Page 5 of 13 FirstFirst ... 34567 ... LastLast
Results 41 to 50 of 128

Thread: Why a wealth tax?

  1. #41
    Sometimes wrong
    ttwtt78640's Avatar
    Join Date
    May 2012
    Location
    Uhland, Texas
    Last Seen
    Today @ 02:01 PM
    Gender
    Lean
    Libertarian
    Posts
    58,985

    Re: Why a wealth tax?

    Quote Originally Posted by washunut View Post
    Some of you may have heard about proposals for a new tax on individuals called the "Wealth Tax". My question is why is this needed. If there are votes to pass a wealth tax aren't there votes to fix the tax system we already have in place which purports to do just that? Why not fix the loophole ridden gift and estate taxes as a start?

    Not even sure the name of this new shiny object for the great unwashed is properly named. A quick Google search states that the amount of wealth needed to be considered wealthy is $2.4 million or 25 times the median wealth of Americans. If this is the case why start a wealth tax at $50 million as is being proposed versus $2.4 million?

    So are politicians just to lazy or stupid to fix our current system. After all they can't even use the correct start point for a true tax on the wealthy.
    Simple math - too many would object to placing a punitive (out of pure envy?) tax on those who simply have "moderate" wealth. That was the reason that (implementation of) the "cadillac plan" tax was dropped from PPACA.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

  2. #42
    Sage

    Join Date
    Mar 2012
    Location
    US, California - federalist
    Last Seen
    Today @ 12:57 PM
    Gender
    Lean
    Liberal
    Posts
    20,373

    Re: Why a wealth tax?

    Quote Originally Posted by washunut View Post
    Some of you may have heard about proposals for a new tax on individuals called the "Wealth Tax". My question is why is this needed. If there are votes to pass a wealth tax aren't there votes to fix the tax system we already have in place which purports to do just that? Why not fix the loophole ridden gift and estate taxes as a start?

    Not even sure the name of this new shiny object for the great unwashed is properly named. A quick Google search states that the amount of wealth needed to be considered wealthy is $2.4 million or 25 times the median wealth of Americans. If this is the case why start a wealth tax at $50 million as is being proposed versus $2.4 million?

    So are politicians just to lazy or stupid to fix our current system. After all they can't even use the correct start point for a true tax on the wealthy.
    I believe we should solve simple poverty and raise the minimum wage to fifteen dollars an hour, so the Poor can pay their fair share and help out.

  3. #43
    I'm not-low all the time

    Kushinator's Avatar
    Join Date
    Jan 2006
    Location
    lincoln park
    Last Seen
    Yesterday @ 01:16 PM
    Gender
    Lean
    Independent
    Posts
    19,320

    Re: Why a wealth tax?

    Quote Originally Posted by danielpalos View Post
    I believe we should solve simple poverty and raise the minimum wage to fifteen dollars an hour, so the Poor can pay their fair share and help out.
    We know... you say it in almost every single thread.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

  4. #44
    Tavern Bartender
    Constitutionalist
    American's Avatar
    Join Date
    Mar 2006
    Location
    SE Virginia
    Last Seen
    Today @ 08:51 AM
    Gender
    Lean
    Conservative
    Posts
    87,788

    Re: Why a wealth tax?

    Quote Originally Posted by Logicman View Post
    Democrats and Raising Taxes

    The problem with Democrats / liberals is they have a real problem looking into the future to see the horrendous damage their policies do.

    Do you remember when the liberals placed a 10% luxury tax on yacht sales ("get the rich")? What happened was the rich quit buying yachts, so the yacht manufacturers lost all kinds of money and the little guy who helped build the yachts got laid off. So it wasn't "get the rich," it was the liberals screwing the little guy - again.

    Another prime example: The do-gooders in San Francisco decided to give $400 'welfare' checks to homeless people. Higher taxes helped pay for that. Help the poor, right? Well, next thing you know every vagrant in America (criminals too) began showing up in San Fran for a free ride. Crime went up, and the homeless were everywhere hitting on regular folks for money, etc., and engaging in criminal activities. The police finally had enough and told the libs they had to stop the madness, which they eventually did. Liberalism gone mad again.

    Want to raise taxes on the corporations? Since all competitors will have their taxes raised, they’ll just raise their prices and pass it along to the little guy – the consumer. We’ll be paying the higher taxes for the corporations. The little guy gets screwed again. Or, corporations will leave America and operate out of lower tax countries. Common sense. Liberals don’t have it.

    Tax the wealthy? A great many of them will move to whatever state or country gives them a better deal. Redistribute their wealth? Aryeh Spero noted, “It is America’s men and women of wealth, imbued with religious and civic responsibility, who have served as the greatest patrons of the civic infrastructure, be it hospitals, libraries, museums, the arts, or the charitable United Way. England once had those patrons, but they went away as redistribution of wealth came in.” The same thing will happen in America.

    Redistribution of Wealth is, at its core, a radical left-wing economic scheme centered in greed and covetousness for other people’s money, rather than exercising personal responsibility and initiative and earning it one’s self.

    Democrats…
    Democrats enjoy giving money to the poor to buy votes, but never teach the poor how to overcome their lack of prosperity.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS. #MAGA #WalkAway

  5. #45
    Sage

    Join Date
    Mar 2012
    Location
    US, California - federalist
    Last Seen
    Today @ 12:57 PM
    Gender
    Lean
    Liberal
    Posts
    20,373

    Re: Why a wealth tax?

