Stop Coddling The Super Rich

[Gadawg73]

I'm going to (as a conservative) depart from the conventional conservative line on this. There are people so rich, Warren Buffet being one, and by rich I mean wealth not earnings, that nothing would be lost in the economy by taxing them at a much higher rate. By a much higher rate I mean the ordinary rate for individuals.

These people create foundations which are supposedly "non-profits" or "not for profits," and further more supposedly they are charities. These are shells for their wealth which allow them to avoid paying taxes on the growth of their wealth, and what taxes they pay are as capital gains or dividends.

After some amount of wealth is accrued– and at present the government/IRS doesn’t look at wealth at all – the growth on that wealth should be taxed at regular rates like apply to anyone else. There should, perhaps, be a $100-million wealth threshold, or if we don’t want the feds looking at wealth (after all wealth is a private issue requiring the filing a financial statement), then when dividends or “gains” to an individual are greater than some threshold amount, all after that amount would be subject to the higher rate.

The foundations mentioned above are almost always liberal institutions, and the money goes to liberal causes, used to grow the liberal establishment. Instead there could be some sort of tax abatement allowed only when the wealth grows from seed money for new inventions, seed money for small business start-ups, or to educational institutions, and others of the sort.

There are many variations on the amounts and thresholds, but we need to encourage the channeling of these earnings into the economy for useful endeavors instead of political and philosophical schemes. That would apply to “Think Tanks” of both the left and the right which foundations give money to.

How about just stopping the money to all lobbyists and stopping all the subsidies?
Reforming our tax code and reforming how we hold our elections?
The fund raising and length of time has become insane.

Fair Tax ends all lobbying.
Fund raising for candidates is free speech.

 

[daveman]

Nothing is stopping Warren Buffet from paying more taxes or any of the other super rich who want to do so.
There is a little box on their tax forms that you can check off and pay as much as you would like.

No, no. Individual generosity doesn't count. The left only feels generous when their good deeds are mandated by the government.

 

[peach174]

I'm going to (as a conservative) depart from the conventional conservative line on this. There are people so rich, Warren Buffet being one, and by rich I mean wealth not earnings, that nothing would be lost in the economy by taxing them at a much higher rate. By a much higher rate I mean the ordinary rate for individuals.

These people create foundations which are supposedly "non-profits" or "not for profits," and further more supposedly they are charities. These are shells for their wealth which allow them to avoid paying taxes on the growth of their wealth, and what taxes they pay are as capital gains or dividends.

After some amount of wealth is accrued– and at present the government/IRS doesn’t look at wealth at all – the growth on that wealth should be taxed at regular rates like apply to anyone else. There should, perhaps, be a $100-million wealth threshold, or if we don’t want the feds looking at wealth (after all wealth is a private issue requiring the filing a financial statement), then when dividends or “gains” to an individual are greater than some threshold amount, all after that amount would be subject to the higher rate.

The foundations mentioned above are almost always liberal institutions, and the money goes to liberal causes, used to grow the liberal establishment. Instead there could be some sort of tax abatement allowed only when the wealth grows from seed money for new inventions, seed money for small business start-ups, or to educational institutions, and others of the sort.

There are many variations on the amounts and thresholds, but we need to encourage the channeling of these earnings into the economy for useful endeavors instead of political and philosophical schemes. That would apply to “Think Tanks” of both the left and the right which foundations give money to.

How about just stopping the money to all lobbyists and stopping all the subsidies?
Reforming our tax code and reforming how we hold our elections?
The fund raising and length of time has become insane.

Fair Tax ends all lobbying.
Fund raising for candidates is free speech.

Not when fund raising become an insanely amount.

 

[American Horse]

I'm going to (as a conservative) depart from the conventional conservative line on this. There are people so rich, Warren Buffet being one, and by rich I mean wealth not earnings, that nothing would be lost in the economy by taxing them at a much higher rate. By a much higher rate I mean the ordinary rate for individuals.

These people create foundations which are supposedly "non-profits" or "not for profits," and further more supposedly they are charities. These are shells for their wealth which allow them to avoid paying taxes on the growth of their wealth, and what taxes they pay are as capital gains or dividends.

