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Cars above $50K face a higher consumption tax rate. Homes above $400K face a higher consumption tax rate.
Luxury tax? That's already been tried. It destroyed the U.S. shipbuilding industry.
Quote:
"...in 1990... according to a Wall Street Journal report, “Congressional Democrats [were] eager to show they were being tough on the rich.” A ten percent tax was added to the cost of luxury yachts. Since a yacht today costs anywhere from $100,000 to $200,000, this means that at least $10,000 had to be paid to the government before a potential buyer could get his first whiff of salt air. With the economy already heading for trouble, this was the proverbial straw that broke the camel’s back. Ocean Yachts in Weekstown trimmed its workforce from 350 to 50. Egg Harbor Yachts entered Chapter Eleven bankruptcy, going from 200 employees to five. Viking Yachts dropped from 1,400 to 300 employees. According to a Congressional Joint Economic Committee Study, the boat industry nationwide lost 7,600 employees within one year. As Bob Healy, president of Viking Yachts explained on NBC News, “Every six or seven years, you have a down cycle. You might be off 20 percent, 30 percent, or 40 percent at maximum. Our industry is off 90 percent nationally."
Well except that that money benefits businesses that can employ him cheaper. And the side benefit that *I* like of not seeing people starve etc. hmm...ok a bit more complex.
Only a liberal can believe in a right to manipulate other people and their property for his own comfort as a moral imperative.
The bottom Quintile of income earners receive on average $9.62 in federal aid for every $1.00 they pay in ALL Federal taxes combined. The middle quintile averaged $1.19 in federal aid for every $1.00 they pay in ALL Federal taxes combined.
My wife and I help people with their taxes for free - almost all lower income families. Many of which get back thousands more than they pay in. Literally turning a sizable profit off of federal income taxes that would cover all their state and local taxes - with the net effect of paying nothing into the system.
I hear President Obama speak of "fair share" when it comes to the wealthy. What is the fair share of other groups?
Assuming a foreign power invading and occupying the US, the lower classes will be toiling just the way they toil under American flag, in the first approximation, it's just that subsistence wages will be adjusted to new masters' liking. The upper levels of society, holding lions share of claims on resources, land and productive capacity will lose the most, if not everything. Thus, it's only fair for the taxes to be proportional to one's stakes in society. Zero at the bottom, and whatever it takes to keep it running (and granting all those claims on the wealth) on the top.
Assuming a foreign power invading and occupying the US, the lower classes will be toiling just the way they toil under American flag, in the first approximation, it's just that subsistence wages will be adjusted to new masters' liking. The upper levels of society, holding lions share of claims on resources, land and productive capacity will lose the most, if not everything. Thus, it's only fair for the taxes to be proportional to one's stakes in society.
A flat tax accomplishes exactly that. It's directly proportional. Earn very little; pay very little in taxes. Earn A LOT; pay A LOT in taxes.
A flat tax accomplishes exactly that. It's directly proportional. Earn very little; pay very little in taxes. Earn A LOT; pay A LOT in taxes.
Not so simple, paying $100 on $1000 income hurts so much more than paying $10,000 on $100,000 income from the mere survival standpoint. I would argue that taxes should be proportional to one's stakes in economy after some "survival" income is reached.
It's not only about money though. Blood, sweat, professional diseases, mind numbness, disability and early deaths that it takes to run this bloody beatch economy should be proportionally distributed too. If that is not possible (who needs wealth, if that would be the case ? ), taxation should reflect that some lose way more than others, they lose something that is hard to monetize to boot.
Not so simple, paying $100 on $1000 income hurts so much more than paying $10,000 on $100,000 income from the mere survival standpoint. I would argue that taxes should be proportional to one's stakes in economy after some "survival" income is reached.
It's not only about money though. Blood, sweat, professional diseases, mind numbness, disability and early deaths that it takes to run this bloody beatch economy should be proportionally distributed too. If that is not possible (who needs wealth, if that would be the case ? ), taxation should reflect that some lose way more than others, they lose something that is hard to monetize to boot.
There is many idea on what is the best tax system. Just lower the tax rate to a flat 15% rate and a standard tax for the rich (super rich) 35%. Make every level pay taxes even the poor.
The trick is to have everyone pay in. 47% pay the 53% (non payers) that is disturbing to me!
Not so simple, paying $100 on $1000 income hurts so much more than paying $10,000 on $100,000 income from the mere survival standpoint.
If "survival" were oh, so important to low-income earners, why are they MUCH more likely to waste their "survival" money on cigarettes?
They could easily pay that $100 tax on $1,000 of income if they just stop wasting money on destructive things and/or frivolous wants instead of needs.
Last edited by Ibginnie; 02-17-2014 at 10:50 AM..
Reason: copyright/hotlinking
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? ), taxation should reflect that some lose way more than others, they lose something that is hard to monetize to boot.
to low-income earners, why are they MUCH more likely to waste their "survival" money on cigarettes? 
