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Wed Oct 13, 2021, 07:11 PM

Sen Eliz Warren: Billionaires Have 'Enough Money To Shoot Themselves Into Space' They Dont Pay Taxes

- Business Insider/MSN, Oct. 13, 2021. 'Sen. Elizabeth Warren says billionaires have 'enough money to shoot themselves into space' because they don't pay taxes.' - Excerpts, Ed.

In an interview with "The View" on ABC, the Massachusetts senator discussed President Joe Biden's trillion-dollar legislative plan, saying that Democrats want to make the ultra-rich pay higher taxes to help cover its costs. "The money is going to come from the billionaires who don't pay their taxes and therefore have enough money to shoot themselves into space," Warren said. "It's going to come from giant corporations like Amazon," she continued.

Amazon founder Jeff Bezos, the 2nd richest person in the world, in July flew to the edge of space on a rocket built by his space company, Blue Origin. The move prompted criticism. Before then, more than 185,000 people signed petitions not to allow him to return to Earth. "Billionaires should not exist...on earth, or in space, but should they decide the latter they should stay there," a description read. Bezos did not pay federal income taxes in 2007 & 2011, according to a bombshell report of IRS documents published by ProPublica in June. Amazon also paid no federal taxes in 2017 & 2018. Over the years, the billionaire has seen his wealth increase, with a current net worth over $190 bill.

The world's richest person, Elon Musk, likewise saw his wealth grow but paid a small amount in taxes, according to the ProPublica report. From 2014 to 2018, Musk's wealth increased by $13.9 bill, but he reported only $1.52 bill worth of taxable income to the IRS. Comparing the $455 mill he paid in taxes to his wealth gains, ProPublica said Musk paid a "true tax rate" of 3.27%. Musk also has his own space company, SpaceX. He has not traveled to space yet, but has paid for a ticket for a future flight on Virgin Galactic, a company founded by fellow billionaire Richard Branson.

Democrats have blasted big companies and the ultra-wealthy for avoiding taxes and for not paying what they describe as their "fair share" in taxes.

"I'm sick and tired of the super-wealthy and giant corporations not paying their fair share in taxes," Biden tweeted last month. "It's time for it to change." Biden's spending package would increase investments in education, healthcare, childcare, & climate, aiming to boost the working class of the country...

- More + Video, The View,
https://www.msn.com/en-us/news/other/sen-elizabeth-warren-says-billionaires-have-enough-money-to-shoot-themselves-into-space-because-they-don-t-pay-taxes/ar-AAPtPbq

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Reply Sen Eliz Warren: Billionaires Have 'Enough Money To Shoot Themselves Into Space' They Dont Pay Taxes (Original post)
appalachiablue Oct 13 OP
JohnSJ Oct 13 #1
MichMan Oct 13 #2
Igel Oct 14 #4
MichMan Oct 14 #5
czarjak Oct 13 #3
BeckyDem Oct 14 #6

Response to appalachiablue (Original post)

Wed Oct 13, 2021, 08:18 PM

1. Congress passes the tax laws. That is where changes need to happen

The problem isn’t the Bezos or musks, but Congress for not passing laws so the 1% pay their fair share

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Response to appalachiablue (Original post)

Wed Oct 13, 2021, 09:13 PM

2. If they are already paying zero at the current tax rates ?

How will raising the rate a few percentage points make them all pay their share?

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Response to MichMan (Reply #2)

Thu Oct 14, 2021, 12:20 AM

4. Didn't see that claim.

I understand that people think that's the claim, but nobody's said that.

Rhetoric =/= logic, implicature =/= implication.

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Response to Igel (Reply #4)

Thu Oct 14, 2021, 08:36 AM

5. It was the headline

'Sen. Elizabeth Warren says billionaires have 'enough money to shoot themselves into space' because they don't pay taxes.'




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Response to appalachiablue (Original post)

Wed Oct 13, 2021, 10:45 PM

3. Rushbo Reasoning...

“Wealth is like rainwater, all that’s ever been generated is already here, it’s just a matter of distribution” More wealth for the wealthy means less for you know who is the bottom line. Period. The Way Things Ought To Be? Remember!

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Response to appalachiablue (Original post)

Thu Oct 14, 2021, 10:33 AM

6. All over corp media, Captain Kirk is helping enable one of the most exploitative bastards

American workers has ever experienced...Bezos. But hey, it was a fun ride

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