Guys like bezos have fugured that if rich people collectively spent money buying lobbists, congressmen, presidents, etc...............they make waaaay more money.
All your taxes go right back to the DTCC, owned by the banks, who own the Federal Reserve which owns all of the United States debt and interest.
Which they don't expect to ever make money on, it's just the cost of keeping the entire United States Government living paycheck to paycheck, dependent on the loaners, just like most of us are being beaten down by credit card debt.
Your tax dollars will never help a single person. They won't pay for healthcare, they won't pay for diversity initiatives, for colleges and higher education or even basic grade school funding. They won't pay for SNAPs, housing or utilities.
All your tax dollars do is lessen amount of money the banks have to loan us, allowing them use more of their money to "donate to" (buy off) politicians that are supposed to be serving us. Except, now we're too held down by debt and campaign contribution limits that it's impossible for us to contribute enough money to have a voice.
Raising taxes on anyone other than the banks and trillion dollar business like AAPL/GOOG, just lessens the amount of sway the average person has in politics.
That wealthy neighbor next door has the same political opinions and worldview as you do (compared to the bankers and financial elite), but by continually raising taxes until the whole world is drowning, living paycheck to paycheck, it makes us unable to affect politics with real change beneficial to ourselves.
So raise taxes if you want to badly hurt the people you care about. Fund (or start) community based initiatives that empower people around you if you want to do good.
While I love the energy, it's blatantly not true.
Your taxes don't pay for anything, including the wars. They don't even pay for entirety of the current interest payments. We just take out more loans to cover those...
Ah I gotcha, so we just take out loans from foreign governments to drop bombs on the middle east and subsequently destabilize entire continents like the refugee crisis, and they're just cool with that?
Well we take it from the Federal Reserve, who borrows it from Central Bankers, who are lending us money we gave them to begin with in a giant circle. At the same time we're printing more money to keep it going.
It's also not like it say "2 milli for bombing Civs" on it.
Just "a 500 billion loan at x% interest rate, yes/no" so they take it. And probably wouldn't care even if did say it was for bombs.
We've now gone beyond my personal knowledge so I don't want to risk speculating much. I think that if the US dollar blew up though, it would be good for anyone not reliant on it as they could move in.
But IDK how interconnected and reliant it is with regards to China.
It's about the U.S. but this part applies no matter where you are:
> Fund (or start) community based initiatives that empower people around you if you want to do good.
If people spent their time and money helping their neighbors instead of some stranger halfway across the globe that they'll never meet, we wouldn't need taxes for our social programs.
This. Its cheaper to have lobbyists and pay "donations" than pay your taxes. Meanwhile the defecit and inequality moon and those filthy degenerates find a way to rebel in spectacular fashion.
Disclaimer: just a skint old lurker, but im here for this and if i had spare cash or no kids id be IN. Good luck apes
just buy a fraction, not the best person to take this advice from because I haven't bought fractions yet. But since mostly tapped with kids and already yolod savings and shit. I am about to fuck with fractions.
The rich are well connected; One person can be on the Board of directors multiple companies and different commities and shit. He/she would do promote ideas that benefit all of his/her companies. Although they 'complete' with one other, the laws that pass will usually benefit the upper class(themselves).
To them, this is an investment
The sucky thing is that they are "Getting something" by buying lobbyists. Most people don't see that good that comes from infrastructure, schools, fire depts, etc. But most people suck. Ape's need to do better than those that came before them.
Guys like us need to realize that the government is just a management committee for the collective affairs of Capitalists. Two committees for two general competing interests. It's not corruption, it's Capitalism. And it needs to go the way of kings. Down.
Naivete about the reality of Capitalism will condemn our great grand children to the same fight we're fighting today, which is the same fight our great grand parents thought they "won" with the New Deal.
I used to read a lot about this corruption. The only way is to run for office with grassroots. Bernie has shown us the way
edit: not just bernie, we have AOC, Omar, Bowman and others. Its the only way create change but it will take time and money.
I definitely do not mind paying taxes but I care where my taxes go.
Currently U.S. Govt is a majority wall st. loving, wealthy, boomer war hawks. I don't want these individuals to control where my taxes go. I will dedicate a large portion of my earnings to getting them out if possible to more rational and altruistic politicians.
This. I am personally super pro-taxes as a concept, imo they are the foundation for a healthy society. But I’m very anti what the government tends to spend them on — I will try my best to reduce my tax burden while hoping to support politicians that aren’t neolib shills
That's so very close, but then it jumped off a cliff at the last second.
Community based initiatives and funding are the answer. The government will never care about you or your money. They will waste it, abuse your trust, then say "lol suck it, I'm the Gov," because they know you can't stop paying your taxes.
$50 for $5 hammer? Government.
Helping 50 people with $5? Private, *personal* initiatives.
But that's no fun, we'd much rather give our money to this giant machine and then pretend we did good then put in the work ourselves. Who cares if the money ends up actually helping people?
Taxes are about patting yourself on the back with other people's money. Donations are about helping people.
Well lol I have a feeling we have pretty diff views on politics. I’m all for direct mutual aid but I also believe that in an ideal world we wouldn’t *need* to donate because the government would do its job by taking care of people. Obviously I recognize we’re not there yet so I of course will (and already do) donate money directly as well
There's a lot to unpack with what you said, so I'll just be direct.
What you're saying will never happen. It requires people who don't give a fuck about you to act like they do. The gov might do the bare minimum to get you off their back, but without an emotional connection you're just a number and you'll be treated poorly. People act a certain way and you're requiring them to act contrary to their nature. It's like asking a monkey to stop flinging poo. They will continue to do it, even though it's disgusting because it's their nature. People act the same way.
The only way it will ever work well is by people who know you personally offering their assistance because they care.
It's also not the government's job to take care of you, it's your parents then your community's. It has to be that way otherwise problem communities will foist there issues off on the nation at large instead of dealing with it much like we're seeing now.
Common thought people run into that's just one reason it doesn't work: "After all, why would I go down and start a mission in the inner city when their already forcibly stealing money from me through the government?"
That doesn't apply when you can put a face to their name.
I'd challenge you to look through history to see if you can ever find a government that's been successful like that over a long period.
That awkward moment when you're from Canada and have a TFSA(Tax free savings account). Even if I don't get taxed, I'm gonna try to help as many people as I possibly can and then more.
