/biz/ - Business & Finance

[Anonymous No.22797003]

Why the fuck is income tax so high? Its not like haha oh that sucks I guess I’ll pay it money.

It’s literally like life ruining ultra fucking disturbingly high. Like literally no one would be poor without income taxes. It’s literally like enough to feed yourself and a kid and pay rent type shit even not making a lot.

Seriously wtf. Literally like no I’m not even kidding. It should be 10-15% how the FUCK!!!!!!’ Is it 30-60%

[Anonymous No.22797026]

Founding fathers dropped bodies for like 2-3% tax rate lol

[Anonymous No.22797052]

stop bitching poorfag

[Anonymous No.22797079]

>>22797003
I don't even know. If our taxes are mainly to fund SS and medicare what pays for the military and shit? I know roads are built with gas taxes and schools are funded by property tax

[Anonymous No.22797080]

>>22797052
I don’t think you understand retard

[Anonymous No.22797123]

In the United States. Income tax goes towards social welfare the majority Which is Social Security, but also Medicare, Medicaid, and other programs. The medical, food, shelter programs largely go toward sheltering an ever growing mass of single mothers. The social security goes to the elders who get out more than they put in and the first person to take out never put in a penny.

Income tax in the US will need to increase 8% by 2032 to maintain Social Security unless either the average income level goes up substantially, old people stop collecting it, or the old people all just die. It is more likely taxes just go up another 8% which is partially why many men are dropping out put of society which is further exasperating so it may need to rise even more.

This is before anyone manages to implement some form of UBI which will increase it further. Another way out is to just say fuck it and leave the old people to suffer for having been so naive as to trust the United States Government.

[Anonymous No.22797171]

>>22797123
Does moving to a place like Florida make it cheaper? Or does it just find other ways to make you spend money

[Anonymous No.22797182]

>>22797079
Military spending is only a sliver of taxes about 13% most money goes to administrative losses lining pockets around the country and to the horde of single mothers who vote for the administrators


>>22797026
Taxation should be abolished. If you can't maintain your government without force and violence then your government is unjust and will eventually lose. It is a matter of time, I do not expect to win within my life time though.

[Anonymous No.22797228]

>>22797079
>what pays for X
debt pays for it. consider that most tax-paying Americans are in debt themselves. The idea that income taxes fund anything is a total meme, it is absolutely just a mechanism for control. Consider that the wealthiest people and corporations do not even pay tax, receive billions in direct subsidies, and most egregious of all, get billions of dollars directly issued to them by the fed during financial crises. The mere existence of income tax is insane to begin with, the fact that people who don’t even make seven figures get raped by 20-37% income taxes ON TOP OF all the other taxes is just fucking criminal. We can’t even call the system exploitative because the money it steals isn’t even fucking needed. It is pure sadism

[Anonymous No.22797250]

>>22797171
I would hope so, but after talking to some colleagues it seems they get you in other ways with car insurance and sales tax. for ex in California groceries aren't taxed, I guess that's not the norm everywhere.

[Anonymous No.22797255]

>>22797003
Taxes are high because too many rich people are dodging paying them.

[Anonymous No.22797265]

>>22797182
Dude 15% I understand but wtf. People who make millions pay 45%. If I ever get a million dollars say goodbye to that dream house. 500k in taxes BOOM I’m living in a neighborhood next to parking dogs loud children cars 3 feet from my house and old people and shit FUUCK

[Anonymous No.22797304]

>>22797255
rofl retarded liberal cuck go to reddit

[Anonymous No.22797306]

>>22797265
that's income tax though, I don't think a lot of people actually bring in millions a year more like have millions in assets and once earned that much

[Anonymous No.22797321]

>>22797255
I’m talking about taxes for rich people to. I don’t think they magically avoid taxes like you think because they constantly get arrested for forging them. I know Jeff Bezos doesn’t but he invests like 80% of his income

[Anonymous No.22797346]

>>22797306
I heard a bunch of celebrities are barely even getting rich cause they pay like 40% in taxes plus managers and everything else takes 20%

[Anonymous No.22797357]

>>22797003
https://www.youtube.com/watch?v=QPKKQnijnsM

It's much more complicated than that anon. Try not to fall into the trap of it being politicized. Just look at the numbers and statistics. Math.

[Anonymous No.22797394]

>>22797346
eh say you made $1mil in a year after the taxes and fees you still have $400k, if you can't manage on that idk mane I could live off divvies with that plus they have more work coming in likely

[Anonymous No.22797409]

>>22797003
If you add all taxes it's easily more than 50% of income in most western countries, sometimes even 80%.

