There's a reason why the statistic uses the wording it does. Tax shelters are thing. Here's a recent example: https://www.propublica.org/article/irs-files-taxes-wash-sales-goldman-sachs
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When will the contract extension expire for Disney Employees?
- Thread starter monica9
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They actually went in depth on the skirting of wash sale rules this morning on CNBC too. Not sure what that has to do with the misleading percentage quoted, though. The WH clearly stated it was based on income and asset gains (The analysis from OMB and CEA economists estimates that the wealthiest 400 billionaire families in America paid an average of just 8.2 percent of their income—including income from their wealth that goes largely untaxed—in Federal individual income taxes between 2010 and 2018.)
The complex mess that is our tax code leads to all kinds of questionable things and adding the taxation of unrealized gains would only add to the mess Greatly! Going after illegal things like wash sales should obviously be done but the idea of taxing gains that could be here today and gone tomorrow is just crazy. So many questions about how to value that wealth that takes so many forms how do you value that business you own or that piece of art, or your furniture or...etc. You really think the government will get all that right? Nope and there will be constant court challenges, just a big giant mess.
Now, if you are taking a loan against assets and you use the proceeds to live on or invest in something else, there should be a way to tax that because you are pulling proceeds out of the assets. I have no problem with going after it that way.
And I'm here for it. We should tax people based on what they can afford. The wealthiest should provide more leverage. Under the current system, they're not pulling their weight. Period.
Douglas Dubh
DIS Veteran
- Joined
- Nov 13, 1999
The top 1% of taxpayers earned 22% of the total AGI in 2020 but paid 42% of all federal income taxes. Why is that not enough?
- Joined
- Apr 29, 2004
Who and how is that decided?
Because if it were, all the income household income relative to inflation charts would show improvement in the middle and lower classes. Instead, they show the opposite.
Only the ultra-rich, the smallest segment of the population, demonstrates increasing wealth. There are simple reasons why every generation but Boomers lacks the requisite retirement savings as average household debt increases. The taxation system we have in place is woefully equipped to address this imbalance. That's why it continues to increase, especially in times of high inflation like a pandemic with associated supply chain issues.
You clearly believe otherwise, which is your right as an American. However, I think we've reached a point of diminishing returns on this part of the conversation, which is ostensibly about union negotiations for woefully underpaid cast members. So, I've said my peace and will circle back to the union aspect from now on.
Douglas Dubh
DIS Veteran
- Joined
- Nov 13, 1999
Not really, income charts aren’t adjusted for either taxes or for government benefits.
All income brackets have increased in wealth, and they all tend to do so more when taxes are flattened.
IanDLBZF from MCMagic
DIS Veteran
- Joined
- Apr 2, 2015
Statement from Unite Here Local 737
Madteaparty001
DIS Veteran
- Joined
- Aug 21, 2014
I think Disney was hoping the layoff announcement would scare the union into compliance, but Universal's announcement definitely undercut that. They need to let go of the hot air and open their wallets, a happy workforce is an investment.
They wouldn't be opening their wallets, they would be opening your wallet!
kassonvike
Mouseketeer
- Joined
- Jul 15, 2010
Get rid of income tax and have a federal sales tax instead? No more need for an IRS
.This is not a great look for Disney, especially after the Universal announcement. I thought the company had moved on from self inflicted public relations wounds when the new/old Bob came back, I guess not.
- Joined
- Apr 29, 2004
Get rid of income tax and have a federal sales tax instead? No more need for an IRS
Madteaparty001
DIS Veteran
- Joined
- Aug 21, 2014
They've been trying to pry my wallet open forever with raising party ticket prices, Genie+, mandatory limited multicourse menus, etc. At least this time it goes to making the people that actually make the place run happy and comfortable.
AvidDisReader
DIS Veteran
- Joined
- Mar 24, 2019
Disney appears to be living in the past. There is a tight labor market, so all the advantage is to the Union. With Universal now offering $17, and with a need for them to staff up with their new park, Disney better rethink their strategy. Otherwise, they are going to wake up one day soon and find no one left to work their parks.
xipotec
Grinning Ghosts
- Joined
- Feb 16, 2011
should be 75-80, like is used to be
Douglas Dubh
DIS Veteran
- Joined
- Nov 13, 1999
The top 1% never paid that much. When marginal rates were higher, everyone made less.
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