStu

I am okay, in principle, with a flat tax, VAT, consumption, etc.

I would not tax corporations one dime.

I get what you are saying about foreign investments.  But that is a separate issue(s) from the taxes and what 'rich' versus 'poor' pay.

Too much and too big government is too costly and is the root of most of the problems.

The more money the government can collect from any means they will spend.  They need to cut back and drastically.  Pay the debt down and cut spending.

Then the taxes could be lowered and used for what they only should be used for.

This is a concise breakdown of it and the sentiment the folks have:

Some 56% of Americans say the amount they pay in taxes is “more than their fair share,” up from 51% who thought so in 2019. Unsurprisingly, nearly two out of every three Americans feel the wealthy don’t pay their fair share of taxes, and 61% said they would support raising taxes on households earning over $400,000.

But what constitutes a “fair share”?

While “fair” is subjective, most Americans might not understand how much of the tax burden the rich actually bear. The answer may surprise them.

According to the IRS, in 2020, the top 1% of taxpayers (about 1.5 million taxpayers), paid $722 billion in income taxes. That amount accounted for 42.3% of all income taxes paid, the highest percentage in modern history.

By contrast, the bottom 90% of taxpayers (about 142 million taxpayers) paid a combined $450 billion in income taxes, or just 26.3% of the total, their lowest percentage of the tax burden in decades. That means the top 1% of taxpayers pay a far greater share of the nation’s tax burden than 142 million of their neighbors combined.

Surely, the rich pay a larger amount because they earn the most money, right? Not exactly. In 2020, the top 1% of taxpayers earned 22% of all adjusted gross income; their 42.3% share of the income taxes is nearly twice their share of the nation’s income.

The opposite is true for the bottom 90%. They earned more than half, 50.5%, of the nation’s income but paid 26.3% of the taxes — roughly half of their share of the nation’s income.

This hasn’t always been the case. In 1980, the tax burden was much more evenly shared. The bottom 90% earned 68% of the nation’s income and paid 52% of the income taxes. The top 1% earned 9.6% of the nation’s income and paid 17% of the income taxes.

What led to our tax system becoming more progressive today than it has been since at least World War II?

One reason is the massive expansion of social programs delivered through the tax code over the past three decades. Some of the largest programs aimed at lower-income families and those with children are run through the IRS — the Child Tax Credit and the Earned Income Tax Credit. Collectively, they deliver roughly $180 billion worth of benefits each year, much of which is refundable — meaning a family gets a tax refund check even if they don’t owe any taxes.

Since the mid-1990s, tax credits like these have multiplied like rabbits. There are tax credits for adoption, putting your kids in daycare or your grandparents in senior care, paying for college, buying an electric car, putting solar panels on your roof, and buying health insurance, to name a few. The IRS is now a super-agency delivering all manner of social services. These responsibilities are beyond the capacity of a tax collection agency. No wonder it can’t function.

If Congress believes that these benefits are important for families, another agency should provide them through a spending program, not through the tax code.

The result is that a record number of taxpayers pay no income taxes after claiming their credits and deductions. In 2019, pre-pandemic, 34% of tax filers — equal to 54 million tax filers — paid no income taxes because of the generous credits and deductions in the tax code. In 1980, just 21% paid no income taxes because of credits and deductions.

Despite the well-worn political rhetoric about “fair share,” the burden on top earners continues to climb. If the rich are using loopholes to avoid paying taxes as so many politicians allege, many of them need better accountants.

That explains fairly succinctly that the 'rich' are overpaying not only in proportion but in dollar amounts.

It explains that it has not always been that way.

It also explains some of the reasons it go this way and how to alleviate it.

The problem now is perception and a readily available media to promote the fear and division tactics of the Left.