Wealth Tax: Yeah! Why do Warren Buffett and Bill gates need so much money in their Trust?

We could implement a flat tax and employers could collect and send the taxes to the US government then we could slash the IRS down to a fraction of its size to deal with the smaller part of the population that is self employed or owns businesses.
A flat tax would only make the gap between the rich and the poor wider than it is today:

What's Wrong With the American Tax System

"A flat, single rate of tax on all income has had some adherents, who emphasize its simplicity and argue that it would be fairer to charge all taxpayers the same rate.

"However, to raise the level of revenue required for government operations, it would be necessary to adopt a rate so high that the burden on lower-income taxpayers has been judged economically and politically unrealistic."

A flat tax is the only equitable tax.

and there is more than enough money if you get rid of all the deductions and convoluted tax laws.

in 2019 the total was were 18.6 trillion the revenue from income tax was 1.9 trillion a flat tax of 9.6% would have brought in the same revenue. And there would be savings from reducing the size of the IRS and getting rid of the expense of issuing refunds every year.

So your contention that a flat tax would have to be extremely high is wrong.
It's not fair, Romney pays less tax by percentage than his secretary does.
and
Clearly making everyone pay a flat tax would be a huge boon to the rich and is regressive.


I see both those thoughts expressed by the same people all the time and yet they are 100 percent contradictory.
 
No, I have noticed that....it might be working out for the few....the Govt....but the people aren't free and there is massive human rights issues there.....

Your link:

"Amnesty International has documented widespread human rights violations in China that were marked by a systematic crackdown on dissent.

"The justice system remained plagued by unfair trials and torture and other ill-treatment in detention. China still classified information on its extensive use of the death penalty as a state secret."

China is a one party authoritarian state with rampant human rights violations, but that doesn't change the fact their version of state capitalism is far more efficient than the US edition where private bankers on Wall Street command the economic heights.
 
No, I have noticed that....it might be working out for the few....the Govt....but the people aren't free and there is massive human rights issues there.....

Your link:

"Amnesty International has documented widespread human rights violations in China that were marked by a systematic crackdown on dissent.

"The justice system remained plagued by unfair trials and torture and other ill-treatment in detention. China still classified information on its extensive use of the death penalty as a state secret."

China is a one party authoritarian state with rampant human rights violations, but that doesn't change the fact their version of state capitalism is far more efficient than the US edition where private bankers on Wall Street command the economic heights.
hahaha yeah a private bank is committing widespread human rights violations and cracking down on dissent.....geez
 
Completely incorrect. Certainly under Capitalism, we have owners, and employees, but under Capitalism, there are no barriers to become an owner. An employee can become an owner, they can own their own property, and the fruits of their labor.
That's true since there is no legal prohibition preventing a worker from becoming an owner or shareholder. Ethical inhibitions from becoming rich by exploiting the labor of others present other problems.
No one's labor is exploited.

Every employee enters an employment contract by choice for an agreed upon wage.

If an employee is dissatisfied with the arrangement between him and his employer he can terminate that agreement at any time.
This is true, but the question also is this, do employers understand the geographical structure of the community in which it finds to operate in, and in this understanding can there be found the urges or tendencies (by some companies), to exploit the strained and hungry labor forces, otherwise knowing that they are just desperate enough to capitulate, and then obey to the point of becoming almost slaves to the system if the much needed competition in the area is few and far between ????

What about when the illegals were being worked in direct competition with Americans, and then they were winning out because they were illegal and cheap ??

Alot of bad things have went on in the past, and it's not so easily forgotten about.

I don't live in the past. And FWIW I think any business that hires illegals should be made to pay exorbitant fines.

And I'd like to know what percentage of businesses you think are guilty of the scenario you described.

Surely assuming all or most businesses do is incorrect
Not sure of the percentages, and yes not all are guilty of course, but the guilty are out there, and yes they are guilty.
 