Modern governments are mostly parasitic entities who's only purpose is to provide jobs to people working in it.
The world would be a better place if the budget of the State was divided by ten

[Anonymous No.22797433]

>>22797321
>>22797346
There’s a reason why biz jokes about a million dollars not being enough to make it, because in many ways its not. The power level of a basic bitch 8 figure literal who is nothing compared to corporations and billionaires who control the agencies meant to regulate them. Millionaires absolutely get fucked by the system, billionaires do not. This is by design

[Anonymous No.22797453]

>>22797304
>Imagine not even knowing basic information

https://www.cnbc.com/2020/02/04/amazon-had-to-pay-federal-income-taxes-for-the-first-time-since-2016.html

[Anonymous No.22797465]

>>22797453
Because he invests his money.

[Anonymous No.22797489]

>>22797394
That kind of reasoning is why the government keeps fucking everyone, maybe some random african kid would think that your annual 20k would be taxed 90% because 2k a year is enough to eat daily and live in the forest.

[Anonymous No.22797491]

>>22797003
I used to work at the IRS. I tried to change the motto to “We don’t just ruin your day, we wreck your life.”

[Anonymous No.22797501]

>>22797079
If you want to seethe harder with flaming red pills just google the US Federal Budget expenditures for this year and next. Some TLDR estimates:
>Gonna spend about $5 trillion
>only gonna make about $3.8 trillion, so more public debt in the years to come, so more taxes too...
>more than 10% will be used to pay INTEREST on existing debts.
This will increase year after year. Some more fun facts:
>more than half the budget is SS.
>Medicare = keeping 65+ boomers alive
>Medicaid = literally the spic_nig_cycle.jpeg
>$700 billion on military.
Funny enough, most of the military budget covers retirement, veterans benefits, and other gibs. Only about 200 billion goes to the services and about 70 billion is tied up in overseas gay ops.

[Anonymous No.22797514]

>>22797394
WANT. MANSON.

[Anonymous No.22797555]

>>22797182
You can't abolish all taxes, you need military force and police, firemen, juges, road workers etc.
Some charity for the poors is necessary too so they don't become a nuisance.

But it shouldn't cost more than 5%, most state services are a waste

[Anonymous No.22797562]

>>22797123
I’m half convinced BLM and Antifa are actually republican operations to convince a sufficient majority that they should stop gibs. The reparations narrative for example: any sane persons response is Nothing will ever be enough. Fuck it, let’s stop supporting these leaches.

[Anonymous No.22797577]

>>22797465
And? Amazon employees make barely enough to survive. Thanks Bezos.

https://www.cbsnews.com/news/2018-taxes-some-of-americas-biggest-companies-paid-little-to-no-federal-income-tax-last-year/

And stock buybacks have allowed companies to just pay themselves more. And with the "stimulus", it all goes back to those same companies again!

https://www.youtube.com/watch?v=T9g0TpzE3DE

Govt is bad. I get it. But guess what. So are corporations, they fucking become the govt through lobbying and money. Money is power. Don't slide into the left vs right bullshit.

[Anonymous No.22797625]

>>22797577
I don’t care about those people though they’re ants. I agree the tax is too high for them but come on. Minimum wage workers are retards and stupid enough to be content with beer and football.

[Anonymous No.22797635]

I say we do our own chimp outs. We must do a Boston Tea Party x 100.

[Anonymous No.22797676]

https://ipa.org.au/ipa-review-articles/when-in-rome-taxes-and-outrage-in-ancient-rome

https://ourworldindata.org/taxation

[Anonymous No.22797737]

Depressing isnt it??

[Anonymous No.22797758]

Why is the cutoff for Medicare so low for the income? I don't make shit, 24k a year but have my rent, fuel, and food taken care of. I'm poor enough to qualify for Medicare but if I make a few thousand more then that in a year I get bent over and have to pay a ton for health insurance... it's like you're encouraged to squeak by, get a tax return, and not pay for health insurance...I don't get it, family of 4 btw.

[Anonymous No.22797786]

>>22797625
https://www.cbpp.org/research/federal-tax/substantial-income-of-wealthy-households-escapes-annual-taxation-or-enjoys

Not many people have money to maintain a Corp with accountant and other compliance shit on, to take benefits of lower tax on capital gains / pass-though profits

[Anonymous No.22797787]

>>22797737
Why do we allow it? We freak out about cops but not this?

End the stupid fucking war on drugs. We don’t need the military this fucking big. Stop doling out welfare. I think the uk has it right with a royal family instead of shit politicians.

