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Alexander Of Assyria

(7,839 posts)

38. Yes, sir. Fatal flaw in the Twitter argument ? ... ASSETS are not taxed, aside from property

Mon Dec 27, 2021, 01:42 PM

Dec 2021

Last edited Mon Dec 27, 2021, 02:16 PM - Edit history (2)

taxes on residences and businesses. I don’t pay any annual tax on my car.
Musk paid 4% personal income tax compared to his assets? No one even thinks of that kind of odd comparison…except people with too much time on their hands and a Twitter account and a desire to stoke faux outrage.

Musk is talking about income taxes, personal and capital etc. is he not?

Hate to spoil stuff with facts.

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Elon Musk DID pay taxes this year - Once again, it's all relative [View all] packman Dec 2021 OP

The M$M doesn't talk about ETRs because it'll hit their millionaire pockets too if they have to uponit7771 Dec 2021 #1

When you sell shares you pay taxes. There is no tax on capital gains till then. BSdetect Dec 2021 #2

people do pay taxes on their house anti stupid Dec 2021 #11

Nice reply. Thanks. Tommymac Dec 2021 #23

For the 1000th time, no one paid those rates of the 1950s. Nowhere near it. oldsoftie Dec 2021 #25

and we don't have massive deductions to day? anti stupid Dec 2021 #48

Well, the top 10% also pay 3/4 of the income taxes. oldsoftie Dec 2021 #87

look at this linh anti stupid Dec 2021 #91

We're not going to "redistribute" the wealth. Its just not going to happen. oldsoftie Dec 2021 #93

I agree with some anti stupid Dec 2021 #94

They don't pay direct capital gains tax on their houses capital gain until they sell BSdetect Dec 2021 #43

Yes, sir. Fatal flaw in the Twitter argument ? ... ASSETS are not taxed, aside from property Alexander Of Assyria Dec 2021 #38

Tax All Wealth Accumulation Over $10 Million DanieRains Dec 2021 #49

No argument there. My point was simply the Twitter persons Twitterpost is factually distorted. Alexander Of Assyria Dec 2021 #51

Income Is A Term That Confuses People DanieRains Dec 2021 #57

What about losses then NowISeetheLight Dec 2021 #79

Oh you do pay an annual tax on your car. Trailrider1951 Dec 2021 #62

You're basically right TheFarseer Dec 2021 #78

No matter what he does, people are going to whine about it! Nt USALiberal Dec 2021 #3

Yeah, they're just jealous tenderfoot Dec 2021 #6

Such ghouls! smirkymonkey Dec 2021 #28

How so? Look like ordinary people in fancy blazers, maybe I missed something? Alexander Of Assyria Dec 2021 #39

Are you sure you are in the right place? smirkymonkey Dec 2021 #46

Tolerance is good for debate. Alexander Of Assyria Dec 2021 #50

Blocked DoBotherMe Dec 2021 #56

No, I m fine. Alexander Of Assyria Dec 2021 #61

+10000000000000000 Celerity Dec 2021 #65

Rec kcr Dec 2021 #88

You don't recognize the woman he's with? NickB79 Dec 2021 #70

And no matter what he does people are going to idolize him 48656c6c6f20 Dec 2021 #27

Idolize is strawman argument . Admire for his vision and fortitude, can we do that? Alexander Of Assyria Dec 2021 #41

He's kind of a horrible person 48656c6c6f20 Dec 2021 #63

Yet he did it! Nt USALiberal Dec 2021 #77

Yeah I guess he did it.. 48656c6c6f20 Dec 2021 #81

Ask NASA if they think he succeeded! Nt USALiberal Dec 2021 #82

Can't. Don't have a BASH Liif phone. 48656c6c6f20 Dec 2021 #83

Most of what he does is awful. Act_of_Reparation Dec 2021 #74

Lol, tell NASA to fire him! Nt USALiberal Dec 2021 #76

$36 billion in one day? PatSeg Dec 2021 #4

He also lost over $50 billion in 2 days. She fails to mention that, of course. oldsoftie Dec 2021 #36

Yes sir, a lot gets left out in any one Twitter post. As intended I guess. Alexander Of Assyria Dec 2021 #42

One of the many downsides of Twitter and short attentions spans PatSeg Dec 2021 #54

