Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Latest Breaking News

ColinC

(8,272 posts)

10. I just don't see how a billionaire can afford to live if they have to pay more in taxes

Reply to Polybius (Original post)

Tue Mar 29, 2022, 03:21 PM

Mar 2022

Edit history

Please sign in to view edit histories.

39 replies

= new reply since forum marked as read

Highlight:

Joe Manchin swings at Biden's billionaire tax, saying the superrich can't be taxed on 'things you do [View all] Polybius Mar 2022 OP

Yeah, they should, actually. n/t TygrBright Mar 2022 #1

If they are floating loans to live on, using that paper wealth as collateral.... TheRealNorth Mar 2022 #3

taxes Slammer Mar 2022 #16

re: "tax whatever those few people borrow as income and tax it at 98%." thesquanderer Mar 2022 #17

percentage Slammer Mar 2022 #22

unrealized gains are not income because the tax law was written that way. Dyedinthewoolliberal Mar 2022 #26

This message was self-deleted by its author jimfields33 Mar 2022 #18

And the old Manchin is back! Nt XanaDUer2 Mar 2022 #2

They Faux pas Mar 2022 #4

So, of we tax assets at, say, their present value, do we give them.... TreasonousBastard Mar 2022 #5

it's supposed to work like a property tax, so, it could. mopinko Mar 2022 #15

A wealth tax works like a property tax, but this is a gains tax muriel_volestrangler Mar 2022 #35

Manchin: There are other ways for people to pay their fair share,------ riversedge Mar 2022 #6

Yes, Joe, they can. ...nt 2naSalit Mar 2022 #7

The income reported on my 1099s Deminpenn Mar 2022 #8

Aren't realized gains already being taxed ? MichMan Mar 2022 #36

Yes, but this new proposed tax works Deminpenn Mar 2022 #37

Manchin is wrong Mysmi Mar 2022 #9

I just don't see how a billionaire can afford to live if they have to pay more in taxes ColinC Mar 2022 #10

It's mind-boggling to think about how much money people like Deminpenn Mar 2022 #33

"Leave my friends alone!!!" BlueIdaho Mar 2022 #11

When he said "and I think everyone should pay." KS Toronado Mar 2022 #12

He profits from "gob" i.e. garbage coal...then lets call him Joe "gob" Manchin. Peregrine Took Mar 2022 #13

He's a tax expert? elleng Mar 2022 #14

I don't understand how one can tax unrealized capital gains elias7 Mar 2022 #19

Katie Porter explains on Lawrence O'Donnell (about 2.45 min) Joinfortmill Mar 2022 #21

Thanks, but I still don't get it elias7 Mar 2022 #25

Here's how it works PSPS Mar 2022 #27

That doesn't actually explain about what would be done if stock value went down muriel_volestrangler Mar 2022 #34

Hope everyone reads your link Deminpenn Mar 2022 #38

More detail; this also raises the top rate on realized gains to 39.6%, also payable on inheritance muriel_volestrangler Mar 2022 #39

Please, people, vote in the midterms. I'm so sick of always hearing, "no" from this dude. Joinfortmill Mar 2022 #20

He's not up for reelection this year Jose Garcia Mar 2022 #28

If we have 50 party line Democrats then Manchin and Sinema become irrelevant. Marcuse Mar 2022 #30

taxes are the gateway to civilization. the rich don't want a civilization Javaman Mar 2022 #23

This message was self-deleted by its author Deminpenn Mar 2022 #24

President Joe Mansion has spoken BradAllison Mar 2022 #29

"Things they don't have?" They have civic responsibility. intheflow Mar 2022 #31

Confirming once again BlueMTexpat Mar 2022 #32