Liberal Forum

No. They don't actually.

You can't compare the tax system between the ultra-wealthy and the middle class. Yes, they have a marginal tax rate that is much higher than the middle-class. So? There is more to it than the marginal tax-brackets. Our beloved tax system taxes income, not wealth. But the richest Americans often don’t rely on salaries, like most of the country does. Instead, they live off investments, borrowing against their assets, and appreciating wealth, which can go untaxed indefinitely. Example: Billionaires like Elon Musk or Jeff Bezos can avoid selling stock, which would trigger taxes, and instead borrow money using their stock as collateral. 

Now...there is a flip side to this coin that has merit. There is no law against starting your own company and turning it into a multi-billionaire dollar empire. Fair point. Nonetheless, that doesn't negate the point. We all live in this land. We all have a stake in it. The infrastructure and the overall social welfare apply to all Americans. Thus, regardless of your wealth, we should all pay our fair share.  

It was calculated that if billionaires paid the same rate as the average joe, then the average billionaire that pays 13 billion would actually pay 80 billion. 

After diving into ChatGPT’s analysis, I realized the conversation about billionaire taxes is more complicated than simple rate comparisons. Under current law, wealthy Americans do pay their required taxes. But the system allows their wealth to grow in ways that are largely untaxed, while regular workers pay taxes on every dollar they earn.The AI concluded that if we could successfully tax billionaires more like middle-class workers, the results would mean hundreds of billions in additional revenue annually and potentially better funding for health, education and climate programs. What’s more, it could have the power to reduce inequality and improve public trust in the tax system. Maybe the real question isn’t whether billionaires should pay more taxes, but whether our entire approach to taxing work versus wealth makes sense in an economy where most billionaires’ fortunes come from asset appreciation rather than traditional income.

I Asked ChatGPT What Would Happen If Billionaires Paid Taxes at the Same Rate as the Middle Class
 
 

Vegas » 04 Aug 2025, 3:46 pm » wrote: ↑

04 Aug 2025, 3:46 pm

No. They don't actually.

You can't compare the tax system between the ultra-wealthy and the middle class. Yes, they have a marginal tax rate that is much higher than the middle-class. So? There is more to it than the marginal tax-brackets. Our beloved tax system taxes income, not wealth. But the richest Americans often don’t rely on salaries, like most of the country does. Instead, they live off investments, borrowing against their assets, and appreciating wealth, which can go untaxed indefinitely. Example: Billionaires like Elon Musk or Jeff Bezos can avoid selling stock, which would trigger taxes, and instead borrow money using their stock as collateral. 

Now...there is a flip side to this coin that has merit. There is no law against starting your own company and turning it into a multi-billionaire dollar empire. Fair point. Nonetheless, that doesn't negate the point. We all live in this land. We all have a stake in it. The infrastructure and the overall social welfare apply to all Americans. Thus, regardless of your wealth, we should all pay our fair share.  

It was calculated that if billionaires paid the same rate as the average joe, then the average billionaire that pays 13 billion would actually pay 80 billion. 

I Asked ChatGPT What Would Happen If Billionaires Paid Taxes at the Same Rate as the Middle Class

AI is retarded, and you’ll lose critical thinking skills relying on it, retard.

 
 

Vegas » 04 Aug 2025, 3:46 pm » wrote: ↑

04 Aug 2025, 3:46 pm

No. They don't actually.

You can't compare the tax system between the ultra-wealthy and the middle class. Yes, they have a marginal tax rate that is much higher than the middle-class. So? There is more to it than the marginal tax-brackets. Our beloved tax system taxes income, not wealth. But the richest Americans often don’t rely on salaries, like most of the country does. Instead, they live off investments, borrowing against their assets, and appreciating wealth, which can go untaxed indefinitely. Example: Billionaires like Elon Musk or Jeff Bezos can avoid selling stock, which would trigger taxes, and instead borrow money using their stock as collateral. 

Now...there is a flip side to this coin that has merit. There is no law against starting your own company and turning it into a multi-billionaire dollar empire. Fair point. Nonetheless, that doesn't negate the point. We all live in this land. We all have a stake in it. The infrastructure and the overall social welfare apply to all Americans. Thus, regardless of your wealth, we should all pay our fair share.  

It was calculated that if billionaires paid the same rate as the average joe, then the average billionaire that pays 13 billion would actually pay 80 billion. 

