biden hilariously proclaims the rich should pay their fair share of taxes

[Blues Man]

So?

Small companies hire people at all levels. All working to create wealth

You never ran a small business.

The owner(s) put in far more time, money and energy than the average employee.

Those employees wouldn't be able to create wealth or anything else without leadership

 

[Lisa558]

You want the "rich" to pay say 30% then you should pay 30%. That's a fair tax

He’s a leftist. He is in support of OTHER people paying.

 

[rightwinger]

You never ran a small business.

The owner(s) put in far more time, money and energy than the average employee.

Those employees wouldn't be able to create wealth or anything else without leadership

And the owner can’t create wealth on his own

 

[Tom Paine 1949]

As you know, taxing wealth is unconstitutional. So your yada, yada is a moot point.

IF we were to tax increases in wealth, would the government give tax credits if someone's wealth decreases?

From one rather down to earth point of view, Willlie Sutton had it right: “I rob banks because that is where the money is.”

Of course I am no Willie Sutton, and I certainly don’t think that taxation with representation is robbery!

On the other hand you have another opposite view, expressed well by John D. Rockefeller, one of the country’s richest men who opposed the 1913 16th Amendment that authorized the original federal income tax (limited at first only to the very wealthy):

“When a man has accumulated a sum of money within the law. . . the people no longer have any right to share in the earnings resulting from the accumulation."

Rockefeller was apparently referring especially to federal “capital gains” and taxes on profits, which were also set up by federal legislation at that time.

Outside of property taxes, which are normally taxed by states under our Federal system in the U.S., there have been (mostly not very successful) attempts in Europe to tax “wealth” directly. The problems emerged there largely because of the difficulty of measuring the value of different kinds of “wealth” for tax purposes … which you indirectly referred to when you pointed out that “assets” can of course decline, as with the stock market, or the value of assets like land, housing, office buildings or art and other intangibles.

This is why I personally usually only emphasize that rising wealth concentration and corresponding poverty in society is a growing problem for our democratic culture and our whole social and political system.

I acknowledge the idea of direct federal “wealth taxation” is problematic and would be difficult to design and impose in practice even if limited only to mega-rich “oligarchs.” We see how difficult a task getting desperately needed state revenue from oligarchs is in many underdeveloped or corrupt capitalist countries, especially where wealth differentials in society have gotten out of hand entirely.

New creative ways to finance pressing state and social needs and yet create more “equal opportunity” and social solidarity in society are necessary. We should at least recognize that traditional “progressive income tax” is today a joke to, and successfully avoided by, the mega-wealthy.

 

[Lisa558]

You never ran a small business.

The owner(s) put in far more time, money and energy than the average employee.

Those employees wouldn't be able to create wealth or anything else without leadership

He was a government employee. He wouldn’t know what a P&L was if it bopped him in the head.

 

[leftwinger]

If you punish the successful (TAX) they take less risk. To do what? Hand it out free of charge to the do-nothing un-productive Black baby breeders in CHI? To white meth heads is Bakersfield?

America was a success because of reward vs. Risk. A North Korea has no chance vs. USA.

 

[Lisa558]

And the owner can’t create wealth on his own

So what? He’s creating jobs and enabling people to support themselves or contribute to the family income. If they’re skilled and valuable, they can lead a quite comfortable life.

 

[Blues Man]

And the owner can’t create wealth on his own

Wealth is not "created"

Wealth is net worth.

Having employed literally hundreds of people I can tell you that there is no such thing as an irreplaceable employee but there are irreplaceable business owners and leaders.

 

[Blues Man]

He was a government employee. He wouldn’t know what a P&L was if it bopped him in the head.

He was one of those plug and play 100% replaceable employees who thinks he was worth more than he actually was

 

[rightwinger]

Wealth is not "created"

Wealth is net worth.

Having employed literally hundreds of people I can tell you that there is no such thing as an irreplaceable employee but there are irreplaceable business owners and leaders.

Nonsense

Business owners are replaced all the time

 

[Lisa558]

If you punish the successful (TAX) they take less risk. To do what? Hand it out free of charge to the do-nothing un-productive Black baby breeders in CHI? To white meth heads is Bakersfield?

America was a success because if reward vs. Risk. A North Korea has no chance vs. USA.

Exactly. Who will want to take on increased responsibility and headaches for a major promotion if the government is going to confiscate 70% of the additional salary?

 

[Mac-7]

Putin chose a flat tax rate for Russia way back in the 90's, and also raised the average income by an amount equal to about $600/mo. It was an about-face from the communist policies that ran the country into ruin in 80's and was the reason for his popularity. People liked what he was doing and they wanted more. It wasn't enough for some of the new middle class who wanted to become elite and were angry that some policies prevented corporate monopolies on essential industries and prevented CEO's from making insane salaries while workers got peanuts. Putin didn't come to power and stay in power simply bumping off rivals or being sneaky. He had respect from most Russians which was honestly earned, regardless what anyone wants to say about him and the situation in Ukraine today.

I cant comment on putin’s economic policies

You have the advantage on me there

But his invasion of crimea and ukraine is illegal

 

[Blues Man]

Nonsense

Business owners are replaced all the time

No they aren't

Most small businesses fold if the owner is not involved in the day to day

 

[Lisa558]

He was one of those plug and play 100% replaceable employees who thinks he was worth more than he actually was

I live in the DMV. They’re a dime a dozen around here, and actually believe they’re underpaid - while they “work“ (cough, cough) at home.

 

[rightwinger]

If you punish the successful (TAX) they take less risk. To do what? Hand it out free of charge to the do-nothing un-productive Black baby breeders in CHI? To white meth heads is Bakersfield?

America was a success because if reward vs. Risk. A North Korea has no chance vs. USA.

Your willingness to take risk is based more on potential profit than on the tax rate.

When we have cut corporate taxes, they dId not assume more risk……they mostly keep the extra profit

 

[francoHFW]

Biden’s effectively raised taxes on everyone, via inflation. Time to stop spending and printing money.

It's funny how every country in the world has a problem with inflation since Putin screwed up the oil and grain markets attacking Ukraine, And we are doing better than most of them. try any one of thousands of news channels

 

[Lisa558]

Your willingness to take risk is based more on potential profit than on the tax rate.

When we have cut corporate taxes, they do not assume more risk……they mostly keep the extra profit

Yes, and the potential profit DROPS when the tax rate is increased.

You government workers really don’t have a clue.

 

[BS Filter]

Nonsense

Business owners are replaced all the time

Not nearly as often as workers.

 

[SassyIrishLass]

He’s a leftist. He is in support of OTHER people paying.

He can be anything he wants, the simple fact is don't demand others to pay a percentage unless you're willing to pay the same percentage

 

[BothWings]

I cant comment on putin’s economic policies

You have the advantage on me there

But his invasion of crimea and ukraine is illegal

Our invasion of Ukraine was illegal. Putin invaded Ukraine to evict our puppets.