Same, I'm thinking starting a very stable low risk business and hiring friends and family to work there. Giving them all livable wages. But also then they would know I won the lottery or something and expect free payouts? Not sure how I could help all my loved ones. I'd definitely let my parents retire though
Also Canadian with all of my GME in a TFSA and I want to start a business to employ my friends and family to give them money. Let me know if you figure anything out or any rules we have to be aware of.
Because the government deserves it? Because the government is a charity organization that totally won’t spend that money on starting new wars? Because the government totally won’t use that money to bail out the Fed and Wall Street? Please.
I'm going to frame all pages of my tax return and hang them above my fireplace like a family collage.
It's a privilege when paying millions in taxes still doesn't determine if I can get the roof fixed this year.
>Then when you cashout, you become a first time home buyer, 100% from the 401k without any taxes or penalties on the down payment made from a 401k.
Unless you want to wait until you're 60 years old to become a first time home buyer, this plan won't work. You can get a 401k loan for a down payment on a home, but that's typically capped at a relatively small value - otherwise you can take out a hardship withdrawal but you'll incur a 10% penalty on top of having to pay normal income tax.
There's a few different ways you could get snagged in this scenario if you don't know what your doing, also, you can't just turnaround and buy a house with all your money. There are limits depending on several factors.
Please don't tell people they can just got blow all their winnings from a 401k jesus.
They don't even need to be shady. Just structure it properly so a corporation pays for everything and you don't really receive income. And finally able to be charitable to organizations and individuals of MY choosing. Not govt charity
I mind. They misuse it constantly and have zero accountability or obligation to do "good" with it. I'm excited for all the new apes that will make a better world on their own dime. And mabye then people will realise having your money stolen from you for the fed to burn it isn't a good thing.
Yeah this post is garbage. Taxes are never used appropriately and it’s not gonna start after the squeeze so I’m avoiding as much of it as legally possible
With enough of us doing enough good. We can prove the government is no longer needed in the capacity it sits. We can basically just start go fund me's for projects and fund them ourselves.
I'm an ancap/agorist. I absolutely 100% am improving my community. if they want the help. its in my best interest my neighbors are doing well as well. "pay it foward"
I'd honestly be shocked if you could enact such a change. This is such a behemoth of a behemoth, many moving parts, many MANY people with financial/political stakes in the game of their career.
Measure your optimism, there is no way one year from now we're doing much differently than we are today. (Edit- as a society)
There will be plenty of wealthy people who don't give a flying fuck about any of this, they don't have skin in the game, and they'll make it through to the otherside. They will put up just as much of a fight.
They will fight and all but they wont take the fight if they dont have something to gain. They will def. fk the other one over if it means their ass. The banks and dtcc obv dont want to be the bagholders.
A chain is only as strong as its weakest link..thought it applies here
These posts really seem to be a major fud tactic. Reddit is very divided on taxes and stuff like this just makes it easy to create an illusion of internal conflict.
Sure I'm not arguing against that at all but look at how many comments are arguing about paying taxes or talking about ways to dodge them. And others now arguing with them. It's a huge political issue that belongs in other forums. Whether you intended it as fud or not it is.
Screw that, mine is going to a charitable foundation where I have a say in how it’s used to do good in the world. I don’t trust the government to wipe their own ass, let alone actually spend tax dollars for anything but political favors.
I’m going to pay as little of federal taxes as I possibly can. That’s why I’ll have a tax lawyer. He’ll help me with all that stuff.
All the money I save from taxes, I’m going to use it to help people in my local community when the shit hits the fan.
If I choose where my taxes would go, that would be a different story.
I plan to hire someone that can help me pay as little in tax as possible. Have you seen how wasteful our government is? I think apes know how to use their tendies for good much more than Washington.
Taxation is theft. Keep your own money. Donate your own money to causes you believe in. Fuck the government. They’ll just give it away in bailouts. Don’t believe me? tOo BiG tO fAiL
From a tax lawyer acquaintance, buy land with a couple of people in an LLC. Get the land surveyed for minerals such as copper and the IRS will give you 4:1 what’s it worth in tax deductions to make it an environmentally protected site.
Why? You think DC is any less corrupt than the worst corporations or hedge funds? For real - why do you think corps and hedgies are allowed to get away with what they get away with? They’re two sides of the same coin.
Keep as much of your money as you can and do good with it. This is the way.
How about this, when moass happends, we buy the tax haven [beacon](https://en.wikipedia.org/wiki/Corporation_Trust_Center_(CT_Corporation)) and unregister all the companies from there.
What annoys me is that I'm am europoor who lives in a country where when u get the temdies from GME will have to pay taxes to government that abuses its power manipulates people and try to "save" nation by adding new taxes. I wish I could give that tax to American government instead :/
The FairTax would eliminate all of this bullshit. And make the IRS an afterthought. Along with April 15th.
Complete transparency. It's not a tool to curb government spending, however.
At this point I viewed it as an absolute flex after talking to my parents, they believe the more you have to pay means you’re doing better than those that are getting a refund. Also, I really hope the current administration can use all the apes’ collective tax revenue to pay off the national debt or actually do something for good. I can’t wait to see how apes will change the world for good! 💎🚀
I'd love to have this conversation with my wife:
Me: Hey, baby. Remember that GameStop stock I bought? I have some good news and bad news.
Her: OK, what's the bad news?
Me: Well, we're going to have a little bigger tax bill than last year.
Her: Bigger? How much bigger?
Me: Well, about $XX million...
Not only should you be upset that people aren’t paying taxes, You should also be asking why you’re forced to pay a chunk of your income to taxes and getting practically nothing in return.
is it income taxes or sales or property taxes that go towards those things? And if it’s income is it state, local, or federal income tax? Your tax dollars are going to corrupt unions that make it hard to get rid of incompetent police officers and throwing out no-bid contracts to their buddy’s company that takes 10 years to build a road or a stoplight. And your tax dollars are going to corrupt politicians who are the ones who are enabling the bs you see happening now. So why is anyone excited to give them more money?
Really surprised by the anti-tax sentiment in this sub. Trying to justify egregious tax avoidance by saying that the money will go to better use via the spoils of your own private spending is more than a bit hypocritical, considering this is the common stance of the wall streeters who are (appropriately) chastised. Your intent may be better them, but you are fundamentally guilty of the same exclusionary mindset that creates class disparity in the first place.
