Tax the Rich; New Tax Havens; Washington Insiders; Dialing for Dollars | 60 Minutes Full Episodes
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- Опубликовано: 28 май 2024
- Lesley Stahl’s 2010 report on the battle over taxing the rich. From 2011, Stahl’s report on corporate tax rates. Steve Kroft’s 2011 report on insider trading by members of Congress. And from 2016, Norah O’Donnell’s report on congressional fundraising.
#60Minutes #News #Taxes
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0:00 Introduction
0:11 Tax the Rich
13:45 The New Tax Havens
27:17 Washington Insiders
42:29 Dialing for Dollars
We have poor American citizen who had joined our military and put their lives on the line, fight and died, to protect our country. But we, also, have rich businesses and companies who open their headquarters overseas to avoid paying taxes. The poor is also made or asked to carry burden.
It’s such a joke. Tax the people that buy lobbyists. Lol.
Rich Man’s World
ruclips.net/video/yaBE-Oq4y2A/видео.html
Bingo 🎯, It is a joke. Red or Blue, What's the difference. A one party system with two factions.
Lobbyists for all corporations need to be limited. There are 3 lobbyists for every congressmen and senator in U.S. government. How lobbyists does oor citizens have?
Tax the heck out of lobbyists. They're all a bunch of greedy lawyers anyway.
This aired in 2010, The national debt was 13 trillion. It's 32 trillion now.
34 now
This comment was posted 1 year ago, today March 21, 2024 national debt is 34.5 trillion
TAX THE POLITICIANS!!!
You obviously didn't make it past the 9th grade
It should be illegal for a politician or a politicians spouse to purchase stock while in office.
They do lmao
I dont think that taxing incomes over $250.K , a rich mans tax rate at 30% is outrageous.. After WW2 the top earners had a 50% income rate 30% is not to high at all
What about before WW2? And do you realize when they had insanely high taxes in the past, they had more loopholes? Also I'll never understand how people want to have a higher percentage tax for the rich. Percentages already scale. If someone makes 10 billion dollars, and they pay 20% that's 2 billion. If you make 50K and pay 20% that's 10K. The billionaire still pays 200,000x more. If you guys want meaningful change you have to be fair. Flat 20% for everyone, all loopholes cut out. And the poor will already get government assistance so their effective amount of money paid falls naturally that way when they get let's say 10K worth of benefits.
No matter how much this matter is dissected, it all results to GREED!!!!!!!
Worse than that!
Corporate and government greed is the real problem.
Then let’s change the system that inherently gives rise to this and even incentives it.
ruclips.net/video/yaBE-Oq4y2A/видео.html
Alex Murdaugh.......
@@AmericanTeacher-USAThat was individual greed.
The greed among the rich is gotten out of hand and so sick of it.
Can you provide an example?
@@giuffre714 Watching CPI go up 500% since 1970 while wages went up 80%, profiting from the increased CPI. Neglecting to pay fair wadges, now we lost the middle class.
@@jamesbillingsby8043
Didn't people make $5 an hour in 1970?
I'm about to turn 59 on the 17th of this month and I've been watching this show I'd say for at least 50 years! ty for excellent programing and congratulations on the success of staying on the air!
Wishing you not only a Happy Birthday on the 17th, but many more years of joy!
@@M.M0709 thank you!😁
Very true 🙏 they did really good.. happy birthday to you on the 17
happy late bday
The Gov. PAYS them to stay on AIR... In 2023 anyway...
This is one of the most anger inducing videos I have seen about politics recently.
This was from 2010. Things have changed.
if they have headquarters outside of the USA, to be able to service the USA, they have to pay taxes
ohhh but your going to raise how much it costs to go on a cruise! its everybody's RIGHT to go on a cruise 🤣
You think they don't pay other taxes to service the USA? Import taxes. Payroll taxes. Sales taxes (which they collect and pay.) Capital gains taxes for the shareholders (double tax.) Property & TPP taxes on their assets here.
@@rewardilicious Obviously they do not pay large enough Import Taxes!
Lacking an awareness of humanity, fairness, and justice, all I can say is that I am so grateful to not be holding their hand on their judgment day.
