This is why we need to tax the wealthy

[pknopp]

Huh ? .... Uh maybe you didn't understand the post... It's alright.

I directly quoted what was stated. Odd no one wants to actually discuss what they say. Stupid quips seems to be convincing to them.

 

[pknopp]

I don't but when I tell a liberal that I think physically able people should be working, not collecting welfare I'm usually asked why it is that I "hate" poor people!

OK but that doesn't answer my question does it?

 

[Oldestyle]

You are unable to comprehend what you read. Prohibiting people from being billionaires doesn't imply murdering anyone. The billionaires of today with their 300 billion dollars in assets should be required by the US government to take that money and reinvest it into their companies or/and charities. One person with that much power is dangerous for a democracy or any society.

I noticed that you didn't answer my point that wealthy people won't remain in the US if your policies were ever implemented. Great Britain tried to levy high taxes against their wealthy and it led to a flight of capital and ambitious people out of the country. The same thing that happened when New Jersey tried to do the same thing.

 

[pknopp]

I noticed that you didn't answer my point that wealthy people won't remain in the US if your policies were ever implemented. Great Britain tried to levy high taxes against their wealthy and it led to a flight of capital and ambitious people out of the country. The same thing that happened when New Jersey tried to do the same thing.

A very small number. Most have also went back.

 

[TruthNotBS]

I noticed that you didn't answer my point that wealthy people won't remain in the US if your policies were ever implemented. Great Britain tried to levy high taxes against their wealthy and it led to a flight of capital and ambitious people out of the country. The same thing that happened when New Jersey tried to do the same thing.

Again, you're not paying attention. Are these billionaires Americans? If they are, it doesn't matter if they leave, they still have to pay taxes and follow the rules. It should be prohibited by the US government to allow wealthy Americans to hide their money in foreign banks and assets. Everything has to be reported.

 

[Markle]

Because none of us here are budget experts. Yours is the dodge.

Malarkey.

Then how can you claim you know that to know that the rich should pay more? Surely, you have a figure in mind. Otherwise, how do you know the rich are not paying too much? Why should not everyone contribute to the running of our country?

 

[Oldestyle]

Depositing or moving assets abroad into tax havens should be prohibited for any American citizen. If one of these billionaires or millionaires with hundreds of millions of dollars decides to move out of the country they still wouldn't be able to do whatever they want overseas financially. When I lived overseas I still had to pay my taxes to Uncle Sam. The only way to release myself from that obligation is by relinquishing my American citizenship and getting another one.

No one can say with a straight face that the success of a state's economy relies on whether it has a state income tax or higher taxes for the rich. California is an example of a state that imposes quite high taxes on everyone, especially the rich and famous, and yet it's still an extremely prosperous state. Texas is the opposite of that when it comes to taxes and yet it's also a quite prosperous state. It's not all about tax rates.

Your posts are starting to border on the farcical, Christian! California is "extremely prosperous"? Is that what you call a State that is looking at an 86 billion dollar deficit? I'm sorry but California is FAR from prosperous at the moment! They are in deep shit. What do you think is going to happen when the cost of giving illegals Medicare hits California's budget?

 

[Markle]

Even better, just place me on ignore. Click "ignore".

What fun would that be? I'm retired, and I look forward to a chuckle from you.

 

[pknopp]

Malarkey.

Then how can you claim you know that to know that the rich should pay more?

Because we are $34 trillion in debt.

 

[Markle]

Defense (under Ike)

And they got their money from the Defense money farm?

 

[Oldestyle]

Depositing or moving assets abroad into tax havens should be prohibited for any American citizen. If one of these billionaires or millionaires with hundreds of millions of dollars decides to move out of the country they still wouldn't be able to do whatever they want overseas financially. When I lived overseas I still had to pay my taxes to Uncle Sam. The only way to release myself from that obligation is by relinquishing my American citizenship and getting another one.

