Every Type of Tax Explained

[@iammrbeat]

What is your favorite type of tax? Thanks to this video's sponsor, Mech Arena! Install Mech Arena for Free 🤖 IOS/ANDROID: clcr.me/MrBeat_MA_Aug and get a special starter pack 💥 Available only for the next 30 days. Here is the music I used for this video: trashplanetgame.bandcamp.com/album/trash-planet-ost Thanks Adrian!

[@raghav3558]

Weed tax

[@jacobstopper3804]

Hello Mr. Beat

[@mapk1516]

Land Value Tax! Where my fellow Georgists at?

[@theinfamoust4670]

My favorite tax is the one I don't have to pay.

[@ThunderTheBlackShadowKitty]

Progressive income tax rate, top rate over 33.3% including a VAT on wall street. I'd choose to have this tax fund a UBI welfare program.

[@pagansbasin6657]

Would you mind making a follow up video about every type of tax evasion and how to do it? Asking for a friend :)

[@raghav3558]

;)

[@iammrbeat]

Looking into tax evasion for myself first, and I suppose I might as well turn it into a video. 😄

[@nicolasjohnson9436]

@@iammrbeat It would be very interesting to hear an explanation of offshore tax havens in a future video

[@docb77]

Tax evasion is illegal, but you might look into tax avoidance

[@jacoballey21]

When you realize mr beat is ripped af 8:31

[@jerkerhernback9558]

I have an idea. You should do a series talking about every major Economic Depression, Ressecion or Panic in US history.

[@iammrbeat]

I actually have it on my list of potential videos already!

[@jerkerhernback9558]

@@iammrbeat OMG. You actually replied. Love your videos. Are you planning to make an update Presidents tier list anytime soon?

[@abrahamlincoln937]

@@jerkerhernback9558 Mr. Beat did an updated presidential tier list with Vlogging through History on Presidents Day 2022. kzbin.info/www/bejne/i3K4mGmvZ7qLbpo

[@jankellgren5621]

Det kunde vara rätt trevligt

[@jankellgren5621]

Finns en ständig panik i amerikanska förenta staterna. Den får vi se sista akten på i det närmaste. Romarrikets fall i en modern variant.

[@russelldavis1359]

Ahh nothing more nerdy than discussing taxes and being excited by it

[@iammrbeat]

NERDS UNITE

[@ShayNoMore1]

We maybe be nerds But at least we re the most intelligent people ever😎

[@humanchannel7825]

@@ShayNoMore1 you think you are

[@slowgaze198]

UNITE

[@jaguarmemez]

@@ShayNoMore1cap

[@mapk1516]

Ayy I was just about to comment about the Single Land Value Tax, then I reached the end of your video and I'm now hyped for a Mr. beat video on Georgism. Another great video Mr. Beat!

[@candycigadddict]

Yes! I am looking forward to it. Idk if there is any other tax that is widely supported by economists, from Milton Friedman to Paul Krugman.

[@iammrbeat]

ha! Well now I am more motivated to make the video. :)

[@francisluglio6611]

@@iammrbeat Please make the video. I've been fighting hard to make the case but no one cares to see the advantages

[@aaronmorton5427]

I knew the moment i saw this video that whether or not he mentioned land value tax, the first comment was gonna be some georgist mentioning it

[@guffalump756]

@@iammrbeat I'd hate to say it, but I'm in the same boat too. You somehow got me excited to learn about taxes. I am now also hyped to see a vid on Georgism

[@cynthiasimpson931]

Some years back my husband and I got a letter from the IRS stating that we were 9 cents short in the taxes that we'd paid. They said that because the total shortfall was less than 10 cents payment was being waived. Since it cost them at least $1 to mail us that statement, we wondered why they even bothered to notify us. But it was the IRS. Go figure.

[@NicholasFadow-o4q]

hahahahaha😂😂😂😂😂😂

[@notchuckproductions5029]

It also sucks that companies like Turbo Tax and HR Block lobbied congress to make flying taxes easier illegal, similar to how many countries in Europe do it. There they just send you a bill straight up telling you how much you owe, and you just have to mail it back with a check. Instead of you having to either figure it your self or pay someone else too do it for you.

[@iammrbeat]

I honestly need to learn more about this.

[@notchuckproductions5029]

@@iammrbeat I could be remembering it wrong , and missing details but this was a real case

[@finnl6887]

I personally don't get why this was a big deal. Filing taxes isn't actually that hard, your tax forms are essentially step by step instructions on what to fill out and how. If you can read basic English and can count you can do it. That and filing myself is how I notify them of info they can get what I owe reduced.

[@HenryA.Wallace]

*Jeff Bezos:* What are these "taxes" you speak of?

[@iammrbeat]

His income last year was $81,840. 😬

[@ShayNoMore1]

@@iammrbeat last year or last minute?

