Taxing The Rich

[danielpalos]

The dems don’t understand economics or even math.
They think that the rich are somehow locked into staying in high tax areas. They think that their money can’t be moved into other countries.
They don’t realize that businesses can leave money overseas Instead of bringing it into the U.S. where it spends just as well there.
They don’t realize that businesses are not going to take a hit to the bottom line, they will just pass that hit onto higher prices for the consumer.

Raise the minimum wage to raise more tax revenue.

Raise minimum wage to increase prices for goods. Then minimum wage purchases the exact same amount of goods or services.
so it ends up as a wash other then it looks good.

No, it doesn't. Some studies show less than five percent increase in prices. Simply beating the rate of inflation means greater purchasing power for Labor and their propensity to consume. The doubling of the minimum wage will not result in a doubling of prices for anything.

So you're going to increase labor costs by 100% but claim that prices will only go up 5%? You're not the brightest bulb on the tree...are you, Daniel?

Due to minimum wage increases. Other wages could raise it more, but the pay increases need merely beat inflation. Who cares if prices go up if we can afford it with the higher wage. And, a fifteen dollar an hour minimum wage also generates several times more in federal income tax revenue.

How does this work, Daniel? The profit margin of your typical brick and mortar store is less than 5%. Their largest expense will typically be payroll which you're now increasing by 100%. So where do you make up the difference?

Prices won't double even if the minimum wage does. The multiplier effect does the rest.

I asked a rather simple question, Daniel...which you've failed to answer. How do you raise labor costs 100% in a business that only has a 5% profit margin and NOT raise the price of goods and services provided by that business?

It is about the minimum wage and minimum wage labor. What percentage of any workforce makes the minimum wage?

Answer the question, Daniel. If you can't...then admit you have no clue what you're talking about...tuck tail and find another string!

You are the one begging the question. You have nothing but Hoax not any understanding of economics.

So your "answer" to a very simple question...is that I have "Hoax"? If you can't answer something that basic, Daniel then it's obvious your minimum wage ideas fall flat on their face.

I took Economics classes at UMass, Amherst College and Boston University. What is your background on the subject?

And apparently, you learned nothing. Why brag?

 

[danielpalos]

All I ask for is one example of a country that taxed their way to prosperity. Just one. While your at it one economic system that leads the world in Bio Technology, Technological innovation, while improving the standard of living of it citizens and that of the world. What government and economic system does the world come pounding on their doorstep for help when disaster hits?

Right wing tax cut economics:

https://www.usdebtclock.org/

 

[Oldestyle]

The dems don’t understand economics or even math.
They think that the rich are somehow locked into staying in high tax areas. They think that their money can’t be moved into other countries.
They don’t realize that businesses can leave money overseas Instead of bringing it into the U.S. where it spends just as well there.
They don’t realize that businesses are not going to take a hit to the bottom line, they will just pass that hit onto higher prices for the consumer.

Raise the minimum wage to raise more tax revenue.

Raise minimum wage to increase prices for goods. Then minimum wage purchases the exact same amount of goods or services.
so it ends up as a wash other then it looks good.

No, it doesn't. Some studies show less than five percent increase in prices. Simply beating the rate of inflation means greater purchasing power for Labor and their propensity to consume. The doubling of the minimum wage will not result in a doubling of prices for anything.

So you're going to increase labor costs by 100% but claim that prices will only go up 5%? You're not the brightest bulb on the tree...are you, Daniel?

Due to minimum wage increases. Other wages could raise it more, but the pay increases need merely beat inflation. Who cares if prices go up if we can afford it with the higher wage. And, a fifteen dollar an hour minimum wage also generates several times more in federal income tax revenue.

How does this work, Daniel? The profit margin of your typical brick and mortar store is less than 5%. Their largest expense will typically be payroll which you're now increasing by 100%. So where do you make up the difference?

Prices won't double even if the minimum wage does. The multiplier effect does the rest.

I asked a rather simple question, Daniel...which you've failed to answer. How do you raise labor costs 100% in a business that only has a 5% profit margin and NOT raise the price of goods and services provided by that business?

It is about the minimum wage and minimum wage labor. What percentage of any workforce makes the minimum wage?

Answer the question, Daniel. If you can't...then admit you have no clue what you're talking about...tuck tail and find another string!

