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a new U.S. wealth tax - only on the ultra-wealthy?

Fledermaus said:
Incorrect.
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That is where the envy comes in-he is never able to explain that if Joe big bucks was bequeathed 10 million by his father, a father who earned the money and paid tons of taxes on it, why should the parasite crowd have a greater right to the money than Joe's father have to determine what happens to the money

He is confused, he thinks I am arguing the heirs have a "right" to something they didn't earn. What I am saying is that the man who created the wealth has the ultimate right to dispose of it as he sees fits and only after he bequeaths it does the heir(s) "rights" vest.
 
If they had a sales tax for all goods and services sold (NO EXCEPTIONS) the tax code would be reasonable and fair.
 
TurtleDude said:
That is where the envy comes in-he is never able to explain that if Joe big bucks was bequeathed 10 million by his father, a father who earned the money and paid tons of taxes on it, why should the parasite crowd have a greater right to the money than Joe's father have to determine what happens to the money

He is confused, he thinks I am arguing the heirs have a "right" to something they didn't earn. What I am saying is that the man who created the wealth has the ultimate right to dispose of it as he sees fits and only after he bequeaths it does the heir(s) "rights" vest.
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I understand your position completely. I have big thick books on the very subject.

I am making an economic argument that dynastic savings is bad for the economy. I understand that economics is not exactly in your wheelhouse, but I have explained everything to the best of my ability. Not everybody is capable of understanding.
 
TurtleDude said:
That is where the envy comes in-he is never able to explain that if Joe big bucks was bequeathed 10 million by his father, a father who earned the money and paid tons of taxes on it, why should the parasite crowd have a greater right to the money than Joe's father have to determine what happens to the money

He is confused, he thinks I am arguing the heirs have a "right" to something they didn't earn. What I am saying is that the man who created the wealth has the ultimate right to dispose of it as he sees fits and only after he bequeaths it does the heir(s) "rights" vest.
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First of all, taxes paid do not go to your mythical worthless person. It goes to the Treasury. Secondly, it is in the best interests of the nation to discourage massive wealth accumulation through dynasties. I know you disagree but that's why we have elections. Do you think Paris Hilton is worthy of the millions she inherited? How about Trump? Did he deserve to get 400 million in the 70s? No. Give the guy a million bucks and make him do it on his own merit.
 
TurtleDude said:
That is where the envy comes in-he is never able to explain that if Joe big bucks was bequeathed 10 million by his father, a father who earned the money and paid tons of taxes on it, why should the parasite crowd have a greater right to the money than Joe's father have to determine what happens to the money

He is confused, he thinks I am arguing the heirs have a "right" to something they didn't earn. What I am saying is that the man who created the wealth has the ultimate right to dispose of it as he sees fits and only after he bequeaths it does the heir(s) "rights" vest.
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If I earn X dollars and wish to bequeath it to my heirs it isn't anyone's business but mine.
 
Fledermaus said:
If I earn X dollars and wish to bequeath it to my heirs it isn't anyone's business but mine.
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That's a legal argument, not an economic one. And laws can be changed.

I really don't think you guys are capable of making, or even understanding, economic arguments.
 
Fledermaus said:
If I earn X dollars and wish to bequeath it to my heirs it isn't anyone's business but mine.
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NO!!

I think you have more money that you really need.....therefore I want the government to take some away and give to others ( me ) under the guise of social entitlements.

See? Dont you feel better contributing to my utopia and paying for my college education?
 
Bum said:
NO!!

I think you have more money that you really need.....therefore I want the government to take some away and give to others ( me ) under the guise of social entitlements.

See? Dont you feel better contributing to my utopia and paying for my college education?
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You guys could do with more education.
 
JohnfrmClevelan said:
That's a legal argument, not an economic one. And laws can be changed.

I really don't think you guys are capable of making, or even understanding, economic arguments.
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no he made a philosophical argument and it cannot be defeated by statist claims of what is best for the economy as a whole
 
JohnfrmClevelan said:
You guys could do with more education.
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we should compare educations. I also find it hilarious that the people who constantly whine about the wealth of others, pretend to be economic geniuses. If that were true, you all would be wealthy enough not to constantly conjuring up reasons you want others' wealth
 
JohnfrmClevelan said:
You guys could do with more education.
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You know what?

For the sake of efficiency, lets just cut out the government middle man....just move into his house, eat his food, sleep in his bed, and help yourself to his car and bank account.

After all, he has more than he needs, and we should all be brought down to the same level.
 
Bum said:
The problem with all of the above is that the law provides congress the ability to tax income…..not personal wealth or perceived personal value.
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Why do democrats think someone else should pay for what they don't have? I spend a lifetime working and raising myself up and I expect others to do the same.
 
Integrityrespec said:
Why do democrats think someone else should pay for what they don't have? I spend a lifetime working and raising myself up and I expect others to do the same.
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Something about economic justice/equality...….Look, I have been over the Declaration of Independence more than a few times...not a legal scholar by any means; but when reading about certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness, I never see the words "entitled" or "guaranteed" associated with that statement.

More power to you if you can come by the above legally and get silly rich, but its not a freebie; and for those that manage to get rich or get a leg up due to whatever your family may leave you, I'm certainly not mad at you.


And its not just Democrats looking cash in on an individuals wealth, its pretty much the government as a whole.
 
TurtleDude said:
we should compare educations. I also find it hilarious that the people who constantly whine about the wealth of others, pretend to be economic geniuses. If that were true, you all would be wealthy enough not to constantly conjuring up reasons you want others' wealth
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So true.

What they are doing, is rationalizing more wealth redistribution.
 
JohnfrmClevelan said:
Another awesome economic argument.

Seriously, why do you guys even hang around this forum when you don't know the first thing about economics? Go rant on some political thread.
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Why do you rationalize taking other people's money?
 
Lord of Planar said:
Why do you rationalize taking other people's money?
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Modern American liberalism is a constant search for ways to pretend that their proponents' envy and greed for others' wealth can be camouflaged by grandiose appeals to "the common good" and "economic justice"
 
TurtleDude said:
Modern American liberalism is a constant search for ways to pretend that their proponents' envy and greed for others' wealth can be camouflaged by grandiose appeals to "the common good" and "economic justice"
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Well, some of us aren't ignorant enough to let them do that.

I'm about to start calling the Party of Hypocrisy the Pitiful Party of Hypocrisy.
 
Lord of Planar said:
Well, some of us aren't ignorant enough to let them do that.

I'm about to start calling the Party of Hypocrisy the Pitiful Party of Hypocrisy.
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Or perhaps most of us have read enough history to understand what happens when a society creates an inter-generational landed gentry that controls everything to maintain its grip on power and money. Ever consider that?
 
Vadinho said:
Or perhaps most of us have read enough history to understand what happens when a society creates an inter-generational landed gentry that controls everything to maintain its grip on power and money. Ever consider that?
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stuff like the death tax and high income tax rates insulate the position of the uber wealthy
 
Vadinho said:
Both of which the GOP cut the second they could.....
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Don't bother. None of these guys can see anything past the radius of their own clenched fists.

They all think that they are part of the oligarchy.
 
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