[@ryanmcfall1127]

@@iammrbeat Seems legit

[@alexsayshi6782]

@@iammrbeat the reason why he pays less because most of his wealth is in shares of amazon

[@JoseRodriguez-pn8yj]

@@alexsayshi6782 Meaning, he owns Capital, which isn’t taxed, ProPublica exposed why exactly rich people are rich

[@Heathshizzle]

What about the fanum tax

[@CollinShook]

@@Heathshizzle you only pay those in Ohio, I hear

[@hannahevelyn9084]

Investing in Bitcoin now should be in every wise individuals list in few months time you will be escatic with the decision you made today

[@roychin5504]

Most intelligent words I have heard today 🥂

[@twsted5731]

Trading Bitcoin has become a lucrative way to make money

[@danielsvaughn255]

Seems the Crypto market has overtaken stocks in the current bull run

[@williamsjayden7946]

Stocks are good but Crypto is better. I swapped to crypto and it's more profitable

[@daxtoncase9044]

@@williamsjayden7946 wow that's called diversifying in portfolio

[@sexygeek8996]

My favorite taxes are the ones that other people pay but I don't. In my case that's excise taxes on cigarettes and liquor.

[@iammrbeat]

ha! Well put actually

[@tomfrazier1103]

Like that $15- pack of Luckies?

[@Talonidas7403]

Yea!

[@tomfrazier1103]

@@Talonidas7403 Any relation to Michael or Dave Villa? Descended of Rafael de Villavicencio?

[@Talonidas7403]

@@tomfrazier1103 no

[@StateoftheWorld]

The best kind of tax is evasion 😎

[@iammrbeat]

Oh snap. Wesley Snipes, is that you?

[@StateoftheWorld]

@@iammrbeat no I am State of the World and I endorse tax evasion

[@yourfbiagent6483]

Based.

[@PakBallandSami]

STOP

[@LobotomizeCommies10]

BASED!

[@Compucles]

The Joker: I'm crazy enough to take on Batman, but the IRS? No, thank you!

[@sirlyndon52]

If this video was about Taxes in Turkey, this video would be at least 12 hours long.

[@henryconklin6550]

Now I’m curious…

[@iammrbeat]

I had no idea, Turkey!

[@matty6244]

Don't forget Argentina, we have like 200 taxes :p To get a package from other country I had to pay like 5 different taxes xmx

[@zyanego3170]

Türkiye numba one!!!!11

[@Randomguydrm]

Dont get me Started on German Tax Law. Its so confusing its a Tax Haven If you do the right Things.

[@ytchip21]

Didn't realize my favorite KZbin teacher was so buff 💪🏻08:36

[@theinfamoust4670]

You forgot the ever awful, "means and use" tax. Where you pay taxes on your equipment that you use to keep your business running.

[@iammrbeat]

That's probably the worst one! I think it's fairly rare, thankfully.

[@octoberboiy]

Is that outside the US? We get tax breaks for business purchases.

[@EarlHayward]

That is called a "business personal property tax" and most States exempt the first $X dollars, which in my State was the first $100k...

[@sjoncb]

Berkshire paid over $5 billion in federal taxes last year. “And if 800 other companies had done the same thing, no other person in the United states would have had to pay a dime,” - Warren Buffett May 4, 2024

[@bochuanzhang6130]

Mr. Beat just made this video to cover the cost of that IRS check

[@iammrbeat]

THIS IS TRUE

[@skeletonkeysproductionskp]

Wooooooiiii, can't wait for the Henry George video, Land Value Tax is the one!!! Did my dissertation on it and is on my political To Do List!

[@iammrbeat]

I may have to read your dissertation. Seriously, is there any way you can email it to me? I will give you credit, of course.

[@shad0wyboi440]

mr. breast give me money

[@JoshuaJCrawford]

I thought when people said Mr. BEAST they were talking about you but pronouncing it wrong lol.

[@iammrbeat]

See, you know what's up. :D

[@usmanusman-lv2hy]

Mr. Beat is going to regret being sponsored by a video game when his students are caught playing & they use the fact that he got sponsored by them.

[@VagabondRetro]

Taxes. One of the few things that can simultaneously unite us and divide so sharply.

[@jacnel]

I just wanted to add that here in Canada we deal with the regressive nature of excise and sales taxes by providing a tax refund equal to the average amount of tax collected from those in lower income groups. It works fairly well I’d say, and is calculated and paid out automatically once someone files.

[@elwinowen5469]

I suppose so, but note also that a lot of low-income Canadians don't file their tax returns (because they don't earn enough to pay income tax), but that also means they miss out on refundable tax credits. I would personally like to see Canada implement a return-free tax system like they have in much of Europe and other places so that these people don't fall through the cracks.

