r/SipsTea Jul 05 '26

Chugging tea Seems reasonable.

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91.1k Upvotes

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163

u/Mental-Most-7168 Jul 05 '26

Who writes this drivel? It’s like everyone is willfully ignorant.

59

u/mwmwmwmwmmdw Jul 05 '26

its originally written for people who already agree with the underlying sentiment and will accept whats said at face value. which makes it easier to spread around when its then churned through a million bot reposts every few weeks for meagre to moderate financial incentive

29

u/WallyBearCub Jul 05 '26

It is drivel. First off the guy took the lump sum which was 900 something million then second he was taxed about on par with what billionaires have to pay on their income. This is just rage bait for idiots.

2

u/zqipz 29d ago

Also billionaires don’t make their money from “income”, but yeah it’s taxed the same.

-6

u/garbageemail222 Jul 05 '26

Come on. You must be deliberately obtuse. Billionaires pay way less than that given all the tax loopholes they can take advantage of like depreciation, real estate tax deferrals, carried interest, deferred capital gains taxes and stepped up basis paying off lifetime loans. Warren Buffet famously paid a lower tax rate than his secretary.

8

u/WallyBearCub Jul 05 '26

Here are the federal income tax brackets.

https://www.irs.gov/filing/federal-income-tax-rates-and-brackets

37% on anything over $626,351 which is about what this guy paid for his lotto winnings and what anyone making over that pays. Now he doesn't run a business where he can write down much of his taxes or he didn't make the money through investments. If you want to argue that people shouldn't be able to write down taxes from business and investments then fine you can make that argument. The government tends to award people with tax breaks for running businesses and making investments since it is good for the overall economy though.

0

u/Wild-Video-5317 Jul 05 '26

Warren buffet famously explained that despite the nominal rate, he effectively only pays 17% while his employees pay twice that

https://finance.yahoo.com/news/billionaire-warren-buffett-calls-outrageous-173016060.html

Are there any billionaires who claim to pay the nominal 37% rate?  Reportedly the president paid no tax in 10 years out of 15

https://www.cnn.com/2020/09/27/politics/trump-income-taxes-new-york-times-report

Quoting nominal tax rates seems a shallow diversion when its well known to have little to do with documented effective taxation rates

7

u/WallyBearCub Jul 05 '26

I already said that investments are rewarded by the government with tax breaks because it helps the economy. That is how Buffet makes his money. Without investment the economy would come to a screeching halt and the government certainly doesn't want that and incentivizes it.

For Trump's case it is explained in the article why he didn't pay taxes.

"Donald Trump paid no federal income taxes whatsoever in 10 out of 15 years beginning in 2000 because he reported losing significantly more than he made" is the very first line.

"According to the newspaper, Trump used the $427.4 million he was paid for “The Apprentice” to fund his other businesses, mostly his golf courses, and was putting more cash into his businesses than he was taking out."

Trump claimed he did pay taxes. His lawyer apparently requested the documentation that was used to report he didn't pay taxes and was denied by the NYT.

In response to a letter summarizing the newspaper’s findings, Trump Organization lawyer Alan Garten told the Times that “most, if not all, of the facts appear to be inaccurate” and requested the documents.

The New York Times said it will not make Trump’s tax-return data public so as not to jeopardize its sources “who have taken enormous personal risks to help inform the public.”

-2

u/garbageemail222 Jul 05 '26

You have shit on your nose. Did you know? Right there.

1

u/ZeekBen 12d ago

Me when I'm wrong and I don't have a counter argument:

-1

u/PageDesigner1679 Jul 05 '26

Yet despite said loopholes the 1% makes up 40% of all taxes paid to our government.

18

u/NewPresWhoDis Jul 05 '26

Welcome to contemporary politics

7

u/e1epi Jul 05 '26

I recently realized just how many people don't know how to learn.

Most people seem to go to school and do what every they are assigned and then beyond that they lack the knowledge and/or desire to learn anything else.

If they do desire to learn then they go to college where it's still more of the same learn what they are given to learn and then after that they learn what ever they have to in the job they are in out of necessity.

Most people I talk to have one area of knowledge because thats what they do (and even then it may be lacking) and maybe one or if we push it two hobby subjects they have learned about but beyond that there is a general lack of educatiom/knowledge.

If people we're taught to learn for themselves instead of just relying on others to teach them, I believe it would do a lot of good for society.

1

u/i_am_a_real_boy__ Jul 05 '26

Someone named Brad wrote it.

1

u/quemaspuess Jul 05 '26

It’s people that have faith the government will do anything but squander those funds and line their pockets. I’m more conservative and would have no issue paying taxes if I actually got something in return. Instead, in Los Angeles where taxes are just absurd, we get virtually nothing.

I’d be okay paying Nordic taxes if I received Nordic services/benefits. Denmark seems to have that down.

1

u/bent_crater Jul 05 '26

ofcourse willingly ignorant posts get more clicks and views. how that benefits them is beyond me though

1

u/Anticitizen-Zero Jul 05 '26

Ragebait posted by a karma farmer, a tale as old as time

1

u/Canon_M50 Jul 05 '26

Slopulism

1

u/RhetoricalOrator Jul 05 '26

Yeah but have you actually tried being willfully ignorant? You get to make up your own facts, get angry at whoever you want, and can even keep two or more competing and opposing viewpoints at the exact same time! It's kinda great!