Surprise...Billionaires pay almost zero in federal taxes

[limitles]

That’s why these guys “donate” all that moolah to charity....charities run by their kid or cronies....

So they don’t look like the greedy fucks they actually are.

However they pay plenty of taxes and employ millions of people through their businesses....so whatever.

there you go, whataya gonna do?
No rules........ good luck little guy

[Texter]

That’s why these guys “donate” all that moolah to charity....charities run by their kid or cronies....

So they don’t look like the greedy fucks they actually are.

However they pay plenty of taxes and employ millions of people through their businesses....so whatever.

there you go, whataya gonna do?
No rules........ good luck little guy

Most of the little guys on this forum live pretty comfortable lives...I work for a billionaire and can’t complain.

Just start investing when you’re young and the world is your oyster.

[limitles]

you're not little if you mention investing

[Texter]

Everyone starts little....first job outta school paid a cool $18K....had 2 room mates.


I still socked away IRA money from the jump...magic of compounding.

[mickeycrimm]

Don't be alarmed all ye libtards! Biden has you covered. You know that 400K he says you have to make to get a tax increase. What he didn't tell you is thats for families. A single person making 200K is going to get a tax increase. HAHAHAHAHAHAHAHA!!!!! Jokes on you libtards!!!

Oh, and another way Biden is going to pay for the freeloader billionaires. You heard it here first!!!

Do you remember that "incompetent Trump" cutting the 15% tax bracket to 12%? And do you remember he doubled the standard deduction? Well, guess what. Those tax cuts are set to expire. And Uncle Joe is keeping mum about it. Thats because he will quietly let the cuts expire and the taxes will be raised back up on the lower class. REPEAT, BIDEN IS GOING TO LET THOSE CUTS EXPIRE.

You see? Uncle Joe has the billionaires covered. Liberal dogma is....taxes are for poor people. You got what you wanted when you voted in Uncle Joe, libtards.

Now....what was that you libtards were saying about being for the poor and downtrodden? HAHAHAHAHAHAHAHA!!!!!!!

fuck off faggot

I obviously hit a nerve, mr. libtard, phony as a whore in church, faggot.

[Daly]

Everyone starts little....first job outta school paid a cool $18K....had 2 room mates.


I still socked away IRA money from the jump...magic of compounding.

Fucking asshole.

How are people supposed to complete with you if you did the right thing earlier in life.

Your privilege is showing

[limitles]

Everyone starts little....first job outta school paid a cool $18K....had 2 room mates.


I still socked away IRA money from the jump...magic of compounding.

Fucking asshole.

How are people supposed to complete with you if you did the right thing earlier in life.

Your privilege is showing

Wow, what a wit. Complete high school.

[Texter]

Everyone starts little....first job outta school paid a cool $18K....had 2 room mates.


I still socked away IRA money from the jump...magic of compounding.

Fucking asshole.

How are people supposed to complete with you if you did the right thing earlier in life.

Your privilege is showing

I was living large driving that 11 year old Toyota Corolla...privileged indeed.

[Walter Sobchak]

Don't be alarmed all ye libtards! Biden has you covered. You know that 400K he says you have to make to get a tax increase. What he didn't tell you is thats for families. A single person making 200K is going to get a tax increase. HAHAHAHAHAHAHAHA!!!!! Jokes on you libtards!!!

Oh, and another way Biden is going to pay for the freeloader billionaires. You heard it here first!!!

Do you remember that "incompetent Trump" cutting the 15% tax bracket to 12%? And do you remember he doubled the standard deduction? Well, guess what. Those tax cuts are set to expire. And Uncle Joe is keeping mum about it. Thats because he will quietly let the cuts expire and the taxes will be raised back up on the lower class. REPEAT, BIDEN IS GOING TO LET THOSE CUTS EXPIRE.

You see? Uncle Joe has the billionaires covered. Liberal dogma is....taxes are for poor people. You got what you wanted when you voted in Uncle Joe, libtards.

Now....what was that you libtards were saying about being for the poor and downtrodden? HAHAHAHAHAHAHAHA!!!!!!!

What are you worried about, you'd have to clone yourself 6 times and all of you grind slots 24/7/365 before you hit 200K

[mickeycrimm]

Don't be alarmed all ye libtards! Biden has you covered. You know that 400K he says you have to make to get a tax increase. What he didn't tell you is thats for families. A single person making 200K is going to get a tax increase. HAHAHAHAHAHAHAHA!!!!! Jokes on you libtards!!!