You are the one begging the question. You have nothing but Hoax not any understanding of economics.

So your "answer" to a very simple question...is that I have "Hoax"? If you can't answer something that basic, Daniel then it's obvious your minimum wage ideas fall flat on their face.

I took Economics classes at UMass, Amherst College and Boston University. What is your background on the subject?

And apparently, you learned nothing. Why brag?

I'm not bragging. I'm simply pointing out that I understand Economics because it was a subject I studied in college. You on the other hand post gibberish when it comes to economic theory. Which led me to ask what your background is in the subject! One more question which you avoided like it was Kryptonite!

 

[Viktor]

After all they do for us little people, they shouldn't have to pay any taxes at all.

You actually have a point. To create jobs you need to start or expand business.That takes money and the rich have it. I saw a guy say something very smart. He said "I have never been hired by a poor person."

 

[Oldestyle]

You don't have any background in Economics...do you, Daniel?

So why are you holding forth on a topic you OBVIOUSLY know so little about?

 

[Oldestyle]

After all they do for us little people, they shouldn't have to pay any taxes at all.

You actually have a point. To create jobs you need to start or expand business.That takes money and the rich have it. I saw a guy say something very smart. He said "I have never been hired by a poor person."

The one thing that liberals never seem to understand is that people with capital to invest, do so because they foresee an opportunity to make a profit worth risking said capital. If you take away the profit incentive then you take away investment! The only group willing to invest capital in a venture that has no chance at turning a profit is Government and that's because it's not THEIR money that they'll be wasting...it's our money!

 

[Viktor]

The Democrat plans to tax the rich are futile and ignorant. They sound good to the uneducated, but they don't work very well. When you raise tax rates or reduce deductions on the rich, their typical response is to divert more of their money into tax shelters where they pay less tax. They can afford tax lawyers and CPAs who find ways to reduce their taxes dramatically and it's all legal.

Donald Trump knows how. For several years at a time, he paid no income tax. I don't know all the shelters he used but I can guess. One would be accelerated depreciation on the buildings and furniture he owns. Another would be Net Loss Carryover. When you have a loss in one year, the IRS Code allows you to deduct that loss on the returns for following years. If the NLC is large enough, it can give you zero tax liability for 5 or 6 years. Even people of moderate income can use tax shelters. I have 2 of them.

If you don't try and target the rich, they will pay a fair share of taxes just like everybody else. If you target them with high tax rates, they run for tax shelters.

These Dem idiots never learned what Kennedy, Reagan and Trump learned. Cutting taxes puts more money into the economy and the Fed coffers than raising them ever did. They will never, ever learn that lesson.

Imbeciles is what they are.

Trickle down economics has never worked, but it does enrich the rich enormously.

Trickle down economics doesn't work...BECAUSE TRICKLE DOWN ECONOMICS DOESN'T EXIST! It's something that was made up by the left to denigrate Supply Side Economics. Whenever someone starts talking about trickle down economics it's a sure sign they don't have a clue about economics in general!

You are correct. Supply side economics is not a complete theory of economics, but there is truth to it. It is the wealthy who provide capital to create business and create jobs.

 

[Oldestyle]

The Democrat plans to tax the rich are futile and ignorant. They sound good to the uneducated, but they don't work very well. When you raise tax rates or reduce deductions on the rich, their typical response is to divert more of their money into tax shelters where they pay less tax. They can afford tax lawyers and CPAs who find ways to reduce their taxes dramatically and it's all legal.

Donald Trump knows how. For several years at a time, he paid no income tax. I don't know all the shelters he used but I can guess. One would be accelerated depreciation on the buildings and furniture he owns. Another would be Net Loss Carryover. When you have a loss in one year, the IRS Code allows you to deduct that loss on the returns for following years. If the NLC is large enough, it can give you zero tax liability for 5 or 6 years. Even people of moderate income can use tax shelters. I have 2 of them.

If you don't try and target the rich, they will pay a fair share of taxes just like everybody else. If you target them with high tax rates, they run for tax shelters.

These Dem idiots never learned what Kennedy, Reagan and Trump learned. Cutting taxes puts more money into the economy and the Fed coffers than raising them ever did. They will never, ever learn that lesson.

Imbeciles is what they are.

Trickle down economics has never worked, but it does enrich the rich enormously.