[@Gloorb]

mr breast give me money

[@stoll7017]

Make one talking about how to fraud each one of them too pls (asking for a friend)

[@raghav3558]

Stolen comment lol

[@stoll7017]

@@raghav3558 I'd never go so low as to steal the comment of someone else

[@iammrbeat]

I need to do some "research" first for the video. 😄

[@DanielGalimidi]

Oh, Argentina's wealth tax was mentioned! I live there and get to explain it! This wealth tax was introduced last year and passed this year as a measure to finance government expenditures aimed at battling COVID-19. Those expenditures include things like buying vaccines, investing on labs that can make vaccines in the country, etc. This tax was progressive and only for the wealthy, as in only people with a net worth of over 200 million pesos would have to pay it, which was equivalent to 2 million US dollars back then, and supposed to be an emergency measure. Supposedly, it's a one time thing, but we'll just have to wait and see if the government tries to make it permanent.

[@iammrbeat]

Thanks for sharing that Daniel!

[@TheVortexGaming]

Isn’t there a famous quote that goes something along the lines of “there is nothing more permanent than a temporary government program” haha

[@sunshineimperials1600]

@@TheVortexGaming The federal income tax was originally temporary. The government is too large and inefficient, which is why the federal government should be much smaller and made more budget efficient. The Armed Forces absolutely do not need a $600 billion dollar budget, and thus needs to be decreased heavily.

[@peixeserra9116]

@@sunshineimperials1600 That's a topic I find very interesting, specially as I have a big distaste for American Imperialism and the Military Industrial Complex. However there is a logic to that madness. 600 billion dollars yearly purely for defense is complete utter overkill, that's for sure. However, 600 billion dollars that are used to generate American jobs, maintain technology development inside the US as much as possible, and protect American interests abroad, even at the expense of other countries at times. Then you start seeing the method behind the DoD's madness. Not that it makes it necessarily right.

[@senatrahm5215]

mr breast give me money

[@meow-qh2qs]

mr breast give me money

[@jackelewish1568]

I know this is a tiny mistake and no one (or almost no one) noticed but @ 6:47 on the right the total price of the hat would be $10.79 not $10.80 after you add the tax.

[@zsomborszeles5684]

mr breast give me money

[@officialdjinnx4756]

The LVT/Single tax is the best tax. Or as Milton Friedman would put it, "The least bad tax."

[@iammrbeat]

haha both right and left leaning economists seem to dig the single use tax

[@graysonallen5410]

Income tax is a joke

[@Seth9809]

It sounds like a worse property tax?

[@TheCantoneseInvestor]

@@Seth9809 No, it excludes the improvements on the land (e.g. a huge office or skyscraper or whatever), and so it does not discourage productive use of land, but it curbs land-banking/hoarding/speculations which drives up property price.

[@realjrq]

@@TheCantoneseInvestor (I’m right-wing) Doesn’t the current property tax seem more useful since it raises revenue?

[@Soruk42]

Some American tourists seem to think we have no sales tax in the UK because when they see a piece of souvenir tat going for £9.99 and take it to the checkout, £9.99 is all they pay. Far from it, most items here have a VAT rate of 20% (though some things attract a lower 5% rate and others a 0% rate including most food items), it's just we do VAT-inclusive pricing so the price you see is the price you pay so there are no nasty surprises at the checkout. (I've been there, was visiting USA as a kid, had a $10 bill, yet my friend had to bail me out because something costing $9.99 couldn't be paid for entirely by that $10. I was hopelessly confused.)

[@bkdmode]

Mr. Beat, could you make a video in which you rank taxes based on effectiveness? You could compare and contrast between the stated purpose or goal of a tax when it was initially passed vs the actual impact of a tax after it has been implemented; in other words, does the tax actually do what proponents said it would when it was proposed and passed?

[@shilpadesai8031]

I learnt more about real life and practicality in this one video than I have in school. LoL

[@iammrbeat]

Your comment means a lot!

[@StayFreshMyFriends]

GEORGISTS RISE UP

[@iammrbeat]

I knew many would be here. :)

[@joebarrera334]

Was about to throw a fit about the omission of LVT. Looking forward to that video!

[@FlatoutBeatZ]

mr breast give me money

[@abel___]

The LVT and Pigouvian Taxes are the best 👍👍

[@EarlHayward]

Only if you want to see high density buildings with small footprints.

[@PakBallandSami]

ahh yes taxes ancaps worst nightmare

[@taxslave5906]

Yes. Absolutely.

[@victorpamplona3744]

I am in favour of none consumption taxes (except the sin taxes), but in favour of a Wealth Tax, Progressive Income Taxes (the 10% Most Poor paying nothing and the 10% Most Rich payung around 40-45%), having low Corporate Taxes (microbusiness and self-employed guys paying none to small business paying 5-10%, medium sized business paying around 10-15% and big-sized business paying around 20-25%, however a huge increase for corporations to around 30-35% or even 40%), progressive property taxes pf course and a estate tax and their variations seems pretty reasonable, and no tariffs of course.

