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What is the Rich's Fair Share?

ttwtt78640 said:
That sounds like the "fair tax" and unnecessary added complexity. I'm doing OK here in Texas as it is.
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The fair tax is a consumption tax with the added complexity of the rebates.

And yes i live in florida where we use a straight sales tax just like texas and im very happy with it.



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ttwtt78640 said:
You still need folks with meat on their bones, clothes on their backs and a hut over their heads to be able to spare some of that skin so forgiving a decent allowance before any federal income taxation begins is not such a bad idea.
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The better idea is just make the amount small enough that paying it is not a major burden and avoiding the tax is an unprofitable PITA that dissuades most evasion. I would suggest a transaction tax of less than 1% say .5% on all financial transactions. Its flat everyone pays it and at the same rate and those who move their money the most pay the most and almost everyone uses a bank of financial institution for moving their money about. This limits who collects the tax and therefor the costs of implementing it are much smaller as a fraction of take.

The primary idea is to tax not the money itself but its flow the faster money moves between people the more money is made by the government. The faster flows of money are also an indicator of the economies health, and the transaction tax ties the decisions of government to the health of the economy.
 
ttwtt78640 said:
I already have some guns so you start a militia business and I might respond to your help wanted ad if the pay and benefits are good. ;)
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Do you accept enemy corpses as payment?
 
PirateMk1 said:
The better idea is just make the amount small enough that paying it is not a major burden and avoiding the tax is an unprofitable PITA that dissuades most evasion. I would suggest a transaction tax of less than 1% say .5% on all financial transactions. Its flat everyone pays it and at the same rate and those who move their money the most pay the most and almost everyone uses a bank of financial institution for moving their money about. This limits who collects the tax and therefor the costs of implementing it are much smaller as a fraction of take.

The primary idea is to tax not the money itself but its flow the faster money moves between people the more money is made by the government. The faster flows of money are also an indicator of the economies health, and the transaction tax ties the decisions of government to the health of the economy.
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That is an interesting idea for sure and also makes it harder for congress critters to fine tune it.
 
Well, then there's this to consider:

[h=3]Top 1% pay nearly half of federal income taxes - CNBC.com[/h]https://www.cnbc.com/2015/04/.../top-1-pay-nearly-half-of-federal-income-taxes.htm...
Apr 14, 2015 - The top-earning 1 percent of Americans will pay nearly half of ... Top 1% pay half of the income tax 11:40 AM ET Tue, 14 April 2015 | 00:33.

[h=3]The Top 1 Percent Pays More in Taxes than the Bottom 90 Percent ...[/h]https://taxfoundation.org/top-1-percent-pays-more-taxes-bottom-90-percent/
Jan 7, 2014 - The top 1 percent of taxpayers pay more in federal income taxes than ... the tax burden (the top 50 percent of income earners paid 97 percent of ...

[h=3]New IRS Data: Wealthy Paid 55 Percent of Income Taxes in 2014 ...[/h]https://taxfoundation.org/new-irs-data-wealthy-paid-55-percent-income-taxes-2014/
Feb 4, 2016 - Moreover, their share of the income tax burden increased from 52 ... income, but paid a combined total of 45 percent of all income taxes.

[h=3]Top 20% of Earners Pay 84% of Income Tax - WSJ[/h]www.wsj.com/articles/top-20-of-earners-pay-84-of-income-tax-1428674384
Apr 10, 2015 - And the bottom 20%? They get paid by Uncle Sam. We compare tax burdens as Tax Day approaches.
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So pardon me if all these claims of 'not their fair share' ring hollow to me. Seems there's reason not to believe those claims.
 
ttwtt78640 said:
That is an interesting idea for sure and also makes it harder for congress critters to fine tune it.
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Its called an ATM tax. A tax like this might be just the thing to make a currency that does not use banks, like bit coins, take hold

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trouble13 said:
Its called an ATM tax. A tax like this might be just the thing to make a currency that does not use banks, like bit coins, take hold

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Avoiding a transaction tax with bitcoin and the like while possible would a PITA because most all transactions eventually go through a financial institution especially at rates less than a percent. Most people wouldn't feel much of a bite, the people who move lots of money around would feel it more. Its not a perfect scheme by any means but it would accomplish the task of raising money for the government for the least pain for the most people.
 
PirateMk1 said:
Avoiding a transaction tax with bitcoin and the like while possible would a PITA because most all transactions eventually go through a financial institution especially at rates less than a percent. Most people wouldn't feel much of a bite, the people who move lots of money around would feel it more. Its not a perfect scheme by any means but it would accomplish the task of raising money for the government for the least pain for the most people.
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Just my opinion but I prefer everyone does feel the tax bite. One of the problems with the income tax is that nobody feels that bite either. They take it before you see it. Your less likely to miss something you never had. That's one reason I'm a big fan of having one sales tax. That way everytime you buy something you feel uncle Sams bite.

Bottom line is that no matter which tax you go with it must raise at least 4 trillion to break even. We have a major spending problem in our gov. Hiding how much we are paying does not help making people aware of the problem.

Tell everyone they can keep their entire paycheck but charge them 40% sales tax on everything they buy and see how quickly people start paying attention to the spending

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trouble13 said:
Just my opinion but I prefer everyone does feel the tax bite. One of the problems with the income tax is that nobody feels that bite either. They take it before you see it. Your less likely to miss something you never had. That's one reason I'm a big fan of having one sales tax. That way everytime you buy something you feel uncle Sams bite.

Bottom line is that no matter which tax you go with it must raise at least 4 trillion to break even. We have a major spending problem in our gov. Hiding how much we are paying does not help making people aware of the problem.

Tell everyone they can keep their entire paycheck but charge them 40% sales tax on everything they buy and see how quickly people start paying attention to the spending
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If people had to sit down and actually write a check (or have it visibly deducted electronically from their personal bank account these days), they'd suddenly be much more interested how much they're being taxed. Politicians wouldn't like that.
 
Deuce said:
The wealthy elite gave us infinity war, the least they could do is pay for it.
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Really? Which wealthy elite did that? I mean..Im right there with you I guess. **** YOU Bill Gates. **** YOU you Hollywood elitist scumbags. **** YOU all you rich elected democrats.
 
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