3:19 if you think that is big, the Total Unfunded Liabilities is more than $180 Trillion. Liabilities towards the government equally spread out to every citizen of the United States would leave every citizens to pay more than $543,000 to the U.S. Government to eliminate the Total Unfunded Liabilities. We can't go on forever like this. Rising liabilities and a decreasing workforce is a recipe for disaster for the future of the U.S.
The rich have a disproportionately larger amount of income. They generate revenue with just their income because it's so much. Also, not everyone but for the rich there are so many tax loop holes and was around paying taxes. The wealthiest Americans may be avoiding $163 billion in income taxes every year, according to the U.S. Department of the Treasury, as sited on CNBC.
Unfortunately our country is headed to dark times with devaluation of the U.S. currency and a large budget deficit. Yes the problem needs to be fixed at it source, however with working class Americans already struggling to get by, it's time everyone do their part and that means the rich paying more taxes.
The top 10 to 20% are holding a lot of funds out of circulation. The gap between the mode mid-point and the top 10% is too great. More than 50% of the US population should be within $50,000/year of the mode mid-point. The middle is hollowing out. That is bad for our society. Not having a broad and deep middle is unstable (like banana republics).
It doesn't matter if the US corporate tax rate is 30%, if there are so many loopholes that they are paying less than 1%. Maybe shareholders and bonuses to executives should be held until the company pays 20% of the annual revenue in taxes. When the company is so profitable, then executives get bonuses and stockholders get dividends.
@@bcase5328Yes. When a supposed "billionaire" can pay $750.00 two years in a row and even pay $0.00 some years, there are TOO many loopholes and tax breaks. They should also lower the threshold for inheritance tax, heavily tax money that is "kept out of circulation", and revert back to the '70's (I think that's when it changed?) era percentages for the ultra wealthy, somewhere in the neighborhood of 70+%
You have no idea what the tax code is, how it works, or the incentives built into it. If you did, you wouldn’t say such ludicrous things.
@@STELLASCUTENESS Why don't you enlighten us oh all knowing?? Of course you can't because there are loop holes the rich have like the SALT deduction and also borrowing against their own stock which isn't taxable. It sounds like you don't know the tax loopholes that exist for the rich or you don't want to admit to them.
@@randibgood EXACTLY... I live paycheck to paycheck, make just over $30k/year, have no savings, and pay WAY more taxes than that!
Taxing the rich needs to be implemented nation wide, while tax cuts for the middle class also needs to be implemented nation wide. The answer is simple and obvious
If that was done, the politicians who voted for this measure would be out of a job. Guess who votes? It's not the middle class.
Won’t happen. They will tax middle class more without touching the rich. The only thing middle class can do is to move to Florida and Texas where there are no state taxes
@@slicktheslickster everyone I know votes… regardless of their class
we have a deficit that is on the verge of sinking our country, we cannot have any tax cuts, the only way out is to tax the wealthy and cut government spending.
Show me a congress that has ever been less than 90% millionaires. They're not going to vote against their own interest. That's for republican voters.
just pay your taxes. quit being so damn greedy. you already are rich and live a top-notch life.
“Soft corruption” that’s a new one
The most important thing is to get rid of all the tax loopholes for the rich and corporations. We need to vote more people like Bernie Sanders and AOC into the government. People who actually work for the middle class instead of the billionaires.
The rich will always be one step ahead and figure way to move the money to not get taxed. I don’t blame them either, if I were in their shoes I’d do the same exact thing.
Even if a rich person couldn’t move the money you can only tax them but so much before all his wealth is gone. Then who will you tax? Ah yes, right back to the people who are already footing the bill. The middle class. You don’t need an economics class to figure that out. Yeah socialism is all fine and good until you run out of everyone’s money. Then what????
You are not making sense. They are hiding the money for the tax breaks, so lower the tax rate and get some money back. Bernie Sanders makes great talking points, but I will not work at any practical level. The politician thing is beyond corrupt.
Lol!!!!! Yeah that would be the end.
