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Hell no. We should move from an income tax to a progressive consumption tax. The more you spend, you more tax you pay. It would reward saving money, and stop punishing people for making more money.
If I was one of the 1%, I would hope to be like Bill and Melinda Gates. I admire them greatly. They could be selfish and self absorbed, yet they give so much to the world. Why not help others when you have billions of dollars. You can't possibly spend that much in your lifetime. So why not do some good for others.
What is their net worth?
Why haven't they given all but $1 billion away already?
Gates made his money in the US and still does. He is not Apple. MSoft is a US operation. And he does shelter income in his foundation as he has little use for further income. But that is a problem fixable by the tax code. As is the problem of hiding profits overseas.
It is simple. You go where the money is. If the very rich start limiting their income it goes somewhere. Track it and tax it. And if it ends up at lower points on the economic scale great.
And I don't think you will find much real resistance to taxes until very high brackets get above 50%. Clearing 5 million is less nice than 10 million but you don't turn down the 5 million.
ROFLMAO.
That's when you move to another country.
Why does liberal Hollywood film more films outside LA now? Cost. Even the liberals want to maximize earnings.
Forced re-distribution of wealth, and income would be a huge disincentive. We already do that through multiple taxes, and tax structures. When you GIVE people stuff, they don't value it as it is not earned. They then become entitled, and bitter because they think they deserve more.
Why haven't they given all but $1 billion away already?
believe they have
I believe because it's all intertwined in stocks etc --that affect companies etc can't just do it like lotto money
Bill Gates gives away 64 million Microsoft shares in largest donation since 2000. Gates usually donates around 80 million Microsoft shares each year, and this latest gift means he’s left with nearly 103 million shares. The SEC filing also reveals that Melinda Gates holds nearly 425,000 Microsoft shares.
Many peoples wealth is tied up in infrastructure. If there was no wealth in this country there would be no place to go to. No restaurants, no malls, no grocery stores. Nothing. The wealth of the people we see every day. We are privileged to go to a well stocked supermarket. A variety store , the mall .
Go to a third world country and see how you live. If not for the wealth of a nation , there would be no better life for anyone. The wealthy actually add much to a neighborhood.
When I was young, we were so grateful to see a new supermarket to move into the neighborhood. We could go there without driving farther away and sometimes could be in walking distance for many. That corner mom and pop store that sold your necessities to live was much appreciated. Today people take for granted all the stores and outlets that supply our needs for a better quality of life. I am glad there are the rich. Without them we would be living in a hell hole.
yes most of the rich-- the very wealthy -another story greedy bistirds
Where exactly is the line between rich and very wealthy?
Who gets to decide this line?
Let's say I am worth two million do to saving my whole life and a couple of luck land purchases. If I just put that money into the market and hit a luck 20 year period that averages 10% returns I would then be worth about 16 million.
Should I be punished for this?
How much would be a suitable punishment? 20%, 50%, 75%
Now let's say I made the same wage as the guy who saved the two million but I spent my money on new cars, a fancy home, and first class vacations.
Now I am retiring and haven't saved a dime. How much of that rich SOB's money do I deserve to help pay for my old age.
Does it matter what my race, sex, height is? I mean after all the man held me down my whole life for being a short Mexican shouldn't I get a little higher percentage of that rich guys money.
So, we should say everyone should be capped at what $35k a year?
How much do we limit income and how does that prevent anyone from being sick?
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