The Harsh Reality Of TAXES In The USA

[Justinfred]

Small taxes can affect investment decisions such as whether to choose tax-free municipal bonds over taxable bonds or do a Roth IRA conversion. I’ve been sitting on over $745K equity from a home sale and I want to invest on the stock market, how do I achieve this without being taxed twice?

[kabine]

Seems like it's reasonable to say the government has a spending problem. We have a pretty progressive tax system.

[Akwardred]

Realistically we need to cut the budget but saying we need to cut anywhere in the budget is a political nightmare.

[ivanpadilla]

This is the financial audit after all. Tell the Government to stop wasting money on TAQUITOS!

[mrmoosetachio]

This is what I always think of when people talk about "tax the rich"

...we are already doing that. If you make the tax burden too severe, they'll find ways to take their money out of our system which will benefit no one in the end.

[mattblair]

The Federal Government spend roughly $6mil per minute every day of the week!! We dont have millionaire or billionaire problem, we've got a Federal spending problem!!!

[caseynash]

But but but pay your fair share
But but but corporate greed
Corporations DO NOT pay taxes. They get a tax bill, but that cost gets passed along to the consumer.
Losses can also be carried over.

[sheridan]

The issue is going to be that people, particularly in the middle income group don’t have anywhere close to the discretionary spending power of people in that upper 10%. So things like sales tax and property taxes make a pretty huge impact on overall budget of those families.

[HolyHotPies]

Yes because rent doesn’t cost a percentage of my time, it costs a flat rate. So does food, insurance, education, etc. It costs a flat rate to survive. A person going from 9 to 10 dollars needs that one dollar much more than someone going from 999, 999 to 1, 000, 000 dollars

[ThornEternal]

The problem isn’t how much we bring in. It’s how much we spend.

[justinantonius]

I once knew a guy who had 165 million he told me he could never use it liquid because he would have to pay over 50% into taxes so instead he owned over 300 vacation rentals in California and Hawaii and immediately spent all the income on his house vehicle or personal restaurant within one year so that they would tax as little as possible.
1 year he even gave many of his tenants December rent for free because he said the government would just get it anyway 😂🤣👌

[lifeofalex]

But those dang rich people need to pay their fair share right? 169, 000 isn’t even rich these days, that’s comfortable.
6 figure incomes ain’t what they used to be.

[EvanMichael]

We don’t have a rich people don’t pay their fair share problem. We have a big government with unchecked ambition problems.

[Gtort]

Now do a video that shows who uses most of the taxes paid to the government

[Zeitlerchasedbybear]

As a CPA, I have never met a liberal when it’s time to file taxes

[Someone-qqzd]

This sounds progressive, but it’s not really when you compare it to the wealth inequality in the US. Although the top 10% pay 75.8% of income taxes, they control around 70% of the total wealth of the country, whereas the bottom 50% of earners pay 6% of the total taxes but only control 2.5% of the total wealth. This disparity in taxes really just shows the disparity in earnings.

[dandelice]

If you make the lion share of the profit, you should pay the lions share of the tax bill

[Beginningtopeak]

The math is easier when you just say that over 40% of Americans don’t pay ANY income tax. Almost half the country has no tax burden on them at all. But they want to talk about how unfair it is

[yungburd]

The number of people in the comments who don’t understand that the govt has incentives for those who create/provide jobs and housing and think it’s a “loophole” is shocking.

[joshburkhart]

Taxes take money out of the economy and puts it into government hands.