Completely incorrect. Certainly under Capitalism, we have owners, and employees, but under Capitalism, there are no barriers to become an owner. An employee can become an owner, they can own their own property, and the fruits of their labor.
That's true since there is no legal prohibition preventing a worker from becoming an owner or shareholder. Ethical inhibitions from becoming rich by exploiting the labor of others present other problems.
No one's labor is exploited.

Every employee enters an employment contract by choice for an agreed upon wage.

If an employee is dissatisfied with the arrangement between him and his employer he can terminate that agreement at any time.
This is true, but the question also is this, do employers understand the geographical structure of the community in which it finds to operate in, and in this understanding can there be found the urges or tendencies (by some companies), to exploit the strained and hungry labor forces, otherwise knowing that they are just desperate enough to capitulate, and then obey to the point of becoming almost slaves to the system if the much needed competition in the area is few and far between ????

What about when the illegals were being worked in direct competition with Americans, and then they were winning out because they were illegal and cheap ??

Alot of bad things have went on in the past, and it's not so easily forgotten about.

I don't live in the past. And FWIW I think any business that hires illegals should be made to pay exorbitant fines.

And I'd like to know what percentage of businesses you think are guilty of the scenario you described.

Surely assuming all or most businesses do is incorrect
Not sure of the percentages, and yes not all are guilty of course, but the guilty are out there, and yes they are guilty.
and if it's a negligible percentage it's irrelevant
 
We could implement a flat tax and employers could collect and send the taxes to the US government then we could slash the IRS down to a fraction of its size to deal with the smaller part of the population that is self employed or owns businesses.
A flat tax would only make the gap between the rich and the poor wider than it is today:

What's Wrong With the American Tax System

"A flat, single rate of tax on all income has had some adherents, who emphasize its simplicity and argue that it would be fairer to charge all taxpayers the same rate.

"However, to raise the level of revenue required for government operations, it would be necessary to adopt a rate so high that the burden on lower-income taxpayers has been judged economically and politically unrealistic."

A flat tax is the only equitable tax.

and there is more than enough money if you get rid of all the deductions and convoluted tax laws.

in 2019 the total was were 18.6 trillion the revenue from income tax was 1.9 trillion a flat tax of 9.6% would have brought in the same revenue. And there would be savings from reducing the size of the IRS and getting rid of the expense of issuing refunds every year.

So your contention that a flat tax would have to be extremely high is wrong.
It's not fair, Romney pays less tax by percentage than his secretary does.
and
Clearly making everyone pay a flat tax would be a huge boon to the rich and is regressive.


I see both those thoughts expressed by the same people all the time and yet they are 100 percent contradictory.

so it's not fair that people pay the same percentage?

If there was a flat tax Romney would pay the same percentage not a lower percentage than his secretary

By definition treating everyone exactly the same is fairness.

A flat tax of just 9.6% would have brought in the exact same revenue as the monstrous convoluted tax system we have now and it has the added benefit of reducing government bureaucracy and saving money. If you don't like then then there is always a national sales tax instead of an income tax
 
If you don't like the American system's corruption, the last place you should admire is China, because it's basically what would happen here if we took corporatism even further but had a dictator controlling everything at the top.
I think the control of a state by any large interest group requires corruption, and I don't think any version of capitalism can exist without massive private corruption.

Imho, China's authoritarian one-party system of politics is exactly what (state) capitalism was created for:


Confronting the Challenge of Chinese State Capitalism

"China now has more companies on the Fortune Global 500 list than does the United States (124 versus 121), with nearly 75 percent of these being state-owned enterprises (SOEs).

"Three of the world’s five largest companies are Chinese (Sinopec Group, State Grid, and China National Petroleum).

"China’s largest SOEs hold dominant market positions in many of the most critical and strategic industries, from energy to shipping to rare earths.

"According to Freeman Chair calculations, the combined assets for China’s 96 largest SOEs total more than $63 trillion, an amount equivalent to nearly 80 percent of global GDP."

I don't have admiration for any edition of capitalism because of the degree of corruption required to sustain any economy built of exploitation and imperialism.
 
By definition treating everyone exactly the same is fairness.

