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Started By
Message
Why wouldn't this job producing tax structure work?
Posted on 2/20/17 at 2:50 pm
Posted on 2/20/17 at 2:50 pm
This is my own idea so it will need some tweaking.
Tax all income over $20.0m per year at 90%. BUT provide for a $1.50 for $1 tax credit for new jobs created with the same income. The job cost must be $100k each or more - no Walmart wages. $5.0 m per $10.0 m is the max.
Bill has $30.0m in income. He will pay $9.00m in taxes on his last $10.0m in income. But, he creates 50 $100k jobs (the max per 10.0m in income) and gets to exempt $1.50 for each $1.00, or $7.50 m.
So, instead of paying $9.0 m, he spends $5.0 m for jobs, keeps the $2.50 m (on the $1.50 for each $1.00), then pays 90% on the remaining $2.50 m (allowing him to keep another $250k.
2.75m v. 1.00 m in your pocket, plus fifty jobs created/
This is much better than the trickle down garbage.
You get to keep some money (more than enough) and jobs are created.
Tax all income over $20.0m per year at 90%. BUT provide for a $1.50 for $1 tax credit for new jobs created with the same income. The job cost must be $100k each or more - no Walmart wages. $5.0 m per $10.0 m is the max.
Bill has $30.0m in income. He will pay $9.00m in taxes on his last $10.0m in income. But, he creates 50 $100k jobs (the max per 10.0m in income) and gets to exempt $1.50 for each $1.00, or $7.50 m.
So, instead of paying $9.0 m, he spends $5.0 m for jobs, keeps the $2.50 m (on the $1.50 for each $1.00), then pays 90% on the remaining $2.50 m (allowing him to keep another $250k.
2.75m v. 1.00 m in your pocket, plus fifty jobs created/
This is much better than the trickle down garbage.
You get to keep some money (more than enough) and jobs are created.
Posted on 2/20/17 at 2:53 pm to tigerite
Who's to say when an amount a person makes is more than enough?
Posted on 2/20/17 at 2:55 pm to tigerite
Just magically create $100k jobs? Jobs don't exist just to provide someone with income. They exist because the employer is making more money than they are paying the employee. As in, that $100k job would already exist on its own, not just so someone can avoid being robbed by the government.
Posted on 2/20/17 at 2:56 pm to tigerite
quote:
You get to keep some money (more than enough) and jobs are created.
How about I keep what I earn and frick you?
Posted on 2/20/17 at 2:56 pm to Jack Bauers HnK
quote:
Just magically create $100k jobs? Jobs don't exist just to provide someone with income. They exist because the employer is making more money than they are paying the employee. As in, that $100k job would already exist on its own, not just so someone can avoid being robbed by the government.
I assume, correctly, that if presented with that financial incentive, someone smart enough to earn that level of income will be smart enough to figure out how to create some jobs.
Or, they can give the money to the government to create jobs.
Posted on 2/20/17 at 2:56 pm to tigerite
quote:
tigerite
I forgot all the grade schools were out today, until I read this post
Posted on 2/20/17 at 2:57 pm to tigerite
quote:
Tax all income over $20.0m per year at 90%
20 million?
I foresee a lot of professional athletes receiving $19.99m annually with backloaded contracts trickling the remainder post retirement.
Posted on 2/20/17 at 2:57 pm to tigerite
quote:
government to create jobs
This post was edited on 2/20/17 at 2:58 pm
Posted on 2/20/17 at 2:58 pm to MrLarson
quote:
How about I keep what I earn and frick you?
You do keep what you earn, subject to appropriate fair taxes.
Posted on 2/20/17 at 2:59 pm to tigerite
quote:
Or, they can give the money to the government to create jobs.
They can have their money stolen by the government is the correct way to say this.
We The People has been forgotten. It is time to make it real again.
Posted on 2/20/17 at 3:00 pm to tigerite
quote:
You do keep what you earn, subject to appropriate fair taxes.
It's always "fair" until you get there. Everyone wants to get there.
Posted on 2/20/17 at 3:00 pm to Lsuchs
quote:
I foresee a lot of professional athletes receiving $19.99m annually with backloaded contracts trickling the remainder post retirement.
Good, then they would save for retirement rather than ending up broke as many do.
I think they should cap athletic salaries anyway. $30m for throwing a football? I don't think so.
Posted on 2/20/17 at 3:01 pm to tigerite
just occurred to me- heather/yoga detected
Posted on 2/20/17 at 3:01 pm to tigerite
quote:
I think they should cap athletic salaries anyway.
Oh boy.
Posted on 2/20/17 at 3:01 pm to tigerite
quote:
I think they should cap athletic salaries anyway. $30m for throwing a football? I don't think so.
That is what their skills are worth according to the free market.
No one is losing money to pay them what they think "throwing a football" is worth. People make so much off of their talent that those #s are what employers are willing to pay to retain their services over a competitor
This post was edited on 2/20/17 at 3:05 pm
Posted on 2/20/17 at 3:02 pm to MrLarson
quote:
They can have their money stolen by the government is the correct way to say this.
Wow, not quite. The thieves are the people raking in $20.0m or more who don't create jobs, who horde their wealth, and refuse to share. They steal from society, then whine when government wants its share. Selfish and greedy, they are the enemy. Hard work and enterprise should be rewarded, but not in a limitless, corrupt way.
If the uber wealthy were sharing the wealth, we'd have a different argument.
Posted on 2/20/17 at 3:03 pm to tigerite
quote:
Why wouldn't this job producing tax structure work?
If I own a business and I made 30 million a year in profit, then I would pass 9 million I owe in taxes to the consumers. That's why people who say "tax corporations!" Don't get it. The corporations will continue to pass the taxes to the consumer.
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