[@lukeporras1288]

You forgot 1 basic kind of tax: the poll tax, also known as a head tax. It’s basically where each person has to pay a fixed tax, say $200 a year per person, regardless of wealth, income, property, etc. It’s not used very commonly anymore, but it used to be one of the main methods of taxation.

[@d.rey5743]

mr breast give me money

[@yuhboijosiah8083]

0:26 Petition to change the channel from mrbeat to mrbased

[@iammrbeat]

lol maybe that will help people not get as confused between the difference between us

[@chrispreston256]

Simply stop being a taxpayer to avoid income tax.

[@anonharingenamn]

Estate tax is easy to work around at times and really silly when used on working class people. Here in Europe there are high taxes in on estates, even if we’re talking about a $100k home. Kinda the same with inheritance tax.

[@objectivelycorrect8338]

Land value single tax is the best 👍🏻❤️

[@iammrbeat]

You know what's up.

[@objectivelycorrect8338]

@@iammrbeat yea😎

[@mauriceschmetzer1925]

Awesome video! :) Could you make a video comparing the average taxes people pay in different countries?

[@iammrbeat]

Holy crap...Great suggestion!

[@noahburns6042]

18:53 - thank you for that summary, it simplifies the whole process into 3 manageable chunks, greatly appreciated!

[@traviswadkins426]

My least hated taxes are sales taxes. It’s the only one that can be somewhat avoided

[@DougVandegrift]

So basically ANY and ALL forms of money exchange is taxed. gift, income, sales, gains. All of it. Kind of sickening.

[@MagicjavaGames]

Can anyone explain to me by VAT doesn’t encourage vertical integration? Wouldn’t that get you around a bunch of VAT?

[@lb2791]

It's not thal well explained in the video, so I had to google it after watching. Apparently, the tax is a fixed percentage of the price of the finished good and is distributed along the production chain. So if everything is done by the same company, it will just pay the whole tax, while a production chain distributed among a couple companies will mean the amount is divided among all those companies.

[@EarlHayward]

Here is my two cents as an economist/public accountant... I think the VAT would be best described as a system to prevent tax evasion as the tax attaches to every item in a supply chain, increases the timing of tax collections rather than deferring until the end user purchase, and provides a better audit trail for the government. That was the objective, the impact on vertical supply chains was the consequence. However, it could be argued it is an additional burden as the remittance of tax collected is reduced by tax paid on materials integrated into resale products, and depending on the reporting requirements could be complicated and time consuming... Sales tax is only collected on the product when sold to the end user for consumption. However, most sales taxes are part of an broader "transaction tax" as "sales tax" implies goods, but services are taxed in many jurisdictions at the same, or reduced, rate.

[@evmcmunn]

I don't know why the IRS can't just block certain companies' business licenses(like Amazon) until they pay the tax they would need to pay if they were based in the US.

[@oneofus6924]

probably because the people in charge of instituting such change are so compromised in their wealth and assets tied to those same companies. which is why we also don't have a law forbidding the politicians trading on the stock market even though they are directly effecting the value of said stocks. shit sandwich topped with more shit.

[@Fred-t2w]

Politics.

[@user-bc7cb8uu7e]

I think the estate tax is the best one. Not only will I never see it effect the money I earn, but it also discourages hoarding your money until you die. It doesn't punish me for being rich, making money or investing that money, and it encourages me to put money into the economy rather than giving it all to a child who did nothing for it but get lucky. I don't see what could be better.

[@itstherealbrace6424]

It should be everyone's goal for their children to have a better life than them, the Estate Tax is just the government unnecessarily stealing money from my children

[@user-bc7cb8uu7e]

@@itstherealbrace6424 what kind of taxation would you prefer?

[@itstherealbrace6424]

@@user-bc7cb8uu7e consumption taxes, along with a land value tax

[@Destroyer11204]

​@@user-bc7cb8uu7e no taxes is what i would propose.

[@jbthestoner5504]

I'm poor and have no assets, but also surprisingly have no debt, so my net worth is close to nothing 🙂

[@formeruspresidentharrystru9240]

You’re quite wise coming over here to Missouri for gas, Mr. Beat.

[@shannonbeat]

That’s what we Kansans do when we get the chance!

[@iammrbeat]

Oh Harry, you know all of us Kansans near the border do it. :)

[@formeruspresidentharrystru9240]

@@iammrbeat I’ve seen it happen quite a bit.

[@abarbar06]

LAND VALUE TAX ALL THE WAY!! Add to that "pigovian taxes" on things like pollution

[@barbarahilton4080]

*Investing in crypto is the best way to earn financial freedom*

[@iammrbeat]

I can't tell if you are a real person or not. lol

[@janethoward5833]

This is the kind of information that we don’t get from most youtubers..