After some amount of wealth is accrued– and at present the government/IRS doesn’t look at wealth at all – the growth on that wealth should be taxed at regular rates like apply to anyone else. There should, perhaps, be a $100-million wealth threshold, or if we don’t want the feds looking at wealth (after all wealth is a private issue requiring the filing a financial statement), then when dividends or “gains” to an individual are greater than some threshold amount, all after that amount would be subject to the higher rate.

The foundations mentioned above are almost always liberal institutions, and the money goes to liberal causes, used to grow the liberal establishment. Instead there could be some sort of tax abatement allowed only when the wealth grows from seed money for new inventions, seed money for small business start-ups, or to educational institutions, and others of the sort.

There are many variations on the amounts and thresholds, but we need to encourage the channeling of these earnings into the economy for useful endeavors instead of political and philosophical schemes. That would apply to “Think Tanks” of both the left and the right which foundations give money to.

How about just stopping the money to all lobbyists and stopping all the subsidies?
Reforming our tax code and reforming how we hold our elections?
The fund raising and length of time has become insane.

Fair Tax ends all lobbying.
Fund raising for candidates is free speech.

Good solutions, but we hear this issue used against Republicans/conservatives all the time: a secretary pays a higher rate than does her billionaire boss. The boss complains that his rates are too low, but shifts the earnings from his wealth to foundations that go to the lobbying and power points in government. It's the spending at the root of the problem, we know that, so maybe we should forget everything else and focus on that? I don't think we can ignore the support system for the chronic corruption underlying our government in WASHINGTON.

BTW the Fair Tax is a nice ideal solution, but ideal solutions are the hardest to enact. A fair tax would be compromised immediately with deductions for the poor, for food, housing, medical, etc, etc.

 

[Toddsterpatriot]

Why don't you (a) READ THE ARTICLE BUFFETT WROTE (b) Acknowledge the initial response I gave to your initial question (c) Stop trying to bluff and BS with your lame stall tactics just claiming that anyone who gives you answers that you don't like "make no sense" (d) Get an adult you trust to explain things to you if your reading comprehension is on the fritz before you "try again". (e) be intellectually honest for a change? (f) ALL OF THE ABOVE.

He didn't use the word screw in the article.

Let's try again.

Neocon parrots are regurgitating something? What exactly?

Fed to them by the people? Which people?

The people who are screwing them? Which people are screwing them? How?
By keeping capital gains taxes at 15%?

And as the chronology of the posts shows, folks.....once Todd is faced with facts that don't support his neocon/teabagger mantras and beliefs, he just goes into parrot mode...ignoring the points others makes and just repeating his BS. Todd needs to grow up. But instead, he'll keep playing this failed dodge of his as some sort of "victory"....so much more to pity Todd and his fellow dupes. I'll leave him to it.

I read the article and it doesn't say what you claim.

Do you feel the 15% capital gains tax rate is screwing you? Why?

Do rich people make you cry? Why?

 

[Toddsterpatriot]

How about just stopping the money to all lobbyists and stopping all the subsidies?
Reforming our tax code and reforming how we hold our elections?
The fund raising and length of time has become insane.

Fair Tax ends all lobbying.
Fund raising for candidates is free speech.

Good solutions, but we hear this issue used against Republicans/conservatives all the time: a secretary pays a higher rate than does her billionaire boss. The boss complains that his rates are too low, but shifts the earnings from his wealth to foundations that go to the lobbying and power points in government. It's the spending at the root of the problem, we know that, so maybe we should forget everything else and focus on that? I don't think we can ignore the support system for the chronic corruption underlying our government in WASHINGTON.

BTW the Fair Tax is a nice ideal solution, but ideal solutions are the hardest to enact. A fair tax would be compromised immediately with deductions for the poor, for food, housing, medical, etc, etc.

Buffett lied when he said his secretary paid 30% on a $60,000 salary.

He paid the same or higher rate on his income tax, Social Security tax and capital gains tax.