Trickle down economics doesn't work...BECAUSE TRICKLE DOWN ECONOMICS DOESN'T EXIST! It's something that was made up by the left to denigrate Supply Side Economics. Whenever someone starts talking about trickle down economics it's a sure sign they don't have a clue about economics in general!

You are correct. Supply side economics is not a complete theory of economics, but there is truth to it. It is the wealthy who provide capital to create business and create jobs.

Anyone who's ever run a business will tell you that profits "trickle" up...not down! Labor gets paid regardless if the business makes money. If you don't pay them and just stick the money in your pocket...you will go to jail!

 

[danielpalos]

The dems don’t understand economics or even math.
They think that the rich are somehow locked into staying in high tax areas. They think that their money can’t be moved into other countries.
They don’t realize that businesses can leave money overseas Instead of bringing it into the U.S. where it spends just as well there.
They don’t realize that businesses are not going to take a hit to the bottom line, they will just pass that hit onto higher prices for the consumer.

Raise the minimum wage to raise more tax revenue.

Raise minimum wage to increase prices for goods. Then minimum wage purchases the exact same amount of goods or services.
so it ends up as a wash other then it looks good.

No, it doesn't. Some studies show less than five percent increase in prices. Simply beating the rate of inflation means greater purchasing power for Labor and their propensity to consume. The doubling of the minimum wage will not result in a doubling of prices for anything.

So you're going to increase labor costs by 100% but claim that prices will only go up 5%? You're not the brightest bulb on the tree...are you, Daniel?

Due to minimum wage increases. Other wages could raise it more, but the pay increases need merely beat inflation. Who cares if prices go up if we can afford it with the higher wage. And, a fifteen dollar an hour minimum wage also generates several times more in federal income tax revenue.

How does this work, Daniel? The profit margin of your typical brick and mortar store is less than 5%. Their largest expense will typically be payroll which you're now increasing by 100%. So where do you make up the difference?

Prices won't double even if the minimum wage does. The multiplier effect does the rest.

I asked a rather simple question, Daniel...which you've failed to answer. How do you raise labor costs 100% in a business that only has a 5% profit margin and NOT raise the price of goods and services provided by that business?

It is about the minimum wage and minimum wage labor. What percentage of any workforce makes the minimum wage?

Answer the question, Daniel. If you can't...then admit you have no clue what you're talking about...tuck tail and find another string!

You are the one begging the question. You have nothing but Hoax not any understanding of economics.

So your "answer" to a very simple question...is that I have "Hoax"? If you can't answer something that basic, Daniel then it's obvious your minimum wage ideas fall flat on their face.

I took Economics classes at UMass, Amherst College and Boston University. What is your background on the subject?

And apparently, you learned nothing. Why brag?

I'm not bragging. I'm simply pointing out that I understand Economics because it was a subject I studied in college. You on the other hand post gibberish when it comes to economic theory. Which led me to ask what your background is in the subject! One more question which you avoided like it was Kryptonite!

All you do is allege you took economics in college. Where are your valid arguments and thesis?

 

[danielpalos]

You don't have any background in Economics...do you, Daniel?

So why are you holding forth on a topic you OBVIOUSLY know so little about?

All you have is Hoax and ad hominems not any valid arguments for rebuttal. Nobody takes right wingers seriously about economics.

 

[Staidhup]

Still waiting for that one example, cats got your tongue?

 

[Orangecat]

The wealthy don't pay tax, they pay off politicians for favorable tax breaks.
Some skim off the massive piles of wealth they set up their relatives for while in office.
The government is generally a corrupt institution at all levels. Best to defund it and keep it weak.

 

[Staidhup]

It truly may have it flaws, however I have not seen anything better.

 

[Agit8r]

"a tax merely proportionate to individual income would be far from equitable; and this is probably what [Adam] Smith meant, by declaring it reasonable, that the rich man should contribute to the public expenses, not merely in proportion to the amount of his revenue, but even somewhat more. For my part, I have no hesitation in going further, and saying, that taxation can not be equitable, unless its ratio is progressive."
-- Jean Baptiste Say; from 'A Treatise on Political Economy'

 

[Agit8r]

"Above all things, good policy is to be used that the treasure and monies in a state be not gathered into few hands. For otherwise a state may have a great stock, and yet starve. And money is like muck, not good except it be spread"
-- Francis Bacon; from 'Of Seditions and Troubles'

 

[Agit8r]

"Another means of silently lessening the inequality of property is to exempt all from taxation below a certain point, and to tax the higher portions of property in geometrical progression as they rise."
-- Thomas Jefferson; from letter to James Madison (28 Oct. 1785)

 

[Brain357]

Sure and the giant tax cuts brought down the prices of everything? You have some imagination...