Yes, I guess that is the problem with Twitter or Meme communication PatSeg Dec 2021 #53

And i should say "lost" since its only a loss or gain if you SELL. oldsoftie Dec 2021 #86

to be fair iemanja Dec 2021 #5

Which is why some form of a "wealth tax" is necessary... Wounded Bear Dec 2021 #8

I'd hate to have to pay on my 401K before I take out a dime at 59 1/2 eligible. jimfields33 Dec 2021 #13

Wealth tax would start at a pretty high level. Way past a 401-K level. Lucky Luciano Dec 2021 #20

How do you know? former9thward Dec 2021 #24

Bingo! oldsoftie Dec 2021 #34

True, but nobody talks about this for non-billionaires. Your slippery slope argument is valid though Lucky Luciano Dec 2021 #45

If it gets like VAT in Europe, that is one very slippery slope, indeed. DFW Dec 2021 #60

When income tax was first enacted, they said the same thing MichMan Dec 2021 #73

I think most Americans would *love* to see everyone paying a fair share. Torchlight Dec 2021 #29

Wealth Tax is a Really Bad Idea PBC_Democrat Dec 2021 #31

Perhaps they can pay taxes in shares. Lucky Luciano Dec 2021 #33

So then you'd want the government owning shares? Yeah, THAT wouldnt affect legislation at all..... oldsoftie Dec 2021 #35

To minimize market impact only. The government can then slowly unwind the position... Lucky Luciano Dec 2021 #40

Why would you strip voting rights? This is a good thing fescuerescue Dec 2021 #66

The government isn't paying a price. It is received as a tax. Lucky Luciano Dec 2021 #68

That law would be 25,000 pages. It'll never happen. oldsoftie Dec 2021 #85

It's complex, but something to run with. A straight up wealth tax is otherwise bad. Lucky Luciano Dec 2021 #90

"Most" US households don't pay any Federal tax madville Dec 2021 #7

Minimum Tax NowISeetheLight Dec 2021 #10

Your one of the 39 percent. jimfields33 Dec 2021 #12

Yes I Was NowISeetheLight Dec 2021 #37

I totally agree with you jimfields33 Dec 2021 #47

With my deductions, I haven't paid taxes in years. Kaleva Dec 2021 #19

DO YOU GET A PAY CHECK anti stupid Dec 2021 #14

I used to make money doing my taxes madville Dec 2021 #17

yes this is possible anti stupid Dec 2021 #21

Lots of lower income people got tax cuts too MichMan Dec 2021 #64

most people anti stupid Dec 2021 #67

That is because of the pandemic edhopper Dec 2021 #15

Also the increased child tax credit madville Dec 2021 #18

Yes; a family of 4 could make about 50k and pay zero income taxes. oldsoftie Dec 2021 #32

Can we include all sales of stocks in the sales tax? lostnfound Dec 2021 #71

You already pay income tax on stock profits after a sale. oldsoftie Dec 2021 #84

Try not to overlook the "Tax" paid into FICA (Social Security) and Medicare. rgbecker Dec 2021 #89

I made money this year... NowISeetheLight Dec 2021 #9

And meanwhile edhopper Dec 2021 #16

401k Too NowISeetheLight Dec 2021 #44

I agree with most of your assesment. Because its not crazy talk. oldsoftie Dec 2021 #30

I think Anya Overmann is confusing net worth with income. Kaleva Dec 2021 #22

To be fair, he also LOST over $50 BILLION over 2 days just a few weeks ago. oldsoftie Dec 2021 #26

Looking around... lonely bird Dec 2021 #52

The tax discussion is incoherent. hay rick Dec 2021 #55

Watch out every one, Middle class taxes were higher inn 2021 IbogaProject Dec 2021 #58

Both Smith and Mills wanted steep progressive tax rates IbogaProject Dec 2021 #59

My net worth is well over $100K but well under $1M sir pball Dec 2021 #69

The majority of my net worth is in my IRA MichMan Dec 2021 #72

It may be relative, but its also fair if the Government doesn't change the tax rules. brooklynite Dec 2021 #75

I guess better people than I understand how your rockets tavernier Dec 2021 #80

Where's a bronterac when you need one? oioioi Dec 2021 #92