[@joshanderson7551]

Count me in, I’m placing my trades with Expert Michael Wayne ASAP

[@philipjackson5671]

@Hayley Forbs How do I get connected into this system

[@evanssilver5965]

Bitcoin is my finance present and future investment, the wisest decision have done to diversify portfolio

[@docb77]

Property and wealth taxes are the most immoral. If it's you're property, but you have to pay someone to keep it, it's not really yours now is it. Property rights should actually mean something.

[@GiRR007]

The best kind of tax is NO tax ;)

[@scottanos9981]

NEET master race

[@HistoryNerd808]

My view on taxes is Calvin Coolidge's: "Collecting more taxes than is absolutely necessary is legalized robbery." I'm super conservative on economics.

[@ricardobarahona3939]

What’s debatable is what is “absolutely necessary”. It’s he US seems pretty backwards when it doesn’t even have a universal healthcare system and spends way to much on defense spending that’s benefits aren’t helping a majority of Americans. Also one can debate it it’s necessary to help vulnerable populations with social security as some want to expand it while others want to cut parts of it.

[@iammrbeat]

I mean, I wouldn't call myself "super conservative on economics," but I agree wholeheartedly with Coolidge's statement.

[@sebastianc5155]

legal extortion would be a better way to describe it

[@HistoryNerd808]

@@ricardobarahona3939 That's fair. I'm pretty far right on fiscal grounds, even by American standards but it's true that Cal was a bit vague there. I take a very limited view on what and how much government should be spending. Got to get the debt under control and that means we have to cut spending on entitlement programs because it's by far the biggest chunk of the budget. But that's not politically popular for obvious reasons so I don't see it happening anytime soon.

[@HistoryNerd808]

@@sebastianc5155 Tomato, tomahto. Extortion, robbery, both are crimes.

[@henryalexander7325]

I heard the name of the sponsored game and immediately my brain started going "One mecha, Two Mecha, Three Mech Arena" to the tune of Macarena

[@wildbill7267]

Property tax is the biggest racket. You have to pony up regardless of how much income you made. Lot your job? Tough! House burned down? Tough! It’s like that Goodfellas scene “F U, pay me”.

[@josephvarno5623]

Small correction on property tax. It is nominally based on the value of your property. While politicians talk about a bond or program costing X dollars per $100,000 of value, the calculation is a bit more complex. Every town, township, county, and state are broken up into a series of taxing districts. The taxing agency knows how much money they expect to get out of an area. Now, within that district, each property is assigned a percentage of that expected take based on valuation. for an example, taxing body A expects to get $500 from Area B which contains 10 properties. Those 10 properties represents $1,000,000 in valuation. Property C is worth $250,000 and Property D is worth $50,000. **BEWARE BEYOND THIS POINT LIES MATH** So, Property C, being 25% of the total valuation of the area would pay $125 Property D, being 5% of the total valuation of the area would pay $25 That means if everyone in that taxing area sees their property values go up by the same amount, the tax is unchanged (in the extremely unlikely case that the take remains unchanged). Likewise, if all properties go down in value (see 2008 housing crash for example) the tax rates are unchanged. The only way your property taxes go up or down based on your property changes valuation is if everyone else gets or loses value at a different rate. If you put in major upgrades to your property and it increases your value 30% while your neighbors put that off for a few years, you pay more taxes. If your house falls into disrepair and everyone else around you keep s theirs up, your taxes go down but your neighbors hate you a little more. Many people don't understand this as is shown whenever a tax increase for building bonds goes through where the politicians talk about the measure will only increase your taxes by $35 a year per $100,000 of value. If you go to the first meeting after the tax increases go into effect, there is a line of really angry homeowners complaining about it not being the $35 per $100,000 promised.

[@EarlHayward]

Small correction (edited to add - this is for United States)... You state "The only way your property taxes go up or down based on your property changes valuation is if everyone else gets or loses value" ... Which would only be true if all other variables are unchanged, except for valuation, and there was no assessment rate. The reason for this is that you are not making a distinction between assessed valuation and total valuation; nor, property tax limitations in which the State pays the difference to the county to cover the gap between amounts levied subject to the limit and the actual levy amount needed... Examples that would not hold true include (also assuming no changed in jurisdiction size): (1) Everyone's valuation remained unchanged or is changed by the same ten percent, regardless of direction, but commercial assessment rate decreased; result would be an increase in property tax for non-commercial properties. The assessment rate is better explained as the "burden" allocation rate, where different types of properties have a larger or smaller share of the overall property tax in relation to others. (2) There is a limit on total amount a school district can levy as a percent of assessed valuation, due to funding requirements per student before adjustments. For instance, the State covered 20% of the amount last year of that $500. This year, valuations for every property increased 10%; result would be everyone's property tax increased slightly less than 10% and the State share decreased. Many States have a per student funding requirement so all districts, regardless of wealth, received the same amount of based funding per student (adjustments exist for types of students, like special education which changes the adjusted student count/funding from the base). This is the one that results in large increases in a subsequent year when valuations increase, but the limit is not adjusted - it is not that the school district needed more money, it is just that part of the burden allocation shifted back to the local property owners from the State.

