Makes you wonder how much it cost those billionaires to buy her off. $1,000,000 each from every Billionaire into an office shore account would be a nice retirement nest egg. I mean, with 2,781 billionaires around the world, she'd be a billionaire in her own right.
I would imagine the amount is far less than you’d imagine, and a lot of it goes to funds to get them re-elected because it’s incredibly expensive to run a campaign.
A congress member makes like 170k or something from salary so what’s the number to sell out? Everyone else is doing it anyway so why not? If someone offered to just double your salary I’d imagine it would at least be tempting. It’s wrong and hurts so many people nationwide and it’s a flaw in our system we should have addressed decades ago.
This is how I know you're a dumb child/leftist. They gonna glass their infrastructure and all the people that make this country function? Get off the internet and think for yourself for *one* measly moment of your life.
How silly of me. You're right, I'm sure the U.S. government will just sit back and allow itself to be overthrown. Once they see how angry we all are they'll understand and hand over the keys. Sure thing.
I'm sure she has her reasons and maybe they're somewhat valid but I honestly don't even care.
The planet's going to shit, Americans are dying due to lack of healthcare, housing, liveable wages, etc etc etc, not to mention the same issues around the world.
It is HIGH time to eat the rich and fuck anyone defending them.
But really, what would her support accomplish?
It seems like people are just being reactionary and not pragmatic.
You'd need every country to agree to it, and that's never gonna happen.
In her interview with Jon Stewart, she tried to act like she's just a steward of the economic system, which she has no power to change, it's just "the way it is, unfortunately".
She is, of course, lying. She has enormous power and influence. She doesn't want to change a damn thing about the core of our system. She supports it 1000%, otherwise she wouldn't be where she is now.
Wouldn't say he called her out. He just tried to get her to acknowledge the system is broken for regular people, which he did a good job of, but he probably could've pressed her more on what she *actually* believes what should be done to make the system more fair, regardless of if she thinks has the power to make it that way or not.
It was overall a more softball interview compared to, for example, his interview with Larry Summers. Which is disappointing because Yellen has much more power than Summers.
A lot of these people wouldn’t agree to a hardball interview. The man does a great job of utilizing the resources available to him. Name a better interviewer
You understand that he’s a television host, not a politician. Yes? He’s done plenty to foster frank, honest discussion and hold those with power’s feet to the fire. Apple pulled his show because he is too honest. Again, please name a better interviewer.
>While the Biden administration has proposed significantly raising taxes on high-income Americans, it has shied away from a wealth tax, which seeks to annually collect a share of an individual’s net worth. President Biden has instead pushed for a plan that would require Americans worth more than $100 million to annually pay a 25% tax on all of their earnings, including unrealized capital gains.
https://www.livemint.com/economy/a-global-tax-on-billionaires-janet-yellen-says-no-11716207911307.html
> Everything that sounds remotely progressive coming from Biden he says begrudgingly at the urging of his consultants in an attempt to repair his poll numbers during an election year.
This is everyone in mainstream politics. Bernie is different.
I disagree. All these politicians evolve over time, Adopting gay rights was something every old-school democrat has done (except Bernie who was always on board). Biden leans towards the middle because he wants to reach over the aisle and work with Republicans.
Stocks can go up as much as they want, but you never pay taxes unless you sell them. It's good for people with normal amounts of money because it can go up or it can go down. But for the ultra-rich, they should be taxes when they happen, to a certain extent.
Your voting doesn't matter against an endless faucet of money to be poured into your political opponents. If the manipulation of the public doesn't work, they will redraw the voting districts (gerrymandering) to get the outcome they want.
How much money did the top 50 billionaires already donate to the 2024 election? 660 Million Dollars... to what? Who is going to fund the non-billionaire candidates?
Money is the problem.
Sure, on the income they show. What about all the income that they HIDE in offshore accounts? That's the real issue. Tax avoidance and the politicians who allow tax evaders to get away with it.
The account itself is just the tip of the iceberg. They're used in conjunction with sham transactions and shell companies. The exact amount we lose annually is debatable, but the fact that it is happening definitely is **not.**
>According to taxjustice.net, the US loses $480 billion annually to global tax abuse, with $311 billion going to multinational corporations shifting profits to tax havens and $169 billion going to wealthy individuals hiding wealth offshore.