[Anonymous No.22797809]

>>22797625
In 1st world Europe, if you can believe it, taxes are even higher. But guess what? People are consistently rated as being "happier" based on a myriad of important metrics. The US is more the "all or bust" mentality which has led to much success, but also an incredibly wage gap. Wealth creates wealth, coupled with the fact that financial education isn't taught in schools. Did you watch this video? People have been tricked into thinking that the system is much more fair than it is.

https://www.youtube.com/watch?v=QPKKQnijnsM

The problem is human nature. Bad govt. Bad corporations. Greedy people. Corrupt people. Selfish people. And stupid people that treat the economy/politics like a sports match.

[Anonymous No.22797831]

>>22797758
Niggers only, sorry anon

[Anonymous No.22797840]

>>22797003
You’re not suppose to be an employee. You’re suppose to be an entrepreneur/business to grow the economy. Employees are slaves.

[Anonymous No.22797845]

>>22797577
>Money is power.

This is only true because having enough money to lobby means you get to purchase influence over govt. Government is actual power. If the government couldn't sell it's monopoly on force, your statement wouldn't be true. Large government is the root of the problem, not wealth.

[Anonymous No.22797858]

>>22797787
Welfare isn't the problem. Hopefully military spending should begin to start decreasing well within our lifetimes.

Look up Peter Zeihan videos. The geopolitical situation is changing rapidly.

[Anonymous No.22797860]

>>22797003
Literally like shut the fuck up and learn how to speak you dumb nigger

[Anonymous No.22797910]

>>22797577
>Amazon employees make barely enough to survive
Why do they work for amazon then? They work there because that's the best option, they are paid what they are paid because they can be substituted easily.

[Anonymous No.22797919]

It’s a massive joke and a way they keep us in perpetual wage slavery. Income taxes were ruled unconstitutional in 1890 before Wilson managed to get a 1% tax approved for WW1 emergency funding. In WW2 again FDR ramped the taxes up and at that point we were done, hopelessly hooked, now it’s just standard and expected to pay 20-40% to fucking WORK.

The government used to be financed by tariffs and other taxes and they cleverly shifted the burden onto us while selling out our jobs to boot.

[Anonymous No.22797946]

>>22797809
Isn’t the tax rate like 55% there for anyone? Fuck that

>>22797840
I kinda am but it’s getting harder every year and making less I don’t know what the fuck to do. I hate my business but I’m not in a position to invest. I need a house and car now I can’t spend fucking fortunes on business ventures. I have enough money to live better than wageslaves but not enough to get rich.

I’m ultra fucking pissed cause I’ve been sitting home making money for 3 years and if I just bought amazon and Apple stocks the easiest stock picks in the world I’d go up 300% risk free

I’m finally investing now but I need to buy myself a life and can’t invest tens of thousands like I could have.

[Anonymous No.22797956]

>>22797003
Someone's got to pay for those new Israeli F-35's, goy.

[Anonymous No.22797976]

>>22797228
>We can’t even call the system exploitative because the money it steals isn’t even fucking needed. It is pure sadism

[Anonymous No.22797986]

>>22797858
They war on drugs and police is fucking stupid. I live in a garbage town and the cops do nothing but harass people on the road all day looking for drugs and dui. Every time we have a murder here unsolved. Every bank robbery unsolved. But every direction I look in driving I see cop cars and they fucking hound people looking for small drug offenses and weed.

We need to fuck off with this drug war Netherlands did and they’re shutting down prisons everywhere and don’t have the population hate them. We have a million pointless rules and spend billions on it.

[Anonymous No.22798001]

>>22797845
Yes but not that simple. I think you're implying that the govt. should have less power overall. There are certainly changes to be made, but corporations will simply scoop up the new vacuums of power. Corporations will claw at every bit of power they can possibly amass to make as much money as they possibly can, this is by their inherent design. It's not even their "fault" in that sense. With a government, AT LEAST they have the station of technically being "for" the people. A corporation is only "for" the money. They care about you from a financial sense but they don't care about you. Nuanced.

Libertarianism is mostly naive and wouldn't lead to some sort of utopia, it would lead to another similar money is power paradigm, because money is power in the fundamental sense.

[Anonymous No.22798022]

>>22797003
wealthy citizens are idle citizens. it's to make you productive, same as central banking debasement. That is obviously antithetical to the intention of the us constitution and the pursuit of happiness but if the collective economy was not pumped to combat nazis, ussr and ccp there would be no constitution. Alternatively everything is political drama and a racket to guide us into global autocracy.

reminder there was no income tax prior to the 20th century and it was introduced as a temporary emergency measure. Funny how there is a current narrative of "new normal" for legislation also introduced as temporary emergency measures

[Anonymous No.22798038]

It helps buy your local politicians and their friends new cars and homes

[Anonymous No.22798062]

>>22797910
Fair enough. Completely agree that if they don't like it they can fuck off. I'm just saying, thanks Steve.