[@sarahtonin8144]

Some investors look to their investments as a source of income while others use it is a means to grow or preserve their wealth.

[@nicoleonard1093]

The Crypto market has proved to be profitable over time but it all depends on your choice of investment. Investing wrongly might have you ending up with losses and no one wants that.

[@steceymorgan814]

It's always for Crypto investors to venture into trading because it is only by trading Cryptos investors can survive bearish periods.

[@mav3420]

I think Bitcoin is moving to the next level, it's a wise decision to buy and trade Bitcoin,you can't afford to miss out.

[@jamessydney3022]

Apparently that's true,I agree but it can also be disastrous for newbies or anyone who doesn't adhere to a well thought-out strategy and over all,a professional broker.

[@sophiastuart4016]

Believe me friends, I used to lose so much trading till was introduced to Mrs Miriam strategy. Now after 16 days, I've made $7,900 and feel confident of making more in the coming months. Thank you Mrs Miriam for guiding me

[@ryleeroseborough7885]

People are weak these days. I remember a time when someone would start a revolution over some taxes on tea. Now we’re fine with taxes on coffee instead

[@TheJrpacman]

But now, we have representation to go along with that taxation

[@oopsiepoopsie2898]

I don’t get these taxes are theft people. Would they say paying into a country club, Walmart memberships, or union dues is theft?

[@iammrbeat]

Taxes need a rebranding

[@moore9793]

@@iammrbeat "Society club membership fees"

[@objectivelycorrect8338]

Theft is the involuntary confiscation of someone's money. Taxes are theft by that definition. Memberships fees are voluntary transactions, you pay to use the service. Thus they are not theft. Glad I could clear that up.

[@oopsiepoopsie2898]

@@objectivelycorrect8338 that’s great renounce your citizenship in that case

[@objectivelycorrect8338]

@@oopsiepoopsie2898 "oh you were raped? Great get rid of your genetalia if that's the case"

[@ELUnderwood]

Land Value taxes would help solve the problem of artificially low property taxes that cannot adequately fund communities. The thing is its really hard to actually have an effective LVT rate because of how progressive the tax is compared to other forms of taxation especially the income tax and consumption taxes.

[@bobbyfartz5591]

Plus it’d also hurt all of the farmers who own a ton of land

[@kennyobi9871]

@@bobbyfartz5591no it wouldn’t. Land value tax only affects those who owns lots of valuable land. Meaning land in a big city will be taxes more than land in the country side. Farmers won’t be taxes nearly as much as land lords or real estate companies.

[@Deknis]

Helps you understand why the rich use any and every loophole to get out of paying taxes. All these different taxes are ridiculous. Especially when I feel a lot of it is being wasted which is something everybody can relate to. 😂

[@michaelreynolds8204]

Great video! So sad the complexity of taxes help the rich with lawyers get around the systems

[@hawks9142]

I honestly don't mind taxes, they fall short in alot of places but I'm ok with them I suppose. I'd love though if the IRS TOLD me what I owed, and showed how they got there, instead of making me file. I guarantee there's some smart reason its not like that but man I'd love it if I didn't have to worry if I did math wrong and they come to break my knees

[@maltava4534]

Ideally an excise tax should be used to mitigate the harm from an externalized cost that has been foisted upon society. A good example is tobacco. It causes health problems but the tobacco companies do not pay for most of the damage caused by this. An excise tax not only reduces the use of the harmful item but places the cost of the harm of that item on the purchaser of it. This should also be applied to things for other negative effects like pollution, drunk driving accidents, and addiction. This tax not only places the burden on those causing it but also changes the behavior of people to cause less harm to begin with. Very efficient.

[@justjason7662]

My favorite kind of tax is a tax on consumption rather than on earnings and possessed wealth. Grant the lowest income their tax break to make it work… it’s the most fair system. Billionaire buys a yacht, he pays out the nose for it. Poor man buys a Toyota, he pays a little bit for it. Dont want to pay taxes? Control your spending. Of course no tax on food, clothing, medical items (including hygiene).

[@maiqtheliar8318]

Henry George and Land Value Tax = Based The world needs more Georgism

[@CoolMan-ig1ol]

Land value taxes have a downside too. A retired couple who bought a good house in suburbs for retirement, could not pay more taxes as the value of houses rise, but income is zero.

[@maiqtheliar8318]

@@CoolMan-ig1ol You’re describing property tax. Land value tax only taxes the land, not the property that stands on top of it.