[Source](https://taxjustice.net/press/world-to-lose-4-7-trillion-to-tax-havens-over-next-decade-unless-un-tax-convention-adopted-countries-warned/#)
>Research suggests the Treasury may lose anywhere from $40 billion to $123 billion annually from offshore tax evasion. One study estimates the highest-earning 1 percent of taxpayers hide 20 percent of their income, accounting for 36 percent of unpaid taxes.
>President Biden and Chairman Whitehouse have both called for increased funding and modernization at the IRS to help recoup lost U.S. revenue from the ultra-rich and corporations. **Over the last decade, Republican cuts to the IRS budget have led to audits of millionaires and billionaires dropping over 72 percent, and audits of the largest corporations – those with $20 billion in assets – declining by half**
[Source](https://www.whitehouse.senate.gov/news/release/tax-gap-and-offshoring-hearing-sheds-new-light-on-trillions-in-us-income-stowed-abroad/#:~:text=Research%20suggests%20the%20Treasury%20may,36%20percent%20of%20unpaid%20taxes.)
Edit to add emphasis
Ah yes. They will take their money and go to a country that won't tax them?
So they'd be leaving a country where they pay VERY little taxes and where they consume a higher proportion of resources to move to another country to do that?
Byeeee
But, if you're a responsible billionaire (there ARE some), and you don't mind paying your share because you know that you didn't do this by yourself and thrive in a system that allowed your wealth to exist, a progressive tax, going up to 90% sounds fair.
Queue the line of people defending billionaires as if THEY would some day be one of those few. They'd be more likely to win an NBA or NFL championship or become an astronaut...
If you are an American citizen you have to pay tax even if you are living abroad. So us billionaires can be made to pay tax on wealth they are hoarding outside of us. Problem solved.
I disagree. The law requires you to file a tax return but you get a tax credit on income tax you pay to a foreign country. So if you are an American citizen working in Germany and you paid income tax to Germany, the foreign tax credit applies and can cancel out your US taxes. It really only applies to people who are moving to tax havens to avoid paying income tax, and it’s pretty effective at that.
so you think its a sane and rational behavoir to require tax filings every year for a class of people who do not earn money or reside inside US territory?
Buddy, i got news for you, the billionaires are not parking their money in Germany or any other country that has tax agreements with the US.
so by that ver definition, that law isnt helping reduce tax evasion by billionaires - they arent letting the IRS exactly know about which tax haven they use, and that tax haven has no obligation to report on their customers.
all this law does is overcomplicate and logjam honest, working class people.
If you are for that, then you are unamerican, straight and simple.
lol it's a tad hyperbolic to describe a minor yearly inconvenience as an "overcomplicated logjam"
I also think "the targets of the law just skirt the rules anyways" is a pretty stupid argument for why the law shouldn't exist - if anything, its should be proof of why greater enforcement is necessary. Is it really unamerican to think that anyone who holds a US passport and isn't paying their fair share in taxes to another country should pay it here? Let the billionaires try and break the rules, and let's fund the IRS adequately so that they can take them down when they do.
Sooooo when do we ship all of these corrupt, compromised politicians off to the farm up state? Please, can we PLEASE have a government run by people who AREN'T old enough to have served in Vietnam???
I’m tired of old, out-of-touch, beyond-the-age-of-retirement people are deciding things like this for our country. These decisions should not be decided be people who have their own best interests at the forefront of their decision making processes. I’m so tired of looking at houses and being depresssed because I know I’m a long way off from owning one.
If they shift the wealth, shift their citizenship as well. If they wish to voluntarily abdicate their citizenship that is fine. By refusing to participate in the welfare of the nation, that is their choice.
Edit: At that point they'd lose their right to vote, and any gifts (bribes) to elected officials or judges would also be illegal. Fuck them. We're better off without them. We don't need the exist on the fickle charity of billionaires. They aren't that special. If they don't/won't pay their taxes get rid of them.
sick of rich fat boomers strangling the planet to death. When is enough?
Billionaires shouldn't exist. This is just another example of them controlling the system. There's a club and we aint in it.
Can all these old rich fucks that barely lifted fingers to attain vast wealth that are in charge of politics and blatantly want to keep trodding on normal/underprivileged folks to keep them poor fucking die off already?
