What happens when we tax the rich.

[Blaster]

Untrue. Moar people work than do not work. The system is set up to give huge tax breaks to the wealthy.

So you would rather have a consumption tax?

 

[ReinyDays]

Money is taken from people that produce goods, services, and employment and is given to people who don't.

Hey Middle Class ... money to produce goods, services and employment is already tax deductible ... we tax income, not revenue or capital ... we tax the money that doesn't produce goods, services and employment ... the earnings ...

That's okay ... this government shutdown is what will pay for the tax breaks for The Rich ... starting with the repeal of the 3.8% Medicaid Surtax on unearned income over a few million IIRC ... the Middle Class will have to start paying for their own health care ...

This is what we voted for ...

 

[Moonglow]

So you would rather have a consumption tax?

We already have a tariff tax, and a sales tax on every item. How about politicians stop overspending?

 

[Woodznutz]

Very quaint idea that simply isn't true anymore. there aren't a lot of large sole owner companies. The investor class largely invests for profits. They don't produce anything. They have no production vision and will gladly move from one company to another if the money is better.

You're talking about the stock market I assume. I agree somewhat. Stock trading doesn't produce anything.

 

[Woodznutz]

We already have a tariff tax, and a sales tax on every item. How about politicians stop overspending?

Citizens have to do their part by reducing consumer debt.

 

[Moonglow]

You're talking about the stock market I assume. I agree somewhat. Stock trading doesn't produce anything.

Unless yer a stockbroker.

 

[Woodznutz]

Unless yer a stockbroker.

Brokers are just middlemen; they produce nothing as well. They just facilitate stock sales.

 

[Woodznutz]

Our economy is built on three things.

Mass production.
Mass marketing.
Consumer credit.

A perfect storm.

 

[Moonglow]

Brokers are just middlemen; they produce nothing as well. They just facilitate stock sales.

and earn a commission from it.

 

[Fort Fun Indiana]

Money is taken from people that produce goods, services, and employment and is given to people who don't.

A stupid lie, of course.

I'm pretty sure even peole who work use roads, need Healthcare, want to retire without liv8ng in a box, etc.

 

[Dekster]

You're talking about the stock market I assume. I agree somewhat. Stock trading doesn't produce anything.

Even private companies i.e. "venture capital" does it, perhaps even more so. They'll buy off some division of a company thinking they can make money, and if they can't, they'll just offload it onto someone else and take their investment dollars elsewhere. Dyson is the only company I can think of off the top of my head that genuinely has an owner that produces a lot of goods and hires a lot of people. I think they have 14-15K workers and $6B in annual revenue.

 

[Woodznutz]

and earn a commission from it.

That's their "product"?

 

[gipper]

The problem isn’t the ‘rich.’ It’s the super rich. The ******* billionaires who own and control government, media, science, healthcare, etc.

https://archive.ph/2018.11.09-17272...-one-vote-not-really-one-person-one-vote.html

Here’s how billionaires control the U.S. Government.

Only Billionaires Determine Who Can Win National Government Offices in the U.S.

 

[Woodznutz]

A stupid lie, of course.

I'm pretty sure even people who work use roads, need Healthcare, want to retire without liv8ng in a box, etc.

Working people largely provide those things for themselves.

 

[Woodznutz]

The middle class always feels the pain and the rich have tax shelters.

The middle class is being "hollowed out"; many are advancing to the upper class.

 

[Woodznutz]

What "rich" people are not presently taxed, one way or another?
The childishly ridiculous idea that taxing the rich would pay down the national debt and/or alleviate other taxation has so basis in math. A reasonable management of the total "wealth pie" is something that we could discuss, and it is clear that too much of that pie is immobilized by too few participants. Taxes may not be the term to use. A little intelligence on the part of those "too few participants" would lead them to learn from history, stay ahead of the curve, and just, simply, share. They would still remain tremendously wealthy while also maintaining their health.

The rich share the milk, but not the cow.

 

[Dekster]

The middle class is being "hollowed out". Many are advancing to the upper class.

But are they really when you think about it? I mean technically my wife and I have made that jump but in the end we won't be by the time we put 3 kids through college, retire a little early, and have to start paying taxes on all that tax-deferred money we have piled into the retirement accounts. From my perspective we are just locked into the comfortably middle class for the rest of our lives. If you take into account future realistic expenses, we are really just pre-paying for the ordinary.

 

[Woodznutz]

What "rich" people are not presently taxed, one way or another?
The childishly ridiculous idea that taxing the rich would pay down the national debt and/or alleviate other taxation has so basis in math. A reasonable management of the total "wealth pie" is something that we could discuss, and it is clear that too much of that pie is immobilized by too few participants. Taxes may not be the term to use. A little intelligence on the part of those "too few participants" would lead them to learn from history, stay ahead of the curve, and just, simply, share. They would still remain tremendously wealthy while also maintaining their health.

Neither the rich nor the government will solve our economic problems. Therefore, the people must step up. We must reduce our debts, care for our health, and stay out of prison.

 

[Hellokitty]

Why are liberals not demonizing and threatening the rich in their party?
Rich celebrities who take millions in order to tell you who to vote for. Why are liberals not shaming these people and demanding they do this stuff for free and stop taking tax breaks?

 

[my2¢]

The trouble with the rich and the tax code is that the tax on wealth is low or non-existent, while the tax on income is high. Those who's labor provides their income are hit with the highest tax rates.

I prefer no tax on wealth at all and that all actual income be taxed equally, regardless of where the money comes from. I'm for a single tax rate but let's not discriminate one source of money over any other. If we've to level the field, it should be level in all regards.

For example, the federal tax liability should be no less for a person inheriting $90,000 than for somebody who has labored to earn $90,000. A tax base universally broad and wide provides the ability for the lowest tax rate needed for federal revenue.