Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
For those on the Right, thanks for being suckers and fools, playing right into the Göbbels-Game.
For those on the Left, thanks for your continued efforts to mislead and deceive everyone.
Okay, so I revert to my initial honest question. If it truly is about wealth, how do you propose to fix the problem? Does the government just take from those above a certain level of wealth and distribute to those below said line?
That's consistently the one thing always missing from the discussion by those decrying the inequality. How do we fix it.
That's not it at all. Apple's CEO can make as much as Apple wants to pay him. Allowing Apple to acquire land for far less than market value and a host of other exemptions and incentives... incentives? We really need to incentivise Apple? Oil Companies? When the CEO of Apple does not have to pay the same tax rate as a burger flipper... ... flat tax my patootie.
Help me with those numbers. A burger flipper making minimum wage of $15,080 is in a 10% tax bracket. So with a standard deduction of $3950, he would pay $1113 FIT, or 7.4%.
The CEO of Apple would pay 39.6% on , most of his regular income and 18.8% on capital gains. So even if 100% of his pay is capital gains, he would pay 18.8%.
I have to admit the flat tax arguments that have exemptions for the first X of income, and Y per child appeal to me. I don't feel that taxing that which is needed to survive is right.
But when I start looking at reasonable flat tax solutions-with things like the exemptions for peoples basic needs not being taxed....I start getting back to something resembling our current system, seeing tons of ways to abuse it, then you start adding stuff to stop that....and all too often I end up seeing something VERY similiar to our current system.
I would have no issue with going to a flat tax system that started at a certain income level that is annually adjusted based upon inflation alone, but it needs to be very simple with maybe have three levels.
Let's say the flat tax was 20%. It would be 10% for everyone making above $20k, 15% for up to $25k and 20% once you hit $30k. If inflation rises by 2% the following year, anybody making under $20,400 wouldn't pay a tax of 10%, and the next two levels would increase by 2% as well.
I wouldn't want any deductions for kids or anything else.
With such a system, almost everyone would have skin in the game, people who don't pay in wouldn't be receiving a check back, there wouldn't be all of these "loopholes" that most people could only take advantage of if they have the right lawyers and accountants.
Technically, yes, but it splintered off to income long ago.
Additionally, I don't want to fix wealth. Wealth comes about by spending less than you take in. I'm working toward "wealth" by contributing to my 401k, buying stocks and owning my home. By the time I retire, my wealth should be way above a million dollars. I don't need anyone to "fix" my "wealth" at that time just because I may be in the top X% once it's all said and done.
I also don't feel we need to "fix" the wealth of anyone else.
The government has no business in the redistribution of wealth.
Technically, yes, but it splintered off to income long ago.
Additionally, I don't want to fix wealth. Wealth comes about by spending less than you take in. I'm working toward "wealth" by contributing to my 401k, buying stocks and owning my home. By the time I retire, my wealth should be way above a million dollars. I don't need anyone to "fix" my "wealth" at that time just because I may be in the top X% once it's all said and done.
I also don't feel we need to "fix" the wealth of anyone else.
The government has no business in the redistribution of wealth.
The reason none of you want to go near the 5,000lb Mastadon of Wealth is because none of you built dat. Wealth comes from spending less than you take in... ... I guffaw in your general direction. Wealth comes from having parents and grandparents that made money while they slept. You could do that until the 21st Century. And you could pass that wealth on and now you guys have it. Your houses, inherited, or downpayment courtesy of mom and dad, your first and second cars, bought by mom and dad. Your college tuition, mom and dad. Your BS little jobs can barely keep you afloat but you carp on City Data about wealth... ... and look down your noses on people that are smarter, have more integrity and are plain... better... but they aren't wealthy. Will never be wealthy... you don't think the outsourcing of 30 million living wage jobs will have an effect on future wealth? But here is the kicker... no one reading this has any idea of what it must be like to be in the middle of a net worth in the hundreds of millions of dollars. Thats Wealth. And with Wealth like that you can make things happen. Things that do not necessarily benefit High School Physics teachers or Software Engineers for that matter. Some attempt to redistibute Mastadonian levels of wealth had better be made or the measly scrapings that you lot mistake for real wealth are going to go away. It's going to be a real eye opener.
The reason none of you want to go near the 5,000lb Mastadon of Wealth is because none of you built dat. Wealth comes from spending less than you take in... ... I guffaw in your general direction. Wealth comes from having parents and grandparents that made money while they slept. You could do that until the 21st Century. And you could pass that wealth on and now you guys have it. Your houses, inherited, or downpayment courtesy of mom and dad, your first and second cars, bought by mom and dad. Your college tuition, mom and dad. Your BS little jobs can barely keep you afloat but you carp on City Data about wealth... ... and look down your noses on people that are smarter, have more integrity and are plain... better... but they aren't wealthy. Will never be wealthy... you don't think the outsourcing of 30 million living wage jobs will have an effect on future wealth? But here is the kicker... no one reading this has any idea of what it must be like to be in the middle of a net worth in the hundreds of millions of dollars. Thats Wealth. And with Wealth like that you can make things happen. Things that do not necessarily benefit High School Physics teachers or Software Engineers for that matter. Some attempt to redistibute Mastadonian levels of wealth had better be made or the measly scrapings that you lot mistake for real wealth are going to go away. It's going to be a real eye opener.
H
I usually don't copy and paste others post, but informedconsent just did an amazing job explaining why your position is wrong, save myself and others a little bit of time. See bellow
The bottom 40% are inheriting a significantly larger percentage of their wealth than is the top 1% (net worth of ~$7 million or more). The top 1% is far more likely to be creating their own wealth. ...
Last edited by shooting4life; 01-29-2015 at 11:34 AM..
Wealth comes from spending less than you take in...
Yes.
Quote:
Wealth comes from having parents and grandparents that made money while they slept.
Not so much. The BLS has studied this and found that most wealthy people have EARNED/CREATED their own wealth:
Quote:
"Wealth transfers — inheritances and gifts combined — constitute a small part of the holdings of the rich, whether you define “rich” in terms of income or net worth. For the top income quintile, gifts and inheritances amount to 13 percent of household wealth, according to research published by the Bureau of Labor Statistics. For the top wealth quintile, they amount to 16 percent. For the hated “1 percent,” inherited wealth accounts for about 15 percent of holdings.
...Meanwhile,inherited money makes up 43 percent of the wealth of the lowest income group and 31 percent for the second-lowest."
The bottom 40% are inheriting a significantly larger percentage of their wealth than is the top 1% (net worth of ~$7 million or more). The top 1% is far more likely to be creating their own wealth.
I usually don't copy and past others post, but informedconsent just did an amazing job explaining why your position is wrong, save myself and others a little bit of time. See bellow
You beat me to it.
It's amazing what the lefty propagandists can get their voter base to believe. Do they ever question anything they're spoon-fed? Or do they just parrot everything they're told?
It's amazing what the lefty propagandists can get their voter base to believe. Do they ever question anything they're spoon-fed? Or do they just parrot everything they're told?
I'm convinced they get a talking points email every few days, it is the only thing that makes sense. The same people, in unison, have the same wording, create threads on the same topic with the same titles.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