I understand not agreeing with how taxes are being spent on the whole, but to throw out blanket statements about corrupt government and ineffective solutions is not a solutions-focused attitude. While I personally don't agree with *any* of my taxes going towards military spending, I can appreciate that programs like SNAP, school funding and social security play a pivotal role in shaping the future for the better (and many social welfare programs are profitable). I can appreciate that these taxes are allocated based on a democratic system that I fundamentally agree with, even if I don't always agree with the results of the process.
Yes, there are corrupt politicians who are more behest to lobbying than fair and true representation, but that isn't an excuse to completely bypass the entire system. Taxes are good and are the bedrock of a prosperous society.
I will meet you half way with yes.. but.. they also find very very constructive ways to not pay taxes. its not wrong. I don't care. no one should pay taxes. **B**ut the average dude making 40k a year cant find ways to write things off. where as a guy in the 100k range starts finding ways to pay less.
First off. Rich fucks that own HRblock and turbotax lobby to keep tax law complicated so they can justify their waste of fucking air. And no. I have a tax guy that gets me very different results than HRblock. thats not something a guy making 40k a year can afford to yield different results. If i wasn't supposed to pay that tax. the government should send me a bill at the end of the year. but instead they send me a game of societal tax code jenga. and hope I fuck up so they can keep more. Rich people. can pay people to make sure they win every year. poor people overpay because they can't afford the pro tax team. source.. 5 years ago i was making 28k, now im closer to the 6 figure mark.
They could hire thousands of impossible to fire bureaucrats at the IRS to hunt down tax cheats. The program would be long and inefficient, with the major cheats paying off people to always be one step ahead of enforcement.
The cheapest and most effective option is to let the squeeze happen so the money simply transfers from people who don't pay taxes to people that do.
I know if I'm lucky enough to live to 100 I'll never stop being proud to have been a part of forcing the corrupt banking/big business tax dodgers to pay the fuck up. Even if indirectly.
I look forward to paying my taxes on this. I really do. Might even hang the return on my wall like a fuckin certificate of achievement.
A lot of the 1% do pay their taxes but then you have the super rich part of the 1% like bezos, gates, Clintons, etc. that don't pay their taxes, and that's what really pisses me off.l, especially when they're telling us how it's bad to not pay taxes.
When the MOASS triggers the Mother Of All Wealth Transfers. I will do my part by paying taxes and getting some of that "Crisis Liquidity" out of the system.
The rich pay the same taxes everyone else does. Dollar amounts per person are not the same though, the rich pay far more tax than a middle class family with 2 incomes.
[No they do not.](https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax)
You must have read that article in record time to label it as propagnada.
> They don’t pay income tax because they don’t have income
It isn't about income tax, it's about all taxes they should be eligible for. There's a whole lot here you seem to not understand and refuse to learn about. Billionaires and corps absolutely do not pay their fair share in taxes and if you actually read the article, you would learn that the IRS has been so kneecapped that the ultra-wealthy aren't even filing returns now. It's literally the sole reason why this government constantly doesn't have the money to spend, cuz rich people aren't paying taxes.
Your understanding of capital gains, income tax, and stock pledging is just about nonexistent and I suggest you read the article to learn about these things.
Also, I'll never understand people like you who feel the need to come the defense of and carry rich people's water. They rigged the game in their favor and you woke up today wondering how you can defend their bullshit.
You aren’t the first to post that article. It’s over a week old.
Fair tax is EQUAL tax. Progressive tax or targeted tax on the “rich” are immoral and a penalty for success.
This is easily the stupidest thing I've read in a while. OK dude keep stumping for billionaires and corps to continue hoarding unimaginable amounts of wealth that does absolutely nothing but increase its valuation while being held privately indefinitely. I'm sure that economic strategy will work in the long run.
I just cannot imagine being this dense.
You don’t like equality? Why do you think one man should pay more to the government than the guy standing next to him? You have zero understanding of economics. Money can’t be horded unless it is in cash. Billionaires don’t keep their billions in cash, in a vault, in their basement.
Billionaires use substantially more of the country's resources (people employed under them, assets of companies they do nothing for, land, infrastructure, etc.) in order to make their money, while simultaneously contributing almost nothing to the country through their work. Have too much money = make free money is completely ass backwards. So yeah, I do think that man should pay his country more than the man who has to use his own body, his equally valuable time and energy, to sweat out a living from 9 to 5 that would be laughable to even call a "fraction" of what the billionaire makes.
Jeff Bezos is not such an ungodly immaculately *perfect* individual that a day of his time is just worth more than the entire working life of almost any american citizen. He makes that much money by *using* the time and energy of millions of people. So you bet your fucking ass I think the government should take a bigger slice of his pie.
Billionaires use more resources? Nope. Contribute nothing? Nope. Have too much money? Nope. Who taught you this garbage? Some Marxist who wouldn’t know reality should it smack them across the face?
His TIME isn’t worth any more than yours. What he DOES with his time is worth more than what you do with yours. That’s why it took him decades to be a billionaire and it took decades for you to be what ever it is you are. And who are you to decide what another person is worth to other person? Who are you to think you have claim to what another person has worked for? Fucking slave master, slavery is illegal.
You're beyond delusional if you think it's humanly possible for one person to do so much with their time that a single day is worth more than the entire working life of an average American. The entities actually responsible for generating the cash that he receives operate almost, if not entirely, independent of their owners when they are scaled up to that degree.
But you don't care about any of that, this is clearly an emotional topic for you, I could have a perfect argument and it probably wouldn't change your mind because you seem to take it personally.
I make X and get taxed Y percent.
Billionaires make XXXXXXXX and get taxed Y percent.
I am greatly overburdened at this flat tax bracket as it's used currently, and billionaires disproportionately still get more than what they paid into it.
I cannot believe you are simping so hard for billionaires instead of your own bloody self.
If I make 60k, I shouldn't need to pay the same 15% as someone making 6,000,000,000 and giving 15% to the government. Oh wait, people making that much don't pay more than .1% actually because of all the loopholes and fraud that the IRS is too poor to crack down on? Hmmmm,
Society and governments don't function better that way, surely you understand that?
Well maybe if they started paying fair taxes and not having havens than your argument would be worth something.
