Wot?! It's 15% of the excess over $45,000. That's flat. The effective rate is what changes and approaches 15% when you get into ARod income levels.
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Frayed Ends: Business, Economics, and Tax Policy 3.0
- Thread starter dxmnkd316
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Wot?! It's 15% of the excess over $45,000. That's flat. The effective rate is what changes and approaches 15% when you get into ARod income levels.
FlagDUDE08
Banned
Re: Frayed Ends: Business, Economics, and Tax Policy 3.0
One side is trying to say that George Bush was an idiot. One side is trying to say that socialism doesn't work when you run out of other people's money.
Clear it up enough?
One side is trying to say that George Bush was an idiot. One side is trying to say that socialism doesn't work when you run out of other people's money.
Clear it up enough?
St. Clown
Liberal Rebel Scum, apparently
Re: Frayed Ends: Business, Economics, and Tax Policy 3.0
I think we're re-designing the English language here, folks. I've never been involved in such a feat before. This is exciting!
FadeToBlack&Gold
Microlot Marxist
Re: Frayed Ends: Business, Economics, and Tax Policy 3.0
Yeah, "progressive flat tax" was a pretty great bit of doublespeak.
Yeah, "progressive flat tax" was a pretty great bit of doublespeak.
ScoobyDoo
NPC
Re: Frayed Ends: Business, Economics, and Tax Policy 3.0
It's just another example of why nothing ever gets done.
It's just another example of why nothing ever gets done.
Re: Frayed Ends: Business, Economics, and Tax Policy 3.0
Most advocates of a "flat tax" actually envision it with two, sometimes three, tiers, so that actually makes sense. The "flat" refers as much to eliminating all exemptions deductions etc. as much as having very few bands and rates.
That becomes problematic in implementation. Do you mean "all" capital gains? or merely "realized" capital gains? Are you advocating for a wealth tax here? Capital gains are a change in wealth, they are not "income" in the general intuitive sense of the word which means payment received in exchange for work performed.
Don't forget, for stocks, shareholders have already been taxed once at the corporate level. The lower capital gains tax rate recognizes that the shareholders are already receiving after-tax profits in the share price, or in dividends.
If you are consistent, do you eliminate the corporate income tax entirely and tax all corporate profits to shareholders? That would make sense in your system.
Most advocates of a "flat tax" actually envision it with two, sometimes three, tiers, so that actually makes sense. The "flat" refers as much to eliminating all exemptions deductions etc. as much as having very few bands and rates.
That becomes problematic in implementation. Do you mean "all" capital gains? or merely "realized" capital gains? Are you advocating for a wealth tax here? Capital gains are a change in wealth, they are not "income" in the general intuitive sense of the word which means payment received in exchange for work performed.
Don't forget, for stocks, shareholders have already been taxed once at the corporate level. The lower capital gains tax rate recognizes that the shareholders are already receiving after-tax profits in the share price, or in dividends.
If you are consistent, do you eliminate the corporate income tax entirely and tax all corporate profits to shareholders? That would make sense in your system.
Re: Frayed Ends: Business, Economics, and Tax Policy 3.0
Warren Buffet says that increasing the minimum wage is not the best way to help the working poor. He proposes what to him seems to be a better alternative.
Warren Buffet says that increasing the minimum wage is not the best way to help the working poor. He proposes what to him seems to be a better alternative.
Re: Frayed Ends: Business, Economics, and Tax Policy 3.0
Means vs ends debate again?
General question: what matters more, having a policy that actually works, or continuing to advocate for a policy that on the surface sounds appealing yet has demonstrably failed to work.
We see this with well-intentioned progressives all the time. Let's try idea x. It doesn't work. Oh, we have to do more of it. it still doesn't work. We have to try harder. it still doesn't work.
how long until it dawns on them that maybe they might need to try something different???
Sometimes I am reminded of medieval physicians. They genuinely, truly thought they were helping their patients get better by using leeches to "bleed out" the "poisonous humors" that were infecting them.