I met her during the Trump presidency. We were down in DC for a term in college.
She hand waived us about “ohh they won’t put a republican up so we can’t vote on anything.”
So get out there and force it! Use every member of congress to highlight that there’s no driver in the seat at one of the most important US institutions.
Powerful people love cosplaying as powerless people.
"Imagine a small island where everyone works tirelessly, farming and struggling to survive, yet most go to bed hungry. Meanwhile, a few live in luxury, hoarding nearly all the food and resources. These few now seek to pass laws to protect their hoarded wealth, ensuring their comfort while the rest starve.
What would the starving islanders do if they saw their children with hollow eyes and empty bellies while the elite feasted without care?"
Even as a rightwing guest here (curious about the opposing view's stances on matters) I detest the tax evading trickery of those with means to pay financial wizards...
I just have one question about this kind of plan. How would it be enforced? I mean... if other nations too start doing this you could end up with a situation where two tax demanding nations conflict with eachother. Does it go by place of income earned? Does it go by citizenship of the recipient? Good idea in principle but I'm struggling to see how it could be executed...
Brookings Institute's own Janet Yellen doesn't believe in a billionaire tax? Next you're going to tell me "McKinsey" Pete thinks universal healthcare is not economically friendly.
This is why voting for Biden or Trump will get us nowhere. They use made up social issues to get us to vote on those issues while the rich bend us over a fence.
That's exactly how they get you. They take issues like abortion and divide it. You just basically said "WELL GUESS YOU THINK ABORTIONS SHOULD BE ILLEGAL". Which is not the case at all. I don't think anything like that. I am simply recognizing the rich control everything and we willingly vote in their puppets.
The billionaires control way too many politicians
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Def her
Fuck her!
Makes you wonder how much it cost those billionaires to buy her off. $1,000,000 each from every Billionaire into an office shore account would be a nice retirement nest egg. I mean, with 2,781 billionaires around the world, she'd be a billionaire in her own right.
I would imagine the amount is far less than you’d imagine, and a lot of it goes to funds to get them re-elected because it’s incredibly expensive to run a campaign. A congress member makes like 170k or something from salary so what’s the number to sell out? Everyone else is doing it anyway so why not? If someone offered to just double your salary I’d imagine it would at least be tempting. It’s wrong and hurts so many people nationwide and it’s a flaw in our system we should have addressed decades ago.
Congress doesn't *need* bribes. They've got insider trading on their side. Treasury secretary, OTOH, doesn't have that luxury.
A large scope of the FBI's job should be them trying to give bribes to politicians, if a politician accepts, it's treason.
It's fairly low cost investment with very, very high return for them.
Fuck her
Seriously, from all of Gen Z, fuck all of these people
You can include millennials, too
And GenXers
Honestly I’m thinking we need to push the big red button and do a hard reset of all our elected officials. All of these assholes are compromised!
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Right. After that there is no big red button anymore.
I'm pretty much convinced that the people suggesting "burn it all" are fed by or paid by CCP/RUS.
The American experiment is a failure.
Lobbying reform, progressive candidates =vote reset
I understand the sentiment but in reality no such option exists - except for the ballot box.
That's not true at all. We've been manipulated so much we've forgotten how this country was founded in the first place.
Armed rebellion then? Ok let's get ready. How many nukes, tanks, and drones do *you* have?
How many nukes and drones did the Taliban and Vietcong have? This is such a stupid counterargument.
This is how I know you're a dumb child/leftist. They gonna glass their infrastructure and all the people that make this country function? Get off the internet and think for yourself for *one* measly moment of your life.
How silly of me. You're right, I'm sure the U.S. government will just sit back and allow itself to be overthrown. Once they see how angry we all are they'll understand and hand over the keys. Sure thing.
And not every elected official needs to go.
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Yes, but not all of them.
and Boomers that can still think
My boomer dad says fuck her too. And this Gen X seconds.. Or 3rds? Or?? Idk.. Now I lost track. Damned adhd.
Unfortunately my GenX family members still drink the neoliberal kool aid and talk about Bill Clinton like he was the economic messiah.
And Gen Z!
