AustinScubaAg said:

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Bubblez said:

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Keller6Ag91 said:

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Bubblez said:

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Ellis Wyatt said:

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Fedup said:

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Yes agree. But if you think you're middle class, then this admin thinks you're part of the entitled rich.

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The OP fully supports this regime. He thinks they aren't marxist enough.

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The current tax policy is very much where Trump left it.

And yes, if Marxism means the wealthy pay according to how much they benefit from this economic system, then call me a Marxist. The scales are no where close to being balanced

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"No where close to being balanced". So when the top 50% of income earners carry 97% of the Individual tax burden, when are we getting "balanced"? And the top 1% carry over 25% of the burden. Again, what is balanced?

https://taxfoundation.org/publications/latest-federal-income-tax-data/

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The top 1% have over 34% of the wealth locked up. The bottom 50% have less than 2%. Our taxation should be focused on wealth

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Wealth and income are not the same. Taxing wealth is a sure way to destroy wealth. Anyone with any understanding economics would understand that since it is basic supply and demand. There are only two ways to tax wealth

1. Sell assets to cover taxes. In this scenario there are not enough buyers that can afford the massive amount of assets so the prices drop and a large amount of wealth is simply destroyed.
2. Direct transfer of assets to government. This is either pure socialism where the government ends up owning everything or the government has to sell resulting in #1.

Wealth Taxes would destroy the economy.

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The Marxist knows that...and that's what the good Marxist wants.

Bubblez said:

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Capital gains hit me quite hard and the IRS isn't happy with how much tax was withheld. So I got dinged with an underpayment penalty. That is just rubbing salt into the wound.

The whole tax system really still favors the wealthy. No way should the middle class be paying so much.

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The IRS wants you to give them money (interest free), and if you pay to much they will give it back (as if they are doing you a favor). I have been hit several times by the underpayment penalty, it sucks to pay taxes, it sucks even more to be penalized by unexpected gains.

Well to do Marxist sells assets and makes profit by being capitalistic and then complains about paying too much taxes. What an idiot!

OP humble brag.

Our new battle cry should be no representation without taxation.

In 2020 I had an anomaly in my income and ended under withholding by approx. $24,000. My H&R Block software calculated my penalty at $ 364. About one month after I filed the return, I got a letter from the IRS saying I had overpaid on the penalty and sent me a check for $ 173.93. So the IRS computers were kind to me this one time.