    Quote Originally Posted by Kushinator View Post
    We know... you say it in almost every single thread.
    Current estimates on poverty in the U.S. The official poverty rate is 12.3 percent, based on the U.S. Census Bureau's 2017 estimates. That year, an estimated 39.7 million Americans lived in poverty according to the official measure. According to supplemental poverty measure, the poverty rate was 13.9 percent.--https://poverty.ucdavis.edu/faq/what-current-poverty-rate-united-states
    Around forty million more persons creating more demand and paying more taxes is what that could mean. Only right wingers like to complain about the Poor and Taxes instead of come up with solutions to help the Poor create demand and pay taxes.

  6. #46
    Tavern Bartender
    Constitutionalist
    American's Avatar
    Join Date
    Mar 2006
    Location
    SE Virginia
    Last Seen
    Today @ 08:51 AM
    Gender
    Lean
    Conservative
    Posts
    87,788

    Re: Why a wealth tax?

    Quote Originally Posted by Kushinator View Post
    Just so it's clear... you're argument is that because a quick google search defined being wealthy as having $2.4 million in net assets, the starting point of a wealth tax should begin at this level. Therefore, politicians are just being lazy or stupid when they propose a wealth tax starting at $50 million in net assets.

    Which is just ridiculous. The beginning level of a wealth tax is independent of the definition in a quick google search of the term wealthy. There are many factors to consider, such as liquidity level of assets, type of assets (is 3/4 of someones net worth their primary residence), duration (how long has someone held these assets), etc.... Then of course, there are the macroeconomic questions: At what level does such a tax not lead to reduced consumption or investment? At what level will taxpayers be least likely to liquidate in order to make good on such a tax liability? You know... important stuff like that.

    What turned up from a quick google search probably wouldn't be within the top 1000 things to consider.
    I like what you said from the second sentence of paragraph 2 on. However, he's not supporting a wealth tax, but asking why we need one when we could just fix the problems with the existing tax system.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS. #MAGA #WalkAway

  7. #47
    Sage

    Join Date
    Oct 2011
    Last Seen
    Today @ 01:17 PM
    Gender
    Lean
    Other
    Posts
    17,440

    Re: Why a wealth tax?

    Quote Originally Posted by washunut View Post
    Some of you may have heard about proposals for a new tax on individuals called the "Wealth Tax". My question is why is this needed. If there are votes to pass a wealth tax aren't there votes to fix the tax system we already have in place which purports to do just that? Why not fix the loophole ridden gift and estate taxes as a start?

    Not even sure the name of this new shiny object for the great unwashed is properly named. A quick Google search states that the amount of wealth needed to be considered wealthy is $2.4 million or 25 times the median wealth of Americans. If this is the case why start a wealth tax at $50 million as is being proposed versus $2.4 million?

    So are politicians just to lazy or stupid to fix our current system. After all they can't even use the correct start point for a true tax on the wealthy.
    Fixing our system involves reducing spending, not raising taxes. No politician wants to do that to the 50% not paying taxes. Far easier to confiscate the wealth of the 1% who earned it.

    Look at the D candidates. Zillions of dollars of new freebies. Each trying to outdo each other. Not one word of reducing spending.

  8. #48
    Sage

    Join Date
    Oct 2011
    Last Seen
    Today @ 01:17 PM
    Gender
    Lean
    Other
    Posts
    17,440

    Re: Why a wealth tax?

    Quote Originally Posted by danielpalos View Post
    Around forty million more persons creating more demand and paying more taxes is what that could mean. Only right wingers like to complain about the Poor and Taxes instead of come up with solutions to help the Poor create demand and pay taxes.
    My suggestion to combat poverty. Make yourself more valuable to an employer and get a better job or create your own better job.

    Your solution is to force employers to pay people more money so they will have more money to pay taxes to pay people more money.

  9. #49
    Sage

    Join Date
    Mar 2012
    Location
    US, California - federalist
    Last Seen
    Today @ 12:57 PM
    Gender
    Lean
    Liberal
    Posts
    20,373

    Re: Why a wealth tax?

    Quote Originally Posted by jimbo View Post
    My suggestion to combat poverty. Make yourself more valuable to an employer and get a better job or create your own better job.

    Your solution is to force employers to pay people more money so they will have more money to pay taxes to pay people more money.
    You merely appeal to ignorance of economics and capitalism's inefficiency regarding full employment in the market for labor. Capitalism has a natural rate of unemployment even if Persons are required to obtain a doctorate to participate.

    It is a cost of living adjustment. We should not be subsidizing "Cheap Labor" in our first world economy. Labor must be able to afford our First World economy. Higher paid Labor creates more in Demand and pays more in Taxes.

  10. #50
    Advisor
    Join Date
    Dec 2019
    Last Seen
    Today @ 11:39 AM
    Gender
    Lean
    Very Conservative
    Posts
    350

    Re: Why a wealth tax?

    Quote Originally Posted by danielpalos View Post
    The right wing hates a fifteen dollar an hour minimum wage so the Poor can afford to pay more taxes.
    Those making about 30K a year or 47% of citizens do not pay any federal income taxes. If you are really for equality then you should want a tax system that requires everyone to pay federal taxes instead of getting a free ride and putting the burden on others.

Page 5 of 13 FirstFirst ... 34567 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •