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Old Yesterday, 07:30 PM
 
Location: *
8,177 posts, read 2,471,492 times
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Quote:
Originally Posted by InformedConsent View Post
Regardless, his quote stands. He advocates a flat tax rate: "in proportion to."

Do we need to go over what "in proportion to" is again?
It's 9th grade math: https://www.mathsisfun.com/algebra/proportions.html

Compare & contrast:

"The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities."
~Adam Smith (1776)

"From each according to his ability, to each according to his needs."
~Karl Marx (1875)
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Old Yesterday, 07:43 PM
 
19,199 posts, read 9,783,045 times
Reputation: 5373
Quote:
Originally Posted by ChiGeekGuest View Post
Compare & contrast:

"The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities."
~Adam Smith (1776)

"From each according to his ability, to each according to his needs."
~Karl Marx (1875)
Thatís called slavery!
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Old Yesterday, 08:33 PM
 
Location: *
8,177 posts, read 2,471,492 times
Reputation: 2258
“A man must always live by his work, and his wages must at least be sufficient to maintain him. They must even upon most occasions be somewhat more; otherwise it would be impossible for him to bring up a family, and the race of such workmen could not last beyond the first generation.”

“No society can flourish of which the greater part is poor and miserable”

― Adam Smith, The Wealth of Nations
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Old Yesterday, 08:45 PM
 
273 posts, read 48,741 times
Reputation: 282
To answer the topic question:

Any "wealth", but especially fiat money, is a product of the society. No society = no wealth. What any billionaire gonna do with all his money on the uninhabited island? Just die. So, "rich" benefits the most from the society - because they are getting the most from the society in exchange for the wealth. That's why they should pay more.

And, to be honest, "rich" exploit society way more than any ordinary citizen (hint: corp taxes, or, better say, the lack of them in reality), so it's only fair to tax them sky high: if any of them have more than 1mln/year left after taxes, these taxes are too low.

But what I don't agree on is where those taxes go to after they are paid. It's much better to create some govt jobs where all homeless/low income/whatever will be employed instead of just giving those money away as "benefits" - that was the worst idea ever. Those artificial govt jobs could be however useless and stupid, but no one should have money for free while doing nothing.

Last edited by kanonka; Yesterday at 08:55 PM..
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Old Yesterday, 10:03 PM
 
Location: Stillwater, Oklahoma
15,424 posts, read 13,491,325 times
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Quote:
Originally Posted by Quick Enough View Post
" I wouldn't mind paying more" You say that NOW BUT?????


Besides the "rich" CURRENTLY pay MORE of ALL income taxes the fed takes in and some whine and cry that is N OT enough!


"What percentage of taxes are paid by the rich?In 2016, the top 1 percent of taxpayers accounted for more income taxes paid than the bottom 90 percent combined. The top 1 percent of taxpayers paid roughly $538 billion, or 37.3 percent of all income taxes, while the bottom 90 percent paid about $440 billion, or 30.5 percent of all income taxes.Nov 13, 2018

Summary of the Latest Federal Income Tax Data, 2018 Update


https://taxfoundation.org/summary-latest-federal-income-tax-data-2018-update/
So what is the point? The wealthy combined will always pay a hell of a lot more in taxes than everybody else even if everybody paid the same in percentage of income.
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Old Yesterday, 10:12 PM
 
Location: Stillwater, Oklahoma
15,424 posts, read 13,491,325 times
Reputation: 4689
Quote:
Originally Posted by tinytrump View Post
So they can get into heaven - if you have so much money canít spend it all - canít give out more jobs and itís just siting there collecting dust and do not help your fellow man ? 2- you May not be aware , but your lawyers know it not 100 tight in how you do things. 3 - make you a better person, most elites are bustards . There are those like Gates who got it - and 1/2 is given away - plus they invest heavily in charities for peace of minds.
Some billionaires can be mighty generous. A Tulsa billionaire donated nearly a half billion so Tulsa could build an amazing world class city park. That was quite a good deal for the local common good, much better than Tulsa leaders asking voters to approve raising city sales tax for a great park.
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Old Yesterday, 10:43 PM
 
