Majority of Americans favor wealth tax on very rich: Reuters/Ipsos poll

[Markle]

the very fact you have to meet with a CPA to take advantage of the loopholes in our tax laws just highlights the problems with our tax code.

That you are too stupid to understand that really makes me wonder how you ever found the way to afford one.

They're tax deductions and tax laws. I'd love a tax system that was fair and did not require me to have hired a CPA to do and file my taxes for the past 40 years. We don't have that so I deal with REALITY.

Apparently you have never earned enough that you needed to hire an accountant or CPA to file your taxes. But I'M the one who is too stupid to recognize that I need help filing my Federal Tax Return each year so that I don't pay one thin dime more than what I owe. Wouldn't you do the same?

Maybe I am stupid, I didn't have MD, DDS, CPA, or Esq. after my name so I worked, worked hard, really hard, 60 - 70 hours a week. I loved what I was doing so it never seemed like a job. How about you?

 

[Markle]

View attachment 300791

Since the bottom 47% paid no Federal Income Taxes, how exactly does that work?

Washington Post

 

[Markle]

View attachment 300792

All the way up to two decades ago.

I have done this before but I’ll do it again for your edification, from (1963). It will do for our purposes. Anyone (a single person) earning $4,000 per year or less paid income tax at the rate of 20%. Adjusted for inflation, that would be $31,800.00 per year. That translates to everyone earning LESS THAN $31,800 PER YEAR TODAY WOULD PAY 20% INCOME TAX. Gosh, that sure would eliminate that 48% that pay no income tax today! Way to go!

As for the top rate of your beloved 91% in 1963, that was paid by those earning over $400,000.00 Adjusted for inflation, that would be $3,186,770.00 today. Do you want to tell us that 1% of the nation earns of 3.2 MILLION PER YEAR? Really?

In the same year, employees paid 3.625% for Social Security and the employer paid nothing. Not quite the 15.2% of today.

Now, do you really want to go back to those rates? Are you aware of the long, long list of deductions in 1963? All interest on everything and the list goes on.

Federal Income Tax Brackets for Tax Year 1962 (Filed April 1963)

FICA & SECA Tax Rates

The Inflation Calculator

 

[LuckyDuck]

WASHINGTON/NEW YORK (Reuters) - The idea of imposing a wealth tax on the richest Americans has elicited sharply divergent views across a spectrum of politicians, with President Donald Trump branding it socialist and progressive Democratic presidential contenders Senators Elizabeth Warren and Bernie Sanders prominently endorsing it.

snip

Among the 4,441 respondents to the poll, 64% strongly or somewhat agreed that “the very rich should contribute an extra share of their total wealth each year to support public programs” - the essence of a wealth tax. Results were similar across gender, race and household income. While support among Democrats was stronger, at 77%, a majority of Republicans, 53%, also agreed with the idea.

Majority of Americans favor wealth tax on very rich: Reuters/Ipsos poll

If this is true, then the experiment called the United States of America as we know it is done....

Well, I'm not even close to rich and never will be, however, I believe that the rich should pay no more percentage than lower income citizens. If taxes were say, 10% of your gross income and you made $10,000 for the year, you'd pay $1,000. If you made, $1,000,000, you'd pay $100,000. You paid more than the low income earner and thus a fair share, more than the lower income earner. Making the rich pay larger percentages than your average citizen is basically penalizing them for being successful. Why would you want to invent and create if you would only be penalized for doing so.
A good example are Communist and strict Socialist nations. There is no incentive, thus they send spies out to the west to steal technology and once stealing it, use it and/or adapt it for their use. Once this nation goes backwards and becomes a strict Socialist or Communist nation, all incentive and technological improvements decline.

 

[Harpy Eagle]

They're tax deductions and tax laws. I'd love a tax system that was fair and did not require me to have hired a CPA to do and file my taxes for the past 40 years. We don't have that so I deal with REALITY.

Yet you have still not said a bad word about it...seems you sort of like it, it gives you a chance to brag about using a CPA.

Apparently you have never earned enough that you needed to hire an accountant or CPA to file your taxes. But I'M the one who is too stupid to recognize that I need help filing my Federal Tax Return each year so that I don't pay one thin dime more than what I owe. Wouldn't you do the same?

The need for tax help has more to do with how you make it than how much you make.

Maybe I am stupid, I didn't have MD, DDS, CPA, or Esq. after my name so I worked, worked hard, really hard, 60 - 70 hours a week. I loved what I was doing so it never seemed like a job. How about you?

