The Ultra-Wealthy Who Argue That They Should Be Paying Higher Taxes

[IroNat]

I've always wondered if these earnest people voluntarily send the government more money than they owe in income taxes.

They certainly could if they desired.  Enough to buy a cruise missile or two.  Perhaps clean up a Superfund site.

My dear, get out your checkbook.  Make it out to "U.S. Treasury".  Lots of zeros after the number.

Ms. Disney could remit a few extra $million a year to Uncle Sam to assuage her guilt, or donate those millions to charities.  Perhaps she does.

I can understand her guilty feelings as a child.  She also mentions how wonderfully comfortable being rich is.  I'll bet she lives in a mansion with servants.

Oh, the guilt!  Pass the caviar, dear.

Article: https://www.newyorker.com/magazine/2020/01/06/the-ultra-wealthy-who-argue-that-they-should-be-paying-higher-taxes

'Abigail Disney remembers the moment, two decades ago, when she no longer wanted to fly on her family’s private plane. Disney is the granddaughter of Roy O. Disney, who founded the Disney company with his younger brother, Walt, in 1923, and her father was a longtime senior executive there. Abigail’s parents owned a Boeing 737, one of the largest private-aircraft models on the market, and they let her use it for family trips. For many years, when Abigail was raising her four children, she would take the plane to Ireland, to visit her mother’s castle. The plane “was like a flying playpen,” Abigail told me recently. “I’ve known the pilot since I was a teen-ager.” One day, when her children were older, she took an overnight flight from California to New York, where she lives. She was travelling alone, but there was a full staff on duty to cater to her needs. As she got into the queen-size bed and secured the safety belt that stretched across the mattress, preparing to sleep for the next few hours, an unpleasant feeling came over her. “I couldn’t help thinking about the carbon footprint of it, and all the fuel,” she said. “It just felt so wrong.”'

[loco]

Born rich and feeling guilty, begging the government “Please raise our taxes.” <--- actual quote.

What about the millionaires and billionaires who were born poor or middle class, but worked hard and smart to get to where they are now?  Why should they pay to appease the guilt of these born rich lefties?

[loco]

From the article above:

She sometimes exaggerates. In an interview with Yahoo News this past July, she said that Disney employees had been so underpaid that they were forced to “forage for food in other people’s garbage,” a claim that she later retracted. At a time when political activists are expected to live according to their values, Disney’s role as an ultra-wealthy spokesperson for the underclass makes her a target of vitriol.

In late September, someone tweeted at her, “Boy do I despise virtue signaling rich liberal hypocrites living off the money earned by their far better ancestors. Bet you live in a luxury apt in NYC! Why don’t you renounce your corporate grandad’s money and give it ALL away! You never will . . . HYPOCRITE!”

[IroNat]

You can't half-ass it.

[Humble Narcissist]

The rich claiming they should pay more taxes are just cozying up to leftists hoping they will be spared when the left have power.  Michael Moore, Warren Buffet and Bill Gates do everything they can to save on taxes every year while claiming they want more.

[Straw Man]

Almost as funny as the dirt poor Trumptards with no healthcare or a pot to piss in who argue that  millionaires and billionaires should pay less taxes

Probably those same Trumptards who wonder why Republicans never approve any infrastruture spending or spending on schools and other social services 

[Soul Crusher]

Almost as funny as the dirt poor Trumptards with no healthcare or a pot to piss in who argue that  millionaires and billionaires should pay less taxes

Probably those same Trumptards who wonder why Republicans never approve any infrastruture spending or spending on schools and other social services 

I live in high tax NYS and all those things you claim are total SHIITE here.   Garbage all around unless wealthy enclaves in westchester or nassau.  Everywhere else is complete liberal socialist crap.   There is a a reason everyone is fleeing NYS at a rate faster than any other state.   

[Primemuscle]

I live in high tax NYS and all those things you claim are total SHIITE here.   Garbage all around unless wealthy enclaves in westchester or nassau.  Everywhere else is complete liberal socialist crap.   There is a a reason everyone is fleeing NYS at a rate faster than any other state.   

