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Sigh. OMG inflation! Sorry but inflation is a normal part of economics. At reasonable levels like we have-its good for us. I'd even argue it should be 1-1.5% higher then it is. And no, shadowstats is just a bunch of BS.
As for "OMG the corporations own us all" stuff....actually...I respect that. Cause its increasingly true. But you resolve it via regulations-changes. Not by saying "ahhh we give up!".
And the followup of calling me names, how my master must love me yada yada yada. Sure, whatever. Taxes ARE optional, you can choose to make less, you can choose to move, you can choose to avoid it completely by keeping your wages low. Thats a CHOICE. Course apparently by your argument a LOT of conservatives want to make us ALL slaves via a flat tax. nice!
Sigh. Id comment more, but im off to morning meetings.
your question doesn't make any sense to me, since your 2nd and 3rd categories (cap gains tax and dividend tax) are subgroups within your first category (income tax). capital gains and dividends are forms of income.
but assuming you meant "75% earned income tax", then it seems to resemble the united states' tax model. high wage taxes, but low capital gains / dividend / effective corporate taxes.
it is basically a "trickle down" tax model. people who earn wages get screwed. it will give huge benefits to people who inherit money, while penalizing someone like a high-earning neurosurgeon. like our system, it is backwards.
Why not take it all 100% give it all to the government and we then can go to government stores and get free stuff, free medical , free everything because the government has it all.
At least the dems would like that
Please cite a source or example of a Democrat running for any state or Federal political office in the last 20 years advocating such a thing.
We are damn close to that now. If you calculate all the taxes you pay (both direct and indirect) the vast majority of your income goes to taxes, and most of the rest goes to banks to pay interest.
They never abolished slavery... they only perfected it.
Sigh. OMG inflation! Sorry but inflation is a normal part of economics. At reasonable levels like we have-its good for us. I'd even argue it should be 1-1.5% higher then it is. And no, shadowstats is just a bunch of BS.
As for "OMG the corporations own us all" stuff....actually...I respect that. Cause its increasingly true. But you resolve it via regulations-changes. Not by saying "ahhh we give up!".
And the followup of calling me names, how my master must love me yada yada yada. Sure, whatever. Taxes ARE optional, you can choose to make less, you can choose to move, you can choose to avoid it completely by keeping your wages low. Thats a CHOICE. Course apparently by your argument a LOT of conservatives want to make us ALL slaves via a flat tax. nice!
Sigh. Id comment more, but im off to morning meetings.
Inflation is not a normal part of economics. Inflation is a direct result of the scheme known as the fractional banking where every dollar is borrowed into existence at interest. When you purchase an automobile for say $10000 you float a loan at interest which means the actual price of the vehicle is $10000+interest. The money used to purchase that vehicle never existed prior to your borrowing it and is loaned into existence at the point you sign the contract. The price of the vehicle has just been inflated via the interest on your signature on the loan. This same phenomena happens when the US government borrows the money it needs to place into circulation from the Federal Reserve.
If the Treasury printed the money the government needed as the Constitution dictates, and the fractional banking system was eliminated, there would be no inflation and your earning would not loose value when you attempted to save them.
Yes, the United States from 1935 to 1980...essentially.
The top marginal rate on income was 70-90%, capital gains was ~25%, and corporate while anywhere from 30-50% had so many loopholes it may as well have been flat 15%.
In 1941, the US declared war on the Axis and won 4 years later. But in 1935, the US declared war on success, and that battle is still being fought. Progressives are a stalwart bunch, and they clearly aren't ever surrendering until the entire country is in ashes.
The 90%+ rates were nominal rates, not effective rates. The effective (actual) rates paid by actual taxpayers were always much lower.
Inflation is not a normal part of economics. Inflation is a direct result of the scheme known as the fractional banking where every dollar is borrowed into existence at interest. When you purchase an automobile for say $10000 you float a loan at interest which means the actual price of the vehicle is $10000+interest. The money used to purchase that vehicle never existed prior to your borrowing it and is loaned into existence at the point you sign the contract. The price of the vehicle has just been inflated via the interest on your signature on the loan. This same phenomena happens when the US government borrows the money it needs to place into circulation from the Federal Reserve.
If the Treasury printed the money the government needed as the Constitution dictates, and the fractional banking system was eliminated, there would be no inflation and your earning would not loose value when you attempted to save them.
Maybe you should red up on why mild inflation is critical to a economy. If we eliminated inflation I assure you bad things would result.
Now if you were starting a completely new economy on Mars you might be able to create some theoretical economy without inflation, not sure how you would encourage certain activities in it, but from a theoretical sort of view it would make an interesting thesis. However we're way beyond that being any reasonable idea currently.
Interesting, I missed that reply to me. I took my 44% number from another study of taxation at the time. I assure you I didn't just estimate it. Even at the rate you indicated it is still FAR FAR higher then todays. But a long ways from 75% effective. Except...it was in regards to federal taxation, how much more did state taxes, and other taxation add to it? I suspect for many the effective hit 60%. But I have no actual numbers to figure that out with.
Maybe you should red up on why mild inflation is critical to a economy. If we eliminated inflation I assure you bad things would result.
Now if you were starting a completely new economy on Mars you might be able to create some theoretical economy without inflation, not sure how you would encourage certain activities in it, but from a theoretical sort of view it would make an interesting thesis. However we're way beyond that being any reasonable idea currently.
I am afraid it is you who need the education. Inflation does not create prosperity, at least not unless you are a banker. The elimination of the Federal Reserve would eliminate inflation, it is that simple.
I would like to see a tax system based on all income from all sources treated the same. As corporations are now legally considered individuals they would also be taxpayers (corporate income would be retained income left over after expenses including dividends). Once the individual's total income was determined it would be taxed at a fixed rate after a base deduction equal to the 85th percentile. Thus the 15% of the that benefit most from the protection of our society and government would pay for that protection while the rest of us in the lower 85% would go about our business.
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