I am just a guy that spent 20 years serving his country in the Marine Corps, so no I was not getting rich during that time. Some weeks we worked 80 hours some we worked 30. I loved the Marines and my time there and would not have changed it for the world. After I got out I tried the 60-75 hour a week thing and decided I liked my family and golf more than I liked working so I went and got me a MS after my name and got me a job were I work about 40 hours a week give or take and pays me enough for the government to say I am in the top 10%. My wife makes close to what I do so between us we do pretty good, well enough that we can do whatever we want. I passed on jobs that offered me up to 20% more money but would have required me to work more hours, there are far too many other things more important than more money and work.

 

[LeftofLeft]

wealth tax is bullshit. its a penalty for being successful. The very very wealthy can just start investing more in other countries and take their wealth with them.

It is bullshit..... the Middle Class gets screwed paying more taxes.

The top 2 or 3 percent pay more tax than the bottom 90% already. not to mention, because of these people, many of the bottom 90% have jobs working in their corporations or do business WITH their corporations as vendors or customers. Yes by all means lets impose punishment on people just because they own things. Its a very soviet way of thinking. Lets punish until we drive them away.

At the same time, I do not trust the people who come up with these schemes. They start out by saying, just the very rich because they know most people dont have any love for them.After a while though, the threshold for what is considered "wealthy" will be lowered.

Only shows how much wealth they monopolize

If they don’t want to pay so much, they could share more of their wealth with their employees

They pay most of the egregious spending. What more do you want? At what point will your class warfare metrics be met?

We have undergone class warfare for decades

Class warfare against those who are not wealthy

That does not answer the question. You are intent on taking income and wealth from people who earned and risked capital to get where they are. To what point or level?

 

[LeftofLeft]

Hi

View attachment 300791

Lower rates yet the majority of the tax bill.

 

[j-mac]

I am just a guy that spent 20 years serving his country in the Marine Corps, so no I was not getting rich during that time. Some weeks we worked 80 hours some we worked 30. I loved the Marines and my time there and would not have changed it for the world. After I got out I tried the 60-75 hour a week thing and decided I liked my family and golf more than I liked working so I went and got me a MS after my name and got me a job were I work about 40 hours a week give or take and pays me enough for the government to say I am in the top 10%. My wife makes close to what I do so between us we do pretty good, well enough that we can do whatever we want. I passed on jobs that offered me up to 20% more money but would have required me to work more hours, there are far too many other things more important than more money and work.

Well Gator, wonderful story for you, and thank you for serving, from one vet to another. Now as for the story, all of these were your choices....And choices that puts you squarely in the crosshairs of the government declaring that YOU need to pony up more...Now, none of us are getting any younger, and my thoughts are that you are, like myself, headed toward retirement...Tell me why the government needs my hard earned money, more than I do in my retirement?

 

[Harpy Eagle]

Well Gator, wonderful story for you, and thank you for serving, from one vet to another. Now as for the story, all of these were your choices....And choices that puts you squarely in the crosshairs of the government declaring that YOU need to pony up more...Now, none of us are getting any younger, and my thoughts are that you are, like myself, headed toward retirement...Tell me why the government needs my hard earned money, more than I do in my retirement?

Well, I never said the government needs your money more than you do, but I will address your comments anyhow.

I believe two things in this matter...

1. It is immoral to be adding more than a trillion dollars a year to the national debt during a booming economy. I do not know if you have children or not, but I do and I think it is wrong they will have to pay for our excesses. Since we do not have a major party that will cut spending, I think it is our moral obligation to pay for what we spend. I do not want to pay any more in taxes than I do, trust me. I have basically zero deductions as I do not run my own business and I have only one child left to count as a dependent. The check I send to the IRS every April is growing each year and I am not thrilled about, but I am even less thrilled with ******* over my kids and grandkids. It is my belief that if everyone had to pay enough to cover our spending for even one year that there would be an outcry for spending cuts.

2. I also believe that the tax code should not be used for social engineering, just to raise funds to fund the government. I would love to see a flat tax across the board with zero credits or deductions. I have less issue with those better off paying a higher percent in taxes than I do with someone making the same as me getting to pay less because they might have a mortgage or more kids at home or any of 10000 other hoops the government has people jump through to get to pay less taxes.

oh and a third thing...thank you for your service!

 

[rightwinger]

Only shows how much wealth they monopolize

If they don’t want to pay so much, they could share more of their wealth with their employees

Why?