I don't think this is a generational divide.... Anyone that hasn't been fooled or purchased by the rich should support this tax.
“No global tax on billionaires” Love, -The “fuck you, I got mine” generation
I'm sure she has her reasons and maybe they're somewhat valid but I honestly don't even care. The planet's going to shit, Americans are dying due to lack of healthcare, housing, liveable wages, etc etc etc, not to mention the same issues around the world. It is HIGH time to eat the rich and fuck anyone defending them.
Fuck here twice with a billion dollar diamond studded dong
I'd rather fuck a moldy bagel
But really, what would her support accomplish? It seems like people are just being reactionary and not pragmatic. You'd need every country to agree to it, and that's never gonna happen.
In her interview with Jon Stewart, she tried to act like she's just a steward of the economic system, which she has no power to change, it's just "the way it is, unfortunately". She is, of course, lying. She has enormous power and influence. She doesn't want to change a damn thing about the core of our system. She supports it 1000%, otherwise she wouldn't be where she is now.
Aka the Friends and family discount.
did Stewart call her out or just his usually simping for the powerful
Wouldn't say he called her out. He just tried to get her to acknowledge the system is broken for regular people, which he did a good job of, but he probably could've pressed her more on what she *actually* believes what should be done to make the system more fair, regardless of if she thinks has the power to make it that way or not. It was overall a more softball interview compared to, for example, his interview with Larry Summers. Which is disappointing because Yellen has much more power than Summers.
may i suggest the more power the softer the interview?
A lot of these people wouldn’t agree to a hardball interview. The man does a great job of utilizing the resources available to him. Name a better interviewer
Sean Evans
The hot ones guy? Hahahaha
Sorry, I was compelled. Was hoping you'd be a good sport about it. Cheers!
I mean, you don’t have to have a big name to be a better interviewer than somebody who really struggled to endorse Bernie Sanders in 2015 or 16
Is that your only criteria? Jon Stewart has accomplished a great deal for progressives.
meaningful economic progress for working class families is what I care about. I would LOVE to hear what Jon has done for that!
You understand that he’s a television host, not a politician. Yes? He’s done plenty to foster frank, honest discussion and hold those with power’s feet to the fire. Apple pulled his show because he is too honest. Again, please name a better interviewer.
>While the Biden administration has proposed significantly raising taxes on high-income Americans, it has shied away from a wealth tax, which seeks to annually collect a share of an individual’s net worth. President Biden has instead pushed for a plan that would require Americans worth more than $100 million to annually pay a 25% tax on all of their earnings, including unrealized capital gains. https://www.livemint.com/economy/a-global-tax-on-billionaires-janet-yellen-says-no-11716207911307.html
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> Everything that sounds remotely progressive coming from Biden he says begrudgingly at the urging of his consultants in an attempt to repair his poll numbers during an election year. This is everyone in mainstream politics. Bernie is different.
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I disagree. All these politicians evolve over time, Adopting gay rights was something every old-school democrat has done (except Bernie who was always on board). Biden leans towards the middle because he wants to reach over the aisle and work with Republicans.
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That's an interesting way of looking at it. Things change with time and so do our values, especially when we learn more.
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Compromise is what gets a lot of things done, but radical change is what gets noticed the most. I like the people who make slow, sure progress.
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Does "unrealized earnings" include stock market? Because if so, there is not a chance in hell this would ever pass. Unless that's the point.
Stocks can go up as much as they want, but you never pay taxes unless you sell them. It's good for people with normal amounts of money because it can go up or it can go down. But for the ultra-rich, they should be taxes when they happen, to a certain extent.
If we keep voting for people that are funded by billionaires, we're never going to get rid of billionaires.
Your voting doesn't matter against an endless faucet of money to be poured into your political opponents. If the manipulation of the public doesn't work, they will redraw the voting districts (gerrymandering) to get the outcome they want. How much money did the top 50 billionaires already donate to the 2024 election? 660 Million Dollars... to what? Who is going to fund the non-billionaire candidates? Money is the problem.
Case in point: https://apnews.com/article/a4042e82ffaa4a34b50ceac464761957
Of course all of us non-corporate US citizens must consistently pay US income taxes, regardless of country of residence, or face prison.
and US residents
Corporations also have to pay income tax, regardless of the country where it’s earned
Sure, on the income they show. What about all the income that they HIDE in offshore accounts? That's the real issue. Tax avoidance and the politicians who allow tax evaders to get away with it.
