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POTUS 45.42: Who Needs Tax Increases? If You're Rich Just Write A Check.

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Re: POTUS 45.42: Who Needs Tax Increases? If You're Rich Just Write A Check.

ScoobyDoo said:
And by the way. Mitt Romney pays a lower percentage than I do. Along with Trump and Jared Kushner.
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Yeah, so close all the tax breaks and loopholes that allow that.
 
ScoobyDoo said:
Not a tax break or a loophole. Capital Gains is taxed at a much lower rate than income. Again, epic fail.
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Some people just insist that the rich must all work really hard to be rich so why punish them. Like they work that much harder than everyone else
 
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Re: POTUS 45.42: Who Needs Tax Increases? If You're Rich Just Write A Check.

unofan said:
Repeated:

"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." Adam Smith, The Wealth of Nations.

The farking father of modern capitalism understood that progressive taxation is the right thing to do.
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You do realize he was speaking very specifically about "A tax upon house-rents" and NOT taxes in general?
 
Re: POTUS 45.42: Who Needs Tax Increases? If You're Rich Just Write A Check.

trixR4kids said:
Because our economy works that much more efficiently when we do it that way as evidenced by the history of our own country as well as others.

Someone earning $9/hour getting 10% of their income taken away might not be able to pay rent where as someone earning 10 million a year might not be able to afford a yacht.
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that gives one incentive though to earn a 10mm paycheck :D

brent has a point though.

how about everyone pays 6% of their gross for social security.
everyone pays 8% of their gross from national health care
and everyone pays 45% of their gross for income tax with the first $200k exempt.
then everyone (here companies are people... freedom of speech and all) pays 5% of the wealth (whatever they own) with no exemptions.

can even do away with corp tax (so no more excuse for double tax on passive income)

flatter than twiggy! :)
 
Re: POTUS 45.42: Who Needs Tax Increases? If You're Rich Just Write A Check.

mookie1995 said:
that gives one incentive though to earn a 10mm paycheck :D

brent has a point though.

how about everyone pays 6% of their gross for social security.
everyone pays 8% of their gross from national health care
and everyone pays 45% of their gross for income tax with the first $200k exempt.
then everyone (here companies are people... freedom of speech and all) pays 5% of the wealth (whatever they own) with no exemptions.

can even do away with corp tax (so no more excuse for double tax on passive income)

flatter than twiggy! :)
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Ideas like this have zero traction with the trickle down folks who have stolen the Middle Classes wealth since 1980. Ayn Rand has won.
 
Re: POTUS 45.42: Who Needs Tax Increases? If You're Rich Just Write A Check.

Paying 5% of all your wealth in taxes discourages non-liquid investments, and discourages savings in general. You're going to destroy the idea of retirement for all but the richest amongst us.
 
Re: POTUS 45.42: Who Needs Tax Increases? If You're Rich Just Write A Check.

Brenthoven said:
Why should they have to pay a bigger percentage?
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because they have more disposable income?

and because the more money you have, the easier it is to make more money. Left unchecked, within a few generations the top 1% will own nearly all wealth instead of "just" 40% of it owns now (source on the 40%: https://www.washingtonpost.com/news...-in-the-past-50-years/?utm_term=.a33cddd5d140)
 
Re: POTUS 45.42: Who Needs Tax Increases? If You're Rich Just Write A Check.

ScoobyDoo said:
Ideas like this have zero traction with the trickle down folks who have stolen the Middle Classes wealth since 1980. Ayn Rand has won.
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why you need to sell to them?
don't we keep hearing the D are a majority? :D
 
Re: POTUS 45.42: Who Needs Tax Increases? If You're Rich Just Write A Check.

mookie1995 said:
then everyone (here companies are people... freedom of speech and all) pays 5% of the wealth (whatever they own) with no exemptions.
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It's perfectly reasonable for a middle class person to have over a million dollars of wealth tied up in real estate or a 401.k, but this person would likely struggle to pay your $50K+ in "wealth tax" every year.

are you really proposing that I get taxed 5% on the value of my retirement savings?
 
Re: POTUS 45.42: Who Needs Tax Increases? If You're Rich Just Write A Check.

ScoobyDoo said:
Ideas like this have zero traction with the trickle down folks who have stolen the Middle Classes wealth since 1980. Ayn Rand has won.
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I'm open to a flat tax.
 
Re: POTUS 45.42: Who Needs Tax Increases? If You're Rich Just Write A Check.

ScoobyDoo said:
I can afford an accountant. Doesn't matter.
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Guessing he's slightly less accomplished than an accountant the rich people employ. Not a knock on your accountant, he suits your needs. However, guessing you'd upgrade if you could/had to.

Accountants are like lawyers. Do you call the guy you see on the tv ad? Maybe, if that's all you need. Or do you go for the super-high-priced exclusive one that you really need? ;)
 
Re: POTUS 45.42: Who Needs Tax Increases? If You're Rich Just Write A Check.

St. Clown said:
Paying 5% of all your wealth in taxes discourages non-liquid investments, and discourages savings in general. You're going to destroy the idea of retirement for all but the richest amongst us.
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don't buy that. you have no taxes on first 200k on income you have cash to cover that tax on the van gogh in your hallway. :) controlled taxes to fund directed national healthcare. controlled taxes to pay for and fund social security. anyone no longer paying 25% on income gonna ***** about 5% wealth can go live on a commune.
 
Re: POTUS 45.42: Who Needs Tax Increases? If You're Rich Just Write A Check.

Brenthoven said:
I'm open to a flat tax.
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flat taxes are a bad idea. Due to the diminishing marginal utility of money, a flat tax "harms" lower income people more than it harms high income people. A progressive tax structure is the most "fair".
 
Re: POTUS 45.42: Who Needs Tax Increases? If You're Rich Just Write A Check.

ScoobyDoo said:
No, D is the minority. Have you looked at the White House, Legislature, or Supreme Court lately?
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but it's cause they are lazy. or disenfranchised. or mad cause bernie was robbed.
 
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