welcome to the organic green doctor blog

i am a family physician who was diagnosed with
early mild cognitive impairment(mci) amnestic type on december 21, 2010
this is a precursor to alzheimers disease
because of this diagnosis i have opted to stop practicing medicine
this blog will be about my journey with this disease
please feel free to follow me along this path
i will continue blogging on organic gardening, green living,
solar power, rainwater collection, and healthy living
i will blog on these plus other things noted to be interesting

Tuesday, June 29, 2021

why dont the rich pay more taxes


i was intrigued by this after listening to a podcast by kim komando the computer person talking about this topic linked here with an accountant
they also discuss this propublica article on the topic

the bottom line
most of us pay our income taxes based on a paycheck we get 
most of the wealthy folks get their income from investment income that is taxed at a much lower rate than your income tax rate
many of these real rich folks like bezos and musk and buffett dont have any income to tax except for their investment income
their wealth is also tied up and not taxed

yes they pay all these other taxes
so do we like state and local taxes gas tax social security tax federal taxes car taxes property taxes etc

they just dont have much taxable money to pay taxes on 

remember trump one year paid around $700+ in taxes
he probably wont pay any taxes for awhile since many of his businesses are loosing money now

in my career i have paid from 0% to an almost 40% tax rate

the 100 most wealthy americans average tax rate is 16%

another reason the richest dont pay more taxes
they have the influence thats needed to have the tax laws bent their way
the tax breaks favor them over the regular folks

the one that stands out is the corporate tax rate that was lowered significantly 
it needs to be raised back up some to maybe 25%

the irs needs to collect the money thats owned them
why havent they been doing that anyway huh

now i have used some of these tax saving techniques over the years
once i got back all the taxes i had paid for several years
it didnt seem right but it was legal so my accountant did it

i never mind paying my taxes as long as they are fair

i almost felt guilty doing those tax breaks
we need to get rid of some of those laws that let the more wealthy folks get the tax advantage
you have to do it in a way to not subdue economic growth

i dont have a solution

just like many of you
it doesnt feel right that they dont pay more taxes
many of you have to pay a much higher rate

its just not right
it should be fixed

it doesnt pass the smell test
it smells bad

the organicgreen doctor

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