Oh, and another way Biden is going to pay for the freeloader billionaires. You heard it here first!!!

Do you remember that "incompetent Trump" cutting the 15% tax bracket to 12%? And do you remember he doubled the standard deduction? Well, guess what. Those tax cuts are set to expire. And Uncle Joe is keeping mum about it. Thats because he will quietly let the cuts expire and the taxes will be raised back up on the lower class. REPEAT, BIDEN IS GOING TO LET THOSE CUTS EXPIRE.

You see? Uncle Joe has the billionaires covered. Liberal dogma is....taxes are for poor people. You got what you wanted when you voted in Uncle Joe, libtards.

Now....what was that you libtards were saying about being for the poor and downtrodden? HAHAHAHAHAHAHAHA!!!!!!!

What are you worried about, you'd have to clone yourself 6 times and all of you grind slots 24/7/365 before you hit 200K

You are really showing your ignorance here, wittle waltie. You don't know a damn thing about the current conditions in advantage machine play. Current conditions are outstanding. The year 2021 is the best I've ever seen it. Several new exploitable games this year. Combined with those already existing means we're in feast mode. Good slot AP's in the right spots are making at least 200K a year. We'll see how long it lasts.

And it's a grind? You've got to be kidding me. There's nothing about it thats a grind. Easiest money in gambling there is. Having the brains to do it is the hardest part. That counts you out, waltie. Are you still grinding the 2 cent/5 cent holdem games on Bovada?

[Walter Sobchak]

What are you worried about, you'd have to clone yourself 6 times and all of you grind slots 24/7/365 before you hit 200K

You are really showing your ignorance here, wittle waltie. You don't know a damn thing about the current conditions in advantage machine play. Current conditions are outstanding. The year 2021 is the best I've ever seen it. Several new exploitable games this year. Combined with those already existing means we're in feast mode. Good slot AP's in the right spots are making at least 200K a year. We'll see how long it lasts.

And it's a grind? You've got to be kidding me. There's nothing about it thats a grind. Easiest money in gambling there is. Having the brains to do it is the hardest part. That counts you out, waltie. Are you still grinding the 2 cent/5 cent holdem games on Bovada?

I don't play online poker so not sure what you're talking about there, you must be confused as usual.

Congrats on making such easy money in slots this year. Now stop evading taxes.

[mickeycrimm]

You are really showing your ignorance here, wittle waltie. You don't know a damn thing about the current conditions in advantage machine play. Current conditions are outstanding. The year 2021 is the best I've ever seen it. Several new exploitable games this year. Combined with those already existing means we're in feast mode. Good slot AP's in the right spots are making at least 200K a year. We'll see how long it lasts.

And it's a grind? You've got to be kidding me. There's nothing about it thats a grind. Easiest money in gambling there is. Having the brains to do it is the hardest part. That counts you out, waltie. Are you still grinding the 2 cent/5 cent holdem games on Bovada?

I don't play online poker so not sure what you're talking about there, you must be confused as usual.

Congrats on making such easy money in slots this year. Now stop evading taxes.

Its a myth I don't pay taxes. It's amazing to me people who live in glass houses like to throw stones. Penciling the IRS is he easiest thing in the world for gamblers to do. And here we have a forum full of gamblers pointing fingers at others about it. Fuck off and stop evading taxes yourselves.

[Daly]

Fucking asshole.

How are people supposed to complete with you if you did the right thing earlier in life.

Your privilege is showing

I was living large driving that 11 year old Toyota Corolla...privileged indeed.

Lot of locals friends in my “pier group” have refinanced homes, upgraded into a bigger house without real reason and many are driving 70-90K loaded SUV’s on payments.

I drive a late model Lincoln with 100K miles on her. I can’t wait to put antique plates on it.

[Kalam]

This last year I did a 1099 job and we started a business where we got to write off a bunch of stuff, and we hired some tax guys to take care of things, and it was pretty amazing how big a refund we got. When you have just been a working slob with a W2 your whole life, it really is amazing when you end up on the other side.

Disclaimer: The tax guy warned us we benefitted from some federal tax policies that are unlikely to continue, so things might not be as good moving forward.

