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We've been transferring more and more of the tax burden to wages, over the years, and look what it has done to real personal incomes (gone down). Look what it has done to wealth and corporate incomes. (Gone up.)
Y'all act like a simple balancing of rates is going to "kill" people.
Total BS. If you have money in a 401K, you don't pay any taxes until you start withdrawing, and then it's taxed as income, not capital gains. Stop telling lies.
Not all savings are in a 401k.... so there is no lie.
1. what is their wealth tax......less than 2% on 'wealth of 3 million or HIGHER
2. define wealth.........is the elderly couple struggling to get by on their ss checks wealthy because the house they bought in 1960 for 5k is now "worth" 500k.............is the average middleclass RETIRIE wealthy because their "NET WORTH" is around a million or two, because they CONTRIBUTED to their 401k for the last 40 years(they say you NEED at least 2 million to retire to maintain a MIDDLECLASS lifestyle)...............................(((Say a 35yrold would retire in 30 years (at 65 ), they would need about $3.05-4.575 million. That is assuming they have no Social Security or any other steady annuities or pensions for supplimental income.))).........(((some calcs have lower amounts...$50,000/year lifestyle = $1.55 Million retirement savings))) ......also remember inflation continues to DEVALUE the dollar, so the number will always be going up because the BUYING POWER of the dollar decreases
I think it would be obvious that any "wealth tax" should not be aimed at 65 year olds looking to retire with 60K per year being withdrawn from their 401Ks, or on a house under 500K or so, all adjusted for inflation.
However, there is absolutely no chance of this tax happening as long as talk radio and Fox news continue to warp the minds of middle class Americans. They will continue to see their lot in life diminish while their media heroes will up the rhetoric against minorities and "liberals" as scapegoats while the rich get richer and laugh at all of us.
Not all savings are in a 401k.... so there is no lie.
If it's not in an IRA or a 401K, then it's not 100% retirement savings is it? It can be made liquid at any time. Well done with your dishonesty, the GOP would be proud of you.
Companies divest their profits to shareholders, and compensate management and workers. Consumers will sometimes have to pay higher prices for goods made by companies who cannot eat the cost of the tax, but in many cases it will result in lower profits for a corporation. Fortunately, profits are at record highs.
This will be offset from the consumer's perspective, by the lower wage tax, enabled by extra revenues from a corporate income tax.
I can assure you after spending many years pricing products for my company, that taxes go directly into the price. If our taxes were reduced, we would instantly reduce prices so that our products would be more competitive.
I can't speak for most companies, but I suspect your statements are incorrect across the board and higher corporate taxes always result in higher prices.
the annual produce of the land and labour of the society
.
ok nice book answer
now define VALUE
the point is if we were to tax 'wealth' we would have to put a 'value' on things
an example...houses....a 'levit' house (levittown, long island, built in the early 50's for returning veterans)....the 1950 value 5k .......the 1995 value 150k ....the 2005 'value', 450k.....the 2011 'value' 300k(went down with the bubble bursting)
and what 'kind' (rate) would WE put on this so called 'wealth'...like norway 1%...or like liberals want (greater than 15%)......are we to ADD a (using 1%) 4500 dollar ADDED tax bill to our seniors??????EVERY YEAR????
We've been transferring more and more of the tax burden to wages, over the years, and look what it has done to real personal incomes (gone down). Look what it has done to wealth and corporate incomes. (Gone up.)
Y'all act like a simple balancing of rates is going to "kill" people.
exactly..that's why we should not tax wages(which a majority is not reported anyhow)(which so many exemptions......we need to tax SPENDING....a consumption tax...eliminate the income/corporate/estate/ss/medi taxes and go with ONE SIMPLE NATIONAL CONSUMPTIONS tax
....
First off, the effective corporate tax rate is 13%, not the full 35% that the WSJ pretends to be reality..
Not sure how they get away with paying 13%.... my company pays 35%....
What's the secret?
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