The wealth tax

Discussion in 'Politics' started by alan1, Sep 26, 2009.

  1. alan1
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    alan1 USMB Mod Staff Member Supporting Member

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    I often hear people make the statement that the rich don't pay enough in taxes.
    Here in the USA we tax income (and a lot of other things), but what about the wealthy people that have no income? Suppose you were lucky enough to win the sperm lottery and be born into wealth. Perhaps you are a trust-fund baby that has no income, but shit-tons of wealth.
    If you are one of the people that snivels about the wealthy not "paying their fair share", do you think wealth should be taxed? Should the simple fact that one has millions of dollars without earning a single damn dime of it be reason to tax them?
     
  2. KittenKoder
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    KittenKoder Senior Member

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    Taxing something twice is wrong, no matter who is responsible for paying it the first time.
     
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  3. RetiredGySgt
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    RetiredGySgt Platinum Member

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    And yet we do JUST that when someone dies.
     
  4. skookerasbil
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    skookerasbil Gold Member

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    Europe’s tax cuts a model for the United States


    Since 2007, the majory European nations have been cutting corporate taxes by 5% to 10%!!! Why? Because the social welfare state is an abject failure with economic growth rates that have been historically a joke. Progressive tax rates as public policy are moving in a down direction..........because they dont workl!!!!
     
  5. code1211
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    code1211 Senior Member

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    "Wealth" is a very relative concept. I know many peopole who have more wealth than i and many who have less.

    To me, I am the median. To those with less, I am probably rich and to those with more, I am probably poor.

    I was having a discussion with a guy about health care and he defined a man with a 20K annual income who has a child and said that government healthcare is needed. The fact that I was talking to the demographic that he described helped to guide my comments.

    To him, I posess wealth and lots of it. In his eyes, under your guidelines, my wealth should be taxed. Nobody gave it to me. All of it was earned. I have been very fortunate starting with the place and time in which I was born and proceeding on from there. Given those good circumstances, though, which he also has enjoyed but only for about half as long, I have earned those dollars and posessions.

    Is it your stance that Net Worth needs to be taxed? How long must wealth be posessed by an individual before part or all of it needs to be taxed for someone else's pleasure? Is it one day? One year? One decade?

    It is already taxed as it is earned. It is taxed if it property just because it exists. If it produces any income, that new income is taxed. If it is given to anyone, that gift is taxed.

    If you think the government should just take the money of private citizens for no good reason except that the government needs more money to spend, why the ruse? Just take it. Make everyone homeless and take over all of the businesses.

    That would make the country absolutely great!
     
  6. chanel
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    chanel Silver Member

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    Not only wrong but illegal. We have accumulated "wealth" through hard earned income and wise investments. No lucky sperm here. I'll be damned if the govt. says that because we made some lucrative real estate deals, we should be punished. We also lost a ton in the market last year. But guess what? We can't write off the losses. You can't have it both ways.
     
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    Last edited: Sep 26, 2009
  7. alan1
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    alan1 USMB Mod Staff Member Supporting Member

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    I'm not advocating a wealth tax. I'm just wondering how long it will be before somebody does and the government acts on it.
     
  8. alan1
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    alan1 USMB Mod Staff Member Supporting Member

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    The legality isn't the question, laws change.
     
    Last edited: Sep 26, 2009
  9. editec
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    editec Mr. Forgot-it-All

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    In relation to the benefits they gain from being members of this society?

    Damned right they don't.


    Describes damed few of the master class, but go ahead...



    No wealthy person I know fits that description, amigo. Their incomes is typically stemming from investments. They don't do doodlesquat for it, but the checks keep coming in ayway.




    That kind of wealth is locally taxed if it's real estate.

    But if you're asking us if they should have a tax levied on their personal possessions (like jewels or fine art or something?)

    No, I don't think that that should be taxed.



    No.
     
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  10. chanel
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    chanel Silver Member

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    Of course they do. Just like the death tax. There are hard core lefties that believe that the govt. should be able to seize all wealth and property after a person dies. Bullshit. Everything we do is for our kids. Too bad those robber barons don't care about kids.
     

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