Costco pays their employees well, because they can. It's a philosophical point. Not everything needs to be an excel spreadsheet. We're all in this crazy thing together. I think that we are going to have to start addressing these questions more and more as more and more is automated.

[Anonymous No.22798070]

>>22797079
God I wish it funded the SS

[Anonymous No.22798093]

>>22797577
Shit the fuck up with the woe is me narrative little commie shitstain. Midwit leech shills like you deserve the most economical death possible.

[Anonymous No.22798139]

>>22798093
When people are more able to stop looking at this from a political perspective, and more a systemic issue of blame due on all sides, IF that day comes, we will start to see real progression.

[Anonymous No.22798399]

>>22798001
>useful idiot the script
a rockefeller foundation production

[Anonymous No.22798469]

>>22797003
HONK HONK

[Anonymous No.22798593]

>>22798062
Just let the market do its thing and automation won't be a problem. Human crave rarity, automation will just create a new market for artisan goods while making basic stuffs dirt cheap, basically not only the difference betwin rich and poor will be mostly cosmetic but people will be able to leave the soul crushing factories and offices to work as artisans, be it in clothing, food making or furnitures.

We can get the best of modernity and the pre industrial world if the 4th industrial revolution happen, politician just need to stop to freak the fuck out and to let useless jobs die. But they won't so it will take centuries to get there instead of decades.

[Anonymous No.22798618]

>>22798001
Starbucks will never have the power to break into my house and shoot me while im asleep because I didn't buy their product. You're an idiot.

[Anonymous No.22798649]

>>22798399
The partisan system we have now is useful from the sense that both parties keep each other in check (obviously you wouldn't want everyone to be on the left, or on the right), you need a system of checks and balances.

The problem is more psychological though - cognitive dissonance and confirmation bias. It's good to try to be really removed from the hysteria and hooplah and emotion, to look at these things as macro and cold/calculatingly as you can.

[Anonymous No.22798692]

>>22797409
75% of income goes to taxes and fees and inflation. Its fucking insane this is not the number 1 issue discussed. Modern people = goyim = SLAVES

[Anonymous No.22798781]

>>22798593
>Just let the market do its thing and automation won't be a problem. Human crave rarity, automation will just create a new market for artisan goods while making basic stuffs dirt cheap, basically not only the difference betwin rich and poor will be mostly cosmetic but people will be able to leave the soul crushing factories and offices to work as artisans, be it in clothing, food making or furnitures.

This seems to be a possible scenario. We'll see. And you can see the huge flooding into coding/IT now as well. What jobs are being propped up?

>>22798618
Lol. Your argument is flawless.

[Anonymous No.22798805]

>>22797003
keeping the working class down

[Anonymous No.22798825]

>>22797255
>>22798022
>>22798038

based

[Anonymous No.22798849]

> Like literally no one would be poor without income taxes.
Yeah, because going from 20k in savings to 25k in savings makes a world of difference. Stop being a poorfag.

[Anonymous No.22798878]

>>22797003
The Jews like money

[Anonymous No.22799030]

>>22798692
Too complex for 100 iq retards, that's why there is dozens of different taxes and not just one, so people can't see how much they're getting robbed

[Anonymous No.22799107]

>>22798649
I called you an idiot because you don't know the difference between government and corporation.

You cannot change resource is power but you can change how resource is made.
Capitalism is where the only way to get someone elses money is if they want to give to you where socialism and communism is an institution just takes your money by decree.

Capitalism distributes power to those who are good at providing other people value. Autocracy distributes power to those who are willingly to do the worst to seize it

we don't have capitalism because other countries became autocratic because of useful idiots like you and started wars so central banking and tax were used to fight fire with fire.

[Anonymous No.22799127]

>>22798849
>tfw make 300k
>tfw 60k in taxes
>tfw trying to max out backdoor 401k
it hurts

[Anonymous No.22799222]

>>22798849
5k is a fuck load to someone who only has 20k lol what are you on

[Anonymous No.22799271]

>>22797123
Ideally UBI will replace all welfare programs, so it wouldn't be additional. All the shitty stuff you outlined would be wiped away and replaced with UBI, without requiring all the overhead costs since you get money no questions asked.

[Anonymous No.22799302]

>>22798849
>make literal poverty wages
>government takes at least 25%

[Anonymous No.22799395]

>>22799222
he doesn't actually pay taxes yet as a dependent

[Anonymous No.22799426]

>>22797986
Woah there buddy. Cool it with the antisemitism. Tobacco, pharma, and prison lobbies are people too!! You can't just make drugs legal and kill their revenue! That's be bad, Goyim. Trust us, this is for your own good!

