Clement Wan

@Kortirionandon @AcousticEffort If you believe the graph to be accurate then it’s not “quite regressive” as you originally claimed. Second you’re right it doesn’t measure wealth, we don’t tax unrealized capital gains, we don’t issue credits based on unrealized losses but none of these are the original claim.

@ClementSWWan @AcousticEffort Not by much. Most of our tax system is regressive (payroll, sales, excise, etc) and the only thing progressive are income taxes. It also ignores how the ultra wealthy pull no income at all which is part of the problem. 1% starts at ~$800k and they're certainly paying enough.

Amazing. This is an "economist" who "spent sixteen years at the International Monetary Fund" and is listed on the faculty of Fordham University's Business School. But he can't read a graph. That *he* posted. What does this say about the IMF, Fordham and whereever he got his economics degree?

@Kortirionandon @AcousticEffort Only if the graph posted is inaccurate. It claims “total taxes”. For highest earners, it shows % total taxes > % income so it’s progressive.

@AcousticEffort @ClementSWWan You kind of missed the "while earning 80% of the income" part of the graph. Are you really surprised to learn that the ones earning all the income pay most of the taxes? It kind of shows that our tax structure is actually rather regressive when you consider all taxes.

Inaccurate. First, you can claim whatever the you want. He originally claims that *federal taxes* make up only a portion of overall. That’s the reasonable interpretation of why he posted a graph showing total taxes that includes federal taxes. The problem is he didn’t understand that it proved Bezos’ argument. As for your second graph Wow. Are you actually arguing that the true tax rate is truly 0.10 percent and that 23.7 million in taxes paid by Buffett isn’t disproportionate to the amounts poorer Americans paid as a percent of total taxes? And you want everyone to be taxed based on unrealized gains? Good luck with that.

@ClementSWWan You’re wrong, sorry.

@Tokayo_TV Literally the opposite. He says that federal income taxes are only a narrow slice of taxes. Then he posts a graph showing % of *total* taxes paid based on income. Which shows the opposite of his claim.

@ClementSWWan It doesn’t show the exact opposite lol, income tax is only a part of their wealth as he mentions in the tweet.

@Tokayo_TV @JosephJos3942 You still haven’t explained why he posted the graph if that’s his argument but at this point it seems you’re both just not good at math. And given that Warren Buffett’s earnings are mostly in taxable dividends, I’m sure he still pays a disproportionate amount in taxes.

@ClementSWWan @JosephJos3942 I’ll try to make this simple as you don’t seem to get the argument, his point is not that high income earners don’t pay high income tax, his point is that income tax is only a part of taxes. Warren Buffett is worth 145b yet his income at Berkshire was 100k a year.

@Tokayo_TV @JosephJos3942 So we’re supposed to assume his claim/argument is true even though it has nothing to do with the evidence he presented? To clarify - do you recognize the graph he is showing shows high income earners pay disproportionately more in taxes than everyone else?

@JosephJos3942 @ClementSWWan Brother please read the original tweet again, crazy how all of you don’t even understand the argument being made.

@Tokayo_TV … so again, why is he posting a graph that shows the exact opposite of what he’s attempting to claim (which shows the highest income earners pay the vast majority of taxes)? please make it make sense.

@ClementSWWan He did mention that income tax was only a narrow part of their wealth and that the graphic is from 2019 and with trump tax cuts they pay even less now. If you want to complain about his use of the graph you should worry more about your lack of reading comprehension.

@AcousticEffort Yes.

@ClementSWWan Doesn't this say the top 20% of earners pay 66.5% of the total tax collected? And the bottom 60% only pay 16.4%?

@Tokayo_TV ... then why didn't he post a graph that would prove his point and not the opposite? please make it make sense.

@ClementSWWan I think it says more about you, the point is that bezos and other rich people avoid taxes because most of their wealth is not taxed as income.

True if you confuse / assume capex for opex.

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@BradDunkley But is concentration of value growth evidence that it is the result of “partnership with government?” rather than say capital intensive industrial change that’s so far been technologically limited (especially if this is the prelude for much wider productivity gains)?

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