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JohnnyKilroy 
North Carolina Fan
Member since Oct 2012
5154 posts
| re: The "rich" need to pay their "fair share"! How, exactly? (Posted on 11/24/12 at 12:39 pm to Rex)
quote:
No, it wouldn't.
False.
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DaGarun 
Northwestern St. Fan
NashVegas
Member since Nov 2007
15754 posts
| re: The "rich" need to pay their "fair share"! How, exactly? (Posted on 11/24/12 at 12:42 pm to DapperDan)
quote:
So....if revenue isn't your ultimate goal, what is?
Didn't Obama already admit it wasn't about raising revenue / deficit reduction at all? That it was really about "fairness"? Of course, when you get to set your own definition of "fair" at will, I can see why that would be attractive to someone with no ideas but a big appetite for power and control.
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NC_Tigah 
LSU Fan
Member since Sep 2003
40234 posts
| re: The "rich" need to pay their "fair share"! How, exactly? (Posted on 11/24/12 at 12:42 pm to Rex)
quote:
quote:
The plan you describe will kill revenue.
No, it wouldn't.
I'm surprised you'd not attempt to quantitate the thing Rex.
I don't know about "killing revenue," but again . . .
there would certainly be an increase in market volatility.
The only question is as to the degree.
Holdings would shift toward short term and/or day trading, etc.
Capital would exit US markets in search of relative tax havens.
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LSUwag
LSU Fan
Orlandeaux
Member since Jan 2007
5093 posts
| re: The "rich" need to pay their "fair share"! How, exactly? (Posted on 11/24/12 at 12:57 pm to Rex)
quote:
National sales tax: FOR if all exchanges of value, including sales of real estate and equities, are taxed.
Because you obviously rent.
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Bayou Tiger
LSU Fan
The Woodlands, TX
Member since Nov 2003
2941 posts
| re: The "rich" need to pay their "fair share"! How, exactly? (Posted on 11/24/12 at 1:17 pm to udtiger)
Really the easiest approach would be to develop some sort of "single payer" system for life. Everyone would be entitled to a certain car or size of house. Same thing for a certain amount of birthday and holiday allowance, and private school if desired. These items would be billed directly to the government.
This system would be means-tested to make sure the rich are not abusing this system.
The fair share would be that government keeps all dividends, capital gains, and income over $200,000. If a family can't get by on less than that, then they can apply for the single-payer system.
This would also create a ton of government jobs, stimulating the economy by growing the middle class.
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Bayou Tiger
LSU Fan
The Woodlands, TX
Member since Nov 2003
2941 posts
| re: The "rich" need to pay their "fair share"! How, exactly? (Posted on 11/24/12 at 1:20 pm to Bayou Tiger)
Oh, and /sarcasm
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Athanatos 
Vanderbilt Fan
Baton Rouge
Member since Sep 2010
5620 posts
| re: The "rich" need to pay their "fair share"! How, exactly? (Posted on 11/24/12 at 2:57 pm to NC_Tigah)
Why is fairness a consideration in adjusting tax rates? How is fairness determined?
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DaGarun
Northwestern St. Fan
NashVegas
Member since Nov 2007
15754 posts
| re: The "rich" need to pay their "fair share"! How, exactly? (Posted on 11/24/12 at 3:14 pm to Bayou Tiger)
quote:
Oh, and /sarcasm
You may be kidding, Bayou, but they're not...
The Great Society's Next Frontier
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DaGarun
Northwestern St. Fan
NashVegas
Member since Nov 2007
15754 posts
| re: The "rich" need to pay their "fair share"! How, exactly? (Posted on 11/24/12 at 3:15 pm to Athanatos)
quote:
How is fairness determined?
In whatever manner that will garner you the most votes, apparently...
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NC_Tigah
LSU Fan
Member since Sep 2003
40234 posts
| re: The "rich" need to pay their "fair share"! How, exactly? (Posted on 11/24/12 at 3:15 pm to Athanatos)
quote:
How is fairness determined?
and for whom?