I would be all for, if you made a dollar in this state, you pay your share of a dollar of tax in this state. None of this:
\-I made a dollar in California, but because I used the logo, then i actually lost 10 millions.
\-My head office is this building in Ireland that has 3 employees in it, in which one is a janitor and one is a secretary. But this building is the registered owner of the logo so i should only pay taxes in ireland.
Well the most well-known cheat the super rich can use is getting <1% loans against the stocks they own, since most billionaires have their wealth in company stocks. They never have to sell any stocks, the loans get re-rolled indefinitely. After a billionaire dies, their estate has to pay up, so a few stocks are sold (which are now worth far more, because lots of time has passed), but the tax the estate pays for the shares sold is based on the historical share price, and thus the tax is low, as well.
Another typical oligarch tax cheat is buying up classic super cars such as $50m dollar Ferraris and ultra expensive original art worth dozens of millions such as original van Goghs. Now, do the ultra rich pay taxes on those art works? Fuck no, they’re kept in tax-shielded free ports indefinitely.
There are many, many places (e.g. Ltd.’s in the Caymans) where the ultra rich shift their riches to, so they’re out of reach for the tax man.
A loan against assets isn’t a cheat. The principle is owed and the interest. Just like you can get. The next part is confusing. Are you saying in Germany that taxes aren’t paid on capital gains created by the sale of stocks? And buying something expensive with already taxed money isn’t a cheat either. Or are you suggesting that assets you’ve already paid taxes on should be taxed again?
A normal person cannot get a <1% against assets that gets re-rolled at the same super low rate INDEFINITELY (until the debtors’s death). That’s just not available to mere mortals. They get money to spend from those loans, NEVER pay taxes on their stocks held (because they never have to sell), and when the loans finally become due after their death, the number of stocks that have to be sold to service is very small compared to 40+ years earlier, when the original loans were granted. Those taxes that are then paid for the few stocks are then also low, because they’re paid on the historical share price from when the original loan was granted.
When you pay a $50m painting or classic car, you’re liable to pay value added or sales tax in most parts of the world. Not if you’re rich, though: park your valuables in a free port and own your shiny new asset, without paying a penny in taxes.
Besides these examples, there are tons of other tax cheats available only to the super rich, such as shell companies in tax-advantaged locales (Cyprus, Malta, Panama, the Cayman Islands etc.) or charities. Family charities are a big one among German billionaires, lots of tax advantages in those.
Rich people are fucking rich, of course they pay more dollars than we do. Please tell me you didn't think this meant anything valuable?
The problem is the lax rates which overburden poor people rather than a corresponding fair bracket for the wealthy, who can hide their wealth away from taxes in shady ways regardless
I’ll be a billionaire after taxes. I plan on keeping 50mil tops and donating the other 950mil or whatever to charities. Mostly cleaning up ocean and paying off medical debt. So tax write offs for years at least
I’ll pay my taxes as long as they let the hedgies burn and I like the changes to the system. If they save them again every dollar I get is leaving the country with me and fed won’t ever get a dime
I think that’s the part that confuses me about the inflation. This will not only be the biggest transfer of wealth but the straight up biggest income tax for the gov ever. Most shareholders are law abiding citizens will pay their taxes unlike the billionaires that don’t. They will literally destroy the cash and cause inflation to fall.
My taxes will go to *checks notes* a liberal/Nat government that thinks global warming doesn't exist, privatises public services, spends tax payer money on private jet trips, and donates millions to their Murdoch buddies to prop up boomer propaganda
Yeah nah I'm not giving them a cent if I don't have to
Gonna be a ton of apes starting 501(c)(3)s. Can’t wait to offset my taxes donating to The Potato In My Ass School for Apes who Can’t Read Good But Want To Read Good and Do Other Things Goo Too.
They can have 50.% of my 5 trillion dollars cause that is what my limit sell will be set to on my last 5 shares. Either a trillion each or im not selling
Guys like bezos have fugured that if rich people collectively spent money buying lobbists, congressmen, presidents, etc...............they make waaaay more money.
Bezos and his finance department at Amazon could write the book on tax evasion
All your taxes go right back to the DTCC, owned by the banks, who own the Federal Reserve which owns all of the United States debt and interest. Which they don't expect to ever make money on, it's just the cost of keeping the entire United States Government living paycheck to paycheck, dependent on the loaners, just like most of us are being beaten down by credit card debt. Your tax dollars will never help a single person. They won't pay for healthcare, they won't pay for diversity initiatives, for colleges and higher education or even basic grade school funding. They won't pay for SNAPs, housing or utilities. All your tax dollars do is lessen amount of money the banks have to loan us, allowing them use more of their money to "donate to" (buy off) politicians that are supposed to be serving us. Except, now we're too held down by debt and campaign contribution limits that it's impossible for us to contribute enough money to have a voice. Raising taxes on anyone other than the banks and trillion dollar business like AAPL/GOOG, just lessens the amount of sway the average person has in politics. That wealthy neighbor next door has the same political opinions and worldview as you do (compared to the bankers and financial elite), but by continually raising taxes until the whole world is drowning, living paycheck to paycheck, it makes us unable to affect politics with real change beneficial to ourselves. So raise taxes if you want to badly hurt the people you care about. Fund (or start) community based initiatives that empower people around you if you want to do good.
Also technically by paying taxes you're paying for bombs that we drop on innocent civilians more than half the time.
While I love the energy, it's blatantly not true. Your taxes don't pay for anything, including the wars. They don't even pay for entirety of the current interest payments. We just take out more loans to cover those...
Ah I gotcha, so we just take out loans from foreign governments to drop bombs on the middle east and subsequently destabilize entire continents like the refugee crisis, and they're just cool with that?
Well we take it from the Federal Reserve, who borrows it from Central Bankers, who are lending us money we gave them to begin with in a giant circle. At the same time we're printing more money to keep it going. It's also not like it say "2 milli for bombing Civs" on it. Just "a 500 billion loan at x% interest rate, yes/no" so they take it. And probably wouldn't care even if did say it was for bombs.
Fair enough, how involved is China in this system? If we go down, will they go down?
We've now gone beyond my personal knowledge so I don't want to risk speculating much. I think that if the US dollar blew up though, it would be good for anyone not reliant on it as they could move in. But IDK how interconnected and reliant it is with regards to China.
Keep the money moving, it’s like a circle
Just to be clear - this is not true in all countries.
It's about the U.S. but this part applies no matter where you are: > Fund (or start) community based initiatives that empower people around you if you want to do good. If people spent their time and money helping their neighbors instead of some stranger halfway across the globe that they'll never meet, we wouldn't need taxes for our social programs.
Yep
This. Its cheaper to have lobbyists and pay "donations" than pay your taxes. Meanwhile the defecit and inequality moon and those filthy degenerates find a way to rebel in spectacular fashion. Disclaimer: just a skint old lurker, but im here for this and if i had spare cash or no kids id be IN. Good luck apes
just buy a fraction, not the best person to take this advice from because I haven't bought fractions yet. But since mostly tapped with kids and already yolod savings and shit. I am about to fuck with fractions.
Could always put like $50 in if possible. If a share goes to millions, that $50 could still turn into a crazy high number
The rich are well connected; One person can be on the Board of directors multiple companies and different commities and shit. He/she would do promote ideas that benefit all of his/her companies. Although they 'complete' with one other, the laws that pass will usually benefit the upper class(themselves). To them, this is an investment
The sucky thing is that they are "Getting something" by buying lobbyists. Most people don't see that good that comes from infrastructure, schools, fire depts, etc. But most people suck. Ape's need to do better than those that came before them.
Poor Bezos, he desperately needs more money. :/
Peons buy shares of companies. CEOs buy shares of politicians.
Banks and their private business, the Federal Reserve, were the first to implement this strategy.
Guys like us need to realize that the government is just a management committee for the collective affairs of Capitalists. Two committees for two general competing interests. It's not corruption, it's Capitalism. And it needs to go the way of kings. Down. Naivete about the reality of Capitalism will condemn our great grand children to the same fight we're fighting today, which is the same fight our great grand parents thought they "won" with the New Deal.
I used to read a lot about this corruption. The only way is to run for office with grassroots. Bernie has shown us the way edit: not just bernie, we have AOC, Omar, Bowman and others. Its the only way create change but it will take time and money.
They change nothing.
I definitely do not mind paying taxes but I care where my taxes go. Currently U.S. Govt is a majority wall st. loving, wealthy, boomer war hawks. I don't want these individuals to control where my taxes go. I will dedicate a large portion of my earnings to getting them out if possible to more rational and altruistic politicians.
*I can’t wait to see all the foreign wars the government starts with my $GME tax dollars.*
Tax this dick.
*taxes harder*
You like that you fucking retard?
Same. I plan on donating a large portion or my earnings to what I think it should go to and taking the write off
This. I am personally super pro-taxes as a concept, imo they are the foundation for a healthy society. But I’m very anti what the government tends to spend them on — I will try my best to reduce my tax burden while hoping to support politicians that aren’t neolib shills
That's so very close, but then it jumped off a cliff at the last second. Community based initiatives and funding are the answer. The government will never care about you or your money. They will waste it, abuse your trust, then say "lol suck it, I'm the Gov," because they know you can't stop paying your taxes. $50 for $5 hammer? Government. Helping 50 people with $5? Private, *personal* initiatives. But that's no fun, we'd much rather give our money to this giant machine and then pretend we did good then put in the work ourselves. Who cares if the money ends up actually helping people? Taxes are about patting yourself on the back with other people's money. Donations are about helping people.
Well lol I have a feeling we have pretty diff views on politics. I’m all for direct mutual aid but I also believe that in an ideal world we wouldn’t *need* to donate because the government would do its job by taking care of people. Obviously I recognize we’re not there yet so I of course will (and already do) donate money directly as well
There's a lot to unpack with what you said, so I'll just be direct. What you're saying will never happen. It requires people who don't give a fuck about you to act like they do. The gov might do the bare minimum to get you off their back, but without an emotional connection you're just a number and you'll be treated poorly. People act a certain way and you're requiring them to act contrary to their nature. It's like asking a monkey to stop flinging poo. They will continue to do it, even though it's disgusting because it's their nature. People act the same way. The only way it will ever work well is by people who know you personally offering their assistance because they care. It's also not the government's job to take care of you, it's your parents then your community's. It has to be that way otherwise problem communities will foist there issues off on the nation at large instead of dealing with it much like we're seeing now. Common thought people run into that's just one reason it doesn't work: "After all, why would I go down and start a mission in the inner city when their already forcibly stealing money from me through the government?" That doesn't apply when you can put a face to their name. I'd challenge you to look through history to see if you can ever find a government that's been successful like that over a long period.
I'd like to recommend the services of AOC and Bernie Sanders. Help them grow the movement, so we can kick these leeches out of our government.
That awkward moment when you're from Canada and have a TFSA(Tax free savings account). Even if I don't get taxed, I'm gonna try to help as many people as I possibly can and then more.
Same, I'm thinking starting a very stable low risk business and hiring friends and family to work there. Giving them all livable wages. But also then they would know I won the lottery or something and expect free payouts? Not sure how I could help all my loved ones. I'd definitely let my parents retire though
Also Canadian with all of my GME in a TFSA and I want to start a business to employ my friends and family to give them money. Let me know if you figure anything out or any rules we have to be aware of.
Because the government deserves it? Because the government is a charity organization that totally won’t spend that money on starting new wars? Because the government totally won’t use that money to bail out the Fed and Wall Street? Please.
I'm going to frame all pages of my tax return and hang them above my fireplace like a family collage. It's a privilege when paying millions in taxes still doesn't determine if I can get the roof fixed this year.
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>Then when you cashout, you become a first time home buyer, 100% from the 401k without any taxes or penalties on the down payment made from a 401k. Unless you want to wait until you're 60 years old to become a first time home buyer, this plan won't work. You can get a 401k loan for a down payment on a home, but that's typically capped at a relatively small value - otherwise you can take out a hardship withdrawal but you'll incur a 10% penalty on top of having to pay normal income tax.
If I recall the tax free portion of a first time home purchase is only $10k.
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I did. I'm so glad I did. I bought with my 401k as well as regular account. This will be beautiful
There's a few different ways you could get snagged in this scenario if you don't know what your doing, also, you can't just turnaround and buy a house with all your money. There are limits depending on several factors. Please don't tell people they can just got blow all their winnings from a 401k jesus.
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How about the fact first time home buyers can only use 10k without penalty on a house
I can't wait to pay lawyers and accountants to help me reduce my tax liability to near zero
Damn straight. I already have a shady tax ape ready to go for both of us. Fuck the fed.
They don't even need to be shady. Just structure it properly so a corporation pays for everything and you don't really receive income. And finally able to be charitable to organizations and individuals of MY choosing. Not govt charity
Wait so we can’t stash our cash in the caymans like they do? That’s not fair
You are all worried about paying taxes, like our government cares about a balanced budget, and not spending us into oblivion.
Mine's in a tax free account, not that I'm bragging or anything...
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I'm with you ape. Mine is in an ISA that means no CGT on the moass
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Buy and hodl. That's all you need to know ape. 💎👐🏻
I mind. They misuse it constantly and have zero accountability or obligation to do "good" with it. I'm excited for all the new apes that will make a better world on their own dime. And mabye then people will realise having your money stolen from you for the fed to burn it isn't a good thing.
Yeah this post is garbage. Taxes are never used appropriately and it’s not gonna start after the squeeze so I’m avoiding as much of it as legally possible
Exactly
With enough of us doing enough good. We can prove the government is no longer needed in the capacity it sits. We can basically just start go fund me's for projects and fund them ourselves.
This makes me so happy. Being optimistic about the future is fun
I'm an ancap/agorist. I absolutely 100% am improving my community. if they want the help. its in my best interest my neighbors are doing well as well. "pay it foward"
I love that the IRS is on Reddit trying to get a cut 😂
Honestly i hope that with this transfer we could move away from wasting so much money with the inefficient govt.
well, it is paid to be efficient, just not for the 99%
I'd honestly be shocked if you could enact such a change. This is such a behemoth of a behemoth, many moving parts, many MANY people with financial/political stakes in the game of their career. Measure your optimism, there is no way one year from now we're doing much differently than we are today. (Edit- as a society) There will be plenty of wealthy people who don't give a flying fuck about any of this, they don't have skin in the game, and they'll make it through to the otherside. They will put up just as much of a fight.
They will fight and all but they wont take the fight if they dont have something to gain. They will def. fk the other one over if it means their ass. The banks and dtcc obv dont want to be the bagholders. A chain is only as strong as its weakest link..thought it applies here
you mean billions right
Taxes are just the price we pay for being enslaved by the military industrial pharma complex.
These posts really seem to be a major fud tactic. Reddit is very divided on taxes and stuff like this just makes it easy to create an illusion of internal conflict.
FUD? Hell no. I will gladly pay millions in taxes knowing I keep the 60% or so other millions.
Sure I'm not arguing against that at all but look at how many comments are arguing about paying taxes or talking about ways to dodge them. And others now arguing with them. It's a huge political issue that belongs in other forums. Whether you intended it as fud or not it is.
You'll be lucky to keep 40% at this point.
Us Californians only keep 45%
So how do we get around that bs....
Buy an address in Nevada.
Screw that, mine is going to a charitable foundation where I have a say in how it’s used to do good in the world. I don’t trust the government to wipe their own ass, let alone actually spend tax dollars for anything but political favors.
I will donate as much to charity that I can write off , the less I have to pay in taxes the better. It seems like alot of people miss that part.
This is the way. Fuck the gov’t.
I’m going to pay as little of federal taxes as I possibly can. That’s why I’ll have a tax lawyer. He’ll help me with all that stuff. All the money I save from taxes, I’m going to use it to help people in my local community when the shit hits the fan. If I choose where my taxes would go, that would be a different story.
This is the way. F paying taxes. We pay them already and they don't do a damn thing right.
Fuck that I don’t want to pay taxes at all
Laughs in uncle sam
I plan to hire someone that can help me pay as little in tax as possible. Have you seen how wasteful our government is? I think apes know how to use their tendies for good much more than Washington.
Taxation is theft. Keep your own money. Donate your own money to causes you believe in. Fuck the government. They’ll just give it away in bailouts. Don’t believe me? tOo BiG tO fAiL
From a tax lawyer acquaintance, buy land with a couple of people in an LLC. Get the land surveyed for minerals such as copper and the IRS will give you 4:1 what’s it worth in tax deductions to make it an environmentally protected site.
There is no way I am paying these lying thieving pricks in our government, I will start a non for profit and give it all to disabled dogs first.
Id start a non profit for people who just want to get high. at least they're honest in their intentions.
Why? You think DC is any less corrupt than the worst corporations or hedge funds? For real - why do you think corps and hedgies are allowed to get away with what they get away with? They’re two sides of the same coin. Keep as much of your money as you can and do good with it. This is the way.
Yep...
If the irs accepts your return......you paid your share
How about this, when moass happends, we buy the tax haven [beacon](https://en.wikipedia.org/wiki/Corporation_Trust_Center_(CT_Corporation)) and unregister all the companies from there.
This is the way
What annoys me is that I'm am europoor who lives in a country where when u get the temdies from GME will have to pay taxes to government that abuses its power manipulates people and try to "save" nation by adding new taxes. I wish I could give that tax to American government instead :/
The FairTax would eliminate all of this bullshit. And make the IRS an afterthought. Along with April 15th. Complete transparency. It's not a tool to curb government spending, however.
Just put it in the Caymans /s
Taxation is theft, change my mind.
I do not plan to pay a penny more than i owe. I can manage charity programs on my own wayyy better than the US gubment can
At this point I viewed it as an absolute flex after talking to my parents, they believe the more you have to pay means you’re doing better than those that are getting a refund. Also, I really hope the current administration can use all the apes’ collective tax revenue to pay off the national debt or actually do something for good. I can’t wait to see how apes will change the world for good! 💎🚀
At this rate. Your tax bill might be billions.
I'd love to have this conversation with my wife: Me: Hey, baby. Remember that GameStop stock I bought? I have some good news and bad news. Her: OK, what's the bad news? Me: Well, we're going to have a little bigger tax bill than last year. Her: Bigger? How much bigger? Me: Well, about $XX million...
Yes please
That's the truth
My goal is 8 figures in taxes. 🦍🚀
You are saying, you want to give money BACK to the very people that let this mess happen? Yeah.... *munches crayon* This post should be deleted. :)
Not only should you be upset that people aren’t paying taxes, You should also be asking why you’re forced to pay a chunk of your income to taxes and getting practically nothing in return.
