Anachronism
Rookie
- Banned
- #21
In other words, the richest Americans should be tax exempt and the poor should pay for everything...
Those individuals who have already been taxed on their holdings should not be taxed on them again. We have a legal concept in this country called "Double Jeopardy". It means that you cannot be tried more than once for the same crime. I would like to see that same concept applied to our Tax System. ONE bite at the apple. Period. If that bite is 12%, so be it, but ONE BITE ONLY.
He was just stating the way it is now where you do not pay income tax on money you have in the bank just on the interest from that money type of thing.
NO. That interest would not be taxable, so long as the funds it was earned on had been taxed once already.
I can sort of agree on gifts to immediate family members only if you already paid tax on it. But an exemption for gifts to anyone else could easially be misused and people could get gifts instead of bonuses for example.
If the gifter paid taxes on it, I think you mean. Yes, it's a slippery slope and here would need to be some restrictions, but it is the right thing to do so far as I'm concerned.
Not what he said. What he said would mean that those who play the stock market or whose income comes from re-investing money they already have would not pay income tax. He would tax only those who work and not wealthiest
What is it that makes you think the wealthiest would not be taxed? Are you telling me that Bill Gates does not draw an income from his companies? That income (whether in options, stocks, money, etc....) is all taxable under my plan. In fact they would pay more because their options, etc... WOULD be taxed where they aren't now.
No, everyone pays the same.
Everyone pays the same percentage. Now 10% of $1,000,000 is a lot more than 10% of $10,000 but that's the way things work.
That's not what he said.
He said the richest Americans would pay nothing- because 'capital gains, investments, sale of property' would not be taxed. Only those who still work for a living would be taxed to pay for the military to protect the interests of the wealthy.
Again, are you trying to tell me that Bill Gates and Company draw NO NEW INCOME from any of their companies? I find that very hard to believe.