Stop in for a cup of coffee

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got it.
 
I was just saying, the Tax code is written by, and for, large corporations. And of course, billionaires... I think it is wrong to tax retired people on there unrealized income, property tax, to the point that many lose there life long home. AND not tax the unrealized income, Stock options, the same way, on Billionaires... JMO. And not trying to be political.......
 
Mopar Tim said:
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The math on this isn’t entirely accurate. Musk owns Tesla, which is where most of his “worth” is in. What’s not usually taken into account it the assets and debts that Tesla has. Which sits about 30 billion in debt. It also heavily factors in unrealized stock prices.

all that said, his true net worth is likely about 30-40 percent of that.

But let’s assume the 297 billion worth is in cash dollars . And let’s say we tax Elon and 100 percent and take every dime he has. In the month of October alone, the US budget deficit was 167 BILLION dollars. That’s just the deficit. he couldn’t even cover that.

Now let’s break it even further. The US government spends roughly 2,220,000 dollars every 1 seconds. That means that Elon could fund the Government by him for all of 37 hours and 15 minutes.

Now let’s keep going.

take the top 10 billionaires in the world. Their total wealth combined is 1.48 trillion. Which means combined, they could find the US government for 186 hours... or about 8 days.
The problem isn’t that some <1 percent aren’t paying enough in taxes(they’re paying roughly 38 percent just to the feds of what they make every year, yes they can use loop hole to lower it further and they do. But for sake of discussion, let’s assume they are paying)

the problem is, we are spending way to much on bs crap. Like hundreds of millions to a foreign country to study “how many genders there are in humans”.
 
Mopar Tim said:
I was just saying, the Tax code is written by, and for, large corporations. And of course, billionaires... I think it is wrong to tax retired people on there unrealized income, property tax, to the point that many lose there life long home. AND not tax the unrealized income, Stock options, the same way, on Billionaires... JMO. And not trying to be political.......
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Currently, no one pays taxes on any unrealized gains. Not until they become realized. At least at a fed level. California well that’s another matter. And there’s plenty of ways to reduce the tax hits if you know where or how to do it.
 
dukeboy_318 said:
The math on this isn’t entirely accurate. Musk owns Tesla, which is where most of his “worth” is in. What’s not usually taken into account it the assets and debts that Tesla has. Which sits about 30 billion in debt. It also heavily factors in unrealized stock prices.

all that said, his true net worth is likely about 30-40 percent of that.

But let’s assume the 297 billion worth is in cash dollars . And let’s say we tax Elon and 100 percent and take every dime he has. In the month of October alone, the US budget deficit was 167 BILLION dollars. That’s just the deficit. he couldn’t even cover that.

Now let’s break it even further. The US government spends roughly 2,220,000 dollars every 1 seconds. That means that Elon could fund the Government by him for all of 37 hours and 15 minutes.

Now let’s keep going.

take the top 10 billionaires in the world. Their total wealth combined is 1.48 trillion. Which means combined, they could find the US government for 186 hours... or about 8 days.
The problem isn’t that some <1 percent aren’t paying enough in taxes(they’re paying roughly 38 percent just to the feds of what they make every year, yes they can use loop hole to lower it further and they do. But for sake of discussion, let’s assume they are paying)

the problem is, we are spending way to much on bs crap. Like hundreds of millions to a foreign country to study “how many genders there are in humans”.
Click to expand...
Fact it as a country overspend.....
 
dukeboy_318 said:
Currently, no one pays taxes on any unrealized gains. Not until they become realized. At least at a fed level. California well that’s another matter. And there’s plenty of ways to reduce the tax hits if you know where or how to do it.
Click to expand...
Well, yes we do, called property tax.... You pay on estimated value.....Not what you paid for it.... This is getting to wrong, so I am wrapping this up... Sorry TMM.
 
Mopar Tim said:
I was just saying, the Tax code is written by, and for, large corporations. And of course, billionaires... I think it is wrong to tax retired people on there unrealized income, property tax, to the point that many lose there life long home. AND not tax the unrealized income, Stock options, the same way, on Billionaires... JMO. And not trying to be political.......
Click to expand...
Not really anything political about it. For the most part, the rich make the rules. I think most of the political crap we see is for our entertainment while 'they' get what they want. Doesn't seem to matter what party or even what form of government. Always a huge divide between richest and most everyone else. Thats almost any country and any point in history.
 
Mopar Tim said:
Well, yes we do, called property tax.... You pay on estimated value.....Not what you paid for it.... This is getting to wrong, so I am wrapping this up... Sorry TMM.
Click to expand...
Here, our taxes are fixed off 5 year appraisals. There’s a published formula that includes purchase price and depreciation. Takes all the “estimates” out.
 
zkx14 said:
Not really anything political about it. For the most part, the rich make the rules. I think most of the political crap we see is for our entertainment while 'they' get what they want. Doesn't seem to matter what party or even what form of government. Always a huge divide between richest and most everyone else. Thats almost any country and any point in history.
Click to expand...
Yep.
 
Mopar Tim said:
Well, yes we do, called property tax.... You pay on estimated value.....Not what you paid for it.... This is getting to wrong, so I am wrapping this up... Sorry TMM.
Click to expand...
See this time was Tim’s fault :rofl:
 
So went thru all the trouble shooting GV gave me this morning. Controller is bad. Like I told them from the start......
 
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