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| Blogs > thikhead > Think - It Doesnt Hurt Much |
boo-hoo billionaires? a question for "average joes and janes"
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boo-hoo billionaires? a question for "average joes and janes" saw this news item, hardly "new" but still - Walmart heirs are making $4 million every hour and $0 million a day: report would kill them an additional 1% or 2% in taxes? would it force them start<b> shopping </font></b>at thrift shops, food banks and used-car dealers with salesmen "slim"? im sure theyd never miss it, yet it, and similar stipends from others similarly rich, would do so much help the country run better for everyone, and do a lot better the lives of the people spend their<b> shopping </font></b>at their stores. there are millions of people work hard all their lives and never make million in a lifetime. i know i wont. will you? think about that a bit then please add your thoughts. not ultra-partisan insulting and -calling political,  just real-person real-person thoughts and ideas, please  "well only get through this if we work together. if we dont, none of us will" |
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12/25/2019 9:46 am |
Very informative, thx for sharing
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It appears that it was my first comment that was deleted. I do not have a copy or remember all of it. However one of the questions I had was when do the wealthy decide that taxes are too high and pack up and leave for tax climate that is not so harsh? There is no way for me to edit my comments on responses to comments on my blog, so if you need to correct a response to a comment, the only way appears to post a comment or do a new quote.
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The percentage of tax revenue that top 25% pay is always thrown out there. The number that never goes with it is the % of all money made in a given year. That top 25% may pay 69% of the taxes collected, but they make a much larger percentage of all earnings in that same year. Compared to the bottom 75% they get a very good deal on their taxes.
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thanx, heathen_g and bbuckwheat. some very good discussion points, presented respectfully. why cant we get the pols to discuss ideas this civilly? "well only get through this if we work together. if we dont, none of us will"
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Without Billionaires so much good would not get done. Do you have any idea how much Billionaires donate every year to all kinds of Charities and causes. Total donations to charities amounted to $410 billion in 2017, according to Giving USA, a figure (in current dollars) that has increased almost every year for four decades. Bill and Melinda Gates, who were No. 1 in 2017, fell to 12th place in 2018, giving away an estimated $138 million to their Bill & Melinda Gates Foundation. Last year they donated an estimated $4.78 billion. The Democratic Party needs to back off with the Social Government idea. This will ruin our Country. Not everybody can become billionaires, but if you do, you'll greatly appreciate those you help , not pointing at you to pay more in taxes.
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So I looked for reference to the Waltons. https://www.washingtonpost.com/politics/2019/02/19/does-walton-family-earn-more-minute-than-walmart-workers-year/ I found it at the Washington Post website. The family makes dividend money that seems to be somewhat less than the 4 million an hour (1.5 million and hour). The tax rate on dividends is twenty percent according to the article, so they would pay about 3 hundred thousand an hour in taxes. Note that this is the family, a minimum of three individuals Just for kicks, search for percent of income tax paid by what percentile of individual income. The top 25 percent of income earners pay about 69 percent of the income tax (2016 data). And no, increasing the tax rate by 1 to 2 percent would not impact them greatly. And neither would increasing the salaries of the employees so that the dividends where not as high. However, the latter would probably cause Walmart stock to drop in price and that would be unpalatable to the remaining stock holders.
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OOOPS i accidently deleted a well-written, thoughtful reply trying to delete and re-write my response. i hope you can re-post it, please? anyway, here was the response - a lot of good points, thanx for your contribution. obviously, this is not as simple as it should be. going back to the waltons as the example, if instead of earning $100 million a day, they "only" make $98 million a day, is it acceptable that they make up their "loss" with higher prices? nobody should be against someone who works hard being successful and "getting rich", but how much is enough? and how much is so much that means hundreds of millions of other hard-working people struggle to make ends meet and our roads and water systems and schools go to $#!+ because "joe average"s taxes arent enough to make things work like they should ? "well only get through this if we work together. if we dont, none of us will"
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nice pic, by the way . . . "well only get through this if we work together. if we dont, none of us will"
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that i agree on! no, im not suggesting "free rides" for anyone, just that more tax money to pay to run our country better could be painlessly contributed by those who would miss it least "well only get through this if we work together. if we dont, none of us will"
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to make sure the entire post went through word-for-word - saw this news item, hardly "new" but still - Walmart heirs are making $4 million every hour and $100 million a day: report would kill them to pay an additional 1% or 2% in taxes? would it force them to start shopping at thrift shops, food banks and used-car dealers with salesmen name "slim"? im sure theyd never miss it, yet it, and similar stipends from others similarly rich, would do so much to help the country run better for everyone, and do a lot to better the lives of the people who spend their money shopping at their stores. there are millions of people who work hard all their lives and never make four million in a lifetime. i know i wont. will you? think about that a bit then please add your thoughts. not ultra-partisan insulting and name-calling political, just real-person to real-person thoughts and ideas, please "well only get through this if we work together. if we dont, none of us will"
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