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re: In your opinion, should rich people pay more in income taxes?
Posted on 7/3/20 at 6:49 pm to David_DJS
Posted on 7/3/20 at 6:49 pm to David_DJS
quote:
I could give a shite about PR taxes per se.
Meh. Your posts in this thread suggest you do. Income tax and payroll taxes are the vast majority of what folks you are comparing pay.
Out of the roughly $3.9T estimated taxes for this FY, just under $2T (which we've already established, almost 40% are paid by the top 1% on only 20% of income) is from individual income tax, payroll taxes are going to be roughly $1.4T, and the other $0.5T or so is the rest, more than half corporate (income) taxes.
So, you think the "1%" are getting one over the little guy on excise taxes? If your beef isn't with payroll taxes, I have no idea WTF you're pushing here.
quote:
if Trump proposed a wealth tax and got all of us supporters onboard with it, and of course there'd a good portion of the Left that would jump onboard with it - - - do you think the progressive elite would be supportive?
How are you going to define wealth? Real estate equity? 401K balances? Cash on hand?
A wealth tax is a great idea - in theory. In practice, it even further empowers the government to pick winners and losers.
And it has nothing to do with the concepts in this thread about upper income folks needing to "pay their fair share". I agree. They're paying twice that now.
This post was edited on 7/3/20 at 6:50 pm
2
Posted on 7/3/20 at 6:52 pm to uppermidwestbama
Yes. But only because everyone should pay a flat percentage l, which technically means they pay more.
Posted on 7/3/20 at 7:44 pm to uppermidwestbama
1. They already do
2. No one should pay income taxes.
2. No one should pay income taxes.
Posted on 7/3/20 at 7:45 pm to uppermidwestbama
quote:
I'm putting a line of $350k or more a year in gross income
not even subtle
This post was edited on 7/3/20 at 7:46 pm
Posted on 7/3/20 at 7:47 pm to uppermidwestbama
There should be no income tax.
Posted on 7/3/20 at 7:58 pm to olemc999
quote:
I don’t think lottery and gambling winnings should even be taxed.
I am mixed on this issue. If I owned stock and made a killing in the market, I would ultimately face some capital gains tax.
Lottery and casino winnings should be treated as the same. A capital gain and not be taxed at income tax rates.
Feds should tax casino winnings at payout like Mississippi at a flat rate 15%. Mississippi tax is like 3%. Mississippi takes their state income tax share at payout. And you cannot file a return in Mississippi to get it it back by itemizing your losses like you can with the feds.
Posted on 7/3/20 at 9:46 pm to Hopeful Doc
quote:
Tax consumption, not earnings or wealth.
Don't think it's fair? Exempt non-luxury food items (rice, ground beef, chicken, etc) and toilet paper
Ah, yes! The "Fair Tax" that Neal Boortz championed for so long. I agree. It's an absolutely GREAT idea!
Posted on 7/3/20 at 10:10 pm to David_DJS
quote:Meh. We're talking about simple integer comparison. My 5-year old gets that.
The point wasn't that you weren't in upper level math classes. It was that you weren't alone.
quote:
TARP - did that result in a transfer of wealth, and if so who received it and who paid it?
You realize with the exception of AIG all TARP money was all repaid to the government. At a profit to the government, right? quote:We need open borders because we have a decling population. Like any Ponzi scheme that depends on current recepts to payout to redeemers... we can't continue to fund Social Security with a declining population. THAT is why we have bi-partisan support for open borders. SS isn't a benefit to "the rich".
The open border - is it a fair argument that 20 million unskilled workers hold wages down for American unskilled workers, and the benefit is accrued within the employer class?
quote:No. Not really since it's illegal to employ them.
the benefit is accrued within the employer class?
quote:
Where. I only see where you posted graphs for income taxes.
This post was edited on 7/3/20 at 10:11 pm
Posted on 7/3/20 at 10:13 pm to uppermidwestbama
Everyone should pay a flat tax RATE across the board. No deductions. Boom easy.
Posted on 7/3/20 at 10:18 pm to Ace Midnight
quote:Yea. Valuation would be in incomprehensible nightmare. Plus, you'd instantly devalue tons of asset classes. It's never a good idea to pass a tax on something... and by passing the tax... making it lose almost all of its taxable value.
How are you going to define wealth? Real estate equity? 401K balances? Cash on hand?
Posted on 7/3/20 at 10:23 pm to Ace Midnight
quote:
So, you think the "1%" are getting one over the little guy on excise taxes? If your beef isn't with payroll taxes, I have no idea WTF you're pushing here.
It’s sport around here to read with our fingertips. Such is discussion on a message board. I’m guilty of it sometimes, too.
Posted on 7/3/20 at 10:27 pm to Trevaylin
quote:
folks worth over a million dollars ought to have the net fed tax they paid posted on the internet.
I do not believe any of them pay a significant levy
You don't know what you're taking about and it's evident in the wording of your post.
This post was edited on 7/3/20 at 10:29 pm
Posted on 7/4/20 at 10:07 am to Taxing Authority
quote:
Taxing Authority
quote:
How are you going to fund the government?
Checks out
Posted on 7/4/20 at 10:14 am to uppermidwestbama
Cut the federal government in half and reduce entitlements by 2/3 then get back with me on your tax plan Biden-jr...
Posted on 7/4/20 at 10:30 am to uppermidwestbama
Yes. However, businesses should be taxed at 0% (or negative tax rates). It's really the only way to stop higher taxes being paid by low earning consumers.
Posted on 7/4/20 at 10:34 am to uppermidwestbama
There should be no income tax, only consumption taxes.
You can put luxury items in a higher consumption tax bracket than say a loaf of bread.
Everyone pays the same tax on a loaf of bread and everyone pays the same tax on a Maserati regardless of his or her income.
Also, no inheritance tax.
You can put luxury items in a higher consumption tax bracket than say a loaf of bread.
Everyone pays the same tax on a loaf of bread and everyone pays the same tax on a Maserati regardless of his or her income.
Also, no inheritance tax.
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