It's a great sight as it has a 'bias' meter for every article and shows who's reporting on it the %'s of liberal or conservative or center media that's written an article and then has links to the articles written by each liberal, conservative or center outlets.
The nice part is that it's all on one site so you can get different perspectives without having to go to a bunch of sites, just have to go to this one.
Well I don't know about this article if it came from Right or Left, but this articles explain how US oligarchs (including Trump) avoided paying their fair share of taxes. Quite interesting article
Before we get to what does 'their fair share' mean, since when was it ok to release people's private tax returns?? Since Trump? That's BS imo and crossing a line that should include jail time. Even the criminals in DC should support that. Side note: can you see Pelosi or Mitch's tax return published on the net. They would freak out in a heartbeat.
So back to their fair share: look, there really is no tax 'loopholes'. It's either a legal deduction per tax code and GAAP (Generally Accepted Accounting Principles) or it's not. Also either all income reported or not.
Everything else is just snowflake FEELS.
Business expenses? either legal or not.
Depreciation expense? legal.
Write off for investment losses? legal.
Year over year carry over for loss write-offs? Mostly legal.
Cumulative WEALTH TAX? Not legal, yet. This is what the article is crying about.
Buffet complaining about the wealthy 'paying their fair share' and then paying zero in any tax year? Despicable, but still LEGAL.
Any questions?
NOTE: I am not a CPA so anyone feel free to correct me.
As for who's behind this S-I-T_E. Check out the video the founder is interviewed by Alison.
A little background on Alison Morrow - she was a tv reporter in Seattle until she got sick of the bs and quit. She's now an 'independent' journalist.
A lot of independent journalists on utube, odessy, locals etc. are using Ground News mainly because they give both sides of the story and you can see who's biased and in what direction without having to go to a bunch of different sites.
As far as the tax system/code goes.
I think it's time to revisit a flat tax again. Only not a 1 slot fits all.
I think a 5 or 6 tiered flat tax that increases with the top tier being for the bezos' & gates' of the world. It'd have to include no more deductions i.e. if you're in the 5% or 10% tier that's your tax, 28% same etc.
Has the added benefit of being able to cut the IRS by 60% cause you'd be able to do your taxes with a calculator.
have a national sales tax as part of it(that can be adjusted and tweaked on federal tax filings)...that way you can get to those that are not paying taxes...everyone spends money
I am up for tax remittances also...maybe 10 percent with the same adjustments to get credits back on individual tax filings
flat tax does not get to those that don't claim the income or delay the income. both or regressive and hit the poor harder, but can be tweaked to help them a bit more.
someone that is delaying income...won't necessarily delay the spending and thus the taxes would be coming
I'm good with the poor paying something...gas tax, sales tax...they end up getting lots of it back in other forms
I believe this website may be a honest attempt to balance out right/left opinions and to eliminate disinformation from the current social media/news.
Especially, past couple years, we are seeing away too many disinformation/false claims/fake news coming from right wing news and social media, our ears are full of meaningless information, just look at how many of them submitted daily by right wing propagandists here in HX. And frankly we are fed up with these disinformation and of those who are willing participants to harm our society.
However I still rely on major news organization to get some facts and if I want to dig out more details, I will read major newspaper articles, because only relying on this website the information will be limited. And nobody can be 100% impartial unless we record only the facts and figures, and that would be meaningless for anybody...
'lat tax does not get to those that don't claim the income or delay the income. both or regressive and hit the poor harder, but can be tweaked to help them a bit more.'
That's true a flat tax would only take into account earned income not deferred. Not sure how you would address deferred income.
I was thinking a tiered flat tax consisting of 5-6 ters, starting with a 0% tier for people that earn say 0-$30k and a top tier for the top 1%. Of course it would also include doing away with all deductions so everyone is paying. This could also be applied to business with the top tier for apple, chase, microsoft etc.
Of course I'd expect there to be major push back from the rich, major corps. and wall street.