[Anonymous No.22799442]

>>22798849
it's literally the difference between eternal wage slavery and being able to save up to give your children an actual inheritance

[Anonymous No.22799474]

>>22799107
I believe this is the wrong way to go about it. But it's what you hear in nearly all political arguments. Words like "capitalist" and "socialist", or "communist" used as insults - as if they are an argument in themselves.

Obviously capitalism has many nuances. I don't think your argument is that we should get rid of government altogether (if it is, that's an entirely different discussion). So the issue becomes the divisions of power. We are not living in a democracy, we're living in a plutocracy. The wealth gap in the US is comical, to let corporations (which organically eat up smaller corporations which eat up smaller corporations) have even more power would become untenable. Believing that a fully libertarian society will become a utopia is equally as naïve as believing that a fully socialistic society will become a utopia.

As far as other countries are concerned, again the issues are very nuanced. Geopolitics has many variables at play. Look up Peter Zeihan (don't worry he's not a lefty).

[Anonymous No.22799584]

>>22799474
they are when you don't play semantics.
You have no idea what you're talking about all the metrics you think you know are just meaningless ever changing definitions.

The sole cause of the degeneracy of the usa is debasement and that is caused by the need to maximise the collective economy to fight foreign autocrats.

[Anonymous No.22799587]

>>22799302
MAKE THIS ILLEGAL

[Anonymous No.22799650]

>>22799107
>Capitalism distributes power to those who are good at providing other people value

[Anonymous No.22799681]

>>22799650
>implying divorce is related to capitalism

[Anonymous No.22799687]

What if everyone in America goes on tax strike? What's the IRS gonna do about it?

[Anonymous No.22799711]

>>22799650
I keep seeing shit where dudes get divorced and they have to pay the women 8000 dollars a month for nothing

[Anonymous No.22799763]

>>22799650
we haven't had capitalism since 1913

[Anonymous No.22799768]

>>22797501
Just started getting my veteran gibs today, you're welcome for my service

[Anonymous No.22799827]

>>22799442
exactly, goyim, and you will stay in cagie. inheritance is for the chosen people.

[Anonymous No.22799914]

>>22797052
leftist commie scum.

[Anonymous No.22800239]

>>22797562
Nope it's just the left being consistent and awful.

[Anonymous No.22800379]

>>22797787
Erm, the UK has stupid politicians in addition to the royal family, who are paid for by the taxpayer but who have delegated power to the government. It helps with the appearance of democracy, whilst still maintaining the unelected leeches' income.

[Anonymous No.22800439]

>>22797809
>Europoors
>Happy

I lived in europe for 12 years (6 in DE, 2 in NL, 2 in PT, 1 in CZ, 1 in RO). People there are miserable. Imagine your average salary is 40k € (germany 2018). After taxes you're left with 24k € !!! Everyone has a free meme degree so your education is worthless. You can use the "free" health care if you don't mind waiting in human shit stained lobbies for several hours. Your cost of living is equal to or MORE than a comparable US city. You work half the year to pay for euroboomers' retirement checks. Its the biggest life scam of all. Importing refugees is simply a way to ensure it continues because real euros are escaping any way they can.

[Anonymous No.22800442]

>>22799650
>capitalism is when the government forces men to give women money

[Anonymous No.22800453]

>>22797003
Need to keep niggers poor and also pay for the niggers.

[Anonymous No.22800467]

>>22800453
Racist white virgin #182749372

Rent free. You’re gonna go bald being that angry if you haven’t already

[Anonymous No.22800561]

>>22797003
Taxes should be abolished change my mind

[Anonymous No.22800625]

>>22799426
why do you conflate any of this shit with jews? who the fuck tells you that's antisemitic?

[Anonymous No.22800631]

>>22797465
Wait I invest money too, can I drop my income tax?

[Anonymous No.22800647]

>>22800439
Gotcha. But none of those countries were listed in the studies I was referring to.

>>22799584
You obviously haven't done any research on this, but I suggest you look into it. It's not arbitrary.

>The sole cause of the degeneracy
It's never as simple as people like to think.

[Anonymous No.22800677]

>>22800561
That's how you get unironic street shitters in America

[Anonymous No.22800721]

>>22800631
If you invest 80% of it and have million dollar tax lawyers yes

[Anonymous No.22800746]

The left decided it’s your responsibility to pay for niggers and shitskins to flood your country and shit out kids because the bad guys won WWII