#UltraRich #Taxes #Wealthy #TaxReform #Government #FinancialResponsibility
Some ultra rich individuals have recently voiced their support for paying more taxes. This has sparked a debate about the responsibility of the wealthy to contribute their fair share to society. But the question remains – if these ultra rich individuals truly want to pay more taxes, couldn’t they just send money as if they paid those taxes, for a start, to gain credibility for their claim?
🤔 In this article, we’ll explore the concept of wealthy individuals voluntarily contributing more to the government and the potential impact it could have on tax reform and the legitimacy of government tax collection.
## The Hypocrisy of Demanding More Taxes
The idea of ultra rich individuals demanding to pay more taxes but not taking action to do so themselves may seem hypocritical to some. After all, if they truly believe in the importance of contributing more to societal welfare, shouldn’t they lead by example?
👉 Example: Warren Buffet, one of the wealthiest individuals in the world, has publicly stated that he pays a lower tax rate than his secretary due to tax loopholes. Despite this, he has not taken any steps to voluntarily pay more taxes.
### Voluntary Contributions as a Starting Point
If ultra rich individuals are sincere about paying more taxes, they could make voluntary contributions to the government as a starting point. This would not only demonstrate their commitment to their cause but also provide additional funding for public services.
👉 Example: The “Patriotic Millionaires” is a group of high-net-worth individuals who advocate for higher taxes on the wealthy. Some members of this group have voluntarily raised their own taxes by making contributions to the IRS above what is legally required.
## The Impact on Tax Reform
By voluntarily paying more taxes, ultra rich individuals could influence discussions around tax reform and highlight the need for a fairer system. Their actions could serve as a catalyst for change and inspire others in similar financial positions to do the same.
👉 Example: When Bill and Melinda Gates pledged to give away the majority of their wealth through their foundation, it sparked conversations about the philanthropic responsibility of the ultra rich and prompted others to follow suit.
### Legitimacy of Government Tax Collection
Questioning the legitimacy of government tax collection is a valid concern. If ultra rich individuals are unwilling to pay more taxes through government channels but advocate for others to do so, it raises questions about the credibility of the tax system.
👉 Example: Studies have shown that tax evasion by the ultra rich costs governments billions of dollars each year, undermining the effectiveness of tax collection and leading to greater economic inequality.
## Conclusion
In conclusion, the issue of ultra rich individuals demanding to pay more taxes while not taking action themselves is a complex and multifaceted one. Voluntary contributions could serve as a meaningful starting point and potentially influence broader discussions around tax reform. However, the impact of such actions on the legitimacy of government tax collection should also be carefully considered.
By taking proactive steps to contribute more to society, the ultra rich have the opportunity to lead by example and bring about positive change in the realm of tax reform and financial responsibility.
In the end, the responsibility should not fall solely on the wealthy, but on all individuals to contribute their fair share to create a more equitable and just society.
I’ve asked this question many times over the years. About 20 years ago there was a guy pushing for a state income tax in our state. He was challenged by a local radio personality who asked him, “ if this is such a great idea, why don’t you lead by example? I will drive you down to the state capital tomorrow morning. We can call all the local news outlets and you can write a check for $10,000 to kick things off.” of course that pretty much ended the conversation.
Also, why aren’t we asking a question, “ how can we spend less as a nation?”
And for all you lefties out there, name for me ONE nation that has ever taxed itself into prosperity.
To where? “The Government”?
Also, they’re talking about the tax code in general, using themselves as an example.
Send it where? The IRS doesn’t want it if they don’t owe it. As far as I know, you can’t just donate directly to the government.
“Rule X should be changed, but we’re going to continue to compete on a level playing field if/until a change happens” is not hypocritical at all.
Yes, they absolutely can donate to the Treasury.
They could also take that money and donate it to non-profits lobbying and organizing to raise tax rates. Probably more efficient to do that than just hope other rich people follow their example.
I think the problem is that they believe (and it should be) that ALL rich people should pay more taxes.
Because they want the system to be fair.
If the only “rich” people that pay a reasonable amount of taxes are those with an actual conscience, then those without have (more of) an inherent advantage.
But by making it taxation, those that are scum don’t have any extra advantages.
Just a distraction is all
They could – but it would be pointless. They are asking for a systemic change. An individual doesn’t count, even if they are in the 1%. It has to be systemic.
(Much like me using my reusable bag won’t do shit when everyone else uses the throw away kind.)
Ultra rich people don’t have a pile of money *à la* Scrooge McDuck. Their riches come from companies they own, investments, etc, each one with their own rules about how to pay taxes. They ask for the tax system to be changed (let’s suppose the sentiment is genuine), not to pay more just because.
They say that in public, but in private they are bribing politicians to lower their taxes.
Yes, folks can just send more taxes. But they do not.
The people who advocate for more taxes want YOUR money. They want the power that stripping hard earned income from millions brings to “their side”.
Paying more taxes to fund the elite pedophiles in the government is a bad idea, no matter how rich or poor you are.
Taxes aren’t just about raising money for the federal government. Tax code incentivizes corporate behavior. If the top tax bracket is 95%, like in the 50s, giving yourself a million dollar bonus is a bad business decision. It would serve your interests more to expand your business/secure your business by updating equipment or increasing workers pay. Historically, every time taxes have been cut for the top bracket, the gap between CEO pay and worker pay has widened. It’s a predictable phenomenon that has occurred exactly as predicted. I’m not ultra rich, but I’m doing okay. I’d be happy to pay a little more if it meant disincentivizing corporate buybacks and starvation wages.
The people who hoard their wealth and use it to buy the laws are the biggest danger ever to the American Experiment. Which is way they must be taxed to remove their ability to buy the laws they want and the politicians to enact those unjust laws.
Those that are genuinely saying that not just trying to gain reputation are implying that “I would pay more taxes… (so the not rich people can pay less)”. In order for that to work the laws would need to change so the IRS collects _less_ taxes from poorer people and _more_ taxes from Rich people. Otherwise if the Rich people just sent in more money the IRS would follow the law and send it back.
If I had billions I would never “pay taxes”. Remember who you are paying to: our garbage government run by corrupt inept politicians owned by self serving billionaires.
I would rather start a non-profit with the billions that I have that does good things for society in a way that makes a lasting sustainable change.
They can, but it wouldn’t do anything.
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The point of taxes is to get a **group** of people to pay. If its just a couple people its not going to have any effect.
They are also paying lawyers and accountants to find every loophole.
The IRS will follow the law (how much they owe), so if they send more the IRS isn’t going to just say thanks and hold onto it.
In the USA? Yes. But I think they mean they want their economic class to pay more. Not just them personally.
Taxes are all about scale. No one individual has wealth that’s anywhere near the scale of say, the US budget (of over 6 _trillion_ dollars). Even if the world’s richest person donated their entire net worth, that covers less than 4% of it, _for just a single year_.
On the other hand, there are 22 million millionaires in the US. If you get them to each pay $40K more in taxes, that’s a trillion dollar on an annual basis.
Your error is assuming they’re telling the truth
In the USA they can absolutely pay more voluntarily, you can make a gift donation to the treasury dept. They have a website for it or you can still send checks to their address.