No one can say with a straight face that the success of a state's economy relies on whether it has a state income tax or higher taxes for the rich. California is an example of a state that imposes quite high taxes on everyone, especially the rich and famous, and yet it's still an extremely prosperous state. Texas is the opposite of that when it comes to taxes and yet it's also a quite prosperous state. It's not all about tax rates.

Oh, so you're going to "prohibit" moving assets abroad for any American citizen? Let me explain to you what would happen if you ever WERE pushing such a piece of legislation through Congress! It would literally start a stampede of the ultra wealthy moving their assets out of the US BEFORE that law was in the books! If you want to absolutely cripple the US economy? What you're proposing is EXACTLY what you should do!

 

[Oldestyle]

OK but that doesn't answer my question does it?

I'm pretty sure the first two words of my post answered that question?

 

[pknopp]

I'm pretty sure the first two words of my post answered that question?

Fair enough so I will ask, why do you think so many are unwilling to pay for what they use?

 

[Markle]

Because we are $34 trillion in debt.

Then it seems logical that EVERYONE should pay something so that EVERYONE is concerned about the debt and not simply those who are paying.

 

[pknopp]

Then it seems logical that EVERYONE should pay something so that EVERYONE is concerned about the debt and not simply those who are paying.

I don't completely disagree with that but those making wages that place them in poverty are going to pay very little in covering our debt.

You seem to be more concerned over the poor as opposed to those who have benefitted the most.

 

[Oldestyle]

Again, you're not paying attention. Are these billionaires Americans? If they are, it doesn't matter if they leave, they still have to pay taxes and follow the rules. It should be prohibited by the US government to allow wealthy Americans to hide their money in foreign banks and assets. Everything has to be reported.

You can't seem to grasp the concept of what a law like that would result in, Christian! People with large amounts of wealth are very good at one thing...maintaining capital. They aren't going to allow you to come take it from them. I'm sorry but they're not! As soon as it looks like something like that would pass? The ultra wealthy will be consulting their tax advisors and lawyers and immediately getting as much of their wealth as they can OUT of the country! You're naive to a fault to think you're going to be smarter at this than they are! I'm sorry, but you live in fantasy land!

 

[pknopp]

You can't seem to grasp the concept of what a law like that would result in, Christian! People with large amounts of wealth are very good at one thing...maintaining capital. They aren't going to allow you to come take it from them. I'm sorry but they're not! As soon as it looks like something like that would pass? The ultra wealthy will be consulting their tax advisors and lawyers and immediately getting as much of their wealth as they can OUT of the country! You're naive to a fault to think you're going to be smarter at this than they are! I'm sorry, but you live in fantasy land!

80% tax on money that leaves the country. Just saying...................

 

[Oldestyle]

A very small number. Most have also went back.

If a Wealth Tax is Such a Good Idea, Why Did Europe Kill Theirs?

Senator Elizabeth Warren proposes a new kind of U.S. tax policy: a wealth tax. But the policy faces serious hurdles, including lessons from a failed experiment in Europe and a constitutional challenge

www.npr.org

 

[pknopp]

If a Wealth Tax is Such a Good Idea, Why Did Europe Kill Theirs?

Senator Elizabeth Warren proposes a new kind of U.S. tax policy: a wealth tax. But the policy faces serious hurdles, including lessons from a failed experiment in Europe and a constitutional challenge

www.npr.org

Europe isn't $34 trillion in debt. Pay for what you use. Don't leave it for future generations to address. It's not going to be pretty for them.

 

[TruthNotBS]

Malarkey.

Then how can you claim you know that to know that the rich should pay more? Surely, you have a figure in mind. Otherwise, how do you know the rich are not paying too much? Why should not everyone contribute to the running of our country?

They pay more money in taxes because they have more money. It's that simple. The more one benefits from the country's economy the more one contributes to its upkeep via taxes (local, state, and federal). Taxes are needed to keep the system running, without them local and state governments would be unable to fund anything without the federal government.