I Asked ChatGPT What Would Happen If Billionaires Paid Taxes at the Same Rate as the Middle Class

To your retarded tax theory, the Uber rich already pay a large part of the less successful folks taxes. Why should it cost them more for the same benefits of society that everyone else gets for less?
 

Cedar » 04 Aug 2025, 4:45 pm » wrote: ↑

04 Aug 2025, 4:45 pm

To your retarded tax theory, the Uber rich already pay a large part of the less successful folks taxes. Why should it cost them more for the same benefits of society that everyone else gets for less?

You didn't read one word of the OP, did you? If you did, then you would know the answer to that. 

Cedar » 04 Aug 2025, 4:40 pm » wrote: ↑

04 Aug 2025, 4:40 pm

AI is retarded, and you’ll lose critical thinking skills relying on it, retard.

It's smarter than you. Besides, it's my words up there. 

Vegas » 04 Aug 2025, 3:46 pm » wrote: ↑

04 Aug 2025, 3:46 pm

No. They don't actually.

You can't compare the tax system between the ultra-wealthy and the middle class. Yes, they have a marginal tax rate that is much higher than the middle-class. So? There is more to it than the marginal tax-brackets. Our beloved tax system taxes income, not wealth. But the richest Americans often don’t rely on salaries, like most of the country does. Instead, they live off investments, borrowing against their assets, and appreciating wealth, which can go untaxed indefinitely. Example: Billionaires like Elon Musk or Jeff Bezos can avoid selling stock, which would trigger taxes, and instead borrow money using their stock as collateral. 

Now...there is a flip side to this coin that has merit. There is no law against starting your own company and turning it into a multi-billionaire dollar empire. Fair point. Nonetheless, that doesn't negate the point. We all live in this land. We all have a stake in it. The infrastructure and the overall social welfare apply to all Americans. Thus, regardless of your wealth, we should all pay our fair share.  

It was calculated that if billionaires paid the same rate as the average joe, then the average billionaire that pays 13 billion would actually pay 80 billion. 

I Asked ChatGPT What Would Happen If Billionaires Paid Taxes at the Same Rate as the Middle Class

exactly.

 

Vegas » 04 Aug 2025, 3:46 pm » wrote: ↑

04 Aug 2025, 3:46 pm

Now...there is a flip side to this coin that has merit. There is no law against starting your own company and turning it into a multi-billionaire dollar empire. 

No law that you know about. No law that is passed by the pets of the uberwealthy. 

But if you believe an honest man will be suffered to become a billionaire, bless your heart.
 

Vegas » 04 Aug 2025, 3:46 pm » wrote: ↑

04 Aug 2025, 3:46 pm

No. They don't actually.

You can't compare the tax system between the ultra-wealthy and the middle class. Yes, they have a marginal tax rate that is much higher than the middle-class. So? There is more to it than the marginal tax-brackets. Our beloved tax system taxes income, not wealth. But the richest Americans often don’t rely on salaries, like most of the country does. Instead, they live off investments, borrowing against their assets, and appreciating wealth, which can go untaxed indefinitely. Example: Billionaires like Elon Musk or Jeff Bezos can avoid selling stock, which would trigger taxes, and instead borrow money using their stock as collateral. 

Now...there is a flip side to this coin that has merit. There is no law against starting your own company and turning it into a multi-billionaire dollar empire. Fair point. Nonetheless, that doesn't negate the point. We all live in this land. We all have a stake in it. The infrastructure and the overall social welfare apply to all Americans. Thus, regardless of your wealth, we should all pay our fair share.  

It was calculated that if billionaires paid the same rate as the average joe, then the average billionaire that pays 13 billion would actually pay 80 billion. 

no spam

Dirt was made by funguys

youtube /watch?v=KqpWTC-rvhQ
 

I think eventually Congress will be forced to raise the cap on Social Security and Medicare to half a million dollars if nothing else to bail out those 2 programs projected to start going broke in 2032 and 2035
 

TwoIfByTea » 04 Aug 2025, 11:21 pm » wrote: ↑

04 Aug 2025, 11:21 pm

I think eventually Congress will be forced to raise the cap on Social Security and Medicare to half a million dollars if nothing else to bail out those 2 programs projected to start going broke in 2032 and 2035

Agree. They borrow from SS and Medicare and then leave it to the future presidents to fix it...which they don't. 

