Income Tax is for little people

Jules

Super Anarchist
8,265
3,131
Punta Gorda
Not surprising.  All you need is enough money to get the tax laws changed in your favor.  But the majority of Americans don't have lobbyists hauling suitcases of money into the halls of Congress.  We can't afford to bribe politicians to change the tax laws in our favor like the donor class does.

 

Raz'r

Super Anarchist
61,133
5,010
De Nile
I've been a broken record on this, but the only "fair" way to go is a either an annual "wealth change" tax. say 1-2%, or some pretty high estate taxes - approaching say 75% - numbers TBD.

The Wealth class just completely avoids taxes. I would as well. I don't blame them. But that doesn't mean we shouldn't change the rules.

 

Sol Rosenberg

Girthy Member
93,324
11,017
Earth
I've been a broken record on this, but the only "fair" way to go is a either an annual "wealth change" tax. say 1-2%, or some pretty high estate taxes - approaching say 75% - numbers TBD.

The Wealth class just completely avoids taxes. I would as well. I don't blame them. But that doesn't mean we shouldn't change the rules.
Higher than that, but with exemptions for every full time job with living wage paid plus benefits that they create. Wanna avoid taxes? Put that money to work and participate in the economy. 

 

Steam Flyer

Sophisticated Yet Humble
42,536
8,710
Eastern NC
I've been a broken record on this, but the only "fair" way to go is a either an annual "wealth change" tax. say 1-2%, or some pretty high estate taxes - approaching say 75% - numbers TBD.

The Wealth class just completely avoids taxes. I would as well. I don't blame them. But that doesn't mean we shouldn't change the rules.
Higher than that, but with exemptions for every full time job with living wage paid plus benefits that they create. Wanna avoid taxes? Put that money to work and participate in the economy. 
This is a little bit dated now, but I like an older Republican belief: the wealthy create jobs, and torture works.

Any time unemployment is a problem, grab some of the 1%ers and start torturing them. Keep it up until there's no more problem.

- DSK

 

Grrr...

▰▰▰▰▰▰▰▰▰▰ 100%
9,708
2,272
Detroit
Higher than that, but with exemptions for every full time job with living wage paid plus benefits that they create. Wanna avoid taxes? Put that money to work and participate in the economy. 
I have had this discussion repeatedly with my kids.  They bring up 'not fair', and then I ask them if it's fair that a speeding ticket might take 1% of one person's yearly food budget and .0002% of another's.  It's an extremely hard thing to explain the varying impact of fixed penalties when people have such disparate incomes.

I DID get them to agree that crminal penalties should be changed based on a percentage of your yearly income.  Now I just have to get them to understand a progressive scale.

 

Sol Rosenberg

Girthy Member
93,324
11,017
Earth
I have had this discussion repeatedly with my kids.  They bring up 'not fair', and then I ask them if it's fair that a speeding ticket might take 1% of one person's yearly food budget and .0002% of another's.  It's an extremely hard thing to explain the varying impact of fixed penalties when people have such disparate incomes.

I DID get them to agree that crminal penalties should be changed based on a percentage of your yearly income.  Now I just have to get them to understand a progressive scale.
I'm thinking more "sauce for the goose". If we are going to return to 1950s social policy, we should have 1950s tax policy too. The GOP wants us back to Jim Crow for social policy, but insists on cutting edge, modern tax policy. 

 
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NeedAClew

Super Anarchist
5,988
1,666
USA
Want to pay the ordinary income tax rate on the capital gain on your house?  Crumbs for the gosling. 

 

The_Real_XYZ

Super Anarchist
1,315
256
mi
Higher than that, but with exemptions for every full time job with living wage paid plus benefits that they create


I don't think we need higher wages and more consumption.  We need cheaper living options.  A jail cell sized apartment option, force developers to start making those.

 

Raz'r

Super Anarchist
61,133
5,010
De Nile
Want to pay the ordinary income tax rate on the capital gain on your house?  Crumbs for the gosling. 
You wouldn't have to if there was a wealth tax. 1% annual wealth tax would eliminate the structural deficit. I already pay 1 1/8% on my home. Could I pay 2? It would hurt of course, but if we as a people decide to spend $s, we should tax ourselves to pay for it.

 

Ventucky Red

Super Anarchist
11,289
1,152
You wouldn't have to if there was a wealth tax. 1% annual wealth tax would eliminate the structural deficit. I already pay 1 1/8% on my home. Could I pay 2? It would hurt of course, but if we as a people decide to spend $s, we should tax ourselves to pay for it.
What did you pay for your home and what is it worth today?  Saying a 2% tax under Prop 13 would be challenge, what happens when that disappears?  With the way real-estate is moving in CA....  they are bringing in plenty of revenue..  They just have to reign in on the spending. 

 
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Raz'r

Super Anarchist
61,133
5,010
De Nile
What did you pay for your home and what is it worth today?  Saying a 2% tax under Prop 13 would be challenge, what happens when that disappears?
Why do you like the feds borrowing so much?  Maybe if we had to pay for it, we wouldn't allow it to be spent?

 

The_Real_XYZ

Super Anarchist
1,315
256
mi
Why do you like the feds borrowing so much?  Maybe if we had to pay for it, we wouldn't allow it to be spent?
They sort of have to borrow.  The trade deficit means that something like $500 in cash is exported every year.  Before the gold window was closed in the early 70's they had balance of trade payments.  The federal government would exchange gold with whatever government had dollars and import those dollars back into our economy a couple of times every year.  Rising oil imports put an end to that after we had exported half the nations gold supply.  Now they use paper(government debt) to do that instead.

 

Raz'r

Super Anarchist
61,133
5,010
De Nile
They sort of have to borrow.  The trade deficit means that something like $500 in cash is exported every year.  Before the gold window was closed in the early 70's they had balance of trade payments.  The federal government would exchange gold with whatever government had dollars and import those dollars back into our economy a couple of times every year.  Rising oil imports put an end to that after we had exported half the nations gold supply.  Now they use paper(government debt) to do that instead.
Yes and no, they wouldn't have to actually do it with debt to the open market. The Fed could see M1 dropping and inject dollars into the system, and "borrow" from itself.

 
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