🤮
@@Corkfish1 that would be the end of corruption and screwing over the middle class
How does a nation of billionaires not contribute to the tax burden shared by everyday Americans?
Cuz they don't make income.
Our government has forgotten about their constiuants. We put your where you are at. You owe us, the American people. You owe us to do your job and legislate and get to work for America.
In your dream….
It all comes down to the inability to change or new way of thinking. No one dares to challenge the system. A lot of these politicians have self interest and short term vision
We need not only a powerful leadership but also group of people who needs to support the change
we need an entire united states system reset so that this corruption can be dealt with and laws need to be made after to ensure this hateful crap does not happen again
He says taxing the middle class? Oh local governments are doing plenty of that already.
Rich Man’s World
ruclips.net/video/yaBE-Oq4y2A/видео.html
If you're getting taxed it's because you're not rich enough, or not smart enough. It's EASY to hide money and assets if you have the right accountants and lawyers, so are you dumb or wannabe rich and just aren't?
Bottom line, they pay the taxes or someone else will start up a company doing the same thing here and we stop buying that product that screws our tax system .
Hi Lee and Paul! Just wanted to share that these crimes actually have become pretty common since the lockdowns three years ago. I've kept up with current events voraciously since March 2020. The "Why Me" question has an answer: This is the new norm until things change and we need to get more people, especially naive people to understand that. I live in a suburb of DC; I have been in DC and/or DC adjacent for 12 years and no longer go out at night. My neighborhood has severely deteriorated. It is not unusual for carjackings; gas siphoning; catalytic converter theft; and random gun assaults to occur. I wish there was a way for me to convey to both of you and your friends to understand that it has never been this bad in my lifetime (age 49). I was definitely worried about you and Paul in St. Louis. Used to love that place... just please get your friends to understand the world has changed and to look into current events for cities they are "nomading" in.
Its not just DC that crime is out of control, its happening all across the country. With more and more law enforcement budgets being cut, you will be on your own, buy and gun and learn how to protect yourself and your family.
Some of these agencies should be investigated, they might be committing fraud
There are 60,000 homeless in Los Angeles right this minute! how is 1,200 tiny homes going to help these people ?
I wonder if the CEO who said the WA income tax would cost his company $50,000 and that would stifle his business knows how absolutely stupid that claim is. $50,000 is what he pays just one, repeat just one, professional employee.
He’d have to lay that person off to pay the tax bill
Start taxing the Execs!
The huge state taxes in New York and California are driving people to move in flock to Florida and Texas.
My parents love 60 minutes news magazine
Can't tax us poor workers.we already have nothing
Corruption is the order of the day meanwhile we the people suffer.
I hope the law passes it’s about time everyone pitches in for their part
This originally aired in 2010
It is all greed with these people. $5000 a year is a drop in the bucket for the ultra rich millionairs. Oh so big corporation shouldn't pay into our school systems? This is wrong.
Yes and it's so ridiculous. You're probably aware that even people who choose not to have children pay school taxes and $5000 a year for one house is common. If the 1% who make the laws wanted the corporate tax rate changed, it would be changed. Since they're not paying massive amounts of taxes, they don't bother with it so they can pretend it's an issue in the media. It's smoke and mirrors.
Or the US heavily taxes ANYTHING made in another country by a company that is stationed in the United States
This is a mega amount of corruption. My God I cannot beleive this. Thank you 60 minutes.
YES!! LEAVE THE POOR ALONE!
Rich Man’s World
ruclips.net/video/yaBE-Oq4y2A/видео.html
There’s literally an entire prison industrial complex and militarized police forces specifically made for the poor.
Love the purple look Leslie! 25:55
All tax cuts to the rich cut? 1.3 trillion dollars to the deficit? 100 billion a month? Make the rich pay! They make me sick weasling out. Make them pay!
I'm so sick and tired of people whining about paying taxes. TAXES ARE HOW WE PAY FOR THE THINGS WE WANT AND INVEST IN OUR FUTURE!
I’m sure I would LOVE to pay the Swiss tax rate too. If only I had the money to “live and work” in Switzerland and enjoy the benefits of the US. These small countries are just poaching American money because they don’t have scale. Disgusting. Lol and that Cisco exec could use some of those profits to cover that combover.