When your tab is $100.00 a restaurant, do you add $50.00 for the tip?

The next time the plumber comes out to your house, will you add 20% to the invoice as you always do?

No idea what that has to do with a progressive tax rate

 

[rightwinger]

They're tax deductions and tax laws. I'd love a tax system that was fair and did not require me to have hired a CPA to do and file my taxes for the past 40 years. We don't have that so I deal with REALITY.

Yet you have still not said a bad word about it...seems you sort of like it, it gives you a chance to brag about using a CPA.

Apparently you have never earned enough that you needed to hire an accountant or CPA to file your taxes. But I'M the one who is too stupid to recognize that I need help filing my Federal Tax Return each year so that I don't pay one thin dime more than what I owe. Wouldn't you do the same?

The need for tax help has more to do with how you make it than how much you make.

Maybe I am stupid, I didn't have MD, DDS, CPA, or Esq. after my name so I worked, worked hard, really hard, 60 - 70 hours a week. I loved what I was doing so it never seemed like a job. How about you?

I am just a guy that spent 20 years serving his country in the Marine Corps, so no I was not getting rich during that time. Some weeks we worked 80 hours some we worked 30. I loved the Marines and my time there and would not have changed it for the world. After I got out I tried the 60-75 hour a week thing and decided I liked my family and golf more than I liked working so I went and got me a MS after my name and got me a job were I work about 40 hours a week give or take and pays me enough for the government to say I am in the top 10%. My wife makes close to what I do so between us we do pretty good, well enough that we can do whatever we want. I passed on jobs that offered me up to 20% more money but would have required me to work more hours, there are far too many other things more important than more money and work.

Good life choice

When you die and look back on your life, you will remember the things you did and times you had with your family.......not how much money you made

 

[j-mac]

Well Gator, wonderful story for you, and thank you for serving, from one vet to another. Now as for the story, all of these were your choices....And choices that puts you squarely in the crosshairs of the government declaring that YOU need to pony up more...Now, none of us are getting any younger, and my thoughts are that you are, like myself, headed toward retirement...Tell me why the government needs my hard earned money, more than I do in my retirement?

Well, I never said the government needs your money more than you do, but I will address your comments anyhow.

I believe two things in this matter...

1. It is immoral to be adding more than a trillion dollars a year to the national during a booming economy. I do not know if you have children or not, but I do and I think it is wrong they will have to pay for our excesses. Since we do not have a major party that will cut spending, I think it is our moral obligation to pay for what we spend. I do not want to pay any more in taxes than I do, trust me. I have basically zero deductions as I do not run my own business and I have only one child left to count as a dependent. The check I send to the IRS every April is growing each year and I am not thrilled about, but I am even less thrilled with ******* over my kids and grandkids. It is my belief that if everyone had to pay enough to cover our spending for even one year that there would be an outcry for spending cuts.

2. I also believe that the tax code should not be used for social engineering, just to raise funds to fund the government. I would love to see a flat tax across the board with zero credits or deductions. I have less issue with those better off paying a higher percent in taxes than I do with someone making the same as me getting to pay less because they might have a mortgage or more kids at home or any of 10000 other hoops the government has people jump through to get to pay less taxes.

oh and a third thing...thank you for your service!

These, I must say Gator, are reasonable positions...I agee with much of what you say in this post other than a couple of things...

Addressing point one...

I am like you...Both my kids are grown and on their own (chuckle, wink, wink), so I have NO deductions...Ever since Trump's tax changes basically did away with Mortgage interest deductions and put everything on a standard deduction. It seems like my tax bill went up....But, I believe everyone of adult age in this country should pay the same percentage, that we agree to through our representitives...When a Federal tax was adopted, it was a flat 3% I think, and citizens filled out a postcard, with their incomes, and paid it....That is what should happen now....The complication of the code only makes it easier for a government to steal from the citizens...Now today I don't think 3% is feasable, but why not 10% or 15%? From every citizen that posts an income...

Point two....

If every citizen were truly paying a "flat tax", Do away with withholding, or at least only take the flat amount every week to break even when filing, then there would be no reason for someone to pay more based on income level....We shouldn't punish success...We should cheer it...With that said, I am a huge fan of the "penny plan" to address our debt...Government is bloated, and needs to at this point learn to tighten their belts....I have to do it, you have to do it....Why shouldn't they...

Anyway, as I said we aren't that far off from each other....And I think we are in similar situations in life....Thanks for your reply.

 

[j-mac]

Oh, and a post script here....

