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Message
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Posted on 7/26/14 at 10:43 pm
Posted on 7/26/14 at 10:43 pm
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This post was edited on 10/30/14 at 1:50 pm
10
Posted on 7/26/14 at 10:48 pm to Asgard Device
Not a horrible idea. He would trade the 14.7% wealth tax in exchange for an elimination of the inheritance tax.
Nowadays we would need the tax to be about 30% though.
Nowadays we would need the tax to be about 30% though.
Posted on 7/26/14 at 10:49 pm to Asgard Device
For once something I can agree with Trump on.
Posted on 7/26/14 at 10:52 pm to Asgard Device
The sad part is the increase in the debt over the last 14 years. 
Posted on 7/26/14 at 10:54 pm to Asgard Device
quote:
By Trump's calculations, his proposed 14.25 percent levy on such net worth would raise $5.7 trillion and wipe out the debt in one full swoop.
A bit off-topic, but man how not-formidable $5.7 tril sounds
Posted on 7/26/14 at 10:55 pm to 90proofprofessional
quote:Sad isn't it.
A bit off-topic, but man how not-formidable $5.7 tril sounds
Posted on 7/26/14 at 11:15 pm to Asgard Device
he also supported Obama vigorously in his first election and after the election...but anyone that doesn't make economic war on China on Trump's behalf, he really has no use for
Posted on 7/26/14 at 11:37 pm to Asgard Device
quote:
with more business start-ups
Yeah, I'm sure that all of these wealthy people that are suddenly 15% poorer from a "one time tax" will be eager to spend some money on new businesses.
Posted on 7/26/14 at 11:39 pm to Asgard Device
A one time tax? On money that has already been taxed?
Posted on 7/26/14 at 11:57 pm to Jcorye1
I have often wondered, instead of raising taxes, why we don't think out of the box on generating revenue for SS and Medicare.
Two good revenue streams that could be earmarked to help keep them afloat would be legalization of marijuana on a Federal level and taxing it like we do cigarettes. Another would be a United States lottery. No new taxes on the general public, just on those that choose to indulge.
This and passing a law preventing Congress from raiding the fund anymore.
Two good revenue streams that could be earmarked to help keep them afloat would be legalization of marijuana on a Federal level and taxing it like we do cigarettes. Another would be a United States lottery. No new taxes on the general public, just on those that choose to indulge.
This and passing a law preventing Congress from raiding the fund anymore.
This post was edited on 7/26/14 at 11:58 pm
Posted on 7/27/14 at 1:01 am to antibarner
quote:
I have often wondered, instead of raising taxes, why we don't think out of the box on generating revenue for SS and Medicare.
Two good revenue streams that could be earmarked to help keep them afloat would be legalization of marijuana on a Federal level and taxing it like we do cigarettes. Another would be a United States lottery. No new taxes on the general public, just on those that choose to indulge.
Da fuq does it matter, they will just see it as new money and waste it even more. The problem isn't with revenue, it's with ridiculous spending.
Posted on 7/27/14 at 1:28 am to THRILLHO
Cause the top 1% just start business after business like you pop the top on natty lights. At best you might be a freshman. At worst you think like a high schooler that learned a little about economics
Posted on 7/27/14 at 1:44 am to Asgard Device
How do people think this is a viable solution?
People who have over $10 million don't just have it sitting around. That money is tied up in assets, stocks, bonds, etc.
Can you imagine what would happen if all of those people had to liquidate their assets at the same time?
People who have over $10 million don't just have it sitting around. That money is tied up in assets, stocks, bonds, etc.
Can you imagine what would happen if all of those people had to liquidate their assets at the same time?
Posted on 7/27/14 at 6:17 am to Asgard Device
quote:
The tax also would lead to the repeal the current federal inheritance tax "which really hurts farmers and small businessman and women more than anything else," Trump said.
Back then there were 'businessmen and women'
This statement -wrt farms at least -is total bullshite, BTW .
LINK
quote:
The numbers that owed estate tax, the CBO found, were paltry, and the number without enough cash on hand to pay the bill even punier: In 2000, for example, just 1,659 farm estates had taxes due, of which 138 didn't report enough liquid assets to cover their tax liability.
This post was edited on 7/27/14 at 6:19 am
Posted on 7/27/14 at 6:30 am to mmcgrath
quote:
Nowadays we would need the tax to be about 30% though.
Not true at all unless the 1% has the same net worth they did 15 years ago. I would bet the 1% has AT LEAST doubled their net worth in the last 15 years so if anything they would be taxed less than 14.7%.
Posted on 7/27/14 at 8:42 am to Asgard Device
If the ultra rich think this is such a great idea, they don't need to pass a law to do it.
VOLUNTEER.
That way you have a way better chance of it being 'one time' and not creeping into the middle class like the original income tax did.
VOLUNTEER.
That way you have a way better chance of it being 'one time' and not creeping into the middle class like the original income tax did.
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