Too many conversations with progressives go like this: I agree with you that your intentions are worthy. I'm not sure that your methods will bring about your desired goals.
"How dare you question my sincerity!"
Means vs ends debate again?
General question: what matters more, having a policy that actually works, or continuing to advocate for a policy that on the surface sounds appealing yet has demonstrably failed to work.
We see this with well-intentioned progressives all the time. Let's try idea x. It doesn't work. Oh, we have to do more of it. it still doesn't work. We have to try harder. it still doesn't work.
how long until it dawns on them that maybe they might need to try something different???
Sometimes I am reminded of medieval physicians. They genuinely, truly thought they were helping their patients get better by using leeches to "bleed out" the "poisonous humors" that were infecting them.
Too many conversations with progressives go like this: I agree with you that your intentions are worthy. I'm not sure that your methods will bring about your desired goals.
"How dare you question my sincerity!"
FlagDUDE08
Banned
Re: Frayed Ends: Business, Economics, and Tax Policy 3.0
That's been going on for years. Make words "un-PC" in order to dumb down the language.
That's been going on for years. Make words "un-PC" in order to dumb down the language.
FlagDUDE08
Banned
Re: Frayed Ends: Business, Economics, and Tax Policy 3.0
Just in case you happen to be reading this on a whim, the WSJ articles you post are behind a pay wall.
Just in case you happen to be reading this on a whim, the WSJ articles you post are behind a pay wall.
I may not be smarter, but here goes.
Example 1
George makes $60,000
Jane, his wife, makes $40,000.
George pays (60-45) × .15 or $2,250. His maginal rate is 3.75%
Jane pays (40 - 45) × .15 or $0.00. Her marginal rate is 0.
Example 2
Ricky makes $345,000
His wife, Lucy, makes $545,000
Ricky pays (345 - 45) × .15 = $45,000 or a marginal rate of 13.04%.
Lucy pays (545 - 45) × .15 = $75,000 or a marginal rate of 13.76%.
Neither family needs H & R Block or Beatum & Cheatum tax attornies.
FlagDUDE08
Banned
Re: Frayed Ends: Business, Economics, and Tax Policy 3.0
o but ur causing unemployment!!!!1!! job hater
o but ur causing unemployment!!!!1!! job hater
trixR4kids
Well-known member
Re: Frayed Ends: Business, Economics, and Tax Policy 3.0
Seems to work in Scandinavia...
See supply side economics.
I have no problem with a 2nd tier. An extra exemption? Meh.
Oh I fogot to mention a 5 year phase in from current law to new law to accommodate those who need to adapt to yhe new law. Otherwise, I'm afraid of a rescession.
FlagDUDE08
Banned
Re: Frayed Ends: Business, Economics, and Tax Policy 3.0
And the scope of that particular country, compared to the US, is...
You guessed it, quite small. Want to implement this at a state level? Be my guest. But to implement it at the federal level, whether directly or violating the 10th amendment, is the biggest problem. This is one of the reasons that the USSR failed from an economic standpoint.
And the scope of that particular country, compared to the US, is...
You guessed it, quite small. Want to implement this at a state level? Be my guest. But to implement it at the federal level, whether directly or violating the 10th amendment, is the biggest problem. This is one of the reasons that the USSR failed from an economic standpoint.
FlagDUDE08
Banned
Re: Frayed Ends: Business, Economics, and Tax Policy 3.0
Don't mind Scooby. He knows nothing about hidden costs.
Don't mind Scooby. He knows nothing about hidden costs.
ScoobyDoo
NPC
Re: Frayed Ends: Business, Economics, and Tax Policy 3.0
Uh, huh. I live it every day but I'm entirely clueless on the subject.
Uh, huh. I live it every day but I'm entirely clueless on the subject.
trixR4kids
Well-known member
Re: Frayed Ends: Business, Economics, and Tax Policy 3.0
None of which are reasons it couldn't be implemented here.
None of which are reasons it couldn't be implemented here.
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