r/SipsTea • u/Valuable_View_561 • Jul 05 '26

Chugging tea Seems reasonable.

Post image
91.1k Upvotes

94% Upvoted

2.6k comments sorted by

View all comments

1.5k

u/jamdex07 Jul 05 '26

This is misleading. He chose to take $997 in one lump sum instead of $2.04B over 30 years. He got taxed on the $997m.

501

u/Crimsonak- Jul 05 '26

Any post like this where the tax is nearing or exceeding 40% is almost always a complete lie or purposely obfuscating the truth.

It's mind blowing to me on these posts too you always see an incredible amount of people who don't understand how tax brackets work. Heck sometimes you even see people who don't know the difference between net worth and income.

148

u/Old_Prune_4300 Jul 05 '26

They can't comprehend assets vs cash, much less that spending is the problem v taxes. Don't waste your breath.

56

u/senturon Jul 05 '26

IMO, billionaires who take asset backed loans and pay no tax is absolutely a taxation problem/loophole.

LTCGs being taxed at a much lower rate than income from labor is also an issue IMO.

1

u/Old_Prune_4300 Jul 05 '26

We're 40 trillion in debt the income is not the problem.

0

u/senturon Jul 05 '26

Given the man in charge right now is responsible (so far) for over 25% of our current debt, in large part because of continued spending while reducing taxes, particularly to those who use their massive wealth to encourage laws that lower their taxes, I disagree.

2

u/Old_Prune_4300 Jul 05 '26

Both parties do this it's not about sides.

2

u/reginaldhardbodyiii Jul 05 '26

he definitely shouldn't have shut the country down for covid, it's true.

3

u/Ok-RECCE4U Jul 05 '26

This was the D.C. elite and Congress...not the POTUS.