Posted on 08/01/2018 12:06:00 PM PDT by Brian Griffin
“To pay off the debt, we should cut spending to the bone - eliminate anything not in the Enumerated Powers.”
Fat chance of that happening - there are voters to be bought in Novembers of even numbered years.
“Collecting more money from productive Americans does not shrink the debt; it just promotes more wasteful spending.”
Threatening to collect more money may discourage wasteful spending.
Threatening to collect more money from wealthy people may discourage them and those who merely think they are wealthy from contributing to politicians fond of wasteful spending.
A wealth tax is obviously superior etc
So speaks someone who is obviously without significant wealth
IF any of your wealth tax exceeds the cost of moving. Then why not move? ie. if i was a billionaire, how much do i spend in your state? well, what if i move to get away from your tax? what if i decide i live in the caymen islands? how about brazille? you dont think a country will offer me citizenship for the money to come with me?
you would have to build a wall to keep the wealthy IN...
> Shares in ownership are not taxable because their true value cannot be ascertained until they are sold <
The county I lived in (my post #93) just picked an arbitrary date. I believe that it was December 31 of the previous year. You were supposed to pay a yearly 1% county tax on the value of your stock shares as of that date.
I just ignored it. And as I mentioned earlier, I never heard from them one way or the other.
LMAO!
Confiscation of assets accumulated from earNings we ALREADY PAID TAX ON.
I have a better idea: The Federal government should SPEND A LOT LESS MONEY and let growth in tax receipts pay debts the government shouldn’t have spent in the first place.
Some economists say that deficit spending IS taxation. This moron proves the point. . . raising taxes to pay for deficit spending.
You must still live in your parents basement. $400,000 is an insignificant amount to those who have actually worked and save most of their lives. You like your idol Obama must think at some point youve made enough.
Nobody could be this stupid to suggest something like this. Well either you’re stupid or a progressive. You need to just go away with ideas like this. Maybe post it on DU, they’ll love it.
“The deficit is already a tax, in and of itself, in that it causes inflation and devaluation of money.
“Its also a flat tax.
“And largely exported abroad to non-USA holders of dollars and t-bills.”
But not entirely.
It’s people like me that have bank balances that have been paying too.
I’ll only be paying for a few more years. My money is disappearing, along with the ability of the USA to play fiat money games.
If you think the Chinese are going to be playing much longer you are in for a shock. They’ve learned to lend to other countries at stiff terms and interest rates. They get some territory they can effectively call their own after any default.
This is a tax on the equity assets of wealthy people
Youre either a troll or an envious loser. Did you just discover Marx?
“Shares in ownership are not taxable because their true value cannot be ascertained until they are sold”
In that case, transfer 4% of the shares into Uncle Sam’s name.
“Did you forget about Article I, Section 9, Clause 4? This is an unconstitutional direct tax.”
That clause probably was effectively nullified by Amendment XVI over a century ago.
“Its a tax on your past income.”
Someone else wrote that a short time ago.
“You were a retail clerk....and made no more than $10k a year???”
A long time ago.
Their ability to "call it their own" may be dependent upon their being able to field troops there against any government deciding to try to expropriate. Then again, with the millions of excess men, they might find that a good feature.
>>. A wealth tax would encourage them to do something creative instead of sitting on their asses or causing political havoc.<<
What children do with their inheritance is NOYDB nor the government’s. You make massive assumptions on what the children of the wealthy do based on a few isolated cases.
I went to a school with VERY RICH kids and your stereotype doesn’t match up with reality.
Taxing wealth means you tax productivity, period. At least a labor tax, once levied, is done. A wealth tax levies over and over and over and over.
The other examples in this thread are also based on stereotypes. I have well in excess of 7 figures and that is through thrift and toil. It is not for you nor anyone else to lay claim to that just because I did not spend it — which is what this plan would force people to do.
This is a BAD idea and the whole thread should be locked or wiped out.
What? The debt has already been paid by the devaluation of the fiat dollar. Are you being sarcastic?
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