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.
I never said income tax. You popped up an income tax chart. What you have to compare is capital gain taxes. Most very wealthy don't pay any or very little in income tax. They receive most of their money from capital gains which is taxed at 15%. Now compare that to the income taxes of the countries on your little chart and then put that in your pipe and smoke it.
Lets triple Cap Gains, how much would it raise in revenue?
Lets triple Cap Gains, how much would it raise in revenue?
You mean put the capital gains tax to what it once was? I have no idea how much it would raise in revenue, but it would increase velocity which would improve the economy by putting more money in circulation...if the govt. does not give it to the banks to hoard.
Lets triple Cap Gains, how much would it raise in revenue?
Lets just confiscate your two cents and the other people with two cents who want to confiscate other people's hard earned money and see how it goes? Fairness, right?
So you want the government to take money from the wealthy and the corporations and do what with it..hand it to you ?
They already are via welfare, food stamps, unemployment, HUD, medicaid.
The government doesn't create jobs but it does redistribute wealth from those that have to those that don't. Are you not happy with the amount being redistributed ?
You mean put the capital gains tax to what it once was? I have no idea how much it would raise in revenue, but it would increase velocity which would improve the economy by putting more money in circulation...if the govt. does not give it to the banks to hoard.
So you advocate something when you have no idea what the benefits or consequences are?
It may reduce velocity as people react to your plan.
So you advocate something when you have no idea what the benefits or consequences are?
It may reduce velocity as people react to your plan.
The benefits are improved velocity (more transactions), which improve the economy create demand, which creates jobs. The consequences are the same. You can't reduce velocity by creating velocity...that makes no sense.
The very real possibility is inflation. Normally you have inflation when there is more velocity (more money in the system); however, we are having inflation right now in spite of the lack of velocity because of increased fuel costs.
The benefits are improved velocity (more transactions),
I had to stop here.. How is taking money from people, going to increase their spending? My attitude would be to tighten the belt even more, spending even less.
The benefits are improved velocity (more transactions), which improve the economy create demand, which creates jobs. The consequences are the same. You can't reduce velocity by creating velocity...that makes no sense.
The very real possibility is inflation. Normally you have inflation when there is more velocity (more money in the system); however, we are having inflation right now in spite of the lack of velocity because of increased fuel costs.
Bernanke is putting billions "into the system" each month.
What do you think QEI and QEII are ?
Perhaps we need to start taxing all property at the Federal level.
I am saying tax all wealth, stocks, bonds, land, ect.
This modern capatilism has become so one sided and messed up, this may be the only way left to re-ignite the economy.... without allowing the fascist state to become even more powerful.
It is kind of like homestead laws. If you do not use it you lose it.
I think that a 1-2% per year tax on assets above 5 million dollars would help clean up an obviously flawed system that benefits the wealthy at the expense of those that actually create the wealth by showing up for, and doing, the work.
Use it or lose it.
Great idea!
It worked wonders for our economy here in Michigan.
The benefits are improved velocity (more transactions), which improve the economy create demand, which creates jobs. The consequences are the same. You can't reduce velocity by creating velocity...that makes no sense.
The very real possibility is inflation. Normally you have inflation when there is more velocity (more money in the system); however, we are having inflation right now in spite of the lack of velocity because of increased fuel costs.
The transaction has to be of economic benefit, taking from one and giving to another accomplishes nothing. As I said, no matter how much supply to try and create we don't have the demographics or technological revolution to keep spending going.
The type of inflation you describe harms spending and is not inflationary in a monetary sense. Commodity price inflation is usually speculative not systemic.
We are going to see deflation not inflation. Why would the elites want to see their assets (our debts) go down in value due to inflation?
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.
