Posted on 08/01/2018 12:06:00 PM PDT by Brian Griffin
Where do you people come from?
Please don’t procreate.
I imagine you donned an asbestos suit before posting this.
I almost quit after reading the first line but wanted to see if there was a punchline or if you were being clever.
My last thought, half way through, “This guy has lost his mind.” After I finished I had to check to see if today was your first day as a FReeper.
You think our system of taxation needs another type of tax for only the rich? Really? Cause they never expand on taxes and none pay enough already. Remember when we used to speak of the easiest way to pay off national debt? Reduce government spending used to be the call to reduce debt.
Yes, and it is local, intended to pay for schools (for the most part).
Leaving aside my distaste for this local tax, you propose making this tax Federal as well.
NO.
I am not saying a wealth tax is good idea but any form of taxation is going to be better than taxing someone’s labor. That is evil.
Don’t tax him
Don’t tax me
Tax the man
Behind that tree.
Punish frugality and reward sloth.
I spent all my life building my wealth and already paid taxes on most of it.
Try and come and get it. It will be the last thing you do in this life.
No, just no
How about this:
10% or LESS total tax SPLIT between four categories.
Income, Tariff(both in and out can be split but ALL products and in WHOLE percentages ) , Sales and Business
Meaning only WHOLE NUMBER percentages assigned to any/all of the FOUR and can not add up to MORE than 10%
So you could have
5% income, 5% Tariff, 0% sales/business
or
0% income, 10% tariff ( 5% in/ 5% out ) , 0% sales/business
or
2% income/tariff ( 2% in ) /sales 1% business
All congress can do is decide which category gets what WHOLE NUMBER percentage. Therefore the total ever load on economy is only ever 10% of the economy at the MOST. This keep congress occupied with this busywork of determining which whole number percent age and to determine which Category(s) gets NO MORE THAN 10% of the economy taxed.
They can bump it up to 20% but only in super majority over 66% of BOTH houses during a time of DECLARED WAR, that has to be renewed by same super majority of more than 66% every 6 months.
DONE!
> 4% on the net worth in common stock. <
Wait a minute. Suppose the market has a bad year, and my holdings decrease in value. I still have to pay 4% on the net worth? Each year?
“Please remember 3% interest on $21 trillion comes to $630 billion a year, about 40% of federal individual income tax revenue.”
Yes, that’s paid with printed money.
The deficit is already a tax, in and of itself, in that it causes inflation and devaluation of money.
It’s also a flat tax.
And largely exported abroad to non-USA holders of dollars and t-bills.
What you would propose would bring back that tax burden to the USA.
In other words, you are an idiot.
[ Punish frugality and reward sloth.
I spent all my life building my wealth and already paid taxes on most of it.
Try and come and get it. It will be the last thing you do in this life. ]
Ideally we would only be taxed via “External Tariff” and not by income tax which taxes the “Internal productivity” of a county’s own citizens.
Haha.
[ I am not saying a wealth tax is good idea but any form of taxation is going to be better than taxing someone’s labor. That is evil. ]
If the government was only funded by good leaving and entering the country you can sure as hell bet they would be securing the damned border too...
Instead that government force is applied as a prison warden to make sure everyone’s sweat and tears are collected to quench the federal government’s thirst for salty drinks...
“I earn money, which is taxed considerably. With what I can save out of what’s leftover I buy a house. I pay property tax every year on that house. Now you want more”
You may think you have “wealth”, but the reality probably is that you’re “working poor” or modestly affluent.
The age-based exemptions that make the tax zero for almost all Americans.
A 59-year person like me gets a $5,900 age-based tax exemption, so I could have a $400,000 paid-up house and $90,000 in the bank and not owe a dime in wealth tax.
It’s a tax on wealth.
I was a retail clerk and paid federal income tax on less than $10,000 of income.
In a way, wealth tax is another form of taxing one’s labor.
What do the left-wing politicians do with it but redistribute, after all? Naught else that I see.
Thou art digging thy hole deeper. Rhetorical terms do not make an argument.
I pay a property tax...sales tax...a gas tax...a tax at every corner....
AND YOU SUGGEST I PAY MORE!!!!
WHAT IN THE BLOODY HELL ARE YOU DOING HERE???
“The government was almost entirely funded by tariffs”
It was also the era before the United States became a world power, although that may be coincidental. Gov’t spending was low, often below 10% GDP, until around WWII. It’s remained around 20% of GDP ever since.
The push to get rid of tariffs in the post Civil War era came from the widespread perception that they fell heaviest on ordinary Americans. It was believed that an income tax would be more fair in its impact. The income tax as promoted by Teddy Roosevelt, Wm Taft, and signed by Wilson affected only a small portion of Americans. The big change in how many paid income tax arrived with WWII.
Good Lord.
1. Can you imagine what your tax return would look like? Or what an audit would look like? If you think the IRS is scary now, wait until they have a mandate to examine your wealth in addition to your income.
2. Did you forget about Article I, Section 9, Clause 4? This is an unconstitutional direct tax. Good luck pushing through an amendment for this crap.
For some but for a lot it is not. Look at the children of the wealthy, they are born with expense accounts and trust funds that they did nothing to earn. A wealth tax would encourage them to do something creative instead of sitting on their asses or causing political havoc.
“What will you tax after all our assets are overseas?”
If an American makes $1 million in China, US federal income tax must be paid on it under existing law.
If an American has $1 million in common stock in a Chinese brokerage account, federal wealth tax would have to be paid on it.
The US isn’t the only nation deeply in debt. It has plenty of company worldwide.
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