How about a 100% income tax on the rich? - Page 2 - TigerDroppings.com

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Zach
LSU Fan
Member since May 2005
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re: How about a 100% income tax on the rich?


I'm sure his property taxes (which are not federal) are really high but they relate to his quote about moving out of Calif which has high prop taxes.

We also have to remember that big time golfers have charities/foundations designed to reduce tax liabilities.






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Patrick O Rly
New Orleans Saints Fan
y u do dis?
Member since Aug 2011
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re: How about a 100% income tax on the rich?


quote:

I understand a high rate on income over that level but 100% removes all incentive to make more than that

Seems silly


I got into a discussion on youtube (I know) with this guy who was proposing we have a 90% tax rate on the 400 something billionaires we have in America. He said they'll still be rich.

Assuming you could get them to stay in the country and actually pay that 90% tax rate, it still wouldn't come close to covering our current spending levels, and I'd imagine this idjit would be for increased spending.

The weird thing is all the socialist started calling me a psychopath and a selfish a-hole. What the hell? I want for everyone to keep as much of their money as they can, but I'm the a-hole huh?






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Mo Jeaux
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NYC
Member since Aug 2008
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re: How about a 100% income tax on the rich?


You really think he's able to take a full deduction for state income taxes on his federal taxes? I'm no tax expert, but that seems unlikely.





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eelsuee
LSU Fan
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Member since Oct 2004
3923 posts

re: How about a 100% income tax on the rich?


quote:

And neglect the state income tax deduction on federal taxes...
No, if you do that you will get something closer to his 63% claim. I am assuming his claim was with no deductions. The 51% is what the cited group calculated as his actual INCOME tax.

ETA: not paying a 39.6% tax on the already paid 12.3% state tax is a saving of just under 5% of total income tax.



This post was edited on 2/3 at 12:47 pm


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lsu480
Arizona State Fan
Downtown Scottsdale
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re: How about a 100% income tax on the rich?


This thread is stupid.





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RogerTheShrubber
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Juneau, AK
Member since Jan 2009
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re: How about a 100% income tax on the rich?


Think Great Britain used to have a 95% supertax on certain income levels fro 74-78.





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Patrick O Rly
New Orleans Saints Fan
y u do dis?
Member since Aug 2011
34897 posts
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re: How about a 100% income tax on the rich?


Wonderful insight per usual.





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Bayou
LSU Fan
Arizona Desert
Member since Feb 2005
24206 posts

re: How about a 100% income tax on the rich?


quote:

This thread is stupid.

Imagine a liberal needing a sarcastic emoticon to understand the message.






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