'I believe this website may be a honest attempt to balance out right/left opinions and to eliminate disinformation from the current social media/news.'
It's one of the reason I like it. I don't watch any main stream news anymore as I don't trust/believe them - just look at what cnn has become.
But Ground gives me different perspectives of the same news so I can get the different perspectives without having to go to a bunch of different sites. Hopefully after reading several iterations I understand where everyone is coming from and I have a better handle on what's going on.
people spend money they know is in the bag...could be a stock that went from 1buck to 20bucks, and they won't sell it till it hits 40 bucks.
that would be just one prong of the taxes...mostly to get the non-reporters...the deferred stuff is more time-value issue, but sometimes it could be years with them finding ways to mitigate it along the way
If you blame CNN (which, by the way I hardly watch very much, since I don't subscribe to cable, perhaps just during my time at gym, but, I watch more for MSNBC), you should blame Fox news more, and that is more fairer for you to say.
For tax for ultrarich/oligarchs in the US, Biden and EU came up with "Global Minimum Tax" wherever the company is located, so if this will be applied to all the international giant corporation, there is no meaning for them to move to another country. Flat rate will not work for this type of corporation, just read the article I cited above.
if there is too many difference between poor/wealthier in terms of financial gains, this should be adopted to contribute to our economy, since they are the top 1% of all of our wealth combined, and they do anything to avoid taxes.
The tax loop hole that these companies you are described in the article, and it is pretty entertaining to read it.
Cnn was just an example. I blame all of main stream news and don't trust/believe any of them.
They all censor, obfuscate the facts depending on which side of center they're on and don't report but instead preach also depending on which side of the aisle they're on.
Yes that may be true, but as for major news sources, what they are telling us daily are basically "headlines" of what happened, or what will happen, with no opinions attached (otherwise they will get complaints from either side, right or left, and that is not a good for them because they lose their sponsors, at least they try to be neutral of what they say and what topics they choose).
So for me I never had any issues with major broadcasting channels (such as ABC/CBS etc..).
You have to get some information from these sources, and otherwise you become blind and deaf to what is happening in this world.
As I said earlier, if some of the topics caught my attention, I start looking for more details, and read articles, such as Washington Post...
I don't thins there is nothing wrong or bias about what I am doing...
“ Well I don't know about this article if it came from Right or Left, but this articles explain how US oligarchs (including Trump) avoided paying their fair share of taxes. Quite interesting article.”
Came from the left. I can tell because more than half of it nonsense.
'Came from the left. I can tell because more than half of it nonsense.'
Fine attached are 4 links - 2 are from center outlets and 2 are from conservative outlets. Take your pick.
And those were just the first centered and conservative outlets listed on Ground News.
Now you can get a bunch of different perspectives.
Can only add 3 links so:
Market Watch - Center
https://www.marketwatch.com/story/billionaires-including-jeff-bezos-and-elon-musk-avoided-paying-federal-income-taxes-in-some-years-report-says-11623147545?utm_source=ground.news&utm_medium=referral
Holy dumb fuckery, Batman!
It's like the blind leading the deaf around here, lol.
Not being from around these parts, it's no surprise that Rawdogger has no clue.
As currently setup, you pay taxes on INCOME, not on WEALTH.
You buy a stock, a house, jewelry, whatever.....
You have no taxable INCOME or DEDUCTION (in the case of a loss) til you SELL.
What is so fucking hard to understand about that?
Using terminology like oligarchs, etc. just shows how biased you are.
It is inexcusable stupidity to say that any of these people, even including the hypocrite Buffet, are evading paying taxes. Why single out Buffet?
Because like all lying Progressive Democrats, he made a big stink about how his secretary paid more in taxes than he did. This fucktard knew all he had to do was sell a billion in appreciated stock and he'd pay plenty of taxes. So, he's a lying little bitch.
But, if you watch his documentary, he's very clear why he doesn't pay taxes.
