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Started By
Message
re: Morgan Stanley: "The Biden Tax Proposal: Answers to 5 Top Questions"
Posted on 4/28/22 at 8:12 am to The Spleen
Posted on 4/28/22 at 8:12 am to The Spleen
quote:
Oh yay! We haven’t had a thread in a while where middle class schmucks defend policies that disproportionately benefit the wealthy!
Only the government benefits when raising taxes.
0
Posted on 4/28/22 at 8:17 am to meansonny
quote:
No taxes on food
I suggest you go read the definition of food in the states' current sales tax codes and really think about how much "food" uou buy and if you really want a 40% tax on your grocery bill
Posted on 4/28/22 at 8:49 am to fallguy_1978
quote:
Overall tax collections often drop when rates are raised.
Intellectually lazy blanket statement using "often."
There's often lightning when it rains. Does this mean lightning always accompanies rain?
No.
Targeted tax increases further undermine your statement.
CBO and Treasury have published plenty of analysis on government revenues generated when tax cuts are enacted, as well as the impact on deficits.
To boot, the highest marginal rates are still well below the max rates estimated by even the Laffer Curve as to when benefits are outpaced by burdens.
Posted on 4/28/22 at 8:52 am to LockDown
quote:
CBO and Treasury have published plenty of analysis on government revenues generated when tax cuts are enacted, as well as the impact on deficits.
And they have a flawless record recently so I'm down to just go with what they say.
Posted on 4/28/22 at 9:13 am to The Spleen
quote:
Those dividends paled in comparison to the amount corporations used for stock buybacks.
Please tell me this isn't a serious comment. Not sure how this didn't get called out more. Just regurgitating leftist talking points without realizing how stupid and contradictory this is.This post was edited on 4/28/22 at 9:17 am
Posted on 4/28/22 at 9:16 am to JDPndahizzy
Corporations were paying a higher rate under Obama they definitely can pay 28%
Posted on 4/28/22 at 9:17 am to dawgfan24348
frick off.
Posted on 4/28/22 at 9:17 am to gorillacoco
quote:
This isn’t a good defense either but first thought, one of the big positives of an inheritance tax is that it discourages the development of oligarchical/aristocratic families though so you still get this benefit even with a relatively high tax free limit.
Why is this a "bad" thing to you?
Posted on 4/28/22 at 9:19 am to Centinel
You’re an angry fella all I said was the tax was higher which it was when Obama was in office
This post was edited on 4/28/22 at 9:20 am
Posted on 4/28/22 at 9:20 am to MrLSU
Is there a current tax proposal that we should be considering, or are we going to carry on for ten pages about the tax proposal from 2021 that wasn't enacted?
Posted on 4/28/22 at 9:24 am to TBoy
While it wasn't enacted, it shows the stupidity of the proposals of the current administration.
Posted on 4/28/22 at 9:49 am to cahoots
quote:
cahoots
So what did this guy say to make him go back through his post history (to the end of 2021...as far as I went back looking) deleting every post but his most recent?
I did see he was pulling with the progs at the beginning of this thread, so I'm wondering what he said or did to dox himself.
Posted on 4/28/22 at 10:10 am to dawgfan24348
quote:
Corporations were paying a higher rate under Obama they definitely can pay 28%
Okay, so they CAN pay 28. Why not 38 or 48? They COULD also figure out a way to do that possibly. But why on earth should they? Who is the government to just take money at will at every turn?
Posted on 4/28/22 at 10:16 am to Joshjrn
quote:
In fairness, I don’t think they would necessarily see the wisdom in step up basis for assets, either
Well, sure , bc they wouldn't see the wisdom in basis to begin with.
Posted on 4/28/22 at 10:33 am to Mingo Was His NameO
quote:
quote:
No taxes on food
I suggest you go read the definition of food in the states' current sales tax codes and really think about how much "food" uou buy and if you really want a 40% tax on your grocery bill
Im in Georgia. The state has a reduced sales tax on food. Im very familiar with that definition. If you want to enlighten me on something else, have at it.
I dont get your reference on "40% tax on your grocery bill" when the grocery bill would be federally exempt. You can enlighten me on your point there as well.
Posted on 4/28/22 at 10:36 am to MrLSU
nothing instills consumer confidence when you just had a negative GDP print like raising taxes 
Posted on 4/28/22 at 11:19 am to Ross
That article is about a year old. Hopefully lame duck president status incoming.
Posted on 4/28/22 at 1:11 pm to Mingo Was His NameO
quote:
Cash has been taxed when it was earned
Yeah and when it changes hands it gets taxed again. For instance, I pay taxes on my income, and when I pay (or give) someone money they pay taxes on it.
quote:
individuals aren't taxed on gains until they become realized, that doesn't change with the inheritance tax.
The tax proposal (to my understanding) makes the transfer of assets ‘trigger’ capital gains (if they are greater than 1-2 million dollars). I don’t see why this should be any different than transfer of money since it is the act of transferring that triggers the tax in the first place.
What is your contention for why an individual shouldn’t pay taxes for a gift he is receiving?
Posted on 4/28/22 at 1:40 pm to Epic Cajun
Because hereditary oligarchies/aristocracy tend to accumulate power and money and pass it down only to those in their families, creating an inherently unfair system for anyone not lucky enough to be born with the right last name. Creating the opposite of a meritocracy.
Posted on 4/28/22 at 1:44 pm to gorillacoco
quote:
What is your contention for why an individual shouldn’t pay taxes for a gift he is receiving?
That this is your starting point is insane, of course
"any transaction of any nature among citizens should be governed by the state first and foremost" is quite a take
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