nycericanguy wrote:i would love to know what a billionaire tax cut actually is instead of just using it as a buzzword.

I think there is both a simple answer and then more complicated explanations of how people both accumulate wealth, shield themselves from taxes, etc.

Over decades, you can just look up the average tax rates for diffident levels of income and compare them.

Federal minimum wage limits are not a tax but play into the accumulation of wealth. Pensioned jobs. Ability to form unions. Those are the more complicated versions. The are absolutely not billionaire tax cuts but mechanisms where they do accumulate wealth.

Tax right offs. Billionaires fund congress members to make laws that benefits their mega yatchs.

Billionaires typically have more access to corporations and the benefits that those entities provide. Average Americans do not.

I don’t remember a time where I was able to have a conversation with a member of congress to incorporate some language in laws that would benefit me but it does happen at the upper levels of wealth.

Those are sideways examples.

martin wrote:

nycericanguy wrote:i would love to know what a billionaire tax cut actually is instead of just using it as a buzzword.

I think there is both a simple answer and then more complicated explanations of how people both accumulate wealth, shield themselves from taxes, etc.

Over decades, you can just look up the average tax rates for diffident levels of income and compare them.

Federal minimum wage limits are not a tax but play into the accumulation of wealth. Pensioned jobs. Ability to form unions. Those are the more complicated versions. The are absolutely not billionaire tax cuts but mechanisms where they do accumulate wealth.

Tax right offs. Billionaires fund congress members to make laws that benefits their mega yatchs.

Billionaires typically have more access to corporations and the benefits that those entities provide. Average Americans do not.

I don’t remember a time where I was able to have a conversation with a member of congress to incorporate some language in laws that would benefit me but it does happen at the upper levels of wealth.

Those are sideways examples.

Tax right offs aren't tax cuts though, I use many tax write offs every year and obviously I'm far from a billionaire. I dont think anyone pays MORE taxes than they have to by law.

Standard deduction for a married couple is 32k, that's a write off that any married couple would use right?

I just think there's a narrative out there that someone like Musk for instance has 500 billion in cash and pays no taxes, which is the complete opposite of the truth. Billionaires are "worth" that much only because of their company stock, which no, isn't income and isn't taxable because their companies are already taxed. You can't tax someone's net worth, period. that would be asinine and have far reaching consequences to everyone that is employed by these companies. And these companies arent evil, they provide jobs and are advancing technology.

nycericanguy wrote:

martin wrote:

nycericanguy wrote:i would love to know what a billionaire tax cut actually is instead of just using it as a buzzword.

I think there is both a simple answer and then more complicated explanations of how people both accumulate wealth, shield themselves from taxes, etc.

Over decades, you can just look up the average tax rates for diffident levels of income and compare them.

Federal minimum wage limits are not a tax but play into the accumulation of wealth. Pensioned jobs. Ability to form unions. Those are the more complicated versions. The are absolutely not billionaire tax cuts but mechanisms where they do accumulate wealth.

Tax right offs. Billionaires fund congress members to make laws that benefits their mega yatchs.

Billionaires typically have more access to corporations and the benefits that those entities provide. Average Americans do not.

I don’t remember a time where I was able to have a conversation with a member of congress to incorporate some language in laws that would benefit me but it does happen at the upper levels of wealth.

Those are sideways examples.

Tax right offs aren't tax cuts though, I use many tax write offs every year and obviously I'm far from a billionaire. [I think anyone pays MORE taxes than they have to by law.

Standard deduction for a married couple is 32k, that's a write off that any married couple would use right?

I just think there's a narrative out there that someone like Musk for instance has 500 billion in cash and pays no taxes, which is the complete opposite of the truth. Billionaires are "worth" that much only because of their company stock, which no, isn't income and isn't taxable because their companies are already taxed. You can't tax someone's net worth, period. that would be asinine and have far reaching consequences to everyone that is employed by these companies. And these companies arent evil, they provide jobs and are advancing technology.

Tax write offs and tax cuts are indeed not the same thing. Thats why I said it’s a sideways/complicated answer, so I wasn’t necessarily addressing your exact topic but trying to show a broader picture of wealth accumulation etc.

martin wrote:

nycericanguy wrote:

martin wrote:

nycericanguy wrote:i would love to know what a billionaire tax cut actually is instead of just using it as a buzzword.

I think there is both a simple answer and then more complicated explanations of how people both accumulate wealth, shield themselves from taxes, etc.

Over decades, you can just look up the average tax rates for diffident levels of income and compare them.

