Forget "income tax", let's push for a "wealth tax". (politicians, retirement)

[alphamale]

Tax 10% annually for ALL assets over $5 MILLION, including cars, homes, boats, stocks, etc......

Let's see how many lefties in politics, entertainment and business will go for that!

[Stizzel]

Originally Posted by alphamale

Tax 10% annually for ALL assets over $5 MILLION, including cars, homes, boats, stocks, etc......

Let's see how many lefties in politics, entertainment and business will go for that!

If a wealth tax was established, I think a persons primary residence would have to be excluded.

[freightshaker]

Originally Posted by Totonu

Income tax is needed and a must. But we could tax at a lower rate.
Several states have NO state income tax though...

A system of taxation is needed, but income tax is not a necessity. There are other options that would be more equitable.

[Driller1]

Originally Posted by alphamale

Tax 10% annually for ALL assets over $5 MILLION, including cars, homes, boats, stocks, etc......

Let's see how many lefties in politics, entertainment and business will go for that!

Wealth is taxed.....when the money is made.

[doc1]

Any clue as to how many $$$ are socked away in retirement accounts (401K, IRA, SEP IRA...)?

I'm surprised politicians haven't just said "screw it, we want a chunk of that and we're going to get some".

Say, a graduated percentage on anything over $100,000.

[freightshaker]

Originally Posted by doc1

Any clue as to how many $$$ are socked away in retirement accounts?

I'm surprised politicians haven't just said "screw it, we want a chunk of that and we're going to get some".

Say, a graduated percentage on anything over $100,000.

It's coming.. Don't worry.

[wjtwet]

Whatever tax system we use, we need to end the corrupt IRS

[afoigrokerkok]

Originally Posted by Stizzel

If a wealth tax was established, I think a persons primary residence would have to be excluded.

Even if the value is over $5 million?

[marcopolo]

Originally Posted by afoigrokerkok

Even if the value is over $5 million?

We pay income tax when we make the money, sales taxes when we spend it, property taxes recurring every year on homes, vehicles, boats; estate and inheritance taxes when we die, etc.......and some of you people want to tax the leftovers again. Amazing. For gosh sakes, figure out how to be more worthwhile to the rest of society and make your own money.

[petch751]

Originally Posted by alphamale

Tax 10% annually for ALL assets over $5 MILLION, including cars, homes, boats, stocks, etc......

Let's see how many lefties in politics, entertainment and business will go for that!

lol, it will never happen. Tax the rich they chant but what they really meant and did was increase taxes on the working people. Some are too damn dumb to think it through and understand it. The politicians know it too so they'll continue to demonize "the rich" when they themselves are rich lol

People are so dumb when it comes to celebrities including our celebrity president.