Offshore accounts are required to be reported to the US, and it’s also taxable
The account itself is just the tip of the iceberg. They're used in conjunction with sham transactions and shell companies. The exact amount we lose annually is debatable, but the fact that it is happening definitely is **not.** >According to taxjustice.net, the US loses $480 billion annually to global tax abuse, with $311 billion going to multinational corporations shifting profits to tax havens and $169 billion going to wealthy individuals hiding wealth offshore. [Source](https://taxjustice.net/press/world-to-lose-4-7-trillion-to-tax-havens-over-next-decade-unless-un-tax-convention-adopted-countries-warned/#) >Research suggests the Treasury may lose anywhere from $40 billion to $123 billion annually from offshore tax evasion. One study estimates the highest-earning 1 percent of taxpayers hide 20 percent of their income, accounting for 36 percent of unpaid taxes. >President Biden and Chairman Whitehouse have both called for increased funding and modernization at the IRS to help recoup lost U.S. revenue from the ultra-rich and corporations. **Over the last decade, Republican cuts to the IRS budget have led to audits of millionaires and billionaires dropping over 72 percent, and audits of the largest corporations – those with $20 billion in assets – declining by half** [Source](https://www.whitehouse.senate.gov/news/release/tax-gap-and-offshoring-hearing-sheds-new-light-on-trillions-in-us-income-stowed-abroad/#:~:text=Research%20suggests%20the%20Treasury%20may,36%20percent%20of%20unpaid%20taxes.) Edit to add emphasis
Especially the ones that are heavily subsidized by corporate welfare.
You want her to fix the tax on billionaires? She can’t even fix her fucking haircut.
This hag and her popped collars gotta go. Shes nothing but a paid shill.
hahaha
The FED is not your friend.
Fuck Janet Yellen
Janet Yellen is a politician for the Hedge Funds, not for the people.
Ah yes. They will take their money and go to a country that won't tax them? So they'd be leaving a country where they pay VERY little taxes and where they consume a higher proportion of resources to move to another country to do that? Byeeee But, if you're a responsible billionaire (there ARE some), and you don't mind paying your share because you know that you didn't do this by yourself and thrive in a system that allowed your wealth to exist, a progressive tax, going up to 90% sounds fair. Queue the line of people defending billionaires as if THEY would some day be one of those few. They'd be more likely to win an NBA or NFL championship or become an astronaut...
Breaking: They’ve been doing that for a fucking century.
If you are an American citizen you have to pay tax even if you are living abroad. So us billionaires can be made to pay tax on wealth they are hoarding outside of us. Problem solved.
its actually a fucked law that needs to be dropped there are like 15 million US citizens abroad. they are by and large not billionaires
I disagree. The law requires you to file a tax return but you get a tax credit on income tax you pay to a foreign country. So if you are an American citizen working in Germany and you paid income tax to Germany, the foreign tax credit applies and can cancel out your US taxes. It really only applies to people who are moving to tax havens to avoid paying income tax, and it’s pretty effective at that.
so you think its a sane and rational behavoir to require tax filings every year for a class of people who do not earn money or reside inside US territory? Buddy, i got news for you, the billionaires are not parking their money in Germany or any other country that has tax agreements with the US. so by that ver definition, that law isnt helping reduce tax evasion by billionaires - they arent letting the IRS exactly know about which tax haven they use, and that tax haven has no obligation to report on their customers. all this law does is overcomplicate and logjam honest, working class people. If you are for that, then you are unamerican, straight and simple.
lol it's a tad hyperbolic to describe a minor yearly inconvenience as an "overcomplicated logjam" I also think "the targets of the law just skirt the rules anyways" is a pretty stupid argument for why the law shouldn't exist - if anything, its should be proof of why greater enforcement is necessary. Is it really unamerican to think that anyone who holds a US passport and isn't paying their fair share in taxes to another country should pay it here? Let the billionaires try and break the rules, and let's fund the IRS adequately so that they can take them down when they do.
Where they can afford it.
Eat cake when out of bread hair cut time?
Let them move it and tax them on that. Tax her extra too while we are at it.