The 2017 tax bill eliminated essentially the 2nd story. Through BEAT and GILTI, the profit shifting to lower tax countries is gone. Also cash is no longer parked overseas primarily for US tax reasons
Rich Man’s World
ruclips.net/video/yaBE-Oq4y2A/видео.html
Corporate taxes need to be equal between countries. We need to find another way to tax them for services and perhaps initiate a federal sales tax
We just need to get rid of all these complicated tax codes. The best way to tax any money that gets sent or received via any financial institutions that are recorded as like 10% each way. So I pay you $100, I get taxed $10 and you get taxed $10. Easy, done. Do it for wire transfers, deposits into stock brokerage accounts, credit cards, any recorded cash purchases or sales, and crypto exchanges.
Companies and rich people will naturally have more transfers so more taxes.
This explains a great deal.
I got a job, That I really LOVE, I am making more than I've ever made before. But now,... I payed for my income in taxes with almost
23% of everything I made claiming 0 and at the end of the year, I owed more, so They took it. I clamed myself at the end of the year
and I STILL OWE? How fair is that?
These companies will spend more to fight against their taxes a year, then what they would have to pay in taxes every year. Come on Americans.
Exactly. The price to purchase legislation is high, but it keeps their taxes low.
33:06 Just make it a requirement that politicians, once elected, have to liquidate their portfolios and buy only $QQQ, $SPY, and/or $DIA and they have to leave it there until they're out of office
Very good report,I love you guys
How old is this video? Bush tax cuts? What about Trump tax cuts.
Companies that move overseas. Limit the business they can do in the USA.
Normally as a conservative, I’d be opposed to t this, but when I heard it would be for education, I realize we need it…
Hmmm…I think there’s policy changes within the education system that would drastically improve it and not cost much.
Like removing the no fail policy at schools like my sister’s. She’s had only one kid come in the past month because the kids know they will pass the course even if they never show up or turn in a single assignment.
How can any Nation exist without paying its bills? I favor having a flat tax. Everyone paying a fair percentage of their income. Our infrastructure, to include roads, bridges and water works systems, is falling apart. The word 'Taxes' is not a cuss word. They are essential for maintaining a healthy lifestyle.
Personally, I think of the US government is really that concerned they should just cut spending as opposed to cutting taxes. If you are looking at getting rid of tax cuts and everything, perhaps US government people should stop spending so much on these programs which lots of people, including myself, don’t get to take advantage of. Only the people who are wealthy good to take advantage of the loopholes in the tax law and for me since I’m not rich, I don’t get to take advantage of those loopholes because I don’t know what they are and I don’t know how are use them.
Very simple message stop spending so much money on borrowing more to continue to spend. Then maybe we can get our deficit under control but it’s gonna take 50 years or 60 years to get this deficit down under $100 million which means that the people of today like me well long since be gone.
Our great grandchildren might benefit yes, spending cuts were made, but I never hear that from these people!
How do you fund government without taxes? The rich want to have there cake and eat it too
Rich people always threatening that it’s going to hurt their business and they pay more taxes but yet when they get a check for $14b year they’re not complaining
Someone should send a book explaining how a fiat currency works through MMT Economics.
Good ☔🌧️ Rain Ent LLC.
37:14 Pelosi's rage face xD
How do you tax-cut your way out of a deficit?
Join Congress not because you want to help people but because you want to benefit yourself
The problem in this country is everyone wants everything and pays nothing. When these people are old then they realized that it is always a balance of all things to rob from one and pay a hefty price for another. But the riches still need America to sell their products since no other in this world has major purchase power like Americans. We as Americans should boycott their products.
I live in Texas and we have surplus in our state with no state income tax…i would never live in a state that i have to pay state income tax it’s ridiculous
Then they'll stop. Less of what need. Why not quit spending?
What a shame that wealthy people dont want to help.
She is an amazing journalist.
Don't touch my Ebike
We’re still having trouble getting the richest people to pay their fair share of taxes. How many billions does one person need? GREED IS UGLY.