[@iammrbeat]

So many seem to dig Georgism. It's really quite amazing.

[@johnjones3813]

Libertarians hate taxes, then take for granted all the things taxes pay for, it's just incredible.

[@panpiper]

I am NOT in favor of a "wealth tax", as that is literally a tax on capital, which is the seed grain for the economy. The more capital invested in an economy, the more growth you have in that economy. If you are taxing capital, you are destroying the very thing that generates the revenue you so covet.

[@Ry_TSG]

The problem is that the wealthy are not using that money in the way you describe. Rather, they are hoarding it and spending it on stupid shit. So, they should pay a tax on being so absurdly wealthy.

[@user-jg6xu1kk1i]

The best type of tax is GOVERNMENT SHOULD LEARN TO LIVE WITHIN ITS MEANS.

[@ptutankhamen]

Good video. Always kind of wanted to know about all the different types of taxes.

[@iammrbeat]

Thank you Paul. Me too 😆

[@username65585]

You forgot pigovian taxes.

[@iammrbeat]

Fascinating stuff

[@boosterh1113]

A Pigovian Tax is just a fancy name for a Sin Tax, and he did mention those, at least in passing.

[@sarminder4357]

Surprised that people in the US have to file their own income taxes. Many countries have the employer do that for them. Now I know why so many of them sound so tired whenever they need to pay their income taxes.

[@moblinmajorgeneral]

It's because companies popped up that make money off of people who don't have the time or can't be assed to do it themselves.

[@zacharyroussie4746]

@@moblinmajorgeneral And said companies regularly lobby the gov't to keep it difficult/not allow employers to do it so they don't lose their business.

[@exhaustguy]

In the US we also have a depressingly large amount of people who have two or more employers in which none pay anything for health benefits. Which employer does the taxes and, if both, how are the deductions and change in marginal tax rates handled?

[@LeviathanFoundation]

I think the VAT is reasonable where people are taxed for selling or selling goods however taxing what you have I would believe is theft taking another persons belongings. an income i am neutral on but it would be nice to run the country on Consumer taxes. I do not believe in exercise/gift taxes there while yes the person didn't earn the money it was intended as a gift to leave someone after there gone. its not morally right. Also if the country runs of consumer taxes when it comes to buying/selling and even service taxes. people may not notice the tax considering that it would be added to the prices of goods and services and people would have a lot more money to spend. we do not need corporations running away. from the country the tax would also need to be small. somewhere under 15% where its not noticeable. it also need to be a flat rate tax. so people get used to it if the economy grows fast enough the taxes will not need to be raised to increase it it would just grow on its own. a tax return for companies that produce goods and services for the government/nation could also encourage development here in the nation. another thing that can help is to reduce regulations to make it easier to start and do Business in America but not so much it harms the environment. Creating an equal opportunity to make the life one wants for themselves. by running the country on consumption rather than earnings and possessions. while many people want those taxes for the wealthy i do not think its okay to effectively punish someone because they do better than someone else specially seeing how part of the reason why the common person has a pay is because of those people having the money to own and maintain the jobs that people work. I don't think its ok to take from earnings and possessions. consumer taxes on goods and services however it would take from the overflow of trade which would pick up as people have more money to afford to get more goods and services. it would also in my opinion would not be as noticeable seeing how prices of good and services fluctuate a lot on there own.

[@mathilda6588]

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[@johannaschmidt7138]

WOW....amazing to see someone who trades with Mrs Catherine nathan, i am currently on my 7th trade with her and my portfolio has grown tremendously.

[@philipmason5190]

i invest with Mrs catherine too , she charge a 15% commission on profit made after every trading session which is fair compare to the effort she put in to make huge profit…...

[@mathilda6588]

@Kristirene Sheldon **she can be liaised ,on Telegam,with the username @INVESTWITHNATHAN.

[@margaretmyles6683]

Trading alone is quite risky , i have lost a lot trading for myself but made massive turnover of my fortunes since i started with Mrs nathan,she is the best..

[@mikey-bigg4486]

My first investment with Catherine Nathan gave me the assurance that has made me invest without the fear of losing, I got 3 of my friends into her guidance already...

[@automaticmattywhack1470]

I couldn't tell if his "woohoo" was genuine or sarcastic. Since he's a teacher, I'm assuming that property taxes pay his salary, but every one I know hates property taxes the most cuz the valuations are always 10-30% higher than the actual value where I come from. Not far from where Mr Beat lives.

[@abelromero8967]

This is so interesting to me! In New Mexico the state funds schools operational budget via a formula. It's helpful, but districts still need to use bonds (paid by property taxes) for capital projects, so poor/small districts still struggle on that side of things.

[@jefferyduplessis1577]

Property taxes should not be used for schools.

[@oppenheimerfaaaaaan5547]

So you think our kids should be dumb?