He knows that he can grow his wealth faster than anybody else and in the end, give it all to charity.
Where, as we all know, it will do more positive good than would ever be possible if it ended up in Washington's hand, by way of the IRS.
Does the site give story source?
That alone tells you a lot.
The original source for the tax evasion story is ProPublica, a supposedly non-biased investigative reporter based in NYC.
One has to question the non-biased label given that this report is perfectly timed to dovetail with grandpa's efforts to "collude" with European tax authorities to rig a minimum corporate tax globally.
Stories get planted like this all the time to assist in swaying the weak minded idiot.
Corporations are just pass thrus and don't pay taxes, people do.
I've had S corps and C corps plus multiple LLC's.
Government primarily siphons productive money and makes it unproductive, mostly.
There's a few services like police, fire, military, neutral ground for determing tort and civil law.
But, that's about it.
Most of the rest is smoke and mirrors to provide a place to go for people nobody else would hire.
Like Rawdogger
Rawdogger, buddy...chum.
You have no points, only biases.
They are very clear every time you post.
Republicans are demons and Democrats are knights in shining armor
This constant misconception that there's some qualitative difference between the 2 parties, is prima fascia evidence that you're a brain dead fucktard of the highest order.........times infinty
The only thing you are good at disrupting a good thread I and Atticus Finch was trying to establish here, and once you put your dirty foot and filthy mouth as you usually do everywhere, everything will be ruined and becomes nasty as your mind is
GB thinks he is one of oligarchs and all he wants to say is that their rights not to pay taxes are protected at any cost, because this narrow minded ass like GB only thinks his wealth is protected, nothing but a selfish SOB (though not sure how wealthy he is )
The main reason Tea Party and Trumpism came about was that after Globalism, the wealth has become more accumulated on 1% of the total population, and after 2008 collapse of worldwide economy, most of our allied countries started to change their stance. All the details were depicted in the book I already recommended to read in other blog; "After the Fall: Being American In the World We've Made" by Ben Rhodes.
Take a look at other countries, such as Hungary, Brasil, India ...they are all becoming more and more Authoritarian regimes because American lead Democracy/Capitalism caused them to lose their confidence in Democracy..
After this ProPublica article, one thing that became clear is that raising tax rates for ultrarich will not change anything, because the current tax system has a loophole, and as Elizabeth Wallen said already, this presents a clear problem and it needs to be fixed. And that is one of the reason I cited another article about "Global Mimimum Tax", which may be a good choice to resolve this problem.
Don't be too egotistic, selfish, you seem to be very frugal ass, am I wrong?
When you mention Buffet and Gates not paying taxes that is true, but you have not read about or investigated what they have done with their money. Buffet is trying to get the rich to donate a hefty percentage of their wealth to organizations. From the New York Times last July:
"Buffett announced on Wednesday that he donated $2.9 billion worth of stock to nonprofit groups, as the 89-year-old billionaire investor continues to follow through on his pledge to give away nearly all his fortune to philanthropic causes by the time he dies."
Bill and Melody Gates, Fact Check USA Today
"Bill Gates is a consistent target of conspiracy theories, many becoming especially heightened amid the coronavirus pandemic. While the tech billionaire remains the target of scorn and suspicion online, others defend Gates, citing his history of charitable contributions.
One viral post imagines Gates’ view of the current conspiracies, writing that the billionaire has spent “30 years" of his life and "$50 billion" of his net worth "supporting humanitarian causes.” ....
Gates is a noted philanthropist and has pledged a significant amount of money to research and charitable causes during the coronavirus pandemic. He has given more than $50 billion to charity since 1994. However, his wealth has grown even faster than he has donated money. .....
In 2010, Bill and Melinda Gates, alongside billionaire investor Warren Buffett, founded the “Giving Pledge,” a movement encouraging other billionaires to donate most of their wealth to charity either during their lifetimes or after their deaths. The voluntary group now includes more than 200 families and individuals from more than 20 countries."