Location: Stillwater, Oklahoma
15,424 posts, read 13,491,325 times
Reputation: 4689
Quote:
Originally Posted by MarshaBrady1968 View Post
I am about as far to the left as you can get, and I actually do not believe the rich should be taxed higher.
What makes more sense to me is to have a straight tax percentage across the board (a high one- I AM to the left after all), and REMOVE any and all tax loopholes.
Yes, people will find a way around it, and rich may continue to hide money overseas, and otherwise launder money, but if we conduct ourselves and our laws to always look for how to punish wrong-doers rather than how to reward right-doers, we will have onehelluva ridiculous existence.
No, instead have a national sales tax for everybody. The rich won't feel compelled to hide money overseas, and if they think the sales tax is too high they can simply cut it by buying less stuff. Lots of people would love a sales tax, since nobody would have to see a professional to pay taxes. The poor could get a partial refund. Other supporters would want everybody, rich or poor, entitled to a partial refund.
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Old Yesterday, 10:52 PM
 
Location: Stillwater, Oklahoma
15,424 posts, read 13,491,325 times
Reputation: 4689
Quote:
Originally Posted by hawkeye2009 View Post
I completely disagree. It is primarily hard word and education. Luck is a component, but a small one.


Most people who are not wealthy say that "luck" or "inheritance" is the main factor in becoming wealthy. That is a complete fantasy, yet excuses the individual who has not achieved wealth, as those factors are beyond one's control. One does not have to practice introspection and responsibility when "luck" is the main factor in determining a certain outcome. The only time "luck" really comes into play is if someone is a lottery winner.


If you have not become wealthy, blame yourself; wealth is due to hard work and dedication, not luck.
It's doesn't have to be about hard work to become wealthy. It can come from smartly observing what is going on around you. From observing, it helps to have a good business instinct and intuition, that would have come years ago from watching Wal-Mart in your town drive out of business all its competing stores and sensing I gotta buy stock in that and decades later you're now a millionaire. That wasn't me, but I wish it had been.
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Old Yesterday, 11:02 PM
 
Location: Stillwater, Oklahoma
15,424 posts, read 13,491,325 times
Reputation: 4689
Quote:
Originally Posted by middle-aged mom View Post
Generally speaking, the poor donít pay Federal taxes. The 2017 Tax Reform double downed on this and doubled the Child Tax Credit and did not touch the Earned Income Tax Credit.
So yes or no, should the poor pay a less percentage of taxes than the wealthy, including it be 0%?
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Old Yesterday, 11:18 PM
 
Location: Stillwater, Oklahoma
15,424 posts, read 13,491,325 times
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Quote:
Originally Posted by Enigma777 View Post
Why should they pay less?

And why does the GOP feel the wealthy need an emergency tax cut? Why are only liberal outlets even reporting this?

Cruz, et. al. go directly to Mnuchin to ask for an executive order tax cut for the wealthiest in the country? And everyone is ok with this? Done this way? A bunch of Republicans want it, so sneakily go in the back door to get a magic tax cut? So much for transparency. It stinks.

"...Sen. Ted Cruz, R-Texas, a longtime critic of presidents who use executive action, sent a letter signed by 20 of his Republican colleagues asking the Trump administration to unilaterally slash taxes for the rich.

The Republican senators sent a letter to Treasury Secretary Steven Mnuchin on Monday asking him to use his ďauthorityĒ to index capital gains to inflation. The move would allow investors to pay lower taxes on profits made from selling real estate, stocks or bonds by adjusting the original purchase price so that there would be no tax liability on appreciation tied to inflation...."

https://www.salon.com/2019/07/31/ted...e-rich-please/

https://www.bloomberg.com/news/artic...ains-tax-break

https://www.salon.com/2019/07/31/ted...e-rich-please/
And then Trump joins them in running up national debt. If you don't agree with how they run government, then quit rewarding them by voting to keep them at every term.
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