I suspect other people have different definitions of "fairness". And most of them don't think of equality under the law as fairness. Our Constitution promises equal protection under the law. That doesn't guarantee fairness.
 
They suck the wealth that rightfully belongs to the Proletariat! We need Socialist Progressive Leaders to right this abortion!!
House flippers unite:auiqs.jpg:
fire_economy.png

"Who would have thought in 1947 that output of the country’s manufacturing sector would decline from one-quarter of the gross domestic product to close to 11 percent and would be surpassed by the output of a bunch of real estate agents and house flippers? "

America’s Path To A FIRE Economy
 
Most people think of it as a system where the wealth of one person can't go up without diminishing the wealth of another
How does one win the game of "Monopoly"?
1615490021800.jpeg

THE PAINFUL TRUTH: CAPITALISM IS A ZERO-SUM GAME

"To win the game of Monopoly, a player must buy up all the properties, purchase all the hotels, and accumulate all the money, stocks, and bonds.

"Durand continues: 'You win by bankrupting the other players, forcing them to pay rent every time they land on your property. You win by driving them into destitution so they can no longer continue to play.'"
 
Being deceived by misleading and deceptive contracts is never voluntary. It's fraud.
It's a form of systemic fraud and capitalism can't exist without it.

You're claiming capitalism can't exist without misleading and deceptive contracts. Care to back that up? What about capitalism depends on fraud?

Fraud detracts from, and undermines, capitalism.
 
Most people think of it as a system where the wealth of one person can't go up without diminishing the wealth of another
How does one win the game of "Monopoly"?
View attachment 466541
THE PAINFUL TRUTH: CAPITALISM IS A ZERO-SUM GAME

"To win the game of Monopoly, a player must buy up all the properties, purchase all the hotels, and accumulate all the money, stocks, and bonds.

"Durand continues: 'You win by bankrupting the other players, forcing them to pay rent every time they land on your property. You win by driving them into destitution so they can no longer continue to play.'"
In real life the other players have jobs and opportunity just like the lead player, but maybe not as fortunate. So they end up relying a little on the big guy, and if the big guy happens to be a good guy, then everybody wins. Although at different levels maybe, but everybody wins as long as the players are good. If get a bad player, then yes his or her whole goal is to bankrupt and destroy the other players, and take it all for his or herself.
 
We could implement a flat tax and employers could collect and send the taxes to the US government then we could slash the IRS down to a fraction of its size to deal with the smaller part of the population that is self employed or owns businesses.
A flat tax would only make the gap between the rich and the poor wider than it is today:

What's Wrong With the American Tax System

"A flat, single rate of tax on all income has had some adherents, who emphasize its simplicity and argue that it would be fairer to charge all taxpayers the same rate.

"However, to raise the level of revenue required for government operations, it would be necessary to adopt a rate so high that the burden on lower-income taxpayers has been judged economically and politically unrealistic."

A flat tax is the only equitable tax.

and there is more than enough money if you get rid of all the deductions and convoluted tax laws.

in 2019 the total was were 18.6 trillion the revenue from income tax was 1.9 trillion a flat tax of 9.6% would have brought in the same revenue. And there would be savings from reducing the size of the IRS and getting rid of the expense of issuing refunds every year.

So your contention that a flat tax would have to be extremely high is wrong.
It's not fair, Romney pays less tax by percentage than his secretary does.
and
Clearly making everyone pay a flat tax would be a huge boon to the rich and is regressive.


I see both those thoughts expressed by the same people all the time and yet they are 100 percent contradictory.

so it's not fair that people pay the same percentage?

If there was a flat tax Romney would pay the same percentage not a lower percentage than his secretary

By definition treating everyone exactly the same is fairness.

A flat tax of just 9.6% would have brought in the exact same revenue as the monstrous convoluted tax system we have now and it has the added benefit of reducing government bureaucracy and saving money. If you don't like then then there is always a national sales tax instead of an income tax
I never said it was not fair. I said the two thoughts I see posted by the same people here are contradictory.
 

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