But yeah, I think the current problem isn't so much that billionaires pay so little % wise in taxes, that has probably always been the case. Just the nature of how things are done for entities that own a lot of assets. The problem is that such a high % of money is being held by the very rich.

[Texter]

I was living large driving that 11 year old Toyota Corolla...privileged indeed.

Lot of locals friends in my “pier group” have refinanced homes, upgraded into a bigger house without real reason and many are driving 70-90K loaded SUV’s on payments.

I drive a late model Lincoln with 100K miles on her. I can’t wait to put antique plates on it.

Man after my own heart...my main car until my kid hit 16 was a 2005 Camry...which was only a few years ago. Where I work I lease a new car for $300 with no insurance and no maintenance...just swap it out at 10k miles....then use the clunker once in a while.

I don’t give a fuck about nice cars, watches etc....sure driving a BMW convertible is fun...but no car is fun in Houston traffic.

[Walter Sobchak]

This last year I did a 1099 job and we started a business where we got to write off a bunch of stuff, and we hired some tax guys to take care of things, and it was pretty amazing how big a refund we got. When you have just been a working slob with a W2 your whole life, it really is amazing when you end up on the other side.

Disclaimer: The tax guy warned us we benefitted from some federal tax policies that are unlikely to continue, so things might not be as good moving forward.

But yeah, I think the current problem isn't so much that billionaires pay so little % wise in taxes, that has probably always been the case. Just the nature of how things are done for entities that own a lot of assets. The problem is that such a high % of money is being held by the very rich.

These things are related.

[mickeycrimm]

This last year I did a 1099 job and we started a business where we got to write off a bunch of stuff, and we hired some tax guys to take care of things, and it was pretty amazing how big a refund we got. When you have just been a working slob with a W2 your whole life, it really is amazing when you end up on the other side.

Disclaimer: The tax guy warned us we benefitted from some federal tax policies that are unlikely to continue, so things might not be as good moving forward.

But yeah, I think the current problem isn't so much that billionaires pay so little % wise in taxes, that has probably always been the case. Just the nature of how things are done for entities that own a lot of assets. The problem is that such a high % of money is being held by the very rich.

These things are related.

wittle waltie does a lot of 1099 jobs....on other guys knobs. Hahahahahahahaha!!!!!

[BartHanson]

This last year I did a 1099 job and we started a business where we got to write off a bunch of stuff, and we hired some tax guys to take care of things, and it was pretty amazing how big a refund we got. When you have just been a working slob with a W2 your whole life, it really is amazing when you end up on the other side.

Disclaimer: The tax guy warned us we benefitted from some federal tax policies that are unlikely to continue, so things might not be as good moving forward.

But yeah, I think the current problem isn't so much that billionaires pay so little % wise in taxes, that has probably always been the case. Just the nature of how things are done for entities that own a lot of assets. The problem is that such a high % of money is being held by the very rich.

Most likely you got to take advantage of QBI which gives you a straight 20% deduction off your total tax liability for net business income. Thats one of the fortunate things that came out of the 2017 GOP tax cut and jobs act. Some of the unfortunate things that resulted from that bill is the $10k SALT cap (local taxes deduction like property tax) and specifically, for recreational gamblers, the raising of the standard deduction. The issue with claiming wins and losses as a recreational gambler is that in order to offset losses from your wins you must itemize your personal deductions resulting in you losing the standard deduction which is $12,550 for an individual and $25,100 for a married couple filing jointly.

[Walter Sobchak]

These things are related.

wittle waltie does a lot of 1099 jobs....on other guys knobs. Hahahahahahahaha!!!!!

Someone is insecure.

[Daly]

Lot of locals friends in my “pier group” have refinanced homes, upgraded into a bigger house without real reason and many are driving 70-90K loaded SUV’s on payments.

I drive a late model Lincoln with 100K miles on her. I can’t wait to put antique plates on it.

Man after my own heart...my main car until my kid hit 16 was a 2005 Camry...which was only a few years ago. Where I work I lease a new car for $300 with no insurance and no maintenance...just swap it out at 10k miles....then use the clunker once in a while.

I don’t give a fuck about nice cars, watches etc....sure driving a BMW convertible is fun...but no car is fun in Houston traffic.

Might have fucked up going without the gentlemen’s watch. I had my eye on a Rolex 10 years ago but decided to not move forward with it. Fast forward to today and the thing is up 400% from what I could have got it for.