Forget "income tax", let's push for a "wealth tax". (money, government)

[lifeexplorer]

I don't understand why so many people are so willing to confiscate other people's legally acquired asset.

[Driller1]

Originally Posted by lifeexplorer

I don't understand why so many people are so willing to confiscate other people's legally acquired asset.

Greed.....

But, you can protect yourself from it.

[hoffdano]

Originally Posted by doc1

Any clue as to how many $$$ are socked away in retirement accounts (401K, IRA, SEP IRA...)?

I'm surprised politicians haven't just said "screw it, we want a chunk of that and we're going to get some".

Say, a graduated percentage on anything over $100,000.

Do you really think it is reasonable to tax the funds stored in defined retirement accounts? You WANT to make it harder for people to save and invest for retirement?

[Hyperthetic]

Uh . . . Doesn't "wealth" rhyme with "health"?

[Driller1]

Originally Posted by chuckmann

And when the possessor dies. Estate tax.

Oh, yes....

Anytime money changes hands......there could be a tax.

[Hyperthetic]

Originally Posted by Driller1

Oh, yes....

Anytime money changes hands......there could be a tax.

Unless it's a left-hand - right-hand transaction.

I once knew a juggler who worked as a CPA.

[Driller1]

Originally Posted by Hyperthetic

Unless it's a left-hand - right-hand transaction.

I once knew a juggler who worked as a CPA.

Yeah.....that is why I said "could".....

[theunbrainwashed]

Originally Posted by alphamale

Tax 10% annually for ALL assets over $5 MILLION, including cars, homes, boats, stocks, etc......

Let's see how many lefties in politics, entertainment and business will go for that!

I prefer a sales tax on all Wall St. financial transactions. 1% is a good start. In exchange, phase out the income tax and property tax entirely. Tax the non-productive financial services industry instead of charging income tax on people and corporations in productive industries.

[petch751]

Liberals attacking older people without thought

Even when a young man in his twenties works full time, he is unlikely to eam as high an income as his father earns in his forties, after long years of experience and seniority. Is this an injustice that requires a government program to correct it-- especially since most people in their twenties will eventually be in their forties, with or without govemment programs? Are we to call an intern poor and a doctor rich, when being an intern is just a stage on the way to becoming a doctor?

Thomas Sowell

[petch751]

“I have never understood why it is "greed" to want to keep the money you have earned but not greed to want to take somebody else's money.

---Thomas Sowell