The overall tax burden in NYS is the highest in the nation for 2019. Move to Oregon, pass the bar and you'll enjoy much lower taxes plus a lower cost of living. Heck, I'll even show you all the cool gyms to work out at. Maybe you could even get some air time twisting the top off a soft drink at one of the Blazer's home games.

You may be a bit of jerk and a misguided Trump lover. But that's okay. Maybe if you lived in our liberal Portland Metropolitan area of Oregon, you'd see that socialism isn't all that bad. It's all about the money. Right?

[Soul Crusher]

The overall tax burden in NYS is the highest in the nation for 2019. Move to Oregon, pass the bar and you'll enjoy much lower taxes plus a lower cost of living. Heck, I'll even show you all the cool gyms to work out at. Maybe you could even get some air time twisting the top off a soft drink at one of the Blazer's home games.

You may be a bit of jerk and a misguided Trump lover. But that's okay. Maybe if you lived in our liberal Portland Metropolitan area of Oregon, you'd see that socialism isn't all that bad. It's all about the money. Right?

277 People A Day Leave New York
Money Maven ^ | 1-7-2020 | MISH

New Yorkers are fleeing the state in drove due to high taxes. The result is an overabundance of home few can afford.

Bloomberg reports Manhattan’s Flood of New Condos Could Take Six Years to Sell.

“ Manhattan is glutted with even more luxury condos than most apartment-shoppers realize. The borough has 7,050 unsold, newly built units, according to a report by Halstead Development Marketing. The bulk of those -- almost 6,000 -- haven’t been formally listed for sale, creating an under-the-radar “shadow inventory.”

The secret supply is a heavy weight on a market in which sales, especially of higher-end properties, have slowed to a crawl. It would take take 74 months -- more than 6 years -- to clear all of Manhattan’s unsold units at the pace of contracts in 2019, the report shows.

Despite the allegedly booming economy, there is little interest in moving to Manhattan. Rather, people have has enough of taxes.

This is not at all surprising. New York, California, Illinois, and New Jersey are in the same boat. Those are the top four states with domestic out migration.

Tax The Rich, The Rich Leave

The Washington Times reports Wealthy Americans Flee High-Tax States, Take Billions with Them.

“ “Tax the rich. Tax the rich. Tax the rich. The rich leave,” New York Gov. Andrew M. Cuomo, a Democrat, lamented in February as he announced an anticipated revenue plunge in the Empire State. “And now what do you do?”

The $10,000 limit has left governors in high-tax states steaming and has sent Democratic politicians scrambling to try to offer breaks to the same wealthy Americans they usually demand pay their fair share.

“It is having a big impact,” said Chris Edwards, tax policy director at the Cato Institute. “There was migration before, but there has always been disputes about the causes with the data. Now I suspect a lot of people are just getting fed up.”

Exodus Just Beginning

Please consider New York, California High-Tax State Exodus Just Beginning

“ The cap on state and local tax (SALT) deductions has already begun to drive some residents away from high-tax states like New York and New Jersey, but experts say that trend is only going to intensify.

“It took a few months for taxpayers to realize the dollar implications – until they actually filed their tax returns this year,” Alan Goldenberg, a principal at Friedman LLP, told FOX Business. “It quantified the impact of the loss of the SALT deduction when people saw it in front of their eyes on their tax return.”

The Tax Cuts and Jobs Act introduced a number of reforms, including the notorious $10,000 cap on state and local tax deductions, which has caused Americans to look into establishing legal primary residences in states where they can limit their liabilities.

(snip)

[IroNat]

Unfortunately these people move to cheaper states and take their liberal politics with them.

[jude2]

Unfortunately these people move to cheaper states and take their liberal politics with them.

Yep.  They are changing great states like Texas and Fl.

[Humble Narcissist]

Yep.  They are changing great states like Texas and Fl.

And Arizona, Nevada, Idaho and Utah.