[@jonahmamers3555]

@@oppenheimerfaaaaaan5547 lmao they barely teach anything of value

[@electronium6378]

American school system moment

[@iammrbeat]

I hear you, but where else should they get the funding from?

[@TheCantoneseInvestor]

Looks like we’re witnessing the 🔰landpilling 🔰 of Mr. Beast.

[@mlu007]

The U.S. taxes its citizens who live abroad. The only other country to do that is Eritrea.

[@northernlight1000]

Damn... the gas station part, When are you going to give us that arm workout tutorial, didn’t know you were so jacked 💪

[@gunterdapenguin5896]

What's the most ridiculous or useless tax in your opinion (random person in the comments)? My opinion: the California exit tax is the most ridiculous and funny and should not be there

[@euanlaing9619]

In the UK the allowance we get before taxes is £12,499. It should be £25,000 if you asked

[@TribalGlobe]

A right is an action which is inherently not wrong because it does not violate the rights and consent of another. Sex with consent - a right, sex without, a violation. Fighting someone with consent is also a right, whereas attacking someone without their consent is not a right. etc. Government derives isn't authority from the consent of the governed. If the governed do not have a right to do something, they do not have the right to delegate that wrongful action. If I have what I think of as an amazing a noble idea, I do not have the right to take a portion of my neighbours income, without their consent, no matter how good an idea I think it is. Nor do I have the right to delegate that action to a public servant. If we are to claim to live in a civilized society, we cannot be basing that society on uncivilized behaviours such as taking theft. If if was not given voluntarily, it was theft.

[@SSand4]

Thank you for this. Used to be against VAT simply because I didn't understand it very well, but this helped. Also Single Land Tax/Georgism FTW!

[@doublezero2001]

8:30 you’re a lot bigger than I thought you were. With just your face, I thought you’d be like a Napoleon dynamite 😂

[@jsheav]

Wealth taxes seem problematic for similar reasons as property taxes are. Some people get kicked out of their house because of property taxes. Ultra wealthy may need to liquidate assets that are important for society just to pay their wealth tax.

[@John-tr5hn]

You could easily set up a system where any home (that you live in) that was purchased more than 10 years before your started getting Social Security has its property taxes lowered incrementally as you age, based on your income. Or those "savings" could be passed on to your heirs when you die.

[@gewnurb]

you forgot the: why the fuck not tax

[@10Alan17]

I'm $120k in student loan debt and just started my career. I barely scratch over a 6 figure income now, am single, and get income tax of 31% in MI. What do you think about the government getting off our backs until our debts to them are partially or fully paid?

[@boosterh1113]

The problem with that is that just incentivizes people to drag their heels on repaying their debts. The longer they stay in debt, the less taxes they pay, so they'll pay the bare minimum, skip payments, etc. for as long as possible, so they can spend that extra money on other stuff. I'm sure that you are a decent, honest person who just wants a fair shake, but you have to consider how the greediest, laziest person you know would use your system.

[@darrennew8211]

Start your own business. You can't affect your taxes as long as someone else is paying you.

[@EarlHayward]

Top rate in Michigan is less than 5%. Not sure how you came up with 31%, that sounds more like all your deductions combined; which could include many things besides income tax.

[@John-tr5hn]

If those are federally subsidized loans, you can do a community-service program like Americorps for one ore two years to get a deferment on paying your taxes and get them reduced. But since most of that is federal taxes you're paying, the government won't get off your back because it's too busy subsidizing people like you who take out federal student loans. If you can get a lower interest rate from a private bank, then you should have them buy your student loans. The real problem seems to be that you paid too much for college.

[@sch4891]

the ruling/owning class didn't wanna pay their taxes so they made the gov write a bunch of taxes for the working class instead. plutocracy blows

[@cole8834]

and then you always hear the collegiate folk say "we need more taxes" lul

[@Redsox4444443]

Happy back to school Mr. Beat! We just survived our first full week. The tiredness of the first dews days is a feeling I just can’t describe.

[@kaseymeier5944]

Hope you have a great school year!

[@the8thgemmer467]

Taxes on consumption are theft. They are a way governments can tax the populace regressively without resistance. It would be much better for the economy if those were abolished or greatly reduced in favour of taxes on property or income as this would not only effectively redistribute wealth but would also encourage economic activity in the form of consumption. The greatest problem is tax avoidance (for which measures, such as punishing companies which use tax havens, can be set).

[@iammrbeat]

I do worry tremendously about regressive taxes.

[@migaloo364]

I am proud to have evaded all of them since 2004.

[@iammrbeat]

I won't tell anyone. Your secret is safe here in this comment section.

[@migaloo364]

@@iammrbeat Thank you Mr Beat. Very cool.

[@waspwrap1235]

Taxes help people make money by providing jobs and up to date infrastructure