A challenge for the "Tax the rich more" crowd.

[Chuz Life]

We owe $39T and pay $1.2T a year in interest on that debt, more than defense.
We need to start paying down that debt before the dollar crashes.

You deal with the dollar crashing your way. . . I'll deal with it MY way.

Furthermore, your efforts will be futile unless and until you can get the government to be more responsible with the taxpayers money they already HAVE, before you sign on to allowing them to confiscate even more.

 

[Chuz Life]

Because they make the most money, duh. Funny how that works.

So, the same 'argument' for why a thief should target armored cars instead of vending machines.

It's still theft, isn't it?

Thus, "because they have more" is not an actual argument at all.

 

[task0778]

There's a reason why capital gains are taxed less than ordinary income, and that is because investments create jobs and spur economic growth. There's no getting around it, if you increase the capital gains tax rate then you get less investing and that means fewer jobs and less startups and business expansions. Them's the facts.

 

[kyzr]

You deal with the dollar crashing your way. . . I'll deal with it MY way.

Furthermore, your efforts will be futile unless and until you can get the government to be more responsible with the taxpayers money they already HAVE, before you sign on to allowing them to confiscate even more.

My "break glass" options are to send the "social safety net" items back to the states.
Welfare, SNAP, Medicaid, etc. Its their job to put people to work rather than pay them not to work.

 

[Chuz Life]

My "break glass" options are to send the "social safety net" items back to the states.
Welfare, SNAP, Medicaid, etc. Its their job to put people to work rather than pay them not to work.

I'm exploring other currency options.

 

[BluesLegend]

All we hear from Democrats regarding the debt is TAX THE EVIL RICH MORE.

After Democrats became multi-millionaires working for a government salary they stopped including millionaires in their tax the rich propaganda. Now it's just the billionaires they are after.

Oddly...all the actual Dem tax increases hit everyone rich and poor.

 

[kyzr]

So, the same 'argument' for why a thief should target armored cars instead of vending machines.
It's still theft, isn't it?

No its not theft. Its fairness.
Giving corporations $billions in subsidies only helps the wealthy's portfoliios, that is theft from the non-wealthy taxpayers.

Thus, "because they have more" is not an actual argument at all.

Its called a "progressive" tax system. Taxing the poor the same rate as the wealthy is criminal.

 

[kyzr]

I'm exploring other currency options.

The Weimar Republic tried that.

 

[Chuz Life]

No its not theft. Its fairness.
Giving corporations $billions in subsidies only helps the wealthy's portfoliios, that is theft from the non-wealthy taxpayers.

Its called a "progressive" tax system. Taxing the poor the same rate as the wealthy is criminal.

You can't tax the rich more without also taxing the poor more.

When will you (figuratively you) ever ******* realize that fact?

 

[candycorn]

All we hear from Democrats regarding the debt is TAX THE EVIL RICH MORE.

They never say what is "rich", and how much of the total tax bill the evil "rich" need to pay for their utopia.

Here is your chance to provide some specifics.


How much? Give is some numbers:

The top 1% should pay _____% of the total income taxes.

The top 10% should pay _____% of the total income taxes.

The top 50 should pay _____% of the total income taxes.

https://www.usdebtclock.org/

The same rate on every dollar earned.

 

[Dorian Mode]

I'm not a leftist, but I think we should abolish the federal income tax and many other taxes and start taxing things that don't benefit society or are extreme luxury items instead. Parking in handicapped spaces is not wanted, so anyone doing it gets a 1K fine. Make people pay for antisocial behavior. Don't tax little fishing boats, but tax billionaire yachts. Tax foods that make Americans so damn fat. Don't have property tax for people living in apartments but tax the hell out of these enormous mansions that house 2 people for half the year. Most importantly, if that can't generate the tax income needed to run the government then the government has to give up funding Learing Centers. No more borrowing to cover deficits.

 

[Chuz Life]

The Weimar Republic tried that.

Did they have access to worldwide currencies like crypto?

 

[kyzr]

You can't tax the rich more without also taxing the poor more.
When will you (figuratively you) ever ******* realize that fact?

We do it now, we have always done it. Its called a Progressive Tax System.

If the rich eliminate the middle class and take all the wealth the country collapses.
No family formation
No kids
You see the movie Elysium?

Elysium (2013) ⭐ 6.6 | Action, Drama, Sci-Fi

1h 49m | R

www.imdb.com

 

[kyzr]

Did they have access to worldwide currencies like crypto?

Thankfully no, they just printed more money, like the Fed does.

Crypto is a Ponzi scheme. Gold is better.

 

[Chuz Life]

We do it now, we have always done it. Its called a Progressive Tax System.

If the rich eliminate the middle class and take all the wealth the country collapses.
No family formation
No kids
You see the movie Elysium?

Elysium (2013) ⭐ 6.6 | Action, Drama, Sci-Fi

1h 49m | R

www.imdb.com

Pretend you are rich and you like your money A LOT!

You make your money (among other ways) by providing goods and services - supply and demand.

Then one day, the Government ******* Parasites Raise your taxes significantly - cutting into your beloved profits.

What are you going to do to make up the difference, maintain your profit margins, secure a good return for your shareholders?

What is the one ******* thing you can do - to respond to that tax increase, without losing profits?

 

[Chuz Life]

Thankfully no, they just printed more money, like the Fed does.

Crypto is a Ponzi scheme. Gold is better.

1. Not all crypto is the same

2. Ponzi schemes require more and more people coming in at the bottom for the takers at the top to get out with all the money, leaving those at the bottom with nothing of any value. Crypto has a shit ton of risks and rewards, but it's not a Ponzi scheme (like Social Security is.) Otherwise, the government would have shut it down long ago.

 

[Darkwind]

Just stop spending money, and the tax situation solves itself.

In just fraud in this country alone, we could eliminate $1 trillion from the budget.

 

[kyzr]

Pretend you are rich and you like your money A LOT!
You make your money (among other ways) by providing goods and services - supply and demand.
Then one day, the Government ******* Parasites Raise your taxes significantly - cutting into your beloved profits.
What are you going to do to make up the difference, maintain your profit margins, secure a good return for your shareholders?
What is the one ******* thing you can do - to respond to that tax increase, without losing profits?

Going from 37% tax to 40% tax is 3%, not a big deal. We aren't discussing business taxes.

Your investments went up a lot, 3% is nothing.

 

[kyzr]

1. Not all crypto is the same
2. Ponzi schemes require more and more people coming in at the bottom for the takers at the top to get out with all the money, leaving those at the bottom with nothing of any value. Crypto has a shit ton of risks and rewards, but it's not a Ponzi scheme (like Social Security is.) Otherwise, the government would have shut it down long ago.

SS is no Ponzi scheme. We are guaranteed 80% of promised benefits.
Money in equals money out after the surplus is used up.

Bitcoin just went from $130,000 to $65,000. What do you tell the guys who bought it at $130,000?

 

[Chuz Life]

Going from 37% tax to 40% tax is 3%, not a big deal. We aren't discussing business taxes.

Your investments went up a lot, 3% is nothing.

That doesn't answer my question or the point being made.

You think companys can be expected to simply absorb a 3% drop in their profit margin.

And they might.

On paper, that is.

But they are going to make up the difference and then some in many cases because you just them a reason, incentive and motivation to do so.