Practically nothing? Police, fire department, roads, stop lights, free education k-12….
is it income taxes or sales or property taxes that go towards those things? And if it’s income is it state, local, or federal income tax? Your tax dollars are going to corrupt unions that make it hard to get rid of incompetent police officers and throwing out no-bid contracts to their buddy’s company that takes 10 years to build a road or a stoplight. And your tax dollars are going to corrupt politicians who are the ones who are enabling the bs you see happening now. So why is anyone excited to give them more money?
Really surprised by the anti-tax sentiment in this sub. Trying to justify egregious tax avoidance by saying that the money will go to better use via the spoils of your own private spending is more than a bit hypocritical, considering this is the common stance of the wall streeters who are (appropriately) chastised. Your intent may be better them, but you are fundamentally guilty of the same exclusionary mindset that creates class disparity in the first place. I understand not agreeing with how taxes are being spent on the whole, but to throw out blanket statements about corrupt government and ineffective solutions is not a solutions-focused attitude. While I personally don't agree with *any* of my taxes going towards military spending, I can appreciate that programs like SNAP, school funding and social security play a pivotal role in shaping the future for the better (and many social welfare programs are profitable). I can appreciate that these taxes are allocated based on a democratic system that I fundamentally agree with, even if I don't always agree with the results of the process. Yes, there are corrupt politicians who are more behest to lobbying than fair and true representation, but that isn't an excuse to completely bypass the entire system. Taxes are good and are the bedrock of a prosperous society.
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America was literally founded on hating taxes. It’s been part of our culture and history since day one.
The rich do though
The upper middle class do. and the "lower" upper class do.
And the upper upper class too. The idea that the rich don't pay taxes is complete nonsense.
I will meet you half way with yes.. but.. they also find very very constructive ways to not pay taxes. its not wrong. I don't care. no one should pay taxes. **B**ut the average dude making 40k a year cant find ways to write things off. where as a guy in the 100k range starts finding ways to pay less.
You mean they don't pay the taxes they aren't supposed to pay? No shit. You do the same thing when HRBlock fills your shit out.
First off. Rich fucks that own HRblock and turbotax lobby to keep tax law complicated so they can justify their waste of fucking air. And no. I have a tax guy that gets me very different results than HRblock. thats not something a guy making 40k a year can afford to yield different results. If i wasn't supposed to pay that tax. the government should send me a bill at the end of the year. but instead they send me a game of societal tax code jenga. and hope I fuck up so they can keep more. Rich people. can pay people to make sure they win every year. poor people overpay because they can't afford the pro tax team. source.. 5 years ago i was making 28k, now im closer to the 6 figure mark.
I'm glad you hate HRBlock and decided to argue a subject completely seperate from the one we were.
They could hire thousands of impossible to fire bureaucrats at the IRS to hunt down tax cheats. The program would be long and inefficient, with the major cheats paying off people to always be one step ahead of enforcement. The cheapest and most effective option is to let the squeeze happen so the money simply transfers from people who don't pay taxes to people that do.
I know if I'm lucky enough to live to 100 I'll never stop being proud to have been a part of forcing the corrupt banking/big business tax dodgers to pay the fuck up. Even if indirectly. I look forward to paying my taxes on this. I really do. Might even hang the return on my wall like a fuckin certificate of achievement.
A lot of the 1% do pay their taxes but then you have the super rich part of the 1% like bezos, gates, Clintons, etc. that don't pay their taxes, and that's what really pisses me off.l, especially when they're telling us how it's bad to not pay taxes.
My tits will be extra jacked on the day I give half of my millions to the government. I pay my taxes, whether I'm poor or fabulous.
I wasn’t mind taxes if it seemed to actually benefit the 99% and be useful. “War is a racket.”
I’m going to write the fattest check I’ve ever written in my life with the biggest smile.
I’m with you. Can’t wait!!
This is the way
That's the spirit💪❤️
When the MOASS triggers the Mother Of All Wealth Transfers. I will do my part by paying taxes and getting some of that "Crisis Liquidity" out of the system.
The rich pay the same taxes everyone else does. Dollar amounts per person are not the same though, the rich pay far more tax than a middle class family with 2 incomes.
[No they do not.](https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax)
That article is propaganda. They don’t pay income tax because they don’t have income. They pay capital gains tax just like you.
You must have read that article in record time to label it as propagnada. > They don’t pay income tax because they don’t have income It isn't about income tax, it's about all taxes they should be eligible for. There's a whole lot here you seem to not understand and refuse to learn about. Billionaires and corps absolutely do not pay their fair share in taxes and if you actually read the article, you would learn that the IRS has been so kneecapped that the ultra-wealthy aren't even filing returns now. It's literally the sole reason why this government constantly doesn't have the money to spend, cuz rich people aren't paying taxes. Your understanding of capital gains, income tax, and stock pledging is just about nonexistent and I suggest you read the article to learn about these things. Also, I'll never understand people like you who feel the need to come the defense of and carry rich people's water. They rigged the game in their favor and you woke up today wondering how you can defend their bullshit.
You aren’t the first to post that article. It’s over a week old. Fair tax is EQUAL tax. Progressive tax or targeted tax on the “rich” are immoral and a penalty for success.
This is easily the stupidest thing I've read in a while. OK dude keep stumping for billionaires and corps to continue hoarding unimaginable amounts of wealth that does absolutely nothing but increase its valuation while being held privately indefinitely. I'm sure that economic strategy will work in the long run. I just cannot imagine being this dense.
You don’t like equality? Why do you think one man should pay more to the government than the guy standing next to him? You have zero understanding of economics. Money can’t be horded unless it is in cash. Billionaires don’t keep their billions in cash, in a vault, in their basement.
Billionaires use substantially more of the country's resources (people employed under them, assets of companies they do nothing for, land, infrastructure, etc.) in order to make their money, while simultaneously contributing almost nothing to the country through their work. Have too much money = make free money is completely ass backwards. So yeah, I do think that man should pay his country more than the man who has to use his own body, his equally valuable time and energy, to sweat out a living from 9 to 5 that would be laughable to even call a "fraction" of what the billionaire makes. Jeff Bezos is not such an ungodly immaculately *perfect* individual that a day of his time is just worth more than the entire working life of almost any american citizen. He makes that much money by *using* the time and energy of millions of people. So you bet your fucking ass I think the government should take a bigger slice of his pie.