I also think that "Tax day" should be moved to the week before the election every year, that way people would have that experience of "writing that check" fresh in their minds when pulling the lever....

 

[Aldo Raine]

Well Gator, wonderful story for you, and thank you for serving, from one vet to another. Now as for the story, all of these were your choices....And choices that puts you squarely in the crosshairs of the government declaring that YOU need to pony up more...Now, none of us are getting any younger, and my thoughts are that you are, like myself, headed toward retirement...Tell me why the government needs my hard earned money, more than I do in my retirement?

Well, I never said the government needs your money more than you do, but I will address your comments anyhow.

I believe two things in this matter...

1. It is immoral to be adding more than a trillion dollars a year to the national debt during a booming economy. I do not know if you have children or not, but I do and I think it is wrong they will have to pay for our excesses. Since we do not have a major party that will cut spending, I think it is our moral obligation to pay for what we spend. I do not want to pay any more in taxes than I do, trust me. I have basically zero deductions as I do not run my own business and I have only one child left to count as a dependent. The check I send to the IRS every April is growing each year and I am not thrilled about, but I am even less thrilled with ******* over my kids and grandkids. It is my belief that if everyone had to pay enough to cover our spending for even one year that there would be an outcry for spending cuts.

2. I also believe that the tax code should not be used for social engineering, just to raise funds to fund the government. I would love to see a flat tax across the board with zero credits or deductions. I have less issue with those better off paying a higher percent in taxes than I do with someone making the same as me getting to pay less because they might have a mortgage or more kids at home or any of 10000 other hoops the government has people jump through to get to pay less taxes.

oh and a third thing...thank you for your service!

Perfect answer, end thread. Exactly what I have been advocating this whole time!
. Thank you for doing it in a much more concise way than I as well.

 

[Harpy Eagle]

Oh, and a post script here....

I also think that "Tax day" should be moved to the week before the election every year, that way people would have that experience of "writing that check" fresh in their minds when pulling the lever....

This is a great idea actually! I had not thought of it, but I love it

Though I guess it could backfire and all those people getting "refunds" might think life is great!

 

[jc456]

how so? dude, don't throw and go. explain your fking point.

My biggest complaint with income tax is that it requires government to monitor how everyone makes a living. It requires us to document our financial activities and report them to the government. Sales tax has the same problem, and is arguably worse because it interferes with every single trade transaction. This means you risk running afoul of the law multiple times a day.

Could you please explain that one? How does sales tax make one run the risk of breaking the law?

If you don't document the sale and pay the tax correctly.

That's on the vendor, not the vendee.

So what?

so what? dude, come on man, you can't really be that stupid. have some fking integrity

 

[jc456]

Well Gator, wonderful story for you, and thank you for serving, from one vet to another. Now as for the story, all of these were your choices....And choices that puts you squarely in the crosshairs of the government declaring that YOU need to pony up more...Now, none of us are getting any younger, and my thoughts are that you are, like myself, headed toward retirement...Tell me why the government needs my hard earned money, more than I do in my retirement?

Well, I never said the government needs your money more than you do, but I will address your comments anyhow.

I believe two things in this matter...

1. It is immoral to be adding more than a trillion dollars a year to the national debt during a booming economy. I do not know if you have children or not, but I do and I think it is wrong they will have to pay for our excesses. Since we do not have a major party that will cut spending, I think it is our moral obligation to pay for what we spend. I do not want to pay any more in taxes than I do, trust me. I have basically zero deductions as I do not run my own business and I have only one child left to count as a dependent. The check I send to the IRS every April is growing each year and I am not thrilled about, but I am even less thrilled with ******* over my kids and grandkids. It is my belief that if everyone had to pay enough to cover our spending for even one year that there would be an outcry for spending cuts.

2. I also believe that the tax code should not be used for social engineering, just to raise funds to fund the government. I would love to see a flat tax across the board with zero credits or deductions. I have less issue with those better off paying a higher percent in taxes than I do with someone making the same as me getting to pay less because they might have a mortgage or more kids at home or any of 10000 other hoops the government has people jump through to get to pay less taxes.

oh and a third thing...thank you for your service!

Perfect answer, end thread. Exactly what I have been advocating this whole time!
. Thank you for doing it in a much more concise way than I as well.

when did your opinion become law? explain.

 

[Aldo Raine]

Well Gator, wonderful story for you, and thank you for serving, from one vet to another. Now as for the story, all of these were your choices....And choices that puts you squarely in the crosshairs of the government declaring that YOU need to pony up more...Now, none of us are getting any younger, and my thoughts are that you are, like myself, headed toward retirement...Tell me why the government needs my hard earned money, more than I do in my retirement?