For example, Obama suggests raising taxes on the rich which would generate $80-120Bn/yr revenue. That is juxtaposed against $1Tn deficits. Where extreme progressively might be claimed as fair in the present, it is terribly unfair in terms of the next generation.
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Libertariantiger
LSU Fan
Member since Nov 2012
122 posts
| re: The "rich" need to pay their "fair share"! How, exactly? (Posted on 11/24/12 at 7:10 pm to udtiger)
This is too much class warfare. It's not those people's fault. They have enough issues with raising their children, paying bills, and trying to elevate their life to constantly be railed on by republicans. 47 percent is a lot, many posters here fall in that category and are not leaches. The politicians want this posted on a message board. Both sides smile when they read this.
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JEAUXBLEAUX
LSU Fan
Bayonne, NJ
Member since May 2006
38558 posts
| re: The "rich" need to pay their "fair share"! How, exactly? (Posted on 11/24/12 at 7:11 pm to Libertariantiger)
Take the cap off FICA and tax all income.
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cssamerican 
New Orleans Saints Fan
Member since Mar 2011
1769 posts
| re: The "rich" need to pay their "fair share"! How, exactly? (Posted on 11/24/12 at 8:11 pm to JEAUXBLEAUX)
How about the elite tax? Tax every dollar over 5 Million 90%. It effects only the elite, if your bringing in 5 million a year you are not a job creator you are a hoarder of profits. No one else pays income tax at all, just have The Fair Tax. This way everyone is treated equally and we stick the rich.
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Wolfhound45
LSU Fan
WhereverTheArmySendsUs
Member since Nov 2009
7531 posts
| re: The "rich" need to pay their "fair share"! How, exactly? (Posted on 11/24/12 at 9:13 pm to udtiger)
Answer?
More. Period.
Repeal the Sixteenth Amendment and enforce deficit limits. As long as they have an endless source of revenue they will never stop spending.
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Negative Nomad
Northwestern Fan
Hell
Member since Oct 2011
599 posts
| re: The "rich" need to pay their "fair share"! How, exactly? (Posted on 11/24/12 at 10:47 pm to cssamerican)
This post was edited on 1/8 at 6:55 am
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mograyback 
Missouri Fan
Red Patoka Sea
Member since Jul 2011
5486 posts
| re: The "rich" need to pay their "fair share"! How, exactly? (Posted on 11/24/12 at 10:49 pm to udtiger)
I wonder if people realize how much the wealthy was taxed in the 50s.. was it 70%?
This post was edited on 11/24 at 10:50 pm
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JohnnyKilroy
North Carolina Fan
Member since Oct 2012
5154 posts
| re: The "rich" need to pay their "fair share"! How, exactly? (Posted on 11/24/12 at 10:53 pm to mograyback)
quote:
I wonder if people realize how much the wealthy was taxed in the 50s.. was it 70%?
Effectively taxed? Not even close. Maybe half that.
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GoCrazyAuburn 
Auburn Fan
Member since Feb 2010
9091 posts
| re: The "rich" need to pay their "fair share"! How, exactly? (Posted on 11/24/12 at 11:10 pm to mograyback)
quote:
I wonder if people realize how much the wealthy was taxed in the 50s.. was it 70%?
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HailHailtoMichigan! 
Michigan Fan
Mission Viejo, CA
Member since Mar 2012
5176 posts
| re: The "rich" need to pay their "fair share"! How, exactly? (Posted on 11/24/12 at 11:18 pm to mograyback)
quote:
I wonder if people realize how much the wealthy was taxed in the 50s.. was it 70%?
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mograyback
Missouri Fan
Red Patoka Sea
Member since Jul 2011
5486 posts
| re: The "rich" need to pay their "fair share"! How, exactly? (Posted on 11/24/12 at 11:27 pm to JohnnyKilroy)
quote:
Effectively taxed? Not even close. Maybe half that.
Not my area of expertise. I could be misinterpreting this..
But looks like it was 90% income tax for the wealthy in the 50s..
LINK
This post was edited on 11/24 at 11:28 pm
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