Do you support a 1% Federal Wealth Tax to pay down the $39T National Debt? (Poll)

[Nostra]

That's the reality of it. Federal records prove this.; from 2017 to 2020 , over 100,000 high earners (.making over 200,000 ) didn't even file. Over 25,000 millionaires didn't pay any taxes at all.

Link?

 

[Lisa558]

Don't you mean problem creator. The country has never been worse off.

We’ve stopped the massive invasion of illegal aliens, and even managed to deport 3 million of them in Trump’s first year. That alone is a massive gain.

 

[leftwinger]

l am using past actuals as support. You are kind of just making stuff up. We had a strong economy, balanced budget, and 20% of GDP was revenue and expenses.

I've posted the chart several times

No matter what the top income tax rate, GOVT tax revenue does not exceed 20%*GDP (for any sustained length of time, just a spike here or there) for over 100 years.

Why is that "MR. 7 figures income genius"? Why?

I've posted my theories. All you do is SPIN like you do every time you're caught.

 

[leftwinger]

That's insane

Everyone follows tax law set by Congress. Or, the IRS comes calling. Except for Deep State GOVT workers or their blowbags like coke-head Hunter gets a free pass on $30million gifts or $85K per month Burisma money and "art" sales as they all giggle about it at you Stain over Gin&Tonic at the club.

 

[leftwinger]

I once posted a thread to post new taxes or new methods to raise revenue by $2T. No one came up with anything over weeks of posts.

Perhaps a transaction tax on stock trades? And higher corporate tax rate (not too high or kill jobs)?

Its not as easy as it sounds when stain seller out hi-rise apt wonders "TAX the RICH".

Too much kills GDP or Rich stop investing or working. They can move easier than BoardStain maggots too. Revenue will decrease when GDP falls.

 

[leftwinger]

I'm afraid to post it. They might do it.

A 1% Federal Property Tax. Maybe along with 1% across the board GOVT freeze and cut every year? 5% cut?

Fix fraud. Lower interest rates seems a no-brainer yet Congress says almost nothing about it?

 

[leftwinger]

Let's do some math shall we?
Supposing:

GDP=$10T, tax $2T (20%*GDP).

Deep State raises tax to $3T (30%)

Theory: GDP will drop and Tax collected will drop as rich sit out.


Not the 100 yr chart I had before cannot find it on small phone. I found 50 yr chart so sue me.

 

[kyzr]

Let's do some math shall we?
Supposing:
GDP=$10T, tax $2T (20%*GDP).
Deep State raises tax to $3T (30%)
Theory: GDP will drop and Tax collected will drop as rich sit out.
Not the 100 yr chart I had before cannot find it on small phone. I found 50 yr chart so sue me.

You need to show the National Debt exploding on that graph.

What tax revenue doesn't cover they need to borrow.

 

[leftwinger]

You need to show the National Debt exploding on that graph.

What tax revenue doesn't cover they need to borrow.

But it shows no matter the top income Tax rate, revenue never moves much near 20%*GDP.

Over 90% and revenue settled out ~20%*GDP. 100 yr chart is cant find on phone also shows the same basic numbers.

Theory: tax 90%, those affected stop working? Sit out for a while? Not worth the effort or risk?

 

[leftwinger]

Currently $30T GDP. Can they get 30% of it or $9T? History says no.

Unless an idea man like Trump led the charge to get 30%. Need new ideas.

A National property tax might get revenue? At least at first.

I'm no expert. But over time, no matter what they do to the top income tax rate, revenue doesn't move. 100 or 50 yrs is a large sample. Defense rests.//

 

[citygator]

I've posted the chart several times

No matter what the top income tax rate, GOVT tax revenue does not exceed 20%*GDP (for any sustained length of time, just a spike here or there) for over 100 years.

Why is that "MR. 7 figures income genius"? Why?

I've posted my theories. All you do is SPIN like you do every time you're caught.

You posted the top tier tax rate alone which is misleading without posting effective tax rate. The EFFECTIVE top tier rate has plummeted. You want to research that or don’t want me to post it?

 

[Nostra]

You posted the top tier tax rate alone which is misleading without posting effective tax rate. The EFFECTIVE top tier rate has plummeted. You want to research that or don’t want me to post it?

Link us up to your data.

 

[leftwinger]

You posted the top tier tax rate alone which is misleading without posting effective tax rate. The EFFECTIVE top tier rate has plummeted. You want to research that or don’t want me to post it?

Don't care your tricks and gimmicks. I have 100 yrs (big sample).

Can you get 30%*GDP thru taxation without collapsing GDP? If so how? History has shown you can barely get 20% and sustain it. why is that?

No more of your games, spin or gimmicks. I'm out. I'll wait.

 

[leftwinger]

Link us up to your data.

It doesn't exist as far as I have looked. He'll come back with the tired old Warren Buffet BS that he only pays 26% while his secretary pays more? All Spin. We live in reality.

Congress sets and changes all taxes over 100 yrs. I see revenue near 20%*GDP no matter what they've done?

 

[leftwinger]

"Effective rate" boils down to Capital Gains rate? If so just propose to raise it. Cut your long winded spin and BS

Or is it increase in unrealized gains on property or investments?

What is it you Stain want to confiscate?

 

[Invisibleflash]

A Federal Wealth Tax on financial assets might be one way to pay down the $39T National Debt.
Another would be to eliminate all "tax deductions".
A "sweetener" could be to couple the increase in "wealth" taxes with a "Balanced Budget" Law to forbid future Federal borrowing.

Wealth Tax 2025 Debate: U.S. Legal and Constitutional Challenges

Wealth Tax 2025 debate in the U.S. explores constitutional limits, federal authority, and potential court challenges.

lawdropusa.com

Q: What is a wealth tax?
A: A levy on net assets such as stocks, and cash holdings, rather than annual income.

Q: Is a wealth tax constitutional?
A: Opponents argue it violates apportionment rules; supporters claim the Sixteenth Amendment provides sufficient authority.

Q: Has the U.S. ever had a wealth tax?
A: No comprehensive federal wealth tax has been enacted, though estate and property taxes function similarly in scope.

Q: Why is the wealth tax 2025 debate significant?
A: It tests the balance between government taxing power and constitutional limits, with potential Supreme Court involvement.

Just doing some simple math.
If there is approximately $269T of "financial" wealth in the US, and the current Debt is $40T, and we want to pay that debt off in 8-years, that means a $5T tax or a ~2% wealth tax on all financial assets, but only for 8-years.
(it could be 1% over 16-years, if that is easier to sell)

View attachment 1228771

Problem solved. No debt, and no more borrowing.

No. If a balanced budget is put into law, then maybe.

 

[Southern Dad]

A wealth tax sounds great…. So someone has a house that is worth a million dollars. You hit them for 10% wealth tax and they are going to need to come up with $100,000 to pay that tax. Then the next year you hit them with a 10% wealth tax…. And the next year, and the next year…. How long until they have to sell the house? Oh wait, that is what you all want to bankrupt the rich.

 

[Samofvt]

"Saw how well that went in the other 49 states for 60 years."

"Saw how well that went in the other 49 states for 60 years."

"Saw how well that went in the states that kept voting Democrat for 60 years".

Mundane stuff like inner cities and ghetto projects falling apart. Ya know. The same social contract you signed up for instead of embracing the free people's chant: "Equity is the currency of slave masters. Free people must demand equality."