Leftists are salivating - drooling - for a wealth tax

[JohnDB]

 

[BluesLegend]

A wealth tax is just one component of what needs to be a complete reorienting of how revenue for the government is collected and how it is spent. The way we do those things currently is unsustainable and inevitably will lead to our country's demise.

Brilliant, let's divide the cost of government equally, everyone pays the exact same share of that cost that's as fair as it gets. You parasites on the left would be okay with that right? Oh wait, no you sponges, you thieves and moochers would squeal like stuck pigs if you actually had to pay YOUR fair share.

 

[hadit]

Oh No
Not that!

We know how hard they have it, we can’t inconvenience them

We also know that they have options, and not every option benefits the US. Make it too expensive here and they move it somewhere less expensive. Somewhere else benefits from investment.

 

[rightwinger]

We also know that they have options, and not every option benefits the US. Make it too expensive here and they move it somewhere less expensive. Somewhere else benefits from investment.

I know
Better to have the working poor move out because wages can’t sustain them

 

[hadit]

I know
Better to have the working poor move out because wages can’t sustain them

The bottom line is, wealth redistribution is theft under a different name.

 

[rightwinger]

The bottom line is, wealth redistribution is theft under a different name.

Very true

And for the last 50 years we have been redistributing wealth from the working poor to the super rich

 

[hadit]

Very true

And for the last 50 years we have been redistributing wealth from the working poor to the super rich

Well, I guess the government does forcibly confiscate income from the working poor and give it to wealthy congresscritters to play with.

 

[Hafar1014]

Very true

And for the last 50 years we have been redistributing wealth from the working poor to the super rich

Like 27 trillion given to the poor while its the government that taxes their wages. The rich give to the poor jobs opportunities hope while the government keeps them poor

 

[DGS49]

Over-taxing the super-wealthy is a questionable proposition, and always has been. They do not get rich with WAGES; they do it with investments, and they have a great deal of flexibility of when and whether they report taxable income. The general principle is that, as long as they consider the Tax Code to be reasonably fair, they will ignore it and pay as the law provides, but if they consider it to be confiscatory, they will manipulate their affairs to minimize or eliminate their own tax burden. And make no mistake, they can pay ZERO for a long time, and do it painlessly. This is why, in the big picture, a significant increase in the top marginal tax rate only increases tax revenues for the first year or so after passage, and after a couple years The Rich end up paying at the same rate overall as they did before the rates went up. Conversely, a reduction in the top marginal tax rate (or the capital gains tax rate) usually increases Federal income tax revenues.

A Federal wealth tax is also a risky proposition. It cannot be so high that the intended payers would have to liquidate resources to pay it, because that liquidation itself would impair the paper value of the taxpayers investments...kind of a double whammy on those unfortunate souls.

Elon Musk's paper windfall has brought out the worst in Leftist charlatans like Warren and Sanders, who implausibly make absurd claims like, "If the billionaires and the trillionaire paid their 'fair share' we could eliminate child poverty!"

And you thought they were already pretty disgusting before Musk's windfall.

 

[rightwinger]

The rich give to the poor jobs opportunities hope while the government keeps them poor

The rich make a profit off of every job
It is labor that produces wealth

 

[BluesLegend]

It is labor that produces wealth

Well then 'labor' can start businesses and claim 100% of the wealth so go do that and stop trying to steal everyone elses wealth.

 

[BluesLegend]

Let's be honest, the left are losers. Unable to earn their own wealth they propose to steal everyone elses wealth, mooch and sponge off successful people.

 

[rightwinger]

Over-taxing the super-wealthy is a questionable proposition, and always has been. They do not get rich with WAGES; they do it with investments, and they have a great deal of flexibility of when and whether they report taxable income. The general principle is that, as long as they consider the Tax Code to be reasonably fair, they will ignore it and pay as the law provides, but if they consider it to be confiscatory, they will manipulate their affairs to minimize or eliminate their own tax burden. And make no mistake, they can pay ZERO for a long time, and do it painlessly. This is why, in the big picture, a significant increase in the top marginal tax rate only increases tax revenues for the first year or so after passage, and after a couple years The Rich end up paying at the same rate overall as they did before the rates went up. Conversely, a reduction in the top marginal tax rate (or the capital gains tax rate) usually increases Federal income tax revenues.

A Federal wealth tax is also a risky proposition. It cannot be so high that the intended payers would have to liquidate resources to pay it, because that liquidation itself would impair the paper value of the taxpayers investments...kind of a double whammy on those unfortunate souls.

Elon Musk's paper windfall has brought out the worst in Leftist charlatans like Warren and Sanders, who implausibly make absurd claims like, "If the billionaires and the trillionaire paid their 'fair share' we could eliminate child poverty!"

And you thought they were already pretty disgusting before Musk's windfall.

We embraced Supply Side Economics almost 50 years ago
The promise was give economic incentives to the wealthy and it will “trickle down” in jobs and more prosperity for working Americans

Instead….they just kept the money

There has been a dramatic shift in National wealth from working Americans to the wealthy.

Wages have been stagnant, benefits cut, job security gone
The American Dream is slipping away.

 

[rightwinger]

Well then 'labor' can start businesses and claim 100% of the wealth so go do that and stop trying to steal everyone elses wealth.

Or labor can start to unionize again and demand a larger share of profits

 

[BluesLegend]

Or labor can start to unionize again and demand a larger share of profits

And it DEFLECTS. You just claimed that it's 'labor' that creates the wealth, so go right ahead. You don't need the 'rich' go create wealth and keep it all for yourselves.

Or admit you are a big fat 310 lb liar.

 

[Nostra]

Very true

And for the last 50 years we have been redistributing wealth from the working poor to the super rich

Link?

 

[Nostra]

The rich make a profit off of every job
It is labor that produces wealth

Why does "labor" keep working for the rich guy instead of just starting their own company, do nothing, and become rich?

 

[Nostra]

We embraced Supply Side Economics almost 50 years ago
The promise was give economic incentives to the wealthy and it will “trickle down” in jobs and more prosperity for working Americans

Instead….they just kept the money

There has been a dramatic shift in National wealth from working Americans to the wealthy.

Wages have been stagnant, benefits cut, job security gone
The American Dream is slipping away.

Must suck to not have any marketable skills, Trollwinger.

 

[eagle1462010]

I have a question. Why does it matter how you get to having to rich to pay more?

It seems to me that if you agree that the rich need to pay more in taxes, arguing about how this is achieved seems kind of pedantic.


Also if you want the rates raised why are you going after "the left."

It isn't the left that lowered the rates to begin with. In fact, lowering them was the most significant policy iniative during Trump's first term. While locking those lower rates in, at the expense of social security, has been the most significant thing Republicans have done during this term.

By the way. Doesn't it bother you that Musk's company goes public at a valuation that doesn't follow the rules the SEC puts out for IPO's? That's Being done under a Republican, House, Senate, Presidency, and Supreme court.

The 50 year average Fed Revenue is 17.4% with tax rates varying.

Corporate Taxes are paid by the consumer. Tax the rich doesnt mean sh.it.

 

[Nostra]

Or labor can start to unionize again and demand a larger share of profits

Why go to all that trouble for peanuts when it's easy to start a company and get rich?