Anand Giridharadas joins Lawrence O’Donnell to discuss the ProPublica report that the country’s 25 wealthiest individuals pay little-to-no income tax. Giridharadas says if the government doesn’t start taxing the ultra-rich on their wealth instead of their income, we will continue the “slouch toward plutocracy.”
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#MSNBC #Billionaires #TaxAvoidance
If case you need reminder whose side the GQP is on, the 2017 t’rump tax cuts for corporations was permanent but the cuts for middle class workers end in 2025.
They end this year Buddy !
The rich in 20/26.
There is no such thing as “permanent” tax cuts as some maintain. Congress has the power to levy taxes and can change them any way they want, if they have the will. And that’s a big “if”.
The only thing that trickles down from the wealthy is what Trump likes.
Rubber pants will fix that.
What trickles down is mansions get sold yachts get sold and super cars get sold.
Trump must be the most powerful man in America
@Omee Awakened The GQP is trying to make him that way.
Reagan pushed the trickle down lies. Didn’t work then, won’t work now.
@Nelson Swanberg Beginning to think the GOP is actually a communist organization.
Years ago on Bill Maher, the Reagan person in charge of coming up with the theory, term, and guiding its implemention fessed up and openly confessed it to be a scam (a redistribution of wealth to the top) and that Reagan not only knew it to be a scam to benefit his corporate and political buddies but also approved it without a word of protest.
@El Ram Back before that, the unions were beginning to fail. The minimum wage didn’t mean much. Because the corporations had a choice. Pay taxes or expand and/or give your people more benefits. Trickle down let them put it all in their pockets. Seems the GOP has been screwing the people for decades.
It’s always been their goal.
Reagan, Thatcher and many others embraced the nobel prize winning social-economic theory, neoliberalism and the privatisation of all public services and assets, deregulation, casualisation of labor, the war on the so-called welfare state and lowering those ‘evil’ taxes for the trickle di trickle da trickery done effects
More like built on corruptness.
Normal people jus don’t understand that the OBSCENELY WEALTHY pay an army of CPA’s a lot of money to “fix” their taxes!
Exactly. There is an elite industry of tax avoidance professionals who make sure that any “trickles” from the coffers of billionaires land in their own buckets. They, too, avoid taxation. Such a racket!
Trickles down to a numbered offshore account in Panama.
This all started under Ronnie “Bedtime for Bonzo” Reagan. Reagan despised-loathed working class people.
Mommie’s daddy was a GE executive. Mommie is never wrong.
It’s obvious it’s Politicians who have sold out the country
Who elects those politicians? We do. Democratic voters have elected many good politicians who want to raise tax rates on the wealthy, and to redistribute wealth among the poor and middle class to create greater income and wealth equity. Republicans keep electing corrupt politicians in the back pocket of plutocrats. It is Reich-wing politicians, demagogues, and media which sells the pipe dream of opportunity and wealth to voters, when opportunity to raise oneself to greater income levels has actually decreased in America, while increasing in many European nations, who tax the wealthy at higher rates than the U.S. and provide far fewer loopholes. It is Republicans who have pushed neo-liberal economics, such as “trickle-down” economics, which is a proven farce. Such ruses to benefit the wealthy have affected voters, and had an affect on some Democratic politicians, who are often merely reflecting the will of their constituents. Have long wished that Democrats would stick to their guns, stick to representing the poor, the workers, the middle-class, which would benefit them more in the end, anyway. Democrats need to do a better job of messaging and educating voters, a better job of organizing, instead of allowing themselves to be pushed around by the propaganda of plutocrats like the Koch brothers, Reich-wing demagogues, politicians, and media who are only exploiting their Republican voters, many of whom are poor and in the lower middle class. Democrats—-both politicians and voters—-need to fight back hard against unjust labels like “socialists” affixed to them by the Republican propaganda machine, not allowing it to influence our policies and goals, instead of caving and letting Republicans move the goal posts ever farther to the right towards fascism and plutocracy.
“Let us never forget that government is ourselves and not an alien power over us. The ultimate rulers of our democracy are not a President and senators and congressmen and government officials, but the voters of this country.” ~ Franklin D. Roosevelt
So is it that they are Over-Charging everybody for the “Service” they provide, milking Internet Business & Users, to increase profits, as well as just being inconsiderate selfish arseholes, while a lot of people, who may use their services, or even work in their businesses, live on the the side of a road, and require help with food to survive ?…
Most citizens make a wage worth *much* less than the worth of their labor, pay much more for goods and services than those reasonably are worth, and pay a *much* larger share of their income in taxes than the wealthy class.
The wealthy are hiding income in the stock market. This needs to change.
The income from stocks should be considered to be income where they bought the stocks as no one else would have the ability to have the money that was given to them to be untaxed if they bought stocks. The only other way that stock purchases would be tax deductible is if it was considered to be a contribution to a 401(k), but 401(k)’s have tax caps on them. 2021’s cap if my Google search is right is $58,000. The big problem with this is since the owner buys stocks in the beginning from nothing, the value of this income looks to be extremely ill-defined.
The other way to consider it is a gift paid in taxation from the corporation. Although this looks like it is a gift as much as a $1 property transfer looks to be a legal purchase.
No one has noticed that trickle down destroyed the middle class. And continues to do so.
Oh they noticed. That was ultimately the intent.
Billionaires pay their taxes to the horses at Capitol Hill ! …
Anand is correct.
Glad someone’s been talking about this so consistently.
Don’t pay more than Traitor Trump’s $750 tax.
Add a note that you will NOT pay more than Traitor Trump does.
Where are the loopholes for the majority?
Every great civilization has collapsed operating under the same
model that we are operating under.
Did they mention the $10 billion Bezos just got from the gov’t for his Blue Origins?
No taxation without representation or let’s grab the pitchforks and eat the rich.
Ben Shapiro says the poor should be paying more
Interesting article in the New York Time today, with regards to Jeff Bozos outlook toward his employees. I will never spent a penny supporting Amazon.