A Boring Dystopia

9748 readers

161 users here now

Pictures, Videos, Articles showing just how boring it is to live in a dystopic society, or with signs of a dystopic society.

Rules (Subject to Change)

--Be a Decent Human Being

--Posting news articles: include the source name and exact title from article in your post title

--Posts must have something to do with the topic

--Zero tolerance for Racism/Sexism/Ableism/etc.

--No NSFW content

--Abide by the rules of lemmy.world

founded 1 year ago

MODERATORS

givesomefucks@lemmy.world

The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax (www.propublica.org)

submitted 4 months ago by return2ozma@lemmy.world to c/aboringdystopia@lemmy.world

10 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] ShaggySnacks@lemmy.myserv.one 0 points 4 months ago (1 children)

Warren Buffet is hypocritical piece of shit.

No one among the 25 wealthiest avoided as much tax as Buffett, the grandfatherly centibillionaire. That’s perhaps surprising, given his public stance as an advocate of higher taxes for the rich. According to Forbes, his riches rose $24.3 billion between 2014 and 2018. Over those years, the data shows, Buffett reported paying $23.7 million in taxes.

That works out to a true tax rate of 0.1%, or less than 10 cents for every $100 he added to his wealth.

[–] damnedfurry@lemmy.world 0 points 4 months ago* (last edited 4 months ago)

My "true tax rate" is a low single digit number too, if you measure it the same way, and I make ~$50k a year.

It's extremely disingenuous to talk about taxes paid as a percentage of income, and as a percentage of total wealth/net worth, in the same breath, as if they are anywhere near the same thing.

It's also extremely disingenuous to say someone is 'avoiding tax' by not paying tax on their unrealized gains in net worth. He doesn't OWE any tax on that. NOBODY in the US does.

This is like calling someone a draft dodger, who was never drafted, lol.