It may have helped keep jobs in the country. It was responsible for people getting pay increases and a new high in median household income.

I have more than some people. Others have more than I do. I'm sure you're no different. Would it be fair that government take money from you to give to somebody that has less? After all, if you rob Peter to pay Paul, the Paul's of your society generally have no objection.

You have no evidence of your claims.

 

[Brain357]

Trickle down economics doesn't work...BECAUSE TRICKLE DOWN ECONOMICS DOESN'T EXIST! It's something that was made up by the left to denigrate Supply Side Economics. Whenever someone starts talking about trickle down economics it's a sure sign they don't have a clue about economics in general!

They believe that trickle down economics doesn't work, but trickle down taxes do.

Do increase debt drastically.

 

[gipper]

The Democrat plans to tax the rich are futile and ignorant. They sound good to the uneducated, but they don't work very well. When you raise tax rates or reduce deductions on the rich, their typical response is to divert more of their money into tax shelters where they pay less tax. They can afford tax lawyers and CPAs who find ways to reduce their taxes dramatically and it's all legal.

Donald Trump knows how. For several years at a time, he paid no income tax. I don't know all the shelters he used but I can guess. One would be accelerated depreciation on the buildings and furniture he owns. Another would be Net Loss Carryover. When you have a loss in one year, the IRS Code allows you to deduct that loss on the returns for following years. If the NLC is large enough, it can give you zero tax liability for 5 or 6 years. Even people of moderate income can use tax shelters. I have 2 of them.

If you don't try and target the rich, they will pay a fair share of taxes just like everybody else. If you target them with high tax rates, they run for tax shelters.

These Dem idiots never learned what Kennedy, Reagan and Trump learned. Cutting taxes puts more money into the economy and the Fed coffers than raising them ever did. They will never, ever learn that lesson.

Imbeciles is what they are.

Trickle down economics has never worked, but it does enrich the rich enormously.

Trickle down economics doesn't work...BECAUSE TRICKLE DOWN ECONOMICS DOESN'T EXIST! It's something that was made up by the left to denigrate Supply Side Economics. Whenever someone starts talking about trickle down economics it's a sure sign they don't have a clue about economics in general!

Lol. Trickle down economics is just another name for supply side economics. You must know that right?

 

[Brain357]

The Democrat plans to tax the rich are futile and ignorant. They sound good to the uneducated, but they don't work very well. When you raise tax rates or reduce deductions on the rich, their typical response is to divert more of their money into tax shelters where they pay less tax. They can afford tax lawyers and CPAs who find ways to reduce their taxes dramatically and it's all legal.

Donald Trump knows how. For several years at a time, he paid no income tax. I don't know all the shelters he used but I can guess. One would be accelerated depreciation on the buildings and furniture he owns. Another would be Net Loss Carryover. When you have a loss in one year, the IRS Code allows you to deduct that loss on the returns for following years. If the NLC is large enough, it can give you zero tax liability for 5 or 6 years. Even people of moderate income can use tax shelters. I have 2 of them.

If you don't try and target the rich, they will pay a fair share of taxes just like everybody else. If you target them with high tax rates, they run for tax shelters.

These Dem idiots never learned what Kennedy, Reagan and Trump learned. Cutting taxes puts more money into the economy and the Fed coffers than raising them ever did. They will never, ever learn that lesson.

Imbeciles is what they are.

Trickle down economics has never worked, but it does enrich the rich enormously.

Trickle down economics doesn't work...BECAUSE TRICKLE DOWN ECONOMICS DOESN'T EXIST! It's something that was made up by the left to denigrate Supply Side Economics. Whenever someone starts talking about trickle down economics it's a sure sign they don't have a clue about economics in general!

Lol. Trickle down economics is just another name for supply side economics. You must know that right?

It’s a great way to slow economic growth, increase inequality and increase debt.