Federal minimum wage limits are not a tax but play into the accumulation of wealth. Pensioned jobs. Ability to form unions. Those are the more complicated versions. The are absolutely not billionaire tax cuts but mechanisms where they do accumulate wealth.

Tax right offs. Billionaires fund congress members to make laws that benefits their mega yatchs.

Billionaires typically have more access to corporations and the benefits that those entities provide. Average Americans do not.

I don’t remember a time where I was able to have a conversation with a member of congress to incorporate some language in laws that would benefit me but it does happen at the upper levels of wealth.

Those are sideways examples.

Tax right offs aren't tax cuts though, I use many tax write offs every year and obviously I'm far from a billionaire. I dont think anyone pays MORE taxes than they have to by law.

Standard deduction for a married couple is 32k, that's a write off that any married couple would use right?

I just think there's a narrative out there that someone like Musk for instance has 500 billion in cash and pays no taxes, which is the complete opposite of the truth. Billionaires are "worth" that much only because of their company stock, which no, isn't income and isn't taxable because their companies are already taxed. You can't tax someone's net worth, period. that would be asinine and have far reaching consequences to everyone that is employed by these companies. And these companies arent evil, they provide jobs and are advancing technology.

I don’t know where that comes from.

It’s easy to look up the accumulation of wealth by income sector across our country. Average income for the bottom has barely grown while the top 1% has skyrocketed.

It’s a very complicated answer as to why and just looking at tax write offs versus tax rates won’t come close to showing the whys.

the internet has alot to with it IMO... companies are able to scale like never before and are much more global now because of the internet.

The internet has had alot of bad maybe unintended consequences.

But ultimately someone creating a company that becomes worth $1 trillion isn't inherently a bad thing unless you want it to be if that makes sense. If you had a startup bought out for $1 billion by one of these companies you certainly wouldn't think it was bad.

Not on topic but I’m just gonna leave this right here and everyone can take it as they will, wont embed but interesting

https://www.instagram.com/p/DTDOHbbkX-t/

For me it would be a distinction without a difference besides having created a legal entity to cover yourself in.

fitzfarm wrote:With the billions of dollars we gift to foreign governments like Argentina, make up a fake drug war to get Venezuelan oil. The fact that everyone’s health insurance is about to double and brown people getting taken away like it’s Nazi Germany.

I think free buses and NYC government run grocery stores are the least of our worries hahaha .

The 2026 blue wave is approaching and trump will get impeached and indicted. But he’ll blame it on …. Sleepy joe or OBAMA … hahaha what a Joke. Thank god this nightmare is almost over.

Yes, mid-terms will be a slaughter under normal conditions and both houses would flip, however the question is whether or not Russell Vought and Stephen Miller will get Trump to impose martial law and suspend the November elections.

Venezuela is not just about the oil. It's a flex to test their ability to get the military to break the law and do their bidding. That's what the National Guard incursions were about, but they just got swatted down by Scotus so they turned around and went further in breach of law and abducted a foreign head of state whom we were not at war with.

And the new threats against Iran are quite specifically connected to Venezuela whom Iran was supplying with military weapons while Russia was the only entity breaking sea embargoes to deliver naptha to Venezuela which needs vast quantities of petro thinner to process their very thick crude.

Rookie wrote:

Philc1 wrote:

Rookie wrote:The price tag to make everything free is pretty staggering.

Still way less than what it costs to give billionaires all these tax cuts. Kansas City has free buses somehow they are doing ok

The thing about being a billionaire, whether you respect them or not, is that you can afford to move. All surely have secondary residences that they can make their primary residence or even country. Your plan is flawed since you can not force your tax base to stay in nyc especially since they can afford to move. The same goes with business. Other states will encourage business to relocate by offering tax incentives.

Well if all the billionaires move(they won’t) maybe it will become affordable to buy or rent property in Manhattan again

Philc1 wrote:

Rookie wrote:

Philc1 wrote:

Rookie wrote:The price tag to make everything free is pretty staggering.

Still way less than what it costs to give billionaires all these tax cuts. Kansas City has free buses somehow they are doing ok

The thing about being a billionaire, whether you respect them or not, is that you can afford to move. All surely have secondary residences that they can make their primary residence or even country. Your plan is flawed since you can not force your tax base to stay in nyc especially since they can afford to move. The same goes with business. Other states will encourage business to relocate by offering tax incentives.

Well if all the billionaires move(they won’t) maybe it will become affordable to buy or rent property in Manhattan again

They just have to spend half the year +1 day in another state and they already do