Cannonpointer » 04 Aug 2025, 8:02 pm » wrote: ↑

04 Aug 2025, 8:02 pm

No law that you know about. No law that is passed by the pets of the uberwealthy. 

But if you believe an honest man will be suffered to become a billionaire, bless your heart.

Didn't BV create a billion-dollar enterprise from a chain pepper spray stores? 

TwoIfByTea » 04 Aug 2025, 11:21 pm » wrote: ↑

04 Aug 2025, 11:21 pm

I think eventually Congress will be forced to raise the cap on Social Security and Medicare to half a million dollars if nothing else to bail out those 2 programs projected to start going broke in 2032 and 2035

if you are talking about raising the cap on how much money can be taxed for social security through taxes you are right.


raising the cap is better than........

reducing benefits...

raising the retirement age both of which are under consideration,

 

TwoIfByTea » 04 Aug 2025, 11:21 pm » wrote: ↑

04 Aug 2025, 11:21 pm

I think eventually Congress will be forced to raise the cap on Social Security and Medicare to half a million dollars if nothing else to bail out those 2 programs projected to start going broke in 2032 and 2035

right now the cap is 187,000-- anything over that does not get taxed for social security/ medicare.

TwoIfByTea » 04 Aug 2025, 11:21 pm » wrote: ↑

04 Aug 2025, 11:21 pm

I think eventually Congress will be forced to raise the cap on Social Security and Medicare to half a million dollars if nothing else to bail out those 2 programs projected to start going broke in 2032 and 2035

the republicans' plan and a good part of why they want to control the government.
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https://www.budget.senate.gov/chairman/ ... -cbo-finds

.The current budget proposed by the Republican Study Committee, which represents 80 percent of House Republicans, calls for $1.5 trillion in cuts to Social Security benefits over the next 10 years.  It would reduce benefits for seniors and raise the retirement age to 69, which would especially hurt low-income retirees.
 
 

“Raising the retirement age is a benefit cut, as CBO has made crystal clear” said Senate Budget Chairman Sheldon Whitehouse (D-RI). “With Social Security facing a looming solvency problem, there are mathematically only two choices to address the shortfall: raise revenues or cut benefits.  The promise of Social Security is a promise we cannot break, and by making the wealthy pay their fair share, we can protect Social Security forever.  My Medicare and Social Security Fair Share Act would unrig our tax code and shore up this bedrock of the American retirement system as far as the actuarial eye can see—all with zero cuts to benefits. But House Republicans would rather slash benefits than make their megadonors pay up, and for their part, Senate Republicans have put forward no concrete plans.” “Republicans who want to raise the retirement age for Social Security should look carefully at data like this before forcing older Americans to wait even longer for their earned benefits,” said Senate Finance Committee Chair Ron Wyden (D-OR). “Raising the retirement age is a cruel idea that ought to be banished from public debate forever. The fact of the matter is Social Security can be saved for the next generation and beyond simply by asking wealthy Americans to pay their fair share in taxes, not depriving working Americans of their earned benefits.”According to CBO, anyone born after 1971 would see their benefits cut an average of 13 percent. Moreover, raising the retirement age would not change the year Social Security would go insolvent.The Social Security and Medicare actuaries found that Budget Chairman Whitehouse’s Medicare and Social Security Fair Share Act would make the respective programs solvent in perpetuity by raising taxes on households making over $400,000

TwoIfByTea » 04 Aug 2025, 11:21 pm » wrote: ↑

04 Aug 2025, 11:21 pm

I think eventually Congress will be forced to raise the cap on Social Security and Medicare to half a million dollars if nothing else to bail out those 2 programs projected to start going broke in 2032 and 2035

republicans do not want this...... no no no

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The Social Security and Medicare actuaries found that Budget Chairman Whitehouse’s Medicare and Social Security Fair Share Act would make the respective programs solvent in perpetuity by raising taxes on households making over $400,000

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Here Are the 6 Social Security Changes President Trump Has Made So Far in 2025   

Facilitating the Social Security Fairness Act's benefit increase for 3.2 million seniors.....No other POTUS could do it!
Terminating some Social Security office leases Getting RID of the Riff Raff
Reinstating the 100% overpayment recovery rate Cares a Lot 
Expediting direct deposit changes Getting your money to you faster
 Adding new identity verification requirements MUST be LEGAL
Ending delivery of most paper S S checks No other POTUS could do it!
 
 

How many jobs do poor people create. Businesses that last reinvest and do things right. They should not be punished with high taxes.