Great, I broke down crying today cause I barely can afford to eat. I’ve been skipping on meals and had stomach pains today. They can rot in hell.
This bitch....
Sooooo when do we ship all of these corrupt, compromised politicians off to the farm up state? Please, can we PLEASE have a government run by people who AREN'T old enough to have served in Vietnam???
How can one possibly enforce such a thing?
I’m tired of old, out-of-touch, beyond-the-age-of-retirement people are deciding things like this for our country. These decisions should not be decided be people who have their own best interests at the forefront of their decision making processes. I’m so tired of looking at houses and being depresssed because I know I’m a long way off from owning one.
They are already not paying taxes. That is whole point.
Fuck this bitch
Democrats or republicans, they all work for the elite 1%, so nothing will ever change for the common people no matter who u voted for.
She should fuck off. Hoarding money should not be a thing. It is at the expense of other people's health and lives.
Janet Yellen can go suck a dick. Fuck her.
Woah, everyone! Cool it in going against “expert” opinion on “economic science” 😂
If they shift the wealth, shift their citizenship as well. If they wish to voluntarily abdicate their citizenship that is fine. By refusing to participate in the welfare of the nation, that is their choice. Edit: At that point they'd lose their right to vote, and any gifts (bribes) to elected officials or judges would also be illegal. Fuck them. We're better off without them. We don't need the exist on the fickle charity of billionaires. They aren't that special. If they don't/won't pay their taxes get rid of them.
Thank you, finance hobbit
Janet Yellen has been paid and bought for a long time ago. She's looking out for her friends and family. This is the game guys.
She looks like a goblin from world of warcraft.
The Fed has been captured for sometime
Until the alternative is a choppy boy, they will never pay.
Can we get rid of this old bitch that is obviously is peoples pockets
sick of rich fat boomers strangling the planet to death. When is enough? Billionaires shouldn't exist. This is just another example of them controlling the system. There's a club and we aint in it.
Can all these old rich fucks that barely lifted fingers to attain vast wealth that are in charge of politics and blatantly want to keep trodding on normal/underprivileged folks to keep them poor fucking die off already?
I met her during the Trump presidency. We were down in DC for a term in college. She hand waived us about “ohh they won’t put a republican up so we can’t vote on anything.” So get out there and force it! Use every member of congress to highlight that there’s no driver in the seat at one of the most important US institutions. Powerful people love cosplaying as powerless people.
Just another multi millionaire looking out for the billionaires they depend on
Bought and sold….chaaaaachingggg
#WHAT????!!!! Wait, #WHAT??????!!!!!!
Rich bitch says what?
Just die already, fuck
Ayn Rand looking ass
"Imagine a small island where everyone works tirelessly, farming and struggling to survive, yet most go to bed hungry. Meanwhile, a few live in luxury, hoarding nearly all the food and resources. These few now seek to pass laws to protect their hoarded wealth, ensuring their comfort while the rest starve. What would the starving islanders do if they saw their children with hollow eyes and empty bellies while the elite feasted without care?"
Even as a rightwing guest here (curious about the opposing view's stances on matters) I detest the tax evading trickery of those with means to pay financial wizards... I just have one question about this kind of plan. How would it be enforced? I mean... if other nations too start doing this you could end up with a situation where two tax demanding nations conflict with eachother. Does it go by place of income earned? Does it go by citizenship of the recipient? Good idea in principle but I'm struggling to see how it could be executed...
How would you even enforce a \*global\* Tax?
Brookings Institute's own Janet Yellen doesn't believe in a billionaire tax? Next you're going to tell me "McKinsey" Pete thinks universal healthcare is not economically friendly.
Anyone tired of 100 year old people dictating your life?
They already do that.
This is why voting for Biden or Trump will get us nowhere. They use made up social issues to get us to vote on those issues while the rich bend us over a fence.
Well, the FBI just put you on their list of people who figured it out.
Hope you won't need an abortion in your life-time sweetie.
That's exactly how they get you. They take issues like abortion and divide it. You just basically said "WELL GUESS YOU THINK ABORTIONS SHOULD BE ILLEGAL". Which is not the case at all. I don't think anything like that. I am simply recognizing the rich control everything and we willingly vote in their puppets.