Well, I never said the government needs your money more than you do, but I will address your comments anyhow.

I believe two things in this matter...

1. It is immoral to be adding more than a trillion dollars a year to the national debt during a booming economy. I do not know if you have children or not, but I do and I think it is wrong they will have to pay for our excesses. Since we do not have a major party that will cut spending, I think it is our moral obligation to pay for what we spend. I do not want to pay any more in taxes than I do, trust me. I have basically zero deductions as I do not run my own business and I have only one child left to count as a dependent. The check I send to the IRS every April is growing each year and I am not thrilled about, but I am even less thrilled with ******* over my kids and grandkids. It is my belief that if everyone had to pay enough to cover our spending for even one year that there would be an outcry for spending cuts.

2. I also believe that the tax code should not be used for social engineering, just to raise funds to fund the government. I would love to see a flat tax across the board with zero credits or deductions. I have less issue with those better off paying a higher percent in taxes than I do with someone making the same as me getting to pay less because they might have a mortgage or more kids at home or any of 10000 other hoops the government has people jump through to get to pay less taxes.

oh and a third thing...thank you for your service!

Perfect answer, end thread. Exactly what I have been advocating this whole time!
. Thank you for doing it in a much more concise way than I as well.

when did your opinion become law? explain.

Never said it did, explain!!!

 

[jc456]

They manipulate the system so that it does allow it. That’s why the tax code is complex. They don’t want a simple tax code since that can’t be manipulated.

You don’t know anything about me. I do very well for myself.

IF you're doing very well, then you're part of the households that pay Federal Income Taxes. Come April 15th of this year, when you mail in your tax return, will you calculate them so you the most possible or the least you can legally pay?

I pay what I should. I don’t use loopholes and take advantage of the law.

Typical, dodging the question.

Come April 15th of this year, when you mail in your tax return, will you calculate them so you pay the most possible or the least you can legally pay?

I have been a Realtor for over 45 years. As such, I worked as an independent contractor, in business for myself. As such, when I would buy a new computer, take a class in New Orleans, or buy an SUV instead of a luxury car, I could deduct all those things from my gross income. Should I have NOT taken those deductions because you could not? Was that a loophole? Certainly not.

It’s a dishonest question. There’s a lot of difference between “pay the most” or “pay the least”.

You aren’t using any loopholes because average people don’t have the means or capability to do so. Loopholes are for the elite.

which loopholes are those? I see you have zero principles.

 

[jc456]

Well Gator, wonderful story for you, and thank you for serving, from one vet to another. Now as for the story, all of these were your choices....And choices that puts you squarely in the crosshairs of the government declaring that YOU need to pony up more...Now, none of us are getting any younger, and my thoughts are that you are, like myself, headed toward retirement...Tell me why the government needs my hard earned money, more than I do in my retirement?

Well, I never said the government needs your money more than you do, but I will address your comments anyhow.

I believe two things in this matter...

1. It is immoral to be adding more than a trillion dollars a year to the national debt during a booming economy. I do not know if you have children or not, but I do and I think it is wrong they will have to pay for our excesses. Since we do not have a major party that will cut spending, I think it is our moral obligation to pay for what we spend. I do not want to pay any more in taxes than I do, trust me. I have basically zero deductions as I do not run my own business and I have only one child left to count as a dependent. The check I send to the IRS every April is growing each year and I am not thrilled about, but I am even less thrilled with ******* over my kids and grandkids. It is my belief that if everyone had to pay enough to cover our spending for even one year that there would be an outcry for spending cuts.

2. I also believe that the tax code should not be used for social engineering, just to raise funds to fund the government. I would love to see a flat tax across the board with zero credits or deductions. I have less issue with those better off paying a higher percent in taxes than I do with someone making the same as me getting to pay less because they might have a mortgage or more kids at home or any of 10000 other hoops the government has people jump through to get to pay less taxes.

oh and a third thing...thank you for your service!

Perfect answer, end thread. Exactly what I have been advocating this whole time!
. Thank you for doing it in a much more concise way than I as well.

when did your opinion become law? explain.

Never said it did, explain!!!

sure you did, in that post. you said it was immoral to add more than a trillion dollars, why didn't you say so when obammy did it? seems you are immoral because you have no consistency with respect to the law. therefore you believe your opinion rules. well, knock knock, nope!