So even though the Gates wealth is still growing, he has still to date given $50 billion and if he follows through on their pledge that number will at least double.
Yes they are deciding where the money goes. I think that is better than what the government does.
That's all well and good, but when you have some of the richest companies on earth creating shell companies in Ireland, the Bahamas and other tax friendly places, funneling all business though them and then owe $0 in US taxes, that is bullshit plain and simple.
Corporate tax issue is different.
Every country have a corporate tax rate and compete for the corporations to be located and pay taxes there.
Fixing the corporate tax issue would lower the tax rate for middle america so it would be extremely beneficial.
I really dont think it would matter much to a company like Apple if they paid taxes on all the earnings they are holding outside USA - the stock price would not fall, maybe initially but not over time.
As a person you cannot flee to other countries to avoid taxation in USA.
Strangely it is acceptable by entities to do so... (who said lobby-ism?)
whenever i see you type oligarchs, it comes across as some anti trump vibe
most all of these guys you keep referencing were probably biden people
think the bloom is off the rose on GATES...his lil trips with epstein...that shit will just be getting bigger for him. not digging his overall ideas and influence in the world
very cool that all his money will be going to charity...as great as that is...there is always the add'l hidden motives with it...lots of power and information coming his way. 50b foundation opens every door in the world under the guise of a do gooder.
we are finding that a good number of liberal fact checks are bullshit for both sides...gates might have said 3billion people need to die? that was what one guy intimated....maybe he heard it wrong
Daddy government handed out hundreds of billions of dollars to them
over the past year in COVID relief funds printed out of thin air
under the guise of stimulus checks
(For those broke boys that make less than 75k/year)
Meanwhile decimating their competition, little that there was left,
due the lockdowns equaling a further consolidation of wealth at the top
as they all recorded record profits
So now lets put a tax on them to recoup some of those diluted taxpayer dollars back
Ya, thatll do the trick
At this point all fiat currency is worthless
As long as the dollar is the currency of the petrol exchange
& the US military has the force to keep it that way is all that matters
Just ask Hussein, Sadam not Barack, & Gaddafi
Both tried to upend the dollar and ended up with hung with sticks up there ass
Leading to the worst modern humanitarian crises & further destabilization
equalling more foreign occupation
And now We got for Joey B talking tough but caving to Russian oil oligarchs for their
Pipeline to Germany but ending a domestic one that kills thousands of US jobs
Riiiiiiiiiight
Let's see where the Iranian Navy decides to dock those cruisers crossing the Atlantic right now..
Cuba, Venezuela?...
Lloyd Austin is so busy trying to Woke-ify the military and citing whites are the big internal problem to our forces.
Now we have the Iranians doing the same shit the Russians did to Kennedy down in Cuba.
World leaders see Biden and Harris as total roadkill. Our military is strong but from an executive negotiating and deterrence standpoint we are hopeless right now.
" I cited another article about "Global Mimimum Tax", which may be a good choice to resolve this problem. "
The fact that you actually believe this kind of shit is testament to how much of a complete loony fucktard you are. And, why nobody takes your posts seriously.
Only a retarded microencephalic with a brain tumor and half a prefrontal cortex would think that a Global Minimum Tax makes any sense at all......from a philosophical, social or even practical viewpoint.
One might think, at some point, that even a moron would learn the unique lesson of this pandemic.
DON'T BE FUCKING POOR
The system called Capitalism has created the richest country the world has ever seen....ever. period. Socialism, also known as living in equal misery, is and always will be a complete and utter failure at making society richer, as a whole.
The US is giving away 500,000,000 doses of vaccine, no strings attached because we can't use it. We're done, not many more people will get vaccinated at this point, primarily by their own choice.
Most of the rest of the world is dying, even worse......dying while theit family goes broke.
The political system and rule of law is paramount to creating a society that raises all boats, not one that simply rearranges the chairs on the Titanic.
I realize you didn't understand a word of my post
And that's OK
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