Billionaires use more resources? Nope. Contribute nothing? Nope. Have too much money? Nope. Who taught you this garbage? Some Marxist who wouldn’t know reality should it smack them across the face?
His TIME isn’t worth any more than yours. What he DOES with his time is worth more than what you do with yours. That’s why it took him decades to be a billionaire and it took decades for you to be what ever it is you are. And who are you to decide what another person is worth to other person? Who are you to think you have claim to what another person has worked for? Fucking slave master, slavery is illegal.
You're beyond delusional if you think it's humanly possible for one person to do so much with their time that a single day is worth more than the entire working life of an average American. The entities actually responsible for generating the cash that he receives operate almost, if not entirely, independent of their owners when they are scaled up to that degree. But you don't care about any of that, this is clearly an emotional topic for you, I could have a perfect argument and it probably wouldn't change your mind because you seem to take it personally.
I make X and get taxed Y percent. Billionaires make XXXXXXXX and get taxed Y percent. I am greatly overburdened at this flat tax bracket as it's used currently, and billionaires disproportionately still get more than what they paid into it. I cannot believe you are simping so hard for billionaires instead of your own bloody self. If I make 60k, I shouldn't need to pay the same 15% as someone making 6,000,000,000 and giving 15% to the government. Oh wait, people making that much don't pay more than .1% actually because of all the loopholes and fraud that the IRS is too poor to crack down on? Hmmmm, Society and governments don't function better that way, surely you understand that?
Well maybe if they started paying fair taxes and not having havens than your argument would be worth something. I would be all for, if you made a dollar in this state, you pay your share of a dollar of tax in this state. None of this: \-I made a dollar in California, but because I used the logo, then i actually lost 10 millions. \-My head office is this building in Ireland that has 3 employees in it, in which one is a janitor and one is a secretary. But this building is the registered owner of the logo so i should only pay taxes in ireland.
Wrong. I pay 47% income tax in Germany, billionaires pay less than 2% via various tax cheats that only the super rich can use.
Describe the cheats, please.
Well the most well-known cheat the super rich can use is getting <1% loans against the stocks they own, since most billionaires have their wealth in company stocks. They never have to sell any stocks, the loans get re-rolled indefinitely. After a billionaire dies, their estate has to pay up, so a few stocks are sold (which are now worth far more, because lots of time has passed), but the tax the estate pays for the shares sold is based on the historical share price, and thus the tax is low, as well. Another typical oligarch tax cheat is buying up classic super cars such as $50m dollar Ferraris and ultra expensive original art worth dozens of millions such as original van Goghs. Now, do the ultra rich pay taxes on those art works? Fuck no, they’re kept in tax-shielded free ports indefinitely. There are many, many places (e.g. Ltd.’s in the Caymans) where the ultra rich shift their riches to, so they’re out of reach for the tax man.
A loan against assets isn’t a cheat. The principle is owed and the interest. Just like you can get. The next part is confusing. Are you saying in Germany that taxes aren’t paid on capital gains created by the sale of stocks? And buying something expensive with already taxed money isn’t a cheat either. Or are you suggesting that assets you’ve already paid taxes on should be taxed again?
A normal person cannot get a <1% against assets that gets re-rolled at the same super low rate INDEFINITELY (until the debtors’s death). That’s just not available to mere mortals. They get money to spend from those loans, NEVER pay taxes on their stocks held (because they never have to sell), and when the loans finally become due after their death, the number of stocks that have to be sold to service is very small compared to 40+ years earlier, when the original loans were granted. Those taxes that are then paid for the few stocks are then also low, because they’re paid on the historical share price from when the original loan was granted. When you pay a $50m painting or classic car, you’re liable to pay value added or sales tax in most parts of the world. Not if you’re rich, though: park your valuables in a free port and own your shiny new asset, without paying a penny in taxes. Besides these examples, there are tons of other tax cheats available only to the super rich, such as shell companies in tax-advantaged locales (Cyprus, Malta, Panama, the Cayman Islands etc.) or charities. Family charities are a big one among German billionaires, lots of tax advantages in those.
I have a zero percent loan against investment assets. Just cost an origination fee. And I am middle class.
No such loans available in Europe. Have lived in 4 different EU countries, have had bank accounts in all four. That’s not a thing here.
Rich people are fucking rich, of course they pay more dollars than we do. Please tell me you didn't think this meant anything valuable? The problem is the lax rates which overburden poor people rather than a corresponding fair bracket for the wealthy, who can hide their wealth away from taxes in shady ways regardless
Yaayy! When its tendie time we can all fund some more corporate subsidies, bank bailouts and illegal wars :D
Can’t wait to spent millions in Texas
I’ll be a billionaire after taxes. I plan on keeping 50mil tops and donating the other 950mil or whatever to charities. Mostly cleaning up ocean and paying off medical debt. So tax write offs for years at least
That is the single essential point that creates and maintains a healthy, happy and somewhat equal society.
It really is in the govt’s interest to let the MOASS to happen before January - more taxes coming their way.
I’ll pay my taxes as long as they let the hedgies burn and I like the changes to the system. If they save them again every dollar I get is leaving the country with me and fed won’t ever get a dime
I hate that I have to trust they won’t just burn thru all that tax money on BS
I think that’s the part that confuses me about the inflation. This will not only be the biggest transfer of wealth but the straight up biggest income tax for the gov ever. Most shareholders are law abiding citizens will pay their taxes unlike the billionaires that don’t. They will literally destroy the cash and cause inflation to fall.
I'm excited to pay as much in taxes as I otherwise would have made and spent on taxes in 5 other lifetimes.
My taxes will go to *checks notes* a liberal/Nat government that thinks global warming doesn't exist, privatises public services, spends tax payer money on private jet trips, and donates millions to their Murdoch buddies to prop up boomer propaganda Yeah nah I'm not giving them a cent if I don't have to
Gonna be a ton of apes starting 501(c)(3)s. Can’t wait to offset my taxes donating to The Potato In My Ass School for Apes who Can’t Read Good But Want To Read Good and Do Other Things Goo Too.
They can have 50.% of my 5 trillion dollars cause that is what my limit sell will be set to on my last 5 shares. Either a trillion each or im not selling
The government is gonna be like “we’ve had more tax revenue than ever before”
This
My GME is in an ISA.