Can't complain about single digit income tax. It's mandatory here in Europe and in double digits.
Nothing is going to matter until everybody starves to death😂😂🤣
The taxpayers know we have the best politicians that money can buy and they sure as he'll don't surve WE THE PEOPLE
NEVER REWARD SIN!!!!!!!!!!!!!!! AND LIVE AND TEACH ONLY TRUTH!!!!!!!!!!!! ALLTRUTH
Social security is not an entitlement for seniors....we put into that. It's an entitlement for the young
shame on this people, shame, shame
9:20. Getting your car washed by a mobile business is exorbitant spending for a government?? This is a man with very few examples on the subject.
Yea that low tax rate would work just as well as the stupidA$$ trickle down deal and look how bad that turned out
13:54 $60B of money to be possibly taxed versus a $1T deficit. It just proves the gov't has a spending problem.
27:09 and none of them have debt like us
The social security/Medicare tax needs the cap removed
This originally aired in 2010, approaching 13 years ago.
She's exactly right
Why is it never cut government funding? Downsize? Consolidate?
Really really en pointe why American politics are not workong!🔥🔥🔥
Why doesn't the police arrest them and put them jail
Years later, it still hasn't changed. In fact, Nancy Pelosi said they shouldn't have to change the rules.
400k is not "rich". These measures always fail because they draw the line incorrectly. Tax income and capital gains over $1B at 90%, there you go.
If lowest corporate tax is the only competitive advantage as a country, I'd advice the governmanet of that country to diversify since low tax rates are easily copied. Low corporate taxes in Ireland is controversial here in Europe because other EU countries are projecting an emulation of this strategy. It's a race to the bottom which isn't favorable for citizens in times of war, insecurity and a renewal of cold war tactics.
Once your income reaches One Million, no more tax!!!!!!!!!!!
FEDERALLY, STATES AND LOCOL.
The American Flag Act , would be just like prop 1098,except this about whether you’re really an American citizen or not, and pay your taxes properly
I'm glad you guys uploaded this, but at the same time, your posting info that's 10 years old?!
Talk about being a "Day late & a dollar short"..
Any company that inverts in this way should be excluded from American markets.
Keep showing this…
Thanks for looking for me. I just can't bear any more. Because of tax evasion, tax shelters, predatory businesses AND policies, in rhe past 50 years this country has come to stink to high heaven with high-falutin justification s for INORDINATE greed and selfishness. It is already on its way down the sewer (sorry working poor) to its rightful end as waste. Such a high degree of moral imbalance and indecency cannot possibly sustain a healthy social organism like a state or country.
Good for him. That is a healthy attitude. And an honest one.!!!~!
CUT INTRESST RIGHTS
CUT STOCKMARKET INTRESST RIGHTS
Unbelievable system.
When you see politicians and conservatives talk about lost revenue from business leaving or how the rich need motivation to keep innovating just let it sink in the city of Rotterdam in the Netherlands almost considered taking apart historic bridge just so Bezos could move his $500M superyacht through. "Rotterdam now won't dismantle the Koningshaven Bridge for Jeff Bezos's boat. After backlash, the ship's builder Oceano decided to not move forward with a request to alter the bridge to sail the yacht" Only after the "peasants" revolted did they change their mind. As if we need any more reminders the old world nobility haven't gone anywhere in this world of "Meritocracy".
The tax haven situation is a race to the bottom. The solution that I see would be for all countries to get together and charge the same tax rate. We couldn't even get together on a pandemic, so I have no hope.
That's not possible because not all economic systems are created equal.
My question is between broke and rich , where is that line really actually drawn at ?
That the reason we interview with them now. Or why we pop up to see them
What is the point of being rich unless you can spend more money on a weekend then other people make in a lifetime?
Oregon has the highest income tax, because we have no sales tax. While l am not too naive too believe that he is definitely benefiting under the table in some form, Phil Knight has at least made Nike the headquarters in Beaverton.
When you can't manage money and pi$$ it away on stupid things, no amount will ever be enough. You don't add memory to a computer because an application has a memory leak. It'll just eat up that memory too. You FIX THE LEAK.