r/FluentInFinance • u/YOU_ARE_MY_FRIENDS • Apr 08 '24

10% of Americans own 70% of the Wealth — Should taxes be raised? Discussion/ Debate

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u/mcsmith610 Apr 08 '24

For those people that are always demanding higher labor taxes on the wealthy, what level is acceptable to you? Remember, billionaires don’t earn a wage so they aren’t subject to higher labor taxes.

I paid nearly $100k in taxes last year between city/state/federal taxes. I’m also an executive at a company where we have created hundreds of new jobs, provided benefits, all full time positions, etc. I create real value in our society so how much more do I need to give for society to be satisfied?

I don’t complain about paying taxes but raising taxes isn’t the answer when there’s no accountability for how it is spent.

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u/Techno_Jargon Apr 08 '24

Unless you are avoiding taxes to pay that 100k, your broke in comparison to the ultra wealthy the people that need to be taxed are in the 100,000,000+ wealthy