Redfish
Diamond Member
- Thread starter
- #241
Now you are getting itUnfortunately, they do not spend a lot of money. It is stashed away and untaxable
The working class spends their money......on things like housing, healthcare, education, transportation
untaxable???? we tax income, money saved has already been taxed. Yes, the working class spends money, that's why they like having more of it though the tax cuts, raises, and bonuses, none of which would have happened without the tax cut bill.
Working Americans have relatively little personal wealth. Their money comes from labor which is fully taxed
The wealthy have untold reserves of personal wealth which is untaxable.
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Hard to tax wealth
What I would like to see is a one percent fee on every stock transaction
That way, when the wealthy move their money around they pay into our revenue stream
so you want double taxation. tax it when earned and tax it again when invested. Do you have a 401K? You must not if you advocate such a tax.
Consider it a sales tax
I already paid tax on money I earned, yet pay seven percent when I bu6 something
What is so hard about expecting people to pay one percent when they buy stocks?
Why not do away with income tax completely and put a national sales tax on everything, then those who spend the most pay the most. that sounds fair. But you really are not after fairness, you want to punish the "evil rich", right?